![](\"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2023\/01\/hdb-construction.jpg?fit=820%2C410&ssl=1\")
\n60% of Sceneca Residence Units Sold on Launch Day, Another BTO Project Faces Mouldy Issue and more10th January \u2013 16th January 2023
\nThis year\u2019s first new residential launch Sceneca Residence sold 60% of its 268 units at an average price of $2,072 per sq ft (psf) during its launch on 14 January. Meanwhile, another Build-to-Order (BTO) project in Sumang Lane at Punggol West is faced with mouldy fa\u00e7ade issue.
\n\u00a0
\n1) 60% of Sceneca Residence units sold on launch day
\nSceneca Residence, the first new residential launch of the year, sold 160 units or 60% of its 268 units at an average price of $2,072 per sq ft (psf) during its launch on 14 January, reported\u00a0The Business Times.
\nAbout 75% of the 99-year leasehold units sold comprised one- and two-bedroom units, with prices starting from $958,000 for a one-bedder and from $1.33 million for a two-bedder. In fact, all 48 one-bedroom units at the development were sold.
\nThe largest unit at the development, a 2,756 sq ft four-bedder penthouse, was also snapped up during the project\u2019s launch.
\nSingaporeans accounted for 88.5% of the project\u2019s buyers, while permanent residents and foreigners made up 11.5%.
\nAnalysts say the sales performance of Sceneca Residence \u2013 which was jointly developed by MCC Singapore, Ekovest Development as well as The Place Holdings \u2013 was within expectations.
\nThey add that the result was also commendable considering that the launch was so close to Chinese New Year, which usually sees slower market activity.
\n2. Another BTO\u00a0project faces mouldy issue
\nAnother BTO project \u2013 this time in Sumang Lane at Punggol West \u2013 is faced with mouldy fa\u00e7ade issue, following news of mould at a BTO project in Sengkang.
\nThe affected blocks in Punggol are part of BTO project Matilda Court, reported\u00a0TODAY.
\nThe issue at Punggol came to light after Facebook user James Ng posted photos of mould growing on the exterior of Block 233 Sumang Lane.
\nWith this, Punggol West MP Sun Xueling revealed that the tender for the repair and redecoration works for Matilda Court estate will be conducted this year.
\nMeanwhile, HDB explained that the external walls of all new HDB developments are painted with one coat of water-based sealer as well as two coats of algae-resistant emulsion paint.
\nBoth the sealer and emulsion paint have complied with the Singapore standards for such products.
\nIt pointed that town councils are given a six-year warranty for external painting when the blocks are turned over to them for management and maintenance.
\n\u201cDuring this period, the building contractor and their paint specialist are required to rectify any defects or imperfections that are detected,\u201d said HDB.
\n3. Construction demand to reach\u00a0$27bil \u2013 $32bil in 2023
\nDemand for construction in Singapore is expected to remain strong, with the value of construction contract to be awarded this year forecasted to range between $27 billion and $32 billion, said the\u00a0Building and Construction Authority\u00a0(BCA).
\nAbout 60% of the total construction demand is anticipated to come from the public sector, or between $16 billion and $19 billion.
\nPrivate construction demand is forecasted to be between $11 billion and $13 billion, which is comparable with 2022 figures.
\nBCA revealed that preliminary total construction demand for last year reached $29.8 billion, which is within the authorities forecast.
\nSpeaking at a Real Estate Developers\u2019 Association of Singapore (BCA-REDAS) seminar, National Development Minister Desmond Lee said that while construction demand appears to be steady, companies should keep in mind the challenges ahead such as supply chain pressures, climate change and the growing risk of recession across major economies, reported\u00a0The Straits Times.
\n\u201cIt is important that we take in the lessons learnt over the past few years to enhance the built environment sector\u2019s resilience. This includes reducing our reliance on foreign manpower for labour-intensive tasks, and doing more to fulfil our net-zero climate goals,\u201d said the minister.
\n4. Complaints\u00a0against property agents helping to violate HDB rules on the rise<\/p>\n