Tag Archives: Singapore Property

High demand for Sengkang, Jurong West BTO projects on first day of sale

Two Built-To-Order (BTO) housing projects were launched Friday, offering 1,200 flats in Sengkang and Jurong West.

On the first day of sale, the Housing and Development Board (HDB) received 501 applications for the units.

Located near two LRT stations, it is no wonder flat buyers are drawn to the 495 flats available at Fernvale Palms in Sengkang.

Said an interested buyer: “By the time the flat is ready (in three or four years), the place should be more or less established. At the same time, it allows me and my future wife (time) to save up after our marriage.

“I think it’s cheaper than the resale flats because you don’t have to pay the COV. And resale flats tend to be (more expensive) because the sellers tend to sell at high prices.” Continue reading

Supply, interest rates frame housing debate

The property market yesterday toasted the sale of a record 5,719 private homes in the third quarter, even though the industry posted a second consecutive month-on-month drop in sales to 1,143 units in September. Despite the high point, the discussion in property circles was marked by circumspection.

The number of homes that developers manage to sell in the fourth quarter as well as next year will be limited by the shrinking stock of launch-ready homes and developers’ fast-depleting landbanks.

While the economic outlook is improving, the accompanying scenario of rising interest rates may cause some to re-evaluate their property investment decisions as mortgage rates rise. If savings rates on bank deposits also increase, this will take some shine off parking money in property, which is what many investors have been doing this year, says DTZ executive director (consulting) Ong Choon Fah. Continue reading