117 PRs Allowed to Buy Landed Properties. Great Singapore Sale!

[makapaaa]

Published August 06, 2013

PRs trip on ringfence around landed homes
Sharp drop in approvals for PRs seeking to buy landed homes in mainland S'pore
By
Kalpana Rashiwala

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Creme de la creme: The authorities have stopped giving PRs approval to buy landed homes in Good Class Bungalow Areas. - PHOTO: ARTHUR LEE




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<!-- end of media lightbox //-->[SINGAPORE] The number of approvals granted to permanent residents wanting to buy landed homes on mainland Singapore has fallen sharply, since the authorities further tightened the eligibility criteria in 2011 to ensure these scarce properties remain the primary preserve of Singapore citizens.
The Singapore Land Authority told The Business Times that the number of such approvals fell from 145 in 2010 to 117 in 2011 to just 31 last year (the first full year after the tightening). In the first six months of 2013, only six applications received the nod.
Back in October 2011, Law Minister K Shanmugam had indicated that the number of approvals given to PRs to buy landed homes would fall by more than half to no more than 50 per year.
Since the authorities raised the bar some time in 2011 on eligibility criteria for PRs to buy landed residential properties, about two-thirds of approved applicants are married PR couples with children who are also PRs. "Where these couples have sons of National Service-eligibility age, the sons are serving or have served NS," said an SLA spokeswoman.

 

[makapaaa]

Published August 06, 2013

GCB at Chancery Lane on sale for $39m
By
Mindy Tan

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For sale: The estate sale will be conducted via a closed tender, which will be launched on Aug 6, with closing date on Sept 9 - PHOTO: DTZ




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<!-- end of media lightbox //-->[SINGAPORE] A Good Class Bungalow (GCB) at Chancery Lane is on the market, a sign of piquing interest in the area which saw a number of significant sales in recent months.
The indicative price for the one-storey freehold property, which is being marketed exclusively by DTZ, is around $39 million, subject to offers. This translates to about $1,630 per square foot (psf) based on its land area of 23,932 square feet.
Located within the Bukit Tunggal GCB enclave, on-site is an old house built in the 1980s. The site is expected to be redeveloped.
Nearby amenities include Novena and Newton MRT stations. It is also within a short distance of Mt Pleasant MRT station which is part of the Thomson Line, due in 2021. Schools in the vicinity include Anglo-Chinese Primary School, St Joseph's Institution, and Singapore Chinese Girls' School.

 

[mulvi74]

I remember Chancery Lane back in the old days. My cousin and I would walk to the Cold Storage and get a baguette from the Delifrance and some rare roast beef in between lunches at Tekka Market and dinner time. What a beautiful afternoon snack. $39 million for this house, jesus

 

[wendychan]

GCB land $1600 + per square foot, 23500+ square feet, 39 million, i hope someone is reading this.....and relasise don't sell too fast and then be desperate and sell for a song...don't mind me

 

[I_Hate_Pappies]

Come 1 fine day, the Masterplan increases the plot ratio and allows the change of use to non landed residential. The GCB owners will super huat ah!

 

[jw5]

GCB is not Gong Chee Bye meh? :o

 

[johnny333]

Not too surprising that there has been a fall in demand for expensive Spore housing. If you have a multi million budget you can find nice places in Europe, Switzerland, US, LOS,...

 

[I_Hate_Pappies]

GCB is not Gong Chee Bye meh? :o

Ti Kong Po Pi Gong Kia leh.