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Adjoining residential sites in Upper Serangoon put up for sale

Posted on 16 Jul 2012 | Comments Off

Two adjoining freehold residential sites in Upper Serangoon have been put up for sale.

Marketing agent Colliers International says the indicative pricing for the sites at 1 Surin Avenue and 790 Upper Serangoon Road is about S$40 million.

In a statement, Tang Wei Leng, executive director of investment services at Colliers International, said: “Indicative pricing is in the region of S$40 million. Including a development charge of S$6.1 million, the price works out to be some S$934 per square foot.

“With a total land area of 42,846 sq ft, the site can be re-developed to accommodate some 26 units of cluster terrace house, with areas ranging from 3,500 sq ft to 5,000 sq ft each.”

Colliers added that cluster housing appeals to buyers who prefer larger living spaces as well as attract investors due to the higher rental yield.

The property consultancy says typically, new cluster developments could enjoy a rental yield of 4 to 5 per cent, while conventional landed housing may have a rental yield of about 3 per cent.

1 Surin Avenue is currently occupied by a two-storey detached house which is vacant, while the adjacent Upper Serangoon Road is formerly the Singapore Crocodile Farm, which has since ceased operations.

The tender will close on August 15, 2012.

Source : Channel NewsAsia – 16 Jul 2012

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Posted in Property Market / Real Estate

Tagged Crocodile Farm, Land Sales

New private home sales fall 19.4% in June

Posted on 16 Jul 2012 | Comments Off

The number of new private homes sold in June continued to fall for the second consecutive month, according to the latest data released by the Urban Redevelopment Authority (URA).

Developers sold 1,371 private homes (excluding executive condominiums) in June, down 19.4 per cent from May when 1,702 units were sold.

May’s private home sales figures had dropped 32 per cent compared to April and, for the first time, bucked the strong sales growth momentum recorded in the first four months of the year.

In June, 1,111 new private homes in the suburban areas, or Outside Central Region (OCR), were sold, 8 per cent lower than in May.

The biggest dip in the number of sales came from the city fringes, or Rest of Central Region (RCR). 119 new private homes in the city fringes were sold — a 67.2 per cent decline compared to May.

But 141 new private homes in the city or Core Central Region (CCR) were sold, four per cent higher than in May.

The two top selling private condominium projects in June were River Isles located in Punggol with 263 units sold and Sea Esta in Pasir Ris with 255 units sold.

The best performing executive condominium sale was Watercolours at Pasir Ris, with 201 units changing hands in June.

Including executive condominiums, a total of 1,725 units of new homes were sold last month.

Source : CNA – 2012 Jul 16