Question:
My wife and I are planning to have a child next year. Raising a child is not easy, and we need the help of our parents. We would like to move closer to our parents’ house near Pasir Ris MRT to spend more time with them. We will apply for an HDB Proximity Housing Grant (PHG).
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What are the latest HDB resale prices near Pasir Ris MRT?
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We understand that there is an ethnic quota placed in HDB blocks. I am an Indian Singaporean, and my wife is a Malay Singaporean. How do I know if we are eligible to buy a unit from an HDB block in Pasir Ris?
Answer
1. Latest HDB resale prices near Pasir Ris MRT
According to SRX Property, the Median Resale Prices of HDB Flats within one kilometre of Pasir Ris MRT versus the Overall Median Resale Prices of HDB Flats in Pasir Ris:
As the figures show, you will pay a premium to live closer to Pasir Ris MRT. However, being near the MRT might mean you can save on transport and not have to buy a car. Also, White Sands Shopping Centre is part of the same complex as the station so it would be convenient if you chose to live nearby.
Pasir Ris resale volume is beginning to pick up again. In 2015, there were 621 transactions, which is the highest in 3 years since the start of ABSD and TDSR.
With prices stabilising and the number of transactions in the area increasing, 2016 is as good a year as any to buy an HDB. We are currently in a buyer’s market because it is possible to find flats at fair value or at a slight discount. This will not last forever. As long as you buy within your budget and at or below the X-Listing Price, which is backed by an SRX Valuation, you can be confident that your investment will pay off in the long run.
To discover HDB resale properties for sale near Pasir Ris MRT, browse through the listings in the Classifieds or visit SRX.com.sg and type in Pasir Ris MRT in the search bar.
Depending on your preference, the properties can be sorted based on (a) Listed Date (b) Price (c) Size (d) PSF (e) Number of Bedrooms (f) Property Agencies (g) and Name of Property Agent.
You can even take a Virtual 360 tour from the comfort of your home for some of these properties on the website. These interactive videos of properties can also be directly accessed from the Straits Times Classifieds App that you download from the App Store.
2) We understand that there is an ethnic quota placed in HDB blocks. I am an Indian Singaporean, and my wife a Malay Singaporean. How do I know if we are eligible to buy a unit from a HDB block in Pasir Ris?
HDB has established the Ethnic Integration Policy (EIP) to preserve Singapore’s multi-cultural identity and promote racial integration. It ensures that there is a balanced mix of the ethnic communities in HDB towns.
The ethnic group of a household is based on the head of the household (which in your case is Indian) regardless of whether you are listed as the main applicant, co-applicant or occupier.
To check your eligibility, enter an HDB block into the search bar at SRX.com.sg. Then scroll down the listing page and view the section Am I Eligible to Purchase?
In the following table for Blk 531 Pasir Ris Drive 1, notice that all the ticks are green. This means that Blk 531 Pasir Ris Drive 1 has not reached the Ethnic Quota yet. Hence, you are eligible to purchase a unit from this Block.
However, if you were interested in Blk 559 Pasir Ris Street 51, the red ticks in the following table mean that you are not allowed to buy any units from a Chinese and Malay owner. The Ethnic Quota limits you to purchasing units from Indians (Singaporeans, or Malaysian SPR, or Others Malaysian SPR).
I hope that this answers your questions. As always, I recommend that you engage a qualified real estate agent to help you purchase an HDB. There are many regulations, and it is good to have someone knowledgeable to help you with the process. Also, an agent can help you with establishing the X-Listing Price and negotiating the right home at the right price. To look for a qualified agent, visit srx.com.sg/srx-agents