5,200 homes launched in August BTO exercise, first re-offer of balance flats

SINGAPORE: A total of 5,291 flats were put up for sale by the Housing and Development Board (HDB) on Tuesday (Aug 1), and it also marks the launch of the first Re-Offer of Balance Flats (ROF) exercise.

Under the Build-To-Order (BTO) exercise, 3,897 flats were put up for sale, and these range from two-room Flexi to five-room flats. They are spread across three projects in the non-mature towns of Bukit Batok and Sengkang, the housing board said in its press release.

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‘Mega launch’ of 12,000 HDB flats to take place in 2nd half of Nov

‘Mega launch’ of 12,000 HDB flats to take place in 2nd half of Nov | channelnewsasia.com

To allow prospective flat buyers more time to consider the “wide range” of flats offered, HDB will extend the application period for the sales exercise to 10 calendar days, up from the usual seven calendar days.

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For Rent – Condominium / HDB

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  • Blk/Street : Rivervale Crest Condominium, Sengkang;
  • Type : Condominium / 3-Bedroom;
  • Asking : SG$ 2,900;
  • Description: 3 bedroom; High floor; Pool facing; Fully furnished; All races; Available immediately;

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  • Blk/Street : Hume Park II, Bukit Batok;
  • Type : Condominium / 3-Bedroom;
  • Asking : SG$ 2,900;
  • Description: 3 bedroom; Mid floor; Fully furnished; All races; Available immediately;

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  • Blk/Street : 770 Pasir Ris Street 71;
  • Type : HDB 4A / 3-Bedroom+1;
  • Asking : SG$ 2,400;
  • Description: 3 bedroom+1; Air-conditioned; Fully furnished; All races; Available December’15;

Other units for rent:

  • Axis @ Siglap
    818sf 2 bedrms + 2 baths PF $2800/mth;
    Available immediate;
  • Espada
    355sf 1 bedrm + 1 bath FF $3000 nego;
    Available immediate;
  • Espada
    355sf 1 bedrm + 1 bath FF $2900 nego;
    Available immediate;
  • Kovan Regency
    775sf 2 bedrms + 2 baths FF $3100/mth nego;
    Available soon;
  • Montebleu
    1141sf 3 bedrms + 3 baths FF $5000/mth nego;
    Available from 30/11/15;
  • Skysuites 17
    613sf 2 bedrms + 2 baths FF $3100/mth nego;
    Available is after 13th Dec’15;

For viewing, please call:
Mobile: +65 8180 4135 or +65 8180 4136

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Property Update (15 July 2015)

Private property resale volume up 34% year-on-year in June: SRX Property | channelnewsasia.com

SINGAPORE : A total of 552 non-landed private residential units were resold last month, compared to 412 units in June 2014.


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No quick recovery for Singapore property market: seminar | businesstimes.com.sg

SINGAPORE : As Singapore faces a “new normal” of slower growth and even stagnation risks, the property market is unlikely to stage a major rebound even if some cooling measures are relaxed now, market watchers said at a property seminar on Tuesday.

Chua Hak Bin, head of emerging Asia economics at Bank of America Merrill Lynch, warned that Singapore may enter a period of stagnation over the next couple of years.

Recent alarm bells were sounded when employment growth contracted for the first time in the first quarter since the global financial crisis (GFC), loans growth contracted in May for the first time since the GFC, and Singapore’s inflation plunged to the lowest in five years, he said.

Some studies in the US have shown that macro-prudential measures such as housing loan-to-value ratios and stamp duties are more effective as tightening tools, but loosening these measures has less impact akin to “pushing on a string” in a downturn, Dr Chua said at the Real Estate Developers’ Association of Singapore (Redas) property market seminar.

Redas president Augustine Tan flagged that any recovery in the property market will not be brisk. “We have to brace ourselves for a different mode of operation as the real estate market enters a different period,” he told market practitioners at the seminar. “The build-up of the oversupply situation in the private residential market will not abate in the short term and recovery will not be a quick one.” Read more >>

A coffee shop in Bukit Batok Street 11 has reportedly been sold for $31 million - a record price for a Housing Board coffee shop.ST PHOTO: ALPHONSUS CHERN

A coffee shop in Bukit Batok Street 11 has reportedly been sold for $31 million – a record price for a Housing Board coffee shop.ST PHOTO: ALPHONSUS CHERN

Parliament: Record $31m price for Bukit Batok coffeeshop was an outlier | straitstimes.com

SINGAPORE : The recent record price of $31 million for the sale of a coffee shop in Bukit Batok and the $23.8 million transaction in 2013 for a coffee shop in Hougang are outliers, and their sellers are not speculators, Minister for National Development Khaw Boon Wan told Parliament today.

He was replying to a question from Workers’ Party Non-Constituency MP Gerald Giam on whether the Government was concerned about the high transaction prices, and what measures it was taking to mitigate their impact on rentals and cooked food prices.

The sale of Yong Xing Coffee Shop at Bukit Batok Street 11 made headlines last month. Its seller had bought the 4,521 sq ft coffee shop for $3.4 million nearly 20 years ago. Read more >>

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Asians buy more than property in Australia | asiaone.com

AUSTRALIA : Asian investors are moving beyond property and natural resources in Australia and looking at companies in the service, technology, agriculture and manpower sectors.

Other than attractive prices due to a depreciating Australian dollar, funds are cheaper to borrow due to lower interest rates. The proprietary technology available in Australian companies is also a reason for the increased interest.

Australian companies tend to attract Asian investors, who look at the potential of a business in the context of a much bigger Asian market, noted Mr Balaji Swaminathan, head of Australian bank Westpac’s international headquarters.

Infrastructure assets are also immensely popular with Asian investors, he added. “In the last 12 months, we have financed 11 out of the 12 infrastructure deals in Australia,” he disclosed. Read more >>