{"id":138470,"date":"2023-07-24T07:42:00","date_gmt":"2023-07-24T00:42:00","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-lakegarden-residences-and-altura-open-for-preview-may-2023-bto-and-sbf-results-delayed-till-august-2023-and-more\/"},"modified":"2023-07-24T16:02:42","modified_gmt":"2023-07-24T09:02:42","slug":"the-lakegarden-residences-and-altura-open-for-preview-may-2023-bto-and-sbf-results-delayed-till-august-2023-and-more","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-lakegarden-residences-and-altura-open-for-preview-may-2023-bto-and-sbf-results-delayed-till-august-2023-and-more\/","title":{"rendered":"The LakeGarden Residences and Altura Open For Preview, May 2023 BTO and SBF Results Delayed till August 2023, and More"},"content":{"rendered":"


\nThe LakeGarden Residences and Altura Open For Preview, May 2023 BTO and SBF Results Delayed till August 2023, and More18 to 24 July 2023
\nThe LakeGarden Residences, Wing Tai Holdings\u2019 condominium project in Jurong, has opened for preview, with prices starting at just below $2,000 per sq ft (PSF). Meanwhile, Qingjian Realty and Santarli Realty have opened Altura\u00a0Executive Condominium (EC) for preview on 22 July 2023, with sales bookings set to start on 5 August 2023.
\n\u00a0
\n1. The LakeGarden Residences opens for preview <\/p>\n

The LakeGarden Residences, Wing Tai Holdings\u2019 condominium project in Jurong, has opened for preview, with prices starting at just below $2,000 PSF, reported The Business Times.
\nThe 99-year leasehold development comprises two 19-storey towers with 306 units of one- to five-bedroom units. Unit sizes range from 484 sq ft for 1-bedroom units, 592 sq ft for 2-bedroom units, 926 sq ft for 2-bedroom units, 1,270 sq ft for 4-bedroom units, and 1,550 sq ft for 5-bedroom units.
\nIt also has four duplex penthouses, which come with private lift access and spans from 2,002 sq ft to 2,260 sq ft.
\nDr Tan Tee Khoon, Country Manager \u2013 Singapore, PropertyGuru commented on The LakeGarden Residences\u2019 opportune launch within the Jurong Lake District (JLD), \u201cThis project places\u00a0its bet on the likely pent-up demand for that location since the last new launch was in 2016.
\nGiven that the government has \u2018high ambitions for JLD to be a demonstrative site for sustainable living\u2019, the fact that this is Wing Tai\u2019s inaugural sustainable development with low-energy and renewable energy features built into the development
\nIt is also a huge plus for property seekers as energy-efficient appliances are provided with each unit for just below $2,000 PSF.\u201d
\nThe first condo launch within the area in seven years, the development will open for sales booking from 5 August 2023.
\nRelated article:\u00a0Blossoms By The Park, Tembusu Grand, and More: How Did Major New Condo Launches in Q2 2023 Perform?
\n\u00a0
\n2. Qingjian Realty and Santarli Realty preview Altura EC<\/p>\n

Qingjian Realty and Santarli Realty opened Altura EC for preview on 22 July 2023, with sales bookings set to start on 5 August 2023.
\nLocated on Bukit Batok West Avenue 8, the development features 360 units of 3-bedroom to 5-bedroom apartments.
\nA 980 sq ft 3-bedroom premium-plus-study unit is priced from $1.348 million or $1,376 PSF, while a 4-bedroom flexi deluxe spanning 1,206 sq ft is priced from $1.668 million or $1,383 PSF.
\nA 4-bedroom flexi premium unit is offered from $1.988 million or $1,388 PSF, while a 5-bedroom premium-plus-study unit is priced from $2.188 million or $1,422 PSF.
\nThe project is the first EC to be launched in Bukit Batok area since 2001, when The Dew, a 248-unit EC project, was launched.
\n\u00a0
\n3. Dr Lee Nai Jia\u00a0comments on the rising divergence between the public and private housing market
\nWhile public housing is considered attainable in Singapore, private housing is not, with the median private home price 13.7 times the median household income.
\nIn particular, the median price for a newly launched condo stood at $1.95 million last year, bringing the housing affordability ratio for the past five years from 10.84 to 16.06. This means an average household needs around 16 years of income to afford a median new condominium.
\nDespite this, demand for new homes remains robust, with buyers including younger households with higher disposable incomes and possibly assistance from their families.
\n\u201cIt\u2019s intrinsically tied to the aspiration of social mobility \u2026 Therefore, we need to rethink housing solutions that don\u2019t just address affordability, but also foster a healthy social fabric and personal development,\u201d said Dr Lee Nai Jia, Head of Real Estate Intelligence, Data and Software Solutions, PropertyGuru Group as quoted by\u00a0CNA.
\nHe believes that such economic chasm \u201cposes a threat to societal stability\u201d.
\nBut while the affordability of private homes remains a concern, the government has been successful in providing affordable housing compared to other cities such as Hong Kong and Seoul.
\n\u00a0
\n4. Co-living operator The Assembly Place commits to integrating blockchain tech with their real estate and hospitality offerings through a strategic investment in 2MR Web3 Launchpad<\/p>\n

The Assembly Place (TAP), a co-living operator based in Singapore, recently announced their strategic investment in the 2MR Labs Web3 Launchpad.
\nBy alliancing with 2MR Labs, Southeast Asia\u2019s first Web3 launchpad which aims to build and integrate technologies with brands through digital assets, TAP looks forward to\u00a0implementing\u00a0the most up-to-date blockchain tech, among other exciting breakthroughs into its real estate and hospitality offerings.
\n\u201cAs TAP is approaching our 1,500 rooms target in the coming months, it is the correct time to adopt a Web3 strategy through 2MR Labs in our co-living business,\u201d said Eugene Lim, CEO and founder of TAP.
\n\u201cWe believe the future of brand power lies in the power of their community, and we aspire to maximise the potential of brands, empower communities with blockchain to achieve more and build a sustainable future,\u201d said Arthur Lin, CEO and founder of 2MR Labs.
\n\u00a0
\n5. New private home sales dropped 73.2% in June 2023
\nAfter five consecutive months of increase, new private home sales, excluding ECs, fell 73.2% to 278 units in June from 1,039 units in May 2023, reported CNA citing Urban Redevelopment Authority (URA) data.
\nOn an annual basis, private home sales dropped 43% from the 488 units transacted in June 2022.
\nAnalysts attributed the decline in sales to the lack of significant project launches, with 17-unit Lavender Residence being the sole project launched in May 2023.
\nIn fact, the number of units launched in June 2023 plunged 98.1% month-on-month (MoM) and 92.2% year-on-year (YoY) to 31 units.
\nOther reasons cited are the June 2023 school holidays and the cooling measures rolled out in April 2023.
\nThe 278 units shifted in June brings the total number of private homes sold in 1H 2023 to 3,463 units, down 18% from the 4,222 units transacted in 1H 2022.
\nLooking ahead, analysts expect new private home sales to pick up in 2H 2023 as more projects are slated for launch.
\n\u00a0
\n6. Punggol BTO units were further delayed after HDB replaces the main contractor over unsatisfactory progress
\nAfter around six to nine months of delay, the 991 buyers of Punggol Point Cove BTO flats will face further delays of up to three months due to the termination of the project\u2019s main contractor, reported TODAY.
\nThe\u00a0HDB revealed that the termination of CKR Contract Services was due to unsatisfactory progress as well as repeated failure to meet construction targets, despite the various assistance measures extended to it.
\nNotably, the affected units are spread across five of the six blocks at Punggol Point Cove.
\nHDB said it has informed the project\u2019s affected flat buyers of the latest expected completion dates for their blocks.
\nGermaine Chee, one of the affected buyers, said the news is \u201cdisappointing\u201d as she had to push back many of her plans.
\n\u201cThe delay was expected as we\u2019ve been getting rumours of the termination for quite some time now and seeing how the progress of the construction has been over the past few years,\u201d she added.
\n\u00a0
\n7. More seniors monetising their HDB flats
\nTo supplement their retirement income, more seniors have monetised their HDB flats, with around 2,860 availing of the Silver Housing Bonus Scheme and Lease Buyback Scheme in 2022, up from 2,790 in 2021, reported The Straits Times.
\nOverall, seniors got about $429 million, of which around $202 million were in the form of cash bonus and take-home cash while the other $227 million were used to top up their\u00a0CPF Retirement Accounts.
\nThe amount that seniors have been receiving by tapping the two HDB housing schemes has been increasing in the last few years, rising from $325 million in 2020 to $382 million in 2021.
\nDespite this, the take-up rate for the Lease Buyback Scheme and Silver Housing Bonus Scheme has remained low, due to uncertainties affecting seniors\u2019 decisions to monetise their flats.
\nThese may include their desire to bequeath their homes to their children, uncertainties about their life expectancy and medical expenses during retirement.
\nThe hot housing market may also be deterring some seniors to tap into the HDB schemes as it could mean paying higher prices for the smaller flats that they are exchanging their larger units for.
\n\u00a0
\n8. Longer wait time for May 2023 BTO and SBF ballot results and HDB Flat Eligibility (HFE) letter applications due to \u2018system glitches\u2019
\nHDB has announced that the May 2023 BTO and Sale of Balance Flats (SBF) ballot results will be announced only during the August 2023 BTO launch, an extension from the usual approximate three-week turnaround time.
\nHDB\u00a0said also the longer processing times that some flat buyers faced to secure their HFE letter were due to system glitches.
\nRequired since 9 May 2023 for both new and resale flat buyers, the new HFE letter has a processing time of up to 21 working days.
\nHowever, this could take \u201clonger during peak periods, such as in the months of and before a sales launch, in view of the higher volume of applications received\u201d, said HDB.
\nCNA reported that several flat buyers complained of long wait times, which they described as unnerving and frustrating. In fact, some of them waited for more than 30 days for their applications to be approved, while some were unable to view their application on the portal.
\nResale flat buyers, especially those not taking an HDB loan, also faced delays due to the HFE letter requirement. Property agents noted that approval for this group of buyers was previously almost instant once they have registered their intent to purchase with HDB.
\nWith this, HDB assured applicants that approvals for their HFE letter, \u201cwhere applicable, will be granted before their flat booking appointment, and their flat applications will not be affected\u201d.
\nMeanwhile, resale flat buyers in urgent need of the HFE letter can seek HDB\u2019s assistance.
\n\u00a0
\n9. Fewer foreigners purchased condominiums in Q2 2023
\nPrivate non-landed homes bought by foreigners declined 22.6% to 2015 units in the second quarter of 2023, from the previous quarter\u2019s 265 units, reported The Straits Times citing OrangeTee and Tie.
\nForeigners were apparently deterred by the increase in Additional Buyer\u2019s Stamp Duty (ABSD) in April 2023 as part of the government\u2019s latest round of cooling measures.
\nWith this, the proportion of foreign acquisitions also declined from 6.9% to 4.2% over the same period.
\nAmericans, who are subject to the same stamp-duty treatment as Singaporeans due to a free-trade agreement, emerged as the top foreign buyers in Q2 2023.
\nMainland Chinese, who were the biggest group of foreign buyers in Singapore between 2017 and Q1 2023, came in second, buying 51 condo units in Q2 2023, compared to the 56 units bought by Americans.
\nTransactions by mainland Chinese buyers dropped 53.2% from 109 units in Q1 2023, while transactions by Americans dipped only by 11.1% from 63 units in Q1 2023.
\n\u00a0
\n10. Tampines Street 62 (Parcel B) attracts seven bids, Jalan Tembusu site gets two bids
\nThe tender for the\u00a0EC site at Tampines Street 62 (Parcel B) closed on 18 July 2023, with seven bids received, revealed HDB.
\nOf these, four bidders submitted alternative proposals on top of a base prefabricated, pre-finished volumetric construction (PPVC) bid.
\nMeanwhile, demand for the residential site at Jalan Tembuso was low, with only two bids received during the close of its tender, revealed the Urban Redevelopment Authority (URA).
\nSim Lian Group emerged as the highest bidder at $828.8 million or $1,069 PSF\u00a0per plot ratio (ppr). This is just 0.1% above City Developments Limited (CDL) and Frasers Property\u2019s $828 million bid, noted Knight Frank.
\nHuttons Asia attributed the low interest for the site to its large quantum and the high interest rate environment.
\nRelated article:\u00a0Government Land Sales (GLS) Programme Guide (Updated With GLS Sites for 2H2023 Singapore)
\n\u00a0
\n11. A 5-room\u00a0DBSS flat in Bishan sold for a record $1.43 million
\nA 5-room Design, Build and Sell Scheme (DBSS)\u00a0flat (aka as \u2018premium\u2019 HDB flats) in Bishan has been sold for a whopping $1.43 million, making it the most expensive five-room resale flat in Singapore, reported Lianhe Zaobao.
\nThe record was previously held by a 5-room flat at The Peak @ Toa Payoh, which was sold for $1.42 million.
\nSpanning 120 sq m (about 1,291 sq ft), the flat is located between the 35th and 40th floors of Blk 273B Bishan Street 24, which corresponds to Natura Loft, a DBSS\u00a0project.
\nThe unit\u2019s realtor revealed that the sellers \u2013 a couple who are in their 30s \u2013 purchased the flat seven years ago. They sold the flat to a small and medium enterprise (SME) owner since they want to move to a private home.
\nWant to read more about this million-dollar HDB flat transaction? We spoke to the property agents responsible for this sale.
\n\u00a0
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nMarcus Lee, Content Executive at PropertyGuru, edited this story. To contact him about this story, email: marcuslee@propertyguru.com.sg.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…The LakeGarden Residences and Altura Open For Preview, May 2023 BTO and SBF Results Delayed till August 2023, and More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The LakeGarden Residences and Altura Open For Preview, May 2023 BTO and SBF Results Delayed...<\/p>\n","protected":false},"author":1,"featured_media":138471,"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-138470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2023\/07\/lake-garden-residences-condo-singapore.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-A1o","jetpack-related-posts":[{"id":137962,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-myst-and-lendor-hills-residences-opened-for-preview-on-24-june-2023-tiong-bahru-hdb-flat-sold-for-record-1-5-million-and-more\/","url_meta":{"origin":138470,"position":0},"title":"The Myst and Lendor Hills Residences Opened For Preview on 24 June 2023, Tiong Bahru HDB Flat Sold for Record $1.5 million, and More","date":"June 26, 2023","format":false,"excerpt":"\r The Myst and Lendor Hills Residences Opened For Preview on 24 June 2023, Tiong Bahru HDB Flat Sold for Record $1.5 million, and More20 to 27 June 2023 City Developments Limited (CDL) has opened The Myst \u2013 its 408-unit condominium project in Upper Bukit Timah \u2013 for preview on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2023\/06\/lentor-hills-residences-condo-singapore-cover.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":88829,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/strong-interest-in-the-garden-residences-condo\/","url_meta":{"origin":138470,"position":1},"title":"Strong interest in The Garden Residences condo","date":"May 21, 2018","format":false,"excerpt":"\r The Garden Residences showflat drew more than 3,000 visitors for its preview over the weekend. (Photo: Keppel Land and Wing Tai Asia) The Garden Residences by Keppel Land and Wing Tai Asia attracted more than 3,000 visitors over the weekend after its showflat at Serangoon North Avenue 1 opened\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":138680,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/altura-ec-and-the-lakegarden-residences-sell-61-and-63-of-units-over-launch-respectively-and-more\/","url_meta":{"origin":138470,"position":2},"title":"Altura EC and The LakeGarden Residences Sell 61% and 63% of Units Over Launch, Respectively, and More","date":"August 7, 2023","format":false,"excerpt":"\r Altura EC and The LakeGarden Residences Sell 61% and 63% of Units Over Launch, Respectively, and More1 to 7 August 2023 The LakeGarden Residences sold 23% or 71 of its 306 units at an average price of $2,120 per sq ft (PSF) during its launch over the weekend. Meanwhile,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2023\/08\/altura-executive-condo-ec-singapore-cover-1.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":83921,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rivercove-residences-ec-to-open-for-e-application-on-1-april\/","url_meta":{"origin":138470,"position":3},"title":"Rivercove Residences EC to open for e-application on 1 April","date":"March 28, 2018","format":false,"excerpt":"\r Artist\u2019s impression of Rivercove Residences, which offers views of Sungei Punggol. Rivercove Residences, the only new executive condominium (EC) launch in 2018, will open for e-application this Sunday (1 Apr), said developer Hoi Hup Sunway \u2013 a consortium comprising Hoi Hup Realty and Sunway Developments. Located along Anchorvale Lane\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":94757,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-cools-price-in-response-to-cooling-measures\/","url_meta":{"origin":138470,"position":4},"title":"Developer cools price in response to cooling measures","date":"July 26, 2018","format":false,"excerpt":"\r The Tre Ver in Potong Pasir opened for preview last weekend, attracting about 6,000 potential buyers. (Photo: UOL Group) The developer of The Tre Ver condominium in Potong Pasir plans to offer significant discounts to attract home buyers amidst the new property cooling measures. \u201cIn the vicinity, we know\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":44788,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/overwhelming-crowds-reported-at-grandeur-park-residences-preview\/","url_meta":{"origin":138470,"position":5},"title":"Overwhelming crowds reported at Grandeur Park Residences preview","date":"February 20, 2017","format":false,"excerpt":"\r Artist\u2019s impression of Grandeur Park Residences, a new condominium in Tanah Merah. Source: CEL Development Grandeur Park Residences, CEL Development\u2019s latest condominium in Tanah Merah, received very strong interest from buyers, with 10,000 people turning up at its showflat over the weekend, reported the Straits Times. With sales set\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/138470"}],"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=138470"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/138470\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/138471"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=138470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=138470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=138470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}