MORE than 26,000 people had applied for the nearly 8,000 units being offered in the Housing Board's latest sale of flats when applications closed yesterday - a subscription rate of 3.3.
The most popular BTO flats were in three blocks in Clementi located next to Trivelis, a Design, Build and Sell Scheme project.
National Development Minister Khaw Boon Wan said in a blog post yesterday that overall subscription rates for first- and second-timers generally dipped compared to past launches. More applicants are taking advantage of the Married Child Priority Scheme to live near their parents.
Source: The Straits Times – 4 April 2012
Kheng Leong tops bids for Fernvale EC site
A 99-year leasehold executive condominium site at Fernvale Lane yesterday drew a top bid of $245 million, or $295.60 per square foot per plot ratio (psf ppr).
The top bid, which was put up by Peak Living, a subsidiary of Kheng Leong Group, beat the second highest offer of $290.03 psf ppr put up by Frasers Centrepoint's FCL Tampines Court and Keong Hong Construction. EL Development and City Developments' Sunmaster Holdings bid $284.86 psf ppr and $280.52 psf ppr respectively for the site.
Analysts noted that the bid was lackluster, citing the lack of MRT and amenities within the vicinity as possible factors for the conservative bidding value. Some suggested that a nearby land parcel zoned for B2 industrial use could also have given rise to the conservative bidding value.
Overall, analysts expect the breakeven price to be within the range of $550 to $660 psf and the target selling price will be between $670 - $720 psf. The subject site has a land area of 236,804 sq ft and a plot ratio of 3.5, which translates to a gross floor area of 828,816 sq ft.
Source: Business Times – 4 April 2012
Strong buyer interest in Toh Yi studio flats
Toh Yi project in Bukit Timah - known as Golden Kismis – received robust response from the public since it began its applications last week. There were about three applicants for every two units - or a subscription rate of 1.6 - when applications drew to a close yesterday.
The robust response is comparable to recent BTO launches of studio apartments, which are becoming more popular, say property agents. Studio apartments are getting more popular because as the population ages, many elderly couples prefer to downsize, unlock their asset appreciation and monetise for a better lifestyle with the excess funds for old age.
Source: The Straits Times – 4 April 2012
SINGAPORE
Wealthy foreigners can't 'buy' PR status anymore
Wealthy foreigners who want their PR application expedited will now have to apply under a different scheme for well-heeled entrepreneurs from abroad who invest in businesses here.
The Monetary Authority of Singapore (MAS) will be scrapping the Financial Investment Scheme (FIS) by the end of this month. The FIS allows wealthy foreigners with net personal assets of $20 million - and at least $10 million of assets held in Singapore for five years - to get onto a fast track and apply for PR status through private banks or other financial institutions via MAS.
Now that this scheme is being axed, wealthy foreigners can still apply for PR status under the Global Investor Programme (GIP) - a scheme that allows entrepreneurs from abroad to obtain PR.
Unlike FIS, where assets held in Singapore are the main criterion, GIP is aimed at entrepreneurs who have a track record in corporate circles, and is a scheme that can boost employment locally.
To obtain PR status under the current terms of GIP - which was tweaked as recently as 2010 - foreigners must have $2.5 million invested in a new business entity or expansion of an existing business operation. Their company should have an annual turnover of at least $30 million. And these businessmen, from 2010, have also not been allowed to include the cost of buying a private home as part of their required investment.
Source: Business Times – 4 April 2012
No comments:
Post a Comment