31ha of Forested Areas to Have 10,000 New Homes in Bedok

Almost 31ha of forested land in Bedok is expected to receive clearance by the end of 2029 to have a Bayshore Housing development that is expected to be ready by the middle of 2030. As per the recent environmental assessment report from Housing Board, the target areas have conservation value ranging from minor to moderate – mainly due to the lesser number of species with conservation, species with richness, and enhanced dominance of flora with non-native significance.

The reports reveal that the areas targeted for clearance are listed among the last substantial forests from eastern Singapore. Moreover, the construction activities in this area are expected to leave some irreversible effects, mainly due to the considerable loss of bird species and plants.

DHI Water & Environment consultancy conducted a study that included baseline surveys from April 25 to July 21 in the year 2022. It covered approximately 31.4 ha of a total development site of 60 ha which is equivalent to 84 football fields. This complete construction site is linked to Upper East Coast Road in the north direction; however, the south side is connected to East Coast Parkway. The areas that are not studied in this survey include some highly vegetated sites that are now cleared for leading MRT station-related construction activities.

The forested land of almost 31ha is expected to be cleared for the Bayshore area housing project and the residents here will be served by two main MRT stations in the coming years. The recent environmental survey was conducted to understand the impact of upcoming developments along with mitigation measures.

Read more

Strong Demand for HDB Rental Properties in Singapore Ensures Landlord’s Market


After the recent cooling measures applied in the Singapore housing market, the rental prices for private apartments & housing board flats have grown fast and the scenario indicates strong pressure on the rental market during the coming months. Studies reveal that HDB rental properties have climbed by almost 3.2% during the month of September which is comparatively higher than 2.4% rise reported in August. This report is presented with reference to both non-mature as well as mature estates in the Singapore housing area.
Read more

HDB Monitoring if Cooling Measures Impacts Prices of Smaller and 4-Room Resale Flats


The prices for smaller as well as four-room housing board resale flats are to be monitored by experts if any hike is observed after cooling measures. This is due to the fact that some aspiring analysts and home buyers have expressed major concern related to the curbs posed on the owner’s private properties may further moderate the demands for larger HDB resale flats & five-room apartments. These scenarios may increase demands and as a result, the prices for smaller resale flats and four-room apartments may also increase.


Right from September 30th, the owners of private properties need to wait for almost 15 months after the sale of their current home to buy a non-subsidized resale flat at the Housing Board. However, owners that have crossed the age gap of 55 and above may move from private accommodations to smaller resale flats or four-room flats. If we consider the wait-out period of 15 months, when there is a temporary measure with moderate demand, it is important to recognize that there are more seniors that need to look for retirement adequacy. With this, it is important to provide them avenues and options for the right size condos and four-room apartments or smaller HDB flats that may serve their needs better.


Mr. Lee, National Development Minister, also stated that a large number of owners from private properties are now looking forward to buying HDB resale flats and this count has doubled within the last two years. This scenario has a direct impact on the property cycle, especially when they try to sell private properties while moving to the HDB resale market as in this situation they can pay higher cash to close the deals fast.

Read more

With a 7% Jump for Suburban Condos, Private Home Prices Rise by 3.4% in Q3

 

Right after the launch of some new condominiums in Singapore suburbs, there has been a strong demand for these residential units which further contributed to a considerable price hike. Reports reveal that the prices of private homes are rising high consistently up to this third quarter of the year.

In comparison to the previous months, there has been an estimated rise of 3.4% in the prices of private homes; however, it is slightly down from the 3.5% mark of the second quarter. This growth in the prices was mainly triggered by some non-landed segments in the area where prices went up to 4.1% in comparison to 3.6% in the previous quarter and this growth has been observed even after the rise in mortgage rates in banking institutions.

Read more

With Tighter Housing Loans, Private Home Owners Need to Wait for 15 Months to Buy HDB Flats

Recent news updates reveal that the Singapore government will now restrict the maximum amount that new homeowners can borrow, so that the borrowers may find it easier to service these loans.

The market scenarios show a consistent rise in the interest rates after cooling measures and it is likely to increase further. Therefore, authorities are now taking several essential measures to ensure that home buyers can borrow within the limit and it will further help to moderate demand for new homes in the market.

Read more

GuocoLand’s Lentor Modern Condo 84% Sold On Launch Weekend

Lentor Modern, one of the most popular projects with an private residential integrated development from GuocoLand has experienced a great weekend after launch. Reports reveal that this property has a total of 605 apartments out of which 508 apartments were sold straight away on the first weekend, which makes up 84% of the total condos available.

 

This site is designed with an mixed-development that is integrated with that is to be designed on the Lentor Hills area with an estimated price of $1856 psf to $2538 psf. The initial launch prices for these units started somewhere from $1.07M for the one-bedroom apartment of 527 sq ft; however, the estimated price for four bedroom apartment with a 1528 sq ft dimension is presented at $3.33 million.

Read more

Reopening in Singapore Fuels Hike in Land Betterment Charge Rates

The rates for land betterment charges (LBC) in Singapore have been considerably raised for commercial, residential, and industrial needs. Among all, the rates for non-landed residential properties are experiencing the highest rise due to robust property market conditions in Singapore. It is further influenced by healthy bids for collective sale sites and state-owned lands. The developers are paying LBC which further replaced the need for development charges and this scenario is improving the utilization of available sites while opening doors to create bigger projects on them.

Read more

Chinese Developers Experiencing Range of Winding-up Lawsuits

In China, creditors are knocking on the doors of legal offices to demand payments from embattled Chinese property firms. This is highlighting a major turmoil in the property sector. The developers are now rushing to set up plans to resolve the debt issues and the impact can be seen in the real estate industry.

 

Some of the most recent cases in court were filed against Jiayuan International Group and Sunac China Holdings. Note that these are the two big names among at least six builders that have received plenty of winding-up petitions within the past few months in the Cayman Islands and Hong Kong. Moreover, China Evergrande Group, Jiayuan, and Sunac have also scheduled their hearings for November month.

Read more

75% of Units at Sky [email protected] Sold Right After Launch Event

More than 70% of all Sky [email protected] condominiums got sold on the launch day itself with an average price per dquare feet of of $2,100. This mixed development at Bedok Town Center is the first residential project in the last 10 years; it has a total of 158 units out of which 118 units were sold recently on Wednesday. The developers in a recent interview revealed that all 2-bedroom units at this site were completed sold.

The acting COO (chief operating officer), Ms. Lorraine Shiow at Fraser Property recently said that this development is close to the mature estate and this is the main reason why it is drawing maximum attention from buyers. The home buyers at this location will be able to access several thriving economic hubs nearby this location; it includes Paya Lebar and Changi. These sites are expected to undergo a major renovation in the coming years; as a result, this Singapore East site will become more popular for buyers in the future.

This leasehold property which comprises of a 99 years lease is made up of 2 to 4-bedroom units with dimensions starting from a 657 sq ft all the way to 1302 sq ft. The development is also planned to have the construction of 12 shops on the ground floor. Note that the units at this site are being sold at a $1937 psf price which leads to a pricing of S$1.31 million for two bedroom unit. Lee Sze Teck, Senior Director of Huttons Asia recently said that most of the buyers at this site belong to Singapore.

Read more

Singapore New Private Home Sales Bounce Back in July with Restrained Demand for Suburban Condos

The restrained demand for private Singapore condos in suburban regions improved in the month of July recently. The overall sales lifted median prices at new mass market residential units to a considerable level, mainly at city fringe and prime locations.

This is mainly useful for the AMO Residence sales in Ang Mo Kio Avenue 1, which is the only major residential launch in the previous month in the suburban regions. It is expected to lead to a bulk sale of 485 units or 58.2% of the new homes in the region. Residential spaces in main districts led to 22.2% sales, including 185 units; however, the city fringe on the other side experienced a rise of 19.7% with the sale of 165 units.

Read more

Freehold Residential land near Bukit Batok Nature Park Available for Sale at $42m

The freehold residential site near Bukit Batok Nature Park is available for sale via a public tender with a guide price of US $42 million. There is a single-story car workshop which is designed with a 3-story annex building at this site. The building is currently provided on lease to Autobacs Singapore which is a famous automobile service and retail company from Japan.

 


Experts reveal that the parcel is held by one private investment corporation with owners specializing in retail and auto leasing services. Note that a 37575 sq ft site is recently zoned for the residential purpose at 30 Bukit Batok East Avenue 6 Site. This announcement was made as per the 2019 Master Plan with a permitted plot ratio of 1.4. Furthermore, the maximum allowed gross floor area inclusive of the bonus balcony at this site is 56,287 sq ft.
The guide price works well with the land rate of $1,127 per sq ft per plot ratio. This price range is inclusive of the bonus balcony as mentioned and development charges are payable. As per the approval from the respective authorities, the site at Beauty World MRT Stations and Bukit Batok can result in a total of 57 new units for residential needs.

Read more

Singapore Commercial Property Deals Battle Regional Slowdown with Best Quarter Ever

As per the recent reports from Singapore commercial real estate market, the country is experiencing the best ever returns from recent quarter sales. Just within the previous three months, the deal volume increased by 74% while touching the maximum value of $7.72 billion. This is a great record for the single quarter when institutional investors made a grand entry into the market.

 

MSCU stated that the previous drop was caused by the sharp decay in individual property trades that turned out to be somewhere around the US $33.1 billion. Whereas the average for the year 2021 was reported to be the US $40 billion per quarter. They also revealed that Singapore turned out to be a star during second-quarter sales in the Asia Pacific region. The majority of sales happened in apartments, hotels, industrial, retail, office, and senior housing properties. The Singapore property demands were very high where Central Business District offices attracted the majority of investments; however, hotels and shopping centers performed really well.

 

Read more

HDB and Condo Rents Rise in July with Firm Demands

Rental prices of private apartments and housing board flats increased by a considerable level in the previous month. Property analysts state that the trend is expected to continue for a longer time ahead because completed housing projects are not enough to serve market demands.


HDB rents in the month of July climbed at a low pace of 1.5%; however, it was only 2.3% in the month of June. Presently, rents for both non-mature and mature real estate markets are rising. Condominium rents in the area rose by 1.7% in the previous month, which is 2.1% higher when compared to the previous month. This scenario reports straight growth of 19th month for condo rents with 25th concerning HDB rents, which appears longest ever streak for both these markets in Singapore.

Read more

New Private Home Slump in June As Developers Hold off New Launches

As the new launch condos were introduced into the market during the school holidays of June month, it is also leading to increased interest rates in the future. Around 488 residential units, without including executive condominiums, were sold during the month of June and this count is much less compared to 1355 units sold in the previous month. The reports state that it was the lowest sale record since May 2020 when showrooms were affected by a circuit breaker.

Read more

HDB Resale Prices Increased Continuously for the 24th Month in June

A recent real estate market report from Singapore reveals that prices for resale flats in the HDB market increased continuously for the 24th month. However, fewer units were sold by June as the large proportion of flats in non-mature estates are being sold these days.


The prices of HDB resale flats increased by 1.2% in the previous month and it shows a quicker pace in comparison to 0.5% in May month. However, if we compare the data with June month of the previous year, the prices went up by almost 11.4%. Read more