Eleven @ Holland is now opened again …

new station exit

Image via Wikipedia

Call it a re-launch if you like.

Eleven @ Holland showroom is now open again but only on weekends. The great news is that prices has not changed since the official launch in June.

Hurry, to the showroom today at Holland Link.

On a side note, do you know that the new circle line mrt linking Paya Lebar MRT all the way to Botanic Garden, Holland Village, Haw Par Villa will be open on 8 Oct 2011?  Property prices along this stretch of MRT will go up.

Remember, Eleven @ Holland is also not far from Holland Village MRT Station.

Exciting news for Eleven@Holland – Circle Line Boom

Click on the picture to enlarge !

This is indeed an exciting news for residential owners staying in this district (District 10) at Bukit Timah area.  All the more at Eleven@Holland.

You can expect more retail shops to be open along the new Circle Line with lots of activity. Businesses are already planning ahead for the opening of the Circle Line. There will be a bigger crowd of people and night life.

You don’t even have to go to Mohamed Sultan or Clarke Quay to enjoy the live band music, the restaurants and al-fresco dining environment.

For those who prefer shopping, there are lots of shops and supermarket that you can visit. Some of these shops and supermarkets actually open for 24 hours to cater for busy people.

The atmosphere will be simply fantastic. Don’t miss out on this opportunity to own a property at Eleven@Holland for home-stay or investment. Expatriates will especially like the concept of resort-living lifestyle, yet able to enjoy the amenities available near their homes.  More news in the Straits Times.

Eleven@Holland – closing down of the showroom

For your information, the showroom at Eleven@Holland will be closed by this weekend until further notice.

This may be your last opportunity to view the site model and show flat — and also to accept the offer price by the developer. About 23% of the cluster semi-detached houses has been sold to date.

For those who had the opportunity of viewing the quality of the furnishings and decided to buy the property, the buyers know they have a good buy.

For those who have not seen it, please hurry to the showroom at Holland Link and quickly make your decision.

I’ll see you at the showflat on this Friday and the coming weekend.

Timothy Chew
CEA Reg. No. R021687B
KF Property Network Pte Ltd
Mobile: +65 91781178

Eleven @ Holland – It’s near ‘The Green Corridor’

There is so much talk about the Green Corridor these days!

Do you know that not far from Eleven@Holland is a stretch of old railway tracks that were once owned by Malaysia KTM (Kereta Tanah Melayu)?  It is actually at the bend from Old Holland Road towards Blackmore Drive, about less than 1km away. I believe you can actually ‘bashed’ through to get to the railway track and appreciate the nature and flora around the area.

Development plans are already on the way to redevelop the area for more roads, condominiums and shopping malls. My opinion is that there is already sufficient buildings in Singapore  for home ownership but not enough of greenery. Once destroyed, you can never re-create the beauty of mother nature. History and ecosystems will be gone forever.

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Review of Eleven@Holland by H88.COM.SG

Eleven@Holland was launched last Saturday, 11 June 2011, on an auspicious day that also coincides with the project name. Here is an independent review by a property consulting company under the name of H88.

99-Year Leasehold Landed Properties – Value for Money?

Simply mention the word “99-year leasehold property”, customers will just recoil in horror and re-consider their decision to buy that property.

Is there a difference between a leasehold and freehold property? Why buy 99-year leasehold when there are freehold landed properties?  Will the value of the 99-year leasehold landed property fall when one wants to sell later? For a landed property, which gives a better yield – freehold or 99-year leasehold?  These are some of the questions that goes through the minds of buyers.

In Singapore, the common tenures of private residential properties are 99-year leasehold, 999-year leasehold and freehold.  The main difference between a leasehold property and a freehold is that when one invests in a leasehold property – an owner is only conferred the right to the exclusive use and possession of the land for a fixed term whereas in the case of a freehold property, an owner will have the full ownership of the land and the property in perpetuity.

99-year leasehold property is priced lower than the freehold landed property due to the limited supply of freehold land as most land sales released by the government are leasehold. As long as the leasehold properties are affordable, there is always a market for 99-year leasehold landed private properties. Where capital gain is concerned, by assuming all other conditions being equal, the price appreciation of a 99-year leasehold landed property will always grow in tandem with its freehold counter-part.  This is because property prices will always move in the same direction based on market demand.

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Applying to Buy Residential Property

Foreign Ownership of Properties
Since 1973, the Singapore Government has imposed restrictions on foreign ownership of private residential property in Singapore. Such ownership is governed by the Residential Property Act (the Act).

The Act seeks to strike a balance between giving Singaporeans a stake in the country by being able to buy and own residential properties at affordable prices, while attracting foreign talent by allowing permanent residents, foreign companies and limited liability partnerships that make an economic contribution to Singapore to purchase such properties for their occupation.

The Land Dealings (Approval) Unit administers the provisions of the Act and its rules by:

  • processing applications from foreign persons for approval to acquire or retain restricted residential property;
  • issuing clearance certificates to Singapore companies, limited liability partnerships and societies;
  • prosecuting offences under the Act; and
  • dealing with general enquiries relating to the operation of the Act.

Under the Act, a foreign person means any person who is not any of the following:

  • Singapore citizen;
  • Singapore company;
  • Singapore limited liability partnership; or
  • Singapore society.

If a foreign person is interested in purchasing a restricted residential property, the application form can be downloaded from the Singapore Land Authority (SLA) to be completed and submitted together with the relevant supporting documents to:

Land Dealings (Approval) Unit
Singapore Land Authority
55 Newton Road
#12-01 Revenue House
Singapore 307987
What is restricted residential property under the Residential Property Act
A foreign person cannot acquire or purchase restricted residential property unless he obtains the prior approval of the Minister for Law. Such property includes:
  1. vacant residential land;
  2. landed property [i.e detached house, semi-detached house, terrace house (including linked house or townhouse)]; and
  3. landed property in strata developments which are not approved condominium developments under the Planning Act.

What is non-restricted residential property under the Residential Property Act
A foreign person is not restricted from acquiring:

  • any apartment within a building;
  • any unit in an approved condominium development under the Planning Act; and

Note:A foreign person is not allowed to acquire all the apartments within a building or all the units in an approved condominium development without the prior approval of the Minister for Law.

  • a leasehold estate in restricted residential property for a term not exceeding 7 years, including any further term which may be granted by way of an option for renewal.

The following properties are not under the purview of the Residential Property Act. Intended purchasers of these properties are advised to enquire directly with the Housing and Development Board (HDB) regarding their eligibility:

  • An HDB flat purchased directly from HDB;
  • A resale HDB flat where HDB has consented to the sale;
  • An HDB shophouse; and
  • An Executive Condominium purchased under the Executive Condominium Housing Scheme Act, 1996.
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