News Update - 18 April 2012

RESIDENTIAL MARKET


Harbour View Gardens up for sale

FREEHOLD residential development, Harbour View Gardens, is being put up for collective sale, with an indicative price of between $36 million and $38 million.

This translates to between $836 and $883 per square foot per plot ratio, based on the site area of 30,745 sq ft.

Under the 2008 Master Plan, the site is zoned for "residential" use, with a gross plot ratio of 1.4.

The three-storey residential development, which is located at 211/A to 223/A Pasir Panjang Road, comprises 14 units - seven maisonettes with an average floor area of 2,411 sq ft each and seven walk-up apartments with an average floor area of 1,195 sq ft each.

Upon success of the collective sale, each owner could receive between $1.6 million and $3.6 million.

The successful buyer could re-develop the site to accommodate a five-storey residential development comprising some 50 units of 775 sq ft each, subject to relevant authorities' approval.

Source: Business Times – 18 April 2012

SC Global unveils luxury project at Ardmore Park

SC GLOBAL Developments has unveiled its plans to develop its latest luxury project, the Sculptura Ardmore, on the highest point of the exclusive Ardmore Park neighbourhood.

The 36-storey freehold tower located at 8 Ardmore Park will offer 35 apartments ranging from 2,800 square feet to 11,000 sq ft, built on a one-acre site with a gross floor area of 140,000 sq ft.

The smaller units, which comprise 19 apartments ranging from 2,800 sq ft to 3,000 sq ft, will take up the 5th storey up to the 16th storey. Another 12 units have areas varying from 3,200 sq ft to 4,000 sq ft.

The more generous sized units are single-floor apartments with private lap pools. The smallest is a four-bedder of around 4,200 sq ft, while the largest is a super penthouse boasting a staggering 11,000 sq ft.

So far, there has been no indicative pricing released for the project, and the expected launch date is still being decided upon, the developer said.

Source: Business Times – 18 April 2012

S'pore still most liveable city for Asian expats

SINGAPORE has once again been crowned the most liveable city in the world for Asian expatriates, according to the latest location ratings released by ECA International, retaining its top spot out of 265 locations worldwide.

Updated annually, ECA International's ratings are based on a wide range of factors, from which locations are assessed and ranked accordingly.

Lee Quane, regional director of ECA International, Asia, credits Singapore's position as one of only two Asian cities in the global top 10 to its "good air quality, excellent infrastructure and healthcare facilities, low crime and health risks".

Its geographical location in the heart of South-east Asia makes the city-state even more appealing to Asian expatriates, thanks to its close distance to their homes, relatively low culture and language barriers and its comfortable climate.

Air pollution proved to be the crucial stumbling block for Singapore's long-time regional rival, Hong Kong, one of the "worst countries in the world for air quality".

"Hong Kong is very liveable city in many respects," said Mr Quane of the city, which came in ECA's ranking. However, its poor air quality was a serious consideration for any employees intending to relocate there.

Source: Business Times – 18 April 2012