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...
real-estate
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...
The Urban Redevelopment Authority (URA) closed the tender for the residential with 1st storey commercial site at Tai Thong Crescent today after receiving a total of 8 bids. The highest bidder for the 99-year lease site is Verwood Holdings Pte. Ltd. and Intrepid Investments Pte. Ltd at S$245 million. The site at Tai Thong Crescent was launched for sale by public tender on 30 July 2012. It was originally...
Developers with luxury residential projects seem to be delaying the launches and, in some cases, completions as they await the anticipated uptick in the high-end segment, according to a report in Straits Times. While homes in suburban areas are selling well at record high prices, sales volumes in the luxury sector is anaemic and prices are languishing over the past year. In a report by property...
The Housing and Development Board (HDB) tender for the land parcel at Punggol Way/Punggol Walk for Executive Condominium Housing Development has attracted three bids at the close on Tuesday. The top bid came from Qingjian Realty (South Pacific) Group Pte Ltd at S$189.87 million or $3,375.86 per square metre. This works out to S$314 per square foot per plot ratio. The top bid was just 1 percent higher...
The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Farrer Road to Far East Soho Pte. Ltd. The company submitted the highest bid in the tender for the site at $45.777 million or $11,924.20 per square meter of gross floor area (GFA). With a land area about 0.27 ha, the residential site is expected to generate a GFA of about 3,839m². Tender for the 99-year lease...
With the Council for Estate Agencies (CEA) coming down hard on the industry, there is a growing need for real estate agents to protect themselves. As estate agents look to renew their license this month, many will also be updating their professional indemnity insurance to help safeguard their rights. “By taking up the right type of Real Estate Professional Indemnity Insurance coverage, it also takes...
It is that time of the year when many Chinese Singaporeans shy away from undertaking major projects or "risky" activities during the Hungry Ghost Festival. The festival, which occurs during the 7th month of the lunar calendar, has affected everything from renovation to marriages. But observers said the property market has not really been affected this year. Property analysts said new projects are still...
Two industrial sites at Sunview Road and Tuas South Street 8 have been launched for public tender by JTC Corporation. Both sites have been slated for clean and light industrial uses only. The site at Tuas South Street 8 has a shorter tenure of 22 years. This is in line with the government's efforts to make industrial property more affordable. Still, some analysts believe the site will attract strong...