HDB Launches Lakeside Site for 580 DBSS Flats
A public shelter site located at Lakeside is being initiated for sale by the Housing and Development Board (HDB). This site has the possibility of generating 580 flats. This move is under the supervision of the HDB’s design- build- and- sell – scheme (DBSS).
The government’s DBSS system gives enormous benefits to the developer who wins the bid because he is able to exercise his freedom in designing, costing and promoting the units. He is given more autonomy to make his own decisions. The DBSS system gives support to developers and contractors.
This piece of land has an area of 2.1 hectares and is located at Yuan Ching Road. Its position is near the Jurong Lake and the Jurong Country Club Golf Course. It is also near educational establishments such as the Jurong Secondary School.
However, even though the site has good neighbors and establishments, it is not considered a good location. The reason for this is because it is far from an MRT station. The Lakeside and Boon Lay train stations are several bus rides away. It is therefore not considered a good investment.
One of the attributes of an ideal location or site is the availability of transportation. This is a major consideration in purchasing a real estate property. It is a necessary convenience for the buyer.
The property has a leasehold term of 103 years. Estimated forecast of bids could range from $133.5 million to $147 million. Expected to bid are four to six bidders who are contractors or developers. As this is not a very attractive property because of its distance from MRT stations, the bids are expected to go lower. This was revealed by Nicholas Mak, Research Executive Director of SLP International Property Consultant.
Proposals for this site are still being accepted. Acceptance of bids will close on January 5.
First-time buyers are now able to afford these new DBSS units. Since this is a public housing project, they can even apply for a CPF housing grant in the amount of US$30,000. This is an incentive given to original buyers . However, they will not be entitled to acquire a HDB concessionary loan.
Buy Sell Rent invest In Singapore Property Real Estate
( +65 ) 91002985
no comments yet.