Showing posts with label singapore hdb. Show all posts
Showing posts with label singapore hdb. Show all posts

Friday, May 6, 2011

Median Subletting Rents by Town and Flat Type for 4th Quarter 2010

The statistics below provide the median rents of HDB flats in various locations with subletting approvals in the said quarter. The median rent indicates that half the units were above the value and half below.

Flat owners and prospective tenants may use the median rent as a guide to do their own research before entering into a rental agreement.

Median Subletting Rents by Town and Flat Type for 4th Quarter 2010

TOWN
1-RM
2-RM
3-RM
4-RM
5-RM
EXEC
ANG MO KIO
-
$1,280*
$1,610
$2,100
$2,200
-
BEDOK
-
$1,250*
$1,580
$2,000
$2,250
$2,280
BISHAN
-
-
$1,610
$2,200
$2,400
$2,490*
BUKIT BATOK
-
-
$1,550
$1,900
$2,250
$2,150
BUKIT MERAH
$750*
$1,430*
$1,800
$2,400
$2,800
-
BUKIT PANJANG
-
-
$1,500
$1,700
$1,950
$2,100
BUKIT TIMAH
-
-
$1,730*
$2,150*
$2,350*
$2,450*
CENTRAL
-
$1,300*
$2,050
$2,400
$3,500*
-
CHOA CHU KANG
-
-
$1,300
$1,900
$2,000
$2,300
CLEMENTI
-
-
$1,700
$2,200
$2,400
$2,500*
GEYLANG
-
$1,250*
$1,630
$2,050
$2,400
$2,650*
HOUGANG
-
-
$1,600
$1,930
$2,150
$2,450
JURONG EAST
-
-
$1,600
$2,000
$2,100
$2,480
JURONG WEST
-
$1,450*
$1,500
$2,000
$2,200
$2,300
KALLANG/ WHAMPOA
-
$1,250*
$1,700
$2,250
$2,440
$2,650*
MARINE PARADE
-
-
$1,900
$2,330
$2,350*
-
PASIR RIS
-
-
-
$2,000
$2,100
$2,300
PUNGGOL
-
-
-
$1,900
$2,100
$2,300*
QUEENSTOWN
-
$1,300
$1,780
$2,380
$2,550
$2,800*
SEMBAWANG
-
-
-
$1,850
$2,000
$2,200
SENGKANG
-
-
$1,930*
$2,000
$2,100
$2,300
SERANGOON
-
-
$1,700
$2,030
$2,270
$2,500
TAMPINES
-
-
$1,700
$1,950
$2,200
$2,350
TOA PAYOH
-
$1,300*
$1,700
$2,000
$2,330
$2,490*
WOODLANDS
-
-
$1,430
$1,800
$2,000
$2,050
YISHUN
-
-
$1,500
$1,800
$2,000
$2,250
OVERALL
$750
$1,300
$1,700
$2,000
$2,150
$2,300

Notes:

  1. (-) indicates no subletting transactions in the quarter.
  2. Figures marked with asterisks (“ * ”) refer to cases where there are less than 10 subletting transactions in the quarter for the particular town and flat type. As such, they may not be representative.
  3. The data above is based on rents self-declared in the subletting application forms. Nevertheless, it serves as a useful reference in sublet flat hunting and basis for rent negotiations.
  4. The median rent tells you that half of the units for that flat type in that town were rented above that price and half below.
  5. The figures are rounded to the nearest ten dollars.

Thursday, May 5, 2011

Minimum Occupation Period (MOP) required before selling HDB flat

A block of HDB flats in Queenstown

HDB flat owners can sell their flats in the open market to eligible buyers of their own choice at a mutually agreed resale price. The seller and buyer shall declare to HDB the true resale price of the flat. They shall not enter into any supplementary or other agreements or arrangements that may cause the true resale price as declared to be inflated or understated.

Important Note
Under the Housing & Development Act, the penalties for buyers and sellers who give false information to HDB is up to 6 months' imprisonment and/or a fine of up to $5,000.

Before selling your flat, you must ensure that you have met the eligibility criteria to do so, i.e. to have met the Minimum Occupation Period (MOP).

Minimum Occupation Period (MOP)

HDB flat owners must have physically occupied their flats for a period of time, referred to as Minimum Occupation Period (MOP), before they are eligible to sell it in the open market.

The period will depend on:

  • The purchase mode, and
  • The flat type

*If you have rented out your entire flat, the period of subletting will not be included in the computation of the MOP.

Flat type listed below and their required MOP*.

1-Room and HUDC Flat
- No occupation period for owners owning 1-room flat or HUDC flat.

Flats bought from HDB (direct-purchase flat), DBSS flat bought from developer and Resale Flat under CPF Housing Grant Scheme
- 5 years from effective date of purchase.

Flats bought under Selective En Bloc Redevelopment Scheme (SERS)

  • For SERS replacement flat purchased with portable SERS rehousing benefits
    - 5 years from the effective date of purchase of the replacement flat.
  • For SERS replacement flat not purchased with portable SERS rehousing benefits
    - 7 years from the date of selection of the replacement flat, provided they had taken possession of the replacement flat; or
    - 5 years from the effective date of purchase of the replacement flat.

The computation of the MOP excludes the period (if any) of non-occupation of the replacement flat, such as subletting of whole flat or any infringement of the flat lease.

Resale Flat bought in the open market (without CPF Housing Grant Scheme)

The minimum occupation period you need to meet depends on when we receive your resale application:

Resale Application Received Date
MOP applicable
Before 5 March 2010
(includes owners owning their resale flat as at this date)
  • 2½ years from effective date of resale if the owner takes a loan from HDB
  • 1 year from the effective date of resale if:
    i. the owner has not taken a loan from HDB; or
    ii. he has taken a loan from the bank/financial institution to finance the purchase
5 March 2010 - 29 August 2010
  • 3 years from effective date of resale, regardless of the type of loan taken by the owners or loan status
On or after 30 August 2010
  • 5 years from effective date of resale, regardless of the type of loan taken by the owners or loan status

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Monday, May 2, 2011

Housing Development Board guidelines for renting out whole HDB flat/unit

This are the guidelines for subletting of flat but is also useful info for those who will be renting the HDB so that they can verify the legality of the flat.

In particular, information provided concerns:

  • Eligibility conditions : Flat owners
  • Flat owners' responsibilities
  • Eligibility conditions : Subtenants
  • Maximum subletting period
  • Costs involved in subletting
  • Apply for approval

Eligibility Conditions: Flat Owners

To sublet the entire flat, you need to satisfy the condition of a 3-year or 5-year Minimum Occupation Period (MOP).
You are allowed to sublet your whole flat if you have occupied your:

  • Non-subsidised flat (flat purchased from the open market without a CPF housing grant) for at least 3 years if your application for the purchase of the flat was received before 30 Aug 2010;
  • Non-subsidised flat (flat purchased from the open market without a CPF housing grant) for at least 5 years if your application for the purchase of the flat was received on or after 30 Aug 2010;
  • Subsidised flat (flat purchased directly from HDB or from the open market with a CPF housing grant) for at least 5 years

In case you do not meet the MOP condition for subletting, you may still sublet your whole flat only if it is under any one of the following special circumstances.

Living in quarters provided by employer
  • You/your spouse, your family members and authorized occupiers, are all staying in quarters provided by your employer.
Going overseas to work or study
  • You/your spouse are going overseas to work or study and the entire family will be going with you
OR
  • You are leaving behind family members who:
    • Cannot take care of themselves, and
    • Will be moving out of the flat
Living in commercial properties
  • You/your spouse are tenants, subtenants or owners of commercial property with living quarters
AND
  • You need to stay in that property, with your family members, to look after the business
Other circumstances
  • You are the sole owner and occupier of the flat and need medical care from relatives because of an illness
OR
  • You are the sole owner and occupier of the flat and have been hospitalised for more than 6 months
OR
  • The flat owners have passed away and left behind an orphaned minor child (under 21 years of age)
    • The guardian or public trustee of the minor child may sublet the whole flat

Flat Owners’ Responsibilities

As a flat owner subletting your flat, you will be responsible for:

  • Making sure the flat is sublet to eligible subtenants only
  • Making sure that there is no overcrowding and the number of subtenants does not exceed the maximum number allowed
  • Making sure that your subtenants have entered and are remaining in Singapore lawfully at all times (while the subletting is in force)
  • Making sure that your subtenants do not further sublet the flat to other persons
  • Making sure that your subtenants comply with all the covenants in the lease and the provisions of the Housing & Development Act and that you are responsible for all infringements, if any, committed by them
  • Informing the Comptroller of Property Tax of the subletting, and HDB of any changes in the subletting
  • Resuming occupation of your flat and ensuring your subtenants vacate the premises when:
    • The subletting is terminated, or
    • You are no longer eligible to sublet your flat
  • Surrendering the flat if the flat is repossessed by HDB

  • Eligiblity Conditions : Subtenants

    Citizenship

    Subtenants must be :

    • a. Singapore citizens; or
    • Singapore permanent residents; or
    • Non-citizens legally residing in Singapore [holders of Employment Passes, S Passes, Work Permits*, Student Passes, Dependant Passes, Professional Visit Passes, Long Term Social Visit Passes (6 months and above)].

    *Construction workers who are Work Permit holders should be Malaysians.

    Immigration status of non-citizen subtenants may be verified using the Immigration & Checkpoints Authority's VERIFI website.

    Maximum Number of Subtenants
    The maximum number of subtenants allowed in each flat is:

    Flat Type
    Total Number of Occupants
    1-room and 2-room
    4 persons
    3-room
    6 persons
    4-room and bigger
    9 persons

    Tenancy/Property Ownership Status

    • Subtenants must not be tenants/owners of other HDB flats except for :
      • Tenants/owners who are divorced/legally separated
        • Only one of the divorced/legally separated parties may be a subtenant
    • Owners who are eligible to sublet their whole HDB flat
      • They must sublet their own flat within 1 month after having rented a flat from another flat owner
      • They are not able to sublet their own flat after they move out of their flat as there are other occupiers remaining behind
  • Subtenants must not be owners of Executive Condominium units where the 5-year minimum occupation period has not been met.
  • Maximum Subletting Period
    - Three years per subletting approval.

    Costs Involved In Subletting

    • Administrative fee
      Flat owners have to pay an administrative fee of $20/- for each subletting application.
    • Renewal fee
      Flat owners must submit a new application and pay a fresh administrative fee to continue subletting the flat when existing subletting period expires. The new application will be subject to a reassessment of your eligibility to sublet your flat.

    Apply For Approval

    You must obtain HDB’s approval before you sublet your whole flat. You can submit the application online at My HDBPage. Alternatively, you can obtain the application form from any HDB Branch Office or download the application form and print it.

    If the lessee is overseas during the period of subletting, there must be a properly appointed Attorney to act for him in the management of the flat. A certified true copy of the Power of Attorney (POA), executed in HDB's prescribed form and which has been lodged with the High Court, must be furnished (Please consult your solicitor on the POA).