Download - Singapore Property Weekly Issue 262
-
8/16/2019 Singapore Property Weekly Issue 262
1/15
Issue 262Copyright © 2011-2016 www.propwise.sg. All Rights Reserved.
http://www.propwise.sg/http://www.propwise.sg/
-
8/16/2019 Singapore Property Weekly Issue 262
2/15
ContributeDo you have articles and insights and articles that you’d like to share
with thousands of readers interested in the Singapore property
market? Send them to us at [email protected] , and if they’re good
enough, we’ll publish them here, on our blog and even on Yahoo!
News.
AdvertiseWant to get your brand, product, service or property listing out to
thousands of Singapore property investors at a very reasonable
cost? Head over to www.propwise.sg/advertise/ to find out more.
CONTENTS
p2 Buying an HDB BTO Flat – One Young Working
Heartlander’s Experience and Advice
p9 Singapore Property News This Week
p12 Resale Property Transactions
(May 15 – May 20)
Welcome to the 262th edition of the
Singapore Property Weekly .
Hope you like it!
Mr. Propwise
FROM THE
EDITOR
mailto:[email protected]://www.propwise.sg/advertise/http://www.propwise.sg/advertise/mailto:[email protected]
-
8/16/2019 Singapore Property Weekly Issue 262
3/15
SINGAPORE PROPERTY WEEKLY Issue 262
Page | 2Back to Contents
By Heartland Boy (guest contributor)
It was not too long ago that I participated in
an HDB BTO (Housing Development Board
Build to Order) exercise. For the foreign
readers, this is a public housing system in
Singapore that allocates new HDB flats to
aspiring home owners. For first-timers, this
can be a pretty harrowing and confusing
experience. This is especially so when
everyone claims to be an “expert” when it
comes to property. Over-zealous parents,
well-meaning relatives and friends who
have gone through this baptism of fire
would chip in with their golden nuggets of
advice on how to game the HDB BTO
exercise.
Buying an HDB BTO Flat – One Young WorkingHeartlander’s Experience and Advice
-
8/16/2019 Singapore Property Weekly Issue 262
4/15
SINGAPORE PROPERTY WEEKLY Issue 262
Page | 3Back to Contents
For Heartland Girl (that’s my wife) and
myself, it was indeed a roller-coaster ride of
emotions. Not to exaggerate, tears were
shed and fault lines were drawn, all
unnecessary experiences that does not
have to happen to other couples out there
when shopping for an HDB BTO. Therefore,
having emerged better and stronger as a
couple from our own HDB BTO exercise, I
wish to share a few tips for aspiring home
owners out there.
4 TIPS ON BUYING AN HDB BTO
1. Propose as early as possible if you
have “decided” on the one
I had long decided on asking Heartland Girlto be my wife early on in our relationship in
2013. For practical reasons, I felt that the
wedding proposal and marriage could wait
as the HDB BTO would require
approximately four years to be built and
ready. Therefore, like every Singaporean
guy out there, I asked Heartland Girl if she
would like to buy an HDB flat before
proposing to her. But I never expected the
backlash.
I was put to the guillotine and almost never
lived to see another day because in that
moment, I obliterated the perfect white
knight in shining armour wedding proposaldream she had since she was a kid. To her,
this was akin to putting the cart before the
horse. It was taking her for granted .
So instead of time spent participating in
HDB BTO exercises, I spent months
appeasing the queen. Meanwhile, HDB
BTO launches for Toa Payoh, Kallang and
TelokBlangah all flew by. These were all
ideal locations.
-
8/16/2019 Singapore Property Weekly Issue 262
5/15
SINGAPORE PROPERTY WEEKLY Issue 262
Page | 4Back to Contents
It was too heart wrenching for me to watch
and I finally nipped the problem in the bud
by proposing to Heartland Girl in July 2014.
Thankfully, the stars remained aligned as
shortly after, there was an HDB BTO launch
in September 2014 that featured Boon
Keng!
Of course, another more practical reason
for proposing early is to take advantage of
financial schemes from the HDB when youare still not earning much.
2. Separate needs from wants
Besides Tip No.1, which may not be
applicable to everyone, the other equally
important tip is to separate needs from
wants. If you ask Heartland Girl what her
dream house looks like, it would be as
follows:
“I want a house that is centrally located, has
a walk-in closet, big enough for my Barbie
doll collection, near to an MRT stop, near to
amenities, has a big balcony, big enough to
accommodate a kennel for a Golden
Retriever etc.”
Honestly, the list would have gone on had I
not stopped her. That was a good wish list
to have for the future, but definitely not for
now. It is important that the couple sitsdown to have a proper, mature adult
conversation and sieve out the needs from
the wants. In the end, we settled on the
following needs:
Minimally, the HDB BTO has to be
within the city fringe
It has to be truly accessible by MRT,
buses and expressways
http://heartlandboy.com/poh-kim-jewellery-offers-the-best-value-for-engagement-ring/http://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/new/cpf-housing-grants-for-hdb-flatshttp://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/new/cpf-housing-grants-for-hdb-flatshttp://heartlandboy.com/poh-kim-jewellery-offers-the-best-value-for-engagement-ring/
-
8/16/2019 Singapore Property Weekly Issue 262
6/15
SINGAPORE PROPERTY WEEKLY Issue 262
Page | 5Back to Contents
It has to be near a hawker center and
wet market (you can never take the
Heartlander out of both of us)
It has to be sufficiently big for a family
We settled on this set of needs so that we
had the most exit options when
the Minimum Occupation Period is up.
3. Prioritise your needs
After you have separated your needs fromwants, it is important to rank them in order
of importance. Some of the most common
needs are:
I want a big house (5 room flat)
I want to stay near my parents
I want to be in a mature estate as the
amenities are better
I want to be within walking distance to
the MRT
I want a central location
I want an affordable HDB BTO flat
For myself, the need to stay in a central
location far outweighs any of the other
needs. The commute to the Central
Business District is drastically reduced
when staying in a city fringe location
compared to a suburban location. I value
time as much as money. For Heartland Girl,
being within walking distance to an MRT
was the most important. Therefore, when
the Boon Keng HDB BTO was launched, it
was a dream location for us as it was
exactly what we needed.
http://www.hdb.gov.sg/cs/infoweb/business/estate-agents--salespersons/selling-a-flat/mop-undone-pagehttp://www.hdb.gov.sg/cs/infoweb/business/estate-agents--salespersons/selling-a-flat/mop-undone-pagehttp://www.hdb.gov.sg/cs/infoweb/business/estate-agents--salespersons/selling-a-flat/mop-undone-pagehttp://www.hdb.gov.sg/cs/infoweb/business/estate-agents--salespersons/selling-a-flat/mop-undone-pagehttp://www.hdb.gov.sg/cs/infoweb/business/estate-agents--salespersons/selling-a-flat/mop-undone-pagehttp://www.hdb.gov.sg/cs/infoweb/business/estate-agents--salespersons/selling-a-flat/mop-undone-page
-
8/16/2019 Singapore Property Weekly Issue 262
7/15
SINGAPORE PROPERTY WEEKLY Issue 262
Page | 6Back to Contents
Picture 1: Location of St George’s
Towers HDB BTO Project
To some couples, the need to stay near
their parents could be the most important.
The convenience of having trusted adults
babysit their child in the day may be
something that cannot be bought with
money. It is OK to have different needs;what’s most important is to fully rationalize,
and understand as a couple, why both of
you had bought a specific HDB BTO in that
particular location.
Another piece of advice: this set of needs
should be unique to the couple, not to the
couple’s parents!
4. Remember that the HDB BTO is a
demand-supply game
Allocation of the HDB BTO flat is ultimately
a mathematical exercise based on demandand supply. Thus it is important to
understand how the demand and supply
factors affect your choice.
SINGAPORE PROPERTY WEEKLY I 262
-
8/16/2019 Singapore Property Weekly Issue 262
8/15
SINGAPORE PROPERTY WEEKLY Issue 262
Page | 7Back to Contents
Some demand factors to consider include:
Is the HDB BTO in a mature estate?
Is the project located near to the MRT?
What is the impact of the salary ceiling
revision by the government?
Some supply factors to consider include:
What is the size of the current launch
and the preceding launches?
Whether a Sale of Balance Exercise is
concurrently launched at the same
time?
When was the last time there was an
HDB BTO exercise conducted in that
location?
Within the project, were both 5 room
and 4 room flats being offered?
Picture 2: St George’s Towers Artist’s
Impression
We eventually decided to bid for a 3-room
HDB BTO flat at Boon Keng instead of a 4-
room flat.
SINGAPORE PROPERTY WEEKLY I 262
-
8/16/2019 Singapore Property Weekly Issue 262
9/15
SINGAPORE PROPERTY WEEKLY Issue 262
Page | 8Back to Contents
This was to give us a 10X better chance of
landing an HDB BTO flat at that location.
Accordingly, this meant giving up on the
need for the flat to be “sufficiently big for
the family.” This was a painful decision andnot a decision popular with their family or
friends. But remember Tip No. 3 – only the
couple truly knows their own set of needs.
Allocation of an HDB BTO is also not based
on a “first come, first serve” basis, so itwould be wise to monitor the demand first
during the exercise period. This allows you
to test your hypothesis before making the
final decision.
So here you go, roll the dice and good luck!
By Heartland Boy , a young working
heartlander who blogs about his chase for
financial independence.
SINGAPORE PROPERTY WEEKLY Issue 262
http://heartlandboy.com/http://www.moneymatters.sg/http://heartlandboy.com/http://heartlandboy.com/http://heartlandboy.com/
-
8/16/2019 Singapore Property Weekly Issue 262
10/15
SINGAPORE PROPERTY WEEKLY Issue 262
Singapore Property This Week
Page | 9Back to Contents
Residential
More BTO flats in popular mature estates
8,940 flats were launched for sale on
Tuesday by the Housing & Development
Board (HDB) under the build-to-order (BTO)and sale of balance flats (SBF) exercise in
May, with one-quarter of the BTO flats
located in the popular mature estates of Ang
Mo Kio and Bedok. Experts are already
expecting the BTO flats in these mature
estates to be in high demand, with about four to five applications per unit for BTOs in Ang
Mo Kio and Bedok; and two applications per
unit in Bukit Panjang and Sembawang.
(Source: Business Times)
Qingjian tops bid at Bukit Batok West site
The tender for the 1.5-hectare, 99-year
leasehold land parcel in Bukit Batok West
Avenue 6 drew 11 bids. Qingjian tops the bid
with S$301.16 million or S$634.57 per
square foot per plot ratio (psf ppr) was 8.3
per cent more than the next highest bid of
S$277.98 million (S$585.73 psf ppr) from
Robert Kuok's Allgreen Properties.
SINGAPORE PROPERTY WEEKLY Issue 262
-
8/16/2019 Singapore Property Weekly Issue 262
11/15
SINGAPORE PROPERTY WEEKLY Issue 262
Page | 10Back to Contents
The site is in a less-developed locale of Bukit
Batok and not within walking distance of any
MRT station.
(Source: Business Times)
Stars of Kovan units fetch even less than
expected
Cheung Kong Property Holdings has sold
around 60 units of its private condominium
project Stars of Kovan at an average price of
S$1,408 per square foot - lower than the
average pricing of S$1,550 to S$1,600 as
indicated. The one-bedroom to three-
bedroom units ranged between S$1,227 and
S$1,554 psf. However, Francis Wong,
director of Property Enterprises Development,
a member of Cheung Kong Property Holding
was pleased at the high take-up rate of 90%
seen over this weekend.
(Source: Business Times)
Mixed views about reserve site in West
Coast Vale
The Urban Redevelopment Authority (URA)
on Wednesday released detailed sales
conditions for a residential reserve site in
West Coast Vale, which property specialists
are mixed in their views about the site's
appeal. The 99-year leasehold site can
potentially yield up to 520 residential units
with a site area of 16,378 square metres. It is
located along Sungei Pandan and linked to
West Coast Highway and Ayer Rajah
Expressway (AYE). Some positive attributes
of the site are that it is easily accessible to the
highways while shielded by neighbouring
condominium development from the trafficnoise of AYE. However, the site is also
relatively far from the MRT stations and
amenities.
(Source: Business Times)
SINGAPORE PROPERTY WEEKLY Issue 262
-
8/16/2019 Singapore Property Weekly Issue 262
12/15
SINGAPORE PROPERTY WEEKLY Issue 262
Page | 11Back to Contents
Commercial
Good time to purchase commercial
properties: CityDev
Rising interest rates makes such assetscheaper worldwide, making it a good time to
purchase commercial properties, says CEO
of City Development. City Developments has
been diversifying outside Singapore after
government curbs stifled demand back at
home. It will focus on five markets as part of its diversification - China, Australia, Japan,
the US and the UK. Its CEO opined that
market volatility has increased the appeal of
property as an investment, even amidst an
uncertain global economic outlook.
(Source: Business Times)
ShunTak acquires first hotel site in
Singapore
Hong Kong-Listed Shun Tak Holdings, a
company founded by casino tycoon Stanley
Ho, has acquired a prime freehold site at 9
Cuscaden Road, belonging to the late Tan
Hoon Siang, the great-grandson of the
famous philanthropist Tan Tock Seng. The
site is opposite Tanglin Shopping Centre, and
is between St Regis Hotel and Orchard
Parade Hotel. The sale price reflects a land
rate of about S$2,145 psf and there are
considerations to turn the site into a
residential project, subject to approval and
payment of development charges, as
suggested by The Urban Redevelopment Authority (URA).
(Source: Business Times)
SINGAPORE PROPERTY WEEKLY Issue 262
-
8/16/2019 Singapore Property Weekly Issue 262
13/15
SINGAPORE PROPERTY WEEKLY Issue 262
Page | 12Back to Contents
Non-Landed Residential Resale Property Transactions for the Week of May 15 – May 20
Postal
DistrictProject Name
Area
(sqft)
Transacted
Price ($)
Price
($ psf)Tenure
1 ONE SHENTON 1,195 1,830,000 1,532 99
4 CARIBBEAN AT KEPPEL BAY 1,227 1,800,000 1,467 99
4 THE INTERLACE 2,067 2,450,000 1,185 99
5 BOTANNIA 1,216 1,500,000 1,233 956
5 HERITAGE VIEW 969 1,110,000 1,146 99
5 FABER CREST 1,033 918,000 888 99
5 FABER CREST 1,658 1,370,000 826 99
5 FABER CREST 1,798 1,480,000 823 99
7 TEXTILE CENTRE 883 800,000 906 99
8 CITYLIGHTS 678 1,100,000 1,622 99
8 BRISTOL LODGE 958 987,000 1,030 FH
9 OUE TWIN PEAKS 549 1,625,000 2,960 99
9 OUE TWIN PEAKS 549 1,597,050 2,909 99
9 OUE TWIN PEAKS 570 1,573,600 2,758 99
9 URBAN SUITES 1,604 4,280,000 2,669 FH
9 OUE TWIN PEAKS 549 1,454,850 2,650 99
9 OUE TWIN PEAKS 549 1,452,654 2,646 99
9 OUE TWIN PEAKS 549 1,438,280 2,620 99
9 OUE TWIN PEAKS 549 1,400,000 2,550 99
9 OUE TWIN PEAKS 549 1,394,460 2,540 99
9 OUE TWIN PEAKS 549 1,388,000 2,528 99
9 OUE TWIN PEAKS 549 1,383,900 2,521 99
Postal
DistrictProject Name
Area
(sqft)
Transacted
Price ($)
Price
($ psf)Tenure
9 OUE TWIN PEAKS 1,055 2,637,500 2,500 99
9 OUE TWIN PEAKS 1,055 2,637,500 2,500 99
9 OUE TWIN PEAKS 1,055 2,616,400 2,480 99
9 OUE TWIN PEAKS 1,604 3,889,700 2,425 99
9 HILLTOPS 1,335 3,200,000 2,397 FH
9 OUE TWIN PEAKS 549 1,281,915 2,335 99
9 CAIRNHILL CREST 1,733 3,150,000 1,818 FH
9 THE TRILLIUM 1,399 2,540,000 1,815 FH
9 ASPEN HEIGHTS 1,044 1,655,000 1,585 999
9 THE BOTANIC ON LLOYD 3,488 5 ,200,000 1,491 FH
10 ARDMORE THREE 1,787 5,687,605 3,183 FH
10 ARDMORE THREE 1,744 5,390,530 3,091 FH
10 FOUR SEASONS PARK 2,874 7,500,000 2,610 FH
10 CUSCADEN ROYALE 1,399 2,600,000 1,858 FH
10 GOODWOOD RESIDENCE 3,089 5,180,000 1 ,677 FH
10 THE SIXTH AVENUE RESIDENCES 1,302 1,990,000 1,528 FH
10 THE CORNWALL 1,927 2,820,000 1,464 FH
10 THE ELEMENT @ STEVENS 1,389 2,020,000 1,455 FH
10 VALLEY PARK 1,216 1,750,000 1,439 999
10 MONTVIEW 1,507 2,160,000 1,433 FH
10 CHIVERTON 1,292 1,820,000 1,409 FH
10 SOMMERVILLE PARK 2,325 3,120,000 1,342 FH
SINGAPORE PROPERTY WEEKLY Issue 262
-
8/16/2019 Singapore Property Weekly Issue 262
14/15
SINGAPORE PROPERTY WEEKLY Issue 262
Page | 13Back to Contents
Postal
DistrictProject Name
Area
(sqft)
Transacted
Price ($)
Price
($ psf)Tenure
11 RESIDENCES @ EVELYN 1,141 2,025,000 1,775 FH
11 SKY@ELEVEN 2,271 3,715,000 1,636 FH11 NEWTON ONE 1,916 3,050,000 1,592 FH
11 SKY@ELEVEN 2,713 4,200,000 1,548 FH
11 NOVELIS 807 1,230,000 1,524 FH
11 AMARYLLIS VILLE 958 1,391,888 1,453 99
11 SHELFORD REGENCY 1,281 1,825,000 1,425 FH
12 VISTA RESIDENCES 904 1,310,888 1,450 FH
12 R IVERSIDE MELODIES 1,421 1,730,000 1,218 FH
12 TWIN HEIGHTS 1,421 1,560,000 1,098 FH
13 ONE LEICESTER 904 1,160,000 1,283 FH
14 VIENTO 474 600,000 1,267 FH
14 THE VINES 1,055 1,060,000 1,005 FH
14 THE SUNNY SPRING 1,066 1,050,000 985 FH
15 THE MEYERISE 1,270 2,595,000 2,043 FH
15 THE MEYERISE 1,313 2,337,000 1,780 FH
15 SILVERSEA 1,507 2,148,888 1,426 99
15 VERSILIA ON HAIG 1,023 1,310,000 1,281 FH
15 THE ESTA 1,507 1,900,000 1,261 FH
15 SUNSHINE GRANDEUR 635 730,000 1,149 FH
15 SANCTUARY GREEN 1,141 1,267,000 1,110 99
15 THE MONTAGE 1,098 1,100,000 1,002 FH
Postal
DistrictProject Name
Area
(sqft)
Transacted
Price ($)
Price
($ psf)Tenure
15 CEYLON CREST 1,927 1,790,000 929 FH
15 CANNAVILLE 1,206 1,108,000 919 FH15 VILLA MARINA 1,916 1,560,000 814 99
15 VILLA MARINA 1,679 1,275,000 759 99
16 COSTA DEL SOL 1,238 1,310,000 1,058 99
16 BAYSHORE PARK 3,326 3,200,000 962 99
16 CASA MERAH 1,582 1,520,000 961 99
16 EAST MEADOWS 1,216 1,150,000 945 99
16 BAYSHORE PARK 936 795,800 850 99
16 LAGUNA GREEN 1,152 950,000 825 99
17 HEDGES PARK CONDOMINIUM 484 525,000 1,084 99
17 CARISSA PARK CONDOMINIUM 969 840,000 867 FH
17 EDELWEISS PARK CONDOMINIUM 1,281 1,028,000 803 FH
17 BALLOTA PARK CONDOMINIUM 1,313 830,000 632 FH
18 THE TROPICA 1,227 1,000,000 815 99
18 TROPICAL SPRING 1,389 1,120,000 807 99
19 THE SCALA 474 710,000 1,499 99
19 THE MINTON 1,453 1,480,000 1,018 99
19 THE MINTON 980 990,000 1,011 99
19 THE SPRINGBLOOM 1,302 1,301,888 1,000 99
19 PALM GROVE CONDOMINIUM 1,615 1,550,000 960 999
19 CHUAN PARK 1,851 1,610,000 870 99
SINGAPORE PROPERTY WEEKLY Issue 262
-
8/16/2019 Singapore Property Weekly Issue 262
15/15
SINGAPORE PROPERTY WEEKLY Issue 262
Page | 14Back to Contents
NOTE: This data only covers non-landed residential resale propertytransactions with caveats lodged with the Singapore Land Authority.Typically, caveats are lodged at least 2-3 weeks after a purchasersigns an OTP, hence the lagged nature of the data.
Postal
DistrictProject Name
Area
(sqft)
Transacted
Price ($)
Price
($ psf)Tenure
19 CHUAN PARK 1,851 1,450,000 783 99
19 RIO CASA 1,625 845,000 520 104
20 TRESALVEO 603 858,000 1,423 FH
20 SEASONS VIEW 1,141 1,120,000 982 99
20 GRANDEUR 8 1,421 1,390,000 978 99
21 MAPLEWOODS 1,787 2,420,000 1,354 FH
21 MAPLEWOODS 1,399 1,860,000 1,329 FH
21 MAPLEWOODS 1,399 1,790,000 1,279 FH
21 GARDENVISTA 1,324 1,600,000 1,208 99
21 THE RAINTREE 926 1,025,000 1,107 99
21 PARC PALAIS 1,238 1,200,000 969 FH
21 SHERWOOD CONDOMINIUM 1,259 1 ,185,000 941 FH
21 BROOKVALE PARK 2,400 1,980,000 825 999
23 THE MADEIRA 1,302 1,150,000 883 99
23 CENTURY MANSIONS 915 770,000 842 FH
23 REGENT HEIGHTS 1,023 816,000 798 99
23 PARKVIEW APARTMENTS 936 695,000 742 99
25 PARC ROSEWOOD 431 515,000 1,196 99
25 ROSEWOOD 1,173 880,000 750 99
26 SEASONS PARK 1,292 1,010,000 782 99
27 THE MILTONIA RESIDENCES 517 575,000 1,113 99
28 GRANDE VISTA 2,024 1,530,000 756 999
http://propertymarketinsights.com/