Private home prices expected to rise by 3-10% in 2018 - PropertyGuru

Property prices in Singapore could rise at a median rate of 5.5 percent.

Analysts believe Singapore’s private housing market has indeed rebounded, with prices increasing for two straight quarters following a four-year slump.

In fact, a Bloomberg survey of 11 property experts revealed that private residential prices here are forecasted to rise at a median rate of 5.5 percent, or between three percent and 10 percent for the whole of 2018.

Moreover, the market recovery bodes well for the city-state’s home builders, which are set to report their financial statements next month. For instance, City Developments Limited (CDL) is expected to post an annual profit of $563.4 million, while UOL Group’s full-year net income is projected to rise by 9.4 percent.

“Despite the strong run last year, valuations are not yet stretched, particularly in comparison with past periods of a property upcycle,” said Janus Henderson Investors investment analyst Low Xin Yan, adding that the strong performance of property stocks will continue.

Meanwhile, Maybank Kim Eng Securities analyst Derrick Heng reckons that it is “far too early to be worried” over a potential supply glut due to ongoing en bloc sale frenzy, as the homes to be built on such sites won’t enter the market until 2020 at the earliest.

 Romesh Navaratnarajah • January 23, 2018

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

Source: PropertyGuru

HDB RESALE PORTAL – INTENT TO BUY/ SELL - FAQ - HDB

Register Intent

Q1: I have submitted the Seller’s Resale Checklist and it is still valid as at 1 Jan 2018.  Is there a need to for me to register an ‘Intent to Sell’?

A1 : No. However, you need to wait out the 7 days cooling-off period from the date of submission of the Seller's Resale Checklist, before granting an OTP.

Q2: I have done the Seller’s Resale Checklist more than six months ago and it has expired. I still want to sell my flat. What do I do next?

A2 : From 1 Jan 2018 onwards, you will need to register an Intent to Sell in the HDB Resale Portal. If there are more than one owner in your flat, only one of you need to login to the HDB Resale Portal to register the Intent to Sell. Thereafter, you need to wait out the 7-day cooling-off period before granting an OTP to the buyers.

Q3: I have submitted the Buyer’s Resale Checklist before 1 Jan 2018.  Is there a need to for me to register an ‘Intent to Buy’ before sellers grant me an OTP on or after 1 Jan 2018?

A3 : No. There is no need for you to register an Intent to Buy if you have a valid Buyer's Resale Checklist.

Q4: The sellers want to grant me an OTP on or after 1 Jan 2018, but I have not done the Buyer's Resale Checklist. What do I do?

A4 : Before the sellers grant you the OTP:

(a) You need to register an Intent to Buy in the HDB Resale Portal. If there are more than one buyer of the flat, only one of you need to login to the HDB Resale Portal to register Intent to Buy.
(b) If you intend to take an HDB housing loan for your flat purchase, you need to have a valid HDB Loan Eligibility Letter.  

Q5: The sellers grant me an OTP before 1 Jan 2018. I want to exercise the OTP on or after 1 Jan 2018, but I have not done the Buyer's Resale Checklist. What do I do?

A5 : Before you exercise the OTP:

(a) You need to register an Intent to Buy in the HDB Resale Portal. If there are more than one buyer of the flat, only one of you need to login to the HDB Resale Portal to register the Intent to Buy.
(b) If you intend to take a home loan for your flat purchase, you need to have a valid HDB Loan Eligibility Letter or a FI's Letter of Offer.

Q6: My salesperson has submitted the Resale Checklist for me but I did not endorse it by 31 Dec 2017. What do I do?

A6 : As you did not endorse the resale checklist by 31 Dec 2017, the resale checklist is not considered as completed and submitted. If you are a seller, you have to register an Intent to Sell in the HDB Resale Portal, and wait out the 7-day cooling-off period before granting an OTP to the buyers. If you are a buyer, you have to register an Intent to Buy in the HDB Resale Portal before sellers grant you an OTP.

Q7: After registering my Intent to Buy, I am guided to apply for an HDB Loan Eligibility (HLE) letter if I am getting an HDB housing loan. What if I want to get a loan from a FI? When must I have the HLE letter or FI's Letter of Offer (LO)?

A7 : From 1 Jan 2018 onwards, the sellers can grant you an OTP only after you have obtained a valid HLE letter from HDB. If you intend to get a home loan from a FI, you must have a valid LO before you exercise the OTP.

Request for Value

Q8: I have submitted a Request for Value. Where can I view the status of my request?

A8 : You can view the status via the HDB Resale Portal.

Q9: I am submitting a valuation request on 1 Jan 2018 for my transaction which was contracted on or before 31 Dec 2017. I note that I have to pay higher valuation fees. Why is that so?

A9 : For buyers who were granted an option on or before 31 Dec 2017, HDB will send such cases to the HDB's Panel of Valuers for a valuation. Buyers will have to pay $226.00 (3-room and larger flats) or $156.45 (1-/2-room flats) for the valuation.

For cases where flat sellers grant an OTP on or after 1 Jan 2018, the buyers who intend to finance the purchase of the flat using their CPF monies or a home loan must submit a request to HDB to confirm the value which forms the basis for home loan and CPF usage. The processing fee for the request is $120 (inclusive of GST). HDB will send them an email once the value is ready. Buyers can also check the status via the HDB Resale Portal.

Submit Resale Application

Q10: What is considered a complete resale application?

A10 : Flat sellers and buyers will have to submit their portions of the resale application separately. If you are the first party who has submitted your portion of the application, you should inform the second party so that he can submit his portion within seven days. The resale application will only be considered complete when HDB receives both portions of the resale application from flat seller and buyer.  

 

Q11: I am the second party who is doing my submission of resale application. After keying the OTP details, an error message "The information provided by buyers and sellers are different." popped up. I am then not able to proceed with the submission of my resale application. What is the problem?

A11 : The system will match the following information (Flat address, Resale Price, Option Fee, Deposit, Option Grant Date, Option Exercise Fee, OTP Serial No.) provided by the flat seller and buyer in their separate applications. Both flat seller and buyer have to provide consistent information relating to the resale transaction. If the second party receives the above error message, it means that the information provided by the second party does not tally with that provided by the first party. To proceed, please refer to the OTP that both parties have executed and check the information provided. In situation where the error is caused by the first party, you will have to inform HDB. You may contact our Customer Relations Executive at 6490 3626 (Mon - Fri from 8:30am to 5:30pm) to seek assistance for your submission of the resale application.

Q12: I am in the midst of filling up the resale application form and I realised that I do not have some of the information (such as spouse's income etc.) or documents (such as Divorce Certificate etc.) required. What can I do?

A12 : There is an option to allow you to save the application as draft (Save as Draft). You may then complete the application later for submission. The draft application will be saved for two weeks.

Q13: How do I submit a pair of contra case via the HDB Resale Portal?

A13 : For contra cases, there are 3 parties involved. Pls refer to the illustration below. 
As the contra party, Mr Koh will have to submit 2 sets of application; an application to sell his flat A and an application to buy flat B. The applications will have to be submitted separately.

In both applications, Mr Koh has to indicate that he is applying for "contra" and to provide the contra flat address.

	Mr Koh must indicate "contra" in his application & addresses of the flats he is selling & buying.
	Mr Tan & Mr Lim need NOT indicate "contra" in their applications.

All portions of the applications (by the 3 parties) have to be submitted within 7 days.

Q14: How do I submit application to buy Two Adjoining Flats under Conversion Scheme via the HDB Resale Portal?

A14 : Pls refer to the illustration below.

	Mr Koh must indicate "Buying adjoining flat under Conversion Scheme >> Two adjoining flats" in his application & key in the 2 flats addresses that he intends to buy.
	Mr Tan & Mr Lim need NOT indicate "conversion" in their application.

  

Q15: I have engaged the services of a salesperson. Can my salesperson submit the resale application and Request for Value on my behalf?

A15 : Yes. The salespersons can continue submitting a resale application and Request for Value via the e-Resale e-Service or Estate Agent Toolkit (for agencies which are subscribers).

Q16: Where can I view the status of my resale application?

A16 : You can view the status via the HDB Resale Portal.

Q17: How is the date of acceptance of resale application determined?

A17 : Once we have received the complete resale application from the flat sellers and buyers, we will verify the eligibility for sale/purchase and review the supporting documents submitted. If the application is in order, we will notify sellers and buyers of the acceptance of the application via SMS/emails, and post the application progress update in the HDB Resale Portal. The date of HDB's acceptance of the resale application marks the beginning of the 8 weeks processing time of the transaction.

Q18: How is the completion date determined?

A18 : The completion date is tentatively scheduled 8 weeks from the date of HDB's acceptance of the resale application. This date will be indicated in the letter of HDB's acceptance of the resale application. The sellers or the buyers may jointly decide to change the completion date and request HDB to make the change.

Acknowledge Resale Documents by Buyers 

Q19: With the removal of first appointment, how is HDB going to explain the financing details of my flat purchase to me?

A19 : The financial plan has been simplified. We will rely on the financing information provided by you in the resale application and draft a financial plan for your endorsement. It will be deposited on the HDB Resale Portal. You will need to log in to the HDB Resale Portal to endorse the financial plan.    

Q20: If I want to make changes to the draft financial plan, how can I do it?

A20 : You can revise your financial plan on the HDB Resale Portal, and endorse the revised financial plan.

Q21: What is the sequence of activities that I need to complete once the CRM has deposited the draft financial plan and resale documents in the HDB Resale Portal?

A21 : After the CRM has deposited the draft financial plan and documents on the HDB Resale Portal, you will need to endorse the financial plan and the CPF e-withdrawal, and fill up the Health Declaration Forms (HPS) if you need to apply for the CPF Board's Home Protection Insurance Scheme. Next, you will endorse the resale documents and make the necessary payments.

Acknowledge Resale Documents by Sellers 

Q22: With the removal of first appointment, how is HDB going to explain the details of the sale proceeds calculation to me?

A22 : The sale proceeds is calculated based on the resale price less the financial obligations you need to discharge, such as the outstanding home loan, CPF refund, etc. We will rely on the financial information provided by you in the resale application and compute the sale proceeds for you. The computation will be deposited in the HDB Resale Portal. You will need to log in to the HDB Resale Portal to endorse the sale proceeds calculation.     

Endorse Documents

Q23: Do I have to sign on the resale documents uploaded for my endorsement? 

A23 : No. We wil prepare the resale documents and deposit them in the HDB Resale Portal. You will endorse the resale documents online.

Q24: How will I be notified that the draft financial plan (or for sellers, the sale proceeds calculation) and resale documents are ready for my endorsement? 

A24 : An SMS will be sent to your mobile number registered with us, to inform you that the draft financial plan is ready for your endorsement. An email will also be sent to you if you have given us your email address.

Q25: If I have questions on the draft financial plan (sale proceeds calculation) or the resale documents, who can I contact to seek clarifications? 

A25 : You can contact the Customer Relations Manager (CRM) in charge of your application for clarifications. The CRM's details are provided on the HDB Resale Portal.

Q26: What must I do before I endorse the documents? 

A26 : You will need to read through the documents before endorsing them. As the documents are in pdf format, you can save a copy for reference.

Q27: The flat is bought (sold) with 3 other buyers (sellers). Are they required to endorse the documents as well?

A27 : Yes, the documents must be endorsed individually by all the buyers (sellers). The endorsement is sequenced based on the buyers' (sellers') information provided in the resale application. The HDB Resale Portal will also indicate the status of the whole endorsement process.

Q28: Are the Administrators and Executors able to endorse the resale documents on the HDB Resale Portal?

A28 : As long as the Administrators and Executors have a valid SingPass, they too can endorse the resale documents on the HDB Resale Portal.

Q29: What is the timeframe for me to endorse the proposed financial plan (sale proceeds calculation) and resale documents?

A29: You will be given 6 calendar days to endorse the draft financial plan (or sale proceeds calculation) and resale documents. We will send you an SMS indicating when you must complete the process.  

Q30: What happens if I have overlooked it and missed the 6 calendar days' deadline?

A30: We will send an SMS to remind you and give you 2 more calendar days to do it. We will also inform the other party (i.e. your sellers or buyers) of the extended deadline via SMS and email. If the documents are not endorsed, we will postpone the resale completion date.

Q31: What will happen if the other party fails to endorse the resale documents after the expiry of the extended deadline?

A31: Should any party fail to endorse the documents within the extended deadline, the resale completion date has to be revised. Our CRM will inform the sellers and buyers through SMS and email of the revised completion date.   

Payment

Q32: What about the payments such as conveyancing, title search and caveat fees that I need to make for my flat purchase?
What about the payments such as conveyancing and registration fees that I need to make for the sale of my flat? 

A32: You can make the payments online by using your Visa and Mastercard credit card. You will be directed by the HDB Resale Portal to make the payments once you have endorsed all the documents.

Resale Approval

Q33: I am taking a home loan from a FI to finance the flat purchase. My solicitors have informed me that they need the resale approval letter for the preparation of the legal documents. When can I expect to receive the approval letter?    

A33: You will receive the resale approval letter within 2 weeks after HDB's acceptance of the resale application. We will notify you via SMS and email.

Q34: I am taking an HDB housing loan to finance the flat purchase, when can I expect to receive the resale approval letter? 

A34: You will receive the resale approval letter within 4 weeks after HDB's acceptance of the resale application. We will notify you via SMS and email.

Q35: If I have applied for the CPF Housing Grant, will the grant approval be issued at the same time as the resale approval?

A35: As there are additional checks involved in the processing of CPF Housing Grants, the grant approval may be issued with or after the resale approval.   

Q36: How will I be notified that my resale application has been approved by HDB? 

A36: We will send an SMS and email to inform the sellers and buyers once the resale application is approved. The approval letter will also be available on the HDB Resale Portal.

Resale Completion

Q37: How will I be notified that my resale completion has been scheduled? 

A37: We will send an SMS to inform the sellers and buyers once the resale completion is scheduled. The completion date and time will also be available on the HDB Resale Portal.

Q38: I need to make balance payment on the completion day. How do I make this payment? 

A38: The payment advice will be made available on the HDB Resale Portal. You will need to print a copy and bring it along for payment before you meet up with our CRM.

Q39: Do I need to attend the resale completion appointment? 

A39: If you have appointed HDB to act for you, you will need to attend the resale completion appointment personally.

Q40: What do I do if i am unable to attend the resale completion appointment? 

A40: If you are unable to attend the resale completion appointment, you can contact our CRM who will advise you accordingly.

Source: HDB (20-Jan-2018)

New HDB resale portal to go live on Jan 1 - Channel NewsAsia

SINGAPORE: Starting from Monday (Jan 1), all new resale transactions would have to be submitted through a new Housing and Development Board (HDB) resale portal.

The portal, which goes live at 1pm, could see the time taken to complete a resale transaction cut by half. Currently, a resale transaction takes about 16 weeks and requires two appointments with HDB.

The move to streamline the resale process comes at a time when HDB is seeing more people performing property transactions without the help of an agent.

HDB said in 2010, about one in 10 people completed property transactions by themselves, without using an agent. The ratio rose to almost three in 10 people for the first half of this year. 

The initiative by HDB was lauded by a group of homeowners and property agents who were given a preview of the portal ahead of the launch. They described the portal as fast and easy-to-use.

Mr Xavier Chia, 31, a customer service officer said: “It’s convenient. So I don't really have to make appointments … if all the documentation is something I can do at my end, then I would have the freedom of time to actually do it at my own convenience.”

Mr Chia, who bought a new four-room flat in Boon Keng last December, added that the portal has made the resale process more “straightforward”, as he no longer has to access multiple e-services platforms on HDB’s website to conduct eligibility checks.

Another homeowner, Mr Randy Goh, said when he bought his Punggol flat earlier this year, it was difficult to find a common time with the seller to attend the first appointment with HDB together.

The 28-year-old sales executive said he and his wife had to take time off work to attend the appointment, which was simply to work out the seller’s sale proceeds and assess his financial plan.

But now, such eligibility checks would be integrated into the new portal. Both buyer and seller would only need to attend one appointment with HDB to complete the resale transaction by signing on the necessary documents.

IMPROVEMENTS CAN BE MADE

While the portal aims to provide greater convenience to flat buyers and sellers, Mr Chia and Mr Goh felt the portal would be more user-friendly if there are multiple language settings. Currently, it is only available in English.

The portal which requires all administrative fees to be paid online via a credit card, or NETS, could also become an issue for the elderly who may not know how to make payments online, said Mr Goh.

But HDB said those who are unable to make payments online could print a payment advice form and make the payment at HDB Hub within three days.

Mr Chia also felt more guidelines could be provided to help users fill up the online forms.

“While (the portal) lists the documents required, (it) may not necessarily guide users how they can fill it up,” he said. “If I have any questions … it will still lead me to call HDB, or make a visit to enquire more, or seek professional help from agents."

LESS PAPERWORK FOR AGENTS

Mr Nelson Lim, key executive officer of C&H Properties, said he believes the streamlined resale process will be well-received by agents as it reduces the amount of paperwork a property agent has to complete on behalf of their client.

But that does not mean agents will be made redundant, added ERA Realty Network’s key executive officer Eugene Lim.

Mr Eugene Lim said: “The admin part of the process is just a small part of the agent’s job. The agent is paid … to find the buyer who will pay the highest possible price for the resale property. It doesn’t match the seller, and someone who wants to buy a house, together. It is just an admin portal to facilitate what the (buyer or) seller needs to know, do, and execute."

Channel NewsAsia understands that the new portal allows property agents to submit the forms on their clients’ behalf.

However, some homeowners Channel NewsAsia spoke to said that with the convenience provided by the portal, they are likely to go agent-free in the future.

Source: CNA/mz
31 Dec 2017 01:12PM

By Rachel Phua


Read more at https://www.channelnewsasia.com/news/singapore/new-hdb-resale-portal-to-go-live-on-jan-1-9822898

Freehold Dunearn Gardens up for collective sale for $489 mil - EdgeProp

The freehold, 114-unit Dunearn Gardens has been put up for sale by tender on Jan 15 for $488.8 million. Including an additional charge of about $35.7 million for the intensification of the site to the maximum gross floor area (GFA), this translates into a land rate of about $1,962 psf ppr, according to the sole marketing agent Knight Frank.

Under the 2014 Master Plan, the site is zoned for Residential use with a Gross Plot Ratio of 2.8. The redeveloped site may potentially have a maximum permissible GFA of about 267,239 sq ft, yielding 354 new residential units sized at 753 sq ft. With the inclusion of a 10% bonus balcony GFA and a proposed plot ratio of 3.08, the land rate works is about $1,861 psf ppr, subject to approval.

The 114-unit Dunearn Gardens off Newton Road. (Picture: Knight Frank)

The high-rise development is situated on a 95,442 sq ft site, and comprises three adjoining residential blocks. The 114 apartments units range from 807 to 3,294 sq ft in size.

The Land Transport Authority has confirmed that a Pre-Application Feasibility Study on traffic impact will not be required for the site.

Located on Dunearn Road, and off Newton Road, Dunearn Gardens is close to St. Joseph’s Institution Junior and Anglo-Chinese School (Barker Road), as well as Catholic Junior College. It is connected via the CTE and PIE.

“We believe (Dunearn Gardens) is one of the last freehold high-rise residential development sites within 100m from Newton MRT station”, says Ian Loh, executive director and head of investment and capital markets at Knight Frank Singapore. With the current limited supply of new luxury residential projects, the new development will likely be highly sought after by home-buyers and investors, says Loh.

The tender will close on Feb 13.

By Timothy Tay / EdgeProp | January 15, 2018 5:28 PM MYT

Source: EdgeProp

DEAL WATCH: Parc Centros unit for sale at $1.08 mil - EdgeProp

On the market is a three-bedroom, 990 sq ft unit at Parc Centros that has an asking price of $1.08 million ($1,091 psf). The unit is owned by a Singaporean, according to Connie Lew, associate director at OrangeTee, who is jointly marketing the unit with Ronnie Ong, associate executive director at OrangeTee.

Lew says the fourth-floor unit is tenanted at a monthly rent of $2,400 until end-July 2018. “The tenant has been residing at the unit since Parc Centros received its Temporary Occupation Permit in 2016,” she adds.

The rent achieved by the unit was comparable to that garnered by similar-sized units at Parc Centros in 2H2017, according to rental caveats lodged with URA as at Jan 8. URA caveat data showed that 11 three-bedroom units of between 900 and 1,000 sq ft were leased at Parc Centros from July to November 2017 for $2,250 to $2,600 a month.

The three-bedroom unit at Parc Centros is tenanted at $2,400 a month until end-July 2018, says OrangeTee’s Lew (Credit: Albert Chua/The Edge Singapore)

Lew points out that the orientation of the units in Parc Centros has an effect on the asking price. “This unit has a south-facing balcony that opens up to views of greenery and is windy throughout the year,” she says.

Within walking distance of Parc Centros is Waterway Point mall, the retail component of mixed-use development Watertown. Waterway Point is a four-storey building with a net lettable area of 370,824 sq ft and is directly connected to the Punggol MRT station. The mall houses FairPrice Finest, a 1,500-seat Shaw Theatres as well as F&B offerings such as Cedele Bakery Kitchen, Din Tai Fung and the stalls within Cookhouse by Koufu.

“Demand for three-bedroom units at Parc Centros has picked up since the 992-unit residential component at the nearby Watertown was completed in September 2017,” says Ong. “The price for a three-bedroom unit at Watertown is higher than that at Parc Centros, and the amenities available to the residents of Watertown are just a short walk away from Parc Centros,” he adds.

ointly developed by Wee Hur Holdings and ZACD Group, the 618-unit Parc Centros comprises eight 16-storey blocks. Launched in July 2012, the condominium was fully sold by end-November the same year, according to developer sales data on URA’s website.

Parc Centros is located at the intersection of Punggol Place and Punggol Central and near F&B outlets at seafront dining destination The Punggol Settlement and Coney Island, a popular spot for cycling and nature enthusiasts as well as bird-watching aficionados.

Source: URA, EdgeProp

By Angela Teo / EdgeProp | January 14, 2018 9:00 AM MYT


Source: EdgeProp

Freehold Summer Green up for collective sale at $48.5 mil - EdgeProp

The freehold, 24-unit Summer Green residential development has been put up for sale by tender on Jan 12 for $48.5 million. This translates into a land rate of about $1,188 psf ppr, inclusive of a development charge of about $253,000, according to sole marketing agent Knight Frank.

The freehold, 24-unit Summer Green is up for sale for $48.5 mil, or $1,188 psf ppr. (Picture: Knight Frank)

The 13-storey development, located off Balestier Road, is situated on a 14,646 sq ft site. Under the 2014 Master Plan, it is zoned for Residential use with a plot ratio of 2.8. The site has a maximum permissible Gross Floor Area (GFA) of about 41,010 sq ft, and could be redeveloped into a residential project with 54 apartment units with an average size of 753 sq ft, subject to approval, says Knight Frank.

“We continue to see heightened interest for redevelopment sites, especially for boutique redevelopment sites with a Gross Development Value of below $100 million”, says Ian Loh, executive director and head of investment and capital markets at Knight Frank Singapore.

The tender will close on Feb 12.

By Timothy Tay / EdgeProp | January 12, 2018 12:28 AM MYT

Source: EdgeProp

Hollandia up for collective sale at $163 mil - EdgeProp

The 48-unit Hollandia has been put up for collective sale by tender on Jan 17 for $163.15 million. The price translates to a land rate of $1,515 psf ppr, according to sole marketing agent Savills Singapore.

The freehold, 48-unit Hollandia residential development. (Picture: Savills Singapore)

Built in the 1980s, the development in prime District 10 sits on a 53,505 sq ft, freehold site at the junction of Holland Road and Queensway. The site is zoned for Residential use under the 2014 Master Plan, and has a gross plot ratio of 1.6 with a 12-storey height limit. The site can therefore be redeveloped into a new development with GFA of 107,688 sq ft. Owing to the high development baseline, no development charge is payable even for the additional 10% GFA for balconies, says Savills.

The tender for Hollandia will close on Feb 28.

By Timothy Tay / EdgeProp | January 17, 2018 4:31 PM MYT

Source: EdgeProp

En bloc sale of Balmoral Gardens for $92 mil - EdgeProp

The 37-year-old Balmoral Gardens, located along Balmoral Road, has been put up for collective sale by tender, with Huttons Asia as the exclusive marketing agent.

The owners of Balmoral Gardens are expecting offers above $92 million. The price translates to a land rate of $1,872 psf per plot ratio (psf ppr) and includes an estimated $18.1 million development charge for intensifying the land use to the maximum gross floor area (GFA). An application to URA has been submitted to establish the amount of development charge payable.

The existing Balmoral Gardens is a freehold condo with just 40 units sitting on a land area of 36,752 sq ft. The site has a plot ratio of 1.6 and a height limit of up to 12 storeys. It’s zoned for residential use under the 2014 Master Plan.

All the owners have given their approval for the sale, and hence, the sale need not go through Strata Titles Board approval. A successful purchaser can take possession of the site upon the end of the vacant possession period to market and build the new development, according to Huttons.

The tender will close on Feb 7.

By Timothy Tay / EdgeProp | January 18, 2018 12:07 AM MYT

Source: EdgeProp

URA releases flash estimate of 4th Quarter 2017 private residential property price index - URA

Published Date: 02 Jan 2018

The Urban Redevelopment Authority (URA) released the flash estimate of the price index for private residential property for 4th Quarter 2017 today.

Overall, the private residential property index increased 1.0 point from 137.6 points in 3rd Quarter 2017 to 138.6 points in 4th Quarter 2017. This represents an increase of 0.7%, same as the 0.7% increase in the previous quarter (see Annex A [PDF, 13kb] and Annex B [PDF, 11kb]). For the whole of 2017, prices have increased by 1.0%, compared with the 3.1% decline in 2016.

Prices of non-landed private residential properties increased by 1.6% in Core Central Region (CCR), compared to the 0.1% increase in the previous quarter. Prices in the Rest of Central Region (RCR) increased by 0.2%, after registering an increase of 0.5% in the previous quarter. Prices in Outside Central Region (OCR) increased by 0.6%, after registering a 0.8% increase in the previous quarter (see Annex C [PDF, 12kb]). For the whole of 2017, prices in CCR, RCR and OCR have increased by 0.8%, 1.6% and 1.2% respectively.

The flash estimates are compiled based on transaction prices given in contracts submitted for stamp duty payment and data on units sold by developers up till mid-December. The statistics will be updated on 26 January 2018 when URA releases its full set of real estate statistics for 4th Quarter 2017. Past data have shown that the difference between the quarterly price changes indicated by the flash estimate and the actual price changes could be significant when the change is small. The public is advised to interpret the flash estimates with caution.

Source: URA

Flash Estimate of 4th Quarter 2017 Resale Price Index - HDB

Published Date: 02 Jan 2018

            HDB’s flash estimate of the 4th Quarter 2017 Resale Price Index (RPI) is 132.6, a decline of 0.2% over 3rd Quarter 2017 (see Annexes A1 and A2). Based on the flash estimate, the decline in resale flat prices for the whole year of 2017 is 1.5%.

2          The RPI provides information on the general price movements in the resale public housing market. The transacted prices of individual flats (by block and flat type) can be found via the e-services available on HDB’s InfoWEB.

3          The RPI for the full quarter, together with more detailed public housing data, will be released on 26 January 2018.

Upcoming Sales Launch

4          In 2018, HDB will launch about 17,000 new flats for sale.  For the first Build-To-Order (BTO) exercise to be launched in February 2018, HDB will offer about 3,600 flats in Choa Chu Kang, Geylang, Tampines and Woodlands.  More information on these BTO flats is available on the HDB InfoWEB.

Source: HDB