Mountbatten Condominium Up For Enbloc Sales

Mountbatten Condominium up for collective sale

A 30-year-old condominium in Mountbatten has been put up for collective sale.

The project, Katong Park Towers, sits on 99-year leasehold land with a site area of about 13,077 sq m. The 118-unit condo is still occupied.

But soon, the site could be sold for between $330 million and $340 million, or $1,145 to $1,178 per sq ft per plot ratio (psf ppr), including 10 per cent of balcony space.

Woodlands Executive Condominium Site Draws Top Bid of $150.2m

RESIDENTIAL MARKET

Woodlands Executive Condominium site draws top bid of $150.2m

Demand for Executive Condominium (EC) sites in Woodlands remains strong, with a top bid of $150.18 million, or $302 per square foot per plot ratio (psf ppr), submitted for a 99-year leasehold site there.

That bid came from a joint venture between Fraser Centrepoint's unit Opal Star and Lum Chang's unit Binjai Holdings, which have a 70-30 per cent stake in the venture.

The site is on Woodlands Avenue 6 and Woodlands Drive 16, next to another EC development, La Casa.

The tender, which closed at noon yesterday, attracted five bidders - comparable to a site on Woodlands Avenue 5 sold in May which also pulled in five bidders and was sold at $318 psf ppr.

* Take a look at the New Launch Woodlands Executive Condominium Details *

Making Resale HDB More Affordable in Singapore

Pricey Housing Development Board (HDB) resale flats seem to be a hot topic among Singaporeans these days. Recent news that some HDB flats were sold for more than one million dollars is further fuelling unease for first time HDB buyers as well as upgraders, as their dream apartment appear to be moving further and further from their reach.

In our line of work, we often look at property trends and propose solutions. Our clientele typically consists of homebuyers looking for value-for-money properties. However, using our understanding of the Singapore property market, we thought that it would be interesting to share our views on how we think public housing (HDB flats) can be made more affordable.

Most Developers Unlikely To Give Discounts

Most developers unlikely to give discounts: Experts

AT LEAST one property developer here is offering an effective discount on homes in the wake of the latest cooling measures. But property experts do not expect all developers to follow suit. Far East Organization's immediate response was to give a 2 per cent furniture voucher for units at its newest launch, eCO, to mitigate the effects of the new home loan rules.

Q3 HDB Prices Hit Record Again!

RESIDENTIAL MARKET 

Q3 HDB resale prices up again to hit record

Price gains in the public housing resale market are picking up momentum again. A 2 per cent quarter-on-quarter hike in Housing & Development Board's resale flat price index lifted it to a fresh record in Q3.

This is the biggest Q-on-Q increase since the 3.8 per cent gain in Q3 last year.

Outlook For Private Homes Next Year

RESIDENTIAL MARKET

Jury is out on outlook for private homes

The jury is out on just how private home prices will fare next year, after the Urban Redevelopment Authority's third-quarter flash estimate shows a return to firmness in private home prices, with much of the gain coming from the suburban condo market.

New Roads to Cope With New HDB Flats Built

RESIDENTIAL MARKET 

Towns to get new roads to cope with BTO boom

The Housing Development Board HDB has promised that by the time a bumper crop of Build-to-Order (BTO) projects are completed in the next two years, roads around them will be able to cope with the boom in the number of residents.

Anticipating possible congestion, it said it has started constructing new roads within towns, and widening existing ones.

Singapore's Growing Hot Spot For Investors

RESIDENTIAL MARKET 

Geylang a growing hot spot for investors

Mention Geylang and an unappetising image of shabby shophouses, street girls and sleazy budget hotels springs to mind.

But the much-maligned area is a growing hot spot for savvy property investors chasing high capital gains and rental yields.

There are at least 40 projects, comprising 2,190 units, that will be launched or completed in the next five years or so.

Who Says There's No Cheap Private Property?

RESIDENTIAL MARKET

Private apartments under $1m

News that a HDB flat sold for $1 million sent a chill through many home seekers but cheaper homes can still be bought without paying a king's ransom - just don't expect too much for your money.

Buyers willing to compromise on facilities, location, appearance and other features can land a private apartment for under the $619 per sq ft (psf) price paid for that 1,615 sq ft HDB home in Queenstown this month.

Cool Down On Cooling Measures

RESIDENTIAL MARKET

Redas: Cool down on cooling measures

The property sector does not need another round of cooling measures, at least not before a thorough review of the earlier measures put in place has been conducted.

This was the main message put forth by Wong Heang Fine, president of the Real Estate Developers' Association of Singapore (Redas), at the organisation's Mid-Autumn Festival yesterday.