How HDB keeps it affordable

ST Letter by Ignatius Lourdesamy, 31 Aug 2009

WE REFER to the letters, ‘High HDB prices: Squeezed even harder’ and ‘Two shortcomings: Public housing too correlated to private market, and HDB has not regulated supply’ (both Aug 22); and ‘Flat hunting: Why was cash over valuation ever introduced?’ (Aug 20).

# Cash over valuation: Resale flat prices are the result of negotiations between willing buyers and sellers. Cash over valuation (COV) arises when buyers are willing to pay more than the market value of the flat, as determined by professional valuers.

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How HDB keeps it affordable

ST Letter by Chew Kim Cheer, 22 Aug 2009

THE HDB resale price index has surged relentlessly since 2007. Since the first quarter of 2007, the index has increased 35.3 per cent and is now at a record high, even though the economy is still recovering from downturn.

This is an anomaly the Government should examine.

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Seletar Camp residents quit after rent hike

ST link

A GROUP of Seletar Camp tenants, many of them long-term residents, have chosen to move out en masse because of a steep increase in rent.

About 15 out of 47 affected households, mostly clustered around Mornington Crescent, Edgware Road and Sussex Gardens, have decided not to renew their leases after their landlord, the Singapore Land Authority (SLA), trebled their rent.

Motorcycle-riding instructor Soh Leng Huat, whose family has lived there for 12 years, was told in September that upon renewing his lease in January, his rent would be $3,900 instead of the usual $1,200 per month.

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