A subsidiary company of City Developments (CDL) is the top bidder for a site to develop an executive condominium (EC) at Sengkang West Way/Fernvale Link. The land parcel received a total of six bids at the close of tender on Thursday. Verspring Properties has put in the highest bid of S$135 million or S$296 per square foot per plot ratio (psf ppr). This is 0.1 per cent higher than the second highest...
hdb news
Public housing flats built under the Design, Build and Sell Scheme (DBSS) appear to have fallen out of favour with home buyers in recent months. Analysts say there are about 1,000 units of unsold DBSS flats and sales could slow as a result of the large pipeline of new Build-To-Order flats (BTO) and executive condominiums (EC). But they say DBSS flats will enjoy healthy capital gains going forward. These...
Former Minister Mentor Lee Kuan Yew said public housing has to keep up with the rising aspirations of Singaporeans and that the facilities and design of older estates should also not fall behind newer ones. Mr Lee was speaking at a tree planting event at Havelock View on Sunday. Many residents of Havelock View turned up to welcome Mr Lee Kuan Yew who was there as part of the Tree Planting day...
In a report by Channel NewsAsia, it is understood that the owners of the record-setting Heron Bay penthouse are a young couple, who are also first-time property buyers. The unit was sold for S$1.77 million - a high price for an executive condominium in Singapore. Couples cannot exceed a monthly household income of S$12,000 if they want to buy an executive condominium unit. Analysts say the buyers of the...
Heron Bay, the deluxe Executive Condominium located at Upper Serangoon View, opened for sale over the weekend and some 90 per cent of the units have been snapped up. The project by Serangoon EC, a joint venture company between CNH Investment, Evia Real Estate Management, Ho Lee Group and See Hup Seng, received more than four times the number of e-applicants for its 394 units. Units in the project - which...
Singapore's private home prices in the third quarter rose 0.6 per cent from the previous quarter. This is the highest rate of increase this year compared to the 0.1-per cent drop in the first quarter and the 0.4-per cent increase in the second quarter. It was also higher than the flash estimate of 0.5 per cent released earlier this month. Meanwhile, resale prices of Housing & Development Board (HDB)...
An executive maisonette in Hougang has been sold with a record Cash-Over-Valuation (COV) of S$225,000, about five times the average COV paid for such properties. COV is the cash premium buyers pay for a resale HDB flat. The flat is located at Block 237, Hougang Street 21. According to property portal SRX, the 148 square-metre maisonette was sold on October 16 for S$900,000 including COV. Property...
To address the needs of Singapore’s lower-income families, the government will build some 2,000 rental flats starting next year, reported The Straits Times. This is part of the government’s plan to deliver 57,000 rental flats by 2015, in response to growing demand. A spokesperson from the HDB said it is “on track” to meet the government’s target of 50,000 rental flats by this year. The 2,000...
The Housing & Development Board (HDB) has been conferred six prestigious industry awards. Five projects -- My Waterway@Punggol, Punggol East, Greenwood Sanctuary@Admiralty, Casa Clementi and Ghim Moh Valley -- won the International Real Estates Federation (FIABCI) Singapore Property Awards 2012. My Waterway@Punggol also clinched the Institution of Engineer Singapore (IES) Prestigious Engineering...
More executive condominiums (ECs) are now selling for more than S$1 million. Research from real estate agency Savills Singapore has shown that over 300 new ECs were transacted above S$1 million, with half of these transacted in the first eight months of 2012. The report said there are a "seemingly growing number of young, affluent buyers snagging bigger and more luxurious penthouses...". Other factors...