Buying HDB Flat


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Jun 27, 2007
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#1
Hi bros,

I'm planning to get a new flat.
Probably a 5 room executive.
But under design and build, the max is 4 room.
Current launch is yishun and punggol for design and build.
But punggol is out for me as it's quite far from my work place.
Maybe some location more centralise.
This is my 1st time applying for flat.


For location wise, I'll go for Bishan or Toa payoh. But there aren't any new homes there right?
Or anyone have any recommendation or advise?


Thanks a million!!
 

fotojoy

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Mar 10, 2005
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#2
Buying it alone or ?

There are some en-blocks opp Bishan Park :)

As for Toa Payoh, hmmm the new 40-storey high ones ... still building in progress.
 

k3nn3th03

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Jan 6, 2005
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#3
Buying it alone or ?

There are some en-blocks opp Bishan Park :)

As for Toa Payoh, hmmm the new 40-storey high ones ... still building in progress.
er... TP one almost completed..

think got pple stay in liao..
 

joe

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Feb 23, 2003
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#4
Hi bros,

I'm planning to get a new flat.
Probably a 5 room executive.
But under design and build, the max is 4 room.
Current launch is yishun and punggol for design and build.
But punggol is out for me as it's quite far from my work place.
Maybe some location more centralise.
This is my 1st time applying for flat.


For location wise, I'll go for Bishan or Toa payoh. But there aren't any new homes there right?
Or anyone have any recommendation or advise?


Thanks a million!!
Hi there,
I would like to check with you,are you in hurry getting a flat or just want to find out more cos you can check the web site.If not you getting from open market.Open market mean you look for a propertly agent to help to look for a flat within your buget.Are you married or getting by yourself?;)
 

fotojoy

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Mar 10, 2005
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#5
er... TP one almost completed..

think got pple stay in liao..
wah seh! REALLY ah? LAst mth I passed by ... still building leh... no window panes and all that.

Is it nice? I balloted for it but didnt get the top floors so gave up :p
 

aeskywan

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Feb 13, 2007
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#6
HDB is building a new flat at Bishan st 12
 

hobbes187

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#7
HDB is building a new flat at Bishan st 12
Think those are studio apartments for old folks...

Anyway, forget about getting new flats in Bishan/TPY, the only ones coming up are the DBSS scheme which is essentially HDB flats built (and priced) by private developers. HDB has been moving towards a policy of selling prime land in mature estates to private developers under the DBSS scheme and the result is extremely expensive flats (e.g. more than $450k for 4 rms low floor).

To get resale from these 2 estates, think you should be prepared to fork out $40-50k cash over valuation. I'm looking for a flat too and have been quoted incredible COVs by some crazy owners ($80k for TPY and $100k for queenstown). So I stuck with trying to ballot with HDB for new flats. I tried many times but always couldnt get and the new launches will take 4 yrs to build which is too long for me to wait.

The last ballot for seng kang/punggol/hougang flats (built and ready flats) attracted 5100+ applications for only 314 flats. That is an oversubscription of 18 times!! But luckily I finally got a number (170+) so I will be going down to try and select a flat soon.

So I've concluded that whether u can get a flat in singapore now boils down to 2 factors:

1) How much money you have (for resale)
2) How lucky you are (in ballots)
 

k3nn3th03

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Jan 6, 2005
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#10
wah seh! REALLY ah? LAst mth I passed by ... still building leh... no window panes and all that.

Is it nice? I balloted for it but didnt get the top floors so gave up :p
i ballot too.. but end up sky high queue no..

but got my house from geylang ballot..

:):)
 

USM

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Apr 25, 2002
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#11
wah seh! REALLY ah? LAst mth I passed by ... still building leh... no window panes and all that.

Is it nice? I balloted for it but didnt get the top floors so gave up :p
Congras! So our little sister getting married soon. :think:
 

reachme2003

Senior Member
Oct 6, 2003
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#12
when you have enough $$, all your wants below can be met.

Hi bros,

I'm planning to get a new flat.
Probably a 5 room executive.
But under design and build, the max is 4 room.
Current launch is yishun and punggol for design and build.
But punggol is out for me as it's quite far from my work place.
Maybe some location more centralise.
This is my 1st time applying for flat.


For location wise, I'll go for Bishan or Toa payoh. But there aren't any new homes there right?
Or anyone have any recommendation or advise?


Thanks a million!!
 

Jun 27, 2007
127
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33
Singapore
#13
Need to fork out cash even if it's a newly built flat?
I'm not married yet, getting married next yr.
I read on newspaper that in bishan, there's a design and build flat coming up.
But It's not shown on website.

How about those show flats?
How much appx are they?
Good or not?
 

Yatlapball

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May 13, 2006
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#14
Mmm... I dunno if there have been changes in the past few years... but if I don't remember wrongly its some pocket change to get a ballot number... 2K to exercise your "purchasing right"... and 10% (either through CPF-OA or cash).

I think nowadays everybody also can loan 90%. In the past it was another 10% on TOP, with only civil servants being able to apply for a 90% loan.

Also... If I don't remember worngly... (haha. sorry I've been waiting for quite awhile for my own place to be ready and I'd be waiting for another 1-2 years more at least. So I may have forgotten quite abit. Or things might have changed since then)... Do take note of that when you apply for HDB loan... they will automatically wipe out your CPF-OA account first, and loan you the balance.

Also be very aware (I think the papers have been harping on this for a period of time maybe 1-2 years ago) of how your CPF works... If you take too large a loan and intend to pay it through CPF-OA completely there will come a point of time when your CPF-OA has reached its withdrawal limit. Some people unfortunately realised this too late in their lives... not enough cash or income to pay the remainder. So plan and do your calculations carefully!

I think the Bishan DBSS is not confirmed yet. They just tendered out the land to private developer.
 

#15
Word of Advice.
If you are getting next year, you should be aware of the amount of time that is needed to build the flats. You might not get the flats immediately and you might have to find alternative living arrangements with your wife until the flat is complete (rental or move in with the in-laws). It could be at least a year or 2 after your marriage before you can move in to your new flat.

I assume you and your wife are under the $8k salary ceiling to qualify for a new flat, which probably means that you'll get a grant and the HDB concessionary loan, which is a pretty good deal. If both of you are above the salary ceiling than consider appealing if it's above by a little bit.

The only Executive Condo that I know of that can be bought new right now is La Casa at Woodlands which to me seems further away than Punggol.

Honestly, the ones the announced for Bishan recently in the news may not really be worth it. I read that the analysts estimated that a 4-rm flat in that new project will cost about $450k - $490k. To me that is really overpriced for a new HDB flat given that the an average 4rm HDB flat has a floor space of 92-98 sqm.

A second option is resale but you really need to be cash-rich because people are asking for the moon now in terms of Cash above Valuation (COV). It's not unusual for 5-rm flats in good locations to be asking for at least 100k COV. You can't use CPF to pay for this so it's all cash.

I wish you good luck in your search because right now any home buyer really needs it.
 

Yatlapball

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May 13, 2006
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#16
That's why you see the HDB ballots are being over-subscribed 5-10x ...

The market is really nuts now. LOL. I'm glad I was just that few steps early...
 

hobbes187

New Member
Apr 3, 2007
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#17
Need to fork out cash even if it's a newly built flat?
I'm not married yet, getting married next yr.
I read on newspaper that in bishan, there's a design and build flat coming up.
But It's not shown on website.

How about those show flats?
How much appx are they?
Good or not?
If you're getting married next yr, I think you may have to turn to resale flats. The bishan plot is now only opened for tenders and I think will only be complete in 4-5yrs time. Same goes for all the other flats that the govt so called are rolling out to "meet current demand". There is no way these flats will be built in time for ppl looking to get married in 2008 and 2009 as they take about 4 yrs to build. Also $450k-500k for what is still essentially a HDB flat is too high! BTW, these design and build flats require 5% cash.

The HDB is experiencing a severe shortage of ready flats at the current time as they stopped building flats for a while during the economic downturn a few yrs back and also due to the large number of unsold flats. That, in my view, was a bad mistake as it has now manifested itself as a break in supply of flats. Even the last seng kang ballot for ready flats garnered 5100+ applications for a mere 314 flats!

I failed to get a good number for the last 3 ballots (each time "donating" $10 to HDB) and finally got a number during the seng kang ballot. So if you're looking for a brand new flat thats ready in 2008, you'll have to fight with the many other couples in a game of luck (the balloting). Otherwise, be prepared to wait till 2010/2011 for your flat or buy resale (and be at the mercy of sellers asking for high COV)
 

Yatlapball

Senior Member
May 13, 2006
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#18
The only possibility would be to ballot for the left-over units in already completed projects... Taking away the walk-in selection really put a dent in people who are in a rush to get a place.
 

hobbes187

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Apr 3, 2007
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#19
The problem with balloting is that you are playing a game of luck... You wont know when you will get a flat and cant make concrete plans... Its all very frustrating. And there're always ppl who join in the ballot for fun since its only $10 unlike the old WIS where only those truly in need of flats will go queue.
 

melvin

Senior Member
Jun 4, 2005
2,681
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TPY
#20
Think those are studio apartments for old folks...

Anyway, forget about getting new flats in Bishan/TPY, the only ones coming up are the DBSS scheme which is essentially HDB flats built (and priced) by private developers. HDB has been moving towards a policy of selling prime land in mature estates to private developers under the DBSS scheme and the result is extremely expensive flats (e.g. more than $450k for 4 rms low floor).

To get resale from these 2 estates, think you should be prepared to fork out $40-50k cash over valuation. I'm looking for a flat too and have been quoted incredible COVs by some crazy owners ($80k for TPY and $100k for queenstown). So I stuck with trying to ballot with HDB for new flats. I tried many times but always couldnt get and the new launches will take 4 yrs to build which is too long for me to wait.

The last ballot for seng kang/punggol/hougang flats (built and ready flats) attracted 5100+ applications for only 314 flats. That is an oversubscription of 18 times!! But luckily I finally got a number (170+) so I will be going down to try and select a flat soon.

So I've concluded that whether u can get a flat in singapore now boils down to 2 factors:

1) How much money you have (for resale)
2) How lucky you are (in ballots)

Those are not for Old Folks lah... for everyone!

DBSS are flats by HDB, PRICE By HDB only to be bulit by Private Developers! Still bonded by R & R of HDB!
 

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