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AsiaOne
5 hours ago
- Business
- AsiaOne
Private home owners may not have to wait till 2027 for change in HDB wait-out period: Chee Hong Tat , Singapore News
SINGAPORE — The wait-out period for private property downgraders looking to buy a resale flat may be relaxed before 2027, with an expected rise in supply of new and resale flats. Speaking at a community event in Toa Payoh on June 21, National Development Minister Chee Hong Tat said the supply of resale flats is expected to rise from 2026, as batches of Build-To-Order (BTO) flats affected by the Covid-19 pandemic hit their five-year minimum occupation period (MOP). The Housing Board will also be launching more than 50,000 units from 2025 to 2027. Chee said he expects that the effect of a strong continued supply of new BTO flats and resale units would moderate resale prices, making it timely for the authorities to consider if the 15-month cooling measure should be partially or entirely removed. He added that private property owners may not need to wait till 2027 or 2028 for a review of the wait-out requirement, which was introduced in September 2022. 'So, that is why I said [this would be considered] at the right time, when the resale market has stabilised, and when the supply of resale flats increase, which we think will happen in the next few years, because this year is actually the year where the turn will happen,' he said. The HDB resale price index grew by 1.6 per cent in the first quarter of 2025, down from 2.6 per cent in the fourth quarter of 2024. This marks the lowest growth in the past five quarters. Asked if the Government is looking at a specific threshold, Chee said: 'I don't think we have a threshold in mind, because this is really a judgment call.' Speaking to reporters on the sidelines of the PA Family PLAYGround event held at Toa Payoh West Community Club, the minister said there are already early signs of price stabilisation in the HDB resale market. 'We will continue to monitor. I think if the situation continues to improve, then it will allow us to then make that judgment call of when we can remove, whether partially or entirely, the 15-month requirement,' he added. Between shortening the requirement and removing it, Chee said he leans towards scrapping it entirely. 'We haven't come to any decision yet, but my own view is that if the situation allows us to remove it entirely, I think we should consider that,' he said. Chee acknowledged that the 15-month requirement posed some inconvenience for private property owners looking to right-size and buy an HDB resale flat, but he said the cooling measure's objective remains valid. 'We want to make sure that resale flat prices do not rise too quickly and become unaffordable for buyers, especially first-time buyers who want to go into the resale market,' he said. 'I think that is an important objective that we must safeguard.' New hawker centre in Bishan At the community event, Chee also announced to Bishan-Toa Payoh GRC residents that Bishan will be getting its own hawker centre. The hawker centre is among several plans he had pledged to carry out for the constituency during the general election. The anchor minister for the GRC said then that many residents had pointed out that Bishan lacked a hawker centre. Minister for National Development Chee Hong Tat playing with children at the PA Family PLAYGround 2025's third stop at Toa Payoh West Community Club on June 21. PHOTO: The Straits Times Chee said more details will be shared after the Urban Redevelopment Authority unveils its Draft Master Plan 2025 on June 25. He said the hawker centre may be integrated with Bishan Bus Interchange, which is set to become an air-conditioned facility. Chee said the refreshed bus interchange may not be built on its existing site next to Junction 8, but it will be near its current spot where the town centre and Bishan MRT station are located. 'We want it (hawker centre) to be near the key transport nodes to make it more convenient for residents,' he said. The approach is in line with integrated facilities in Pasir Ris and Bidadari, where new hawker centres are built on top of or next to MRT stations or bus interchanges. Chee said it is one of the ways the authorities make full use of Singapore's scarce land resources. 'When we combine these different facilities serving different needs, I think we are able to, on one hand, optimise the use of land, and on the other hand, also bring about greater convenience for residents. 'So, it is win-win,' he said. ALSO READ: Resale flat prices may begin moderating from 2026 as new units reach MOP: Chee Hong Tat This article was first published in The Straits Times . Permission required for reproduction.
Straits Times
19 hours ago
- Business
- Straits Times
Private home owners may not have to wait till 2027 for change in HDB wait-out period: Chee Hong Tat
The HDB resale price index grew by 1.6 per cent in the first quarter of 2025, down from 2.6 per cent in the fourth quarter of 2024. PHOTO: LIANHE ZAOBAO Private home owners may not have to wait till 2027 for change in HDB wait-out period: Chee Hong Tat SINGAPORE – The wait-out period for private property downgraders looking to buy a resale flat may be relaxed before 2027, with an expected rise in supply of new and resale flats. Speaking at a community event in Toa Payoh on June 21, National Development Minister Chee Hong Tat said the supply of resale flats is expected to rise from 2026, as batches of Build-To-Order (BTO) flats affected by the Covid-19 pandemic hit their five-year minimum occupation period (MOP). Housing Board will also be launching more than 50,000 units from 2025 to 2027. Mr Chee said he expects that the effect of a strong continued supply of new BTO flats and resale units would moderate resale prices, making it timely for authorities to consider if the 15-month cooling measure should be partially or entirely removed. He added that private property owners may not need to wait till 2027 or 2028 for a review of the wait-out requirement, which was introduced in September 2022. 'So that's why I said (this would be considered) at the right time, when the resale market has stabilised, and when the supply of resale flats increase, which we think will happen in the next few years, because this year is actually the year where the turn will happen,' he said. The HDB resale price index grew by 1.6 per cent in the first quarter of 2025, down from 2.6 per cent in the fourth quarter of 2024. It is the lowest growth in the past five quarters. Asked if the Government is looking at a specific threshold, Mr Chee said: 'I don't think we have a threshold in mind, because this is really a judgment call.' Speaking to reporters on the sidelines of the PA Family PLAYGround event held at Toa Payoh West Community Club, the minister said there are already early signs of price stabilisation in the HDB resale market. 'We'll continue to monitor. I think if the situation continues to improve, then it will allow us to then make that judgment call of when we can remove, whether partially or entirely, the 15-month requirement,' he added. Between shortening the requirement and removing it, Mr Chee said leans towards scrapping it entirely. 'We haven't come to any decision yet, but my own view is that if the situation allows us to remove it entirely, I think we should consider that,' he said. Mr Chee acknowledged that the 15-month requirement posed some inconvenience for private property owners looking to right-size and buy an HDB resale flat, but he said the cooling measure's objective remains valid. 'We want to make sure that the resale flat prices do not rise too quickly and become unaffordable for buyers, especially first time buyers, who want to go into the resale market,' he said. 'I think that's an important objective that we must safeguard.' New hawker centre in Bishan At the community event, Mr Chee also announced to Bishan-Toa Payoh GRC residents that Bishan will be getting its own hawker centre. The hawker centre is among several plans he had pledged to carry out for the constituency during the general election. The anchor minister for the GRC said then that many residents had pointed out that Bishan lacked a hawker centre. Minister for National Development Chee Hong Tat playing a game at the PA Family PLAYGround 2025's third stop at Toa Payoh West Community Club on June 21. ST PHOTO: CHONG JUN LIANG Mr Chee said that more details will be shared after the Urban Redevelopment Authority unveils the Draft Master Plan 2025 on June 25. But he said the hawker centre may be integrated with the Bishan bus interchange, which is set to become an air-conditioned facility. Mr Chee said the refreshed bus interchange may not be built on its existing site next to Junction 8, but it will be near its current spot where the town centre and Bishan MRT station are located. 'We want it (hawker centre) to be near the key transport nodes to make it more convenient for residents,' he said. The approach is in line with integrated facilities in Pasir Ris and Bidadari, where new hawker centres are built on top of or next to MRT stations or bus interchanges. Mr Chee said it is one of the ways the authorities make full use of Singapore's scarce land resources. 'When we combine these different facilities serving different needs, I think we are able to, on one hand, optimise the use of land, and on the other hand, also bring about greater convenience for residents. 'So it's win, win,' he said. Join ST's WhatsApp Channel and get the latest news and must-reads.
Straits Times
20 hours ago
- Business
- Straits Times
Private homeowners may not have to wait till 2027 for change in HDB wait-out period: Chee Hong Tat
The HDB resale price index grew by 1.6 per cent in the first quarter of 2025, down from 2.6 per cent in the fourth quarter of 2024. PHOTO: LIANHE ZAOBAO Private homeowners may not have to wait till 2027 for change in HDB wait-out period: Chee Hong Tat SINGAPORE – The wait-out period for private property downgraders looking to buy a resale flat may be relaxed before 2027, with an expected rise in supply of new and resale flats. Speaking at a community event in Toa Payoh on June 21, National Development Minister Chee Hong Tat said the supply of resale flats is expected to rise from 2026, as batches of Build-To-Order (BTO) flats affected by the Covid-19 pandemic hit their five-year minimum occupation period (MOP). Housing Board will also be launching more than 50,000 units from 2025 to 2027. Mr Chee said he expects that the effect of a strong continued supply of new BTO flats and resale units would moderate resale prices, making it timely for authorities to consider if the 15-month cooling measure should be partially or entirely removed. He added that private property owners may not need to wait till 2027 or 2028 for a review of the wait-out requirement, which was introduced in September 2022. 'So that's why I said (this would be considered) at the right time, when the resale market has stabilised, and when the supply of resale flats increase, which we think will happen in the next few years, because this year is actually the year where the turn will happen,' he said. The HDB resale price index grew by 1.6 per cent in the first quarter of 2025, down from 2.6 per cent in the fourth quarter of 2024. It is the lowest growth in the past five quarters. Asked if the Government is looking at a specific threshold, Mr Chee said: 'I don't think we have a threshold in mind, because this is really a judgment call.' Speaking to reporters on the sidelines of the PA Family PLAYGround event held at Toa Payoh West Community Club, the minister said there are already early signs of price stabilisation in the HDB resale market. 'We'll continue to monitor. I think if the situation continues to improve, then it will allow us to then make that judgment call of when we can remove, whether partially or entirely, the 15-month requirement,' he added. Between shortening the requirement and removing it, Mr Chee said leans towards scrapping it entirely. 'We haven't come to any decision yet, but my own view is that if the situation allows us to remove it entirely, I think we should consider that,' he said. Mr Chee acknowledged that the 15-month requirement posed some inconvenience for private property owners looking to right-size and buy an HDB resale flat, but he said the cooling measure's objective remains valid. 'We want to make sure that the resale flat prices do not rise too quickly and become unaffordable for buyers, especially first time buyers, who want to go into the resale market,' he said. 'I think that's an important objective that we must safeguard.' Join ST's WhatsApp Channel and get the latest news and must-reads.
Straits Times
13-06-2025
- Politics
- Straits Times
New leadership development programme to train young Chinese community leaders
Minister for National Development Chee Hong Tat speaks to the council members during a luncheon held at Singapore Federation of Chinese Clan Associations on June 13. PHOTO: LIANHE ZAOBAO SINGAPORE - A new programme is being drawn up to train the next generation of leaders for Chinese community groups, including clan associations. As a first step, leaders from the Singapore Federation of Chinese Clan Associations (SFCCA) will meet with their counterparts from the Singapore Chinese Chamber of Commerce and Industry to set up a task force on the issue. 'We want to see how we can better attract more young people to join the Chinese community organisations and to strengthen our leadership pipeline, to be future-ready,' said Mr Chee Hong Tat, the newly appointed chairman of the Chinese Community Liaison Group (CCLG). Mr Chee, who is also Minister for National Development, said on June 13 that leadership development and succession will be one of his key focus areas for CCLG and Chinese community organisations. 'We do need to bring in our young leaders and give them time to gain experience, to learn, to get to know the Chinese community before they have to take over,' he said. 'The best time to do it is when the seniors are around and they can share their experiences and guide our young leaders to take on different roles and responsibilities.' Mr Chee was speaking to reporters after an introductory visit to the SFCCA in Toa Payoh, where he met with community leaders over a Teochew porridge lunch. He succeeded Law Minister Edwin Tong as CCLG's chairman on May 23. Mr Tong, who had held the post since November 2020, will continue to serve as CCLG's adviser. SFCCA president Thomas Chua said the issue of leadership succession is not a new one for clan associations. His organisation is the apex body of Chinese clan associations in Singapore, with about 250 members. 'Some of our clan members have successfully attracted more youth,' Mr Chua said. 'We should also get them to share their learning points in this process.' Minister for National Development Chee Hong Tat said on June 13 that leadership development and succession will be one of his key focus areas for CCLG and Chinese community organisations. PHOTO: LIANHE ZAOBAO Mr Chee said the new leadership programme could be organised annually, so cohorts of young leaders can be developed every year. The CCLG was set up in 2000 to deepen the Government's relationship with Chinese community organisations and strengthen cooperation among Chinese community groups. The group comprises political office-holders and MPs, who regularly engage the Chinese community. Strengthening cohesion within the Chinese community, as well as between the Chinese community and other groups in Singapore, is also on Mr Chee's agenda. 'Social cohesion is one of the key pillars of our social stability and social compact,' he said. 'And we also want to look at the integration of new immigrants as part of our work.' Mr Chee said immigration is important in rapidly ageing Singapore, as immigrants augment the Republic's population and contribute to its society. Asked about the potential of foreign influence affecting the community, given incidents where measures under the Foreign Interference (Countermeasures) Act were invoked, Mr Chee said the Chinese community – like all other communities here – should strengthen the Singaporean identity and enlarge the common space. 'Ultimately, we have to bear in mind that what is important is that we are all Singaporeans, and there's the common space that we have regardless of race, language or religion,' he said. He noted that Singapore is 'very open, globalised, and connected to the world, so we will have different influences coming from different parts of the world'. But the Republic's politics, development and destiny must be decided by Singaporeans, Mr Chee said. He added that it is important to develop social resilience so that community bonds are strong enough to withstand the challenges posed by episodes of foreign interference. A third priority is to help Chinese community organisations, especially clan associations, to modernise and transform their operations, Mr Chee said. 'They need to adopt new ways of working, new technologies, so that they are better able to meet the needs of the community and attract more young people,' he said. Chin Soo Fang is senior correspondent at The Straits Times covering topics such as community, politics, social issues, consumer, culture and heritage. Join ST's WhatsApp Channel and get the latest news and must-reads.
CNA
13-06-2025
- Politics
- CNA
Integrating new immigrants is one priority of Chinese Community Liaison Group: Chee Hong Tat
SINGAPORE: Integrating new immigrants to foster social cohesion will be a priority of the government's Chinese Community Liaison Group (CCLG) going forward, according to its new chair, National Development Minister Chee Hong Tat. Singapore's approach in doing so is to share and enlarge the "common space" rather than wanting new immigrants and minorities to assimilate, Mr Chee said on Friday (Jun 13). "We don't see integration as a reduction, but actually an enhancement, an enlargement and an addition to what we already have," he told reporters after meeting clan leaders at the Singapore Federation of Chinese Clan Associations (SFCCA). Singaporean identity and culture are not static but evolving, and being able to "absorb positive elements" from new immigrants is a plus for society, said the minister, who was appointed CCLG chair in May, succeeding Law Minister Edwin Tong. Using Singapore's food scene as an example, Mr Chee noted that in the past, Chinese immigrants to Singapore largely came from the south of China and brought their cuisine with them. These dishes – like Teochew fishball noodles, Cantonese wanton mee and Hokkien mee – have since become local staples. "But in more recent times, we also have additions to our food scene, with new items like dao xiao mian, biang biang mian, shou gan mian, and all different kinds of noodles from other parts of China. "Do they take away our traditional food like wanton mee and Hokkien prawn mee and fishball noodles? No, we continue to retain our traditional food favourites, but now we have additional options that our people can choose from. "So I think we should see immigration and integration positively, that they don't dilute what we have," said Mr Chee. "If we are able to maintain a strong sense of identity, if we are able to have that good process of integration, we actually are able to bring on board positive elements and further strengthen our sense of belonging, our identity and our common space." He noted that immigration is important to augment Singapore's rapidly ageing population. Elaborating on Singapore's different approach to integration, Mr Chee said: "We want every community to be able to preserve and retain their features that are important to them, the heritage, the traditions, the language, the food. "But then when we come together as Singaporeans, we enjoy one another's traditions and food and culture, and we enlarge the common space that all of us feel a shared sense of belonging." FOREIGN INTERFERENCE Strengthening cohesion within the Chinese community and with other communities is important because this is a "key pillar" of Singapore's social stability and social compact, Mr Chee said. Asked about foreign interference and the role of clan associations in strengthening Singaporean Chinese identity, he noted that Singapore is a "very open" society in which interference can come from different sources. "Singapore's politics, Singapore's development, Singapore's destiny must be decided by Singaporeans," he said, adding that there are laws and safeguards in place for this. "But what is equally important is to develop that social resilience in our community, so that when we come across episodes of foreign interference or developments that happen overseas that may cause an impact on our social cohesion, our community bonds are strong enough to be able to withstand these challenges." This is an area where the CCLG hopes to work with Chinese community organisations and the media to raise awareness, said Mr Chee. There are two other priorities CCLG has identified - to attract more young people to join Chinese community organisations and strengthen their leadership pipelines, and to modernise and transform the operations of clan associations. New immigrants could also form part of the leadership renewal of Chinese community organisations, said Mr Chee. "Some of them go to school in Singapore, they marry locally born Singaporeans, they set up families here. Some of the guys have done their NS (National Service). They are now working in Singapore, taken up citizenship," he said. "I think they are very much part of our society, and we should welcome them. We should try to see how we can tap on their strengths and their expertise to contribute back to society, including the Chinese community." Mr Chee, who was making his introductory visit to CCLG, said he had floated the idea of a leadership development programme that the government, SFCCA and Singapore Chinese Chamber of Commerce & Industry could work on together. Clan associations must also move with the times and adopt new technologies and methods of working in order to attract more young people, he added. The CCLG was established in 2000 to improve the government's relationship with Chinese community organisations and enhance cooperation among Chinese community groups. On Friday, CCLG also announced the 32 members of parliament joining Mr Chee in the group. Among them are five new office-holders:
