The government announced new property cooling measures, effective from 30 Sep 2022 onwards. Read about the new property curbs here.
As US interest rates continue to rise, the Monetary Authority of Singapore (MAS), Ministry of National Development (MND) and Housing and Development Board (HDB) have taken a pre-emptive step to introduce new cooling measures (albeit ‘temporary’ and subject to continuous review and updates). The move is aimed at promoting more prudent borrowing and avoiding future…
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Didn’t manage to get a good queue number from the past HDB BTO or Sale of Balance Flats (SBF) exercises? Here’s another chance to buy subsidised housing directly from the HDB, via the Open Booking of Flats exercise. What is Open Booking of Flats? Open Booking of Flats is one of HDB’s modes of sale,…
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Starting from 6 rooms in 2019, The Assembly Place (TAP) has crossed 1000 rooms to date across more than 90 locations in Singapore. This reaffirms TAP’s commitment to expanding its presence in Singapore. This follows TAP’s opening of its first co-living hotel with 23 rooms, The Assembly Place, a Co-Living @ Mayo (former Mayo Inn)…
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November’s 2022 HDB BTO launch in Yishun will see not one, not two, but three projects. 2,960 units are expected to be launched along Yishun Avenue 1, making up around 31% of the overall number of units. This comes second to Queenstown’s 3,250 units, followed by Tengah’s 2,070 units. The last launch in Yishun was back in May, with…
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In reply to <a href="https://www.99.co/singapore/insider/3-rule-changes-floor-area-land-betterment-remnant-land-property-prices-en-bloc/#comment-202977">Yew Siong</a>.
Hi Yew Siong,
Usually, for en bloc, the Method of Apportionment (MOA) is used to determine the share of the sale proceeds each homeowner gets. There are four ways to distribute:
1. Based on share value - may not apply to older condos
2. Based on strata area
3. Based on valuation - different valuers may adopt different methods
4. Based on a combination of the three above, with different weightage for each.
Note that for (3), a valuer may adopt a method which is typical of a unit of each type or category, disregarding renovations, facing, floor level, etc., but he or she may half the area attributed to a roof-top terrace for valuation (due to it being part of a "bonus floor area").
Also, if based on strata area (2), the apportionment ratio for a unit is the unit's individual strata area divided by the total of all the individual strata areas on the title deeds of the units in the entire estate.
If the MOA is based on strata area, your strata void areas are still included. However, after 1 June 2023, strata void areas will be excluded from the strata area. Hope this helps!
Fully agreed with Sebastian, sometime these Council members think they are smarter and knowledgeable than the Managing Agent and acted in contrary with the best practice and innovative resolutions being recommended.
For a penthouse with a void at dining area and a roof terrace on the next level that was built before 2013, How should it be calculated in fair value (abt 1/2 the normal built in area) ? Based on SLA data, both void and roof terrace has been included in GFA.
How will value be calculated in en bloc process on the void and roof terrace ( understand the usual is either using MOA and strata area or both)
Is it beneficial to existing owners ( prior 2013 built) in resale mkt / enbloc in general?
Thks.
Any idea if PR only families can buy open booking of repossessed flats ?
Around 5% of the flats to be launched in the November 2022 HDB BTO sales exercise will be located in Kallang/ Whampoa. With only around 470 units available, this is the smallest project in this launch. November 2022 Kallang/ Whampoa HDB BTO: At a glance Location Along Lorong 1 Geylang Classification Mature estate Flat types…
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