Development charges rise amid collective sale fever

The development charge (DC) rates for landed and non-landed homes have been raised amid collective sale fever and rising property sales.
The increase was highest for non-landed homes. DC rates for this segment was hiked by 13.8 per cent on average, with one sector – the Tampines Road, Hougang, Punggol and Sengkang area – receiving a 29 per cent rise.

The charges are levied by the Government for enhancing the use of some sites or building bigger projects on them. They are revised on a half-yearly basis by the Ministry of National Development (MND), in consultation with the chief valuer. Continue reading

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Uptick in land supply may be insufficient to meet developers’ demand for sites: Analysts

SINGAPORE – The Government has ramped up supply of development sites in the wake of bullish bids for plots and a declining stock of unsold private homes.

But analysts say the slight increase in land supply for the next six months may not be enough to meet developer demand.

There are 16 sites on the Government Land Sales programme for the second half of the year. They could accommodate up to 8,125 private homes, up from the 7,465 units offered in this half, the Ministry of National Development (MND) said on Thursday (June 29). Continue reading

Government increases supply of land for private housing; sites at Handy Road and Hillview Rise on confirmed list

SINGAPORE – The Government has raised the supply of land for private housing in the second half of 2017 in response to stronger demand from home buyers and declining unsold stock in the pipeline.

The six sites on the confirmed list of  Government Land Sales (GLS) Programme for the second half of 2017 include four private residential sites, one of which is an executive condominium site in Sumang Walk, the Ministry of National Development said on Thursday (June 29). The other two sites on the confirmed list are commercial and residential sites.

In all, the confirmed list yields 2,840 private housing units, 510 units or about 20 per cent more than the supply of 2,330 units in the first half-year. Continue reading

MND increases land supply for private homes in H2 2017

THE government will release land for up to 8,125 private residential units (including executive condo units) and 83,590 square metres gross floor area (GFA) of commercial space on both confirmed and reserve lists in the second half of this year.

This is higher than the 7,465 private housing units but lower than the 158,080 sq m GFA of commercial space for the current first-half Government Land Sales (GLS) Programme.

The Ministry of National Development (MND) said on Thursday morning that through the confirmed list it will release land for 2,840 private residential units and 26,800 sq m GFA of commercial space in the second half. Confirmed list sites are launched according to schedule regardless of demand.

On the reserve list, MND will offer land for 5,285 private residential units and 56,790 sq m GFA of commercial space, mostly for office use. Reserve-list sites are launched only upon successful application by a developer or when there is sufficient market interest in a site. Continue reading

HDB reminds EC developers against dangling pre-sale carrots

The authorities have weighed in on the issue of e-applications for executive condominiums (ECs), saying that developers of ECs are not allowed to offer incentives to buyers who have not booked units.

Developers are also required to engage independent auditors to audit their sale processes to ensure they fulfil their obligations. Continue reading

Government to release land for up to 7,550 private homes in second half of 2016

SINGAPORE – The Government on Wednesday (June 8) announced the second half of 2016 Government Land Sales (GLS) Programme, which comprises four Confirmed List sites and 11 Reserve List sites.

These sites can yield up to 7,550 private residential units and 277,100 square metres (sqm) gross floor area (GFA) of commercial space. Continue reading

Govt to help second-timers own homes

The Ministry of National Development (MND) revealed yesterday the details of the Fresh Start Housing Scheme, which aims to provide homes for second-timers, or households that previously enjoyed one housing subsidy but currently live in public rental flats.

Under the scheme, eligible families with school-going children will each be able to purchase a two-room Flexi flat in a Build-to-Order (BTO) or Sale of Balance Flats (SBF) sales exercise. Continue reading