Singapore Property News This Week #93

Residential

Chee Hoon Ave GCB site sold for $22.9m

The 15,184 sq ft GCB plot located at 8 Chee Hoon Ave had been sold for $22.9 million or $1,508 psf of land area. It has a square shape and a frontage of around 37m along Chee Hoon Avenue. It is located near Botanic Gardens, Cluny Court and Serene Centre, and schools such Anglo-Chinese School, Nanyang Primary and Raffles Girls’ Primary.

(Source: Business Times)

Private home sales driven by HDB upgraders

48% or 17,590 of the 36,887 home sales were made by HDB upgraders in 2012, a 17% increase from 2011’s figure. This was largely driven by sales in the primary market. The increase in private home sales was despite loan curbs in October 2011 and mainly a result of the low interest rates and the demand for private homes by HDB upgraders.

Looking ahead, transaction volume is likely …