Tag Archives: MND

19 land sites released for sale; expected to yield 8,770 homes

Kallang Bay view

Nineteen land sites were launched for sale on Thursday (Dec 4) under the first half of the Government Land Sales (GLS) Programme for 2015.

The 19 sites – six Confirmed List and 13 Reserve List sites – can collectively yield up to 8,770 private residential units once developed, the lowest in five years.

These will include 1,010 executive condominium (EC) units and 265,000 square metres of gross floor area of commercial space, the Ministry of National Development (MND) said.

In October 2014, National Development Minister Khaw Boon Wan had said that the supply of sites under the GLS Programme will be reduced.

Confirmed List sites go on sale regardless of interest from developers, while Reserve List sites are triggered for a public tender only if a developer makes an acceptable opening offer.

The Confirmed List comprises six private residential sites, including one EC site in Choa Chu Kang. Altogether, the parcels can yield about 3,020 private homes, lower than the 3,915 units offered in previous land sales programme in the second half of 2014.

Property watchers said the reduction is expected.

Ms Chia Siew Chuin, director of research and advisory at Colliers International, said: “The Government is likely to have taken into consideration the upcoming supply and the fact that the sales market is very slow.

“All things considered, the Government would have then decided to pull back the number of supply in the private residential market.”

However, the significant drop in the number of ECs expected has taken property watchers by surprise.

Only one EC site is on the Confirmed List and it can yield up to only 490 units. This compares to the estimated 1,520 units that could be developed from the Confirmed List of the last land sales programme in the second half of 2014.

Real estate firm PropNex said this is due to the fact that second-timers will have to pay a resale levy when they buy an EC in future.

Mr Mohamed Ismail, CEO of PropNex Realty, said: “Therefore, the Government probably has been a little bit more cautious not knowing how the demand is going to be and not to flood the market.”

“The concern will only be because ECs are truly meant for the Singaporeans’ aspirations, and those who cannot afford private property. And I suppose overall, I think we need a healthy number of ECs, in the ballpark of about 3,000 every year,” he added.

The Reserve List comprises nine private residential sites, one commercial and residential site, two commercial sites and one White site – where multiple uses are permitted. These sites can yield about 5,750 private residential units.

“Supply from the GLS Programme, together with supply from projects in the pipeline, will be adequate to meet the demand for private housing and commercial space over the next few years,” MND said.

RESIDENTIAL SITES

The residential sites on the Confirmed List are located in the Outside Central Region and Rest of Central Region, the ministry said.

The commercial and residential site at Holland Road, originally placed on the second half of the 2014 Confirmed List, is the first sale site to be launched as part of the Holland Village Extension plan unveiled in the Master Plan 2014.

A Concept and Price Revenue Tender will be called for this site to ensure that the future development “enhances the unique charm and distinctive urban village character of the Holland Village Identity Node”, MND said.

It added that the site was transferred from the Confirmed List to the Reserve List to give developers more time to study the site and tender evaluation criteria before triggering it for sale.

COMMERCIAL SITES

A second commercial site in Woodlands Regional Centre at Woodlands Square has been released for sale under the Reserve List.

“This will sustain the development momentum of Woodlands Regional Centre as a major commercial node outside the city, in line with the Government’s objective of decentralising employment centres to bring job opportunities closer to homes,” MND said.

The Reserve List will have two other sites for predominantly office developments – a White site at Marina View and commercial site at Beach Road. Together with the Woodlands Square site, these sites will allow developers to initiate the development of more office space if they assess that there is demand, the ministry said.

Apart from the GLS Programme, the Government will also make available other supply of land and properties through its various agencies. These include localised retail facilities at parks, selected HDB estates, industrial estates, MRT stations, sport facilities, community centres and the leasing of vacant state properties for commercial uses, MND said.

http://www.channelnewsasia.com/news/singapore/19-land-sites-released/1508996.html

Consider rewarding parents to stay near children: MND

http://katonghomes.com/2014/07/17/mnd-considering-rewarding-older-couples-who-move-to-non-mature-estates/

Incentivising older couples to move out of mature estates to live with or near their married children in non-mature estates could be one way to help families stay closer to one another, said National Development Minister Khaw Boon Wan.

He cited this as a possibility to free up units in mature estates, so that more newlyweds can buy homes near their parents — allowing closer living between married couples and their parents was one of the Government’s goals set out in the President’s Address.

“If some parents for various reasons are quite prepared to leave their comfortable surroundings in a mature estate to non-mature estates with their children, I think we should try to facilitate and, perhaps, even reward them,” he said.

Mr Khaw was speaking at the fourth and final focus group session his ministry held on Tuesday, to find out the preferences of young and old couples for living close together, as well as possible policy changes to meet the demand.

Although participants of the focus group discussions had reacted coolly to the possibility of building more Three-Generation (3Gen) flats to allow families to live together, Mr Khaw noted that there is still a minority who wish to do so and added that such flats will continue to be rolled out — albeit at smaller numbers.

“Our policy decision to continue to build larger flats, what we call 3Gen flats, for those who want to stay together, I think is a right move. But I think the numbers required will not be huge,” Mr Khaw said. He also added that the Government will site these flats in mature estates, where possible.

Separately, a survey commissioned by the Ministry of National Development (MND) involving more than 2,000 Singaporeans showed that 55 per cent of singles plan to live with their parents after marriage, while 65 per cent of young, unmarried couples who intend to move out after marriage want to live in the same town as their parents or nearer.

The Housing and Development Board Sample Household Survey for last year also showed that while more are living together with or close to their parents in the past decade — the proportion has risen from 31 to 37 per cent — some were still unable to do so. Only 53 per cent of married couples surveyed currently live with, or in the same town as their parents.

Commenting on the survey results in a blog post yesterday, Mr Khaw said it was “heartwarming” to see the survey confirming that “the state of family bonding in Singapore is healthy and strong”. “They affirm that Singaporean families value mutual care and support and want to live near to one another,” he added.

Acknowledging that his ministry could do more to help families live closer together, Mr Khaw said: “MND will study the survey findings in greater detail, and together with the feedback we have received from our housing conversations, to see how best we can help fulfil Singaporeans’ aspirations to live near their extended families for better mutual care and support.”