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1 Oct 2013

2 adjoining sites in Upper Serangoon View up for tender
99-year leasehold sites to generate total of 920 homes
Source: Business Times
By: Kalpana Rashiwala

The government has released two adjoining private housing sites in Upper Serangoon View fronting Sungei Serangoon for tender, the first under the second-half 2013 confirmed list.

Located about one kilometre from the Hougang MRT Station, the 99-year leasehold sites are estimated to generate a total of 920 homes.

Tenders for both sites will close on the same day on Nov 28, as "part of the Government's initiative to encourage more prudent bidding", Urban Redevelopment Authority said. Another pair of adjacent sites - in Choa Chua Kang Grove for executive condo development - are slated for release in December.

While some property consultants expect land-hungry developers to drive up interest and winning bids for the Upper Serangoon View sites, others suggest developers may be cautious and weigh demand first in this micromarket given the slew of launches in recent years.

Three residential sites up for collective sale
Owners of two plots looking to sell them collectively for $30m
Source: Business Times
By; Felda Chay

Three residential plots are up for sale by tender, with one located at the Kim Yam Road-River Valley Road junction and the other two sitting off Yio Chu Kang Road.

This is the fourth time that Riviera Point, a 33-unit residential development along River Valley, has been launched for collective sale by public tender. Its owners are now asking for offers in excess of $68 million - or $1,379 per square foot per plot ratio (psf ppr) - for the 14,580-sq-ft plot, which has a gross plot ratio of 3.38, according to marketing agent Jones Lang Lasalle (JLL).

In late 2011, Riviera Point's owners were asking for $70 million, or $1,420 psf ppr. The property was being marketed by Knight Frank then, and that was the last time its owners had tried to do a collective sale.

The land is zoned "residential". The existing development is a 12-storey apartment block built in the early 1990s and has an as-built gross floor area of 49,303 sq ft, or an equivalent plot ratio of 3.38.

Resale flat prices dip for first time since 2009: Q3 flash estimates

Source: Straits Times
By: Daryl Chin

Resale flat prices have dipped for the first time since the start of 2009 going by estimates by the Housing Board (HDB).

The resale price index in the third quarter of this year fell 0.7 per cent to hit 205.1.

Experts attributed this to earlier measures such as caps on the mortgage for loans, which resulted in lesser transactions overall.

HDB said it was on track to deliver 25,000 flats. About 5,000 in Bukit Batok, Hougang, Jurong West, Sembawang and Woodlands will be offered next month.