Category Archives: Property Market / Real Estate

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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Development charges come down

Posted on 1 Sep 2009 | Comments Off on Development charges come down

Modest cuts reflect cautious stance by Government, say consultants

THE Government has made some moderate cuts to the development charges which property developers pay for enhancing the use of non-landed residential sites, such as condominium sites.

This reflects the Government’s cautious outlook on the property market, some property consultants say, though one consultant queried any cut in the current red-hot residential market.

The rates for development charges fell by an average of 2 per cent, compared with a 15 per cent cut six months ago. These charges can vary from a few million dollars to tens of millions depending on the size of the project involved.

Some areas were unchanged while others were subject to bigger falls. The rate for Sentosa, for instance, got the biggest cut – 16.67 per cent – while there was a 10 per cent fall for the Balestier area. Continue reading →

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