(1) District 9 Welkin Mansions at 17 River Valley close is up for en bloc sale for $130 million or $1,800 psf ppr.

The site can be built up to 36-storey apartment block with about 48 units of around 1,500 sq ft.

(2) Northshore Bungalows in Punggol is on the en bloc market for $92.4 million, excluding development charges of $14 million.

The 129,585 sq ft site has a plot ratio of 2.1 and is zoned for 2-storey bungalows. It can be redeveloped into about 72 units of two-storey cluster bungalows with an attic, a basement and two basement car park lots.

(3) A row of thirteen 999-year leasehold conservation shophouses in Telok Ayer and Boon Tat streets is on sale for $67 million or $1,200 psf. The combined land size of the shophouses is 16,987 sq ft. 

The current rental yield for the old buildings is around 2.5%; but based on a projected rental value of $5.50 psf per month, the potential yield could reach 5% to 5.5%.

Recent transactions in the nearby areas included three shophouses in Ann Siang Road for $28.8 million or $1,519 psf; and a shophouse in Amoy Street for about $1,100 psf.

(4) Freehold Royalville, off Sixth Avenue has been put on the collective sale market with an asking price of $330 million to $350 million or about $1,235 to $1,305 psf ppr

The 19-year old project has a site area of 174,176 sq ft and a plot ratio of 1.4 which gives a maximum height of 5 storeys.

(5) Freehold Spanish Village on Farrer Road has been put on the collective sale market with an asking price of $878 million or about $1,700 psf ppr, excluding development charge of $23 million. The 226-unit project received its Temporary Occupation Permit (TOP) on 31 December 1987.

It has a land area of 331,457 sq ft and a plot ratio of 1.6 which allows a storey height of up to 12.

(6) District 10 Westwood Apartments at 15 Orchard Boulevard has been put on the en bloc sale market for $488 million or $2,800 psf ppr.

The freehold 62,179 sq ft site is the first luxury collective sale site to be launched under the new en bloc sale rules and during the current market lull.

Currently, the project has 48 units but it can be redeveloped in a 20-storey condominium project with 69 units of around 2,500 sq ft each.

(7) A 53rd storey penthouse at the Orchard Residences was sold for a new record price of $28 million or $5,600 psf. The buyer of the 5,048 sq ft unit is believed to be a foreigner.

The 175-unit condo right in the heart of Orchard Road has been 73% sold, with all four penthouses already snapped up. The project sits on a 99-year leasehold land.

In the meantime, more than 30 apartments at the nearby Scotts Square have been sold since the official launch on 28 September. The average price at Scotts Square is around $4,000 psf. Since its preview in July, about half of the project's 338 apartments have been sold.

(8) Prices of HDB resale flats have been rising steadily with the latest resale price index registering an increase of 6.5% in the third quarter of 2007 quarter-on-quarter.

Response to sale of new flats is also healthy, in the April bi-monthly sale exercise, 1,269 flats were offered in the North and West zones and 92% or 1,172 flats were sold. Then in June, 992 flats in the North-east zone were offered and 97% or 892 flats were snapped up.

In October, more than 1,600 applicants jostled to buy 489 flats for sale. The flats include new, unsold and repurchased units as well as show flats in Bukit Batok, Bukit Panjang, Choa Chu Kang, Jurong East, Sembawang and Yishun.

This is a clear sign that demand for mass market housing is on the rise and will continue to be so as long as the economy continues its cruising speed over the next few years.

There has been a surge in prices for mass-market homes, which are finally catching up with that of luxury homes.

Edited by Sam Gian – Independent Real Estate Sale Consultant and trainer