URA has release MORE details 2nd Quarter 2007 Real Estate Statistics TODAY

The Urban Redevelopment Authority (URA) released today the real estate statistics for the 2nd Quarter 2007.

Click on the Link below for a detail Report:-

RELEASE OF MORE DETAILED DATA

URA released today more detailed data on the rentals of private residential and commercial properties, and vacancy rates of office and shop properties as part of the 2nd Quarter 2007 real estate statistics.

This will enable all of us to have a better picture of the private residential, office and shop sectors of the property market.

This information is the most detailed that URA has released so far.

Looking for Cluster Housing in Singapore??

I have consolidated the cluster houses in a catagory :

Strata-title Houses (Just click on this link for a complete list)

What so good about living in Cluster Houses/Strata-titled? Well.. this is a definite new kind of houses in Singapore. Many more will be upcoming in the months ahead of us.

” WHAT IS CLUSTER HOUSING? Cluster Housing is a marriage between conventional housing and condominium housing. Like conventional houses, all units have ground contact but with shared facilities similar to those found in condominiums. It uses the strata title arrangement to define the extent of the private areas and communal areas. The units are linked in clusters and may be arranged in different permutations, thereby giving rise to different layouts.

RATIONALE

• Adds Variety To Residential Environment

In view of the peculiar manner in which the housing units can be arranged, Cluster Housing adds variety to a residential environment.

• Additional Choice To Consumers

Cluster Housing increases the choice of housing types available in the market today. This new type of housing may be attractive to some people.

• Consistent Streetscape

Conventional housing like detached, semi-detached and terrace houses with multiple ownership of the streetblock frequently leads to an untidy streetscape due to numerous ad-hoc additions & alterations over time. However, as Cluster Housing is a strata-type development with collective ownership by all residents, a greater control over incompatible additions & alterations can be maintained. It can therefore give rise to greater consistency in the streetscape.”

Taken from URA

Siglap 33 : Cluster Bungalows in the EAST of Singapore

This is another development in the EAST. A whole new way of living. Located at Siglap area-the favourite landed housing area in the east.

Brief

wTenure – Freehold

wExpected TOP: March 2009

 

Total land area: 11,107 sq ft
2 Private carpark lot at Basement
Nearest MRT – Kembangan & Bedok

Development charge for new buildings up to 70% ( Wow… weeee..)

July 18, 2007
Development charge for new buildings up to 70%
THE Government has raised the Development Charge (DC) for new building projects to 70 per cent from 50 per cent. A land development charge is levied on developers when there is an increase in the value of land site due to rezoning. For example, if the rise in land value for a site works out to $2.4 million, the DC payable on this site would be $1.2 million based on the old rate. The revised 70 per cent rate would mean a DC of $1.68 million, which is up 40 per cent from $1.2 million. The change takes place from Wednesday. Property analysts say the move will take some heat off the en bloc frenzy, which has pushed up prices of such collective sales inrecent months as sellers will now get less. Developers’ land acquisition costs could rise and this could eat into the profit that homeowners can reap from the collective sale of their homes. In the stock market, investors also used the government’s move raising the property development charges as an excuse to sell across the board, given the currently rich valuations of Singapore equities. Property heavyweights City Developments fell $0.40 to $15.90, CapitaLand dropped $0.15 to $7.55 and Keppel Land lost $0.15 to $8.55. A statement from the National Development Ministry (MND) on Wednesday said the DC rates have been revised to reflect the appreciation in land value, and is a reinstatement of what it was in 1985. For land with title restrictions on the use and intensity, which are subject to a levy of Differential Premium by the Singapore Land Authority, it will similarly be adjusted to the 70% rate. The land value of a site can be enhanced due to the government’s action in rezoning the site to a higher value use or increasing the plot ratio. The DC system, where a part of the enhancement in land value is taxed, allows the state to have a share of the gains from the value enhancement arising from its grant of planning approval. he portion of the gain taxed by the government can then be used to offset expenditure on infrastructure movements, such as road and rail works, as well as utilities, to support the higher land zoning or intensification of land. Taken from The Straits Times

Dunsfold 18 : Cluster Bungalow in the North of Singapore

Beautifully located at Dunsfold Drive.

This Development has 18 units of Strata-titled Bungalow status each complete with private pool.

Located in District 12 right next door to Australian School.

Excellent choice location for expats with good rental return.

Talking… … recent Singapore Property market

There are plenty of talks about the Singapore Property market situation recently in the news.

I went into Mr Brown Show website and heard these 2 really funny show. Added so much fun in the real estate market. Click on the link to hear them.

1. En Bloc, En Bloc everywhere

2. HDB Prices : The “X Factor”

Thank you everyone at Mr Brown show.