This week in property: Shorter waiting time for HDB flats, four properties up for collective sale, Singapore ranked fifth on City Wealth Index

By EdgeProp Singapore / EdgeProp | March 9, 2018 3:16 PM SGT
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Property highlights of the week from March 5 to March 9:
1) Shorter waiting time for HDB flats
Minister of national development, Lawrence Wong, has announced that about 1,100 HDB flats with a shorter waiting time of two to three years, compared to the current three to four, will be launched for sale in 2H2018. The flats launched will spread across three projects in Sembawang, Sengkang, and Yishun. Another 2,000 such flats will be launched in 2019.
Wong also announced new measures, including one to defer income assessment, which will be effective from the May 2018 sales exercise. First timer couples will be allowed to apply for their flats first, and defer the assessment of their income for housing grants and loan till just before the key collection for their new flat.
HDB has also removed its three-year time-bar policy for divorcees to buy subsidised flats. From March 6, both parties in a divorce would be able to buy or own a subsidised flat each upon divorce, as long as each are able to meet the eligibility conditions for flat purchase. Previously, only one party of a divorced couple can buy or own a subsidised flat within three years from the date of their divorce.
2) Four properties put up for collective sales
Four properties were put up for collective sales in the past week. They include Katong Omega Apartments, a freehold project that was launched for sale with 100% owners’ consent. Located on East Coast Road,...