Tag Archives: Urban Redevelopment Authority

Keppel Land unit wins bid for Kim Tian site

Posted on 24 Apr 2013 | Comments Off on Keppel Land unit wins bid for Kim Tian site

Keppel Land unit Harvestland Development has won the tender for a private residential site in Kim Tian Road with a top bid of S$550.3 million, Urban Redevelopment Authority data showed on Tuesday.

Harvestland’s bid translates to S$1,162.86 per sq ft per plot ratio, the highest ever for a pure residential site, beating the previous record of S$1,107 psf ppr for a site at Farrer Road, said Mr Lee Sze Teck, Senior Manager for Training, Research and Consultancy at DWG, before the tender was awarded.

The tender had attracted 11 bids at the close on April 18.

The centrally-located 99-year leasehold site was released under the Confirmed List of the Government Land Sales programme for the first half of this year. Near Tiong Bahru MRT Station, it sits on about 118,302 sq ft of land and has a maximum permissible gross floor area of about 473,213 sq ft.

Keppel Land said it would develop about 500 homes ranging from 500 sq ft to 1,350 sq ft in one- to four-bedroom configurations when awarded the site.

Source : Today – 24 Apr 2013

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Posted in Developers, Land Sales

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Foreign interest up for private property

Posted on 23 Apr 2013 | Comments Off on Foreign interest up for private property

Foreign demand for private homes in Singapore increased 40 percent with 523 units purchased during the first quarter of 2013 compared to the 373 sold during the same period last year, although the figures are still below levels seen before the introduction of the additional buyer’s stamp duty (ABSD) in December 2011, The Straits Times reported.

Analysts also noted that there has been a shift in interest from luxury homes to mass market condominiums.

Quarter-on-quarter, foreigners (excluding PRs) took up 10.7 percent of the 4,884 private homes sold in Q1 this year, compared to 7.4 percent in the previous quarter.

This is also an increase from the first, second and third quarters of 2012 when foreign buyers purchased 5.7, 7.1 and 7.2 percent of new private homes sold respectively, according to the Urban Redevelopment Authority (URA).

Prime District 10 remained the most sought-after area to purchase property with District 19 following close behind. Projects popular among house hunters included d’Leedon in District 10 and La Fiesta in Sengkang.

The Chinese and Indonesians were the largest foreign buyer groups in Q1, followed by the Malaysians. Moreover, China buyers appear to be returning as a force in the market, accounting for 42.6 percent of the 108 foreign buyers in March.

Source : PropertyGuru – 23 Apr 2013

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Posted in Property Market / Real Estate

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