Minister for National Development Khaw Boon Wan on Saturday assured singles that he is looking into their housing concerns. Mr Khaw, however, adds that he needs some time as his current focus is on the immediate needs of the second-time flat applicants, until they are largely addressed next year. The minister also wants to have a better handle over the likely additional demand on new HDB flats when the...
General
The Ministry of National Development (MND) is seeking new and innovative research and development (R&D) proposals to boost land capacity and create a more liveable environment in Singapore. “Over the past decades, despite land constraints, we have worked towards developing Singapore as a liveable and sustainable city. As we strive towards future growth, there will continue to be demand for land for...
Properties located close to upcoming Thomson Line MRT stations are enjoying greater interest from potential buyers. A condominium project at Rosewood Drive in Woodlands saw sales almost double a week after the announcement of the new MRT line. Some property analysts say noise from the construction of the new line could have downward pressure on the prices, but it should not be a problem in the long...
A freehold residential development, Chateau Eliza, at Mount Elizabeth has been sold en bloc for S$92.2 million. It was sold to a consortium of private investors, Newfort Realty, and was the development's third tender attempt. This is also the 20th successful collective sale deal concluded in Singapore this year. With the sale, each apartment owner stands to receive gross sales proceeds of between S$2.08...
The cash-over-valuation (COV) component in HDB resale transactions is rising and it could hit over S$200,000 soon. COV refers to the sum of cash that needs to be paid by a buyer over and above the market valuation of a flat. Real estate agents said the median COV paid for HDB resale flats has risen by about 12 percent to S$30,000 in the third quarter so far. But for a Bishan unit, the COV has hit a...
The Urban Redevelopment Authority (URA) has awarded the tenders for the industrial site at Yishun Avenue 9 (Parcel 5) and the residential with 1st storey commercial site at Tai Thong Crescent today. Tender for the industrial site was launched on 27 June 2012 and closed on 30 August 2012. The land parcel was offered for sale on a 30-year lease term. The successful tenderer is Soon Hock Tuas Development...
A Housing and Development Board (HDB) executive maisonette in Bishan has been sold at a whopping price of S$980,000 or S$550 psf, a new record for the costliest HDB resale flat. Sold by a Singaporean woman, the unit was bought by a Singaporean and her China national father, reported The Straits Times. The sale price of S$980,000 is inclusive of S$200,000 in cash-over-valuation (COV), reportedly the...
The Government's long-awaited policy measure on "shoebox" apartments was finally announced this week and it has made far less of an impact than earlier feared. The new Urban Redevelopment Authority (URA) guideline, kicking in on Nov 4, seeks to cap the number of shoebox units for projects in suburban areas based on a formula that stipulates that the average size of homes will need to be at least 70 sq...
Thomson View Condominium, a 99-year leasehold residential development located along Upper Thomson Road, has been sold en bloc for S$590 million. Its marketing agent HSR International Realtors said in a statement that this is the largest collective sale deal outside the prime districts of 9, 10 and 11. It added that the deal reflects the return of confidence among major developers for collective sales...
A man who positioned himself as a salesperson has been taken to task by the Council for Estate Agencies (CEA). CEA has filed six charges against Tan Hock Khin, 41. The charges against Tan include holding himself out as a salesperson without being registered with the council, and for impeding CEA inspectors from lawfully gathering evidence of the offences. CEA's allegations are that Tan was not...