Category Archives: New Launches

Condo-style HDB flat prices going up

Posted on 5 Sep 2009 | Comments Off on Condo-style HDB flat prices going up

Increases of up to $20k surprise analysts, given buyers’ income ceiling
The 480-unit Natura Loft at Bishan – an example of HDB’s Design, Build and Sell Scheme – is now more than 80 per cent sold, up from 75 per cent just a month or so ago. Developer QingJian Realty has raised prices by between $5,000 and $20,000 on the back of an improved market. — PHOTO: QINGJIAN REALTY

PROPERTY developers have raised the prices of condominium-style public flats for the first time since their inception, in a bid to ride the mass market property boom.

A check by The Straits Times revealed that prices of flats at Natura Loft at Bishan and The Peak@Toa Payoh have risen by up to 3 per cent, or $20,000, depending on the attributes of the flats.

This move has surprised industry analysts, as buyers of such hybrid flats under the Housing Board’s Design, Build and Sell scheme (DBSS) have a fixed household income ceiling of $8,000.

‘The prices are higher but the income ceiling is still the same. These buyers are unlikely to have seen their wages rise, given the recent recession,’ said one industry analyst who declined to be named. Continue reading →

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Posted in HDB, New Launches, Property Price

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410 units snapped up at Trevista preview

Posted on 1 Sep 2009 | Comments Off on 410 units snapped up at Trevista preview

Singaporeans make up 87% of buyers; even Swiss nationals among purchasers.

NTUC Choice Homes has sold 410 of the total 460 units it released for the preview of its Trevista condo in Toa Payoh last week. The co-operative is expected to release more units in the 590-unit project this weekend when it does an official launch, accompanied by an advertising campaign, for the project.

Worth the wait: More units in the 590-unit project are expected to be released at its official launch this weekend

Singaporeans picked up 87 per cent of the total 410 units. Permanent residents made up 7 per cent and non-PR foreigners, 6 per cent, of buyers.

The majority of PRs and non-PR foreigners were from China; some were also from Indonesia and Malaysia; there were also a few Swiss nationals, an NTUC Choice Homes spokeswoman said.

She said 70 per cent of the buyers have HDB addresses and the other 30 per cent, private addresses.

About 80 per cent of buyers purchased on the normal progress payment scheme. The remaining 20 per cent who opted for interest absorption scheme are being charged a 2 per cent price premium, the Choice Homes spokeswoman said.

When sales in the 99-year leasehold condo began on Friday morning for the first batch of 210 units, the average price was $898 per square foot, but with two subsequent batches of additional units released, prices were adjusted marginally upwards, although this also had to do with the newer units being on higher floors and having better orientation.

The average price currently is understood to be around $920 psf. Continue reading →

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Posted in New Launches, Property Market / Real Estate, Property Price

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