{"id":72653,"date":"2017-11-23T17:00:36","date_gmt":"2017-11-23T10:00:36","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-november-2017\/"},"modified":"2017-11-23T17:03:23","modified_gmt":"2017-11-23T10:03:23","slug":"news-roundup-november-2017","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-november-2017\/","title":{"rendered":"News Roundup (November 2017)"},"content":{"rendered":"


\nOur top Singapore property stories.
\nSupply of private homes to soar over next 2 years
\nThe supply of private homes available for sale in Singapore is expected to surge by over two-fold in the next one to two years, National Development Minister Lawrence Wong revealed recently.
\nAccording to a Business Times report, he said most of the housing pipeline will come from redevelopment projects built on sites purchased via en bloc sales, in addition to residential plots acquired by developers through the Government Land Sales programme.
\nThis means there is ample supply to meet demand, so Singaporeans are advised to \u201cdo their homework carefully\u201d before buying a residential property.
\nFor instance, Wong noted that the overall vacancy rate for private houses here has surpassed eight percent for nearly two years at a current rate of 8.4 percent. The last time that it had remained at this high level was in 2005.
\n\u201cWhat this means is that, in terms of actual physical units, there are currently more than 30,000 vacant private housing units \u2014 all still looking for occupants. To put things in perspective, this is more than the total number of dwellings in the whole of Bishan today.\u201d
\nHe said this during the 58th-anniversary dinner of the Real Estate Developers\u2019 Association of Singapore.<\/p>\n

Developers must now study traffic impact for en bloc sites
\nResidential en bloc redevelopment proposals must now include a pre-application feasibility study (PAFS) to assess traffic impact and recommend car-lite measures, the Land Transport Authority (LTA) and Urban Redevelopment Authority (URA) said in a circular published on 13 November.
\nThis follows an increase in applications from developers for more housing units to be built on such sites, which could cause traffic problems in future.
\nEffective immediately, developers or property agencies acting on behalf of collective sales committees must submit a PAFS to LTA for evaluation and approval before submitting an outline application or development application to URA.
\nThe study, which is applicable to sites zoned residential, residential with commercial at the 1st storey and commercial & residential, is not required for proposals approved before 13 November.
\nInterested parties will need to engage an experienced traffic consultant to assess the estimated number of units that can be built, impact of traffic on nearby junctions, and propose car-lite initiatives, traffic demand management measures and\/or feasible transport improvement plans, such as setting aside land for road widening.
\nThe study will also reduce the need to revise development plans and expedite the approval process.
\nLTA and URA will continue to monitor and assess if there is a need to extend the PAFS to other types of developments in future.<\/p>\n

3 HDB flats resold for over $1 million
\nDespite a steady drop in HDB resale prices, at least three units in Holland Village and Commonwealth have been sold for more than $1 million so far this year, reported the Straits Times.
\nAccording to PropNex, one of them is a 36th-floor unit at Block 18D, Holland Drive that changed hands for $1.03 million in July. The other two are situated at Block 50, Commonwealth Drive. One fetched $1.028 million in August, while the other sold for $1.035 million in October.
\nPropNex property agent Michelle Chia, who was involved in the Holland Village deal, revealed that the unit was bought by a couple in their 20s, who were attracted by the \u201cmillion-dollar view\u201d of the landed properties in the vicinity and the flat\u2019s proximity to amenities like the Holland Village MRT station.
\nSurprisingly, the trio are just regular HDB flats and are not among those that have often commanded high prices, such as units in Pinnacle@Duxton, executive apartments, and homes constructed under the Design, Build and Sell Scheme (DBSS).
\nFor instance, a DBSS penthouse at Bishan\u2019s Natura Loft was sold for $1.18 million in February.
\nA Pinnacle@Duxton flat that fetched $1.12 million set a record for the most expensive HDB resale transaction last year, while a five-roomer at Clementi Towers went for $1,005,000.
\nWhile Clementi Towers was the first HDB development integrated with a shopping mall and bus interchange, HDB blocks in Commonwealth and Holland Village don\u2019t enjoy such features as they were intended to house those displaced by the Housing Board\u2019s Selective En Bloc Redevelopment Scheme (SERS).
\nMeanwhile, a spokesperson from PropNex noted that an HDB flat at Block 18C, Holland Drive changed hands for $975,000 in August.
\n\u201cWe can expect prices at this block to be around this rate, possibly crossing the million-dollar mark again in the near future, as buyers are prepared to pay over $1 million for the units\u2019 size and their central location,\u201d said the spokesperson.<\/p>\n

GuocoLand lauded as Asia\u2019s top developer
\nGuocoLand was recognised as the region\u2019s Best Developer at the recent PropertyGuru Asia Property Awards Grand Final held at Marina Bay Sands, after being named as Singapore\u2019s top home builder in the local leg of the awards.
\n\u201cOne of the Singapore\u2019s leading developers, GuocoLand believes that every project should possess \u2018poetic ambience\u2019 and offer a lifestyle that\u2019s comfortable and usable. GuocoLand achieves its goal by incorporating well-designed public spaces, sustainable and green amenities, and choosing the most premium locations for the benefit of consumers,\u201d said the judging panel.
\nNot only was its GuocoTower project hailed as Asia\u2019s Best Office Development, its Tanjong Pagar Centre was crowned as Singapore\u2019s Best Green Development, with the latter\u2019s Wallich Residence component securing the top local prize for luxury condominiums.
\nOther local regional winners were Stars of Kovan by Property Enterprises Development, which bagged the Best Residential Interior Design in Asia, while High Park Residences by Fernvale Development was recognised for the Best Landscape Architectural Design.
\nOverall, Singapore received the most number of regional awards (four), followed by Macau (three). Vietnam, Thailand, Indonesia and the Philippines each got two. Hong Kong and Malaysia each won one.
\nThe PropertyGuru Asia Property Awards Grand Final presented a total of 17 regional prizes. It was even bigger this year as 33 local awards were handed out to new participating markets, namely Mongolia, Sri Lanka, Hong Kong and Macau.<\/p>\n

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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 (November 2017)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Our top Singapore property stories. Supply of private homes to soar over next 2 years...<\/p>\n","protected":false},"author":1,"featured_media":72654,"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-72653","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\/2017\/11\/Asia-Property-Awards-Singapore-Guocoland.jpg?fit=609%2C406&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-iTP","jetpack-related-posts":[{"id":71861,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/supply-of-private-homes-to-soar-over-next-2-years\/","url_meta":{"origin":72653,"position":0},"title":"Supply of private homes to soar over next 2 years","date":"November 15, 2017","format":false,"excerpt":"\r The supply of private houses available for sale in Singapore is expected to surge by over two-fold in the next one to two years, revealed Minister for National Development Lawrence Wong on Tuesday (14 November). In a report by the Business Times, he said most of the housing pipeline\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101328,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-cooling-measures-averted-a-10-15-growth-in-home-prices\/","url_meta":{"origin":72653,"position":1},"title":"Property cooling measures averted a 10-15% growth in home prices","date":"November 16, 2018","format":false,"excerpt":"\r National Development Minister Lawrence Wong clarified that the government wants to stabilise the property market so that prices may move broadly in line with income growth. While developers may want a \u201ccomplete laissez faire situation\u201d of allowing \u201cthe market to run its own course\u201d, the government cannot take a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":134973,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/terra-hill-sells-38-of-units-during-launch-30-housing-projects-face-sales-deadline-in-2023-and-more\/","url_meta":{"origin":72653,"position":2},"title":"Terra Hill Sells 38% of Units During Launch, 30 Housing Projects Face Sales Deadline in 2023, and More","date":"February 27, 2023","format":false,"excerpt":"\r Terra Hill Sells 38% of Units During Launch, 30 Housing Projects Face Sales Deadline in 2023, and More21st\u00a0February to 27th February 2023 Freehold luxury project Terra Hill sold 102 units or 38% of its 270 units at an average price of $2,650 per sq ft (PSF) during its launch.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2023\/02\/68784216_s-Cropped.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":87773,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/occupancy-rate-of-high-end-homes-down\/","url_meta":{"origin":72653,"position":3},"title":"Occupancy rate of high-end homes down","date":"May 11, 2018","format":false,"excerpt":"\r View of high-end homes in Singapore. Despite the positive sentiment in the residential market, the occupancy rate in the high-end residential segment hit an almost three-year low, falling marginally by 0.4 percentage points to 88.4 percent in the first quarter of 2018, reported Singapore Business Review citing OrangeTee &\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":75061,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-december-2017\/","url_meta":{"origin":72653,"position":4},"title":"News Roundup (December 2017)","date":"December 21, 2017","format":false,"excerpt":"\r Our top Singapore property stories. Govt unveils land sales programme for first-half 2018 Six confirmed list and nine reserve list sites will be launched under the H1 2018 Government Land Sales (GLS) programme, the Urban Redevelopment Authority (URA) announced in December. These land parcels could potentially yield approximately 8,045\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/12\/Amber-Park-e1513842219268.jpg?fit=620%2C310&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":73401,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-points-to-risks-in-the-singapore-property-market\/","url_meta":{"origin":72653,"position":5},"title":"MAS points to risks in the Singapore property market","date":"December 1, 2017","format":false,"excerpt":"\r The recent surge in collective sales poses potential risks to the stability of the local property sector. Hence, market players should proceed cautiously, according to the 2017 Financial Stability Review (FSR) published by the Monetary Authority of Singapore (MAS) on Thursday, 30 November. \u201c20 residential projects totalling about 2,900\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\/72653"}],"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=72653"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/72653\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/72654"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=72653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=72653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=72653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}