Daily Archives: 1 Sep 2009

Another round of trimming for development charge rates

Posted on 1 Sep 2009 | Comments Off on Another round of trimming for development charge rates

Sharp cuts for commercial DC rates at Raffles Place; no change for landed residential, industrial uses

The government has again trimmed development charge (DC) rates for some sites – though the cuts on average are smaller than those made six months ago.

The changes were largely in line with market expectations. Some industry watchers felt that the continued cuts reflect the government’s caution in dealing with the property market when the economy remains shaky.

Developers have to pay DC for enhancing the use of some sites, and the market monitors these rates closely as they reflect land values. As part of a half-yearly review, the National Development Ministry (MND) announced yesterday a 2 per cent drop in the average DC rate for non-landed residential use. This is far below the 15 per cent chop in February.

MND also reduced the average DC rate for hotel and hospital use by 4 per cent. This is again smaller than the previous 10 per cent cut. Continue reading →

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Posted in Construction, Developers, General, Property Market / Real Estate

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Punggol Spectra to offer new 2- and 3-room flats

Posted on 1 Sep 2009 | Comments Off on Punggol Spectra to offer new 2- and 3-room flats

THE Housing Board launched Punggol Spectra yesterday, the third of its build-to-order (BTO) projects in Punggol this year and the first to introduce two- and three-room flats.

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Under the BTO scheme, flats are built only when a certain level of demand is reached.

Located in Punggol Central and a short drive from Tampines Expressway, Punggol Spectra will offer 301 two-roomers, 285 three-roomers, and 556 four-room flats.

The two-roomers of 46 to 47 sq m are priced at $89,000 to $109,000, and three-room flats of 69 sq m are selling for $151,000 to $179,000.

Four-room flats of 94 to 96 sq m are selling for $234,000 to $293,000. Similar, smaller standard resale flats sell for $310,000 to $357,000, said HDB.

First-time buyers with an average monthly household income of $5,000 or less can apply for an Additional CPF Housing Grant of up to $40,000. Continue reading →

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Posted in HDB, Property Market / Real Estate

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