{"id":70127,"date":"2017-10-26T17:00:07","date_gmt":"2017-10-26T10:00:07","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-october-2017\/"},"modified":"2017-10-26T22:09:57","modified_gmt":"2017-10-26T15:09:57","slug":"news-roundup-october-2017","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-october-2017\/","title":{"rendered":"News Roundup (October 2017)"},"content":{"rendered":"


\nOur top Singapore property stories.
\nFaster and easier HDB resale process by 2018
\nThe Housing Board plans to launch a new website that will significantly expedite the selling and buying of HDB resale flats.
\nAt present, an HDB resale transaction usually takes about 16 weeks to complete, where both parties need to fulfil two appointments with the Housing Board. The first appointment evaluates the buyer\u2019s financial plan and determines the seller\u2019s sale proceeds, while the second appointment is where both parties sign the documents to complete the deal.
\nBefore the first appointment, the buyer and the seller must also complete an online resale checklist to verify their eligibility to buy and sell before the deal can proceed.
\nHowever, with the new HDB Resale Portal that will go live on 1 January 2018, the entire resale process will be shortened to just eight weeks. Both parties would only need to set one appointment to physically sign the documents after the Housing Board\u2019s approval of their application.
\nThe new website will integrate all eligibility checks on one platform making the entire process accessible and convenient to both buyers and sellers. \u201cThe portal will display an individual\u2019s eligibility to buy or sell their flat. Flat buyers will also be able to view their eligibility for housing grants and an HDB concessionary housing loan through the portal, and apply for an HDB Loan Eligibility Letter if they intend to take up an HDB housing loan.
\n\u201cBuyers using their CPF monies and\/or taking up a housing loan to finance their flat purchase will also use the portal to request HDB to confirm the value of their flat to determine their housing loan and\/or CPF usage,\u201d said the Housing Board.
\nAll new resale applications must be submitted through the portal from next January, and applicants need to pay a processing fee of $120, inclusive of GST.<\/p>\n

Former Zouk site up for sale with $689.35m reserve price
\nThe site previously occupied by iconic nightclub Zouk has been put up for sale with a minimum bid price of $689.35 million.
\nThe tender for the 99-year leasehold site will close on 5 December, and offers below $689.35 million will not to be considered, said the Urban Redevelopment Authority (URA).
\nZoned residential with first-storey commercial use, the site has a maximum gross floor area of about 551,446 sq ft and could yield 525 housing units.
\n\u201cThe land parcel enjoys a waterfront view of the historic Singapore River with direct access to the river promenade accompanied by a good mix of retail, dining and entertainment options,\u201d noted the URA.
\nIt is also accessible via the Central Expressway as well as the upcoming Havelock and Great World MRT stations on the Thomson-East Coast Line.
\nWith this, analysts expect the site to draw strong interest from developers.
\n\u201cWith the optimism around the residential market in the mid- to long term, we expect 10 to 15 bids at possibly 30 percent above the minimum bid,\u201d said Desmond Sim, research head for CBRE in Singapore and Southeast Asia, when the site was triggered for sale last month.
\nIt is also expected to set a record for Government Land Sales (GLS) sites in terms of the land rate, reported the Straits Times.
\nZACD Group executive director Nicholas Mak expects the land price for the site to hover between $728 million and $800 million, or a record $1,320 to $1,450 psf per plot ratio (psf ppr).
\n\u201cJust as the tender for the site of GuocoLand\u2019s Martin Modern resulted in a record GLS residential land price rate of $1,239 psf ppr when that tender closed in June 2016, the tender for this land parcel at Jiak Kim Street would also produce a new record GLS residential land price,\u201d said Mak.<\/p>\n

En blocs can be stressful for residents
\nWhile this year\u2019s collective sale fever has yielded $5.2 billion worth of deals, experts warn that en bloc sales could also prove to be a stressful experience for owners, reported the New Paper.
\n\u201cThere can be disagreements and different camps,\u201d said PropNex Realty associate division director Aaron Wan.
\nA resident of Tampines Court, who tracked the estate\u2019s collective sale in a blog, posted pictures of anonymously-written fliers he received in June that urged residents to write to the sales committee for an increase in the reserve price.
\n\u201cI can hardly keep up with all the letters flying about under doors, in letterboxes and surreptitiously passed from hand to hand.\u201d
\n62-year-old resident Alfred Chong, on the other hand, felt it was unfair that the 80 percent requirement meant he would have to move out even if he did not consent to the sale.
\nEstates not less than 10 years need the support of 90 percent of the owners for it to go through an en bloc sale, while estates older than 10 years only require 80 percent.
\nBlocking an en bloc sale, however, could result in strained relationships with other residents. In fact, R. Jayakumar \u2013 who launched a legal fight to prevent Shunfu Ville\u2019s sale \u2013 believes that some residents may be bitter towards him for delaying the sale.
\nMeanwhile, those rooting for a successful sale may suffer an emotional roller coaster while waiting for the sale to push through.
\nTwo Tampines Court residents revealed that they had been worried when their previous attempt at a collective sale in 2008 and 2011 fell through.
\n\u201cThis place is very run-down. I was stressed out as it would be hard to sell on the market if there was no en bloc,\u201d said a 60-year-old private tutor, who wanted to be identified only as Mrs Tan.<\/p>\n

3 upcoming precincts to yield about 18,500 homes
\nNational Development Minister Lawrence Wong recently launched an exhibit that showcases some preliminary ideas regarding three upcoming residential precincts that could potentially yield a total of 18,500 homes.
\nThe exhibit called \u201cOur Neighbourhoods: A Look into the Future\u201d is being held at The URA Centre Atrium until 20 November.
\nWong noted that the 34ha Holland Plain precinct is expected to accommodate around 2,500 private homes, while some 4,000 private homes will be built at the 17ha Kampong Bugis precinct along Kallang Road.
\nBut the largest is the 60ha Bayshore precinct next to East Coast Park that could potentially yield a total of 12,000 HDB flats and private housing units, he said, adding that all three will be within a short walk to one or more MRT stations.
\nIn addition, he revealed that the government will improve the last-mile connection from these estates to MRT stations.
\n\u201cIn the coming months, we will actively engage the communities around the three precincts to better refine our plans in the lead-up to their launches,\u201d Wong said.
\nKampong Bugis is expected to be launched in the next one to two years, followed by Holland Plain by 2021, while Bayshore would take longer by 2024 as the government will have to wait for the completion of the MRT stations there.
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\nThis article was first published in the print version PropertyGuru News & Views. Download PDFs of full print issues or read more stories now!<\/p>\n


\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…News Roundup (October 2017)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Our top Singapore property stories. Faster and easier HDB resale process by 2018 The Housing...<\/p>\n","protected":false},"author":1,"featured_media":70128,"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-70127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/10\/Housing-precincts.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-if5","jetpack-related-posts":[{"id":69538,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/faster-hdb-resale-process-by-2018\/","url_meta":{"origin":70127,"position":0},"title":"Faster HDB resale process by 2018","date":"October 20, 2017","format":false,"excerpt":"\r The Housing Board announced on Thursday (19 October) that they plan to launch a new website that will significantly expedite the selling and buying of HDB resale flats. At present, an HDB resale transaction usually takes about 16 weeks to complete, where both parties need to fulfil two appointments\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":82472,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/2000-home-owners-given-approval-to-sell-their-flats-hdb\/","url_meta":{"origin":70127,"position":1},"title":"2,000 home owners given approval to sell their flats, HDB","date":"March 12, 2018","format":false,"excerpt":"\r With the launch of the Housing and Development Board\u2019s (HDB) resale portal in January, about 2,000 flat owners have received approval to sell their housing units, reported Channel News Asia. Streamlining the buying and selling of public housing units, the new portal aims to reduce the transaction time by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41977,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-transactions-down-9-1-in-q4\/","url_meta":{"origin":70127,"position":2},"title":"HDB resale transactions down 9.1% in Q4","date":"January 26, 2017","format":false,"excerpt":"\r View of HDB flats in the western region of Singapore. Resale prices of HDB flats dipped by 0.1 percent in the fourth quarter of 2016, according to more complete data published by the Housing Board. For the whole of 2016, the Resale Price Index slipped by 0.1 percent. On\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":72659,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/temporary-blip-in-hdb-resale-transactions-dwindling-first-timer-demand\/","url_meta":{"origin":70127,"position":3},"title":"Temporary blip in HDB resale transactions, dwindling first-timer demand","date":"November 23, 2017","format":false,"excerpt":"\r View of HDB flats in the Ghim Moh area. (Photo: Chen Siyuan: Wikimedia Commons) The latest data showed a 0.7 percent drop in HDB resale prices in Q3 as compared to the previous quarter. We investigate some reasons for this. By Hock Meng Tay The latest HDB resale data\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/11\/GuruView-1024x281.png?fit=1024%2C281&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":78033,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-could-bottom-out-in-2018\/","url_meta":{"origin":70127,"position":4},"title":"HDB resale prices could bottom out in 2018","date":"January 26, 2018","format":false,"excerpt":"\r Analysts expect resale flat prices to remain flat this year. HDB resale flat prices fell by 0.2 percent in Q4 2017 from the previous three-month period. For the whole year, prices dropped by 1.5 percent, revealed more complete data released by the Housing Board on Friday (26 January). Resale\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":31940,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-market-shows-signs-of-stabilising\/","url_meta":{"origin":70127,"position":5},"title":"HDB resale market shows signs of stabilising","date":"October 28, 2016","format":false,"excerpt":"\r HDB resale flat prices appear to have bottomed out. Resale prices of HDB flats in the third quarter of 2016 remained unchanged from the previous three-month period, revealed more complete data published by the Housing Board on Friday (28 October). But resale transactions fell 5.5 percent from 5,838 cases\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/10\/HDB-resale-price-index-Q3-2016-1.jpg?fit=556%2C225&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/70127"}],"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=70127"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/70127\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/70128"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=70127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=70127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=70127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}