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Posted by on in Commercial
The government has released four industrial sites for tender - two in Gambas Crescent in the Sembawang/Woodlands area and two in Tuas South. These are the first four plots to be offered under the confirmed list of the second-half 2013 Industrial Government Land Sales (GLS) Programme.

Property consultants generally expect the Gambas land parcels - located about 700 metres from Sembawang MRT Station - to fetch higher winning bids than those in Tuas.
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While consultants concur that the grants outlined at Sunday's National Day Rally are a move in the right direction to promote home ownership, they vary in their assessment of the potential impact on the wider market.

Amid other policy announcements unveiled during the annual National Day Rally, Prime Minister Lee Hsien Loong said that the government was extending the Special CPF Housing Grant (SHG) to include middle-income households looking to purchase four-room flats.
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Posted by on in Uncategorized
Robert Kuok's Allgreen Properties is releasing its RV Residences, a 999-year leasehold project on River Valley Road (in front of Valley Park) this week.

After early-bird discounts, the average price is expected to be just a shade below $2,000 per square foot for the initial batch of units, which are expected to number 50-80.
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Prime Minister Lee Hsien Loong had announced a new grant of up to $20,000 for buyers of three- and four-room flats.?Previously, this Special Central Provident Fund (CPF) Housing Grant was only for low- income buyers of small flats.
Observers said yesterday that the new grant must come with an income ceiling that limits it to lower-middle income buyers.

The median household income of Singaporeans is $7,570, while the median household income of applicants for four-room HDB flats in non-mature estates is $4,100.
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Posted by on in Uncategorized
The Avant at Aljunied condominium has been put up for sale - less than a year after its completion.

The standalone eight-storey building is on a 99-year lease and has 50 flats, all rented to a single, unnamed tenant.

It has a guide price of between $42 million and $44 million, which translates to $1,394 to $1,461 per sq ft (psf) given its gross floor area of about 30,108 sq ft.
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Posted by on in Uncategorized
Buyers flocked to the latest two executive condominiums (ECs) to hit the market after new mortgage lending rules introduced in June dampened buying interest in private properties.

Analysts attributed the demand to the way Housing Board rules are structured that make it easier for buyers of ECs to seek the maximum loan quantum under the new lending rules, compared with private properties. ECs are a hybrid of private-public housing sold with HDB restrictions, but turn private after 10 years.
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There was a carnival-like atmosphere at the site of a Danga Bay condominium project in Johor Baru yesterday, as its developer pulled out all the stops to draw Singaporean buyers.

The Hong Kong-listed Chinese developer Country Garden deployed 10 coaches to ferry Singaporeans from five pick-up points across the island to the showflat in Danga Bay, a five-minute drive from the Malaysian immigration checkpoint.
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Posted by on in Uncategorized
More Housing Board flat owners have been renting out their units in recent months - a phenomenon attributed to upgraders who want to keep their flats even as they move on to private property.

HDB figures last month showed a 6 per cent rise in subletting transactions between the first and second quarters of this year, from 7,410 cases to 7,891.
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With previously locked-up homes getting ready to hit the market, it is timely to relook the sellers stamp duty (SSD), to prevent a head-on collision with the record number of private homes that are expected to make it to the market in 2016, say market observers.
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Kwek Leng Beng, executive chairman of City Developments, says that unless the global and domestic economies rebound strongly and curbs on foreign buyers for private residential property sales are reviewed, the group expects some oversupply in the Singapore residential sector from next year onwards.
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Posted by on in Uncategorized
The final count was 58. That was the number of singles who applied for each two-room flat available to them in the Housing Board's latest Build-To-Order launch, which closed at midnight on Monday.

That means more than 8,500 singles have jumped on the up to about 155 flats in Sengkang and Yishun reserved for them.
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Posted by on in Residential
More mom-and-pop stores feel their businesses are doing well, according to an annual Housing Board (HDB) survey done last year.

Two in three of the 2,659 heartland shopkeepers polled said they were satisfied with their business, up from 54 per cent in 2011. One in four felt their business would improve in the next half-year, up from the previous year's 19 per cent.
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Some local bosses operating in factories recently sold by the Government to private companies are feeling squeezed by a sharp hike in rents as previous agreements to cap rental increases for such properties start to expire.

Several firms that occupy three blocks of flatted factories in Tai Seng Avenue told The Straits Times they are facing rental hikes of up to 70 per cent when they seek to renew their three-year leases this year.
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Posted by on in Uncategorized
A light industrial building in Kallang Industrial Park (Kallang iPark) with a remaining lease of 26 years has been put up for sale with an indicative price of about $15 million.

This works out to about $200.17 per square foot (psf) of floor area for the property at 3 Kallang Junction, which has a gross floor area (GFA) of 74,938 square feet.
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Posted by on in Uncategorized
Recent property measures have put a squeeze on the number of Housing Board dwellers buying private properties.
According to the latest early figures, buyers with HDB addresses picked up 3,700 new private homes in the first six months of the year. This seems to mark a slowdown from last year, which saw 9,985 such transactions across 12 months.

A similar trend has been seen in the private resale market. HDB upgraders bought just 1,550 homes in the first half of this year, compared to 5,261 for the whole of last year.
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Posted by on in Uncategorized
Executive condominium (EC) developers are again pulling out all the stops in the battle for buyers as competition intensifies in the second half of this year.

Developers of projects under this very popular public-private housing hybrid are no longer allowed to build gargantuan penthouse suites after unit-size restrictions were imposed in January.
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Posted by on in Uncategorized
Singapore's north-east region comprises newer estates such as Punggol and Sengkang, and the mature estate of Hougang.

Together, the three areas make up District 19.

Residents in the area are served by popular shopping centres such as nex mall, Heartland Mall and Hougang Mall, and newer infrastructure such as the scenic Punggol Waterway.
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The township of Medini in Johor's Iskandar Malaysia is fast becoming a property hot spot as thousands of Singaporeans rush to sign up for launches there.

Located in the Nusajaya administrative zone, the 9.2 sq km flagship development is a 10-minute drive from the Tuas Second Link.

Iskandar's master planners envisage Medini as a vibrant commercial and business district, complete with malls, offices, high-end homes and a hospital.
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Developer sales surged 23.8 per cent month on month in June to 1,806 private homes (excluding executive condominiums or ECs). The sales volume was propped up by the 737 units that were sold at the J Gateway condo in Jurong on a single day on June 28 as its developer and buyers raced to beat the new Monetary Authority of Singapore (MAS) regulations that took effect the following day.

Going by the Urban Redevelopment Authority's (URA) latest figures, developers have moved 10,061 units in the first six months, or a monthly average of 1,677 units.
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Rental yields for condominium apartments have fallen below the psychological 4 per cent support level, registering an overall gross median rental yield of 3.9 per cent for the first half of 2013.

This compares with overall gross median rental yields of 4.4 per cent and 4.2 per cent in 2011 and 2012 respectively, according to data from the Singapore Real Estate Exchange (SRX).
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