Tag Archives: Urban Redevelopment Authority

Government to release four residential sites

Posted on 20 Apr 2013 | Comments Off on Government to release four residential sites

Government to release four residential sites estimated to yield 1,800 housing units in April 2013.

To provide developers and home-buyers with more choices in private housing, the Housing & Development Board (HDB) and Urban Redevelopment Authority (URA) will be releasing four residential sites for sale in April 2013 under the Government Land Sales Programme for 1st half 2013. These four sites can collectively yield about 1,800 residential units.

One Executive Condominium site at Anchorvale Crescent and two residential sites at Fernvale Close and Faber Walk are launched for sale today under the Confirmed List. The fourth site, an Executive Condominium site at Punggol Central, will be launched on 29 April 2013 under the Confirmed List.

The tender for the Punggol Central site will close on the same day as two other Executive Condominium sites at Punggol Drive and Yuan Ching Road – 30 July 2013. The latter two sites will be launched for sale in June 2013. The move to close the tenders on the same day is being initiated in response to feedback from the public and real estate industry that this could help moderate tender bids and, in turn, future property prices. The sites were chosen on the basis that all three are meant for Executive Condominium developments and slated for launch during the second quarter of this year.

Land Parcel at Anchorvale Crescent
The site is located in close proximity to Farmway LRT station and Tampines Expressway (TPE). It is also near Sungei Punggol, Sengkang Riverside Park, Sengkang Floating Wetland and Sengkang Sports & Recreation Centre.

Land Parcel at Faber Walk
Situated within an established residential estate, the 1.5 ha land parcel has direct access to the Ulu Pandan Park Connector, and is also near the commercial amenities at Jurong such as IMM, JCube, and the upcoming JEM and Westgate.

Land Parcel at Fernvale Close
The site is located in close proximity to Layar LRT station and has frontage to Sungei Punggol and the nearby facilities and amenities like Sengkang Riverside Park, Sengkang Floating Wetland and Sengkang Sports & Recreation Centre. The upcoming Seletar Mall is also located within walking distance.

Land Parcel at Punggol Central/Edgedale Plains
The site is located in close proximity to Oasis LRT station and Tampines Expressway (TPE). Amenities and facilities in Punggol town include the award-winning My Waterway @ Punggol, the Punggol Promenade and commercial malls such as Punggol Plaza and the upcoming Waterway Point.

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New private home sales jump in March

Posted on 11 Apr 2013 | Comments Off on New private home sales jump in March

Sales of new private homes jumped by four times in March, compared to February.

Latest figures released by the Urban Redevelopment Authority showed that developers sold 2,793 new units (excluding executive condominiums) in March

This is the highest monthly sale volume since June 2007, surpassing the previous high of 2,772 units in July 2009, according to Dennis Wee Group.

This is also in sharp contrast to the 712 new private homes sold by private developers in February.

March’s strong sales volume came despite the government’s latest round of cooling measures introduced in January this year to curb the Singapore property market.

Analysts said developers’ decisions to hold back property launches in February in view of the festive season and the cooling measures had paid off.

Popular new launches include D’Nest, Bartley Ridge, Urban Vista, Senette Residence and Hillion Residences.

Ong Teck Hui, national director of Research & Consultancy at Jones Lang LaSalle said, “By keeping new supply off the market in February, developers have benefited from a strong demand rebound in March as well as the resultant positive impact on the market. It tells us that notwithstanding the latest measures, underlying demand remains healthy.”

Eugene Lim, key executive officer of ERA Realty Network said more home buyers are flocking to new launches as developers offer promotions and discounts to offset the higher additional buyers’ stamp duties.

“The latest March numbers show that well located projects that are priced competitively will continue to sell well,” he said.

Meanwhile, URA data showed that 1,814 units of new private homes located in the suburbs were sold in March, while developers moved 822 units in the fringes.

But the number of new private homes sold in the city dipped slightly to 157 units.

Mohd Ismail, CEO of PropNex, said, “Moving forward, the private property market is expected to remain subdued as the full impact of the property cooling measures is yet to be seen. Sales volumes are likely to stabilise. Transactional volumes are expected to be around 1,400-1,600 units per month on average for the first half of 2013 as the incentives and discounts are still being offered by developers.”

Source : Channel NewsAsia – 11 Apr 2013

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Posted in Luxury Property, Property Market / Real Estate

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