Five sites, yielding 3,000 homes, up for grabs

[SINGAPORE] Five residential sites, estimated to yield about 3,000 homes, will be launched for sale this month, under the H2 2013 Government Land Sales Programme.

Of this, four were launched for sale yesterday - two executive condominium (EC) sites at Choa Chu Kang Grove, a site at Yishun Ave 9, and a plot at Geylang East Ave 1 that was triggered for sale through the Reserve List system. The fifth site, at Sims Drive, will be launched for sale later this month. All the sites are 99-year leasehold.

Located in Choa Chu Kang, the two adjacent EC sites measure about 177,120 sq ft each, with maximum gross floor area (GFA) of about 619,920 sq ft. They are expected to yield about 575 units each.

Notably, these EC sites are the first to be launched after the latest measures unveiled on Dec 9, which include a cap on the mortgage servicing ratio at 30 per cent of gross monthly income, and the introduction of a resale levy for second-timer applicants who buy EC units directly from develo…