Showing posts with label Forestville. Show all posts
Showing posts with label Forestville. Show all posts
Monday, April 21, 2014
Thursday, August 15, 2013
New private home sales plunge 73% on-month in July
New private home sales plunge 73% on-month in July
By Wong Siew Ying
POSTED: 15 Aug 2013 1:12 PM
Sales of new private homes in Singapore plunged in July. Figures from the Urban Redevelopment Authority show that just 481 units of new homes were sold last month, down 73 percent from June. 1,806 units were sold in June.
SINGAPORE: Sales of new private homes in Singapore plunged in July.
Figures from the Urban Redevelopment Authority show that just 481 units of new homes were sold last month, down 73 percent from June. 1,806 units were sold in June.
Market watchers had anticipated the sharp drop in sales transactions on the back of new loan curbs introduced on 29 June and the lack of new major project launches in July.
The top-selling project during the month was Vue 8 Residence in Pasir Ris, which moved 63 units, followed by Bartley Ridge at Mount Vernon Road with 25 units sold.
Including executive condominiums (ECs), 593 new homes were sold in July, down from 2,119 units transacted in the previous month.
The best-selling EC project was Forestville at Woodlands, which sold 78 new units.
Developers launched a total of 557 new units last month, compared to 2,421 units placed for sale in June.
- CNA/xq
- wong chee tat :)
By Wong Siew Ying
POSTED: 15 Aug 2013 1:12 PM
Sales of new private homes in Singapore plunged in July. Figures from the Urban Redevelopment Authority show that just 481 units of new homes were sold last month, down 73 percent from June. 1,806 units were sold in June.
SINGAPORE: Sales of new private homes in Singapore plunged in July.
Figures from the Urban Redevelopment Authority show that just 481 units of new homes were sold last month, down 73 percent from June. 1,806 units were sold in June.
Market watchers had anticipated the sharp drop in sales transactions on the back of new loan curbs introduced on 29 June and the lack of new major project launches in July.
The top-selling project during the month was Vue 8 Residence in Pasir Ris, which moved 63 units, followed by Bartley Ridge at Mount Vernon Road with 25 units sold.
Including executive condominiums (ECs), 593 new homes were sold in July, down from 2,119 units transacted in the previous month.
The best-selling EC project was Forestville at Woodlands, which sold 78 new units.
Developers launched a total of 557 new units last month, compared to 2,421 units placed for sale in June.
- CNA/xq
- wong chee tat :)
Tuesday, July 16, 2013
Strong interest in Lush Acres
Strong interest in Lush Acres
By Wong Siew Ying
POSTED: 16 Jul 2013 4:41 PM
Lush Acres, a new 380-unit executive condominium (EC) project in Sengkang, has received strong interest from home hunters.
SINGAPORE: Lush Acres, a new 380-unit executive condominium (EC) project in Sengkang, has received strong interest from home hunters.
City Developments says the project has been oversubscribed by 1.6 times since it opened for application over the weekend.
Application closes on 21 July and bookings will be conducted on 17 August.
In view of new EC guidelines introduced earlier this year, Lush Acres will not have any dual-key unit or penthouse with private roof terraces.
Prices of units will be announced at a later date, but some analysts expect the average price to range between S$730 and S$750 per square foot.
Lush Acres is the fourth EC project to be launched in Singapore this year.
Interest among homebuyers continues to be strong as ECs are typically more affordable than private condominiums.
ERA, one of Lush Acres' marketing agents, says recent curbs on property loans, such as the new Total Debt Servicing Ratio (TDSR) framework, are unlikely to affect EC sales.
ERA Realty Network's key executive officer, Mr Eugene Lim, said: "The new measures by MAS are actually targeting multiple-property owners. EC buyers cannot be owning multiple properties.
"So, if you are first-time buyer, this is the only home you are buying, and if you are an upgrader, you basically sign an undertaking to sell your HDB flat when you take possession.
"So, it is quite unlikely that this group of buyers is affected by the TDSR ratio of 60 percent, unless they are already living a very highly geared lifestyle from non-property loans, which is not likely the case. I would perceive most, if not all, EC buyers are not affected by this TDSR ruling."
The four EC projects that have been launched so far this year - Forestville, Twin Fountains, Ecopolitan and Lush Acres - will offer 1,963 units.
And market watchers expect three more EC projects to be launched by year-end, which will likely yield another 1,368 units.
But those projects will also be subjected to new guidelines on private roof terraces and restrictions on the maximum unit size, among others.
Alan Tan, HSR head for project advisory, said: "Buyers today demand more, they want more, they want something different. That is the kind of lure that developers are trying to provide. Not too long ago, some even built private jacuzzis for EC projects. These are all creativities that developers are looking into to sort of replace big roof terraces or private enclosed space, for that matter."
Analysts say EC developers can still be creative while working within the government's guidelines. And a lot of it will involve designing better living spaces and incorporating lifestyle elements into the projects.
For example, Channel NewsAsia understands that SkyPark Residences in Sembawang will likely feature two-storey maisonettes and roof-top gardens.
Similarly, Waterwoods EC in Punggol will have maisonette units.
And Sea Horizon at Pasir Ris could offer many units with sea view.
Analysts say once these projects are rolled out, home buyers may have to wait till the second half of next year for new EC launches.
Knight Frank's associate director & head for consultancy & research, Ms Alice Tan, said: "Since the January announcement of the 15-month marketing rule, there were only two EC sites that were being sold, in April and May.
"So, these two projects can be launched at the earliest, end of 2014 or maybe early 2015. With this anticipation or pent-up demand, this could support or push EC home prices for these upcoming launches."
HSR estimates that EC prices could climb marginally by 1 to 2 percent this year.
- CNA/ir
- wong chee tat :)
By Wong Siew Ying
POSTED: 16 Jul 2013 4:41 PM
Lush Acres, a new 380-unit executive condominium (EC) project in Sengkang, has received strong interest from home hunters.
SINGAPORE: Lush Acres, a new 380-unit executive condominium (EC) project in Sengkang, has received strong interest from home hunters.
City Developments says the project has been oversubscribed by 1.6 times since it opened for application over the weekend.
Application closes on 21 July and bookings will be conducted on 17 August.
In view of new EC guidelines introduced earlier this year, Lush Acres will not have any dual-key unit or penthouse with private roof terraces.
Prices of units will be announced at a later date, but some analysts expect the average price to range between S$730 and S$750 per square foot.
Lush Acres is the fourth EC project to be launched in Singapore this year.
Interest among homebuyers continues to be strong as ECs are typically more affordable than private condominiums.
ERA, one of Lush Acres' marketing agents, says recent curbs on property loans, such as the new Total Debt Servicing Ratio (TDSR) framework, are unlikely to affect EC sales.
ERA Realty Network's key executive officer, Mr Eugene Lim, said: "The new measures by MAS are actually targeting multiple-property owners. EC buyers cannot be owning multiple properties.
"So, if you are first-time buyer, this is the only home you are buying, and if you are an upgrader, you basically sign an undertaking to sell your HDB flat when you take possession.
"So, it is quite unlikely that this group of buyers is affected by the TDSR ratio of 60 percent, unless they are already living a very highly geared lifestyle from non-property loans, which is not likely the case. I would perceive most, if not all, EC buyers are not affected by this TDSR ruling."
The four EC projects that have been launched so far this year - Forestville, Twin Fountains, Ecopolitan and Lush Acres - will offer 1,963 units.
And market watchers expect three more EC projects to be launched by year-end, which will likely yield another 1,368 units.
But those projects will also be subjected to new guidelines on private roof terraces and restrictions on the maximum unit size, among others.
Alan Tan, HSR head for project advisory, said: "Buyers today demand more, they want more, they want something different. That is the kind of lure that developers are trying to provide. Not too long ago, some even built private jacuzzis for EC projects. These are all creativities that developers are looking into to sort of replace big roof terraces or private enclosed space, for that matter."
Analysts say EC developers can still be creative while working within the government's guidelines. And a lot of it will involve designing better living spaces and incorporating lifestyle elements into the projects.
For example, Channel NewsAsia understands that SkyPark Residences in Sembawang will likely feature two-storey maisonettes and roof-top gardens.
Similarly, Waterwoods EC in Punggol will have maisonette units.
And Sea Horizon at Pasir Ris could offer many units with sea view.
Analysts say once these projects are rolled out, home buyers may have to wait till the second half of next year for new EC launches.
Knight Frank's associate director & head for consultancy & research, Ms Alice Tan, said: "Since the January announcement of the 15-month marketing rule, there were only two EC sites that were being sold, in April and May.
"So, these two projects can be launched at the earliest, end of 2014 or maybe early 2015. With this anticipation or pent-up demand, this could support or push EC home prices for these upcoming launches."
HSR estimates that EC prices could climb marginally by 1 to 2 percent this year.
- CNA/ir
- wong chee tat :)
Wednesday, January 2, 2013
URA investigating sale of Forestville EC units
URA investigating sale of Forestville EC units
Posted: 31 December 2012 1952 hrs
SINGAPORE: The Urban Redevelopment Authority (URA) said it is still investigating the proposed sale of Forestville executive condominium (EC) on 28 December.
In a response to queries from Channel NewsAsia, URA said the Controller of Housing (COH) had instructed the developer, Hao Yuan Investments, on 28 December not to sell units in the Forestville EC project, pending further investigations.
The statement added "the developer has launched the project with some proposed changes to the development's plans which had not been approved, and this is not allowed."
Channel NewsAsia understands that the developer had initially received the necessary approvals from URA for the sale.
However, the company had made some changes to the development plans at the eleventh hour and this has prompted URA to step in and stop the sale.
It is believed the URA is currently looking into the entire process leading up to the intended sale.
This includes ensuring the proposed changes to the development plans are in good order.
URA added that "the results of the investigation will help us determine what further actions to take".
Hao Yuan issued a statement on Saturday to clarify that "there were no bookings of units for Forestville EC as originally intended on Dec 28."
Instead, the company said "the balloting process proceeded as usual in order to determine the sequencing order of the applicants."
It added that there were also no booking fees collected and as such there will be no forfeiture.
This came following reports on Friday claiming that about 20 per cent of the dual-key units at Forestville were snapped up within two and a half hours of the launch.
The developers have included about 200 such units in the 653-unit project.
Dual-key units are designed to contain separate living spaces under one roof.
- CNA/xq
- wong chee tat :)
Posted: 31 December 2012 1952 hrs
SINGAPORE: The Urban Redevelopment Authority (URA) said it is still investigating the proposed sale of Forestville executive condominium (EC) on 28 December.
In a response to queries from Channel NewsAsia, URA said the Controller of Housing (COH) had instructed the developer, Hao Yuan Investments, on 28 December not to sell units in the Forestville EC project, pending further investigations.
The statement added "the developer has launched the project with some proposed changes to the development's plans which had not been approved, and this is not allowed."
Channel NewsAsia understands that the developer had initially received the necessary approvals from URA for the sale.
However, the company had made some changes to the development plans at the eleventh hour and this has prompted URA to step in and stop the sale.
It is believed the URA is currently looking into the entire process leading up to the intended sale.
This includes ensuring the proposed changes to the development plans are in good order.
URA added that "the results of the investigation will help us determine what further actions to take".
Hao Yuan issued a statement on Saturday to clarify that "there were no bookings of units for Forestville EC as originally intended on Dec 28."
Instead, the company said "the balloting process proceeded as usual in order to determine the sequencing order of the applicants."
It added that there were also no booking fees collected and as such there will be no forfeiture.
This came following reports on Friday claiming that about 20 per cent of the dual-key units at Forestville were snapped up within two and a half hours of the launch.
The developers have included about 200 such units in the 653-unit project.
Dual-key units are designed to contain separate living spaces under one roof.
- CNA/xq
- wong chee tat :)
Monday, December 10, 2012
Dual-key EC units becoming more popular
Dual-key EC units becoming more popular
By Lip Kwok Wai, Karen Ng | Posted: 08 December 2012 1936 hrs
SINGAPORE: Dual-key units in executive condominiums (ECs) are rising in demand among home-seekers.
Developer MCC Land said its executive condominium project One Canberra sold out its 95 dual-key apartments within a month, from when the project was launched in April.
The developer is now confident that its new project, the EC Forestville, will also do well.
The number of dual-key apartments in Forestville is twice that of such units in a usual EC development.
Located in Woodlands, the project has 653 units, 201 of which are dual-key apartments with three to five bedrooms.
Sizes range from 1240 to 2150 square feet, depending on the number of rooms.
Analysts said that developers of such ECs take on more risk, as the floor area of each unit is larger and they might earn less per square foot.
But developers feel that dual-key apartments give homeowners more flexibility as it is suitable for multi-generation families.
Mr Michael Tan from Ho Lee Group, the developer of Heron Bay, said: "With dual-key (apartments), (homeowners) are given the room to grow so initially when they don't need (the space), they can rent it out to somebody for rental income. When the need arises, they can take back the extra space they need to allow them to have a bigger and better environment."
- CNA/xq
- wong chee tat :)
By Lip Kwok Wai, Karen Ng | Posted: 08 December 2012 1936 hrs
SINGAPORE: Dual-key units in executive condominiums (ECs) are rising in demand among home-seekers.
Developer MCC Land said its executive condominium project One Canberra sold out its 95 dual-key apartments within a month, from when the project was launched in April.
The developer is now confident that its new project, the EC Forestville, will also do well.
The number of dual-key apartments in Forestville is twice that of such units in a usual EC development.
Located in Woodlands, the project has 653 units, 201 of which are dual-key apartments with three to five bedrooms.
Sizes range from 1240 to 2150 square feet, depending on the number of rooms.
Analysts said that developers of such ECs take on more risk, as the floor area of each unit is larger and they might earn less per square foot.
But developers feel that dual-key apartments give homeowners more flexibility as it is suitable for multi-generation families.
Mr Michael Tan from Ho Lee Group, the developer of Heron Bay, said: "With dual-key (apartments), (homeowners) are given the room to grow so initially when they don't need (the space), they can rent it out to somebody for rental income. When the need arises, they can take back the extra space they need to allow them to have a bigger and better environment."
- CNA/xq
- wong chee tat :)
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