RESIDENTIAL MARKET
Six BTO projects with 4,627 flats launched
SIX Build-To-Order (BTO) projects, which will offer some 4,627 new flats were launched by the Housing and Development Board (HDB) yesterday.
The units, which range from studio apartments to five-room flats, will be offered in three non-mature towns (Choa Chu Kang, Punggol, and Sengkang), and one mature town (Kallang/Whampoa).
To ensure first-timers continue to enjoy priority in flat allocation, at least 95 per cent and 85 per cent of the supply (excluding studio apartments) in mature towns and non-mature towns respectively will be set aside for them, HDB said.
In addition, additional balloting chances in the ballot for the BTO projects at Compassvale Boardwalk in Sengkang, Keat Hong Pride in Choa Chu Kang, Punggol Edge and Waterway SunDew (fronting My Waterway@Punggol in Punggol Town) will be accorded to first-time applicants who have been unsuccessful for two or more BTOs in non-mature towns/estates.
Such additional chances will not be accorded to repeatedly unsuccessful first-time applicants who apply under the Sale of Balance Flats (SBF) Exercise or BTO project in mature estates.
Punggol Edge, which is bounded by Edgedale Plains and Tampines Expressway, will offer a mix of homeownership flats comprising five blocks with 688 units and one block of 446 rental flats. HDB said there will be more of such developments.
Prices for a three-room flat at Punggol Edge and Waterway SunDew, which are designed with eco-friendly features, start from $163,000 while prices for a five-room unit starts from $326,000.
Units in Keat Hong Pride start from $138,000 for a three-room flat and start from $284,000 for a five-room unit.
For a studio apartment at Bendemeer Light and McNair Towers, prices start from $124,000. A four-room unit in this mature town starts at $467,000.
This is the third BTO launch this year, and is part of HDB's plans to offer 25,000 BTO flats for 2012. In July, HDB will be offering about 3,900 new flats for sale in Bedok, Bukit Merah, Clementi, Geylang and Punggol.
Source: Business Times – 31 May 2012
Demand up in central region for resale units
MORE home hunters bought private resale homes in Singapore's central region in April, even though prices picked up marginally from the month before.
In recent months, buyers have tended to shun downtown addresses while suburban launches have been booming.
But 221 resale units were sold in the central areas last month, a healthy 3 per cent rise from March's 215 units.
The figure includes non-landed upper-middle to luxury homes in districts 1 to 4, and 9 to 11. It excludes shoebox apartments, defined as measuring 506 sq ft or smaller.
A recent report compiled by the National University of Singapore's Institute of Real Estate Studies found that overall resale prices inched up by 0.8 per cent in April. In the central region, prices rose by 1.6 per cent.
The resale market was driven by the fact that there were few project launches in the central region. Also, would-be buyers began to recognise that prices there were fairly attractive, after stagnating over the past six months.
Source: The Straits Times – 31 May 2012
Two big suburban projects go on sale
TWO large suburban launches are expected over the next two weeks - Sea Esta in Pasir Ris and River Isles in Punggol.
Market experts say the launches will test the strength of demand for new homes, given that sales have been defying gravity since the start of the year.
The string of new suburban project launches this year has seen healthy demand by HDB upgraders, with a staggering 9,200 new private homes sold in the first four months of the year.
Agents say Qingjian Realty's 610-unit River Isles at the junction of Punggol Central and Edgedale Plains will be previewed this weekend at average prices of about $850 per sq ft (psf).
Indicative prices of typical three-bedroom apartments, which make up about half of all the units available, start from $810,000, or $850 psf. Their sizes range from 893 to 1,183 sq ft, according to marketing material.
Two-bedders will start from $670,000, or $900 to $920 psf, while one-bedroom units will be priced from $440,000, or $940 to $1,000 psf.
Hoi Hup Realty's 376-unit Sea Esta in Pasir Ris Link will also be sold at similar prices of about $850 to $890 psf on average, agents say.
Its preview is expected to take place next weekend.
Three-bedroom units will cost $770,000 and upwards, while a buyer will have to stump up at least $590,000 for a two-bedder.
Experts say that in areas such as Punggol and Pasir Ris where many residential projects have already been launched, developers will have to watch their projects' pricings closely to remain attractive to home buyers amid stiff competition.
Source: The Straits Times – 31 May 2012
Now, the virtual showflat...
INSTEAD of heading out to a showflat, why not take an early peek on the iPad first?
To stand out from the crowd amid a slew of launches, Chinese developer Qingjian Realty has created an interactive virtual showflat for its 610-unit River Isles project which launches this weekend.
Going into iPad editions of The Straits Times, Lianhe Zaobao and The Business Times Weekend now, potential buyers will be able to take a virtual tour of the showflat for the Punggol Central condominium. They can 'walk through' the unit and zoom in to get more details with a tap of the screen.
Source: The Straits Times – 31 May 2012
COMMERCIAL MARKET
2 commercial properties in the CBD up for sale
Two commercial properties within the central business district have been put up for sale by expressions of interest yesterday.
A total of 90 retail and office strata-titled units at Peace Centre/Peace Mansion has been put on the market.
The total strata area of these units - including 11 residential units - amounts to some 283,908 square feet, and represents about 46 per cent of the total share value of the development.
The development comprises Peace Centre, a part-seven and part-10-storey commercial podium block; and Peace Mansion, a 32-storey residential tower comprising 84 apartments and two penthouses. It is sitting on a 76,617 sq ft site and has about 42 years of lease remaining.
There is also redevelopment potential for Peace Centre/Peace Mansion. Subject to the relevant authorities' approval, it can be redeveloped to the maximum of its current gross floor area/baseline record of 627,852 sq ft, exceeding the permissible plot ratio of 4.2 under the Master Plan 2008.
The second property put on the block is a 100 per cent strata interest in 700 Beach, an eight-storey office building located in Beach Road.
Within walking distance of the Nicoll Highway MRT station, the property comes with an indicative price tag of $120 million and 67,429 sq ft of strata area.
The property sits on a commercial-zoned site of 18,400 sq ft and existing plot ratio of 4.2, held in 55 strata title units and has obtained provisional outline planning permission for conversion to hotel use.
A 200 – room hotel can be built on the site.
Source: Business Times – 31 May 2012
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