https://www.edgeprop.sg/property-new...ve-sale-36-mil
With the latest absd change, will these en bloc still happen?
Newbie
https://www.edgeprop.sg/property-new...ve-sale-36-mil
With the latest absd change, will these en bloc still happen?
Senior
I think you got the answer just want to confirm.Originally Posted by ccreporter
1. The Developer will not bite because they closing shop, go back to do farming.
2. Buyer will not buy because they got money love to park in the Bank to collect interest.
3. Property got no future, it will become cheaper because the price of the property waiting for MTB to buy.
4. HDB people will keep because it is their home, money cannot buy Home.
Still got a lot cannot think now because just back drinking.
Life is great when you control it.
Newbie
prime location plots that are of reasonable size (not too large) will still attract bids. I'm pretty sure this sale will go well.
Let's see, shall we?
reporter
Casa Sophia launched for collective sale at $36 mil
By Bong Xin Ying / EdgeProp
July 9, 2018
Casa Sophia, a freehold development along Sophia Road, is up for collective sale at a reserve price of $36 million. This translates into a land rate of about $1,390 psf per plot ratio.
All of the owners have agreed to the sale, and each owner stands to receive between $2.69 million and $3.4 million, according to marketing agent ERA Realty Network.
Developments in Mount Sophia are attractive to investors due to its prime location at District 9 (Credit: ERA Realty)
The 12-unit development sits on 12,327.9 sq ft of land and consists of only three-bedroom units measuring 1,152 to 1,453 sq ft each.
Under the Master Plan 2014, the site is zoned “residential” with a gross plot ratio of 2.1. It can be rebuilt into an estimated 34 units at 753 sq ft per unit.
Located in District 9, Casa Sophia is 350 metres away from Dhoby Ghaut MRT station. It is also near reputable educational institutions such as Saint Margaret’s Primary School, Nanyang Academy of Fine Arts, LASALLE College of the Arts, School of the Arts Singapore and Singapore Management University.
The tender will close on August 14.
Senior
$36 million. for 34 units at 753 sq ft per unit. $1,390 psf per plot ratio
2000 psf = 34x753x2000 = 51,204,000
2500 psf = 34x753x2500 = 64,005,000
3000 psf = 34x753x3000 = 76,806,000
With effect from 4 Nov 2012
Maximum number of DUs per development ≤
MP Allowable GPR(Excludes bonus GFA) x Site Area / 70 sqm (753sqft)
https://www.ura.gov.sg/-/media/User%...2-13.pdf?la=en
Last edited by Arcachon; 10-07-18 at 07:46.
Junior
To some extent, the government is to blame for the en bloc craze. Interest rates are kept so low allowing the developers to borrow at low costs to buy up the land. While one year fixed deposits pay 2 to 3% per year in other countries, the comparable rates in Singapore are still only 0.5%.
On the demand side, Singaporeans are not getting any return for their deposits in the banks, no returns at all for their investments in the stock market. That is why they keep looking to the property market for a decent return.
To stop the real estate bubble from inflating, the government needs to find ways for Singaporeans to get decent returns for their hard earned dollars.
Senior
Do you have any suggestion how to raise interest rate if you are given the permission to print money.
Junior
That is it. Stop printing so much money. Let interest rates rise as they have in other countries.
Senior
We can't, the World can't. Europe try but they also fail.
Those who print and keep interest high they depreciate their value.
Junior
You are not making sense. If you print money, interest rates will decline. If you want interest rates to go higher, you should stop printing money.
Senior
They print the money but did not print the interest, so can money supply be reduce without printing the interest.
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