Tag Archives: Urban Redevelopment Authority

Versailles up for collective sale by tender

Posted on 24 Apr 2013 | Comments Off on Versailles up for collective sale by tender

A 55-unit residential development at Guillemard Road has been put up for collective sale by tender.

Versailles has an indicative price tag of between S$105 million and S$110 million, which translates to some S$1,088 per square foot (psf) to S$1,133 psf.

The site has a land area of around 53,073 square feet (sq ft).

Exclusive agent for the deal Jones Lang LaSalle said the development has a potential gross floor area (GFA) of about 122,598 sq ft and could yield some 148 units of varying sizes.

The building is located near the Paya Lebar MRT station and the Dakota MRT station.

The global property consultant said the new project will attract owner-occupiers and investors due to the upcoming Paya Lebar Central, and the lack of supply of new residential projects in the vicinity.

It added that the site is near popular schools like Tanjong Katong Primary School and Chung Cheng High School.

National Director of Investments at Jones Lang LaSalle, Yong Choon Fah, said: “This is a rare freehold condominium redevelopment site that is located within walking distance to the up-and-coming Paya Lebar Central.

“According to the Urban Redevelopment Authority, 12 hectares of land around Sims Avenue have been set aside for this commercial hub at the city fringe. It will comprise a mix of offices, hotels, retail and public spaces, some with riverfront.”

The tender will close at 2.30pm on 30 May 2013.

Source : Channel NewsAsia – 24 Apr 2013

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Posted in En-bloc / Collective Sales

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Private home sales in Q1 sets new record

Posted on 24 Apr 2013 | Comments Off on Private home sales in Q1 sets new record

2,793 units were sold in March, nearly four times more than the 712 units snapped up in February, according to Knight Frank’s residential bulletin for Q1 2013. It also set a new record-high, surpassing the previous peak of 2,772 units in July 2009.

The overall new sales volume for the first quarter is now about 5,533 units, up 27 percent from Q4 last year with most of the sales coming from major launches in the Outside Central Region (OCR) such as Trilinq, D’Nest, Urban Vista, Bartley Ridge and Hillion Residences.

“While some prospective homebuyers remain sensitive to price levels with the higher ABSD and new tax policies; new launches with good location attributes and attractive price offers continue to draw genuine buyers especially in the mass market segment,” said Wendy Tang, Executive Director & Head of Residential Services at Knight Frank Singapore.

At the same time, Urban Redevelopment Authority’s (URA) All Residential Property Price Index showed that overall private home prices marginally increased by 0.5 percent in Q1 2013 from the previous quarter’s 1.8 percent growth.

Meanwhile, Knight Frank APAC Research Director Nicholas Holt noted that home prices across most Asia Pacific (APAC) nations are expected to dip due to property cooling measures introduced by respective governments.

“While every market is different, we believe that prices will soften in Singapore by an average of five percent and Hong Kong by 10 percent. In China over the next 12 months, there is likely to continue to be price appreciation in Tier 1 cities, while we could see drops in some of the Tier two and three cities. Finally, Malaysia is likely to see a rebound in activity following the upcoming election.”

Source : PropGuru – 24 Apr 2013

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Posted in Property Market / Real Estate

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