Tag Archives: Residential area

URA to launch tender for site at Prince Charles Crescent

Posted on 30 Jul 2012 | Comments Off on URA to launch tender for site at Prince Charles Crescent

The Urban Redevelopment Authority (URA) announced today that it has accepted an application from a developer to put up the residential site at Prince Charles Crescent for sale by public tender.

The land parcel was made available for sale through the Reserve List system on 15 May 2012. URA received an application from a developer for the site to be put up for public tender. The developer committed to bid at a price of not less than $390,000,000 in the tender for the land parcel. As the minimum price committed by the developer is acceptable to the Government, the site will be released for sale by public tender.

In accordance with the procedures of the Reserve List system, URA is making public the minimum price committed for the site. However, the identity of the applicant will not be released. URA will launch the public tender for the site in about two weeks. The launch date will be announced later. The tender period for the land parcel will be about five weeks.

With a site area of about 2.38 ha, the residential site will have a maximum permissible gross floor area (GFA) of 49,950 sqm.

The land parcel is located in an established residential area within the central region. It is located near Redhill MRT station and is also a short drive away from the Central Business District, Marina Bay and Orchard Road.

Source URA 2012 Jul 30

 

 

 

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Posted in Land Sales

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Private residential prices increased by 0.4% in 2Q 2012

Posted on 27 Jul 2012 | Comments Off on Private residential prices increased by 0.4% in 2Q 2012

The Urban Redevelopment Authority (URA) released today the real estate statistics for 2nd Quarter 2012.

Prices of private residential properties increased by 0.4% in 2nd Quarter 2012, compared to the 0.1% decrease in the previous quarter.

Prices of non-landed properties in Core Central Region (CCR) and Rest of Central Region (RCR) increased by 0.6% and 0.4% respectively in 2nd Quarter 2012, compared to the decrease of 0.6% for both market segments in the previous quarter. For Outside Central Region (OCR), prices increased at a slower pace of 0.5% in 2nd Quarter 2012, compared to the increase of 1.1% in the previous quarter.

Rentals of private residential properties increased by 0.3% in 2nd Quarter 2012, the same rate of increase as in the previous quarter.

For new launches, a total of 6,115 uncompleted private residential units were launched for sale by developers in 2nd Quarter 2012, compared with 6,903 units in 1st Quarter 2012.

5,402 private residential units (both completed and uncompleted) were sold by developers in 2nd Quarter 2012, compared with 6,526 units in 1st Quarter 2012. Most of the units, close to 70%, sold by developers were from OCR in 2nd Quarter 2012.

Take-up of shoe-box units (i.e. smaller than 50 sqm) accounted for 19% (or 1,038 units) of new sales in the quarter, less than the 27% in the previous quarter. Lower-priced units less than $750,000 accounted for 27% (or 1,435 units) of new sales in 2nd Quarter 2012, lower than the 42% (or 2,766 units) seen last quarter (see Annex C-3).

The volume of resale transactions increased significantly from 2,206 units in 1st Quarter 2012 to 3,487 units in 2nd Quarter 2012. Resale transactions accounted for 37% of all sales in 2nd Quarter 2012, higher than the 24% in the previous quarter.

Sub-sales accounted for 6% of all sale transactions in 2nd Quarter 2012, higher than the 5% recorded in 1st Quarter 2012.

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Posted in Property Market / Real Estate

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