Property portal 99.co presents the following weekly property news roundup for the week of 11 to 17 July:
#1: New private home sales increase significantly in June
Developers sold a total of 998 new private home in June, compared to 486 units in May. The 998 units sold is the highest number of units transaction in the same month in seven years. According to the Urban Redevelopment Authority, 92% of the units transacted comprise of homes in the Outside Central Region (OCR) and Rest of Central Region (RCR).
On average, buyers are also spending more on a property; 13% of new homes sold in June were at $2 million or above, compared to 5% in May.
Meanwhile, transactions for resale condo units and private apartments also picked up in June. In total, 497 resale condo units were sold, compared to 181 units in May—an increase of 174%.
Read our analysis on June’s new home sales here.
#2: A Geylang mixed-use property is up for en bloc
Following in the footsteps of Wing Fong Court and Wing Fong Mansions, another property in Geylang is up for en bloc sale. Residents of Green Court—which is located along Geylang Road with rear frontage facing Lorong 26 Geylang—are asking for bids of at least $28 million for the freehold property.
Built in 1986, Green Court is a three-storey building with just six two-storey walk-up apartments on the second level and three commercial units on the ground floor. The development sits on a site with an area of 894.5 square metres (sq m), or 9,628 square feet (sq ft), and is located within a nine-minute walk of Aljunied MRT station.
Green Court was previously launched for sale by tender in January 2020, with owners also expecting offers above a $28 million reserve price. The top bidding developer will have to fork out an additional development charge of about S$5.24 million to maximise the gross floor area (GFA) to 28,216 square feet.
The tender exercise for Green Court will close at 3pm on 18 August.
[See all freehold condos for sale in Geylang.]
#3: Two freehold conservation shophouses at Lavender up for sale
Located at 52 Foch Road within the Jalan Besar Secondary Settlement Conservation Area, a pair of freehold conservation shophouses have been put up for sale with a guide price of $13.2 million by sole marketing agent Savills Singapore.
The two-storey shophouses each comprise of an attic with a four-storey rear extension. Currently, the property is tenanted to a coffee shop operator on the ground floor and office tenants on the upper floors. The site has a total built-up area of 8,417 sq ft on a 2,848 square feet site. The URA allows for an extension of up to six storeys.
The shophouses are zoned commercial according to the URA. Subject to approval, the space within the shophouses can potentially be used for F&B, gym, educational, retail, healthcare, medical, home and living, and lifestyle businesses.
Location-wise, the property is located just off Lavender Street and directly faces the Arc 380 retail-and-office tower. The shophouses are within a seven-minute walk to Bendemeer MRT station on the Downtown Line.
Expression of interest for the shophouses closes at 3pm on 17 August.
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