20-11-2021, 08:12 AM
FRI, NOV 19, 2021 - 5:03 PM UPDATED FRI, NOV 19, 2021 - 9:21 PM
WONG PEI TING
NISHA RAMCHANDANI
TWO freehold development land parcels at Thiam Siew Avenue, a residential street of landed homes adjacent to Tanjong Katong Road, have been sold for S$815 million to a joint venture between Hoi Hup Realty and Sunway Developments.
The deal marks the largest residential development site sold since the July 2018 round of property cooling measures, when the government raised Additional Buyer's Stamp Duty (ABSD) rates and tightened Loan-to-Value limits.
According to Savills, the land price of the 2.45 ha site, which has a plot ratio of 2.8, translates to about S$1,488 per square foot per plot ratio (psf ppr), after an estimated development charge of about S$284 million. The land rate works out to about S$1,440 psf ppr if a 7 per cent bonus on balconies is further taken into account, it added.
Rest of report at: https://www.businesstimes.com.sg/real-es...g-measures
WONG PEI TING
NISHA RAMCHANDANI
TWO freehold development land parcels at Thiam Siew Avenue, a residential street of landed homes adjacent to Tanjong Katong Road, have been sold for S$815 million to a joint venture between Hoi Hup Realty and Sunway Developments.
The deal marks the largest residential development site sold since the July 2018 round of property cooling measures, when the government raised Additional Buyer's Stamp Duty (ABSD) rates and tightened Loan-to-Value limits.
According to Savills, the land price of the 2.45 ha site, which has a plot ratio of 2.8, translates to about S$1,488 per square foot per plot ratio (psf ppr), after an estimated development charge of about S$284 million. The land rate works out to about S$1,440 psf ppr if a 7 per cent bonus on balconies is further taken into account, it added.
Rest of report at: https://www.businesstimes.com.sg/real-es...g-measures