SGPropertySource News

Top property news headlines from SGPropertySource . Find news on singapore real estate from our news section now.

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that has been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Team Blogs
    Team Blogs Find your favorite team blogs here.
  • Login
Subscribe to this list via RSS Blog posts tagged in Executive Condominium

Posted by on in Property News

Dual Key Units

What are dual key units? In 1986, the HDB introduced units configured as a studio unit plus the main flat. The intention was to encourage multi-generational families to live under one roof. In 2009, Caspian Condo was the first to introduce the concept to the private residential market. Today, dual-key units can be found in both private and executive condos.

The Straits Times in this article "Developer 'still keen'on dual-key units" published on May 20, 2014 stated that the proportion of large residential projects offering dual key units has risen over recent years: 2011: 3.4%, 2013: 7.5%.

What do dual-key units offer? Basically a dual key layout has two subunits sharing the same foyer. The subunits can be self contained or consist of one full unit with an attached room. For couples, it offers a way to live next to your parents while maintaining some privacy. For others, one sub-unit can be used to generate rental income without loss of privacy.

According to the same article, dual-key units command a premium but this has dropped from 16% at its peak in 2012 to 12% max last year. The take-up rate has also dropped from 84% to 58%. Despite of these stats, dual-key units will appeal to young couples who would also like to be their parents or to investors who see such units as a way to generate another income or to help pay their property loans. Indeed, both units can be rented out to generate even more income. 

All potential buyers of any kind of property should first visit their banker and understand how much they can loan in the light of the TDSR cooling measure. This will help ground their expectations and narrow the range of properties or units that they can invest in. As previously mentioned in this blog: http://sgpropertysource.com/property-news/entry/one-in-three-home-buyers-do-not-understand-tdsr.html. 1 in 3 buyers do not understand the TDSR and its going to save them a lot of time if they make an upfront assessment of the maximum amount they can loan.

Some properties launched or to be lauched with dual key units include:

The Crest @ Tanglin

Coco Palms

RiverTrees Residences

Sunnyvale Residences

Guillemard Suites

Highline Residences

Liv on Wilkie

WhiteHaven

Bentley Residences

The Tembusu

dual key

 

 

 

 

 

 

 

Hits: 1768
Rate this blog entry:
0

On Dec 18 2013, the URA published the Government Landsales for First Half 2014 (1H2014) in their media release entitled: First Half 2014 Government Land Sales (GLS) Programme.

The details in this report can be summarised in the following table:

 

List

Private Sites (including ECs)

Units (including ECs)

Commercial Sites

GFA (sqm)

White Site

Confirmed List

7 (4 EC)

4600 (incl. 2200 ECs)

1 (Mixed)

5000

-

Reserved List

13 (1 EC)

7000 (600 ECs) 

1

188000 

1

Notes:

  1. ECs - Executive Condominium
  2. GFA - Gross Floor Area
  3. Reserved List - sites on this list go on sale if a developer meets the minimum price that is acceptable to the government

 The 4600 residential units from the Confirmed List will join an existing large pipeline of 97,400 private housing units (ECs included). Again, to discourage sky high bids, two pairs of sites, one pair at Yishun St 51 for ECs and another at Fernvale Road for condos will be batched together for the tender exercise.

The two commercial sites on reserved list are a White site at Marina View and a commercial site at Sims Avenue.  These will contribute an additional 188000 sqm GFA to the 1.1 million sqm GFA of office space already in the pipeline if there is demand.

From these figures, there is a healthy supply of residential units and commercial space already in the pipelines to which the sites on the confirmed list will add to and in addition, there are more sites on the reserved list that can cater if there is demand.

There are already 12700 hotel rooms in the pipeline and the hotel site at Race Course Road which has been on the reserved list since May 2011 will be taken out.

Hits: 740
Rate this blog entry:
0