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Six restoration projects have won the Architectural Heritage Awards this year.

They include the National Museum of Singapore’s $79m makeover as well as two private terrace houses that have been restored for modern-day living while retaining their historical charm.

The National University of Singapore’s Law School on Bukit Timah Road is also one of the winners.

The luxurious hotel suites at the Amara Sanctuary Resort Sentosa are the fifth winner of the award.

Built on top of a small hill to enjoy the natural sea breeze surrounding Sentosa, the hotel suites were transformed from two former military barrack blocks housing British soldiers before and after World War II.

But reminders of the past have been preserved in the transformation, including the former telegraphic posts and even a disused bomb shelter.

Miyake Masaki, concept architect for Amara Sanctuary Partner, Miyake Masaki Associates, said: “The bomb shelter was a unique item and building in Singapore. So I intentionally kept this one… will convert it to a small party space or a wine cave. We have many possibilities there.”

The sixth award winner is the House No. 1 located at the eastern tip of Pulau Ubin.

It is believed to be Singapore’s only remaining authentic Tudor-style house with a fireplace. Its uniqueness fits in nicely with its new function as a visitor centre to Singapore’s nature treasure, Chek Jawa Wetlands.

One of the two private houses that won the heritage award is situated at No.13, Martaban Road.

Once used as a dormitory for orderlies from the nearby Tan Tock Seng Hospital, the two-storey terrace house has been charmingly turned into a chic, contemporary home without sacrificing its humble heritage.

The other private house which won the award is the two-storey Early shophouse at No.62, Niven Road.

The Architectural Heritage Awards were organised by the Urban Redevelopment Authority (URA).

This year’s six winners bring the total number of projects that have received the Awards to 77 since the launch of the Awards in 1995.

The award ceremony was held at the National Museum of Singapore.

As Singapore develops, more is being done to preserve its past. Nearly 230 buildings in the Joo Chiat-Katong area are being considered for gazetting for conservation.

This will add to some 700 buildings in the area that have already been gazetted for conservation.

The majority are terrace and shophouses, including the two blocks at the junction of Everitt Road and Koon Seng Road. Also selected are St Hilda’s and Bethesda (Katong) Church, plus four bungalows.

The URA is currently in consultation with the owners.

National Development Minister Mah Bow Tan said that revitalising the areas is just as important as conserving the buildings.

He said: “Holland Village is not the only village in Singapore, we’ve got a very lovely, quaint little place called Siglap Village. Again, I think, it is developing very nicely. So we will try to improve the roadside facilities at Siglap Village.”

There are also plans to bring life back to Punggol Point, which used to be a chilli crab haven before the restaurants were closed down.

Mr Mah said the waterfront at Punggol Point will be opened up with a new 4.9km promenade which stretches to Sungei Serangoon.

Woodlands, too, will get a promenade.

The projects will be ready by 2010. - CNA/ir

Source : Channel NewsAsia - 01 Oct 2007

Singapore private home prices climbed 8.0 per cent between July and September to their highest level in a decade, early government estimates showed on Monday.

The Urban Redevelopment Authority (URA) said the price index for private residential homes rose to 159.6 for the three months ended September, from 147.8 in the previous three-month period.

The third-quarter gain follows a 8.3 per cent rise in the April-June period and comes after moves by the Government to cool the property market, including redevelopment-charge hikes and the tightening of rules on collective home sales that have seen firms such as CapitaLand and City Developments tear down older buildings to replace them with new projects.

The advance estimates are compiled from transaction prices lodged during the first 10 weeks of the quarter as well as data from new apartments that have been booked.

The URA will release the official price index on Oct 26. — REUTERS

Source : Business Times - 01 Oct 2007

HOME loans shot up at the fastest pace in over two years as more

en bloc sellers bought existing properties and foreigners opted to buy instead of rent.

Home loans in August expanded 2.6 per cent compared to the previous month, and grew 10.7 per cent from the same period a year ago, according to monthly data released by the Monetary Authority of Singapore (MAS).

The 10.7 per cent rate is the fastest in 29 months. This is the first time in over two years that it has entered double-digit territory. July’s growth figure was 8.1 per cent.

Bankers noted that one big factor driving mortgage growth was the growing number of borrowers who, having cashed in on en bloc deals, snapped up replacement properties, especially on the outskirts of the central part of Singapore.

One local banker noted that the average size of mortgages taken out in August dipped, possibly because some borrowers flush with cash from en bloc sales were taking out smaller loans or had downgraded to smaller homes.

Another group of borrowers were foreigners who had previously leased properties but were now opting to buy their own homes, given how high rentals have climbed.

Foreigners ‘are still interested in buying properties in district 9, 10, 11 and the central area’, said Standard Chartered Singapore general manager for mortgage and auto loans Elaine Heng.

But some, such as Chinese and Indian nationals, have shown more interest in district 15 (Katong, Joo Chiat and Amber Road area), as well as other areas on the outskirts of the city, she added.

The amount of home loans held by banks grew by $1.77 billion in August, making up a total of $69.1 billion of mortgages on their books.

Total lending for August grew 10.8 per cent compared to a year ago, as stronger mortgage and credit card growth offset a decline in building and construction loans.

Analysts expect home loans growth to pick up further in the third quarter of this year and beyond. They point to more home buyers on deferred payment schemes taking up loans, as the date of completion of their developments draws near.

But bankers say that the robust home loans growth is currently driven more by secondary market sales of existing properties, which make up about 60 per cent of total transactions.

Stanchart’s Ms Heng said monthly home loans growth could continue at this 10 per cent rate in coming months provided market sentiment remains positive.

But some investors and potential home buyers may adopt a ‘wait-and-see attitude’ from how the United States sub-prime mortgage crisis pans out, she added.

Source : Straits Times - 1 Oct 2007

Property Status  -  CLOSING SOON

Fernwood Towers Towers Big 4+1 Room.

-          4 + 1 bedrooms with 2 attached Bath
-          2497 sqft
-          Low Floor and Large Living Space
-          Living Face SE and Door Face SW
-          Maintenance $400
-          V.T.O.

About Fernwood Towers Towers

Address      - 24 - 28 Fernwood Terrace
Tenure        - FH
District        - 15
Developer  - Hong Leong
T.O.P          - 1994
Total Unit    - 215 unit

Facilities At Fernwood Towers

-  Swimming Pool
-  Sauna
-  BBQ
-  Gym
-  Squash
-  Playground
-  24 hours security
-  Car Park

This development is a prominent building with blue roof tiles. It is directly opposite Mandarin Gardens and 5 minutes to the Siglap vicinity. It is also walking distant to Sekolah Indonesia (0.19KM)

This condo is 5 minutes walk away from Siglap Shopping Mall and 5 minutes drive from Parkway Parade. It is also near the East Coast beach, seafood restaurants and eating outlets via the nearby underpass.

One of the best investment property in the east at unbeatable Price….Enbloc Potential.  This is one for the money.

Call 8118 3456 or e-mail vince@sghousing.com to arrange for viewing.