Daily Archives: 25 Oct 2009

S$4m public space unveiled at Dhoby Ghaut

Posted on 25 Oct 2009 | Comments Off on S$4m public space unveiled at Dhoby Ghaut

A new S$4 million public space has been unveiled at Dhoby Ghaut.

It is a space for everyone and provides a quiet corner for those wishing to seek respite from the bustle of the city.

Dhoby Ghaut Green, just outside the Dhoby Ghaut MRT station, is the latest addition to the 28 parks in the city.

To minimise its impact on surrounding developments, it features a submerged cocoon-shaped amphitheatre that seats 250 people.

A shaded gravel area allows arts and community groups to stage performances, while an open-turfed field caters to outdoor sports activities. There is also a cafe which provides alfresco dining. Continue reading →

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COV shoots up to $12,000

Posted on 25 Oct 2009 | Comments Off on COV shoots up to $12,000

HDB resale market hits new marks

Be ready to cough up even more hard cash if you are planning to buy a resale HDB flat any time soon, say analysts as the bouyant public residential market – in parallel with the private home sector – set record highs.

Housing board statistics on Friday confirmed what flat-seekers have been complaining about in recent months: The median cash over valuation (COV) – what a buyer has to pay in cash, over and above the bank’s valuation of the property – jumped four times to $12,000 during July to September, from $3,000 in the previous quarter.

Buyers in Yishun and Jurong West had to fork out the most in COV: On average, they paid $16,900. Analysts said this was because the valuation of flats in these two estates was generally lower than for units elsewhere, even though they offer comparable amenities and accessibility.

At the other end of the scale, those who bought resale flats in Pasir Ris paid $7,000 in COV on average.

With the number of new private homes sold hitting a high of 5,578 in Q3, the HDB resale market also set two new marks: First, its resale price index hit a new peak of 145.2. Second, the 11,649 units sold meant that the number of transactions within a quarter is the highest since HDB released such data in 2000. Continue reading →

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