Cooling property market takes a seat at SLA auction
http://www.straitstimes.com/Latest%2...ry_251877.html
June 26, 2008
SLA offers 8 infill sites for residential homes
THE Singapore Land Authority (SLA) on Thursday launched another eight infill sites for residential use.
They include a 1,400 sq m site in Ridout Road, District 10, within the Good Class Bungalow area.
Some of the other sites are located within prime residential areas such as Holland Road and Carmichael Road. There is also a site at Upper East Coast Road, within walking distance of the popular Siglap and East Coast food haunts.
The sites, to be offered through a public auction on Aug 21 at M Hotel, can be developed for detached, semi-detached and terrace houses. They will be sold with fresh 99-year leases.
This will be the second time that SLA is offering such sites for public auction.
Last November, six infill sites were sold for over $30 million.
'Infill' sites are pockets of state land located in the midst of an established landed housing estate that have either been left untouched by nearby development, or are formerly used for public purposes that have since been phased out.
Assistant Chief Executive, Land Operations Group, Mr Simon Ong said: 'We were very encouraged by the strong response at the last auction. It attracted niche or boutique developers with expertise in building unique houses and 'dream homes'.
'This time, we have identified and released more sites and offering them through public auction for wider participation. The appeal of such sites is that they can be customised to suit the buyer's needs. This is also aligned with SLA's mission to optimise the use of vacant State land.'
For more information, please log on to http://www.spio.sla.gov.sg and http://www.sla.gov.sg/Land_Sales/ls_index.htm
SLA to auction 8 infill sites for residential developments
http://www.channelnewsasia.com/stori...356484/1/.html
SLA to auction 8 infill sites for residential developments
Posted: 26 June 2008 1107 hrs
SINGAPORE: The Singapore Land Authority (SLA) has launched another eight infill sites for residential use.
They will be offered through a public auction on August 21. The sites will be sold with fresh 99-year leases.
This will be the second time the SLA is offering such sites for public auction. In November last year, six infill sites were sold for over 30 million Singapore dollars.
As in the previous auction, a site within the Good Class Bungalow area is also being offered. It has a land area of about 1,400 sq m in Ridout Road, District 10.
Possible developments for the other sites include detached, semi-detached and terrace houses.
Some of the other sites are located within prime residential areas such as Holland Road and Carmichael Road. There is also a site at Upper East Coast Road, within walking distance of the popular Siglap and East Coast food haunts.
'Infill' sites are pockets of State land located in the midst of an established landed housing estate that have either been left untouched by nearby development, or are formerly used for public purposes that have since been phased out.
SLA's assistant chief executive for land operations group, Mr Simon Ong, said: "We were very encouraged by the strong response at the last auction. It attracted niche or boutique developers with expertise in building unique houses and 'dream homes'.
"This time, we have identified and released more sites and offering them through public auction for wider participation. The appeal of such sites is that they can be customised to suit the buyer's needs. This is also aligned with SLA's mission to optimise the use of vacant State land."
- CNA/ir
For sale: 8 infill sites for housing use
http://www.businesstimes.com.sg/sub/...85370,00.html?
Published June 27, 2008
For sale: 8 infill sites for housing use
THE Singapore Land Authority (SLA) said yesterday that it would sell eight infill sites for residential use. The sites will be offered at a public auction on Aug 21 at M Hotel in Anson Road. They will be sold with fresh 99-year leases.
The auction comes after one in November 2007 at which six infill sites were sold for more than $30 million.
'We were very encouraged by the strong response at the last auction,' said Simon Ong, assistant chief executive of SLA's land operations group. 'It attracted niche or boutique developers with expertise in building unique houses and dream homes.'
The latest sites include some in prime areas such as Holland Road, Carmichael Road and Upper East Coast Road.
As at the previous auction, a Good Class Bungalow site is being offered. Proposed developments for other sites include a two-storey bungalow and a pair of three-storey semi-detached houses.
'The appeal of such sites is that they can be customised to suit the buyer's needs,' said Mr Ong. 'This is aligned with SLA's mission to optimise the use of vacant state land.'
The developer's packet for the sites can be bought from the SLA at $52.50 or found online at www.sla.gov.sg. Interested parties can register for the auction outside the Shenton Room of M Hotel, from 2pm on Aug 21. The auction starts at 3pm.
SLA to auction off eight vacant plots for homes
http://www.straitstimes.com/Money/St...ry_252157.html
June 27, 2008
SLA to auction off eight vacant plots for homes
By Joyce Teo, Property Correspondent
THE Government has put a further eight small plots of vacant land on sale, some in prime districts like Ridout Road, near Peirce Road.
These infill sites have been popular with buyers who want to build their homes from scratch - but the catch is that the sites are on 99-year leases, and some of them are oddly shaped.
They are either in landed estates that have been left untouched by nearby developments, or are plots once used for public purposes, housing possibly parks, sub-stations or even septic tanks.
The plot in Ridout Road would be ideal for a good-class bungalow. These large bungalows have a minimum land area of 15,070 sq ft.
Another site is in Upper East Coast Road, near Woo Mon Chew Road in the Siglap area.
The Singapore Land Authority (SLA) will auction the eight sites at M Hotel on Aug 21.
Mr Simon Ong, the SLA's assistant chief executive of the land operations group, said: 'The appeal of such sites is that they can be customised to suit the buyers' needs.'
Mr Teo Jing Kok, the SLA's deputy director of land sales, said that normally, a family that wants to design and build a home would have to buy a piece of land along with the existing building, which they have to demolish before they can redevelop the site.
'Often, after paying so much for the building, most landowners are tempted to keep the existing building or parts of it and retrofit their dream design into the existing form.'
But with a vacant infill site, they would be able to freely customise the design of the entire home, said Mr Teo.
He added that some bidders of previous infill sites were experienced investors who said the sites made good investment properties as the land cost was lower.
'Since the upfront investment is lower, the yield of the investment is higher for such 99-year properties,' said Mr Teo.
An auction for six infill sites late last year attracted fairly brisk bidding and ended with sale prices ranging from $1.3 million to $12.1 million.