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Day: March 1, 2021

Half of all two-room flexi flat buyers are aged above 55, says HDB

Half of all 2 rooms flexi flat buyers are aged above 55, says HDB

SINGAPORE – Two-room Flexi apartments have actually shown preferred with older purchasers, with more than half of them aged 55 and also above, numbers exposed on Saturday (Feb 27).

Singles have been the second-largest group buying the units considering that they were presented six years back, the Real estate Board (HDB) stated.

As of Dec 31, 34,700 two-room Flexi apartments had been released to buy because they were brought in by the HDB in 2015. Around 84 per – or 25,189 flats – of the 29,924 devices offered have actually been booked by home customers, claimed the HDB. Selections are still continuous for the continuing to be 4,700 systems.

Of these buyers, 56 per cent were older individuals aged 55 and also above. Songs made up 38 per cent while the staying 6 per cent of home purchasers were family members.

Amongst the apartments bought by older purchasers, 92 per cent got on short leases. The rest got on 99-year leases.

The 40-year lease was one of the most popular, at 4,046 units, adhered to by the 35-year lease at 3,526 and also the 30-year lease at 2,291 devices.

Only 215 older purchasers opted for the shortest lease of 15 years, with the oldest being 99 when looking for a flat with such a lease.

Dimensions for these flats range from 36 to 46 sq m.

Older purchasers pay less for a flat with a much shorter lease. In the February Build-To-Order (BTO) sales workout, costs for a two-room Flexi flat with a 15-year lease began at $34,000 at West Hill @ Bukit Batok and also $39,000 at Parc Woods @ Tengah, both non-mature estates.

Rates for the very same level with a 99-year lease started from $101,000 at Bukit Batok and $110,000 in Tengah.

Prices additionally depend upon the area. In the very same sales workout, rates for a 15-year lease at McNair Heights in the mature estate of Kallang/Whampoa started at $69,000. The two-room Flexi flats in the job did not include a 99-year lease alternative.

These short-lease two-room Flexi flats will have to be paid for totally upfront with money or with Central Provident Fund cash.

They also can not be re-seller or rented. Owners who no more require the flat can return it to the HDB, which will certainly refund them the value of the staying lease based on straight-line depreciation.

An additional real estate choice for elders is the assisted living HDB apartments, targeted at those aged above 65 that wish to survive on their very own and yet appreciate some care, assistance, and communal tasks.

The pilot batch of Area Treatment Apartments at Harmony Town @ Bukit Batok, which launched in February’s BTO sales exercise, was well-received. There were 706 applicants trying the 169 devices available.

The Government previously said that it has prepared for the Neighborhood Treatment Apartments housing design to be piloted at additional sites if the take-up price and public reaction for the very first pilot at Bukit Batok is excellent.

Government subsidies such as the Silver Real Estate Perk (SHB), which offers elders a money bonus offer of as much as $30,000 when they market their current level and also utilize the proceeds to top up their CPF Pension, are applicable.

As of Dec 31 last year, 970 households have taken advantage of the SHB, stated the HDB.

Eligible newbie customers can additionally tap the Improved CPF Real Estate Give (EHG) of up to $80,000 as well as do not need to pay a resale levy.

In the forthcoming May and August BTO sales workouts, the HDB will certainly introduce two-room Flexi flats in Geylang, Hougang, Jurong East, Tampines, Tengah, Parc Clematis, and Woodlands.

Madam Hamidah Rosman, 65, who works as a clerical policeman, and also her spouse Abdul Rahim Abdullah, 73, marketed their four-room resale HDB flat in Yishun for around $370,000 before moving into their two-room Flexi system in Canberra in December 2019.

Their level in Canberra, which they bought on a 35-year lease, expense around $70,000. The couple’s little girl as well as three grandchildren, aged 6 to 10, deal with them.

What the family of six absence precedes, they offset in economic liberty.

” It was difficult for me to stay up to date with the real estate expenses in the previous flat. With this new level, although smaller sized in dimension, I have lower costs to pay which is less of a financial burden on me,” said Madam Hamidah.

OrangeTee & Tie senior vice-president of research and also analytics Christine Sun said the short-lease two-room Flexi flats are one means for seniors to monetize their existing units but still ensure they have a roof covering over their heads.

She stated: “Some senior citizens might choose to squander as well as sell their bigger flat that they purchased a long time ago and buy a less costly short-lease two-room Flexi to leave a sum of inheritance money for their youngsters. Others may merely just intend to live in a smaller residence to appreciate their retirement life, so also check the parc clematis balance units before visiting parc clematis showflat.”

Also Read: Landlord Tips: 3 Ways to Minimise Vacancy for Residential Rental Property

Queenstown BTO Review: 5 Minutes from IKEA & 5 Stops from CBD

Queenstown BTO Review: 5 Minutes from IKEA & 5 Stops from CBD

The Queenstown BTO project is among one of the most highly expected jobs in the upcoming August 2021 BTO launch. Nevertheless, it will be the very first time in 9 years that BTO apartments will certainly be used in this extremely prominent city-fringe HDB estate.

The BTO apartments will lie within strolling distance to IKEA as well as will comprise 610 3-room and 4-room apartments. 230 flats will certainly be rental units in a different block.

Allow’s take a deep dive into this Queenstown BTO job

Queenstown BTO Area (Aug 2021 HDB BTO Launch).

Citizens of the Queenstown BTO flats can look forward to closing accessibility to retail facilities, furnishings offerings, and also low-cost bargains. Besides, the apartments will certainly lie within a five-minute stroll from IKEA, Anchorpoint Mall, and also Queensway Shopping Center.

Public transportation will certainly also be within practical reach, with Queenstown MRT a 10-minute bus trip away from Sengkang grand residences. From Queenstown MRT, homeowners will certainly have the ability to access other parts of Singapore such as Jurong East, the CBD, and also Bishan in regarding half an hour or much less.

It merits to keep in mind that Alexandra Hospital will certainly just be a stone’s discard from the BTO job. There are also plans to build healthcare as well as medical care center beside the flats.

On top of that, a Chinese temple will certainly lie just across the BTO job, and Alexandra Fire Station will be just a few minutes away.

Queenstown BTO Facilities (Aug 2021 HDB BTO Introduce).

5-minute strolling distance to IKEA, Anchorpoint, and Queensway Mall.
For fans of Scandinavian furnishings and also Swedish meatballs, IKEA will certainly just be a brief walk away. Anchorpoint is likewise a stones’ get rid of for those trying to find other retail and dining offerings.

Sports addicts can also anticipate shopping at Queensway Shopping Centre for economical sporting activities footwear and devices. These 3 retail developments will all be within a five-minute walk from the Queenstown BTO apartments.

Those that intend to delight in regional price as well as obtain their everyday basics from the marketplace will certainly be pleased to learn about both neighborhood centers in the vicinity. On top of that, Mei Ling Market, as well as Food Centre, will certainly be just 8 minutes away by foot.

Five MRT quits to the CBD.

Citizens can likewise gain from the task’s closeness to the CBD. With Raffles Place MRT simply 5 quits away, those functioning there can expect much shorter commutes and take pleasure in more free time. The nearest MRT will be Queenstown MRT, which will be 10 mins away from the flats by bus.

After boarding at Queenstown MRT, homeowners can easily transfer to various other lines such as the Circle Line as well as North-East Line to get to various other parts of Singapore.

With Buona View MRT (Circle Line) just 2 stops away from Queenstown MRT, residents can take a trip to locations like one-north and Bishan in a brief period of time.

Outram Park MRT (North-East Line) is three stops away, allowing locals to cut they are taking a trip time to get to locations like HarbourFront and also Dhoby Ghaut.

Aside from retail amenities, medical care centers will be easily available for homeowners of the Queenstown BTO project. The floor plans are also similar to Sengkang grand residences floor plan.

Offering detailed and also urgent clinical solutions, Alexandra Hospital will just be nearby. For small ailments, residents can get to Queenstown Polyclinic in 10 mins by bus.

Furthermore, wellness as well as medical care center is being proposed to be developed next to the apartments.

Sports junkies will certainly be pleased to understand that low-cost deals will certainly not be the only perk of living in the Queenstown BTO flats.

Situated simply across Queenstown MRT, sporting activities centers such as Queenstown Swimming Facility as well as Arena can be reached within a 10-minute bus flight.

For those that choose nature and the outdoors, there’s likewise the Alexandra-Queensway park adapter close by, with a stretch of it right before the BTO apartments.

Crescent Girls’, a prominent girls’ college in Singapore, will be around 25 minutes away by bus.

Apart from this school, there aren’t numerous various other keys as well as high schools in the area.

Also Read: The government has unveiled a $900 million Household Support Package