$285.2m top bid for Tanah Merah residential site
A residential site in Tanah Merah has attracted a bullish top bid of
$285.2 million in a closely fought 13-way tussle - in a sign developers
are still hungry for well-located mass-market plots.
A joint bid by Fragrance Group and World Class Land topped the table
with a bid of $676 per sq ft (psf) per plot ratio (ppr). The 14,000 sq m
site is set to boast an estimated 415 homes.
Experts say that the strong tender response is largely due to the
site's proximity to Tanah Merah MRT station and the expectation of very
keen demand from buyers interested in this locality.
Another possible plus factor is the site next door, which has a
commercial zoning and is likely to have retail facilities should it be
sold and developed.
This would enhance the convenience of the site as well as others in the vicinity.
ERA Realty key executive officer Eugene Lim noted that developers are "optimistic on the site and its potential".
Residential sites within walking distance of MRT stations have proven
to be a formula for success, and usually sell out, he added. Mr Lim
expects a breakeven price of just below $1,000 psf and an estimated
selling price of $1,200 psf to $1,300 psf.
As the site is close to the predominantly landed residential area of
Bedok Road, Simpang Bedok and Lucky Heights estate, there could be a
sizeable portion of potential downgraders from these landed properties.
Source: The Straits Times – 1 August 2012
Grant for low-income households enhanced
Singapore - About 17 months after the Special CPF Housing Grant (SHG)
was introduced to help low-income households own their first flat, it
has been enhanced to expand the housing options for these families.
Announcing the launch of seven new Build-To-Order (BTO) projects yesterday - offering almost 4,200 flats - the Housing and Development Board also announced the enhancement of the SHG: Households earning S$1,500 and below that are looking to buy their first flat can qualify for a grant of S$20,000 when they buy a three-room standard flat in non-mature estates. Previously, these households qualified for the SHG only if they bought a two-room standard flat in non-mature estates.
SHG-eligible households would have to undergo credit assessment if they are taking an HDB loan to ensure that they are able to afford the monthly instalments before they can proceed with their flat purchase.
ERA Realty Network Key Executive Officer Eugene Lim welcomed HDB's move. "For this income group, price quantum is crucial as this is a long-term commitment," he said.
The enhancement will take effect from the HDB's launch of the new BTO projects yesterday. These projects offer new flats in two non-mature estates (Choa Chu Kang and Punggol) and three mature estates (Bukit Merah, Clementi and Geylang). Applications for these flats can be submitted online until Aug 6.
This is the fourth BTO launch this year and the HDB said remains on track to launch 25,000 flats this year.
More than 6,000 flats will also be up for sale next month: Some 3,700 new BTO flats in Ang Mo Kio, Choa Chu Kang, Kallang/Whampoa, Tampines and Woodlands, as well as 3,000 flats under the Sale of Balance Flats (SBF) exercise.
Analysts TODAY spoke to noted that many buyers may adopt a wait-and-see attitude for the BTO projects launched yesterday - given the combined BTO and SBF launch next month.
Said Mr Lim: "The popular sites such as the one in Telok Blangah will still see a good response but, (in) sites which are not as attractive, we may see a washout as buyers would prefer to wait for the next round."
Source: Today – 1 August 2012
Announcing the launch of seven new Build-To-Order (BTO) projects yesterday - offering almost 4,200 flats - the Housing and Development Board also announced the enhancement of the SHG: Households earning S$1,500 and below that are looking to buy their first flat can qualify for a grant of S$20,000 when they buy a three-room standard flat in non-mature estates. Previously, these households qualified for the SHG only if they bought a two-room standard flat in non-mature estates.
SHG-eligible households would have to undergo credit assessment if they are taking an HDB loan to ensure that they are able to afford the monthly instalments before they can proceed with their flat purchase.
ERA Realty Network Key Executive Officer Eugene Lim welcomed HDB's move. "For this income group, price quantum is crucial as this is a long-term commitment," he said.
The enhancement will take effect from the HDB's launch of the new BTO projects yesterday. These projects offer new flats in two non-mature estates (Choa Chu Kang and Punggol) and three mature estates (Bukit Merah, Clementi and Geylang). Applications for these flats can be submitted online until Aug 6.
This is the fourth BTO launch this year and the HDB said remains on track to launch 25,000 flats this year.
More than 6,000 flats will also be up for sale next month: Some 3,700 new BTO flats in Ang Mo Kio, Choa Chu Kang, Kallang/Whampoa, Tampines and Woodlands, as well as 3,000 flats under the Sale of Balance Flats (SBF) exercise.
Analysts TODAY spoke to noted that many buyers may adopt a wait-and-see attitude for the BTO projects launched yesterday - given the combined BTO and SBF launch next month.
Said Mr Lim: "The popular sites such as the one in Telok Blangah will still see a good response but, (in) sites which are not as attractive, we may see a washout as buyers would prefer to wait for the next round."
Source: Today – 1 August 2012
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