{"id":100166,"date":"2018-10-19T10:41:23","date_gmt":"2018-10-19T03:41:23","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/some-private-condos-may-become-pricier-due-to-new-ura-rules\/"},"modified":"2018-10-19T11:03:13","modified_gmt":"2018-10-19T04:03:13","slug":"some-private-condos-may-become-pricier-due-to-new-ura-rules","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/some-private-condos-may-become-pricier-due-to-new-ura-rules\/","title":{"rendered":"Some private condos may become pricier due to new URA rules"},"content":{"rendered":"


\nURA this week announced that the average unit size at non-landed projects outside the Central region will be increased.
\nA real estate industry body believes that private condos in some parts of Singapore could become more expensive after the government raised the average unit size, reported the Business Times.
\nOn Wednesday (17 Oct), the Urban Development Authority (URA) announced that the average unit size at non-landed residential projects outside the Central region would be increased from the current 70 sq m to 85 sq m.
\nMore:\u00a0URA To Adjust Guidelines If Developers Build Too Many Shoebox Units
\nFor nine areas where a large number of homes can negatively affect local infrastructure, the mandated average size is 100 sq m. Currently, only four areas are covered by this, but it now includes Loyang, Shelford, Balestier, Marine Parade, Pasir Panjang, Kovan-How Sun, Stevens-Chancery, Joo Chiat-Mountbatten and Telok Kurau-Jalan Eunos.
\nAccording to the Real Estate Developers\u2019 Association of Singapore (REDAS), the higher average unit size could impact affordability for those seeking to downsize and retire as well as people looking for smaller private condos.
\nThe new rules on average unit size will take effect on 17 January next year.
\nMoreover, REDAS revealed that the URA reduced the 10 percent cap for bonus gross floor area (GFA) for private outdoor spaces of non-landed housing projects to 7.0 percent after noticing that developers don\u2019t usually maximise it.
\nThese private outdoor spaces include a condo\u2019s balconies, enclosed spaces and roof terraces.
\n\u201cThe new guideline of seven percent bonus GFA cap aim to provide home buyers more choices of units with and without private outdoor spaces and allow developers the flexibility to choose from a menu of available bonus GFA incentives that best fit their own business needs,\u201d it noted.
\nFurthermore, REDAS lauded the new bonus GFA for indoor recreation spaces (capped at one percent of GFA), such as libraries, gyms and function rooms. Unlike the other new rules, this scheme takes effect immediately.
\n\u201cIt allows developers to provide additional facilities and covered communal spaces for residents,\u201d added the industry group.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Some private condos may become pricier due to new URA rules<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

URA this week announced that the average unit size at non-landed projects outside the Central...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-100166","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-q3A","jetpack-related-posts":[{"id":101456,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-new-ura-rules-dont-impose-a-minimum-size\/","url_meta":{"origin":100166,"position":0},"title":"Govt: New URA rules don\u2019t impose a minimum size","date":"November 20, 2018","format":false,"excerpt":"\r The new URA guidelines do not stipulate a minimum built-up area for private properties and instead imposes higher average sizes. National Development Minister Lawrence Wong explained that new rules announced by the Urban Redevelopment Authority (URA) last month doesn\u2019t set a minimum size for private condos outside Singapore\u2019s central\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100096,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-limits-number-of-private-condos-outside-central-region\/","url_meta":{"origin":100166,"position":1},"title":"URA limits number of private condos outside central region","date":"October 18, 2018","format":false,"excerpt":"\r The move aims to safeguard the liveability of housing estates in Singapore by reducing the sizes of private condos. The Urban Redevelopment Authority (URA) changed the formula for determining the maximum number of units that developers can build in new non-landed residential projects outside Singapore\u2019s central region on Wednesday\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101292,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/majority-of-shoebox-apartment-investors-profited-knight-frank\/","url_meta":{"origin":100166,"position":2},"title":"Majority of shoebox apartment investors profited: Knight Frank","date":"November 15, 2018","format":false,"excerpt":"\r Owners of shoebox apartments can expect to enjoy healthy capital gains.\u00a0 About 88.4 percent of resale transactions involving shoebox apartments, units smaller than 50 sq m (approx. 538.2 sq ft), made a profit, according to an analysis of caveats by Knight Frank. \u201cA majority of investors who have put\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100913,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/small-home-resales-hit-10-year-high-in-2017\/","url_meta":{"origin":100166,"position":3},"title":"Small home resales hit 10-year high in 2017","date":"November 5, 2018","format":false,"excerpt":"\r Sales of resale homes measuring from 500 to 800 sq ft hit a 10-year high of 1,466 units in 2017. Sales of small private condos slowly but steadily increased between 2014 and 2017, reported the Business Times, citing newly published research from OrangeTee & Tie. The study found that\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":87014,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-to-adjust-guidelines-if-developers-build-too-many-shoebox-units\/","url_meta":{"origin":100166,"position":4},"title":"URA to adjust guidelines if developers build too many shoebox units","date":"May 3, 2018","format":false,"excerpt":"\r Developers are allowed to build condo units of different sizes, assuming an average size of 753 sq ft. The Urban Redevelopment Authority (URA) said on Wednesday (3 May) that it will intervene, if needed, to prevent property developers from building too many tiny apartments or shoebox units amidst the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123544,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-pine-grove-sites-released-for-sale\/","url_meta":{"origin":100166,"position":5},"title":"Two Pine Grove sites released for sale","date":"December 1, 2021","format":false,"excerpt":"\r The two Pine Grove sites can potentially yield up to 1,085 units\u00a0altogether. Source: URA Two residential sites at Pine Grove (Parcels A and B) that can jointly yield up to 1,085 units have been released for sale under the reserve list of the second half 2021 Government Land Sales\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/PINE-GROVE-URA.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/100166"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=100166"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/100166\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=100166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=100166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=100166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}