me think :): Jan 29, 2010

Friday, January 29, 2010

DIR 685

MRT Circle Line phase 2 opening set to push property prices up: estate agents

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A train station on the Circle Line

SINGAPORE: The opening of the second phase of the Circle Line MRT in April is definitely something to look forward to for residents living nearby. But those looking to sell or rent their homes are set to benefit as well.

Property agents said the opening of the 11 new stations along the Circle Line is likely to push property prices up.

Agents MediaCorp spoke to estimate home prices will increase by 10 per cent while office rents will go up by 20 per cent.

They said estates like Serangoon, Bishan and Paya Lebar have a lot of market potential while units in industrial estates are also expected to be in high demand.

Eddy Ng, division director, ERA Real Estate, said: "Most of the workers are taking public transport, it can be very accessible for them, if there's an MRT line that leads them back home after work."

- CNA/vm

- wong chee tat :)

HDB's BTO projects 5 times oversubscribed

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HDB flats

SINGAPORE: The Housing and Development Board's (HDB's) first two Build-to-Order (BTO) projects launched for the year are receiving very favourable responses.

A few hours before the close of applications at 2359hrs on Monday, the 1,291 units being offered at Limbang Green in Choa Chu Kang and Buangkok Vale were more than five times oversubscribed.

The four-room flats were the most popular.

The 188 four-room units in Limbang Green received nearly 2,700 applications, and 458 units in Buangkok Vale received 2608 applications - six times more than units available.

Those who cannot wait are turning to resale flats, and housing analysts said resale prices are likely to remain high because it is a seller's market right now.

- CNA/sc

- wong chee tat :)