BHL Factories at Mandai at 2A and 2B Mandai Estate Sold to Chiu Teng Group
This B2 (business 2) industrial plot located in district 25, 2A and 2B Mandai Estate is sold to one of the leading builders and developer in Singapore - Chiu Teng Group. BHL Factories have a combined strata area of 61,193sqft, and sit on a freehold site of 80,287sqft with a plot ratio of 2.5 under the RA Master Plan 2019.
This site will be redeveloped into a food factory, with strata-titled units for sale. The new development will be called CT FoodNex. CT Foodnex will be another ideal space for the growing need for the Food & Beverage industry in Singapore.
This site will be redeveloped into a food factory, with strata-titled units for sale. The new development will be called CT FoodNex. CT Foodnex will be another ideal space for the growing need for the Food & Beverage industry in Singapore.
Cooling Measures to Moderate Housing Demand
As at 30th September 2022, MAS (Monetary Authority of Singapore), MND (Ministry of National Development) and HDB (Housing & Development Board) announced another round of property cooling measures.
- for housing loans by financial institutions, the interest rate floor used to compute TDSR and MSR is raise by another 0.5%. For residential loan, interest rate floor used is 4% per annum. For non-residential loan, the interest rate floor used is 5% per annum. This is to ensure that the borrowers borrow prudently in a higher interest rate environment.
- Housing loans granted by HDB, the interest rate floor is 3% to compute the eligible loan amount.
- Loan to Value (LTV) limit is lowered to 80% for HDB loans. This apply to new flat applications for sales exercises launch and complet resale applications which is received by HDB on or after 30th Sept 2022. This revised LTV limit does not apply to loans granted by private financial institutions, which remains at 75%.
- Wait out period of 15 months is imposed for private residential owners and ex-private residential owners to buy a non-subsidised resale HDB flat. However, it does not apply to seniors age 55 and above buying a 4-room or smaller HDB. This is to ensure that HDB remain affordable to the masses.
- Refer to Tables 1 to 3B on the impact on the revised interest rate and lowered LTV .
