Blog

Singapore New Launch And Condo

Come and find out about new launch and condo news in Singapore! Subscribe to our blog now for more latest property information.

Author

Sengkang condo to offer bicycle-sharing facility

Posted by Singapore Property Launch on 13th July 2015 in Blog

Riverbank Fernvale Condo perspective 5

A novel bicycle-sharing facility is set to be launched at Riverbank @ Fernvale, a condominium project in Sengkang expected to be completed by early 2017, reported Today Online.

Under the scheme, residents can book bikes for free, which they can use on short commutes to nearby train stations or to travel around the estate.

Residents can cycle along the North Eastern Riverine Loop park connector, which links four parks within the area and runs through the heartlands of Punggol, Buangkok and Sengkang.

They will also have access to Lorong Halus Wetland, Punggol Promenade and Punggol Beach.

UOL Group, the developer of the 555-unit condominium, said it will supply a pool of 50 bicycles that can be shared among residents and bicycle racks for those who have their own bicycles.

To be administered by the managing agent of the estate, the facility will have an initial cost of around $80,000. It will also have a running cost.

“By incorporating a bicycle facility that links seamlessly to the future park connector, we can encourage more residents to cycle for a healthy lifestyle and enjoy family bonding at the same time,” said Anthony Wong, general manager of marketing at UOL Group.

“If response is good, we will add more bicycles for the residents. We are also considering extending the facility to other condominiums where conditions are as conducive, in the future,” he added.

Image: Artist’s impression of the upcoming Riverbank condo in Sengkang.

Credits: propertygurua

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...
Author

Prime rents down almost 5% from last year

Posted by Singapore Property Launch on 8th July 2015 in Blog

Prime rents down almost 5percent from last year

Rents of prime residential properties in Singapore fell 4.9 percent in the last one year to Q1 2015, according to the latest Knight Frank Prime Global Rental Index which tracks 18 cities.

On a quarterly basis, rents of high-end units in the city-state dipped 1.9 percent in Q1 from the previous three-month period.

A report by Colliers International in April noted that the slowdown in demand for luxury properties is putting pressure on an already weak leasing market.

It stated that newly completed homes and unsold inventory are competing with existing stock to vie for a limited pool of tenants who mainly comprise existing tenants searching for alternative accommodation. New expatriate arrivals also remained limited due to tight immigration policies.

Globally, Tokyo leads the other cities for the second consecutive quarter with prime rents up 8.1 percent from a year ago.

Knight Frank defines prime property as the top five percent of the housing market in each city.

credits: propertyguru

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...
Author

Delay in next BTO launch

Posted by Singapore Property Launch on 4th July 2015 in Blog

Delay in next BTO launch

Home buyers looking to apply for a Build-to-Order (BTO) flat in Bidadari will have to wait a while longer as the next BTO exercise has been pushed back from August to September this year, reported Channel NewsAsia.

The Housing and Development Board (HDB) attributed the delay to the ongoing consolidation of the two-room flat and studio apartment schemes, and the review on the higher income ceiling for BTO applications.

These plans were announced by National Development Minister Khaw Boon Wan in a radio interview on 23 June. He had hoped the changes would be in place for the next BTO exercise.

Despite the delay and HDB’s announcement that it will be trimming new flat supply from 16,900 to 15,000 units, the agency assured there will still be four BTO launches in 2015.

The first two BTO and sale of balance flat exercises offered 8,039 and 5,387 units respectively.

The September BTO exercise will be the third one this year, and will see HDB offering the first batch of flats in Bidadari estate, which includes 2,150 studio apartments and three- to five-rooms.

Image: Artist’s impression of the future Bidadari estate.

credits: propertyguru

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...
Author

Kong Hee’s home on sale for $10m

Posted by Singapore Property Launch on 3rd July 2015 in Blog

 

 

 

 

The luxurious family home of City Harvest Church (CHC) founder Kong Hee in Sentosa Cove has been put on the market for $10 million, reported The Straits Times.

In an online advertisement, the 11th-storey unit is simply described as: “Duplex penthouse with pool/jacuzzi. Views span city, marina and sea. Full resort-style condo facilities.”

While the ad does not reveal the identity of the owner, a check with the Singapore Land Authority (SLA) shows that The Oceanfront penthouse is co-owned by Kong and Indonesian magnate Wahju Hanafi.

Kong and five others are accused of misusing $50 million of church funds and falsifying church accounts to cover it up. They allegedly funnelled millions from the church’s building fund to the Crossover Project, with the aim of boosting the music career of Ho Yeow Sun, Kong’s wife.

Purchased in 2007 for $9.33 million, the 5,242 sq ft duplex features a roof terrace with a huge infinity pool. It also offers views of fireworks during festivities, luxury yachts entering the marina and the city skyline, said a property agent.

The master bedroom and three other rooms can be found on the first level, while the living and dining areas boast works of art and giant crystal light fixtures.

It is understood the apartment is being marketed by more than one property agent. Several offers have been made for the unit, but none have matched Kong’s asking price.

The last time an Oceanfront penthouse was sold occurred in April 2010. The 4,510 sq ft unit changed hands for $7.5 million or $1,663 psf.

credits: propertyguru

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...
Author

Queenstown site awarded to HY Realty

Posted by Singapore Property Launch on 1st July 2015 in Blog

Queenstown site awarded to HY realty

The HDB has awarded the residential site at Dundee Road to HY Realty Pte Ltd, after it submitted the highest bid of S$483.2 million.

Launched for sale on 29 April, the 10,516.1 sq m site has a maximum gross floor area of 51,528.89 sq m and a gross plot ratio of 4.9.

The 99-year leasehold site is located near the Queenstown MRT station and is expected to yield 645 housing units.

credits: propertyguru

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...
Author

New HDB scheme coming soon

Posted by Singapore Property Launch on 29th June 2015 in Blog

New HDB scheme coming soon

The housing board will be consolidating two-room flats and studio apartments under a single scheme, revealed National Development Minister Khaw Boon Wan in a Channel NewsAsiareport.

Speaking on Chinese radio station Capital 95.8FM, Mr Khaw said the new scheme, dubbed Two-room Flexi, will allow singles, senior citizens and low-income families to acquire two-room flats at flexible tenures, depending on their individual needs. He added that more details will be announced over the next few weeks, with the unified scheme expected to be launched during the next BTO exercise in August.

Currently, studio apartments are meant for seniors who have sold their previous flats to finance their retirement. These units come with a 30-year lease and are meant for those who are at least 55 years of age. Two-room flats, which come with a 99-year lease, are meant for singles or families.

There is a need to unify both schemes, since two-room units and studio apartments tend to be of a similar size, said Mr Khaw. However, the tenure a home buyer is eligible for will depend on his age.

“One example is (this): should we allow a young couple to buy a 50-year lease because they think the price will be (cheaper)? While the price may be cheaper for them, our worry is 50 years is too short for them, because if they are, for example, 25 years old, in 50 years, by the time the lease runs out, they will be 75 years old,” he explained.

“And the key is, even with a 99-year lease, because of the very heavy subsidy we are granting to first-timers, they can well afford it. It’s much better that they buy a 99-year lease; if that is the outcome we desire, I think we have to make sure there are restrictions. Such people will not be allowed to buy homes with a lease shorter than 99 years,” added Mr Khaw.

credits: propertyguru

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...