In Singapore, purchasing a public housing flat requires one to login to the HDB portal and submit their purchases online. Through the HDB portal, purchasers and sellers are then being allocated the first and second appointments at the HDB to complete the buying and selling procedure. Recently, HDB launched its new technology of transformation that has revolutionized the marketing procedures.
The owners of City Towers, a freehold condo that is located on the Bukit Timah Road, had to face three unsuccessful collective sales for their property so far. But, they are perseverant, continuing to pursue their goal, by launching another collective sale for this particular property, the fourth of this kind. If anyone is interested in the City Towers, then this person must know that the owners set a reserve price that reaches $355 million. How will this sale go? Well, we will just have to wait and see.
The construction for this development ended in the 60s, currently providing a total of 77 relatively spacious units, consisting of maisonettes and apartments alike, plus a penthouse and a unit designated for a shop. The Colliers International Group Inc., which is the company that is in charge with the marketing of this property, promoting it for the collective sale, stated that the reserve price actually contains a charge for development as well, of $3.505 million, so that the future owner of the property will be able to take the most of out the land’s use. According to the managing director of the company, Mr. Tang Wei Leng, City Towers is a property that has a great potential while coming at a great price, considering that property prices have dropped with approximately 20% since 2013 and are about to go up in the years that follow. Thus, if anyone would like to invest in District 10, now it’s the best time to do it.
Australia is one of those countries where the home prices were on the rise for a very long time. Apparently that’s not the case anymore. In fact, it seems that home buyers have a delight, as the national property prices fell with around 0.3% in the entire country during the month of December. This does signal that there are some challenges to overcome on the market, but it’s safe to say that more and more people are afraid of this situation.
Sidney and Darwin in particular had a major problem, as both cities had a 0.9% decline when compared to the previous month. Sidney in particular ended up having prices 2.4% smaller when compared to the last quarter, so there are some issues there.
Economist announced that Singapore’s economic growth rose approximately 3.1% over the last three months of 2017. Then, thanks to the growth in manufacturing, it rose slightly more though overall growth has been quite slow. This slight growth was higher than anticipated but lower than the quarter before at 5%. The growth rate was in accordance with findings by the MTI (Ministry of Trade & Industry).
The Prime Minister stated that Singapore’s 3.5% was double what was originally forecasted due to the increase in global growth. Although both manufacturing and construction have moved to a crawl, it is estimated that Singapore’s growth is through the service sector which is expected to continue in 2018. The external service sectors are growing faster than domestic services such as business growth.
A new residential plot (development is named Whistler Grand) will soon be released for tender by the Urban Redevelopment Authority (URA). The plot is located along West Coast Valve and is just adjacent to the previous new launch condo, Parc Riviera.
Located along West Coast Valve, this land parcel is standing within a high-rise private residential enclave, Other than the upcoming Parc Riveria, it is also surrounded by private condominiums such as The Clement Canopy (new launch condo), Botannia, Infinity and etc.
Recently the Singapore Government has released 2 land plots for bidding, so the private developers can start working on them. These include the SengKang Central (Next to Buangkok MRT station) and the Hillview Rise one. The two sites are brought in the confirmed list for the second half of 2017.
The land parcel at Hillview Rise has a site area of 14296 sq m, so it’s quite large and definitely among some of the best out there. The residential gross floor area is around 40030 sq m. The project is set to add around 535 housing units in total, so it really is a large project.
Urban Redevelopment Authority (URA) is now offering excellent opportunities for development in Buangkok. This northeastern area of Singapore offers convenient access to many recreational sites and exceptional room for future growth.
URA has a great vision for this area, turning it into a one-stop locale that will be readily connected to major hubs including the Seletar Aerospace Park and the Punggol Digital District. Both of these facilities are presently in the works. The plan also proposes a future child care center, community club, and the Hawker Center. The entire designing process is focusing on easy accessibility for private residents and public enterprises.
Located at the intersection of Sengkang Central and Compassvale Bow, the planning area is conveniently next door to the Buangkok MRT Stations and bus service.
Community Gatherings & Events:
With the combination of so many amenities and retail outlets, this location will be a prototype for the larger Buangkok neighbourhood The blueprints will provide public areas that are easily accessed by the bus service and offer people an excellent area for gathering and having social events.
The redevelopment of this area will be designed to meet the requirements of its residents while emphasizing the plans for the larger Buangkok area. The larger Buangkok area presently offers both private and public residences including Compassvale Helm, Esparina Residences, Atrina, Jewel @ Buangkok, and Aspella to name a few.
Public & Residential Friendly:
The completed project will offer streets designed for pedestrians to create a comfortable and exciting street-life environment, cycling, walking, and excellent transportation to and fro. The private residential units will be nearby the MRT Station and Bus Interchange for residences to easily travel to other areas of Singapore.
Architecture Takes On The Tropics:
Singapore is a tropical environment and the developers believe this should be incorporated into the design throughout the community and transportation. This project will emphasize Singapore’s rich background of its natural tropical climate.
How Proposals Are Awarded To The Highest Bidder:
Under the Concept and Price Revenue system, contractors must submit their proposals and pricing separately in different envelopes. Their proposals must layout the contractor’s development plans and will then be evaluated on the following requirements:
• The Overall Quality of Their Designs
• The Overall Quality of the Public Area
• The Contractor’s Track Record
Further information regarding the details of the concept and price revenue can be found under Part VII of the Technical Conditions of Tender.
The committee for the proposals will evaluate the plans against the criteria. Proposals that satisfy the committee and are accepted will be posted by the CEC (Concept Evaluation Committee). The process will then began again through their second phase.
The second phase covers the price proposals for acceptable plans are then taken into consideration. Once these two phases are completed, the site will then be awarded to the highest bidder.
URA is presently offering an exceptional opportunity for developers to embark on a brand new concept for residential and public facilities. Buangkok could be a flagship for other communities in the very near future.
New launches in other part of Singapore