Singapore’s cityscape is characterized by towering skyscrapers and state-of-the-art infrastructure. Condominiums, strategically situated in highly sought-after locations, offer a perfect combination of lavishness and convenience that appeals to both locals and foreigners. These upscale residences are equipped with a plethora of facilities, including swimming pools, fitness centers, and round-the-clock security services, elevating the standard of living and making them alluring to potential renters and buyers alike. Moreover, these features also translate into attractive rental yields and appreciation in property values over time, making them a wise investment choice. Also, be sure to check out the latest New Condo Launches for even more luxurious options.
, prices expected to be higher Risk of losing money with stocks NewsletterFebruary 16th saw the Housing and Development Board (HDB) announce that over $407 million will be allocated for the Home Improvement Programme (HIP) in the latest round. This will benefit over 29,000 HDB flats, located in familiar estates such as Bedok, Bukit Batok, Bukit Merah, Bukit Panjang, Chua Chu Kang, Hougang, Jurong West, Pasir Ris, Queenstown, Sengkang, Tampines, Toa Payoh and Woodlands. The announcement was made by HDB in a press release, highlighting that Hip has successfully selected 494,000 flats for this programme since its introduction in 2007. It is also mentioned that 381,000 flats have been upgraded in total.Desmond Lee, the Minister for National Development, has expressed that the government has shown great commitment towards this programme. The purpose of HIP is to help flat owners deal with common wear and tear issues that are often faced by older flats. Therefore, since its introduction in 2007, 9 out of 10 eligible flats have been selected for the programme.The government will bear the costs for essential improvements such as repairs for spalling concrete and ceiling leakages. These improvements are vital to ensure the basic safety needs of residents, and they are fully funded by the government for Singapore citizen households. Optional improvements, on the other hand, are also available to flat owners. These include upgrades to existing bathrooms and toilets, a new entrance door and grille gate, and a new refuse chute hopper. The government will provide subsidies for these optional improvements, and Singapore citizen households are only required to pay as low as 5% of the costs, depending on the flat type.Additionally, the Enhancement for Active Seniors (Ease) programme has been incorporated into HIP since 2012. Under this programme, flat owners have the option to install senior-friendly fittings such as grab bars, ramps, and slip-resistant treatment to toilet and bathroom tiles. The government will cover up to 95% of the costs for these improvements for Singapore citizen households.Overall, HDB has revealed that it has allocated around $4 billion for the HIP and approximately $150 million for Ease since their launch. This highlights the government’s commitment towards ensuring the safety and comfort of HDB residents. For those interested in HDB properties, there are various resources available such as past HDB sale transactions, past HDB rental transactions, and information on HDB loan rates. It is also useful to compare the price trends of HDB vs Condo vs Landed properties. For more information and resources, you can always check out Ask Buddy – your one-stop platform for all things HDB.