Private home sales fell by 44% in November

1,087 private homes excluding ECs were sold in November, a 44.2% fall from 1,948 in October, and a 36.1% from the same period in 2011. This is attributed to the lack of major launches (773 units, a 53% fall from October’s 1,633 units) and possibly the latest cooling measures. While there were no ECs launched in November, 179 ECs from earlier launches were sold. Including ECs, 1,266 homes were sold, compared to 2,624 in October, though demand remained high. 65% of the private homes sold excluding ECs were from the OCR. 20,879 private homes (excluding ECs) were sold by November 2012, and the year is expected to end with 21,000-24,000 homes sold. 3,672 EC units were sold in the same period, and the figure may exceed 4,000 by year end with 1,000-1,300 units sold in December. While prices are likely to continue their upward trend as a result of inflated land prices, sales volume is expected to fall to 16,000-18,000 units or even 10,000-12,000 units in 2013 if land sales stabilise.

(Source: Business Times)

Caution abounds in collective sales market

With the introduction of ABSD in December 2011, developers have increasingly turned towards smaller sites in 2012, and this is likely to continue in 2013. In particular, small-to mid-size land parcels of below $200 million are expected to be the most popular. While there were record deals such as the sale of Thomson View condominium at $712 psf ppr or $590 million, such cases are rare and attributed to its proximity to the newly announced Upper Thomson MRT station , or the need of some developers to replenish their land banks. 24 sites were transacted year-to-date at a total value of around $2 billion, compared to the 51 sites transacted at $3.2 billion last year. Only three out of the 24 sites sold were in the prime districts; this due to the smaller demand for homes in such districts as a result of the cooling measures.

(Source: Business Times)

Last two 99-year H2 GLS residential sites released

The first is a 1.2-hectare confirmed-list site located along Commonwealth Avenue, next to Queenstown MRT Station with a 4.9 GPR allowing it to potentially yield 700 units in a condominium over 40 storeys. The expected top bid for the site ranges from $700 psf ppr to $1,100 psf ppr from five to 10 bidders. It is expected to be highly popular since it is located in a mature estate. The tender will close on Feb 5 2013.

The second is a 2.6-ha reserve-list site in New Upper Changi Road, next to Tanah Merah MRT Station. It can potentially yield 600 units. It is expected to attract 10 bidders with a top bid of $780-$830 psf ppr if launched now.

(Source: Business Times)


MTI to release 22 industrial sites in H1 2013

The 22 sites (13 confirmed-list sites and nine reserve-list sites) have a total site area of 24.84 hectares. To ensure that genuine industrial end-users get factory space that meets their needs, certain sites a subject to a minimum number of large factory units. All 13 confirmed-list sites are zoned B2, possibly due to the already ample supply of B1 industrial sites. Of these sites, eight are under 1.0 ha; six of which are 22-year leasehold 0.5ha sites with a 1.0 plot ratio located in Tuas South. Such small sites can draw five-19 bids with top bids of $30-78 psf ppr, under $10 million. The nine sites on the reserve list include five small sites on Tuas South Street 6 and Street 8) have debut on the reserve list and four larger 30-year leasehold sites.

(Source: Business Times)

URA releases last 2 commercial sites under GLS

The first is a confirmed-list 1.1-ha site on Venture Avenue near Jurong East MRT Station. It can yield a 25-storey development with a maximum GFA of 694,939 sq ft, of which 90% must be set aside of offices that can be strata sub-divided. It is expected to attract five to eight bids with a top bid of $700-800 psf ppr.

The second is a reserve-list 0.8-ha site located at Cecil Street/Telok Ayer Street near Tanjong Pagar MRT Station which can support a 50-storey development with a maximum GFA of 830,510 sq ft. The site zoned for commercial and open space use may attract three to six bids with a top bid of $800-1,000 psf ppr, if triggered for sale.

(Source: Business Times)

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