665-unit executive condominium launch in Yishun today
YET another executive condominium, the popular public-private housing hybrid, is being launched, this time in Yishun amid a cluster of private housing.
The 99-year leasehold EC, 1 Canberra, is being launched today and property experts expect prices to be reasonable.
Industry sources said that average per sq ft (psf) prices are likely to range from $680 to $720.
The 665-unit EC along Canberra Drive includes three- and four-bedroom units as well as five-bedroom penthouses.
It also boasts dual-key apartments; a studio typically attached to either a three- or four-bedder to enable extended families to live together.
At 1 Canberra, three-bedders measure 950 sq ft to 1,259 sq ft, ranging from compact units without a yard space, standard and dual-key units.
Four-bedders are at a size of about 1,250 sq ft to 1,442 sq ft.
Five bedroom penthouses range from 2,250 sq ft to 2,713 sq ft.
The project is developed by MCC Land (Singapore) and is expected to be ready before the third-quarter of 2015.
Source: The Straits Times – 27 April 2012
HDB may stop releasing all COV data
THE Housing Board may be relooking its policy of releasing official cash-over-valuation (COV) figures of resale HDB flats, according to top executives of some property companies.
They say the board has signalled through its actions and in private conversations its intention to stop publishing these figures altogether, a move that would put the final nail in the coffin of a measure that is criticised for pushing up prices in the resale market.
With COVs stable, realtors like Mr Eugene Lim believe it is 'the best time' to hold back this last measure.
Mr Lim, who is key executive officer at ERA Realty, explained that in a bull market with COVs soaring, not having an official figure to refer to will intensify the escalation of cash premiums, as figures will be tossed around willy-nilly by agents.
COVs have now dropped one-third from their 2011 peak to average around $25,000 to $30,000, said realtors.
The fall is due largely to an aggressive set of measures to cool the property market, and rules being tweaked to let more people buy new flats from HDB.
In fact, calls have grown from realtors over the past few months for the HDB to get rid of its COV figures.
These figures put agents under pressure in a softening market, because sellers tend to take them as a base for the cash premium they desire regardless of the individual peculiarities of their property.
Buyers and sellers will still seek the information from their agents, as this would leave property agency’s data as the only source of COV information.
Source: The Straits Times – 27 April 2012
Pasir Ris One DBSS project to be launched
The latest public housing project to be sold under the Design, Build and Sell Scheme (DBSS) will be launched on Friday, April 27.
Pasir Ris One is also widely believed to be the last DBSS development, following the government’s move to suspend land sales for such projects last year.
The 447-unit development, located at Pasir Ris Central next to the MRT station, comprises 3-room to 5-room units.
A 3-room flat with a floor area of 65 square metres has an indicative price of between S$390,000 and S$490,000, while a 4-room unit will be selling for S$550,000 to S$670,000.
A 105-square-metre 5-room flat has an indicative price of between S$650,000 and S$770,000.
The development has an overall indicative price S$637 per square foot, said developer SingXpress Land.
Pasir Ris One is a joint development by SGX-listed SingXpress Land and Kay Lim Holdings.
Market watchers said they expect the project to draw a fairly strong demand from home buyers, due to its location and better finishing and designs.
Property experts said DBSS projects might no longer be relevant, as home buyers looking for more than a BTO flat also have the option of Executive Condominiums, which have facilities such as a swimming pool.
Source : Channel NewsAsia – 26 Apr 2012
Jade Towers sold for S$106.27m in a collective sale
Jade Towers, a residential development in the Upper Serangoon area, has been sold to Roxy Residential – a wholly-owned subsidiary of Singapore-listed Roxy Pacific – for S$106.27 million according to Channel NewsAsia.
The sales price translates to a unit land rate of S$807 per square foot per plot ratio and no development charge is payable.
Each owner can potentially receive gross sale proceeds of approximately S$1.476 million or S$1,016 psf on strata area.
This is higher than the S$700 to S$750 psf price if the apartments were to be sold individually in the secondary market.
The site spanning 92,412 sq ft can potentially be redeveloped into a condominium development with up to a maximum of 171 apartments averaging 753 sq ft. The breakeven cost is estimated to be between S$1,200 and S$1,250 psf.
The sale is subject to Strata Titles Board approval.
Source: Channel NewsAsia – 26 April 2012
Novena Ville up for en-bloc sale
Novena Ville, a 43-unit mixed-use development along Thomson Road, has been put up for en-bloc sale.
The site is expected to be hotly contested as it has the potential to accommodate shops on the ground floor.
Credo adds that the sellers are expecting offers in the region of S$125 million to S$135 million.
The freehold site has an area of 51,092 square feet and with a Gross Plot Ratio (GPR) of 1.4 and an allowable height of up to four storeys.
Depending on the quantum of commercial and residential GFA proposed, the prices translate to land rates of about S$1,748 to S$1,887 psf/pr for redevelopment up to a GPR of 1.4.
If the extra 10 per cent allowance for the balcony space of the residential component is included, the land rates will be reduced to the range of S$1,626 to S$1,756 psf/pr, as no development charge is payable for redevelopment of the site.
Source : Channel NewsAsia – 25 Apr 2012
No comments:
Post a Comment