POSTED: 31 Oct 2013 10:54 | CNA

SINGAPORE

The government has released two residential sites for sale on Thursday under the 2nd half 2013 Government Land Sales Programme.

These two sites can yield about 980 residential units.

The Housing & Development Board launched the executive condominium site at Westwood Avenue for sale under the Confirmed List.

The Urban Redevelopment Authority made the land parcel at Lorong Lew Lian available for application for sale under the Reserve List.

The site at Westwood Avenue is located near to the Pan Island Expressway and amenities such as Gek Poh Shopping Centre, Pioneer Mall, Jurong West Stadium and Jurong West Public Library.

The Lorong Lew Lian site is located in a residential estate near Serangoon Town Centre, NEX Shopping Mall and Heartland Mall and is accessible via Bartley and Serangoon MRT stations and the Central Expressway.

– CNA/xq

http://www.channelnewsasia.com/news/singapore/residential-sites-at/869070.html

 

By Chitra Kumar | POSTED: 31 Oct 2013 20:59 | CNA

SINGAPORE: Two residential sites have been released for sale under the Government Land Sales Programme for the second half of this year.

The two sites at Westwood Avenue and Lorong Lew Lian can yield about 980 homes.

The Westwood Avenue site in Jurong West is in close proximity to the Pan Island Expressway and near Jalan Bahar. It is for sale under the Confirmed List.

The site is earmarked for executive condominium (EC) development and some analysts said they expect to see strong interest from developers.

Nicholas Mak, executive director of research and consultancy at SLP International Property Consultants, said: “In the current market, there is a very strong demand for executive condominiums among home buyers. Hence I believe this site will attract much attention from developers.

“With the whole list of cooling measures as well as the TDSR (Total Debt Servicing Ratio) framework, some upgraders and home buyers are actually preferring to buy executive condominiums over mass market condominiums because they are able to get larger housing loans if they were to select a EC.”

The second site put up for sale is at Lorong Lew Lian, near Upper Serangoon Road and Upper Paya Lebar Road. It is for sale under the Reserve List.

– CNA/fa

http://www.channelnewsasia.com/news/singapore/2-residential-sites/869810.html