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Recent blog posts

Prices to drop by 12-15%.

According to PropNex, over the next three years, 80,000 new BTO flats will be completed and keys handed over to buyers. HDB will also launch a total of 24,300 BTO flats in 2014 – this is just slightly lower than last year's supply of 25,100 units.

And according to Minister Khaw, 18,000 households in the next 3 years will be moving to a BTO flat, thus they are required to sell off their existing flat within the 6 months. With the forthcoming supply of HDB resale units in the market, it is expected to further create a downward pressure for HDB resale prices. In the next 2 years, we are expecting HDB resale prices may well drop by 12 to 15 percent," Mr Mohamed Ismail, CEO of PropNex Realty.

Resale prices for HDB flats continued their decline in the first quarter of 2014, a trend which is unlikely to reverse even by the end of this year — this is the result of a convergence of measures imposed last year to cool the market and a continued supply of new flats. HDB today indicated that the resale price index in 1Q14 was 198.5, which represented a 1.6 percent contraction from the previous quarter.

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Price decline observed across all segments.

According to the Urban Redevelopment Authority, prices of private residential properties decreased by 1.3% in 1st Quarter 2014, following the 0.9% decline in the previous quarter.

Prices of non-landed properties in the Core Central Region (CCR) declined by 1.1%, following the 2.1% decrease in the previous quarter.

In Outside Central Region (OCR), prices declined by 0.1%, following the 1.0% decline in the previous quarter. Prices in the Rest of Central Region (RCR) declined 3.3%, after registering a marginal 0.4% increase in the previous quarter (see Annexes A-1, A-2 & A-62following a decrease of 1.0% in the previous quarter. 

Rentals of private residential properties decreased by 0.7% in 1st Quarter 2014, greater than the 0.5% decline in 4th Quarter 2013. Prices of landed properties declined 0.7%,

Source:  Singapore Business Review  25th April 2014

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Developers are pressured by Qualifying Certificate deadline.

According to Colliers International, rents are expected to come under further downward pressure. The increasingly competitive market could prompt landlords to lower their rent expectations in order to secure tenants. As such, rents for luxury apartments are projected to decline by up to 10% for the whole of 2014.

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Developers of high-end properties may feel the heat to meet the Qualifying Certificate deadline, which requires developers whose shareholders and directors are not all Singaporeans, to complete construction of the development within five years and to sell all units within two years of obtaining the temporary occupation permit.

Furthermore, owners of high-end homes face higher holding costs with the kicking in of the progressive fiscal system on 1 January 2014.

Particularly for investors who are servicing mortgages, the abolishment of tax concessions for vacant properties, as well as higher taxes for high-end properties on the back of a weak leasing market, could be a push factor, prompting them to put their properties on the market for sale, adding to the pool of new unsold units.

The heightened competition could weigh on prices of high-end/luxury residential properties for which an average decline of between 10% and 15% could be seen in 2014.

Source:  Singapore Business Review  23rd April 2014

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Everyone's devastated by the sudden crash in March.

According to PropNex Realty, private home sales slowed more than 33% in March after picking up last month, given the cautious mood and overall fewer new launches. 

Developer sales remain fairly muted in the month of March with a total of 724 units launched and 480 units sold (excluding ECs); and only one new residential project— The Santorini, entered the market last month.

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Posted by on in Property News

Singapore is located in the heart of Asia, strategically placed at the cross roads of trade between the East and the West. A vibrant city- state of about 712.4 sq km, with a cosmopolitan population of 5.4 million people. Singapore is well regarded as a triple- A rated economy with strong growth potential- a sound, stable and winning location for investments as well as business. 

Global investors and talents are attracted to work. live and play in Singapore by its transformation into a truly global metropolis. And many had decided to leverage on Singapore's growth by investing in real estate assests in the country. The last few years had seen an increase in foreign real estate investment in Singapore's residential and commercial property sectors. 

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When applied to real estate, the principle of supply and demand refers to the ability of people to pay for housing coupled with the relative scarcity of real estate. For any type of good or service to have value in any marketplace, it must possess four characteristics: demand, utility, transferability and scarcity. Demand is a need or desire coupled with the purchasing power to fill it, whereas utility is the ability of a good or service to fill that need. Scarcity means there must be a short supply relative to demand. Air, for example, has utility and is in demand, but it is not scarce. Finally, a good or service must be transferable to have value to anyone other than the person possessing it.

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In recent years, this part of the island has been going through a holistic transformation by tapping on development potential and opportunities. 

What used to be swamps and fish farms has since transformed into a vibrant suburban hub over the decades. Developed as an industrial town in the early 1960s, Jurong now no longer leaves an impression of a polluted industrialised area and has grown into a bustling precinct. 

As part of the government’s plans for Remaking Our Heartland (ROH), a new lease of life has been injected into the Jurong Lake area, benefitting local residents and bringing the area to the attention of international visitors. The 360ha Jurong Lake District features two areas - Jurong Gateway and Lakeside.

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INVESTORS hoping to take advantage of the master plan out this week should look at Woodlands and Village but hang fire on Kampong Bugis, Marina South, Serangoon Gardens and Jalan Kayu, said consultants.

They added yesterday that while plans for Tanjong Pagar and the Greater Southern Waterfront were exciting, they would materialise only far into the future.

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Khaw wants integrated health care complex to be connected with homes and nature. 

 

A new integrated health-care complex coming up in Woodlands promises to be like no hospital seen so far in Singapore. It includes an acute care hospital, community hospital and nursing home, will open in phases from 2022. 

When completed, the development will provide some 1,800 beds.

The complex will be built on a 7.7ha site along Woodlands Avenue 12 and Woodlands Drive 17, opposite Christ Church Secondary. It will be within walking distance to the future Woodlands South MRT Station.

 

The plot of land which will be used to build the new Woodlands General Hospital, taken on Feb 15, 2014. A new integrated health-care complex, which includes an acute care hospital, community hospital and nursing home, will open in phases from 2022 in Woodlands. -- ST PHOTO: MARK CHEONG

 

The plot of land which will be used to build the new Woodlands General Hospital, taken on Feb 15, 2014. A new integrated health-care complex, which includes an acute care hospital, community hospital and nursing home, will open in phases from 2022 in Woodlands. -- ST PHOTO: MARK CHEONG 

There are no architect's designs or artist's impressions, but National Development Minister Khaw Boon Wan's brief for the planners is to break new ground, make it different and connect it with homes and nature.

Altogether, there will be up to 1,800 beds in a general hospital, community hospital and nursing home due to open in phases from 2022, he said at a community event yesterday at Woodlands Civic Centre.

 

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Good deals for owner occupiers

With property prices finally losing steam, home buyers may be wondering whether it is the right time to take the plunge.

Both the private and public housing markets have begun to slow down, as sales volumes tumble and prices turn downwards.

Analysts expect the property market to sink further this year owing to a triple whammy of weak demand, an expected rise in interest rates and looming oversupply.

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Singapore said Friday that measures it had implemented to cool down the property market have succeeded but it was "too early" to relax them.

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Posted by on in Property News

MAS Makes It Easier to Refinance Properties Bought Before the Introduction of TDSR

On Feb 10, 2014, the Monetary Authority of Singapore (MAS) announced some exemptions that would please owners having difficulties refinancing older properties due to the TDSR measures. In their press release entitled, "MAS Broadens Exemption from TDSR Threshold for Refinancing of Owner-Occupied Residential Properties Purchased before the Implementation of TDSR Rules", it was announced that some exemptions will be allowed for owner occupied and investment properties.

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The Monetary Authority of Singapore (MAS) has widened the existing exemptions from the Total Debt Servicing Ratio (TDSR) to cover the refinancing of loans for owner-occupied properties that were bought before the measure was introduced last year.

In a statement, the MAS said it had received feedback from borrowers who have faced challenges refinancing such loans.

Under the revised rules, a borrower who bought a residential property before the TDSR rules were introduced will be exempted from the TDSR threshold as long as the buyer occupies the home that is being refinanced.

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Last week, a commercial site in Woodlands attracted strong interest from developers, including some of the biggest names in the business. Yesterday, the Government awarded the tender to a consortium of Far East Civil Engineering, Tannery Holdings and Sekisui House, which had beaten seven other bids with its offer of nearly S$634 million. That translates to about S$907 per square foot per plot ratio (psfppr), for the first commercial site put up for tender since the announcement last November of Woodlands Regional Centre as Singapore’s Northern Gateway.

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A LACK of new supply and increased demand amid a more upbeat business climate boosted prime office rents in the first quarter, said property consultancy Cushman & Wakefield yesterday.

The average grade A overall rent hit $9.90 per square foot (psf) per month - up 5.5 per cent over the previous quarter and the fourth straight quarter of increases.

It was also up 10.1 per cent on the same period a year ago.

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PASIR Panjang has long been associated with container ports and warehouses but that image is changing, consultants say.

Private apartments, mostly low-rise and freehold, now line the western stretch of Pasir Panjang Road close to Clementi Road.

Consultants said that although this area may not be at the top of investors' priority lists now, its star will rise as the Urban Redevelopment Authority's Draft Master Plan last year sparks further development in the area.

The port at Pasir Panjang will be relocated to Tuas after its lease expires in 2027.

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RESALE prices of non-landed private homes inched up 0.2 per cent in March, led by an increase in transaction prices in the Rest of Central Region (RCR).

This marked a slight recovery from a 3.1 per cent decline in resale prices in February, flash estimates by the Singapore Real Estate Exchange (SRX) show.

Resale transactions increased significantly in March with 451 transactions registered - the highest resale volume since October. This is 82.6 per cent higher than a month ago but 22.5 per cent lower than in March last year.

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Buying volume likely to improve.

According to Colliers International, taking into consideration the healthy interest seen during the launch of Lakeville in early April, primary market sales volume is expected to climb to the region of 500-800 units in April before improving further in the following months.

Here's more:

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District 1
Marina Bay Condo | Shenton Way Commercial | Marina Bayfront Condo | Central Boulevard Condo | Central Boulevard Towers | Marina View | V on Shenton | Marina South Pier Condo | Marina One Residences | Shenton Way Condo |
District 2
Pearl Bank En Bloc | Outram Park MRT Condo | Silat Residences | Avenue South Residence | Sky Everton | Sky Everton Freehold Condo Prices | Outram Road Condo | One Pearl Bank | Excellent Connectivity from One Pearl Bank | One Pearl Bank Design and Layouts | Pearl Bank Apartments | Asia Gardens | Anson Road Condo | Tanjong Pagar Condo | Tanjong Pagar Commercial | Greater Southern Waterfront | Wallich Residence | Tanjong Pagar Centre |
District 3
Queenstown Condo | Queens Peak Condo | Dundee Road Condo | Margaret Ville | Margaret Drive Condo | Alexandra View Condo | Prince Charles Crescent Condo | Rest of Central Region Condo | Principal Garden | Silat Avenue Condo | Jalan Bukit Merah Condo | Kampong Bahru Road Condo | Stirling Road Condo | Stirling Residences | Commonwealth Avenue Condo | The Crest @ Prince Charles Crescent | Commonwealth Towers | Highline Residences | Alex Residences |
District 4
Corals at Keppel Bay | Skyline Residences | Reflections at Keppel Bay |
District 5
Park West Condominium En-Bloc | West Coast Vale Condo | Park West Condominium | Parc Clematis | Parc Riviera | The Trilinq | Bijou | West Coast Way Condo | One Normanton Park | Normanton Park Condo | Clementi Avenue 1 Condo | Jalan Lempeng Condo |
District 7
CityGate Condo | Selegie Road Condo | Sophia Road Condo | Tan Quee Lan Street Condo | The M | Middle Road Condo | South Beach Residences | Duo Residences | Beach Road Bugis Rochor Condo | Midtown Suite | Midtown Bay | Midtown Bay Floor Plans and Facilities | Beach Road Commercial | Golden Mile Complex | Textile Centre | Golden Mile Complex En Bloc | Textile Centre En Bloc | The Oasis |
District 8
Peace Centre Mansions En Bloc | Perumal Road Condo | Northumberland Road Condo | Uptown at Farrer | 1953 Condo | LYF | Tessensohn Residence |
District 9
Cairnhill Mansions En Bloc | Orchard Bel-Air En-Bloc | Pacific Mansions En Bloc | Robertson Quay Condo | Paterson Road Condo | Cavenagh Gardens En-Bloc | Cavenagh Gardens | Cavenagh Road Condo | Orchard Boulevard Road Condo | Orchard Road Condo | Scotts Road Condo | Cairnhill Road Condo | Riviera Point | The Iveria | The Iveria Condo Floor Plans | Cairnhill Mansions | One Tree Hill | River Valley Road Condo | Martin Place Condo | Martin Modern | Kim Seng Road Condo | Handy Road Condo | Haus on Handy | Jiak Kim Street Condo | Riviere Condo | Fraser Residence Promenade | Avenir Condo | Pacific Mansions | Great World MRT Station Condo | Martin Place Residences | The Rise at Oxley Residences | Orchard Paterson Cairnhill Road Condo | Core Central Region Condo | Robertson Quay Condo | Paterson Collection | St Thomas Walk | Leonie Hill Road Condo | Horizon Towers | Leonie Gardens | New Futura | Cairnhill Nine | 3 Orchard by the Park | Twin Peaks |
District 10
Grange Road Condo | Farrer Road Condo | Tulip Gardens En Bloc | Tulip Garden Residences | Leedon Green | Leedon Green Floor Plans | Tulip Garden Residences Floor Plans | Tulip Garden | Tanglin Road Condo | Jervois Gardens | Crystal Towers | Juniper Hill Condo by AllGreen Properties | Juniper Hill | The Hyde at Balmoral | The Hyde | Balmoral Road Condo | Jervois Road Condo | Petit Jervois | Jervois Prive Exclusive Condo | Jervois Prive | Jervois Treasures Condo Floor Plans | Jervois Treasures | Tanglin Shopping Centre En Bloc | Tanglin Shopping Centre | Jervois Gardens En Bloc | Spring Grove En Bloc | Spring Grove | Hallmark Residences | Wilshire Residences | Sloane Residences | Ewe Boon Road Condo | Bukit Timah Road Condo | Bukit Timah Collection | Cluny Park Residence | Cuscaden Road Condo | Petit Cuscaden | Cuscaden Reserve | Cuscaden Reserve Condo Floor Plans | Boulevard 88 | Pollen and Bleu | Leedon Residence | Gramercy Park | Ardmore Three 3 | Sculptura Ardmore | RV Residences | Robin Residences | 18 Nouvel@ Anderson Road | Holland Road Condo | The Estoril | The Estoril En Bloc | Hollandia En Bloc | Hyll at Holland | Hollandia | TwentyOne Angullia Park | D'Leedon | Mon Jervois | Holland Village Residences | One Holland Village | One Holland Village A Mixed Development Design | Holland Village Condo | Van Holland | Van Holland Floor Plans | 15 Holland Hill | 15 Holland Hill Floor Plans |
District 11
Chancery Court En Bloc | Chancery Court Condo | Thomson Road Condo | Novena Condo | Newton Road Condo | Pullman Residences | Pullman Residences Floor Plans | Dunearn Road Condo | 386 Dunearn | Dunearn Court Condo | Derby Court | Fyve Derbyshire | Derbyshire Road Condo | Kampong Java Road |
District 12
Balestier Road Condo | Toa Payoh Condo | Neem Tree | Riverbay | Boon Teck Towers | Eight Riversuites | Boon Teck Towers En Bloc | Gem Residences | Kallang Riverside Condo |
District 13
Woodleigh Residences | Upper Serangoon Road Condo | Park Colonial | Woodleigh Lane Condo | Mattar Residences | Woodleigh MRT Condo | Woodleigh Condo | Woodleigh Link Condo | Bidadari New Estate Condo | Upper Aljunied Road Condo | Tre Ver | Raintree Gardens | Potong Pasir Avenue 1 Condo | Potong Pasir Condo | The Maisons | The Quinn | Mattar Road Condo | The Poiz Residences | The Venue Residences | Sant Ritz |
District 14
Eunos Condo | Eunos MRT Condo | Sims Avenue Condo | Changi Road Condo | Parc Esta | Eunosville | Eunosville En Bloc | City Plaza | City Plaza En Bloc | Paya Lebar Road Condo | Sims Drive Condo | Park Place Residences | Paya Lebar Quarters | Sims Avenue Condo | Paya Lebar Central |
District 15
Dunman Road Condo | Coastline Residences | Amber Sea | One Meyer | Albracca | Siglap MRT Station Condo | Marine Parade Road Condo | Casa Meyfort Condo | Meyer Mansion Floor Plans | Meyer Mansion | Meyer Modern | Nanak Mansions | Meyerhouse Exclusive Condominium | Meyerhouse | Meyerbank | Nyon | Rebirth of Amber Park Condo | Amber Park Condo Seafront Living | Amber Park | The Opus | Parkway Mansion | Amber Park En Bloc | Hawaii Tower En Bloc | Parkway Mansion En Bloc | Albracca En Bloc | Laguna Park | Laguna Park En Bloc | Tanjong Katong MRT Station Condo | Meyer Road Condo | Hawaii Tower | Katong Park MRT Condo | Katong Park Residences | Katong Park Towers | Amber Gardens Condo | Amber Road Condo | Neptune Court | Neptune Court En Bloc | Lagoon View | Lagoon View En Bloc | East Coast Marine Parade Condo | Katong Shopping Centre | Katong Shopping Centre En Bloc | Mountbatten Road Condo |
District 16
Siglap Road Condo | Mandarin Gardens | Mandarin Gardens En Bloc | New Upper Changi Road Condo | The Glades | Bedok South Condo |
District 17
The Inflora |
District 18
Tampines Court | Treasure at Tampines | Tampines Court En Bloc | Tampines Street 11 Condo | Tampines Avenue 10 Condo | Coco Palms |
District 19
Florence Regency En-Bloc | Florence Residences Condo Club | Florence Regency | Rio Casa | Kensington Park En-Bloc | Kensington Park | Serangoon Ville | Serangoon Ville En Bloc | Forestwood Residences | Hougang Avenue 2 Condo | Hougang Central Condo | Hougang Condo | Riverfront Residences | Hougang Avenue 7 Condo | Affinity | Serangoon North Avenue 1 Condo | The Garden Residences | New Condo | Serangoon Gardens Condo | Serangoon Central Condo | Lorong Lew Lian Condo | Riverbank Sengkang West Way Condominium | Yio Chu Kang Road Condo | Toho Green | Rivertrees Residences | Parc Botannia | Fernvale Road Condo | High Park Residences | Sengkang West Condo | New Tampines Road Condo | Kingsford Waterbay | Botanique at Bartley | Buangkok Condo | Buangkok MRT Station Condo | Sengkang Central Condo | Sengkang Grand Residences | Sengkang Central Residences | Sengkang Central Residences Floor Plans | Sengkang Grand Residences Floor Plans | Sengkang Central Residences Prices | Sengkang Grand Residences Prices |
District 20
Marymount Road Condo | Braddell View En Bloc | Lentor Hill Road Condo | Lentor Central Condo | Braddell View | Shunfu Road Condo | Jade Scape | Far Horizon Gardens | Far Horizon Gardens En Bloc | Ang Mo Kio Avenue 9 Condo | Faber Gardens | New Lorong Puntong Condo | Thomson Impressions Condo | Adana | Panorama | Upper Thomson Road Condo | Yio Chu Kang Road Condo | Lentor Road Condo | Caldecott Condo | Bishan Central Condo | Lentor Drive Condo |
District 21
Jalan Anak Bukit Condo | Beauty World Condo | Goh & Goh Building En Bloc | Pine Grove | Pine Grove Condo | Pandan Valley Condo | Ridgewood Condo | Ridgewood Condo En Bloc | Mayfair Collection | Mayfair Gardens Condo | Mayfair Modern | King Albert Park MRT Station Condo | Mount Sinai Condo | Ulu Pandan Road Condo | Pine Grove En Bloc |
District 22
Jurong Condo | Lake Grande Condo | Lakeville | J Gateway |
District 23
Toh Tuck Road Condo | Kismis View | Dairy Farm Road Condo | Dairy Farm Residences | Dairy Farm Residences Floor Plans | Foresque Residences | The Lanai | Hillion Residences | Bukit Batok Condo | Hillview Rise Condo | Dairy Farm Residences Prices |
District 25
Woodlands Square Condo | Woodlands Square Commercial | Woodlands Central Condo |
District 26
Springside Road Condo |
District 27
NorthPark Residences | Canberra Drive Condo Sembawang | Canberra Link Condo Sembawang | New Yishun Ave 4 Condo | The Wisteria | Condominium Yishun Central | Symphony Suites | Yishun Avenue 9 Condo | Sembawang Road Condo |
District 28
Jalan Kandis Condo | Kandis Residence |
Executive Condo
Parc Life EC | Choa Chu Kang Drive EC | Sol Acres EC | The Vales EC | Tampines Avenue 10 EC | Tampines Street 62 EC | Fernvale Lane EC | Tampines EC | Signature at Yishun | Choa Chu Kang Grove EC | Bukit Batok EC | Tengah EC | Choa Chu Kang Avenue 5 EC | Woodlands Avenue 12 EC | Sembawang Avenue EC | The Visionaire | New EC at Canberra Link | Canberra Link EC Sembawang | Parc Canberra | Yishun Avenue 9 EC | Yishun Street 51 EC | The Criterion EC Yishun | Yio Chu Kang Road EC | New EC | Serangoon North EC | Yishun Avenue 1 EC | The Terrace EC Punggol | The Amore EC Punggol | Westwood Residences EC | Anchorvale Lane EC Sengkang | Sungei Punggol Reservoir EC Sengkang | Anchorvale Street EC Sengkang | Ola EC | Ola EC Prices and Floor Plans | Westwood Avenue EC | Choa Chu Kang Way EC | Canberra Drive EC Sembawang | BrownStone EC | Choa Chu Kang EC | LakeLife EC Jurong | Jurong EC Jurong | Punggol Drive EC Punggol | Woodlands Avenue 5 EC Woodlands | Parc Canberra Floor Plans | Sumang Walk EC Punggol | Piermont Grand | Piermont Grand EC Prices | Punggol Central EC Punggol |
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