Queens Peak Condo by MCC Land @ Queenstown MRT

The land site of Queens Peak Queenstown was won by HY Realty, which has an indistinguishable investors from Chinese designer Hao Yuan Investment. They rose triumphant among other 8 eight confident bidders, for example, Allgreen Properties and City Developments(CDL) with the best offer of S$483.18 million. Working out to be S$871.14 per square foot per plot proportion (psf ppr) for the 99-year rent site, it is evaluated that Queens Peak cost might be between $1550 to $1600 psf considering in all other cost.

As there are just a modest bunch of apartment suites in the Queenstown domain, for example, Queens Condo, Alexis, The Anchorage and up and coming Commonwealth Towers, it is normal that Queens top condominium will in any case be sought after in spite of the present economic situation. In addition, it is additionally situated at the city periphery with a high thickness of comforts considering the bequest is a standout amongst the most develop in Singapore.

The surmised Queens Peak condo TOP date will be on December 2020. With the current rat of Commonwealth towers sitting appropriate adjacent to Queens Peak Condo, there are no more supply in as of now for new apartment suite extends in the Queenstown region. At of the season of writing(October 2017), there are extremely constrained supply of fresh out of the box new improvements in the territory with Principal Garden having around 15 units, Alex Residences around 14 units and Artra at around 60% sold.

Kingsford Waterbay Upper Serangoon View condo near Hougang MRT

Kingsford Waterbay advancement boasts of full townhouse facilities, emphasizing a mega swimming pool, toward over 200 meters long. For its predominant location, every one units in this townhouse will Possibly face the delightful Sungei Serangoon Waterfront, or revel in sees of the stupendous swimming pool.

There are Different civilities around Kingsford Waterbay Singapore. For spare shuttle transport on Hougang MRT, inhabitants In Waterbay townhouse could revel in not difficult get will dining, saving money Furthermore retail choices at Hougang Mall, and close-by heartland shopping center Also Nex Serangoon.

With An totally determination about units sizes What’s more sorts starting with 1 room will 5 room units, penthouses What’s more strata-houses, there will be a perfect gas design for anyone.

118 HDB flats involved in mortgagee sales

118 HDB flats involved in mortgagee sales

There had been 118 cases of completed mortgagee sales involving HDB flats from January 2013 to November 2017, according to a parliamentary reply from the Ministry of National Development on Wednesday (10 January).

It stated this in response to a question from Gan Thiam Poh, Member of Parliament (MP) for Ang Mo Kio Group Representation Constituency (GRC).

Notably, mortgagee sales happen when people default on their housing loans, resulting in banks auctioning off the property to reclaim the amount they lent plus interest.

Gan also asked how many flat lessees have approached the Housing and Development Board (HDB) with the intention of selling their flats to the government agency, as they were unable to dispose the unit via the open market.

“HDB does not buy back flats from flat owners and does not keep records of requests by flat owners who wish to sell their flats to HDB,” replied the Ministry, adding that flat owners who have fulfilled the five-year minimum occupation period (MOP) are allowed to sell their units in the open market.

The Housing Board does not meddle in such transactions mutually agreed upon by the seller and buyer, it said in response to Gan’s query on how the government agency assists sellers in disposing their flats.

“HDB does, however, facilitate the sale of flats on the open market through measures such as publishing information on recent resale transactions on its website, and providing a resale checklist to guide sellers and buyers through the process.”

Furthermore, Gan asked how many flats have been sold by lessees with the sale proceeds being insufficient to return to their individual accounts with the Central Provident Fund (CPF).

The Ministry answered that these numbered about six percent of the total HDB flats transacted in the open market between January 2013 and November 2017.

2,500 households took up HDB’s Lease Buyback Scheme

HDB resale flat

About 2,500 families have successfully applied for the Housing and Development Board’s Lease Buyback Scheme (LBS) since it was launched in March 2009, according to a written parliamentary reply from the Ministry of National Development on Monday (8 January).

It stated this in response to a question from Gan Thiam Poh, Member of Parliament (MP) for Ang Mo Kio Group Representation Constituency (GRC).

Moreover, Gan asked about each applicant’s average payout, and whether the amount they each received has been impacted by the falling resale prices and rental income of HDB flats.

“The average LBS proceeds among the households who have benefited from the scheme to date is about $146,000,” replied the Ministry.

“The payout is dependent on the market value of the flat at the time of application. Specifically, the LBS proceeds (comprise) the market value of the flat with its full remaining lease, minus the value of the lease retained by the household and any outstanding monies due to HDB.”

Under this scheme, elderly owners can sell part of their HDB flat’s remaining lease and opt to retain a length of the lease based on the age of the youngest owner.

The proceeds from this will be used to top up their CPF Retirement Account (RA). They can then use their CPF RA savings to purchase a CPF LIFE plan, which will provide them with a monthly income for life.

To avail of LBS, all owners of a flat must reach the age of at least 65, and their combined monthly household income should not exceed $12,000. At least one of them must be a Singapore Citizen and they must not own a second property.

Furthermore, all owners must have fulfilled a Minimum Occupation Period (MOP) of five years. The scheme is only applicable to four-room or smaller HDB flats, and there must be at least 20 years of lease to sell to the Housing Board.

credits to propertyguru

Daintree residence condo sp setia toh tuck road

The Toh Tuck road condo site was the talk of the town during the launch of government land sales in the second quarter of 2016. Anticipating the uptrend of Singapore’s real estate market, it attracted a whopping 24 land-hungry developers to participate in the bidding with Malaysian developer SP Setia emerging winner. Submitting the highest bid at SGD $265 million, SP Setia International (S) Pte Ltd’s offer translates to a Daintree Residence price of land at $939 per square foot based on the maximum permissible gross floor area (GFA) of 26,210 square meter (282,122 square feet).

Bearing a plot ratio of 1.4, Daintree Residence is expected to feature 327 units luxurious residential units in multiple towers of 5 storeys in height. The development is a short walk away from Beauty World MRT station that serves the Downtown Line 2 and shopping complexes such as Bukit Timah Shopping Centre, Beauty World Center and Beauty World Plaza. The Daintree Residence condo is also near to Bukit Batok Nature Park and Bukit Timah Nature Reserve for residents who enjoy outdoor activities.

Functional Layout – SP Setia is an International developer that is rather well known for their practical layout being presented to buyers. Daintree Residences Toh Tuck Road floor plan is anticipated to feature 1 bedroom to 4 bedrooms unit mix that are fully renovated with custom built-in wardrobes and cabinets. Fitting nicely into every space brilliantly, the finishings are meant to minimize wastage and maximize space for buyers to live comfortably and not feel claustrophobic within the unit.

 

Head down to the Daintree Residence showflat now to take a look!

Knight Frank names new residential head for Asia Pacific

Knight Frank has appointed Victoria Garett as head of residential for Asia Pacific, based in Singapore.

Garrett, who spent four years in Dubai as Knight Frank’s head of the new homes team, relocated to Singapore in August 2017, focusing on the residential business in China. This saw her setting up residential teams in Shenzhen and Guangzhou.

In view of Knight Frank’s plan of growing and developing its Asia Pacific residential business, Garrett will oversee the marketing of overseas and local developments, sales and leasing.

“In this new year, we are looking at engaging with our clients on a more intimate level, particularly so where wealth preservation and inter-generational wealth transfer issues take centre stage for high-net-worth investors,” said Garrett.

“Providing clients with an integrated regional perspective on the opportunities developing across the region and beyond is how we would like to differentiate our services to our clients.”

credits to propertyguru

Gov’t spent $1.93bil on home improvement programme

Gov’t spent $1.93bil on home improvement programme

The Housing and Development Board (HDB) revealed that $1.93 billion had been spent under the Home Improvement Programme (HIP) since its launch in 2007 until 31 March this year, while another $40 million was spent under the Enhancement for Active Seniors (EASE) scheme.

HIP is for older HDB flats built up to 1986 which have not undergone the Main Upgrading Programme.

EASE, on the other hand, retrofits flats with elderly-friendly features. It is usually offered along with HIP in order to make it more convenient for residents, since improvement works could be carried out simultaneously, reported Channel News Asia.

As at November 2017, almost 149,000 households applied for EASE since its introduction in July 2012, with around 97,000 opting for the scheme together with HIP. The rest applied for the programme under the Direct Application scheme.

Focused on improvements within the housing units, HIP helps unit owners deal with common maintenance problems connected to ageing flats. It will only proceed when at least 75 percent of the eligible households within a block had voted in favour of the programme.

Notably, there are three primary components of work under HIP – Optional, Essential and EASE improvements.

Fully paid by the government, essential improvements are aimed at enhancing public health and safety standards, with works including repair of structural cracks or spalling concrete as well as pipe socket replacements with new clothes drying racks.

Works under the optional components include the upgrade of existing toilets and replacement of gates, main doors and refuse chute hoppers, while EASE improvements include slip-resistant treatment of toilet floor tiles and installation of ramps and grab bars.

Although home owners pay for the combination of improvement works they require, such works are heavily subsidised by the government by up to 95 percent.

In fact, upgrading works at 101,000 flats from 113 projects have already been completed as at 30 November 2017, while another 139,400 flats are in different stages of progress. HDB is set to select the remaining eligible flats by end-2018.

Among those who had their flats upgraded under the HIP and EASE programmes is Mr. Chew Ang Moh. While Chew is still able-bodied, he had opted for the EASE improvements.

“Since we have the chance to do so, we have arranged for the improvement works to be done now. We know we’re not getting any younger, and we don’t know when our bodies may fail us. So it’s important that we arranged for this to be done early,” said the 70-year-old Chew, who lives in a four-room flat with his 65-year-old wife, son and three grandchildren.

credits to propertyguru

Oxley Holdings acquires freehold property from interested person

Oxley Holdings logo

Oxley Holdings, via its wholly-owned subsidiary Oxley Amethyst Pte Ltd, has exercised an option to acquire a property along Balestier Road for $38 million from Owen Private Limited.

With a land area of around 1,118.4 sq m, the freehold property is zoned residential with commercial on the first storey at a gross plot ratio of 3.0.

In an SGX filing, Oxley revealed that Owen’s shareholders – Ching Chiat Kwong, Low See Ching and Tee Wee Sien – are also Oxley’s executive chairman and CEO; deputy CEO and substantial shareholder, respectively.

It noted that the three hold 47.5 percent, 42.5 percent and 10 percent, respectively, of the issued share capital of Owen.

But while the acquisition is an interested person transaction, the approval of shareholders will not be needed since the purchase consideration is around 3.5 percent of the group’s latest audited net tangible assets as at 30 June 2017.

Oxley believes that the purchase will enable it “to undertake a larger development project of greater value by amalgamating the property” with No. 3 Tessensohn Road and an adjoining state land.

Separately, Oxley announced that it has taken a 25.5 percent stake in Australian firm Pindan Capital Mermaid Beach (PC Mermaid Beach).

This comes after Oxley Australia subscribed for 4.845 million fully paid ordinary shares in PC Mermaid Beach, which has an issued share capital of A$19 million (S$19.7 million).

The remaining share capital comprising 14.155 million ordinary shares is held by Pindan Capital Investments, a fully-owned subsidiary of Pindan Group, in which Oxley holds a 40 percent interest.

“PC Mermaid Beach has acquired a 1,417-square metre site in the centre of Broadbeach and Mermaid Beach on the Gold Coast, Australia and intends to undertake a high-rise residential development on the site, subject to obtaining all relevant regulatory approvals,” it said.

Oxley explained that the investment in PC Mermaid Beach is in line with the group’s expansion plans.

credits to propertyguru

Bedok gets new red cycling paths

Bedok Reservoir Park crop

The Land Transport Authority (LTA) has opened the first 5km of the planned 13km bike paths, with the rest to be opened next month, reported The Straits Times.

The paths run along Sims Avenue East, Chai Chee Road, Bedok North Street 2, Bedok North Avenue 3 and New Upper Changi Road.

“When the entire network is completed, it will feature additional bicycle crossings, bicycle parking boxes and wheeling ramps to make it safer and more conducive for cycling,” said the LTA spokesman.

Painted red, the new paths around Bedok are modelled after the paths first used in Ang Mo Kio, which served as the test bed for new cycling infrastructure.

The LTA noted that the red lanes are popular with residents since they could be easily distinguished from regular footpaths.

“The prominent hue of these cycling paths also help alert pedestrians to the presence of cyclists and personal mobility device users,” it added.

The government began construction of the cycling network in the middle of 2015.

Bedok is poised to be Singapore’s ninth cycling town by 2018, joining the likes of Pasir Ris, Punggol and Jurong Lake District.

The government targets to construct cycling paths along all 26 Housing Board towns comes 2030, contributing to a nationwide network of 700km.

To date, the network is now at over 400km.

credits to propertyguru

Tampines new condo The Tapestry

This plot of land the Tapestry condo is sitting on is highly contested by 9 hopeful bidders upon the tender closure on 25th April 2017. Located diagonally opposite the Tampines Quarry, the land is eventually sold to Bellevue Properties, a wholly owned subsidiary of CDL who submitted a top bid of SGD $370.1 million. This translate to a Tampines avenue 10 condo psf of SGD $565.42 per plot ratio which is also 17.2% higher than the land price of Alps Residences that MCC Land paid for at S$483 per square foot per plot ratio. Comparing to the adjacent projects such as The Santorini and Alps Residences which are selling at an average price of $1070 to $1090 psf, analysts are expecting the Tapestry condo price to be in the range of $1200 psf. This is in consideration of the construction and other miscellaneous costs on top of the land price that CDL paid for. Please kindly fill in the Contact Us form to view the Tapestry condo showflat NOW! Excellent Connectivity – Tampines avenue 10 condo location is exceptional. Residents can to the rest of the island easily using major expressways and viaducts that is located nearby. Drivers exiting from Tapestry condo Tampines is able to get to the central area by way of the Bartley viaduct, it links up Bartley road, Braddell road and Bishan with ease with no traffic lights. Comprehensive Condo Facilities – Tapestry condo review should be superb with its well planned facilities within to provide a lifestyle packed with activities and yet conducive for families to live in