{"id":75061,"date":"2017-12-21T03:00:40","date_gmt":"2017-12-20T20:00:40","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-december-2017\/"},"modified":"2017-12-21T16:03:15","modified_gmt":"2017-12-21T09:03:15","slug":"news-roundup-december-2017","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-december-2017\/","title":{"rendered":"News Roundup (December 2017)"},"content":{"rendered":"


\nOur top Singapore property stories.
\nGovt unveils land sales programme for first-half 2018
\nSix 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.
\nThese land parcels could potentially yield approximately 8,045 private homes and 63,960 sq m of commercial space.
\nThe confirmed list sites are mainly intended for private homes, including one for executive condominium (EC) development. These are expected to generate about 2,775 private units (including 450 ECs) and 4,450 sq m of commercial space.
\nAmong the confirmed list sites, the plots at Cuscaden and Mattar Road are expected to be the most sought-after due to their location and size, said Edmund Tie & Co\u2019s research head Dr Lee Nai Jia.
\n\u201cFor the Cuscaden site, we expect bids of around $1,600 to $1,750 psf per plot ratio (psf ppr), while bids at Mattar Road should range from $1,200 to $1,400 psf ppr.\u201d
\nThe URA also revealed details of the reserve list sites, which consists of one commercial site and eight private housing plots, including two EC sites. These are expected to yield 5,270 private homes (including 1,255 ECs) and 59,510 sq m of commercial space, mostly for offices.<\/p>\n

New home sales set to cool
\nExcluding executive condominiums (ECs), private home sales in Singapore increased slightly to 785 units in November 2017 compared to 760 units in the month before, according to data from the URA.
\nOn a monthly basis, this represents a 3.3 percent gain versus the 15.7 percent growth seen in October, said OrangeTee. On a yearly basis, it translates to an 8.7 percent drop, but this is an improvement from the 39.3 percent plunge seen in the preceding month.
\nFor the first 10 months, private home sales surged by 31.6 percent compared to the same period in 2016, noted the consultancy.
\nIn November, the best-selling project was Parc Botannia in the Outside Central Region, which found buyers for 253 units at a median price of $1,287 psf.\u00a0 Second was Queens Peak in the Rest of Central Region, which moved 71 units at $1,694 psf. The third was Kingsford Waterbay in the Outside Central Region, where 38 units changed hands for $1,346 psf.
\nFor the whole of 2017, Mohamed Ismail, CEO of PropNex Realty, expects private home sales to surpass 11,600 units (excluding ECs), while EC deals could reach around 4,100 units.
\n\u201cSales performance in December and January will likely taper due to the seasonal school holidays and the start of a new year and lack of major projects slated for launch,\u201d he noted.<\/p>\n

HDB to maintain a steady supply of flats next year
\nThe Housing and Development Board (HDB) will maintain a steady supply of around 17,000 new flats in 2018, comparable to the 17,584 flats launched this year, National Development Minister Lawrence Wong revealed recently.
\n\u201cWe will continue to calibrate our flat supply carefully, taking into account underlying demand and the stability of the HDB resale market,\u201d he wrote in a blog post.
\nWong noted that about 1,000 flats will be launched in Yishun, Sembawang and Sengkang in the second half of 2018. The flats will have shorter waiting periods of around 2.5 years, instead of the usual three to four years for most other Build-to-Order projects.
\nNew flat buyers can expect a \u201cgood spread of projects across mature and non-mature estates, including flats in the new Tengah town\u201d.
\nFor 2017, Wong said the government was focused on helping first-timer families secure their own home.
\nTo help these couples better afford a flat in the open market, the government raised the Central Provident Fund Housing Grant from $30,000 to $40,000 or $50,000 in February.
\nThe enhanced grant has benefitted close to 6,900 first-timer households, said Wong.
\nThe government also raised the rent subsidies for the Parenthood Provisional Housing Scheme, benefiting around 840 households who are waiting for their new flats to be ready.
\nIn August 2017, the government also launched the first Re-offer of Balance Flats exercise for those with urgent housing needs, or who are not so particular about location.
\n\u201cWhile the flat selection exercise is still ongoing, about 800 households have already managed to book a flat.
\n\u201cAll these mean that young couples will have even more affordable and accessible housing options to start their marriage and parenthood journey early,\u201d shared Wong.<\/p>\n

En bloc sales still rising, highest in two years
\nThe number of collective sales deals in Singapore have already reached the highest level in two years, reported Singapore Business Review, citing a Cushman & Wakefield report.
\nCompared to one deal for the whole of 2015 and six in 2016, 20 existing housing projects with a total of around 2,900 units have changed hands via this method so far this year.
\n\u201cThe en bloc market has kickstarted a round of frenzy buying, as fence-sitters fear that private home prices could soon rise beyond their reach, once developers gear up for new launches next year,\u201d said Cushman\u2019s research director Christine Li.
\nMoreover, collective sales have already exceeded the $6.34 billion figure calculated by the property consultancy as of 15 November 2017.
\nAmong the top deals this year are the $728 million and $907 million sales of Pearlbank Apartments and Amber Park respectively, with the latter located on one of the biggest sites measuring 213,675 sq ft.
\nAccording to United Overseas Bank, the high number of successful en bloc sales could spur homeowners to jump on the bandwagon in an attempt to monetise their properties at a good price. The lender even thinks that the collective sales boom could extend for another 12 to 24 months with about 60 to 80 projects at some point in the collective sales process.
\nMeanwhile, the continued rise in en bloc transactions comes despite the central bank\u2019s warning that the redevelopment of these sites is expected to lead to an additional 20,000 new homes. This figure is projected to result in a two-fold surge in the number of unsold units entering the market over the next one to two years.
\nWith regards to the anticipated price hike stemming from the collective sales frenzy, National Development Minister Lawrence Wong believes that this may not happen as an uptick in valuation depends on demand\/supply factors during the launch of these new developments.<\/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 (December 2017)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Our top Singapore property stories. Govt unveils land sales programme for first-half 2018 Six confirmed...<\/p>\n","protected":false},"author":1,"featured_media":75062,"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-75061","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/12\/Amber-Park-e1513842219268.jpg?fit=620%2C310&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-jwF","jetpack-related-posts":[{"id":74514,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-unveils-land-sales-programme-for-h1-2018\/","url_meta":{"origin":75061,"position":0},"title":"Govt unveils land sales programme for H1 2018","date":"December 14, 2017","format":false,"excerpt":"\r Six confirmed list and nine reserve list sites will be launched under the H1 2018 Government Land Sales (GLS) programme, announced the Urban Redevelopment Authority (URA) on Wednesday (13 December). These land parcels could potentially yield approximately 8,045 private homes and 63,960 sq m in gross floor area (GFA)\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74508,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-unveils-gls-programme-for-1h-2018\/","url_meta":{"origin":75061,"position":1},"title":"Gov\u2019t unveils GLS Programme for 1H 2018","date":"December 14, 2017","format":false,"excerpt":"\r Six confirmed list sites and nine reserve list plots will be launched under the 1H 2018 Government Land Sales (GLS) Programme, announced the Urban Redevelopment Authority on Wednesday (13 December 2017). These land parcels can potentially yield a total of around 8,045 private dwellings and 63,960 sq m in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":59340,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ramped-up-land-supply-may-not-be-enough-for-developers-analysts\/","url_meta":{"origin":75061,"position":2},"title":"Ramped up land supply may not be enough for developers, analysts","date":"June 30, 2017","format":false,"excerpt":"\r \u00a0 Analysts believe the ramped up supply of development sites under the Government Land Sales (GLS) programme for H2 2017 is insufficient to meet the developers\u2019 demand for sites given the declining stock of unsold private homes. Announced yesterday, the H2 2017 GLS Programme comprise six sites on the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":70532,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chong-kuo-and-cuscaden-road-sites-released-for-sale\/","url_meta":{"origin":75061,"position":3},"title":"Chong Kuo and Cuscaden Road sites released for sale","date":"October 31, 2017","format":false,"excerpt":"\r Aerial view of the residential site at Chong Kuo Road off Sembawang Road. (Photo: URA) Two residential sites at Chong Kuo Road and Cuscaden Road have been released for sale under the second half 2017 Government Land Sales (GLS) programme, the Urban Redevelopment Authority (URA) said on Tuesday (31\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":81271,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-launches-prime-site-at-cuscaden-road-for-sale\/","url_meta":{"origin":75061,"position":4},"title":"URA launches prime site at Cuscaden Road for sale","date":"February 28, 2018","format":false,"excerpt":"\r Map showing the location of the Cuscaden Road site. Source: URA A plum residential site at Cuscaden Road in the Orchard area was launched for sale on Tuesday (27 Feb) under the confirmed list of the first half 2018 Government Land Sales (GLS) Programme, said the Urban Redevelopment Authority\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2018\/02\/Land-parcel-at-Cuscaden-Road.jpg?fit=794%2C436&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":88636,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-awards-tenders-for-three-gls-sites\/","url_meta":{"origin":75061,"position":5},"title":"URA awards tenders for three GLS sites","date":"May 18, 2018","format":false,"excerpt":"\r Map showing the location of the Cuscaden Road site. Source: URA The tenders for three sites at Cuscaden Road, Mattar Road and Silat Avenue have been awarded to the highest bidders, or in the case of Silat Avenue, its sole bidder, the Urban Redevelopment Authority said on Thursday (17\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\/75061"}],"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=75061"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/75061\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/75062"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=75061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=75061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=75061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}