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SINGAPORE – Two freehold residential redevelopment sites located at Balestier have been put up for collective sale by tender, with Jones Lang LaSalle being the sole marketing agent for both properties.
The first site (site A) has a gross plot ratio of 2.8 and can be amalgamated with an adjoining piece of state land of about 1,439 square feet (sq ft) to yield a total gross floor area of 74,151 sq ft, or 88 home units with an average size of 800 sq ft.
The second parcel (site B) also has a gross plot ratio of 2.8 and can be combined with an adjoining parcel of state land of about 2,832 sq ft to be redeveloped into a 107-unit development comprising units of 800 sq ft, with a total potential gross floor area of 90,179 sq ft. Height-wise, the sites, located along 2 to 16 (even numbers only) Kim Keat Lane, 1 to 19, 21 and 23 Kim Keat Close, can be built up to a maximum building height of 36 storeys.
The indicative price range for the respective plots are in the region of $68 million (about $940 psf per plot ratio) for site A and $81 million (about $940 psf per plot ratio) for site B, subject to the tender process. The amounts have factored in a development charge of about $745,000 as well as a $4.45 million land premium, said Jones Lang LaSalle.
A total of 76 strata apartments and eight commercial units occupy the four blocks of three-storey buildings.
Said Stella Hoh, national director and head of investments at Jones Lang LaSalle: “The subject sites offer potential developers an opportunity to acquire two prime plots of land in the city fringe area. Potential developers have the flexibility to submit bids for either or both parcels of land.”
Located close to MRT stations such as Toa Payoh MRT Station, Novena MRT Station and Boon Keng MRT Station, consultants expect a healthy response to the tender which will close on March 1, 2012.
The executive condominium is usually found right in the heartlands. Many an executive condomnium is conveniently located near the town centre. This means amenities such as schools, eateries, shops and even a supermarket can be reached within minutes from the executive condominium.The executive condominium is much like the private condominium. The difference lies in the affordability of the executive condominium. There are however, some HDB procedures and policies to follow if you wish to purchase an executive condominium. Despite this, the executive condominium is in demand and the market for it will continue to grow. Catch the opportunity before it slips you by!
Located within Pasir Ris Town, this EC site is well-served by an efficient transport network that connects residents to the Pasir Ris MRT station and the Pasir Ris Bus Interchange. It is also located near the expressways like the TPE, ECP and PIE.Located fairly close to neighbourhood amenities (some minmarts, coffee shops etc)It is also within walking distance to Downtown East, where you find a NTUC and all kinds of F&B outlets.
Parents who need to put their kids into primary schools will be pleased to know that there are several school to choose like Casuarina Primary, Loyang Primary, Pasir Ris Primary and Coral Primary
The executive condominium is usually found right in the heartlands. Many an executive condomnium is conveniently located near the town centre. This means amenities such as schools, eateries, shops and even a supermarket can be reached within minutes from the executive condominium.
Executive Condominium (EC) site at the junction of Pasir Ris Drive 3 and Pasir Ris Link,
Register Your Interest For Pre Launch Preview
Please email me @ mark.tan@gps.com.sg for update on Executive Condo Launch and Project Info.
Plus SMS update you when more details of the new Pasir Ris EC launch is confirmed.
Real estate sales makes the most money compared to other Sales and marketing profession
Recession proof industry
Sales and management dual career path system
Requirements:
Applicants should be Singaporean citizens or hold relevant residence status
Fresh graduates / entry level applicants are encouraged to apply
Minimum 4 GCE ‘O’ levels required
With or without experience
***Passing of CEHA / CES / CEA house agent examinations***
***CEHA examination which will be recognised by CEA till end of 2012
Qualifications Equivalent to REA examination
Bachelor of Science (Real Estate)
National University of Singapore
Bachelor of Science (Estate Management)
Bachelor of Real Estate (Property Management)
Bachelor of Real Estate (Valuation)
Diploma In Building Management
Ngee Ann Polytechnic
Diploma In Building & Real Estate Management
Diploma in Real Estate Business
Diploma In Property Development & Facilities Management
Singapore Polytechnic
Diploma In Building & Property Management
1.
Holders of any diploma or higher academic qualification which has real estate as a major are advised to check with CEA whether they are required to take the REA/ RES examination.
2.
Individuals who have passed all 3 examinations in General Practice by the Royal Institution of Chartered Surveyors (RICS) will be considered as having obtained equivalent qualification to the REA examination.
3.
Holders of qualifications in non-real estate related fields such as business administration, economics, marketing, law etc will be required to take the REA/RES examination.
Any foreign / private school certificates must be submitted to CEA for approval by Approved Course Provider before you enroll for the course.
Join GPS Alliance
20% Advertisement discounts with logos and agent photo pics
Administration and finance department
Advertising and promotions department
Annually award convention
Attractive commission and excellent overriding structure
Coaching and training provided
Corporate advertisements on various medias
Corporate training
Free computerized financial and loan calculations
Free computerized properties available
Free computerized telephone home searches
Free computerized transacted prices
Project marketing opportunities and involvement
Referral fees from banks, contractors and movers
Free Web Page and Free Real Estate Internet Marketing software.
The executive condominium is usually found right in the heartlands. Many an executive condomnium is conveniently located near the town centre. This means amenities such as schools, eateries, shops and even a supermarket can be reached within minutes from the executive condominium.The executive condominium is much like the private condominium. The difference lies in the affordability of the executive condominium. There are however, some HDB procedures and policies to follow if you wish to purchase an executive condominium. Despite this, the executive condominium is in demand and the market for it will continue to grow. Catch the opportunity before it slips you by!
Located within Pasir Ris Town, this EC site is well-served by an efficient transport network that connects residents to the Pasir Ris MRT station and the Pasir Ris Bus Interchange. It is also located near the expressways like the TPE, ECP and PIE.Located fairly close to neighbourhood amenities (some minmarts, coffee shops etc)It is also within walking distance to Downtown East, where you find a NTUC and all kinds of F&B outlets.
Parents who need to put their kids into primary schools will be pleased to know that there are several school to choose like Casuarina Primary, Loyang Primary, Pasir Ris Primary and Coral Primary
The executive condominium is usually found right in the heartlands. Many an executive condomnium is conveniently located near the town centre. This means amenities such as schools, eateries, shops and even a supermarket can be reached within minutes from the executive condominium.
Executive Condominium (EC) site at the junction of Pasir Ris Drive 3 and Pasir Ris Link,
Register Your Interest For Pre Launch Preview
Please email me @ mark.tan@gps.com.sg for update on Executive Condo Launch and Project Info.
Plus SMS update you when more details of the new Pasir Ris EC launch is confirmed.
River Valley apartment sold en bloc for S$70.5m
By Julie Quek | Posted: 27 June 2011 1931 hrs
SINGAPORE : A 40-unit walk-up apartment at 402-414 River Valley Road has been successfully sold en bloc for S$70.5 million to Alliance Land.
This translates to a land rate of about S$1,139 per square foot per plot ratio, with a gross plot ratio of 2.8 for the 22,000-square foot site.
If the 10 per cent gross floor area for balconies is included, it will work out to S$1,035 per square foot per plot ratio, at a gross plot ratio (GPR) of 3.08.
According to marketing agent, Credo Real Estate, a new development built on the site can potentially yield an estimated 130 apartment units, averaging 500 square feet each, depending on layout and configuration.
Credo said the project is suitable for a boutique development with small apartment units, which will be popular with both local and foreign professionals and investors.
Owners of the district 10 property stand to receive gross sale proceeds ranging between S$1.75 million and $1.77 million each.
The sale is subject to the approval of the Strata Titles Board.
The site has a total gross floor area of about 68,000 square feet, including the 10 per cent gross floor area for balconies.
The existing development is understood to have been built in the early 1960s, making it part of the first generation of flat developments built in the post-colonial era of Singapore’s history.
Tenure for the site is rather unique – at 999,999 years with effect from 1962.
The rental prices fluctuate heavily depending on the supply and demand of the available units. The rental prices for private properties have in many places doubled in the last two years, as also happened during the 90’s property boom. The following table gives you a rough idea what you can expect with what kind of budget currently:
Location
Property Type
Rental Range
Central (Newton, Holland Village, River Valley, Orchard, Tanglin)
1-bedroom apartment
S$3,000 – S$7,000
2-bedroom apartment
S$3,500 – S$8,000
3-bedroom apartment
S$4,500 – S$10,000
Penthouse / 4+ bedrooms
S$6,000 – S$20,000
Terraced House
S$6,000 – S$25,000
Bungalow
S$15,000 – S$60,000
East Coast & Bukit Timah
1-bedroom apartment
S$2,500 – S$4,000
2-bedroom apartment
S$3,000 – S$5,000
3-bedroom apartment
S$3,500 – S$7,000
Penthouse / 4+ bedrooms
S$5,000 – S$15,000
Terraced House
S$7,000 – S$10,000
Bungalow
S$12,000 – S$40,000
Other Areas
1-bedroom apartment
S$2,000 – S$3,000
2-bedroom apartment
S$2,500 – S$4,000
3-bedroom apartment
S$2,800 – S$5,000
Penthouse / 4+ bedrooms
S$3,200 – S$8,000
Terraced House
S$5,000 – S$10,000
Bungalow
S$8,000 – S$20,000
Property Type – House Vs. Apartment
Expats typically live in either an apartment/condominium or a landed house. This is a matter of preference and budget. Typical condominiums in Singapore have multitude of facilities – e.g. swimming pool, gym, tennis courts, children playground, and BBQ pits. And they are usually within a walled compound with security guards around, although Singapore is not a dangerous place at all. Because the plot sizes are relatively small in Singapore, only the very luxurious landed properties have pools and other facilities. For somebody moving from a colder climate, you have to also remember that Singapore is in the tropics and there are more small animals (insects, geckos) around than you may be used to. These tend to cause more problems in landed properties, especially close to green areas. But if you have the budget, there are some very nice bungalows to live in that will give you the luxury and privacy that a condominium would not be able to do.
Transportation
Singapore has one of the most modern and best functioning transportation systems in the world, and travelling from any point in the island to another does not take long in normal conditions. Car ownership can be expensive in Singapore, but on the other hand the roads are good and less congested than in many other cities of similar population density. Public transportation is also very good, but tends to be more concentrated in areas where the Singaporeans live (close to HDB estates). In any case, unless you really live at the edge of Singapore, your commuting time would rarely exceed one hour.
Your main options for moving around are described below
Mass Rapid Transport (MRT)
MRT, Singapore’s metro/underground system, currently has 3 lines (4th being built currently). Our map search shows the location of MRT stations in Singapore. We will also give you details of the distance to the closest MRT station for each listing.
Aug 29, 2010
PM’S NATIONAL DAY RALLY
HDB to raise income ceiling
By Esther Teo
DBSS allows private developers to tender for state land to build public housing. They have flexibility in designing, pricing and selling the flats. — PHOTO: ST
THE Housing Board will raise the $8,000 income ceiling to $10,000 to give those caught in the ‘sandwiched group’ more housing options.
While the $8,000 monthly income cap remains for those buying Built-To-Order (BTO) flats, the ceiling for those buying flats under Design-Build-and-Sell Scheme (DBSS) will be upped to $10,000. DBSS gives private developers flexibility in designing, building pricing the units.
Prime Minister Lee Hsien Loong, who announced this at the National Day Rally on Sunday night, said the higher income ceiling will allow those caught in the $8,000 to $10,000 group to qualify for both DBSS and executive condominiums.
‘I think this group is quite anxious about falling in between, as they are not eligible for HDB and they can’t afford private property.. And because people are marrying a little bit later, so their incomes tend to be a little bit higher, so they worry that they will get promoted before they get settled. So we will do more to help them own their homes,’ he said.
Buyers of a DBSS will enjoy concessions given to those buying an executive condominium. They will be eligible for a housing grant and can arrange their own financing. While not quite doing away with the $8,000 ceiling cap, the new move, which many flat buyers have long clamoured for, will open up thousands of mid-priced units to the sandwich group.
A typical four-room BTO flat costs $300,000, a DBSS flat around $500,000 and an executive condominium around $700,000.
PM Lee also announced that the government will move to cool the private property market, but did not give details. ‘Otherwise you will remember nothing else about my speech,’ he said, to laughter from the audience at the University Cultural Centre.
The Ministry of National Development will announce details of the changes on Monday morning.
On public housing, PM Lee said the HDB will built 22,000 more BTO units next year. ‘So if you miss one BTO, don’t worry, the next one is coming… There are 22,000 new flats coming along and we don’t have 22,000 new couples getting married in Singapore every year,’ he said.
He added that the HDB will also speed up construction of flats and cut the waiting time, which averages three years now. He also assured flat buyers that HDB flats would be kept within reach of Singaporeans. The affordability of housing has been a hot-button topic this year, with many voicing concern over the surge in property prices.
PM Lee acknowledged that the influx of foreigners has impacted on housing demand, but he added that it was not the only factor. There were broader economic forces at work, he said.
