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...
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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...
Waterbay, the latest executive condominium project at Punggol has seen strong demand from eligible home buyers when bookings opened October 19. Its developer Qingjian Realty said over 200 units out of a total of 383 units were snapped up. Qingjian said the three-bedroom and four-bedroom dual-key units were popular with the buyers, as were the penthouse units. Prices range from S$560,000 for a...
National Development Minister Khaw Boon Wan said recent sales numbers do not suggest a speculative element in Housing and Development Board (HDB) shops, and it will not be tenable for HDB to impose new restrictions like stricter citizenship eligibility. In a written parliamentary reply to MP Ong Teng Koon, Mr Khaw said Singaporeans and Singaporean-owned companies own about 95 per cent of the sold shops,...
As Punggol moves into the next chapter of its development, it could potentially become Singapore's biggest housing town - twice that of Ang Mo Kio today - and feature the Republic's newest seafront public housing estate. National Development Minister Khaw Boon Wan on Tuesday outlined several new ideas characterising Punggol Phase II, which will cover developments over the next 15 years and...
Minister for National Development Khaw Boon Wan said there is no need for the Housing and Development Board (HDB) to build executive maisonettes (EMs) again, as executive condominiums (ECs) already include double-storey units similar to EMs. Mr Khaw made this point in a written parliamentary response to a question from Member of Parliament for Pasir Ris-Punggol Group Representation Constituency, Gan Thiam...
Singles are buying fewer Housing and Development Board (HDB) resale flats in the recent four years. Between 2007 and 2011, singles bought an average of 4,300 units a year. That is down from a yearly average of 5,600 between 2002 and 2006. The figures came in a written parliamentary reply from the Ministry of National Development to questions from Member of Parliament for Pasir Ris-Punggol Group...
National Development Minister Khaw Boon Wan said home buyers are currently paying above the value assessed by professional valuers as it is "a seller's market". Mr Khaw was replying to a parliamentary query by Member of Parliament for Tampines Group Representation Constituency, Baey Yam Keng, on the increasing cash-over-valuation figures. Mr Khaw said the basis of valuation for all HDB flats are the...
A land parcel at Woodlands Avenue 6/Woodlands Drive 16 for executive condominium (EC) development has attracted a total of five bids at the close of tender. The top bid was jointly placed by Fraser Centrepoint's unit - Opal Star and Lum Chang's Binjai Holdings for about S$150.2 million, or about S$302 per square foot per plot ratio (psf ppr). According to the Housing and Development Board, the top bid...