>

>

Horizon Towers extends en-bloc tender closing date

By Bong Xin Ying

/ EdgeProp |

July 25, 2018 12:16 PM SGT

The tender closing date for the collective sale of Horizon Towers has been extended to September 12, from the original closing date of August 7.

The 211-unit, 99-year leasehold Horizon Towers was launched for sale by tender on July 5. On the same evening, the government announced the fresh round of residential market cooling measures effective July 6, increasing the rates of the Additional Buyer’s Stamp Duty (ABSD) and reducing the mortgage loan-to-value limits across the board.

In addition, a non-remissible ABSD of 5% for residential land purchases was announced.

In view of the changes, the Collective Sale Committee, in consultation with JLL and its lawyers, Lee & Lee, has decided to extend the tender closing date.

According to JLL, the decision was made following feedback from developers that they remain interested in the prime site, and would need more time to re-evaluate the project in light of the new measures and to monitor the sales of new projects.

The reserve price of $1.1 billion translates into a land rate of $1,964 psf per plot ratio (ppr), after factoring in the lease top-up premium, which is estimated at $220 million.

After factoring in the 10% bonus gross floor area due to a high development baseline, the unit land rate is $1,786 psf ppr. Despite the new market cooling measures, Horizon Towers remains an attractive value proposition, according to JLL.

Meanwhile, the tender closing date for freehold 32-unit Dalvey Court has also been extended, from August 2 to August 30.

Tags:

enbloc horizon rowers Dalvey Court

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Emerald of Katong draws 10,000 as crowds surge at project sales galleries during Deepavali weekend

2

Kingsford sells 76% of Chuan Park units at an average price of $2,579 psf

3

Is it a Good Deal?: $1.03 million for a four-room HDB flat in District 10

4

CDL sells 20% of Union Square Residences at an average price of $3,200 psf

5

Sim Lian Group’s Emerald of Katong: Will it be another top-seller?

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00