HDB puts up Jurong West land for tender at Westwood Avenue

SINGAPORE: The Housing & Development Board (HDB) on Monday accepted an application under the Reserve List System to put up a residential land parcel at Jurong West for public tender.

HDB said it will launch the tender for the land parcel in about two weeks.

The land parcel is at Westwood Avenue and it is proposed for the development of landed housing.

The area covers 14,098.9 square metres and is for a lease term of 99 years.

Under the Reserve List System, the government will put up a Reserve List site for public tender if it receives an application from a developer who commits, by signing an agreement and paying a deposit of five per cent of the bid price, to bid for the site at or above the minimum offer price.

For this site, the minimum offer price has been set at S$15,000,000.

- CNA/yb
By Channel NewsAsia
Posted: 26 October 2009 1318 hrs

Springbloom @ Serangoon Avenue 3 2+study for rent

Project : Springbloom @ Serangoon Avenue 3
Developer : MCL Land Pte Ltd
Tenure : 99 years
TOP : 1999

Total Units: 408
Studio Room: 83 to 83 sq.m. (893 to 893 sq.ft.)
2 Rooms: 104 to 108 sq.m. (1119 to 1163 sq.ft.)
3 Rooms: 121 to 133 sq.m. (1302 to 1432 sq.ft.)
4 Rooms: 143 to 181 sq.m. (1539 to 1948 sq.ft.)

Facilities:
BBQ pit, Car Park, Gymnasium, Playground, Sauna, Tennis Court, Squash Court, Swimming Pool, Wadding Pool, Security, Club House, Jogging Track

Sunglade 2 + Study @ Serangoon Avenue 2 for Rent

Project : Sunglade @ Serangoon Avenue 2
Developer : SV Developement Pte Ltd
Tenure : 99 years
TOP : 2003

Total Units: 475
2 Rooms (48 units): 75 to 80 sq.m. (807 to 861 sq.ft.)
2 Rooms +Balcony (3 units): 81 to 81 sq.m. (872 to 872 sq.ft.)
2 Rooms +Study (94 units): 90 to 97 sq.m. (969 to 1044 sq.ft.)
2 Rooms +Study+Balcony (7 units): 103 to 103 sq.m. (1109 to 1109 sq.ft.)
2 Rooms +PES+Study (1 units): 119 to 119 sq.m. (1281 to 1281 sq.ft.)
3 Rooms (187 units): 101 to 109 sq.m. (1087 to 1173 sq.ft.)
3 Rooms +Balcony (6 units): 111 to 113 sq.m. (1195 to 1216 sq.ft.)
3 Rooms +PES (11 units): 127 to 130 sq.m. (1367 to 1399 sq.ft.)
3 Rooms +Study (86 units): 110 to 115 sq.m. (1184 to 1238 sq.ft.)
3 Rooms +PES+Study (8 units): 141 to 141 sq.m. (1518 to 1518 sq.ft.)
4 Rooms Penthouse +Roof Terrace (24 units): 159 to 170 sq.m. (1711 to 1830 sq.ft.)

Facilities:
Swimming pool, Kid's pool, Jacuzzi, 2 Tennis courts, Barbeque, Children play area, Clubhouse with Gymnasium, KTV room, Function room, Changing room, Saunas, Karoake room, Reading room, Poolside pavilion, Fitness corner, Jogging track, Security, Foot reflexology walk, Simulated sand peninsula, Foot brildge, Water fall trail, Lily pond, Tai-chi terrace, Bamboo grove, Water feature pond

HDB resale flat prices hit new high in Q3

SINGAPORE: Prices of HDB resale flats in Singapore rose to record highs in the third quarter, according to data released on Friday.

The latest data from the Housing and Development Board (HDB) showed that the Resale Price Index rose 3.6 per cent in the third quarter over the previous quarter to 145.2 points.

This has raised concern among some potential homebuyers, who fear that prices may continue to rise.

The last time the HDB resale market saw such high transaction volumes was more than four years ago, in the fourth quarter of 2004. Back then, 11,562 changed hands, compared to the 11,649 seen in the third quarter ended September this year.

ERA Real Estate said the typical quarterly HDB resale volume ranges from 6,000 to 8,000 units at most.

Eugene Lim, associate director, ERA Asia Pacific, said: "We have seen the HDB resale volume jump to above 10,000 for second quarter and above 11,600 for the third quarter this year.

"The third quarter is a very good month for HDB resale. It's likely to taper off partly because cash over valuation, due to increased demand, has increased.

"HDB homebuyers are a price sensitive lot. So it will probably hit a resistance level. And in that sense we will expect resale volume to taper downwards in the last quarter."

Mr Lim also said that the slowing resale transactions will see 4th quarter prices increase at a slower rate, by about 2 to 3 per cent.

HDB homebuyers and sellers said they are concerned about the increase in prices, and are studying the market closely before making any buying or selling decisions.

"I just need to survey whether I and my girl can save up some money when we get married, whether we can share the burden to buy the house," said Freddy Samsi, a potential homebuyer.

A private homeowner, John Bosco said: "I don't think we're really out of the economy, out of the woods yet. And yet housing prices have gone up to a level which I think will not sustain. I'm not sure if the government pegging it to resale is a good idea, because they should keep their own prices."

He said that property and housing are close to people's hearts and HDB should make things affordable for people. "Paying S$600,000 for a HDB flat is... obscene actually," he added.

However, Mr Teo LT, a homeowner, said that he would prefer prices to be high. "I've already bought mine, so I want the price to be stable at the price I bought, and not dip immediately," he added.

Going forward, analysts said they expect activity in the HDB market to maintain at current levels as the economy recovers.

Meanwhile, private home prices were similarly buoyant - up 15.8 per cent in the third quarter, compared to the second quarter. This is a sharp turnaround from the 4.7-per-cent fall seen in the second quarter, and snaps four straight quarters of decline.

- CNA/sc
By Ng Baoying, Channel NewsAsia
Posted: 24 October 2009 0003 hrs

Private home prices up 15.8% in Q3; HDB resale prices up 3.6%

SINGAPORE: Private home prices rose 15.8 per cent in the third quarter compared to the second quarter - slightly lower than the initial forecast of a 15.9-per-cent rise made by the Urban and Redevelopment Authority (URA) in early October.

The rise in prices between July and September is a sharp turnaround from the 4.7-per-cent fall seen in the second quarter, and snaps four straight quarters of decline.

According to the URA, non-landed private homes in the city fringe areas saw the highest increase in prices of 18.5 per cent in the third quarter, while the prime districts saw private home prices rising 15.2 per cent. In the rest of Singapore, private home prices climbed 16.1 per cent.

In the second quarter, all three regions had seen a decline in private home prices of between 2 and 5 per cent.

Meanwhile, property prices for office, shop and industrial properties decreased by between 1.2 and 2.1 per cent.

Rentals of private residential, office, shop and industrial properties also fell, with the decline ranging from 0.9 to 4.1 per cent.

URA said that the fall of rental rates for all property types in the third quarter moderated compared to the second quarter.

Meanwhile, prices of HDB resale flats rose 3.6 per cent in the third quarter. Resale transactions increased by about 14 per cent from the second quarter to 11,649 cases.

The Housing & Development Board (HDB) said the median Cash-Over-Valuation (COV) amount among all resale transactions has risen to S$12,000. It said in tandem with this trend, cases transacting above valuation has also increased to 79 per cent.

HDB said that in the next two months, the public can look forward to another 4,000 Build-to-Order flats in Punggol, Bukit Panjang, Sembawang and Dawson.

Together with other sale exercises, as well as flats offered under the Design, Build and Sell Scheme, the total flat supply for 2009 would be about 13,500 units.

HDB said it is monitoring demand and would adjust its building plan accordingly to ensure an adequate supply of new flats.

- CNA/sc
By Irene Chan, Channel NewsAsia
Posted: 23 October 2009 1842 hrs

Number of HDB blocks eligible for lift upgrading up from 2001

SINGAPORE: The number of public housing blocks eligible for lift upgrading has gone up.

When the lift upgrading programme (LUP) started in 2001, 5,300 blocks did not have full lift access. Of these, 1,000 did not qualify due to the high cost of upgrading. But now, that number has dropped to 200.

Eligible blocks are those where the cost of fitting lifts on every floor, averages a maximum of S$30,000 per unit.

But due to the layout of some blocks, average costs could range from S$40,000 to over S$120,000.

That is about 40 per cent of the value of a three- to four-room flat and the Ministry of National Development said it does not make sense to have upgrading works there.

However, housing authorities have made upgrading cheaper over the years by building smaller lifts for low-rise blocks and adopting new types of lift landings.

They said the S$30,000 cap will remain even if there may be a high number of elderly residents in the blocks.

Senior Minister of State for National Development, Grace Fu, said: "At this moment, we do not have any plans to extend LUP at any cost so it has to be limited to certain cost considerations.

"But we are looking for solutions. We hope that we're able to bring solutions to some of these blocks."

- CNA/vm
By Hoe Yeen Nie, Channel NewsAsia
Posted: 19 October 2009 1712 hrs

5I Premium Punggol HDB Blk 165A for Sale

5I @ Punggol Central for Sale
Blk 165A 115sqm Mid Floor
Corner, Renovated, Quiet, No Noon Sun
Accessible by TPE , PIE, etc.
Valuation $on the way Asking $view to offer.

5I Punggol HDB Blk 201D for Sale

5I @ Punggol Field for Sale
Blk 201D 110sqm Low Floor
Corner, Renovated, Quiet
Accessible by TPE , PIE, etc.
Valuation $on the way Asking $view to offer.

Laguna Park owners to consider selling at lower price

SINGAPORE : Owners of units in Laguna Park, whose tender closed unsuccessfully on Friday, are now considering selling at a lower price.

The new price is said to be between S$950 million and S$1 billion.

The development's marketing agent Credo said residents are likely to receive letters advising on the situation in the next two or three days.

Earlier, many property analysts said Laguna Park's initial S$1.2 billion reserve price was on the high side.

Residents of Marine Parade's Laguna Park streamed out of the gates at about 4.30pm on Sunday afternoon, after a 2.5-hour meeting to discuss the fate of the collective sale of the development.

Despite two bids being made when the tender closed last Tuesday, no buyer managed to put down a payment to seal the S$1.2 billion deal.

At that price, each owner would have received between S$2.1 million and S$2.3 million.

Residents MediaCorp approached all refused to come on camera, but off camera, it seems their views are mixed. While some are agreeable to accepting a lower price, other said they would rather wait for the market to pick up again before relaunching the collective sales process.

Some noted that while those present at the meeting were split into two camps, the entire meeting went by cordially.

They attributed this to the people management skills of the sales committee.

The question now is whether the sales committee will manage to garner the crucial 80 per cent consent level from its owners, with the lower price tag.

The sales committee has until December 19 to close a deal before the collective sale agreement expires.

If there is no deal by then, the entire collective sales process will have to be restarted again.

One local company, whose shareholders are based in Indonesia, more than matched the reserve price, at S$1.7billion.

But Credo said that by last Thursday evening, the firm decided to pull out because it could not get its bankers to provide the funds for the bid.

Credo said the second expression of interest came from a prominent local developer. MediaCorp understands the developer is now expected to further negotiate with the majority owners before settling on a firm price.

- CNA/ms
By Ng Baoying, Channel NewsAsia
Posted: 18 October 2009 2014 hrs

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

SINGAPORE: Two Build-To-Order (BTO) housing projects were launched on 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.

An interested buyer said: "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."

Prices range from S$129,000 to S$163,000 for a three-room flat, and S$214,000 to S$262,000 for a four-room flat in Sengkang. A five-room flat costs between S$282,000 and S$340,000.

Over in Jurong West, home buyers can choose from 705 units at Boon Lay Meadows. Prices range from S$86,000 to S$103,000 for a two-room flat, and S$138,000 to S$173,000 for a three-room unit. A four-room flat is priced between S$223,000 and S$266,000.

Industry players said they expect high demand for both projects, with Jurong West being the more popular of the two.

Mohd Ismail, chief executive officer at PropNex Realty said: "These 1,200 BTO standard flats that have been launched on Friday is very welcoming news because this will give certainty in terms of owning the property come next three to four years.

"Unlike the other completed flats, BTO flats have got better opportunities for someone to be successful... even looking at the pricing, I think it is attractively priced.

"Jurong West, a relatively mature estate, will again have strong demand, especially from a lot of new families who want to stay closer to their parents. Probably, we can expect a stronger demand from Jurong West than Sengkang."

HDB said that most households will not need to use cash to meet their monthly mortgage payments based on the income of flat applicants in the first half of this year.

First-time buyers of these two new projects are expected to use between 18 and 24 per cent of their monthly household income to meet their monthly loan commitments.

The BTO flats are part of the supply of 5,000 new flats announced by National Development Minister Mah Bow Tan earlier this month.

Applications for these two BTO projects end on October 29.

- 938 LIVE/yb
Posted: 16 October 2009 2223 hrs

Sales of uncompleted private homes fall 36.6% in September

SINGAPORE : Sales of uncompleted private homes took another dip in September, the second month of decline, after hitting a record high in July where 2,772 units were sold.

A total of 1,143 units were sold last month, a 36.6 per cent drop from August. Market watchers said this level of activity is more sustainable going forward.

5,719 units were sold in the third quarter alone, more than the whole of last year. But activity has tapered off since, and observers said it is unlikely to test the record sales of 2,772 units in July going forward.

Analysts said that is partly due to the government's anti-speculative measures that have kept speculators away.

At the same time, some developers have also delayed new launches during the Lunar seventh month period, which is a traditionally a low season for the property market.

Market watchers said the pent-up demand seen in the last two quarters has fizzled out. And for the last three months of the year, they expect private home sales to range between 800 and 1,000 units a month.

The development that sold the highest number of units last month was Hundred Trees at West Coast. 327 out of the 350 units launched in the project were sold at a median price of S$941 per square foot.

The Interlace at Alexandra Road also saw strong sales, with 243 units sold at a median price of S$1,047 per square foot.

Only 99 high-end homes, priced above S$1,500 per square foot, were sold in September. The number was a sharp drop from the 421 that were sold in August.

Analysts said properties selling at S$1,000 per square foot and under may do better for now, but next year could see more upmarket launches.

Donald Han, managing director of Cushman & Wakefield, said: "We are going to see us being placed as a cheaper alternative for some (investors) to put their investment dollar into Singapore.

"With the opening of the integrated resort, with more high net worth investors coming to Singapore, we think the higher mid-end, right up to the luxury segment of the residential market, would probably see better reception."

Observers expect home prices to rise about 5 per cent in the fourth quarter, after a strong run-up in the last three months. Home prices in the third quarter rose sharply, by 15.9 per cent.

"Now with the brightening economic outlook, buying momentum could still be sustained as buyers are now more confident of their ability to service their housing loan in light of greater job security," said Grace Ng, deputy MD of Agency & Business Services, Colliers International

Nearly 13,000 new homes were sold in the past 9 months. And experts project total sales volume for the year to exceed the record 14,811 transacted in 2007.

- CNA /ls
By Yasmine Yahya & Wong Siew Ying, Channel NewsAsia
Posted: 15 October 2009 1652 hrs

Mandatory accreditation for real estate agents could be introduced soon

SINGAPORE: Accrediting all real estate agents and setting up a tribunal to handle disputes are some of the proposals which could be introduced soon to help improve the standard of the real estate industry.

The suggestions came after the Ministry of National Development consulted industry players from September 10 to October 1.

From October 13, the public can give their feedback on the proposed regulatory framework for the real estate industry via this website The public consultation exercise will take one month.

The number of complaints against real estate agents has gone up recently. Last year saw over 1,400 complaints while six years ago there were only 400.

To beef up the professionalism of the real estate sector, the government plans to introduce some changes.

The proposals include setting up an independent body to ensure compulsory accreditation for all property agents, introducing a demerit point system to penalise errant agents and agencies, and having a public central registry which lists agents' qualifications, employment history and track record.

Eugene Lim, associate director, ERA Asia Pacific, said: "We do encounter agents which are double or triple agents - that means at one time they're agents with not only one company but sometimes with two or even three companies. So with a central registry system, we'll be able to stop this.

"And those that are double and triple agents, we'll be able to know who they are and these people will be taken out from the industry. Also another industry problem that this central registry can help to solve is checking on agents' past performance."

Industry players have welcomed the idea of a tribunal to handle disputes.

Jeff Foo, president, Institute of Estate Agents, said: "However, the people who are going to be sitting on the tribunal has to be people on the ground, who know about real estate transactions and subject matter experts.

"You can't simply put somebody there to mediate, to solve problems if the person doesn't really understand the nuts and bolts of the real estate industry."

But there is something which industry players hope the government will consider and that is licensing individual agents.

Mr Lim added: "Licensing seems to be more serious, something which the individual agents would be more careful of because now they carry an individual licence and if they don't meet the service standards or if they don't perform or if they do something wrong, then their licence may be suspended and they may not be allowed to practice."

For a start, the framework is likely to focus on residential property transactions because that's where the bulk of complaints come from. If need be, the government said the framework will be broadened to include other real estate transactions like commercial properties.

The government said the key elements of the framework will be announced as early as December this year and the legislation should kick in by the middle of next year.

- CNA/vm
By May Wong, Channel NewsAsia
Posted: 12 October 2009 1815 hrs

Aljunied GRC residents to get better sports facilities

SINGAPORE: Residents of Hougang in Aljunied GRC will soon get better sports facilities under the Neighbourhood Renewal Programme.

The S$4.9 million project will see a range of amenities to be built, including a sports park for soccer, skateboarding and other outdoor activities. There will also be a community garden and a common area where residents can hold functions.

Other improvement works include covered linkways and drop-off porches.

The facilities will serve about 1,444 households from 14 housing blocks at Hougang Avenue 6.

The cost of the project will be borne by the government and grassroots leaders are getting feedback from residents from October 11 to 13.

A proposal will be ready for residents to vote on early 2010, and approval is required from at least three-quarters of them for it to go ahead.

The public consultation exercise was launched on Sunday by Minister for Foreign Affairs and MP for Aljunied GRC, George Yeo.

- CNA/sc
By Hoe Yeen Nie, Channel NewsAsia
Posted: 12 October 2009 0018 hrs

5I Tampines HDB Blk 725 for Sale

5I @ Tampines Street 71 for Sale
Blk 725 126sqm Low Floor
Corner, Simple, Quiet, No Noon Sun
Accessible by TPE , PIE, etc.
Valuation $on the way Asking $view to offer.

3NG Tampines HDB Blk 251 for Sale

3NG Corner @ Tampines Street 21 for Sale
Blk 251 82sqm Low Floor
Corner, Simple, Quiet, No Noon Sun
Near Tampines MRT, Malls, Schools,
Accessible by TPE , PIE, etc.
Valuation $on the way Asking $view to offer.

5I Simei HDB Blk 153 for Sale

5I @ Simei Street 1 for Sale
Blk 153 122sqm Mid Floor
Nice Layout , Beautifully renovated, Quiet, No Noon Sun
Near Simei MRT, East Point Shopping Malls,
Accessible by TPE , PIE, etc.
Valuation $on the way Asking $view to offer.

Total land sales revenue drops 41% to S$7.3b in FY2008-2009

SINGAPORE: Revenue from government land sales fell 41 per cent to S$7.3 billion in the last fiscal year ended March 2009.

But analysts said despite the decline for the full year, land prices have actually risen 30 per cent in the past six months and there are some concerns that this could lead to another property bubble.

Showflats have been packing in the crowds for many months now. Demand for land has also picked up, with more plots released for tender since April this year.

Analysts expect demand for land to grow in 2010 on the back of more positive market sentiment and developers looking to beef up their land bank.

In the first quarter next year, observers said the government could release more strategic sites at Jurong Lake District, Kallang Waterfront and Rochor/Ophir Road.

And when the government brings back the Confirmed List of sites in the first half of next year, more land will be on the market.

According to market watchers, the net effect is that revenues from such sales are likely to stay around S$7 billion in the current fiscal year to March 2010, similar to last year. Observers said increasing land prices will also boost revenues.

Recently, a residential site at Serangoon Avenue 3 was sold for S$221 million.

Donald Han, managing director, Cushman & Wakefield, said: "I was a bit surprised at the bidding for Serangoon. I think the top bid was 10 to 11 per cent higher than the second bidder.

"One would expect more cautious bidding in view of the current market and stock market conditions have started to come down. But I think by and large, it is a vouch of confidence in the Singapore residential market."
Some analysts said more measures may be needed to rein in the property market.

Colin Tan, director, Head of Research & Consultancy, Chesterton Suntec International, said: "I think the set of measures they announced recently were to curb speculation but this excess liquidity is not speculation. It is investment, so this is lots of money trying to find a more productive use. So maybe a different set of measures may need to combat this excess liquidity."

Observers said the situation should also be closely watched to ensure excess supply does not build up.

- CNA/vm
By Yasmine Yahya/ Wong Siew Ying, Channel NewsAsia
Posted: 08 October 2009 1446 hrs

Eight more projects under BTO system to be launched by year-end

SINGAPORE: The Housing and Development Board (HDB) will launch another eight "build-to order" (BTO) projects for flats by the end of this year.

These projects will be launched in Sengkang and Jurong West this month, two projects in Punggol next month and four projects in Dawson, Bukit Panjang and Sembawang in December.

National Development Minister Mah Bow Tan, who viewed one of the selection exercises at the HDB Hub on Wednesday, has assured Singaporeans that the supply of new flats under the BTO programme is more than adequate to meet the needs of younger couples.

He said that these flats are affordably priced and are good quality housing.

According to HDB, under the BTO system, the success rate for first timers who select their flat within the first try is 80 per cent, and within two tries is 96 per cent.

However, some applicants have complained that they have not been able to get a flat after many attempts.

Mr Mah said: "Every time we get such emails, we check - is it true? Why is it that after 12 times he still didn't get a flat. It is ridiculous, surely something is wrong with the system.

"So I have asked HDB to check and the sad part of it is - a lot of the times this is not entirely truthful. It's not a matter of them not getting the flat, it's a matter of getting it and not selecting it for one reason or the other.

"I would go further to say that if you (are) genuinely in (need of a flat) and you have not been able to succeed after three or four times, I'm prepared to look at it and find out what is going on."

Just this year alone, some 2,400 first time applicants were invited to select flats under the BTO system. However, HDB said that some 45 per cent of these applicants did not book a flat.

Mr Mah said: "You just have to make sure that they don't jeopardise the chances of others, and that's the reason why we put them at the back of the queue. So if you are in greater need of a flat - you are getting married, you don't mind any of these flats - I will let you choose first.

"(There are) those who have a less urgent need or actually have a place to stay, but are just trying their luck and are hoping that they get a good balloting number and a flat of their choice. In fact, many of those who reject say their preferred flat has been taken up. In such cases, we cannot cater for them."

Other reasons cited for not taking up BTO flats include flat buyers reconsidering other housing options or that the completion dates for the projects were too long.

HDB's advice to flat buyers is to plan ahead for the purchase and also know the trade-offs between wanting a flat in a mature or non-mature estate. Flat buyers have also been urged to be realistic and exercise prudence, and buy a flat they can afford.

- CNA/yb
By S Ramesh, Channel NewsAsia
Posted: 07 October 2009 1806 hrs

Seven Palms Sentosa Cove units sold at record prices

SINGAPORE : Mainboard-listed high-end property developer, SC Global, said on Wednesday it has sold six units of its project at Sentosa for record prices.

The units of its Seven Palms Sentosa Cove development were sold at an average price of about S$11 million per residence, with prices ranging between S$3,100 and S$3,400 per square foot.

These are higher than the previous peak of about S$2,734 per square foot for a condominium unit at Sentosa Cove.

SC Global said it released about 10 units of the 41 available in the first phase of its sales through private previews.

Located at the southern-most end of Sentosa Cove, the development stands on an area of about 114,000 square feet.

The four-storey development features three, four and five bedroom units ranging from about 2,700 to 6,800 square feet.

Penthouse units are on the 4th storey and come complete with a private roof terrace, a 10-metre lap pool, and views of the sea, the beach lagoon and the Sentosa golf course. The penthouses range from 4,000 to 8,000 square feet in size.

- CNA/al
By Channelnewsasia.com
Posted: 07 October 2009 2010 hrs

Executive Apartment Seng Kang HDB Blk 316C for Sale

Executive Apartment @ Anchorvale Link for Sale
Blk 316C 125sqm
Nice Layout , Beautifully renovated
Cozy, Quiet, Corner, 4bedrooms
Near Seng Kang MRT, Malls,
Accessible by TPE , KPE  etc.
Valuation $on the way Asking $45k.

4A Seng Kang HDB Blk 247 for Sale

4A2 @ Compassvale Road for Sale
Blk 247 85sqm High Floor
Nice Layout , Beautifully renovated, Quiet, Choice Location
Near Seng Kang MRT, Malls,
Accessible by TPE , KPE , etc.
Valuation $on the way Asking $360k.

5I Seng Kang HDB Blk 299B for Sale

5I @ Compassvale Street for Sale
Blk 299B 115sqm High Floor
Nice Layout , Beautifully renovated
Cozy, Quiet, Corner
Near Comassvale LRT, one stop from Seng Kang MRT, Malls,
Accessible by TPE , KPE , etc.
Valuation $on the way Asking $430k.

5I Punggol HDB Blk 171C for Sale

5I Edgedale Plains for Sale
Blk 171C 110sqm High Floor
Renovated, Cozy, Nice Layout.
Near Coral Edge LRT.
Accessible by TPE , KPE , etc.
Valuation $on the way Asking $60k nett.

4A Punggol HDB Blk 204C for Sale

4A @ Punggol Field for Sale
Blk 204C 90sqm High Floor
Nice Layout , Beautifully renovated
Cozy, Quiet, Corner
Near Punggol MRT, future Malls,
Accessible by TPE , KPE , etc.
Valuation $on the way Asking $35k.

Residents from Jalan Rumah Tinggi benefit from lift upgrading

SINGAPORE: Some 600 residents living in Jalan Rumah Tinggi, in the Tanjong Pagar GRC, are benefiting from the Lift Upgrading Programme. Two blocks of 4 and 5-room flats, which are more than 20 years old, have been fitted with new lifts that stop on every floor.

Officiating at the completion ceremony of the Lift Upgrading Programme on Saturday was Member of Parliament for Tanjong Pagar GRC and Minister Mentor Lee Kuan Yew, who was mobbed by residents eager for a handshake and a picture.

One lucky family, the Yaps, even had a visit from Mr Lee himself. The household will be co-paying about S$300 for the lift upgrading after subsidies from the government and town council.

The family said it is money well spent for the ease of movement, especially when they have young kids and an elderly.

Walter Yap said: "If not, we would have to carry the prams up and down the stairs. My mum is already in her 60s, so it's good for her too."

Flats built by the Housing and Development Board (HDB) before the 1990s did not have lifts stopping at every level because of demands for privacy.

However, due to the growing elderly population and in order to meet the needs of the disabled, HDB introduced the Lift Upgrading Programme in 2001 to give barrier-free access to residents.

- CNA/so
By Imelda Saad, Channel NewsAsia
Posted: 03 October 2009 2139 hrs

Integration of Kallang River area and Bishan Park in 2011

SINGAPORE: The Kallang River area bordering Bishan Park will be widened and converted into a meandering river to integrate with the park in 2011.

The move is all part of the PUB's ABC Waters Programme for 'Active, Beautiful, Clean Waters'.

Under the programme, the Kallang River will be developed and serve as an attraction where recreational and communal bonding activities can take place.

Besides transforming the Kallang River, the programme will also see the addition of a River Promenade for events and three new playgrounds.

- CNA/de
By Lynda Hong, Channel NewsAsia
Posted: 02 October 2009 0042 hrs

Private home prices rise 16% in Q3 flash estimates

SINGAPORE : Singapore private property prices in the third quarter saw the steepest quarter-on-quarter increase since 1981.

The Urban Redevelopment Authority's (URA) flash estimates showed private home prices rose 15.9 per cent in the third quarter - a sharp turnaround from the 4.7 per cent fall in the second quarter, and snapping four straight quarters of decline.

Overall, prices are back to where they were at the start of the year. And analysts said the data affirms the generally positive mood among buyers.

Brisk home sales in recent months, especially for units above S$2,000 per square foot, have seen overall prices recording their highest turnaround on record, since the data was first collected in 1975.

Analysts said it is mainly sentiment that is driving higher the demand and price increases.

Elaborating on the factors, Donald Han, managing director, Cushman & Wakefield, said: "In general, the feel good factor, the convergence of a few positive factors, particularly the stock market turnaround - we saw the green shoots come out from some economic indicators.

"Globally, we did not see any fallout of any major financial institutions. No bad news, is good news. Plus, on top of that, very low interest rates, conducive for bank borrowings."

Homes in locations just outside the central region saw the highest price increase, at 19.1 per cent. Analysts said this is because most of the new launches were near major activity spots and train stations, which command price premiums.

In the core central region, prices went up 16.2 per cent, while prices climbed the least in the suburbs, up 15.4 per cent.

Going forward, analysts said price growth is unlikely to be sustained, in part because the full impact of government measures announced earlier this quarter will be felt in the fourth quarter.

Mr Han said: "If you've asked me the same question one, two months ago, I think the price increase of 15 per cent on a per quarter basis is unrealistic. To expect the momentum to go through 15 per cent, double-digit, I think that is not realistic as well because that is out of pace with economic growth."

He noted that the global economy is only just beginning to pull itself out of a recession.

Meanwhile, public housing prices are also at a high. The Housing and Development Board's Resale Price Index registered an all-time high in the third quarter.

According to flash estimates, the index is now at 144.7, which means resale flats cost nearly 45 per cent more than a decade ago.

- CNA/yb/ms
By Ng Baoying, Channel NewsAsia
Posted: 01 October 2009 1441 hrs

7,000 HDB flats to be made available in next three months

SINGAPORE : The Housing and Development Board (HDB) will release 7,000 new flats in the next three months, to cope with strong market demand.

This is more than that offered in the first nine months of the year.

From now to December, the HDB will launch 5,000 new flats for sale under its Build-to-Order (BTO) scheme.

These will be in both new and mature towns, including 1,700 units in Dawson estate in Queenstown.

The Dawson developments will be part of the HDB's Remaking Our Heartlands programme.

This is the second time this year that authorities are bumping up the supply of new flats, and the move should please some first-time homebuyers.

In July, National Development Minister Mah Bow Tan announced that the HDB will build 8,000 flats this year, up from the original target of 6,000. But speaking to reporters on Thursday, he said continued strong demand from homebuyers in July and August has prompted his ministry to revise its target upwards once more.

One homebuyer said: "We have been searching for a flat for more than one year already....now (that) HDB is getting more flats, I think it is better, because we can stand a better chance."

Eugene Lim, associate director, ERA Asia Pacific, said: "The HDB is also responding to market feedback in the sense that there were concerns amongst many people that, 'you are releasing new flats but they are all in the same location....so where else are you releasing new flats?'"

The move comes as resale prices for HDB flats hit an all-time high.

HDB flash estimates for the Resale Price Index for the third quarter of 2009 placed the figure at 144.7, based on 1998 prices.

Although higher resale prices are unlikely to affect the demand for new HDB homes as that market is mostly closed off to resale buyers, analysts caution that new HDB units could see higher prices as a result.

This is because the HDB prices new flats based on resale prices for similar units nearby. However how much increase homebuyers will see depends on the location of the new BTO projects.

The government said prices are monitored closely, but buyers have to lower their expectations too.

HDB figures also show that average prices for new flats under the BTO programme range from S$150,000 for a three-room unit, to S$330,000 for a five-room flat. The average household income for applicants of five-room flats is S$4,800, which HDB says is well within the S$8,000 ceiling for first-timer subsidies.

Mr Mah said: "A flat that is in a place of their choice, a specific flat is not affordable, that I grant. But there are other flats that are affordable. So the question is, can the government assure people that a flat of your choice is available, that is the difficult part."

Another option for homebuyers is to consider what is known as balance flats.

Previously, all unsold new flats would be regularly offered to the market in separate sittings depending on the flat type. Now however, they would be sold under one combined exercise, and only when HDB has accumulated enough to sell.

As many of these flats are located in popular areas, one may expect demand to be very high. But authorities said that nine in 10 would be reserved for first-time buyers.

But some feel that the flats would not be good enough.

One homebuyer said: "As a first-time homebuyer, I won't look at balance flats, because they are (on) low floors, bad location. That is why they are leftovers which people did not want in the first place."

A total of 2,132 units will be on offer in October.

- CNA/yb/ms
By Hoe Yeen Nie, Channel NewsAsia
Posted: 01 October 2009 1253 hrs

Private home sales in S'pore this year could be more than 14,800 units

SINGAPORE: Property consultant DTZ said sales of private homes here this year are likely to be higher than the record of 14,800 units sold in 2007.

In a report, DTZ said there was a "frenzied" level of activity seen in the third quarter of this year. That led to a record number of more than 2,700 homes sold in July.

DTZ is forecasting that the record of some 5,100 units sold in the second quarter of 2007 will be surpassed in the current quarter on the back of the strong momentum.

It added that the average private home prices continued on the uptrend in the third quarter this year.

In addition, DTZ said rental values found some stability in the third quarter after four consecutive quarters of decline.

For the rest of the year, DTZ said sales volume in the private residential market is likely to ease due to fewer projects in the pipeline.

Recent measures by the government to cool the market, like the removal of the interest absorption scheme, may dampen sales too.

- 938LIVE/vm
By Irene Chan, 938LIVE
Posted: 29 September 2009 2154 hrs

Industry suggests licensing of property agents

SINGAPORE: Just like drivers, some suggest property agents should be licensed by a government body - and subject to a demerit point system too.

That would mean being allowed to a set number of points, before facing possible suspension for misconduct.

Such ideas were floated by industry players yesterday at a forum organised by the Institute of Estate Agents (IEA), as the Ministry of National Development (MND) began this month its consultation process on a new regulatory framework for the real estate sector.

Complaints of agents' poor service are rising and customers are now more discerning and demanding, so such regulations will be necessary to keep the standards of the profession up to mark, said IEA president Jeff Foo.

National Development Minister Mah Bow Tan had said in March that the whole system was "not satisfactory" and the status quo "not tenable", after several cases of unethical practices by housing agents came to light.

The framework, suggested HSR International Realtors chief executive officer Patrick Liew, should include mandating minimum hours of training and certification to improve professionalism.

An official mediation and complaints resolution centre - sorely lacking now - should also be set up, he said at the forum.

According to the Consumers Association of Singapore, of the 1,100 complaints received last year about the real estate industry, more than half (635) concerned agents.

About 500 complaints have been made as of July this year, and the eventual total is expected to match or exceed last year's.

But while licensing and certification would help to give consumers peace of mind, a demerit point system has its limitations in weeding out rogue agents, said PropNex property consultant Joseph Tan.

"They can still do unethical things so long as they don't hit the limit for demerit points," he said.

There was also a concern about possible additional costs that might come with licensing, said IEA's Mr Foo. But going by fees paid elsewhere, for example, about HK$700 (S$128) a year in Hong Kong, the "average agent" should have no problems paying, he said.

Property consultant and Ngee Ann Polytechnic real estate lecturer Nicholas Mak said regulations will need to be closely enforced for them to have bite.

"And the punishment has to be sufficient ... If someone stands to gain S$100,000 by misrepresenting a property, and the punishment is only a S$5,000 fine, then he might consider it a risk worth taking," he said.

- TODAY/sc
By Lin Yan Qin, TODAY
Posted: 29 September 2009 0738 hrs

4I Queenstown for Sale Blk 15

4I Ghim Moh Road for Sale
Blk 15 82sqm High Flr
Unblocked Renovated
Near to Schools, Malls, MRT,
Value not done, view to offer.