25 Nov '11, 9pm

Prices of landed homes in Telok Kurau, Kovan and Joo Chiat could fall after new rules, say analysts

SINGAPORE - Prices of landed homes in Telok Kurau, Kovan and Joo Chiat could fall by 10 to 20 per cent following the introduction of new rules by the Urban Redevelopment Authority (URA) to limit the number of apartments that can be built in low-density housing areas, property analysts said. The rules, which kicked in on Thursday, are more likely to affect smaller developers, the analysts said. The plot size for all new flat developments in Singapore must now be at least 1,000 sq m and there is a cap on the number of units that can be built in a project in certain areas to prevent overcrowding. Homeowners hoping to sell their plots for redevelopment in the areas identified by the URA as "problematic" will be particularly hit, analysts said. According to its circular to professional institutes, the URA named Telok Kurau, Kovan and Joo Chiat/Jalan Eunos estates. Mr Eugene Lim...

Full article: http://www.todayonline.com/Business/EDC111126-0000039/Lan...

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