The Government is considering having different kinds of leases for new HDB flats in the Greater Southern Waterfront as well as the new central business district in Jurong, National Development Minister Lawrence Wong said on Thursday (Aug 11). "Frankly if I have a HDB flat there, and it's highly subsidised, the person who gets the flat has a huge gain, and how do you ensure equity for the guy who gets...
Sales of new private homes rebounded last month as more projects were launched in July. Excluding executive condominiums (ECs), property developers sold 1,091 units in July, around double the 536 units sold in June, data from the Urban Redevelopment Authority (URA) showed on Monday (Aug 15). Including ECs, 1,921 units were sold, up from June’s 768 units. Of the sites launched, private development...
The growing vacancy rate in the private housing market is something property developers have been harping on for the past couple of years. At 8.9 per cent, official data shows the vacancy rate for private residential units at a 16-year-high, nearing levels seen in the aftermath of the 1997 Asian financial crisis. Based on a March report by property firm Colliers, the number of mortagee sales – at 70...
Residents of Blocks 513 to 520 West Coast Road will have to move after the site was picked for the Selective En bloc Redevelopment Scheme (SERS), the Housing and Development Board (HDB) said on Wednesday (Aug 3). The blocks affected are about 37 years old, and they comprise 994 units in total. This is the 80th site to be selected for the scheme, HDB said in a press release. “SERS offers the...
PROPERTY developer OUE Limited is acquiring two land parcels within Singapore's most exclusive Good Class Bungalow enclave for S$56.6 million. In an announcement on Thursday evening, it said that it has successfully tendered for the two land parcels totalling 3,100 square metres at 28 Nassim Road, which are adjacent to Eden Hall, the residence of the British High Commissioner. The bid price was...
THE private housing market regained some momentum last month, as developers sold 1,091 private homes (excluding executive condominiums), more than double the 536 units sold in June. Consultants attribute the marked increase to the pick-up after the mid-year lull. June is when buyers tend to hold off buying and developers hold back new launches due to the school holidays. But consultants say July's...
THE Urban Redevelopment Authority (URA) has launched a residential site at Fernvale Road for sale by public tender on Tuesday under the confirmed list of the second-half 2016 Government Land Sales (GLS) programme. The 99-year lease site can potentially yield about 605 residential units. It is located at the corner of Future Road and Fernvale Road. The tender for the land parcel will close at 12pm on...
A developer from mainland China is likely to have triggered the plum Central Boulevard site from the government's reserve list, The Business Times understands. Urban Redevelopment Authority (URA), which announced on Friday that the site had been triggered for launch, did not name the party that successfully applied for the site's release. The applicant has undertaken to bid at least S$1.536 billion -...
DEVELOPERS launched 624 private homes (excluding executive condominiums) in July and sold 1,091 units, based on figures from the Urban Redevelopment Authority (URA) released on Monday. The launch volume was more than twice June's 234 units, while the sales volume also doubled from June's 536 units. Some 464 units sold (out of 500 launched) at MCL Land's Jurong West condominium Lake Grande in July...
THE Urban Redevelopment Authority (URA) will launch for public tender a plum site along Central Boulevard in the Marina Bay area after an unnamed party made a successful application for the site's release. The white site is on the Reserve List of the Government Land Sales programme for H2 2016. The developer has committed to bid at a price of at least S$1.536 billion at tender; this works out to S$1,010...