Govt releases 5 more sites for private homes

[mr funny]

http://www.businesstimes.com.sg/sub/latest/story/0,4574,401930,00.html?

August 31, 2010, 12.25 pm (Singapore time)

URA releases 4 residential sites for sale

By BERNICE BONG


SINGAPORE - The government has put a site at Petir Road up for sale under the confirmed list of the government land sales programme.

On top of this, it has made three plots on the reserve list at Alexandra Road, Tanah Merah Kechil Road and West Coast Link/West Coast Crescent available for application.

The Urban Redevelopment Authority (URA) released details of the sites on Tuesday.

The 99-year leasehold plot at Petir Road is 2.3 hectares and can be developed into a condominium project or flats.

The site has a maximum permissible gross floor area (GFA) of 514,116 sq ft, potentially yielding 430 units.

The land parcel, in the west region of Singapore, will enjoy easy access to other parts of the island as it is located near the future Hillview and Cashew Mass Rapid Transit (MRT) Stations, which are part of the future Downtown Line 2.

The tender for the Petir Road site will close at 12 noon on Oct 7 2010.

Over at Alexandra Road, interested developers can start submitting applications for a 99-year leasehold 1.0 ha site.

It has a maximum GFA of 524,934 sq ft and can accommodate an estimated 490 units.

Situated within an established residential estate in the central region, the site is also just a short walk away from Redhill MRT Station.

The 1.4 ha 99-year leasehold land parcel at Tanah Merah Kechil Road has a maximum GFA of 421,902 sq ft and can accommodate an estimated 470 units. It is close to the Tanah Merah MRT Interchange Station.

At the junction of West Coast Link and West Coast Crescent, the the 1.3 ha 99-year leasehold land parcel has a maximun GFA of 381,526 sq ft and can potentially yield about 360 housing units.

HDB

Besides the four URA sites, the HDB has also made available a residential site at the junction of Elias Road and Pasir Ris Drive 3 for application for sale on the reserve list on Tuesday.

The 251,348 sq ft site is for strata landed housing or condominium/flat development.

The 99-year leasehold land parcel has a maximum GFA of 351,887 sq ft and can accomodate an estimated 295 flats.

Together, the five residential sites can potentially yield about 2,045 housing units.

[azeoprop]

The tanah merah one will be interesting....another Optima in the making. :D

[sleek]

But its on Reserved List and don't know how much to trigger the sale! :beats-me-man:


The tanah merah one will be interesting....another Optima in the making. :D

[Geylang OKT]

Sg govt is very determined this time to make prices fall :D :D :D

[hyenergix]

We will probably see a buffet of new launches together with the unsold & returned units next year. If the government promises 2.5 years for BTO projects, then in 2013 there will be a glut of new HDBs and condos. Quite dangerous to buy a condo at current price now.

[mr funny]

http://www.businesstimes.com.sg/sub/news/story/0,4574,401983,00.html?

Published September 1, 2010

Govt releases 5 more sites for private homes

By UMA SHANKARI


ANOTHER five private housing sites - which could yield a total of 2,045 private homes - were released for sale by the State yesterday.

One of the land parcels, at Petir Road, was launched for sale under the Government's Confirmed List. The four other sites - one each at Alexandra Road, Tanah Merah Kechil Road, the junction of West Coast Link and West Coast Crescent, and the junction of Pasir Ris Drive 3 and Elias Road - are available for application for sale under the Reserve List of the Government Land Sales (GLS) programme for the second half of 2010.

Under the Reserve List system, an interested developer can submit an application for a site with a minimum offer price.

If the price is deemed acceptable, the State will then put up the site for sale by tender.

The land parcels are 'well distributed in various locations across the island to provide developers and home-buyers with more choices', said government agencies Urban Redevelopment Authority (URA) and Housing & Development Board (HDB), which are handling the site sales.

The Petir Road plot has a site area of about 2.3 ha, and a maximum permissible gross floor area of about 514,000 sq ft. Around 430 units can potentially be built on it.

Based on an eventual average selling price of $800 per square foot (psf), the bids could be in the range of $350-$400 psf per plot ratio, said DTZ's head of South-east Asia research Chua Chor Hoon.

But it is likely that developers will not be too bullish about the future selling price and so could bid lower.

She added: 'Arising from the property market measures, developers will be more selective (about) the sites, so we are likely to see fewer bidders for each site, and they will be less aggressive in their bids.'

The tender for the site will close at noon on Oct 7.

The government has made available sites that can yield about 13,900 private housing units - of which about 8,100 units will be from sites on the Confirmed List - in its GLS programme for the second half of the year.

This marks the highest potential supply in the history of the twice-yearly GLS programme.

And on Monday, the Ministry of National Development (MND) announced new measures to cool the private and public housing markets. It added that it will inject an even larger supply of private housing in the first half 2011 GLS programme if demand continues to be strong.

MND also announced demand side measures to cool the private housing market.

Among other changes, those who hold an existing mortgage can now only borrow up to 70 per cent of a property's value for the second home, down from 80 per cent previously. They must also pay 10 per cent in cash, up from 5 per cent.