Housing Market of Hongkong ranked least affordable

Hong Kong’s Housing market continues to be the most expensive for a record nine years in a row, reveal the annual survey conducted by Demographia, an urban planning policy consultancy. Demographia has been conducting this survey for the last 15 years with an aim to assist global economic planning. The survey seeks to highlight its core premise that smart planning can create successful cities wherein high demographic and economic growth can be achieved without abnormal housing inflation.

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Inflation in Singapore

In December 2018, Singapore’s overall inflation index rose to 0.5 per cent. The jump registered barely a month after the index had fallen to a six-month low of 0.3 per cent.

The rise in inflation rates occurred due to the inflation of prices for most services and retail goods. The country’s core inflation rose to 1.9 per cent in December. This was higher than the 1.7 per cent registered in November.

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Enbloc of Former Florence Regency

Located along Hougang avenue 2 in between the Kovan and Hougang Estate, the Florence regency was sold to Logan Property at a price of six-hundred and twenty nine million dollars towards the end of 2017. After topping up lease of the development to a 99 year tenure, the selling price of the entire land translates to $842 psf ppr (per square foot per plot ratio).

 

The reserved price of the development was set at six-hundred million dollars initially. Logan Property agreed to purchase the land at a much higher price. And each owner of the former Florence Regency will get to receive slightly above $1.8 million from the sales.

 

Florence Regency is a former HUDC and its plot area is approximately 386,000 square feet. Due to its huge land size, developer is able to build more than 1000 residential apartments within it.

 

Florence Regency will be launched in February 2019, and this project will be named as The Florence Residences. There will be 9 tower of 18 storeys and a total of 1410 residential apartments within The Florence Residences. One to Five bedroom choices will be available.

 

 

 

To find about more about the collective sales of Florence Regency, visit our link below,

https://www.straitstimes.com/business/property/florence-regency-closes-collective-sale-for-629m

Tampines

Located within the East Region of Singapore, with the Singapore Straits on its southern border, Changi and Pasir Ris to the east and north respectively and Bedok and Paya Lebar to its west, Tampines is the name of both the planning area and the residential new town. The town – at 2089 hectares – is both the third largest and third most populated new town on the island.

Artist's Impression of Tampines North from HDB
Artist’s Impression of Tampines North (Source : HDB)

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