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Subscribe to this list via RSS Blog posts tagged in URA

The Urban Redevelopment Authority (URA) has released three sites for sale under the 2nd Half 2015 (2H2015) Government Land Sales (GLS) Programme.

A mixed development site at Alexandra View under the Confirmed List, and a private site at Jalan Kandis under the Reserve List were dispatched available to be purchased on 30 September. Both destinations can yield roughly 515 private units.

Taken from iProperty

Tagged in: private units URA
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Recent rules implemented by the URA dictate developers ensure their showflats are accurate representations of units up for sale before they open them for viewing.

This will apply to all showflats built after 20th July, 2015. As per URA, spot checks will be directed by the Controller of Housing to guarantee engineers comply with the standards.

Ventures first to be influenced by the new guidelines incorporate Criterion EC and Signature@Yishun.

Engineers of The Criterion official townhouse (EC) at Yishun have fused measures, for example, names determining position and thickness of uprooted dividers, and records including materials, completions and fittings.

As indicated by the URA, designers who neglect to consent to new principles can have their licenses suspended or disavowed. They may additionally be fined up to S$5,000, face a prison term of close to 6 months, or both.

Taken from iProperty

Tagged in: EC property URA
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The Urban Redevelopment Authority (URA) has accepted an application from a developer to put the residential site at Lorong Lew Lian up for sale by public tender, based on the acceptable bid price committed.

The land parcel was available for sale on URA's Reserve List and the designer who presented the application for the site has resolved to offer in any event S$250,000,000 in the delicate for the area package.

While the base value focused on the site is uncovered, the candidate's personality stays secret after conventions of the Reserve List framework.

General society delicate for the site will be propelled by URA in the following month, with the precise dispatch date to be affirmed.

The delicate period for the area bundle will last between four to six weeks. The area zone is roughly 1.4ha, and the private site has a greatest reasonable gross floor region of 42,005 m2.

Taken from iProperty

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Fairhaven, situated at Sophia Road in District 9, is up for aggregate deal by open delicate. More than 80 for each penny of the proprietors gave agree to the offer of the 15-unit private advancement.

The proprietors are taking a gander at offers above S$45 million for the freehold advancement that accompanies a surmised area region of 16,660 square feet.

Considering the ten for each penny reward overhang, this would mean about S$1,169 per square foot per plot proportion.

Jones Lang Lasalle's (JLL) National Director of Capital Markets, Ms Yong Choon Fah, recommended for potential purchasers to consider developing littler flats.

This is to benefit from the site's focal zone area, where private units are not confined by new least size rules forced by the Urban Redevelopment Authority (URA).

Fairhaven is the first advancement site to be set available to be purchased in the region since URA discharged a Mount Sophia site in 2013 that drew a reasonable number of offers.

Ms Yong anticipates that the site will draw in proprietor occupiers, financial specialists and families with school-going kids.

Fairhaven's vicinity to instructive groups and the Dhoby Ghaut exchange station are further offering focuses. Open delicate for Fairhaven closes on 1 July 2015 at 3pm.

Taken from iProperty

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The Urban Redevelopment Authority (URA) released data on 16 February exhibiting that arrangements for private houses extended in January 2015, however stayed lower when appeared differently in relation to January 2014.

The amount of private cabin units sold by creators went up by 62 each penny, from 230 units in December 2014, to 372 units a month prior.

This is a direct result of designers moving 415 units in January 2015, a monstrous form diverged from the 53 units moved in the prior month. Offers of new private homes declined by 35 each penny year-on-year in January 2015.

Ms Christine Li, Director and Head of Research at Cushman and Wakefield, said, "With the typical fulfillment of 21,359 private units, excepting authority condo suites, in 2015, and moreover the approaching premium rate move by the second half of the year, headwinds are robust for the private market as supply overpowers ask for in the near to medium term."

Bargains volume may get after the Chinese New Year period as buyers start to hotspot for homes after the festivals.

In a late report, OrangeTee communicated that "various architects have held down new dispatches and somewhat got a kick out of the chance to strategise for a dispatch after February."

Upcoming new dispatches, for instance, Sims Urban Oasis, Kingsford Waterbay, Botanique At Bartley and North Park Residences.

Taken from ST Property

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Mr Lim Eng Hwee, Chief Planner and Deputy Executive Officer of the Urban Redevelopment Authority (URA), chatted with Channel NewsAsia about URA's courses of action and attempts to further decentralize business activities and business concentrates a long way from the city.

He recorded the Tampines regional center and Changi Business Park as a twin focus point to focus on noteworthy business and business works out, which would benefit from Changi Airport's improvement.

Mr Lim moreover discussed URA's long term getting prepared for land use change, for instance, the port hardening in Tuas, to free up space in Keppel and Pasir Panjang.

In the gathering, Mr Lim in like manner portrayed out Singapore's plans to develop underground space to make an "insignificant city".

Taken from ST Property

Tagged in: URA
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Analysts interviewed by Bloomberg said that it has turned into a tenant’s market. URA data shows that vacancy rates for private residential homes increased from 4.6 per cent in March 2010 to 7.1 per cent in Q3 2014, while Colliers auction data indicated a year-on-year rise in the number of auctioned apartments and houses, from 32 units to 159 units.

Mr Alan Cheong, Singapore-based Director at Savills plc, told Bloomberg that apartment vacancies may hit ten per cent by end-2015, significant considering vacancies rate peaked at 9.7 per cent during the 1998 Asian crisis.

With vacancy rates rising, tenants are having the upper hand when negotiating with landlords. Mr Sam King, a 29-year-old sales director at an aviation services company, has been renting a two-bedroom penthouse in Singapore for six years.

His rental was reduced by ten per cent for the first time in late 2014. He told Bloomberg that "It has turned into a tenant's market".

Taken from ST Property

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The URA and the HDB release a joint articulation on 6 January to react to open worries around a columbarium to be constructed inside a proposed sanctuary at Fernvale Link in Sengkang.

The orgs guaranteed the occupants of the encompassing Build-to-Order (BTO) ventures and official townhouse (EC) improvement that the sanctuary will "incorporate well with the encompassing advancements, the same way other existing spots of love have been coordinated in numerous private domains".

They included that the plot of land had been zoned as a "position of love" as per the URA Master Plan since 2003 and a greater part of spots of love spotted islandwide incorporate columbarium offices.

The URA Master Plan gives data on future land use, however property investigators remarked to Channel Newsasia that numerous home purchasers don't know how to get to and utilize the data.

However Mr Eugene Lim, Key Executive Officer at ERA Realty told Channel Newsasia that a certain level of uncertainty stays considerably in the wake of exploring the Master Plan, "… the Master Plan just lets you know about zoning and the thickness.

You won't realize what really is going to be fabricated until the delicate determinations are set up by the URA or HDB." A disclaimer showing the potential consideration of a columbarium was said to have been incorporated in the Fernvale Lea BTO development brochure.

Taken from ST Property

Tagged in: EC hdb property URA
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Opportunity rates of authority townhouses (EC) are pounding without end's most imperative in more than five years, as an outcome of a storm of new EC units in the property market.

As demonstrated by the Urban Redevelopment Authority (URA), the rate of vacant EC units has expanded from 12.2 each penny to 16.2 each penny in Q3 2014.

Moreover, the HDB resale business is chilling off with HDB resale trades declining from 25,094 in 2012, to 18,100 in 2013 and 12,683 as of Q3 2014 as showed by latest HDB estimations.

Furthermore, private condominiums have moreover seen a 1.4 each penny augment in unfilled units, with 21,569 units void in Q3 2014 – up from 21,268 in Q2 2014.

In any case, the private opening rate stays unaltered for Q3 at 7.1 each penny quarter on quarter after five successive quarters of augmentation since Q2 2013, according to the Savills Residential Leasing Briefing.

The amount of EC finishes is anticipated to be 2,845 in 2015, while 20,244 non-landed private units are in the pipeline for 2015.

Taken from ST Property

Tagged in: EC property prices URA
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The Urban Redevelopment Authority (URA) impelled an open fragile for a land bundle at the crossing point of Payar Lebar and Sims Avenue – a mixed usage site involving office, retail and private livelihoods.

In conjunction with URA's decentralization framework, the change of business gatherings outside the central range will make occupation opportunities closer to homes, as needs be lessening blockage and transportation time for associations found outside the Central Business District (CBD).

Paya Lebar Central is required to be an 'element business center's with pretty almost 165,000 sqm of awful floor domain (GFA), of which 90,000 sqm will be apportioned as office space and the remaining space would be available for distinctive uses – "additional office, retail, incitement, sustenance & drink (F&b) and private businesses".

The land group embodies a 99-year lease period and is orchestrated near to the Paya Lebar Interchange and MRT station, and additionally other guaranteeing new progressions in Paya Lebar - Paya Lebar Square, shopping plaza One KM and the Workforce Development Agency's new Lifelong Learning Institute.

The openness to the MRT station and closeness to the CBD has pulled in a tremendous level of fashioner venture. Desmond Sim, Research Head in CBRE Southeast Asia, commented to Channel Newsasia, "It is a significantly anticipated plot as it is yet a substitute wander in the governing body's plan to give a suitable alternative to the CBD business area, helping occupiers direct costs and bring occupations closer to homes." The fragile period will be about 22 weeks, and will close on 31 March 2015.

Taken from ST Property

Tagged in: property URA
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The Urban Redevelopment Authority (URA) has revealed in its latest expect that the private cabin business has recovered essentialness, imitating moderate gameplans in August. According to URA, 648 units (notwithstanding Ecs) were sold in September, showing a change from August where 437 units were sold.

Mr. Nicholas Mak, Executive Director for SLP International noted to TODAY that the recovery was not startling, and it doesn't recommend that the business division will continue seeing augmentations. "The cooling measures, particularly the TDSR (Total Debt Servicing Ratio), will continue pressuing the business.

The figures say everything – we haven't seen trade cross the 1,000-unit level so far not long from now, except for in May," said Mr. Mak. On the resale business part, gleam reviews by Singapore Real Estate Exchange (SRX) demonstrate that private resale expenses have dropped by 0.3 each penny from August to September.

The falling expenses were controlled by a 2.1 each penny reduce in expenses in the Outside Central Region (OCR), while expenses have expanded in the Core Central Region (CCR) and Rest of Central Region (RCR) by 0.9 each penny and 2.9 each penny uninhibitedly.

Resale trade volumes have in like route improved, with 465 executed non-landed private homes in September, a 15.3 each penny increase from August. Also, the SRX worth record intimated a 14 each penny reduce in private rental volume for September 2014, from 3,668 units to 3,171 non-landed private units.

Notwithstanding, year-on-year, rental volumes for private homes have expanded by 8.7 each penny in relationship with September 2013. General rental expenses have fallen by 0.2 each penny from August to September. Rents fell by 0.6 each penny and 0.9 each penny openly for units in RCR and OCR, while rents expanded by 0.3 each penny in the CCR.

CBRE Research noted in its Q3 2014 Singapore Market View report that the normal size of non-landed private homes has declined by 41.5 each penny since 2007, from 1,270 square foot (sq ft) to 753 square foot sq ft in Q1-Q3 2014. The common cost every one square foot (psf) for non-landed private properties has expanded over the same period by 31.2 percent to S$1,275 psf.

As exhibited by the report, an examination of urgings held up for non-landed new gameplans from 2007 to H1 2014 shows that 50 to 70 each penny of the new units sold were reviewed underneath S$1.25 million. The most exciting worth band for private home buyers was amidst S$750,000 and S$1 million.

CBRE has passed on that coordinators are changing according to the changing monetary circumstances by making units of tinier affiliations, to meet the quality edge for fiscally urged home buyers, staying sensible yet paramount.

It was in like way seen that 50 to 70 each penny of these buyers were HDB occupiers whom were either HDB upgraders, singles or new couples checking for new homes. CBRE envisions that humbler homes will continue being the favored game plan for both powers and home buyers.

 

Taken from ST Property

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