26 Jun '15, 10am

Private properties to drop another 10% in next 2 years. More Stories: #property #singapore

Private properties to drop another 10% in next 2 years. More Stories: #property #singapore

Studio apartments and two-room flats are to be offered through a single scheme called “2-room Flexi”. National Development Minister Khaw Boon Wan announced the new development on MediaCorp’s Capital 95.8FM on 23 June, Tuesday. The scheme aims to provide a flexible lease tenure that ranges from 30 to 99 years to a wider pool of Singaporeans such as seniors, singles and low-income families. Presently, studio apartments have a fixed lease of 30 years to enable seniors above the age of 55 to monetise the older HDB they reside in. The short lease also keeps prices low. On the other hand, two-room flats come with a 99-year lease, meant for families or singles. The scheme is expected to be ready in August in time for the next (Build-To-Order) BTO exercise and will be implemented with limitations. For example, a lease below 99 years will not be applicable for young couples w...

Full article: http://www.iproperty.com.sg/news/10417/Week-in-Review---2...

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