- Published on
Park House in Orchard fetched a record collective sale price of $2,910 per sq ft per plot ratio - Straits Times photo
A freehold development in District 10 development - Park House at 21 Orchard Boulevard successfully sold for S$375.5 million on 13 June 2018 translating to a record collective sale price of S$2,910 per sq ft per plot ratio (psf ppr) on the maximum allowable gross floor area of 129,035 sq ft, excluding the 10 per cent bonus for balconies.
Park House is a rare freehold 60-unit development, comprising 56 apartments and four shop units. Each apartment unit owner stands to receive a gross payout of about $6.1 million and each shop unit owner, $8.1 million.
Park House enjoys a prominent yet exclusive location on Orchard Boulevard with good accessibility to the Orchard Road shopping belt and a short walking distance to Orchard Boulevard MRT when it is completed in 2021.
Park House is a rare freehold 60-unit development, comprising 56 apartments and four shop units. Each apartment unit owner stands to receive a gross payout of about $6.1 million and each shop unit owner, $8.1 million.
Park House enjoys a prominent yet exclusive location on Orchard Boulevard with good accessibility to the Orchard Road shopping belt and a short walking distance to Orchard Boulevard MRT when it is completed in 2021.
The public tender for Park House was awarded on June 1 to Shun Tak Cuscaden Residential, a wholly-owned subsidiary of Hong Kong-listed Shun Tak Holdings. Zoned as residential under the 2014 Master Plan, the 46,984 sq ft site has a plot ratio of 2.8. Shun Tak Holdings intends to redevelop the site into a luxury residential development with expected completion by 2023.
“The response from local and foreign developers was overwhelming; we conducted more than 20 site inspections with developers from Hong Kong, Malaysia, Singapore, China and Indonesia,” said CBRE managing director of capital markets Jeremy Lake, the agency that sealed this enbloc deal.
This new benchmark price beats the previous peak of S$2,526 psf ppr, which Hong Kong's Swire Properties paid for the Hampton Court collective sale site at Draycott Park in 2013.
“The response from local and foreign developers was overwhelming; we conducted more than 20 site inspections with developers from Hong Kong, Malaysia, Singapore, China and Indonesia,” said CBRE managing director of capital markets Jeremy Lake, the agency that sealed this enbloc deal.
This new benchmark price beats the previous peak of S$2,526 psf ppr, which Hong Kong's Swire Properties paid for the Hampton Court collective sale site at Draycott Park in 2013.
Lakeside Apartments at Yuan Ching Road goes en bloc with a reserve price S$240m - Straits Times Photo
Meanwhile, Lakeside Apartments in the Jurong Lake District has been put up for en bloc sale on the market with a reserve price of $240 million - the latest to wade into the wave of collective sales here. More than 80 per cent of owners at the 134,176 sq ft site in the Jurong Lake District area have agreed to sell and the tender was launched on Tuesday (12 June 2018). This means each of the owners at the 120-unit development stands to pocket $2 million.
The site in Yuan Ching Road is zoned residential with a plot ratio of 2.1. It comprises two tower blocks of 15 storeys, and has 58 years left on its 99-year lease. An enhancement premium of $55.56 million will have to be paid for both the lease top-up premium and land use intensification of the site. The 120-unit development comprises two 15-storey tower blocks on a large 134,176 sq ft site. The tender for Lakeside Apartments closes on 24 July 2018.
- Published on
United States President Donald Trump and North Korean leader Kim Jong Un met for the first time in a historic summit in Singapore on Tuesday (June 12) -Straits Times photo
Market watchers are seeing an increased demand for the Singapore residential property market from foreign investors and house hunters after the successful Trump-Kim summit held in Singapore on 12 June 2018 with many observers and academics calling the Trump-Kim summit a turning point and a historical moment for the world.
This greatly boosted the prospects of finally seeing peace in the Korean Peninsula and marks the eventual removal of the decades of constant threat of a devastating nuclear war in Asia.
This greatly boosted the prospects of finally seeing peace in the Korean Peninsula and marks the eventual removal of the decades of constant threat of a devastating nuclear war in Asia.
This will mean market recovery and stability for many Asian countries with foreign investors from Europe and Americas looking southwards towards Asia and South-East Asia, Property markets are set to benefit from foreign investor's attention as Asia has seen a robust performance as compared to Europe, North America and South America as well as the Middle East.
High-net-worth foreigners and foreign investment firms are beginning to scan Asian cities for properties to invest in and one of the prime destination is Singapore for its safe investment environment and stable political climate.
The Singapore housing sector has recently rebounded after home prices fell 12 per cent from the last peak in 2013. At the same time, household income has improved, resulting in housing affordability - measured by private home price-to-income ratio - falling to a 20-year low. The high-end residential segment, especially, would find itself the centre of foreigners' interest again, he said. This segment is the most dependent on foreign demand and has suffered the brunt of existing curbs. Prices have fallen so much that their median per square foot prices are now at a 62 per cent premium over mass market condominiums - near a 10-year low.
High-net-worth foreigners and foreign investment firms are beginning to scan Asian cities for properties to invest in and one of the prime destination is Singapore for its safe investment environment and stable political climate.
The Singapore housing sector has recently rebounded after home prices fell 12 per cent from the last peak in 2013. At the same time, household income has improved, resulting in housing affordability - measured by private home price-to-income ratio - falling to a 20-year low. The high-end residential segment, especially, would find itself the centre of foreigners' interest again, he said. This segment is the most dependent on foreign demand and has suffered the brunt of existing curbs. Prices have fallen so much that their median per square foot prices are now at a 62 per cent premium over mass market condominiums - near a 10-year low.
Singapore's property market is attractive to foreign investors due to stable government, banking & property laws
This boost of confidence in Asia coupled with increasing political uncertainty in Europe and questions surrounding US policy toward trade relations with China - one of America's largest trading partner whom bilateral trade is critical and a trade war would be more detrimental to America than China according to economists.
Property and investment analysts are expecting Asia and Southeast Asia to attract more foreign investors therefore improving real estate returns to Asian and Singapore property markets.
Property and investment analysts are expecting Asia and Southeast Asia to attract more foreign investors therefore improving real estate returns to Asian and Singapore property markets.
- Published on
During the 1970s and 1980s, the government catered to the public demand for larger sized and fancy designed public housing as a housing option for middle-income citizen families by introducing HUDC flats on sprawling land parcels in HUDC estates. HUDC was a good scheme for people who could not afford private property but wanted something better (than public housing).
However, HDB decided to phase out the building of HUDC flats in 1987 as their demand declined and as land scarcity issues surfaced on our tiny Singapore island. There are therefore a total of 18 HUDC estates comprising 7,731 residential and 23 shop units by the time the government decided to stop building new HUDC estates in Singapore.
However, HDB decided to phase out the building of HUDC flats in 1987 as their demand declined and as land scarcity issues surfaced on our tiny Singapore island. There are therefore a total of 18 HUDC estates comprising 7,731 residential and 23 shop units by the time the government decided to stop building new HUDC estates in Singapore.
Timeline history of the HUDC journey by HDB in Singapore
From 1995, the government gradually privatised the HUDC estates to meet the rising aspirations of Singaporeans to own private properties and by March 2017, all 18 HUDC estates were privatised into private residential developments where the HUDC home owners have to form their own residents council and contribute to their own sinking and management funds to take care of their private estates.
Since the gradual privatisation of the HUDC estates from 1995 into private housing estates, thirteen out of eighteen of these private housing estates had been collectively sold to private developers through various enbloc exercises creating thousands of new millionaire households.
Since the gradual privatisation of the HUDC estates from 1995 into private housing estates, thirteen out of eighteen of these private housing estates had been collectively sold to private developers through various enbloc exercises creating thousands of new millionaire households.
below are HUDc estates that successfully enbloc
Strategically located in the prime area of District 10, d'Leedon was once Farrer Court HUDC estate
AMBERVILLE HUDC estate was snapped up in 2006 at the price of $183 million and became the first former HUDC estate to be sold collectively. Its price translates into $396 per square foot per plot ratio (psf ppr), after accounting for a development charge of about $35.2 million and a differential premium of $23.8 million to top up the lease from 71 years to 99 years. AMBERVILLE has been developed into a beautiful condo project called Silversea.
FARRER COURT HUDC estate was sold above the owners’ reserve price of $1.2 billion but below their asking price of $1.5 billion to CapitaLand at an awesome $1.34 billion for the sprawling Farrer Court estate in 2007. Owners at the 618-unit complex will get about $2.15 million each, depending on the size of their flats, which range from 1,453 to 1,615 square feet. FARRER COURT HUDC estate has now been transformed into a grand condo project called d'Leedon
FARRER COURT HUDC estate was sold above the owners’ reserve price of $1.2 billion but below their asking price of $1.5 billion to CapitaLand at an awesome $1.34 billion for the sprawling Farrer Court estate in 2007. Owners at the 618-unit complex will get about $2.15 million each, depending on the size of their flats, which range from 1,453 to 1,615 square feet. FARRER COURT HUDC estate has now been transformed into a grand condo project called d'Leedon
The Interlace, one of the largest, most ambitious condo project in Singapore was once Gillman Heights HUDC estate
GILLMAN HEIGHTS HUDC estate was acquired by CapitaLand for S$548 million in 2007. There are 607 apartments in GILLMAN HEIGHTS HUDC estate – about 1,700 and 1,950 square feet each, and one shop unit. Based on a S$363 per square foot per plot ratio, the residents will be compensated between S$880,000 to S$950,000 per unit. The amount is inclusive of a differential premium of S$90 million to top up the lease to 99 years & maximise the use of the plot ratio from the present 1.65 to 2.1. GILLMAN HEIGHTS HUDC estate is now the very beautifully unique condo development called The Interlace.
MINTON RISE HUDC estate was sold to Kheng Leong, a privately owned property group controlled by the family of banker Wee Cho Yaw for $209 million in 2007. Minton Rise has 342 apartments in total and owners of the privatised HUDC estate will receive about $611,000 on average. MINTON RISE HUDC estate is now a condo with amazingly beautiful facilities called The Minton.
WATERFRONT VIEW HUDC estate in 2006 was acquired by Far East Organization and Frasers Centrepoint's maiden joint venture, which bought the privatised former HUDC estate facing Bedok Reservoir, for $385 million. This price works out to a land price of $241 psf per plot ratio inclusive of an estimated $102.2 million payment to the state for lifting title restriction to enhance the site’s plot ratio, and upgrading the site’s lease to 99 years for this sprawling 809,037 sq ft site. Due to its huge land size, WATERFRONT VIEW HUDC estate is now divided into 4 condo developments: Waterfront Waves, Waterfront Gold, Waterfront Key and Waterfront Isle.
MINTON RISE HUDC estate was sold to Kheng Leong, a privately owned property group controlled by the family of banker Wee Cho Yaw for $209 million in 2007. Minton Rise has 342 apartments in total and owners of the privatised HUDC estate will receive about $611,000 on average. MINTON RISE HUDC estate is now a condo with amazingly beautiful facilities called The Minton.
WATERFRONT VIEW HUDC estate in 2006 was acquired by Far East Organization and Frasers Centrepoint's maiden joint venture, which bought the privatised former HUDC estate facing Bedok Reservoir, for $385 million. This price works out to a land price of $241 psf per plot ratio inclusive of an estimated $102.2 million payment to the state for lifting title restriction to enhance the site’s plot ratio, and upgrading the site’s lease to 99 years for this sprawling 809,037 sq ft site. Due to its huge land size, WATERFRONT VIEW HUDC estate is now divided into 4 condo developments: Waterfront Waves, Waterfront Gold, Waterfront Key and Waterfront Isle.
Shunfu Ville HUDC site will see the upcoming launch of a beautiful condo project called: Jade Scape
SHUNFU VILLE HUDC estate was sold for S$638 million in May 2016, marking the third largest en bloc by quantum in Singapore. Each owner of the 358-unit condo, which lies less than 200 metres from Marymount MRT Station, stands to get around S$1.78 million. The 358-unit project was first put on sale in September with an asking price of at least $688 million or $791 per sq ft (psf) per plot ratio. The tender closed last October with no formal bids but two letters of interest. It was relaunched for tender at the same price in late January. Shunfu Ville sits on a huge 408,927 sq ft land site with a plot ratio of 2.8.
A beautiful new condo development will be launched soon on this site called: Jade Scape. Register for the soft launch invite, updates and floorplans for Jade Scape here.
A beautiful new condo development will be launched soon on this site called: Jade Scape. Register for the soft launch invite, updates and floorplans for Jade Scape here.
The Tre Ver is a beautiful condo brought to you by UOL & UIC on the former Raintree Garden HUDC site
RAINTREE GARDENS HUDC estate in Potong Pasir was sold in Oct 2016 for $334.2 million, after more than five developers bid for the site. Many unit owners of the 175-unit privatised HUDC estate will walk away with about $1.9 million per unit after being sold to UVD (Projects), a joint venture of UOL Group and United Industrial Corporation. The price works out to about $797 per sq ft per plot ratio (psf ppr), including the premium paid to top up the lease to a fresh 99 years and for redevelopment of the site to a gross plot ratio of 2.8.
The location is near the very popular Bidadari estate and UVD is looking to develop the 201,405 sq ft site to house about 750 units. This HUDC site will be developed into an exciting project called: The Tre Ver, register for the soft launch invite, updates and floorplans here.
The location is near the very popular Bidadari estate and UVD is looking to develop the 201,405 sq ft site to house about 750 units. This HUDC site will be developed into an exciting project called: The Tre Ver, register for the soft launch invite, updates and floorplans here.
Riverfront Residences (Former Rio Casa) is an upcoming condo development by Oxley-Lian Beng Venture Pte Ltd
RIO CASA HUDC estate Rio Casa, a privatised HUDC estate, has been sold for S$575 million to a joint venture company Oxley-Lian Beng Venture. The JV partners are KSH Development, Oxley Holdings, Lian Beng Group and Apricot Capital. Rio Casa in Hougang Avenue 7 comprises seven blocks of 286 apartment and maisonette units. It has a site area of 36,811.1 square metres. Each owner stands to receive a gross sale price of about S$2 million upon the successful completion of the sale.
A new upcoming condo development will be launched soon called: Riverfront Residences. Register for the soft launch invite, updates and floorplans here.
A new upcoming condo development will be launched soon called: Riverfront Residences. Register for the soft launch invite, updates and floorplans here.
Affinity At Serangoon (Former HUDC Serangoon Ville) is a new condo along Serangoon North Avenue 1
Privatised HUDC estate Serangoon Ville in Serangoon North Avenue 1 has been sold to an Oxley Holdings-led consortium for $499 million in July 2017 well above the $400 million to $430 million the owners had been expecting. The buyer, joint venture firm Oxley Serangoon, comprises partners including Oxley Holdings, Lian Beng Group, Apricot Capital and entities of KSH Holdings and Heeton Holdings with the purchase price working out to a land rate of $835 per sq ft per plot ratio. Serangoon Ville comprises 244 apartments and maisonettes across seven blocks, with sizes ranging from 1,625 sq ft to 1,733 sq ft. Each owner will receive about $2 million from the sale.
The new condo development that will be built on this plot of land is called: Affinity at Serangoon. Register for the soft launch invite, updates and floorplans here.
The new condo development that will be built on this plot of land is called: Affinity at Serangoon. Register for the soft launch invite, updates and floorplans here.
The 702,164 sq ft site at Tampines Court HUDC could be turned into a project of about 2,000 units
TAMPINES COURT HUDC estate was successfully sold to property developer Sim Lian for a cool $970 million in Aug 2017 as the collective sale market here continues to sizzle. It is the largest such deal for a former Housing and Urban Development Company property in a decade since Farrer Court changed hands for $1.34 billion in 2007. The enbloc price for the 560-unit development, in Tampines Street 11, works out to about $676 per sq ft (psf) per plot ratio with each owner standing to gain about $1.71 million to $1.75 million. The 702,164 sq ft site could be turned into a project of about 2,000 to 2,100 new units - or as many as 2,600 units, if the site is stretched to its limits. You may follow this project's future developments here.
Hongkong Land's fully-owned unit MCL Land bought the Eunosville site at a price of S$765.78 million
Eunosville, a former HUDC estate, has 330 units - comprising 255 maisonettes and 75 apartments. It was sold in June 2017 to Hongkong Land's fully-owned unit MCL Land through a collective sale, at a price of S$765.78 million, working out to a land price of S$909 per square foot per plot ratio (psf ppr) inclusive of an estimated S$194 million payable to the state to enhance the intensity of the site to a gross plot ratio (ratio of maximum gross floor area to land area) of 2.8 and to top up the site's lease to 99 years. Owners stand to receive a gross sale price of about S$2.25 million to S$2.41 million per unit upon the successful completion of the sale. Eunosville will be developed into a beautiful condo project. Find out how this estate will be developed in future by registering your interest here.
Florence Regency finally closed a collective sale deal under private treaty after Chinese developer Logan Property (Singapore) agreed to match the independent valuation of $629 million for the property in Hougang Avenue 2 in Oct 2017. Each owner of the 336-unit former Housing and Urban Development Company (HUDC) estate will receive gross proceeds of between $1.84 million and $1.89 million.
The 389,236 sq ft site is zoned residential with a gross plot ratio of 2.8 and could yield around 1,000 units. The land price works out to $842 per sq ft (psf) per plot ratio (ppr) after factoring in the estimated differential premiums of $288.6 million to top up the lease to a fresh 99 years and develop the site to the gross plot ratio of 2.8.
Florence Regency is one of the last few privatised HUDC estates in the north-east region. The future development will enjoy unblocked views, located next to landed housing estates and across the Hougang Stadium and the sports and swimming complex. Find out how this estate will be developed in future by registering your interest here.
The 389,236 sq ft site is zoned residential with a gross plot ratio of 2.8 and could yield around 1,000 units. The land price works out to $842 per sq ft (psf) per plot ratio (ppr) after factoring in the estimated differential premiums of $288.6 million to top up the lease to a fresh 99 years and develop the site to the gross plot ratio of 2.8.
Florence Regency is one of the last few privatised HUDC estates in the north-east region. The future development will enjoy unblocked views, located next to landed housing estates and across the Hougang Stadium and the sports and swimming complex. Find out how this estate will be developed in future by registering your interest here.
CHANCERY COURT, a privatised HUDC estate with 136 residential and eight strata commercial units across the road from Anglo-Chinese School (Barker Road), has fetched $401.78 million - a highly sought-after development among parents who want to register their children into Anglo Chinese School, given that the ACS Barker Road campus is located just across the road. Upon successful conclusion of the collective sale following Strata Title Board approval, owners of the residential units can expect proceeds of $1.8 million to $3.5 million, while the owners of the strata commercial units will walk away with $934,000 to $4.7 million, depending their unit size. The Chancery Court HUDC estate will be developed into a new condo development. Find out how this estate will be developed in future by registering your interest here.
With the sale of Chancery Court, only five of 12 former HUDC estates remain for now - Ivory Heights, Pine Grove, Laguna Park, Braddell View and Lakeview. All five are in various stages of the collective sale process.
With the sale of Chancery Court, only five of 12 former HUDC estates remain for now - Ivory Heights, Pine Grove, Laguna Park, Braddell View and Lakeview. All five are in various stages of the collective sale process.
- Published on
THE Urban Redevelopment Authority (URA) and the Housing & Development Board (HDB) have released three sites with residential components for sale at Dairy Farm Road, Sims Drive and Tampines Avenue 10 under the first half of the 2018 Government Land Sales (GLS) Programme.
This Dairy Farm GLS land plot could fetch a high price for Government Land Sales land parcels in the area
For sale is one Confirmed List site at Dairy Farm Road launched for residential development with commercial uses at the first storey. This land parcel has a site area of 19,647.5 square metres (sq m), with a 99-year lease period, and a permissible gross floor area (GFA) of 41,260 sq m. The project completion period is five years, and tender for this development will close at 12 noon on 4 Sept 2018.
The Dairy Farm Road plot's most attractive attributes are its proximity to the Bukit Timah Nature Reserve and partial unblocked views over the landed residential plots. The site's proximity to Hillview MRT station and major expressways as well as strong rental demand from expatriates in the locality are reasons why the site may prove to be popular with developers.
The last time a residential GLS site was sold in the area was in 2012, to a consortium led by TA Corporation for S$616 per square foot per plot ratio (psf ppr) and developed into The Skywoods. Nearby, there is an older condo development - The Dairy Farm which is now in the process of gathering the requisite consensus for its collective sale with an asking price of over S$1.68 billion, or a land rate of at least S$1,100 psf ppr inclusive of the development charge.
The current record GLS land rate (S$805 psf ppr) in the Bukit Panjang/Hillview/Dairy Farm/Bukit Batok locality is now held by the land parcel where Hillion Residences and Hillion Mall stand. Units in Hillion Residences have commanded average prices of S$1,496 psf this year.
The Dairy Farm Road plot's most attractive attributes are its proximity to the Bukit Timah Nature Reserve and partial unblocked views over the landed residential plots. The site's proximity to Hillview MRT station and major expressways as well as strong rental demand from expatriates in the locality are reasons why the site may prove to be popular with developers.
The last time a residential GLS site was sold in the area was in 2012, to a consortium led by TA Corporation for S$616 per square foot per plot ratio (psf ppr) and developed into The Skywoods. Nearby, there is an older condo development - The Dairy Farm which is now in the process of gathering the requisite consensus for its collective sale with an asking price of over S$1.68 billion, or a land rate of at least S$1,100 psf ppr inclusive of the development charge.
The current record GLS land rate (S$805 psf ppr) in the Bukit Panjang/Hillview/Dairy Farm/Bukit Batok locality is now held by the land parcel where Hillion Residences and Hillion Mall stand. Units in Hillion Residences have commanded average prices of S$1,496 psf this year.
This GLS land parcel at Sims Drive has a site area of 16,225.3 sq m and is near amenities and eateries
Separately, URA also announced another residential site at Sims Drive made available for application under the Reserve List. This means developers can trigger the tender of these sites if they indicate interest with bid commitments acceptable to the URA.
The development at Sims Drive has a site area of 16,225.3 sq m, with a lease period of 99 years, and a permissible GFA of 48,676 sq m.
The development at Sims Drive has a site area of 16,225.3 sq m, with a lease period of 99 years, and a permissible GFA of 48,676 sq m.
Nearby is a recently TOP beautiful condo - Sims Urban Oasis, developed by reputable listed developer - Guocoland
This GLS land parcel at Sims Drive is sited right beside the beautiful condo development that has recently achieved TOP status called Sims Urban Oasis, developed by the very reputable Singapore listed developer - Guocoland. There are still a small handful of three bedroom units, 'rare' four bedroom dual-key and 5 bedroom units available for sale at Sims Urban Oasis, find out more about this project by clicking the project image above.
Tampines Ave 10 GLS site (EC)
In addition to the above two land parcels, URA also announced a HDB executive condominium site at Tampines Avenue 10 that is available for application under the Reserve List as well. This plot of land for development of an executive condominium at Tampines has a site area of 2.56 hectares (25, 600 sq m), and a proposed gross plot ratio of 2.8.
Beside this plot of land is a recently launched new condo development called The Tapestry, developed by another very reputable locally listed developer - City Developments Limited or CDL. This project is a private condo project and features good sized layouts in their interior floorplan designs that appeal to both home owners and investors alike. You may click on the project image below to visit The Tapestry website to find out more.
Beside this plot of land is a recently launched new condo development called The Tapestry, developed by another very reputable locally listed developer - City Developments Limited or CDL. This project is a private condo project and features good sized layouts in their interior floorplan designs that appeal to both home owners and investors alike. You may click on the project image below to visit The Tapestry website to find out more.
The Tapestry is a quality private condo project developed by reputable CDL along Tampines Ave 10
Collectively, the three GLS land parcels released by URA as shown above can yield an estimated total of 1,880 residential units.
- Published on
If you are looking to buy a brand new condo project that has recently attained TOP status with available units left direct from developer, we have collated the below projects for your perusal.
Located in prime district 9, Sophia Hills is just a short walk to Dhoby Ghaut MRT Interchange.
Located in prime District 9, Sophia Hill is an exciting 99 year leasehold development with 493 units on top of Mount Sophia along Sophia Adis Road. This rare development will have 3 conserved building to be restored and used as residential clubhouse, kindergarten cum childcare centre and restaurant. Sophia Hills is expected to TOP this year in 2018.
DUO Residences is an integrated development with office, hotel, retail, entertainment & residential uses
The DUO Residences comprise an integrated developments with office, hotel, retail, entertainment and residential uses, all set within an attractive garden-like environment right in the heart of the city in Bugis. Its developer, M+S Pte Ltd is jointly owned by Malaysia's Khazanah Nasional and Temasek Holdings. Enclosed in a park-like environment, DUO features 660 units of prime residences over a 49-storey tower and a 39-storey commercial tower comprising 21 storeys of Grade A offices, a five-star hotel and close to 80,000 square feet of retail space.
Marina One Residences is an integrated condo offering serenity in the bustling city where you’ll truly feel at home
Marina One Residences is an integrated development nestled in greenery whilst connected to 21st century infrastructure. Replete with stunning views, the award-winning Marina One Residences is the design of Christoph Ingenhoven, a leader in sustainable architecture. The lush central garden makes Marina One a luxurious oasis, offering serenity right in the bustling city. Marina One Residences is shaped around you, where you’ll truly feel at home.
V on Shenton - an integrated development along 5 Shenton Way developed by reputable UIC Limited
UIC Limited's flagship development, previously the UIC Building located at 5 Shenton Way into a spanking new V on Shenton - an integrated development comprising a 54-storey residential tower and a 23-storey office building. Strategically located at the confluence of Shenton Way and Marina Bay Financial District, V on Shenton, comprises of 510 units ranging from studio, 1 to 3-bedroom apartments and penthouses.
THE TRILINQ is developed by IOI Corporation - located at Jalan Lempeng near Clementi MRT
The Trilinq condo consist of two 36-storey towers with 755 units and a 33-storey tower of clubhouse facilities. There are also two basement carparks for residents and their guests. Designed to provide all the conveniences and luxuries of modern living, The Trilinq has numerous onsite amenities and facilities to give residents their own slice of paradise.
Coco Palms is just a 5-minute walk to Pasir Ris MRT combine with living in a luxury resort
Coco Palms is the final development in Pasir Ris Grove and closest to Pasir Ris MRT. A stunning residential development by City Developments Limited, Coco Palms takes its architectural inspiration from some of the world’s best and most exclusive resorts such as the Maldives, the Caribbean and Fiji. It combines home comforts seamlessly with the laid-back charms of a luxury beach resort. Designed with sustainability in mind, Coco Palms has achieved the BCA Green Mark Gold PLUS Award.
Sims Urban Oasis along Sims Drive is about 3 mins walk from Aljunied MRT station and within the Paya Lebar Sub-Regional Centre, an up and coming commercial hub
Sims Urban Oasis is a new launch development located at Sims Drive. Developed by reputable developer Guocoland Limited, Sims Urban Oasis occupies a massive land size of 23,900 square metres, with 1,024 luxurious residential units, commerical shops, and a childcare center.
Sims Urban Oasis Development boasts of full Condominium Facilies, with two full size 50m Swimming Pools, 25m SkyPool, Tennis Court, Pavilions and Lush Landscaping. The development also incorporates 6 commercial shops, bringing convenience to the residents. A childcare center is also within the premises, providing much-needed childcare services to the vicinity.
Sims Urban Oasis Singapore is conveniently located near Aljunied MRT (3-5 min walk). Sims Urban Oasis residents also have access to nearby amenities and 24-hour eateries in Geylang, Katong and Marine Parade areas.
Sims Urban Oasis Development boasts of full Condominium Facilies, with two full size 50m Swimming Pools, 25m SkyPool, Tennis Court, Pavilions and Lush Landscaping. The development also incorporates 6 commercial shops, bringing convenience to the residents. A childcare center is also within the premises, providing much-needed childcare services to the vicinity.
Sims Urban Oasis Singapore is conveniently located near Aljunied MRT (3-5 min walk). Sims Urban Oasis residents also have access to nearby amenities and 24-hour eateries in Geylang, Katong and Marine Parade areas.
- Published on
This evening - Monday (May 28 2018) , Malaysia's Prime Minister Mahathir Mohamad confirmed in a press conference that Malaysia will drop the Kuala Lumpur-Singapore high-speed rail project (HSR), saying the project will not benefit his country.
"It is a final decision, but it will take time because we have an agreement with Singapore," Dr Mahathir said "It's not beneficial. It's going to cost us a huge sum of money. We'll make no money at all from this arrangement," he added. "(The HSR) is only a short track. It is only going to save people one hour by taking the HSR."
"It is a final decision, but it will take time because we have an agreement with Singapore," Dr Mahathir said "It's not beneficial. It's going to cost us a huge sum of money. We'll make no money at all from this arrangement," he added. "(The HSR) is only a short track. It is only going to save people one hour by taking the HSR."
The KL-S'pore high-speed rail was expected to improve business linkages between Singapore and Malaysia
The much-heralded KL-Singapore high-speed rail (HSR) project, which was expected to be operational in 2026, planned to include seven stations in Malaysia – Bandar Malaysia, Bangi-Putrajaya, Seremban, Melaka, Muar, Batu Pahat and Iskandar Puteri – with the last stop being in Jurong East, Singapore.
HSR Rail Route
Proposed HSR Station in Jurong
Some analysts believe the HSR Terminus would have been the Cherry on The Cake for Jurong District and that the loss of the terminus may cause the Jurong Lake District to lose its shine but some may also argue that Singapore and Malaysia are already well connected by land and air and is not reliant on the HSR rail to boost our nation's economy.
So the current question in everyone's mind now is: "will this decision of scrapping the high-speed rail adversely affect Jurong's condo property values?"
So the current question in everyone's mind now is: "will this decision of scrapping the high-speed rail adversely affect Jurong's condo property values?"
Analysts has always argued that the future of Jurong is not just about the High Spped Rail. There are many things going on for Jurong potential investors and home owners. Let's analyse some main developments in Jurong that strongly appeals to investors and buyers who are planning to embark on their Journey to the West:
Jurong Innovation District (JID)
A new Jurong Innovation District (JID), envisioned as the industrial park of the future, will be built as part of the Government's push to encourage more innovation.The first phase of the district, which will be in Jurong West, is expected to be completed by around 2022.
THE Jurong Innovation District is being developed to become Singapore's second central business district
Jurong Lake District (JLD)
The Jurong Lake District (JLD) will bring together researchers, students, innovators and businesses to develop products and services of the future. It will also create an environment to house different activities within a single next-generation industrial district - becoming the future of innovation for enterprise, learning and living. The government is determined to transform Jurong into the industrial park of the future redefining how we live, work, play, learn and create as a nation.
The Jurong Lake District project - set to be completed after 2040 is expected to create more than 100,000 new jobs in the 360-hectare Jurong Lake District - announced in 2008 as part of URA's efforts to provide more job and recreational options in the heartlands.
The district has been divided into two precincts - Jurong Gateway, the commercial hub where redevelopment has already begun, and Lakeside.
The district has been divided into two precincts - Jurong Gateway, the commercial hub where redevelopment has already begun, and Lakeside.
The 360-hectare Jurong Lake District - set to be completed after 2040 is expected to create new jobs
Future Tuas Mega Port
The new jobs will be created in sectors such as the maritime industry, with the future Tuas mega port; infrastructure development, due to the neighbouring Jurong Industrial Estate; and in the technology sector with the Nanyang Technological University and the planned Jurong Innovation District nearby.
The Tuas mega port, slated to open in phases from 2021, may be more than a hive of container traffic. Cafes, retail stores and even a jogging track overlooking the hustle and bustle of trade are being considered in a bid to optimise land use and add vibrancy.
The Tuas mega port, slated to open in phases from 2021, may be more than a hive of container traffic. Cafes, retail stores and even a jogging track overlooking the hustle and bustle of trade are being considered in a bid to optimise land use and add vibrancy.
The Tuas mega port, slated to open in phases from 2021, may be more than a hive of container traffic.
Jurong Regional Line
The 24-kilometre long Jurong Region Line (JRL) will add 24 stations to the existing rail network, including three interchange stations at Boon Lay, Choa Chu Kang and Jurong East MRT stations, which will link to the North-South Line and East-West Line. From 2026 onwards, commuters can start enjoying the JRL in three stages.
Jurong Region Line (JRL) will add 24 stations to the existing rail network
Jurong is close to many manufacturing industries and businesses and two of Singapore's main universities Nanyang Technological University and National University Singapore. The JRL will connect the Nanyang Technological University (NTU) and the gateway to Jurong Island to the existing Choa Chu Kang and Boon Lay stations in a Y-shape operating pattern. Separately, the line will serve the Pandan Reservoir and Tengah area, passing through Jurong East station.
With reference from Channel News Asia's 28 May 2018 online article: "Mahathir confirms Malaysia will scrap KL-Singapore HSR project"
- Published on
Phoenix Heights has a $36 million asking price translating to about $668 psf per plot ratio (ppr)
48-year old, 32-unit Phoenix Heights condominium in Bukit Panjang is expected to be launched for collective sale on June 7 and the tender will close on July 10. The 99-year leasehold condo sitting on a 42,764 sq ft piece of land.
Located at 71-85 (Odd Nos.) Phoenix Avenue in District 23, Phoenix Heights has a $36 million asking price translating to about $668 psf per plot ratio (ppr), including the 10% bonus balcony space and premiums payable to top-up up the lease. Under the 2014 Master Plan, the site is zoned for residential use and has a plot ratio of 1.4.
Located at 71-85 (Odd Nos.) Phoenix Avenue in District 23, Phoenix Heights has a $36 million asking price translating to about $668 psf per plot ratio (ppr), including the 10% bonus balcony space and premiums payable to top-up up the lease. Under the 2014 Master Plan, the site is zoned for residential use and has a plot ratio of 1.4.
Landmark Tower sold en bloc for $286 mil
The 139-unit Landmark Tower at Chin Swee Road has been sold to a joint-venture (JV) company for $286 million, according to a release by marketing agent JLL. One of the JV partners is said to be a public listed company.
The 60,821 sq ft site is zoned for residential use with an as-built plot ratio of 4.0. The winning bid of $286 million translates to a land rate of $1,406 psf per plot ratio (ppr) after taking into consideration the lease upgrade premium of $57 million, estimates Tan Hong Boon, JLL regional director.
The price of $1,406 psf ppr compares favourably to the $1,515 psf ppr achieved at Pearl Bank Apartments, which was sold to CapitaLand in February. Landmark Tower is also a 99-year leasehold development located next to Pearl’s Hill City Park, near Pearl Bank Apartments.
Given its vantage point, Landmark Tower offers residents 360-degree city views. Based on the sale price, the owners of Landmark Tower will receive gross proceeds between $1.6 million and $4.9 million from the collective sale, adds JLL’s Tan.The 33-year old development was put up for collective sale on April 10 with a reserve price of $285 million, althought owners had expected in excess of $300 million ($1,474 psf ppr) for it.
The 60,821 sq ft site is zoned for residential use with an as-built plot ratio of 4.0. The winning bid of $286 million translates to a land rate of $1,406 psf per plot ratio (ppr) after taking into consideration the lease upgrade premium of $57 million, estimates Tan Hong Boon, JLL regional director.
The price of $1,406 psf ppr compares favourably to the $1,515 psf ppr achieved at Pearl Bank Apartments, which was sold to CapitaLand in February. Landmark Tower is also a 99-year leasehold development located next to Pearl’s Hill City Park, near Pearl Bank Apartments.
Given its vantage point, Landmark Tower offers residents 360-degree city views. Based on the sale price, the owners of Landmark Tower will receive gross proceeds between $1.6 million and $4.9 million from the collective sale, adds JLL’s Tan.The 33-year old development was put up for collective sale on April 10 with a reserve price of $285 million, althought owners had expected in excess of $300 million ($1,474 psf ppr) for it.
Chinatown Plaza sells en bloc for $260m
Chinatown Plaza located along Craig Road has been sold for $260 million to a property unit affiliated to Singapore-based RGE (Royal Golden Eagle), the pulp and paper and palm oil giant manages a group of resource-based manufacturing companies with global operations and assets exceeding US$18 billion (S$24.5 billion). The price translates to a land rate of $1,915 per sq ft per plot ratio (psf ppr). Chinatown Plaza has a land area of 33,953 sq ft and is zoned for commercial and residential use. The site has the potential to be redeveloped up to its existing gross floor area of 135,742 sq ft.
Outline planning permission for serviced apartments with commercial use has been granted by the Urban Redevelopment Authority. Apartment owners are expected to receive gross sale proceeds of between $3.44 million and $4.79 million per unit, while shop owners can expect between $1.64 million and $10.62 million per unit. Such freehold mixed-use sites within the city are rarely available and given its city centre location in a popular and vibrant enclave within close proximity to MRT stations, the property is perfectly situated for use as serviced apartments. This development option will allow the purchaser to hold the invaluable freehold property for long-term investment.
Outline planning permission for serviced apartments with commercial use has been granted by the Urban Redevelopment Authority. Apartment owners are expected to receive gross sale proceeds of between $3.44 million and $4.79 million per unit, while shop owners can expect between $1.64 million and $10.62 million per unit. Such freehold mixed-use sites within the city are rarely available and given its city centre location in a popular and vibrant enclave within close proximity to MRT stations, the property is perfectly situated for use as serviced apartments. This development option will allow the purchaser to hold the invaluable freehold property for long-term investment.
Balestier Regency up for collective sale
Balestier Regency is a freehold, 72-unit apartment that has been launched for collective sale by tender. Balestier Regency sits on a 61,952 sq ft site and is expected to fetch at least $218 million, which translates into a land rate of $1,265 psf per plot ratio (ppr), including a $1.35 million development charge. The land price would be reduced to $1,221 psf ppr if the 10% bonus balcony area is included.
The site is zoned for residential use, has a plot ratio of 2.8 and an allowable building height of up to 36 storeys. The maximum allowable gross floor area will be 173,409 sq ft. The redevelopment could potentially yield about 230 units of 753 sq ft each, subject to approvals.The tender will close on June 21.
The site is zoned for residential use, has a plot ratio of 2.8 and an allowable building height of up to 36 storeys. The maximum allowable gross floor area will be 173,409 sq ft. The redevelopment could potentially yield about 230 units of 753 sq ft each, subject to approvals.The tender will close on June 21.
Leonie Gardens is launched for collective sale by tender with a reserve price of $800 million
Leonie Gardens is launched for collective sale by tender with a reserve price of $800 million. The reserve price translates to $2,104 per sq ft based on existing gross floor area, or $2,021 per sq ft per plot ratio (psf ppr) if a 10 per cent balcony space is included, subject to approval. The tender will close at 3pm on Thursday, June 21.
Leonie Gardens, located at 23, 25 and 27 Leonie Hill in District 9, has 71 years remaining on its 99-year leasehold, which expires on Sept 14, 2089. The condo consists of 138 units, with a total strata area of 324,972.90 sq ft and a gross floor area of 410,431.80 sq ft.
The site is zoned residential under the Urban Redevelopment Authority Master Plan 2014, with a plot ratio of 2.8. According to Huttons, it can be developed into 544 condominium units averaging at about 70 sq m each, or 380 condominium units at about 100 sq m each. Subject to approval, it is possible to have a 10 per cent balcony space added, increasing the area to 449,031.63 sq ft.
Leonie Gardens, located at 23, 25 and 27 Leonie Hill in District 9, has 71 years remaining on its 99-year leasehold, which expires on Sept 14, 2089. The condo consists of 138 units, with a total strata area of 324,972.90 sq ft and a gross floor area of 410,431.80 sq ft.
The site is zoned residential under the Urban Redevelopment Authority Master Plan 2014, with a plot ratio of 2.8. According to Huttons, it can be developed into 544 condominium units averaging at about 70 sq m each, or 380 condominium units at about 100 sq m each. Subject to approval, it is possible to have a 10 per cent balcony space added, increasing the area to 449,031.63 sq ft.
Le Quest - mixed development, short drive from Singapore's second central business district in Jurong East
Located at the intersection of Shunfu Road and Marymount Road, within walking distance of Marymount MRT station - Le Quest sold 70 units on the first day of its Phase Two sales. The 516-unit development with one- to four-bedroom units will house a childcare centre, a supermarket, retail outlets and other food and beverage establishments over 6,000 square metres. Prices for one-bedroom and two-bedroom units, which proved popular among new buyers, start from S$703,000.
This Qingjian Realty (South Pacific) Group mixed development project in Bukit Batok offered just 115 units for sale on Saturday (May 19), just a week after it opened up the development for Phase Two preview. In August 2017, Le Quest - a beautiful mixed development, which is a short drive away from Singapore's second central business district in Jurong East, sold 280 units its Phase One sales.
With an average psf of $1,380, buyers can get a four-bedroom unit in the mixed-use development Le Quest from $1.8 million. Prices of the units offered in Phase Two, though higher than at first launch, did not deter buyers from snapping up the units as it is still one of the most competitive among the recent launches.
Qingjian Realty is planning to launch another exciting project - JadeScape, formerly the HUDC estate known as Shunfu Ville, this year. Visit the project website below for JadeScape:
This Qingjian Realty (South Pacific) Group mixed development project in Bukit Batok offered just 115 units for sale on Saturday (May 19), just a week after it opened up the development for Phase Two preview. In August 2017, Le Quest - a beautiful mixed development, which is a short drive away from Singapore's second central business district in Jurong East, sold 280 units its Phase One sales.
With an average psf of $1,380, buyers can get a four-bedroom unit in the mixed-use development Le Quest from $1.8 million. Prices of the units offered in Phase Two, though higher than at first launch, did not deter buyers from snapping up the units as it is still one of the most competitive among the recent launches.
Qingjian Realty is planning to launch another exciting project - JadeScape, formerly the HUDC estate known as Shunfu Ville, this year. Visit the project website below for JadeScape:
JadeScape, formerly the HUDC estate known as Shunfu Ville
Property News referenced from various websites Business Times, Straits Times, SRX, Edgeprop
- Published on
Dunearn Gardens sold for S$468 million.
The collective sale frenzy continues unabated as Dunearn Gardens, a 114 unit freehold residential development located off Newton Road, becomes the latest to be sold on its third attempt to EL Development Pte Ltd for $468 million.
The sale price translates to a land price of about $1,914 psf ppr, but if taking into account the 10% bonus balcony that would raise the proposed plot ratio to 3.08, the land price would be about $1,841 psf ppr subject to authorities approval. EL Development intends to redevelop the site into a 34-storey luxury condo comprising 348 units, consisting one to four bedroom apartment units.
The collective sale frenzy continues unabated as Dunearn Gardens, a 114 unit freehold residential development located off Newton Road, becomes the latest to be sold on its third attempt to EL Development Pte Ltd for $468 million.
The sale price translates to a land price of about $1,914 psf ppr, but if taking into account the 10% bonus balcony that would raise the proposed plot ratio to 3.08, the land price would be about $1,841 psf ppr subject to authorities approval. EL Development intends to redevelop the site into a 34-storey luxury condo comprising 348 units, consisting one to four bedroom apartment units.
Dunearn Gardens sold for $468 million
Olina Lodge sold for $230.9 million
The 67 unit Olina Lodge, a residential development located at 15 Holland Hill in prime District 10 has been sold en bloc for $230.9 million to Peak Opal - a unit of Kheng Leong, the privately held property development company of legendary banker, Wee Cho Yaw of UOB.
The sale price translates to a land rate of $1,712 psf ppr and is also 5% higher than the owner's reserve price of $220 million. Olina Lodge is zoned residential with a plot ration of 1.6 and a maximum height of 12 storeys. The project can be redeveloped into a new development with gross floor area of 148,348 sqft including 10% bonus GFA for balcony space. Development charge will not be payable due to the high development baseline.
The 67 unit Olina Lodge, a residential development located at 15 Holland Hill in prime District 10 has been sold en bloc for $230.9 million to Peak Opal - a unit of Kheng Leong, the privately held property development company of legendary banker, Wee Cho Yaw of UOB.
The sale price translates to a land rate of $1,712 psf ppr and is also 5% higher than the owner's reserve price of $220 million. Olina Lodge is zoned residential with a plot ration of 1.6 and a maximum height of 12 storeys. The project can be redeveloped into a new development with gross floor area of 148,348 sqft including 10% bonus GFA for balcony space. Development charge will not be payable due to the high development baseline.
Olina Lodge sold for $230.9 million
Twin Vew preview draws over 7,500 visitors
CSC Land's first development, Twin Vew in West Coast Vale attracted a strong turnout when its showflat opened for preview over the weekend with more than 7,500 visitors turning up over the 2 days.
The two 36 storey towers in the residential development will have 520 units comprising one to four bedders ranging from 484 sqft to 1,518 sqft. It will also have six penthouses, 2 shop spaces and a childcare centre. Indicative prices for the development range from $650,000 for a one bedroom unit to $1.55 million for a four bedroom unit including the early bird discount. Twin Vew is expected to be ready by the fourth quarter if 2021.
CSC Land's first development, Twin Vew in West Coast Vale attracted a strong turnout when its showflat opened for preview over the weekend with more than 7,500 visitors turning up over the 2 days.
The two 36 storey towers in the residential development will have 520 units comprising one to four bedders ranging from 484 sqft to 1,518 sqft. It will also have six penthouses, 2 shop spaces and a childcare centre. Indicative prices for the development range from $650,000 for a one bedroom unit to $1.55 million for a four bedroom unit including the early bird discount. Twin Vew is expected to be ready by the fourth quarter if 2021.
Twin Vew located at West Coast Vale near to the Jurong Lake District
Two freehold sites going enbloc
Park House in Orchard and St Michael's condominium in Serangoon have joined the collective sale frenzy with guide prices of $308 million and $112 million respectively. The $308 million reflects a land rate of approximately $2,387 psf ppr or $2,170 psf ppr after taking into consideration the 10% bonus gross floor area allowed for balconies. The 46,084 sqft freehold site has an allowable plot ratio of 2.8. Development charges are not payable as the baseline plot ratio is equivalent to about 3.66. The tender will close at 3pm on 31 May 2018.
Park House in Orchard and St Michael's condominium in Serangoon have joined the collective sale frenzy with guide prices of $308 million and $112 million respectively. The $308 million reflects a land rate of approximately $2,387 psf ppr or $2,170 psf ppr after taking into consideration the 10% bonus gross floor area allowed for balconies. The 46,084 sqft freehold site has an allowable plot ratio of 2.8. Development charges are not payable as the baseline plot ratio is equivalent to about 3.66. The tender will close at 3pm on 31 May 2018.
Park House in Orchard
St Michael's in Serangoon
The freehold 60 unit St Michael's condo off Serangoon Road has been launched for a collective sale on 24 April 2018 and is expected to fetch $112 million with no development charge payable due to its high baseline GFA. Including a 10% bonus balcony, which would raise the proposed plot ratio to 3.08, the land price would be about $1,072 psf ppr. Tender closes on 23 May 2018.
- Published on
The demand for private housing, especially Executive Condominiums (ECs), has increased steadily, partly because of the current low-interest rate climate and rising income growth in Singapore.
Although more new ECs have been launched in recent years to cater to the demand, the supply of executive condos in 2018 and 2019 are extremely low with only one project to be launched in 2018 called Rivercove Residences EC in Seng Kang area and only one EC project to be launched in 2019 in Punggol area.
Although more new ECs have been launched in recent years to cater to the demand, the supply of executive condos in 2018 and 2019 are extremely low with only one project to be launched in 2018 called Rivercove Residences EC in Seng Kang area and only one EC project to be launched in 2019 in Punggol area.
Parc Life Executive Condo (click to visit project website)
First introduced by the Government in 1999, ECs are a hybrid type of housing, that fall between public and private housing. ECs resemble private condominiums with its guarded security, swimming pools, clubhouses, playgrounds and more. They are built and managed by private developers but come at a cheaper price, as the land cost is subsidized by the government. Typically, ECs are located away from the city centre and MRT stations where land is more affordable.
The greatest draw of ECs is surely the fact that while they start out as HDB property, in 10 years' time they will be officially recognised as private property.
The greatest draw of ECs is surely the fact that while they start out as HDB property, in 10 years' time they will be officially recognised as private property.
Rivercove Residences Executive Condo (click to visit project website)
First-time applicants who are Singapore citizens and applying as a couple can get between $10,000 to $30,000 worth of CPF Housing Grants if their combined incomes are $12,000 and below. The income ceiling for new HDB flats is currently $12,000, while the income ceiling for ECs is $14,000.
For applicants whose combined household income is $12,001 or $13,999, the only ways you can get your hands on a new home are to purchase an EC or buy a unit in a private development which is much more expensive, therefore making ECs look attractive in comparison, since both ECs and condos all have condo facilities.
For applicants whose combined household income is $12,001 or $13,999, the only ways you can get your hands on a new home are to purchase an EC or buy a unit in a private development which is much more expensive, therefore making ECs look attractive in comparison, since both ECs and condos all have condo facilities.
moneysmart.sg
A hybrid between public and private housing, ECs cater to the needs of the “sandwich” class — those whose household incomes exceed the ceiling for public housing but are not quite yet able to afford a private property. As such, ECs come with a set of eligibility criteria to ensure affordability for this select group.
As with public housing, EC applicants must either form a family nucleus or join up with other singles if they are at least 35 years old. They must also not exceed the household income ceiling of S$14,000. Only Singaporean couples and Singaporean/permanent resident couples can buy an EC unit. Also, buyers have to fulfil a mandatory five-year minimum occupation period (MOP) before they are can rent out or sell the EC unit. Despite these restrictions, ECs come with a full suite of condominium facilities and are generally comparable to private developments in design.
As with public housing, EC applicants must either form a family nucleus or join up with other singles if they are at least 35 years old. They must also not exceed the household income ceiling of S$14,000. Only Singaporean couples and Singaporean/permanent resident couples can buy an EC unit. Also, buyers have to fulfil a mandatory five-year minimum occupation period (MOP) before they are can rent out or sell the EC unit. Despite these restrictions, ECs come with a full suite of condominium facilities and are generally comparable to private developments in design.
- Published on
Toho Mansion is a walk-up apartment with two four-storey residential blocks of 32 apartments - Straits Times Photo
Friday (March 9) - KBD Ventures, a subsidiary of construction and property developer Koh Brothers, has won the collective sale tender for Toho Mansion in Holland Road for S$120.43 million or around S$1,805 per sq ft per plot ratio. The freehold site, which has an area of 4,427.8 sq m and a plot ratio of 1.4, can be redeveloped into a potential gross floor area of 6,818.7 sq m, including a 10 per cent bonus balcony area.
Toho Mansion is a walk-up apartment complex with two four-storey residential blocks consisting of a total of 32 apartments. It sits on an elevated site next to a Good Class Bungalow housing estate and is in close proximity to Holland Village Shopping Centre and Chip Bee Gardens. The sale and purchase of the property are expected to be completed three months after the date of the acceptance. Toho Mansion sits on prime rare freehold site in the heart of the vibrant Holland Village lifestyle enclave.
Toho Mansion is a walk-up apartment complex with two four-storey residential blocks consisting of a total of 32 apartments. It sits on an elevated site next to a Good Class Bungalow housing estate and is in close proximity to Holland Village Shopping Centre and Chip Bee Gardens. The sale and purchase of the property are expected to be completed three months after the date of the acceptance. Toho Mansion sits on prime rare freehold site in the heart of the vibrant Holland Village lifestyle enclave.
Far East Consortium Int'l plans to redevelop Hollandia site into a high-end residential project - Straits Times photo
A unit of developer Far East Consortium International (FEC) has bought a collective sale site in prime Holland Road for $183.38 million. The collective sale project: Hollandia, located near bustling Holland Village and an MRT station, is sited on a 4,970.8 sq m freehold plot at the junction of Holland Road and Queensway, is in a popular residential enclave of landed homes and high-end condominiums.
Hollandia consists of a six-storey block of 48 apartments that was built in the mid-1980s. Owners of Hollandia can expect gross sale proceeds of $3.3 million to $4.2 million, which works out to over $2,000 psf on strata area. The site can be developed up to 12 storeys with an allowable gross floor area (GFA) of 10,004.56 sq m.
FEC said it plans to redevelop the site into a high-end residential development, with total GFA of about 10,000 sqm. The firm's unit, FEC Properties, launched the 400-unit Artra near Redhill MRT station last April. Artra, jointly developed by FEC and New World Development - had sold 191 apartments as at the end of last year. FEC has also undertaken projects in Australia and mainland China.
Hollandia consists of a six-storey block of 48 apartments that was built in the mid-1980s. Owners of Hollandia can expect gross sale proceeds of $3.3 million to $4.2 million, which works out to over $2,000 psf on strata area. The site can be developed up to 12 storeys with an allowable gross floor area (GFA) of 10,004.56 sq m.
FEC said it plans to redevelop the site into a high-end residential development, with total GFA of about 10,000 sqm. The firm's unit, FEC Properties, launched the 400-unit Artra near Redhill MRT station last April. Artra, jointly developed by FEC and New World Development - had sold 191 apartments as at the end of last year. FEC has also undertaken projects in Australia and mainland China.
Asia Gardens, completed in 1980s, is a freehold development in the Spottiswoode enclave - Straits Times Photo
Another four residential sites have hit the collective sale market to meet what appears to be an insatiable demand from developers.
Asia Gardens in Everton Road leads the way with an asking price of $338 million, followed by Park View Mansions near Jurong Lake at about $320 million, 27 Moulmein Rise with a reserve price of $110 million, or Katong Omega Apartments at $41 million.
Asia Gardens enjoys unobstructed panoramic views of the city skyline and sea beyond the Tanjong Pagar port area, has an asking price of $338 million - working out to $1,675 per square foot per plot ratio (psf ppr). The Asia Gardens site has a high development baseline and could yield a condominium of up to 36 storeys with about 270 units, assuming an average size of 70 sq m.
Asia Gardens, completed in the late 1980s, is a freehold development in the Spottiswoode enclave comprising 80 apartments and four penthouses on a land area of about 72,059 sq ft with a gross plot ratio of 2.8. Asia Gardens located near the Central Business District, a short drive from Orchard Road and HarbourFront, and only 400m from the Outram Park MRT interchange, serving the East-West and North-East lines and the upcoming Thomson-East Coast Line.
Asia Gardens in Everton Road leads the way with an asking price of $338 million, followed by Park View Mansions near Jurong Lake at about $320 million, 27 Moulmein Rise with a reserve price of $110 million, or Katong Omega Apartments at $41 million.
Asia Gardens enjoys unobstructed panoramic views of the city skyline and sea beyond the Tanjong Pagar port area, has an asking price of $338 million - working out to $1,675 per square foot per plot ratio (psf ppr). The Asia Gardens site has a high development baseline and could yield a condominium of up to 36 storeys with about 270 units, assuming an average size of 70 sq m.
Asia Gardens, completed in the late 1980s, is a freehold development in the Spottiswoode enclave comprising 80 apartments and four penthouses on a land area of about 72,059 sq ft with a gross plot ratio of 2.8. Asia Gardens located near the Central Business District, a short drive from Orchard Road and HarbourFront, and only 400m from the Outram Park MRT interchange, serving the East-West and North-East lines and the upcoming Thomson-East Coast Line.
Katong Omega Apts at 357 to 367C, East Coast Road, in District 15 - Straits Times Photo
Owners at Park View Mansions are expecting $320 million in their collective sale attempt translating to $1,183 psf ppr, inclusive of $157 million to intensify the land and top up to fresh 99-year lease. Park View Mansions has a land area of 191,974 sq ft, with an allowable gross plot ratio of 2.1. The site can yield about 403,145 sq ft of GFA upon redevelopment.
27 Moulmein Rise near Novena and an adjoining plot of land with a combined reserve price of $110 million. This translates to a land rate of $1,525 psf ppr, based on a maximum allowable GFA of 72,147 sq ft, including a 10 per cent balcony area. Both plots are owned by 27MR and no development charges are payable. The sites, which have a total land area of 22,198 sq ft, could yield up to 87 units. 27 Moulmein Rise is in prime District 11 and near the upcoming Health City Novena, which is due for completion by 2030.
Katong Omega Apartments at 357 to 367C, East Coast Road, in District 15 is also on the market recently when all owners of the 18 units have unanimously agreed to sell, so strata board approval is not required. The Katong Omega Apartments site is expected to fetch at least $41 million, or about $1,062 psf ppr, including a development charge of $480,000 as it is located in a heritage district on a land area of about 27,902.4 sq ft, with a plot ratio of 1.4, and an allowable height of up to five storeys.
Tenders close on April 5 for Katong Omega Apartments, April 16 for Asia Gardens, April 18 for 27 Moulmein Rise, and April 20 for Park View Mansions.
27 Moulmein Rise near Novena and an adjoining plot of land with a combined reserve price of $110 million. This translates to a land rate of $1,525 psf ppr, based on a maximum allowable GFA of 72,147 sq ft, including a 10 per cent balcony area. Both plots are owned by 27MR and no development charges are payable. The sites, which have a total land area of 22,198 sq ft, could yield up to 87 units. 27 Moulmein Rise is in prime District 11 and near the upcoming Health City Novena, which is due for completion by 2030.
Katong Omega Apartments at 357 to 367C, East Coast Road, in District 15 is also on the market recently when all owners of the 18 units have unanimously agreed to sell, so strata board approval is not required. The Katong Omega Apartments site is expected to fetch at least $41 million, or about $1,062 psf ppr, including a development charge of $480,000 as it is located in a heritage district on a land area of about 27,902.4 sq ft, with a plot ratio of 1.4, and an allowable height of up to five storeys.
Tenders close on April 5 for Katong Omega Apartments, April 16 for Asia Gardens, April 18 for 27 Moulmein Rise, and April 20 for Park View Mansions.
