MND to Consider Hints to Tackle HDB Lease Decay

, ,

Sengkang Grand Residences location map

Minister for National Development Lawrence Wong has reacted to two different coverage suggestions, stating that all other ideas and approaches to handle HDB apartment rentals will be considered from the authorities.

Like most condos in Singapore, all HDB flats in Singapore are constructed and marketed with first 99-year leases.

Get more information of the Sengkang Grand Residences location map by Capitaland & City Developments Limited (CDL).

To rackle the dilemma of HDB lease decay as well as the diminishing significance of older apartments The Workers Party indicated an alternate strategy to the current Selective En bloc Redevelopment Scheme (SERS), known as SERS Plus, reported The Straits Times.

Under this proposed strategy, affected residents will be ensured units in present Build-to-Order (BTO) in addition to Sale of Balance Flats (SBF) exercises, whereas the authorities need not procure a replacement website before the launch of SERS.

Architect Tay Kheng Soon, economist Yeoh Lam Keong and land adviser Ku Swee Yong, on the other hand, suggested a one-time automated rental top-up for maturing flats along with also a government-funded rebuilding of HDB flats each 100 decades.

In his blog post, Wong stated the Ministry of National Development (MND) will”consider all such opinions and thoughts, and examine them in detail”.

He noticed that the two proposals recognised”the need for urban renewal within our land-scarce town” in which”land could be recycled and fresh apartments constructed for centuries”.

“This is why a lot of our property is on a leasehold basis, be it for public or private housing properties,” he added.

/by

OCR Condos Led The Pick Out Last November’s Private Domestic Sales

, ,

Sengkang Grand Residences developer

Private home sales climbed between October and November, directed by transactions in the Exterior of Central Region (OCR) market. That’s pretty unusual for its year-end interval; but again, we have had some unusually good launches of late:

The pickup in November private house sales

Overall, this remains 4.5 percent under the amount of transactions from a year ago; nevertheless it’s a significant increase of about 23 percent since October.

View details about the Sengkang Grand Residences developer.

That is unusual in that the year-end interval is typically somewhat muted. The total amount of components unsold out of launches was 4,375 as of last month; and there have been 31,948 unsold units in total as of 30th September.

A Good Deal of powerful offerings in the market for property buyers today

2019 stands out to its large number of well priced, well-located condos on the market. Sengkang Grand Residences, that directed sales, is an integrated development that comprises a mall, a bus interchange, a community center, a childcare center, and is adjacent to Buangkok MRT station; a very good deal at a 1,700+ psf cost tag.

Parc Komo, at the Changi area, is also an integrated improvement. It comprises Komo shoppes, including enrichment colleges and cafes among other retail choices. It is the most affordable freehold condominium we have seen to date, at only around $1,450+ psf.

Welcome to city, Midtown Bay remains a popular subject (it is largely split in to two camps now — people who enjoy the newly launched Midtown Bay, and people who insist that the elderly Duo Residences is a much better alternative). That is, again, part of a integrated evolution, and it is situated near Bugis Junction and the soon-to-be-developed Tan Quee Lan Street plot. As soon as it’s a hefty $3,000+ psf, the growth has components that move as much as $1.38 million. A good deal of buyers also view this as a chance to jump onto the growing Rochor — Ophir corridor.

Also closer to city, the already iconic One Pearl Bank offered 80 percent of its own units at launch in July, at $2,400 psf.

You get the idea — there are a great deal of great options available right now, with strong locations and cost points. We must also note the absolute variety of new jobs in 2019 (51 new jobs in total), that is the maximum number in five years.

We may see a pickup in volume following year, provided the potential amount of upgraders

It is unlikely that costs will grow, given the present supply glut. This might be a large potential supply of upgraders, assuming they are not too spooked from the financial uncertainty.

As we have previously pointed out yet, it may be rough for costs to return as well — many improvements today are coming from this en-bloc congestion in 2017 to 2018, when programmers purchased land at a premiumprice. There simply is not much space for lower costs, so buyers should not be overly-optimistic about that.

/by