Singapore Property News (Apr 2017)

Singapore property news Apr 2017 - Makeover for Woodlands

Woodlands revamp: 10,000 new homes could be added

Woodlands could get almost 10,000 new dwelling units as part of the Housing Board’s Remaking Our Heartland (ROH) programme, which is poised to transform the entire town into a “Star Destination of the North”.

The Woodlands Central homes, to be integrated with commercial and community facilities, will be built near Woodlands MRT station. The authorities have yet to decide if these will be public or private units.

The HDB listed six “star attractions” to be rolled out in the 1,198ha town…

Singapore’s property prices to double by 2030: Morgan Stanley

“Property market bears expect slower population growth, an ageing population, and a structural growth slowdown to weigh on the long-term property market outlook,” the bank said. “We disagree and believe home prices will double by 2030.”

That implies a 5 to 6 percent increase per annum and would mark a reversal from a long downtrend in home prices.

The bank expected sales volume would surge this year, with the increases in transaction volumes to spur prices higher next year.

24 bids received for Toh Tuck Road site

The 99-year leasehold site in Upper Bukit Timah saw fierce bidding from developers looking to replenish their land banks.

A 1.87ha residential site at Toh Tuck Road in Upper Bukit Timah attracted overwhelming interest from property developers, with a total of 24 bids submitted after the tender exercise closed on Tuesday (11 April), said the Urban Redevelopment Authority (URA).

Malaysian developer S P Setia submitted the highest bid of $265 million for the plot, which works out to $939 psf per plot ratio (psf ppr).