2 residential sites released for sale

2 residential sites released for sale

    By Chitra Kumar
    POSTED: 31 Oct 2013 20:59

Two residential sites have been released for sale under the Government Land Sales Programme for the second half of this year.

SINGAPORE: Two residential sites have been released for sale under the Government Land Sales Programme for the second half of this year.

The two sites at Westwood Avenue and Lorong Lew Lian can yield about 980 homes.

The Westwood Avenue site in Jurong West is in close proximity to the Pan Island Expressway and near Jalan Bahar. It is for sale under the Confirmed List.

The site is earmarked for executive condominium (EC) development and some analysts said they expect to see strong interest from developers.

Nicholas Mak, executive director of research and consultancy at SLP International Property Consultants, said: "In the current market, there is a very strong demand for executive condominiums among home buyers. Hence I believe this site will attract much attention from developers.

"With the whole list of cooling measures as well as the TDSR (Total Debt Servicing Ratio) framework, some upgraders and home buyers are actually preferring to buy executive condominiums over mass market condominiums because they are able to get larger housing loans if they were to select a EC."

The second site put up for sale is at Lorong Lew Lian, near Upper Serangoon Road and Upper Paya Lebar Road. It is for sale under the Reserve List.

- CNA/fa

- wong chee tat :)