Category Archives: Government

More private homes investigated for flouting minimum stay law

The number of private residential properties investigated by Urban Redevelopment Authority (URA) for breaching the minimum stay law has risen from 1,000 between 2014 and 2016, or an average of around 330 properties per year, to 600 from January to September this year, reported Channel News Asia.

Attributing the increase partly to “heightened public awareness of the regulations in place”, a URA spokesperson revealed that majority of the offences took place in condominiums.

To protect the “living environment of neighbouring residents”, URA has set the minimum rental period for private residential properties in Singapore to three months, which means typical short-term letting on platforms such as Airbnb is prohibited.

According to the spokesperson, URA is informed of potential violations either through feedback received from affected neighbours or a condominium’s managing agent or management corporation.

“All feedback will be investigated and URA works closely with the managing agents and management corporations on the investigations.”

URA, however, noted that most of the offenders have complied upon being served with enforcement notices, eliminating the need for further action.

“In considering the appropriate enforcement action to be taken, URA will take into account the specific circumstances of each case,” said the spokesperson.

“If the offenders are recalcitrant or fail to comply with our requirements following enforcement actions, they are liable to be charged in court.”

Notably, it is an offence to convert a residential property’s use for short-term accommodation without the approval of the URA under the Planning Act. Persons found to be violating the rules may be imprisoned for up to 12 months and/or fined up to $200,000.

Source – PropertyGuru

URA launches sale of River Valley site

Martin Place residential site resize

Location of the land parcel at Martin Place.

A prime residential site at Martin Place in River Valley has been launched for sale by public tender, according to the Urban Redevelopment Authority (URA).

Released under the confirmed list of the first half 2016 Government Land Sales (GLS) Programme, the approximately 171,535 sq ft site has a maximum gross floor area of 480,307 sq ft. It could potentially yield about 450 condo units.

The 99-year leasehold site is located close to the future Great World MRT station on the Thomson-East Coast Line. Nearby condominiums include Martin Place Residences, Rivergate and Martin 38.

Desmond Sim, Head of CBRE Research in SEA, said: “This is a site that is expected to draw much interest due to its prime location. The last time a site was made available in the vicinity was back in March 2011 at Robertson Quay ($938 psf ppr). In addition, the last site awarded in District 9 was the Mount Sophia site back in September 2013 ($1,157 psf ppr).

“This shows that sites in the prime area from the GLS Programme are far and few between. As such, CBRE Research will not be surprised if the site garners eight to 12 bids, which will come from established property developers as well as a handful of joint ventures. CBRE Research expects the top bid to be in the region of $1,000 psf ppr.”

The tender for the land parcel will close on 28 June 2016, said the URA.

Martin Place sale site

Aerial view of the sale site. (Photo: URA)