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Ministry of National Development

12 posts

Desmond Lee rejects WP’s rent control suggestion, citing potential supply and equity issues

Minister for National Development Desmond Lee dismissed the Workers’ Party’s suggestion for market rent regulation, warning that rent controls could reduce rental supply and create allocation and equity problems. He emphasised the adverse effects on housing market distortions and property prices, while assuring openness to alternative measures.

MND announces all TCs excel in operational performance; Sengkang TC given ‘Amber” rating in S&CC Arrears Management

The Ministry of National Development (MND) revealed that all town councils in Singapore achieved a “Green” rating for Estate Cleanliness, Estate Maintenance, and Lift Performance in the Fiscal Year 2022 TCMR Operational Report. However, Sengkang Town Council received an “Amber” rating in S&CC Arrears Management as the monthly collectible S&CC for the town overdue was slightly more than 40% of total collectible even though less than 4 in 100 households that owed arrears for three months or more.

Singapore doubles ABSD to 60% for foreign property buyers in effort to “prioritise housing for owner-occupation”

Singapore announced increased Additional Buyer’s Stamp Duty (ABSD) rates to promote a sustainable property market which will take effect from 27 April. Foreigners buying residential property will see ABSD rise from 30% to 60%, while entities will face a raise from 35% to 65%. Singapore citizens and permanent residents will also experience rate increases. The government says that it aims to manage investment demand and ensure housing supply meets demand. The ABSD rate adjustments will affect approximately 10% of residential property transactions. Transitional provisions will apply to certain cases.

Lapses in Earth Control Measures at Bukit Batok Build-To-Order project resulted from terrain constraints and supply issues, says MND and HDB

The lapses in earth control measures at a Build-To-Order project in Bukit Batok were the result of terrain constraints and supply issues, said the Ministry of National Development (MND) and Housing Board (HDB) in a joint statement. The statement addressed concerns about the implementation of the environmental management and monitoring plan (EMMP) for the site, which was carried out in stages due to the hilly terrain of the site. Although there were temporary supply issues that prevented the contractor from covering some areas of exposed earth in one day, the supply issue has since been resolved.

Singapore Govt acquired farmland in Hougang at $7.50 psf in 1979

SINGAPORE — The Housing Development Board (HDB) announced on Monday (31 Oct)…

HDB says it incurred record deficit of $4.4b but doesn’t reveal original cost of land acquired through compulsory acquisition

SINGAPORE — The Housing Development Board (HDB) has just announced that it incurred a…

Minister of National Development directs Correction Directions to be issued to Yeoh Lam Keong and TOC

SINGAPORE — Desmond Lee, the Minister of National Development has directed the…

Singapore’s reserves substantially profits from $500m land sales in AMK BTO

CORRECTION NOTICE: This article contains a false statement of fact. For the…

Govt seeks S’poreans opinion via online survey on creating new public housing model in prime locations

The Ministry of National Development (MND) has come forward to seek public…

Dennis Tan and Nicole Seah of The Workers’ Party speak up for Dover Forest

It is heartening to see non Peoples’ Action Party (PAP) politicians fulfilling…