Launch of reserve list site at Geylang East Avenue 1

Urban Redevelopment Authority (URA) Singapore to launch the tender for a Reserve List site at Geylang East Avenue 1, with a minimum bid of SGD 95,000,000. With a land area of about 0.62 ha, the residential site will have a maximum permissible gross floor area of 17,467 m2.

 

Lower property tax bills in 2014

Most owner-occupied homes in Singapore will pay lower property tax bills in 2014, news release by IRAS says. This is result of the Progressive Property Tax Rates announced in Singapore Budget 2013. All owner-occupied HDB flats and three quarters of owner-occupied private homes in Singapore will pay lower property tax in 2014. In total, 95% of owner-occupied homes will see lower property tax bills.

5RM HDB for Sale at Punggol

Six new BTO projects by HDB in Sep 2013

Singapore Housing Development Board (HDB) launches six new Build-To-Order (BTO) projects in Sep 2013 – Matilda Edge, The Verandah @ Matilda, Waterway View in Punggol, as well as Palm Breeze @ Yishun, Saraca Breeze @ Yishun and Khatib Court in Yishun. These BTO projects offer a total of 4,156 units of Studio Apartments, 2-, 3-, 4-, 5-room and 3Gen flats
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Serangoon Plaza on Sale

Serangoon Plaza, located at the junction of Serangoon Road and Syed Alwi Road (part of Mustafa, Singapore operates from Serangoon Plaza) has been put up for collective sale, as per news reports. The address location of Serangoon Plaza is 320 Serangoon Road and it’s a five-storey complex comprising of 128 units of retail and office space. With an area of around 68,521 sq ft and plot ratio of 3.0 under the 2008 Master Plan, the site has been zoned commercial. It could be redeveloped into a commercial project with a gross floor area (GFA) of up to 205,563 sq ft. The property carries a guide price of between S$360 million and S$368 million, which translates to S$1,751 - S$1,790 psf ppr.

Do you know that short term rentals in Singapore is illegal?

Home stay and short terms stays are common among visitors in different parts of the world, while this is illegal in Singapore. Many holidaymakers around the world uses Internet booking sites (like Airbnb, Roomorama, Travelmob and Wimdu) to stay in homes as a cheaper, and interesting alternative to hotels, including in Singapore. But authorities (like HDB, ERA, etc) have warned home owners in Singapore.

HDB (Singapore Housing Development Board) stepped up enforcement on illegal short term rental phenomenon in Singapore. HDB received 20 complaints from the public on short-term leasing in the year 2012. For the first 7 months of 2013, HDB received 11 cases. Six months is the minimum subletting period here in Singapore.

SGD 1.43 billion top bid for Yishun site

A mixed commercial and residential site at Yishun Avenue 2/ Yishun Central 1 drew five bids with a highest bid of SGD 1.43 billion. The bidding was closed on 6th Sep 2013. The site was launched for sale by HDB on 28th Jun 2013, the land parcel has an area of 41,084.9 sq m and maximum gross floor area (GFA) of 123,254.7 sq m, with a plot ratio of 3.0. The top bid was submitted by Frasers Centrepoint. This was followed by an offer from Far East Civil Engineering, Far East Orchard and Sekisui House at SGD 969.3 million. The lowest bid of SGD 704.5 million came from Yorkshire Investments and Yorkshire Trustee, units of CapitaLand.

The site’s integration with Yishun MRT station and bus interchange in future makes it a new focal point for Yishun. The site is offered on a 99-year lease, the site could also generate about 890 housing units.