Tag Archives: Clover By The Park

Home sales pace subsides

Posted on 25 Oct 2009 | Comments Off on Home sales pace subsides

For the first time in months, supply outstrips demand but supply glut is unlikely
The stock of available homes for sale is beginning to outstrip demand for the first time in months. — ST PHOTO: ALPHONSUS CHERN

A quiet period is always a good time for taking stock – and the rare breather in the housing market right now is allowing buyers to size up the state of home supply.

As the feverish pace of new home sales begins to subside following price hikes and the Government’s efforts to cool the market, the stock of available homes for sale is beginning to outstrip demand for the first time in months.

Last month, developers sold fewer units than they launched, only the second time they had done so since the property market started picking up in February this year.

The last time this happened was in July. Even then, however, the take-up rate was still almost one for one, at 96 per cent. Continue reading →

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Another residential plot triggered for sale

Posted on 24 Sep 2009 | Comments Off on Another residential plot triggered for sale

A PLOT in Upper Thomson Road has been triggered for sale after an unnamed developer committed to bid at least $82 million for the site.

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The bid – it works out to $174 per sq ft per plot ratio – comes less than a fortnight after government measures to rein in the property market and indicates that developers are still keen to chase residential sites.

The 2.08 ha plot, which is near Lower Peirce Reservoir Park and Bishan Park, has been available on the reserve list since April last year.

It could go for tender only if a developer indicated interest by committing to a minimum bid acceptable to the Government.

A tender for the site will now be launched in two weeks, said the Urban Redevelopment Authority (URA) yesterday.

Experts say the plot, which can generate a maximum gross floor area of 43,781 sq m, has plenty of appeal, even though it is not near an MRT station.

CBRE Research executive director Li Hiaw Ho said it is likely to sell at between $375 psf and $425 psf per plot ratio.

The developer could probably launch the new project at $800 psf to $850 psf, he added. Continue reading →

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