Month: November 2021

Thomson View Condominium has recently launched a public tender for collective sale at a preset cost of $950 million. This decision was taken after the company secured an 80% mandate from owners within just six months, even after the ongoing Covid-19 related disruptions.

This is possibly the largest collective sale for residential apartments this year, where the asking price comes out to be the land rate per plot ratio of $1293/sq ft. Note that the land rate for the famous Thomson View Condominium includes an additional seven percent gross floor area specifically for private outdoor spaces. It leads to a differential premium of an estimated $296 million targeted for intensification with an upgrading premium of around $324 million that is available with a 99-year lease policy.

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After a huge loss in the economy due to the covid-19 pandemic, the business sector is now recovering with the effective vaccination drive. Several countries have now started easing lockdown measures, and border movements have also started. As people have started settling into new normal, the rental market for private apartments and Housing Board apartments in Singapore are experiencing great attention from buyers.

As per the flash data received from the Singapore real estate market, the rents, as well as leasing volumes for condominium units and HDB flats, increased by a considerable level in the month of October as compared to September. On the other side, the monthly rents for Singapore condos also increased by 1.3 percent in the previous month as it was 0.7% higher than September.

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The majority of Singaporeans support the removal of Housing Board (HDB) priority schemes over flats available in prime locations. At the same time, they expect limiting buyers in the open market to ensure affordability and accessibility to public housing.

As per the report released by the Ministry of National Development, most Singaporeans feel that homeowners must be restricted to renting out the entire HDB flat after completion of a five-year minimum occupation period (MOP).

Almost 7500 Singaporeans were accessed to receive feedback on how to maintain prime location HDB flats, such as Greater Southern Waterfront and City Center, inclusive. The public engagement on gathering suggestions and feedback on the situation ended in the previous month.

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The recent reports from the Singapore housing market reveal that future Housing Board (HDB) flats, build in some prime and central locations, will be now subjected to a minimum occupation period (MOP) of 10 years. At the same time, the government is planning to claw back the additional subsidies on these flats on resale.

Desmond Lee, National Development Minister, in a recent interview announced that MOP and subsidies are the main contributing factor for new central location housing models. If they are managed well, they can keep HDB flats inclusive and affordable as well.

The first most Built-to-Order project listed under this project will be situated in Rochor and it is expected to be launched in the coming month.
The resale conditions of these flats will be much restricted while allowing a purchase to people who earn less than $14,000 per month. Moreover, at least one applicant among a pool of resale buyers must be a citizen of Singapore.

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The Urban Redevelopment Authority (URA) of Singapore are expecting to get a good number of bids from the developers for the tender they have launched on Thursday, October 21^st, for the residential site in Dairy Farm Walk.

The Dairy Firm Walk is located near the junction of Upper Bukit Timah Road and Dairy Farm Road, a 10-minute walk from Hillview MRT station and next to German European School. It is also closed to Beauty World, Hillview Avenue, Bukit Panjang Shopping Mall and Bukit Tomah Shopping Centres. It’s a quiet enclave close to nature with complete condominium facilities. Dairy Farm Estate is a 20-minute drive to the Central Business District. It is having a area of 15,633 sq m, a gross floor area of 32,893 sq m which can accommodate around 385 units.

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Planning to buy a private home in Singapore? Check for the prices as it is on rise since quarter three as much as by 1.1%. Though the pandemic situation brought economic crisis all over the world, but that is not really affecting the real estate business in Singapore. The prices of landed properties, private homes are on rise since the last quarter. According to Urban Redevelopment Authority (URA) there was 0.8 per cent rise in second quarter and now in third quarter it is 1.1 per cent, which is definitely on the higher side. Normally in a year the rise is about 7.5 per cent but in this year the rise has already reached 5.3 per cent.

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