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Build to order (BTO) is a real estate development scheme enacted by the Housing and Development Board (HDB), a statutory board responsible for Singapore's public housing. First introduced in 2001, it was a flat allocation system that offered flexibility in timing and location for owners buying new public housing in the country.
In 2009, the HDB introduced the Lease Buyback Scheme, under which the HDB buys a proportion of the housing unit's lease at current resale prices. Additional schemes, such as the Silver Housing Bonus, under which the homeowner moves to a smaller flat, and the two-room Flexi scheme consisting of smaller flats with shorter leases, were introduced ...
Not all council property could be transferred, as in some local authorities, their housing stock was in poor condition and had a capital value less than the remaining debts from construction costs—in effect, the council stock was in negative equity. [127] In some local authority areas, the tenants rejected the transfer option. [128]
The HDB Hub at Toa Payoh, headquarters of the Housing & Development Board of Singapore. HDB flats in Jurong West. The Housing & Development Board (HDB; often referred to as the Housing Board), is a statutory board under the Ministry of National Development responsible for the public housing in Singapore.
Rules on CPF use and HDB loans will now focus on whether the HDB can last the owner for life, unlike on the HDB's remaining lease previously. They include allowing CPF use for ageing flats if it lasts the youngest buyer until 95, and a maximum HDB loan of 90 percent property price or valuation. The rules take effect the following day. [169] [170]
As with the current scheme, the enhanced grant is given to Singapore Citizen only (not Singapore Permanent Residence spouse or an undischarged bankrupt), and can only be used as capital payment for the flat purchase. The balance, if any, must be used to reduce the mortgage loan before a housing loan from HDB can be granted.
WAULT, short for weighted average unexpired lease term, is a measurement used in commercial real estate to quickly judge the value of contracted rents in a property, or more commonly, a portfolio of properties.
[4] [14] The HDB had to reassure them that this project was a one-off special residential development. [15] The Pinnacle@Duxton received much publicity in the media when it was launched in May 2004. Subsequently, the S$ 279-million construction contract was awarded to Chip Eng Seng Corporation, the lowest of the bids submitted. [ 16 ]
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