SGPropertySource News

Top property news headlines from SGPropertySource . Find news on singapore real estate from our news section now.

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that has been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Team Blogs
    Team Blogs Find your favorite team blogs here.
  • Login
Recent blog posts

Big Drop in The Number of Private Properties Sold in December 2013 Vs November 2013


Aerial View - 800

Figure 1: Guillemard Residences

The URA released figures today that showed a plunge in both the number of properties sold (-80%) and the number of units launched in December 2013 when compared to November 2013. The cooling measures, especially the TDSR, are taking a real toll on property sales as is evident from these figures and more visibly from the low traffic at showflats in recent times. The TDSR has sidelined buyers who do not meet the 60% debt ratio, reduced the funds of others and generally made buyers more cautious. Worries about interest rates and the reduction in quantitative easing in the US may have an impact on sentiment. Finally, the decline in HDB resale prices may dampen the flow of upgraders from HDB to private property. All these factors appear to support a slow down in sales and prices in the near future.

 

Table 1: Number of Units Sold Per Month 

Month Total
December 2013 333
November 2013 1714

 

Of the 333 units sold in December, 74 units were ECs of which 24 were from Forestville EC in Woodlands and another 18 from Skypark Residences EC in Sembawang. The median psf for these two ECs were 736 and 791 respectively. The best selling private developments were Guillemard Residences (26 out of 146 units, 1494psf), The Glades (1477psf) and La Fiesta (1197 psf). These are located in the Guillemard, Tanah Merah and Sengkang areas, all in OCR or RCR. 

*This author notes that the range of psf values above overlap some freehold psfs which means that even in this climate, decent freehold deals can be found if one knows where to look. 

Singapore Business Review (see http://sbr.com.sg/residential-property/news/private-home-prices-in-singapore-seen-slip-5) mentions estimates of a 5% drop in property prices in 2014 Vs. a small gain of 1.2% in 2013. The total number of units is also estimated to drop from 15015 in 2013 to 12500-14500 in 2014. The sizeable supply coming onstream as well as the general sentiment of the buyers of a price correction will also put more downward pressure on prices. It's becoming a buyers market but any property in a good location and priced attractively will still generate interest and sales.

Another article in SBR (http://sbr.com.sg/residential-property/news/chart-day-graph-proof-home-price-indices-are-starting-crack) mentioned more data that expects a 5% drop in 2014 and 5-15% drop in prices in 2015. The 4th quarter of 2013 saw the first drop in prices in 7 quarters and prices are not 61% above the last trough in 2Q09.

 

Table 2: Number of Units Launched Per Month

Month Total
December 2013 118
November 2013 2172

 

Hits: 1097
Rate this blog entry:
0

Posted by on in HDB

The Straits Times reported a further drop in median COV to $5000 in December from $8000 in the previous month. See http://www.straitstimes.com/breaking-news/singapore/story/median-cov-falls-5000-20140110. While this is true, there are still highly desirable units that are in a good location and well renovated that can still command a much higher COV. One such unit is at Kim Tian Road.

Tagged in: cov hdb kim tian
Hits: 838
Rate this blog entry:
0

Posted by on in New Launch

Thomson Three Video

Thomson Three is a condo that has a lot to offer and the best way to showcase this condo is by photos and videos. A new video can be found at our Thomson Three Website.

http://sgpropertysource.com/condominium/property/thomson-three.html

Enjoy the video and call our hotline if you are convinced that its worth a look.

Thomson Three Entrance

Hits: 870
Rate this blog entry:
0

A Comparison of New Launches in the Geylang/Guillemard Area

Here's a quick comparison of two condos currently on sale in the Geylang/Guillemard Area. These are Guillemard Suites and Rezi ThreeTwo and they are very similar except that Guillemard Suites has more units and unit types to choose from and has a Guillemard address as opposed to a Geylang address. The choice between the two may boil down finer characteristics such as layout of the various units and finishings.

   

Feature Guillemard Suites Rezi ThreeTwo
Developer MK25 Pte Ltd Development 32 P/L (Joint Venture between TEE Realty P/L, Heeton and Kim Seng Realty P/L
Address  213, Guillemard Road, S399733 48 Lorong 32 Geylang, S398308
District 14 14
Region Central Central
Tenure Freehold  Freehold
Site Area 29430  13,287 sqft
Plot Ratio 2.8  2.8
Basic Design 3 5-storey blocks 1 8-storey block
T.O.P. 31/12/17  31/12/2017
Residential Units 146 65
Nearest MRT/Distance  Mountbatten Dakota
Unit Types 1 bedroom duplex 1 bedroom + study
1 bedroom Penthouse 2 bedroom
2 bedroom 3 bedroom
2 bedroom+study
2 bedroom Penthouse
3 Bedroom
3 bedroom+study Penthouse
Dual Key Friendly Yes No

 

Photo of Guillemard Suites:

Aerial View - 800

 

Photo of Rezi ThreeTow

Rezi 3Two Front View 800

Hits: 1804
Rate this blog entry:
2

Balestier Mixed Development To Be Announced

New Mixed Development in Balestier is bound to generate a lot of interest due to its location and convenience. More details will be forthcoming in the next few weeks. Call our sales hotline at 97323160 to register your interest and receive the latest updates.

Hits: 1087
Rate this blog entry:
0

Condo at Fernvale is Now Boardwalk Residences

The Condo at Fernvale has been given the official name Boardwalk Residences. This website will be updated with details from the developer as soon as they are released. Call our sales hotline at 97323160 for latest updates and to register your interest.

Update: The above news was premature. The name Boardwalk Residences was subsequently changed to Rivertrees Residences.

Hits: 1159
Rate this blog entry:
1

Posted by on in Buying Tips

Singapore Property Tip #2 - Get your IPA done

The first tip I shared earlier (#1) was to keep track of land sales if you are an investor. This will affect on decisions on when and where to purchase your next property and also the winning psf gives an indication of the psf of the finished development, be it a condominium or other types of development. The location will also tell you a lot about the amenities nearby which will have an effect on the rentability and future value of the property. For example, the proximity to an MRT station or a future MRT station is a definite plus. Another is proximity to good primary schools. So do check out on poximities to schools, parks, shopping and sports facilities. There are three examples of recent government sales elsewhere in my property news blog - Queenstown S9A, 2 land parcels at Upper Serangoon View and Fernvale Close. All of these land parcels are for condo development but each offering a unique set of features and nearby conveniences. Refer to the HDB, URA and SLA websites for news of past and future government land sales.

 

The second tip is to get your IPA done before you go house hunting. IPA or In-Principle-Approval is a nod from the bank that you are eligible to loan the amount you need to purchase a property. With the property cooling measures introduced by the government to reign in the rise in property prices, the last one being the TDSR or Total Debt Servicing Ratio, it has become harder to secure a loan and there have been many cases of people losing part of their deposits because their loans were not approved. Certainly, getting the IPA done will go a long way to preventing this from happening. It may seem obvious but the question that begs an answer is, "Why do so many units till get returned for sale?" There is no reason to lose part of your deposit. Get an idea of how much you can really loan before you set out on your showflat visits because impulse buying can set in.

Any questions, call our hotline 97323160 or post them here in our blog.

Hits: 945
Rate this blog entry:
1

Future Condo at Queenstown Land Parcel S9A

As posted elsewhere, its a good idea to keep track of government land sales if you are looking to invest in property. Queenstown is a popular choice among condo hunters because of its location and in Feb, the HDB tendered a plot of land that is across road from the Queentown MRT. Being close to MRT stations is a big draw for investors as its convenient to both residents and tenants alike and more so if the station is already up and running. There are several MRT lines such as the Thomson Line and parts of the Downtown Line in various stages of planning and construction but properties near to stations on these line won't enjoy the convenience until those stations are built. So, having one within a short walking distance is definitely a boost for sales. The plot of land sold in Feb is designated S9A and is intended for condo use. No announcements have been made so far but it will come. Read more about this land parcel and the good things about it here. Stay tuned for more news at sgpropertysource.com.

 

 

 

 

 

Hits: 1485
Rate this blog entry:
0

ARC380 is a new building to be built at the site of Eminent Plaza and Lavender Food Square and will offer both offices and shops. Eminent Plaza tends to be known more for the Lavender Food Square next door, a rather well known food court along Jalan Besar with many deletable treats to satisfy all tastebuds. This property is strategically placed at the junction of Lavender and Jalan Besar where human and vehicular traffic are both high. The 144 offices in this 16-storey building boast ensuite washrooms which are served by 23 shops and restaurants on Level 1. Connectivity is excellent as the location is close to PIE, ECP and CTE and is served by Farrer MRT which is just 1km away and in 2017 when the future Bendeemer MRT station is scheduled to be completed, this new MRT station will be just 400m away. The central location also means easy access to CBD and the Marina Bay area as well as to government offices such as the Ministry of Manpower and the Immigration department.

ARC380 Front View

Hits: 831
Rate this blog entry:
0

A new launch condo, Hills TwoOne is coming up for sale in the Hillview area. The main selling points of this condominium is its freehold tenure, proximity to nature and the availability dual key units which allow owners to live next to their aged parents or to their grown up children or to have rental income while keeping their privacy.

Hits: 846
Rate this blog entry:
0

Just uploaded a video of The Skywoods showcasing the best features of this development in Dairy Farm. The link is found here http://youtu.be/N1WmhV0D5jM. Take a tour and call our sales hotline at 97323160 for the latest pricing and availability.

Hits: 861
Rate this blog entry:
1

The tender for two plots of leasehold, designated Parcel A and B located at Upper Serangoon View, closed on Nov 28, 2013 and Kingsford Development, owned by Chinese nationals, have submitted the highest bids of $522 per sqft plot ratio for both parcels. This was above the expected range of $450-480 and is somewhat higher 16% and 13% compared to the next higher bids and may be due to Kingsford wanting to build up its land bank. It also shows more moderate bidding from the other developers.  Additional details about the two parcels can be found here: at http://www.ura.gov.sg/uol/land-sales-repository/sites-closed/~/media/User%20Defined/URA%20Online/land-sales/Sites/upp-serangoon-view-ab/images/upp-srgn-view-brochure.ashx. Parcel A is expected to house 510 units and parcel B 410 units for a total of 920.

The location enjoys direct access to Serangoon Park Connector and offers views of Sungei Serangoon (Serangoon River). Amenities nearby include Hougang Mall and Heartland Mall and many schools. Parcel A is next to the Rio Vista condo and Serangoon Secondary School while the adjacent Parcel B sits alongside Boathouse Residences and Heron Bay.

Stay tuned if you are looking for a new launch condo in the Serangoon area. The selling points of the new Serangoon View condos include:

  • River views
  • Lots of schools
  • Direct Park Connector link
  • Nearby shopping

google map of land parcels A and B at Upper Serangoon View

Google Map Showing the Approximate Locations of Land Parcels A and B at Upper Serangoon Road. The park connector is along the river.

Hits: 10454
Rate this blog entry:
1

Posted by on in Singapore Land Sales

A new condo yet to be name which we will call Condo @ Fernvale is expected to be built next to H2O Residences in Sengkang. The tender for this land parcel was awarded on June 14, 2013 at $533 psf which means the finished units should go for something like 2X this figure or about $1070 psf plus/minus. The location is a short walk from the Layar LRT and boasts of several schools in the vicinity such as Pei Hwa Secondary School which is within walking distance or the Nan Chiau schools which are just a short drive or bus ride away.

Buyers and investors will do well to watch or research government land sales to ascertain where the next properties will be built. Each tender execise will give location, type of land use and the winning psf from which the condo psf can be estimated.

Fernvale Condo Land

Hits: 1065
Rate this blog entry:
0

Posted by on in Video Release

Take a video tour of Rezi 3Two at http://youtu.be/EMFB7wL0U_Y to view all the important features of this development. The main selling points are: freehold tenure, lower quantums, location near Dakota MRT and the city and lots of schools, shopping and food within a 1km radius. Several of these are within walking distance.

Hits: 859
Rate this blog entry:
0

There a new condo in Geylang at 48 Lorong 32 that offers 1-bedroom+study units at lower quantums. This condo is within walking distance of Dakota MRT and is close to supermarkets, shopping centres and schools. Marina Bay and the CBD are a quick drive away. 2 and 3 bedroom units are also available. Call us at our hotline 97323160 to view the showflat and to get the latest on discounts and star buys or visit our microsite for Rezi 3Two.

Rezi 3Two Front View

Hits: 1097
Rate this blog entry:
0

HDB COV prices have been dropping over recent months. COV was $15000 and $12000 in September and October respectively and is predicted by some to fall to $10000 by year's end. HDB prices have dropped 1.6% in October compared with a small 0.2% gain in September which correlates with the rise in the number of resale HDB units in October, a 26.5% increase over September.

Over in the private residential market, resale prices declined only 0.1% from September. The suburban and central areas fell the most at 1.4 and 0.9% respectively vs a slight gain of 0.4% in the city fringes. Mirroring the increase in sales in the HDB market, 13.6% more units (486 units) exchanged hands in the resale market in October compared with September. This however is quite a drop compared to Oct 2012 when 1,435 unts exchanged hands. 

Both HDB and private residential markets have seen cooling measures introduced. HDB has capped the mortgate servicing ratio at 30% of the borrower's gross monthly income and reduced the tenure of loans to 25 years for HDB loans and 30 yrs for bank loans. Also, permanent residents are now barred from purchasing flats during the first 3 years after receiving PR status. The large number of new flats in the pipeline may also dampen the HDB resale market. For private residential properties, the total debt servicing ratio (TDSR) limits borrowers total debt obligation to 60% of gross monthly income and there is the additional buyer's stamp duty or ABSD have worked to dampen the market. For more details on the above, visit todayonline.com

For new private properties, many buyers are also staying in the sidelines as they perceive a bear market coming and are waiting for prices to drop. Units that are still moving tend to be the units in the lower quantum range as demonstrated by the success of the InFlora recently. Property developers have started to respond to market conditions by reducing prices.

 

Credit TodayOnline

Tagged in: ABSD cov hdb Resale TDSR
Hits: 876
Rate this blog entry:
1

The Skywoods Towers

Interested in The Skywoods but holding out for a lower price? The developer of The Skywoods is offering an additional 3% discount for a total of 28% discount on 10 star buy units. The star-buy units range from $706k to $1.58 million after discount for 1-4 bedroom units. Contact Faith at 97323160 for additional details and to make arrangements to view the showflat.

Hits: 1562
Rate this blog entry:
3

Some updates on show flats:

Liv on Wilkie show flat opens Oct19, 2013 from 10am-8pm.

Floravista/Floraview preview is tentatively scheduled for Oct 17, 2013.

Tagged in: show flat open
Hits: 799
Rate this blog entry:
1

Please visit our other property blog at http://sgpropertysource.blogspot.sg/. The intention of this blog is to do mini reviews or summaries of the properties showcased in sgpropertysource.com. Please send me your questions and feedback and we will get back to you asap.

Thank you.

Hits: 831
Rate this blog entry:
1

A Comparison of Recent Mixed Developments

Recently, Huttons Asia P/L has market a string of mixed developments which offer a mix of condo or strata style living with the convenience of F&B, all in one location. Here's a table that compares the mixed developments featured in this website to help our visitors narrow down their choices if they are looking to invest in either the residential or the commercial parts of these developments.

 Mixed Development Table (U/C)

Feature Junction Nine Residences The Venue FloraV The Midtown Onze OKIO Residences
Developer

 CEL-Yishun (Commercial) Pte Ltd

CEL-Yishun(Residential) Pte Ltd

Crescent View Developments Pte Ltd - JV between Hong Leong Holdings Ltd and CDL  Oxley YCK Pte Ltd Oxley-Lian Beng Pte Ltd  Heeton Holdings Ltd Selangor Dredging Bhd
Residential Section Nine Residences The Venue Residences FloraView The Midtown Residential   -  -
Commercial Section Junction Nine  The Venue Shoppes  FloraVista  The Midtown Commercial   -  -
Location 18 Yishun Ave 9 Tai Thong Crescent Ang Mo Kio St 66/Cactus Road

Commercial: 1187 Upper Serangoon Road Singapore 533971

Residential:1187 Upper Serangoon Road Singapore 533971

Hougang 

11 Kee Seng Street, Singapore 089218 in Tanjong Pagar Balestier Rd
Tenure 99 99 Freehold 99 Freehold Freehold
T.O.P. 2017 2017  2018   2018 2018  2015
Residential Units 186 260  90  160 56 104
Commercial Units 146 28 (23 are restaurants)  28  107 13  10
Strata Units Yes  Yes No  No No 8 garden villas
Nearest MRT/Distance  Yishun MRT NS13 (1.4) Potong Pasir NE (300m) Hougang (3min walk) Tanjong Pagar MRT EW15 (500m) Boon Keng MRT (1km)
Unit Types

17 Restaurants: 592-4196

129 Retail:161-10513

4 1-BR: 495

26 1-BR+Study: 549-570

22 2-BR:699

44 2-BR+Study: 710

51 3-BR: 914-1001

22 4-BR: 1173

11 5-BR: 1356-1367

6 Strata Terrace: 1549

23 Restaurants/F&B: 323-1302

5 Retail: 301-1130

24 1-BR: 495-753

114 2-BR: 840-1130

6 2-BR+Duplex: 72

72 3-BR: 1130-1313

28 4-BR: 1238

11 3-BR Dual Key: 1378

8 PH: 1948-2142

15 Restaurants: 678-797

13 Retail: 291-506

4 1-BR: 377-538

8 1+1: 560-592

30 2-BR: 463-753

18 3-BR: 667-764

7 2-BR PH: 657-1055

17 3-BR PH: 797-1259

6 4-BR PH: 1109-1346

55 Restaurants: 721-968 

52 Retail: 258-893

6 1-BR+Study+PES: 474-495

8 2-BR+PES: 678-710

4 3-BR+PES:721-882

42 1-BR+Study: 441-452

56 2-BR: 635-656

28 3-BR:689-721

6 2-BR PH: 882

7 3-BR PH: 1248-1302

3 4-BR PH: 1355-1571

 

6 Restaurants: 420-646

7 Retail:204-581

2 1-BR+Study+PES: 560

12 1-BR+Study: 506

14 1-BR+Study+Balcony: 570

2 3-BR+Entertainment Room+PES: 1108

12 3-BR+Entertainment Room: 1043

14 3-BR+Entertainment+Balcony: 1140

Commercial: 753-1023

1-BR: 420-431

1-BR with Garden Villa: 452-463

2-BR: 570-592

2-BR with Garden Villa: 657-667

Penthouse: 1044-1098

Dual Key  No Yes No  No   No  No
Hits: 1414
Rate this blog entry:
3