Download - Singapore Property Weekly Issue 87.pdf
-
7/29/2019 Singapore Property Weekly Issue 87.pdf
1/24
Issue 87Copyright 2011-2012 www.Propwise.sg. All Rights Reserved.
http://www.propwise.sg/http://www.propwise.sg/ -
7/29/2019 Singapore Property Weekly Issue 87.pdf
2/24
ContributeDo you have articles and insights and articles that youd like to share
with thousands of readers interested in the Singapore property
market? Send them to us at [email protected] , and if theyre good
enough, well 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 5 Cheapest New Property Projects of the Month
p9 Questions from a Confused First-Time Home Buyer
p14 Property Buying Tip #1: Where to invest?
p15 Singapore Property News This Week
p22 Resale Property Transactions
(January 2 January 8)
Welcome to the 87th 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] -
7/29/2019 Singapore Property Weekly Issue 87.pdf
3/24
SINGAPORE PROPERTY WEEKLY Issue 87
Page | 2Back to Contents
5 Cheapest New Property Projects of the Month
Looking for an affordable property? In this
article, based on analysis done at
PropertyMarketInsights.com, we share with
you the five cheapest non-landed new sale
properties sold by developers in Singapore in
the month of December 2012 on a per square
foot basis, based on URA data.
This list is a quick way for you to identify
where the cheapest new projects are. By
looking at the location, number of units sold
and prices, you can and potentially spot
interesting opportunities in projects that are
nearby that could be selling at a significantdiscount, or identify new projects that are
priced at a bargain. Dont forget to do your
own due diligence before committing to any
purchase!
http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/ -
7/29/2019 Singapore Property Weekly Issue 87.pdf
4/24
SINGAPORE PROPERTY WEEKLY Issue 87
Page | 3Back to Contents
5. Heron Bay, $738 PSF
(All map screenshots are taken from
OneMap.sg)
Heron Bay is at fifth place with $738 PSF,
with 11 units sold in December. The 99 year
leasehold condominium is expected to be
completed by 2016 with 394 units. Some of
Heron Bay's feature highlights include a
discovery trail, water edge viewing deck,
aquatic adventure corner, eco trellis,
rainforest skylight, hydro spa pool and
sensory trail. Heron Bay is located at Upper
Serangoon View near Hougang MRT and
Khatib MRT. Nearby schools include
Serangoon Secondary School and Rivervale
Primary School. Residents can visit nearby
Sheng Siong, Cold Storage, NTUC Fairprice
supermarkets or Hougang Plaza, Hougang
Mall and Compass Point for daily amenities.
-
7/29/2019 Singapore Property Weekly Issue 87.pdf
5/24
SINGAPORE PROPERTY WEEKLY Issue 87
Page | 4Back to Contents
4. The Topiary, $737 PSF
The Topiary takes fourth place with $737 PSF
and a total of 288 units sold in December.
The 99 year leasehold executivecondominium is expected to be completed by
2016 with 700 units. The Topiary offers
facilities such as swimming pool, BBQ
pavilion, tennis court, piano room, games
room and hot spring. The Topiary is located at
Fernvale Lane, near Fernvale LRT and
Buangkok MRT. Nearby schools include Pei
Hwa Secondary School and Fernvale Primary
School. Residents can go to Fernvale Point
and Greenewich Point for daily amenities.
-
7/29/2019 Singapore Property Weekly Issue 87.pdf
6/24
SINGAPORE PROPERTY WEEKLY Issue 87
Page | 5Back to Contents
3. Waterbay, $736 PSF
With a median price of $736 PSF, Waterbay
is in third place with 31 units sold this month.
The 99 year leasehold condominium isexpected to be completed by 2016 with 383
units. Waterbay offers interesting array of
facilities like gym, cascading waterfall,
reading pavilion, children's lounge, tea
pavilion, sun lounge and the rain shower.
Waterbay is located at 45, Edgefield plains,
near Cove LRT and Punggol MRT. Nearby
schools include Punggol Secondary School
and Edgefield Primary School. Residents can
go to Compass Point for daily amenities.
-
7/29/2019 Singapore Property Weekly Issue 87.pdf
7/24
SINGAPORE PROPERTY WEEKLY Issue 87
Page | 6Back to Contents
2. 1 Canberra, $717 PSF
In second place is 1 Canberra with a median
sales price of $717 PSF, with 19 units sold in
the month. The 665-unit ExecutiveCondominium is expected to be completed in
2016. 1 Canberra is located at Canberra
Drive. It comes with a variety of pools and
facilities like a beach splash pool, wading
pool, outdoor aqua gym, reflection pool, water
lounges, hydrospa and free form pool. 1Canberra is just opposite Ahmad Ibrahim
Secondary School and Yishun Primary
School. 1 Canberra is also close to Yishun
MRT and Northpoint Shopping Centre.
SINGAPORE PROPERTY WEEKLY I 87
-
7/29/2019 Singapore Property Weekly Issue 87.pdf
8/24
SINGAPORE PROPERTY WEEKLY Issue 87
Page | 7Back to Contents
1. The Canopy, $709 PSF
Located at Yishun Avenue 11, The Canopy is
the cheapest in December with a median
price of $709 PSF and only 1 unit sold in themonth. With 406 units the Executive
Condominium is expected to be completed in
2014. The Canopy offer facilities like
clubhouse, fitness corner, badminton hall,
gymnasium room, lap pool and playground. It
is a few minutes ride away from SengkangMRT. Nearby schools include Northb Brook
Secondary School and Huamin Primary
School. Residents can visit the NTUC
Fairprice at Yishun Ring Road for daily
amenities.
SINGAPORE PROPERTY WEEKLY I 87
-
7/29/2019 Singapore Property Weekly Issue 87.pdf
9/24
SINGAPORE PROPERTY WEEKLY Issue 87
Page | 8Back to Contents
Looking at the top five cheapest properties
sold in December, we can see that most are
Executive Condominiums and not in central
locations. Till next month!
Want a longer list of cheap new sale projects
with more non-EC names? You can get this
and much more at
PropertyMarketInsights.com, a site that helps
investors spot opportunities and time their
Singapore property purchases. Click here to
get your FREE report on Understanding the
Property Market Cycle to invest profitably
now.
SINGAPORE PROPERTY WEEKLY Issue 87
http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://www.moneymatters.sg/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/http://propertymarketinsights.com/ -
7/29/2019 Singapore Property Weekly Issue 87.pdf
10/24
SINGAPORE PROPERTY WEEKLY Issue 87
Page | 9Back to Contents
Questions from a Confused First-Time Home Buyer
By The Folks (guest contributor)
The wife and I came across an article in the
Forum page of our de facto English
newspaper (So many questions, so few
answers) from a certain Mr. Tan who
happens to be an enthusiastic first-time home
buyer. He claimed that the numerous doubts
and anomalies he had noticed after viewing
several new and completed projects could not
be explained clearly even by experienced real
estate agents. He went on to list the
questions he is stilling seeking answers to.
While maintaining that we are not real estate
experts (and thus not dispensing professional
advice here), we like to have a crack at Mr.
Tan's questions:
SINGAPORE PROPERTY WEEKLY Issue 87
-
7/29/2019 Singapore Property Weekly Issue 87.pdf
11/24
SINGAPORE PROPERTY WEEKLY Issue 87
Page | 10Back to Contents
1. What constitutes part of total floor area
and what does not?
Technically speaking, everything that is shown
on the floor plan of an apartment/house will
form a part of the total floor area. The obvious
ones are open roof terraces and private
enclosed spaces. But areas labeled as RC
ledge, A/C ledge, void, void over
staircases, flat roof of houses (no access
except for maintenance) etc are generally
included as part of the total floor area as well.
The wife and I have previously come across a
new project in the Holland area (recently
TOPed) where a planter box located on the
outer wall of the master bathroom toilet was
included as part of the total area, despite the
fact that one has no access whatsoever to
this planter box!
The areas that generally do not constitute part
of the total area are what we term common
areas, e.g. the walkway outside your
apartment, the lift landings (unless your
apartment has a private lift, in which case the
lift landing is also part of your total area) etc.
2. Is it true that unusable space
constitutes 20% to 35% of a units total
floor area (jumbo penthouses excluded)?
Although this differs between projects, 10% to
20% of unusable space is a realistic ballpark.
3. Why are secondary market units valued
at a hefty discount to primary market
ones?
The can be due to various factors: age and
condition of the older development, pedigree
of older development versus new, and insome cases, the perception of owners in the
older development as to how much they can
move prices of their units up vis-a-vis the
price of neighboring new development.
SINGAPORE PROPERTY WEEKLY Issue 87
-
7/29/2019 Singapore Property Weekly Issue 87.pdf
12/24
SINGAPORE PROPERTY WEEKLY Issue 87
Page | 11Back to Contents
But the primary reason is due to the obscene
bids that developers have made for land
parcels over the last two to three years,
coupled with increase in construction costs.
As such, their break-even price is muchhigher now resulting in higher selling prices
for new projects.
4. Can small office, home office (SOHO)
units with commercial titles like those at
Southbank and The Central be purchased
for residential use? Is office-cum-
residential use allowed?
This is best explained by URA on their
website, which has this to say:
Increasingly, we are seeing more
developments marketed as SOHO in the
property market. SOHO is essentially a
marketing term used by property
developments to refer to Small Office, Home
Office. Many would-be buyers are unsure
whetherSOHOunits are approved for office
or home use, or both.
URA does not recognize SOHO as a
planning term and does not specifically
approve a development for SOHO use.
Rather, developments being marketed as
SOHO today are approved either as Office or
Residential but not for both uses.
We have noticed that some officedevelopments are being marketed as
residential apartments by calling themselves
SOHO. This is misleading and inappropriate
as the office development may not fully meet
the guidelines and various technicalagencies
requirements for Residential use (eg.provision of sufficient parking facilities).
Similarly, home buyers should not be misled
by the term SOHO to think that they can
convert the residential unit to a pure office.
SINGAPORE PROPERTY WEEKLY Issue 87
-
7/29/2019 Singapore Property Weekly Issue 87.pdf
13/24
SINGAPORE PROPERTY WEEKLY Issue 87
Page | 12Back to Contents
Residential homeowners or tenants who wan
to conduct selected small-scale businesses
from homes can make use of the existing
Home Office Scheme. This is not to be
confused with SOHO as these units undethe Home Office Scheme are still approve
and used primarily for Residential purposes.
To ensure that the home office uses do no
disturb the neighbors, applicants under the
Home Office Scheme must meet the
stipulated conditions and performance criteria.
For example, there is a limit on the number o
employees and type of business uses tha
can be conducted within the homes. More
details on the Home Office Scheme can be
found a
http://edanet.ura.gov.sg/dcd/homeoffice/HOM
ainPage/HOindex.jsp.
Would-be property buyers should be cautious
and are advised to check the approved use of
the property before committing to any
purchases.
5. Some formerly freehold estates that
went en bloc are now being sold as new
99-year leasehold condos. Are there any
implications to buyers - legal or
otherwise?
We are talking about the likes of The Shore
Residences in Katong (formerly Rose
Garden), which is sold on a 103-year leasebut resides on a freehold site.
Realistically speaking, this is no difference to
buying a leasehold property. The only major
implication to buyers (that the wife and I can
think of) is that, at the end of the 103-year
lease, the land owner can rightfully take
back the land and do whatever with it as they
please, with the buyers/owners having little/no
recourse.
SINGAPORE PROPERTY WEEKLY Issue 87
-
7/29/2019 Singapore Property Weekly Issue 87.pdf
14/24
SINGAPORE PROPERTY WEEKLY Issue 87
Page | 13Back to Contents
6. Why are new developments prohibited
from enclosing balconies and having
covered structures built on top of open
roof terraces whereas old estates aren't?
This has to do with not changing the facade ofthe estate. Imagine what a brand new
development will look like if every owner
decides to have their own way with their
balconies and roof terraces? So a rule is
generally put in place at new developments
prohibiting any additions/alterations that willalter the facade of the estate. But these rules
will generally be relaxed as the estate gets
older, although we are unsure if there is a
stipulated number of years before this
happens.
7. What is the difference between unit size,
gross floor area and strata floor area?
This is one that we are not exactly sure (so
we stand corrected) but we believe the terms
are used interchangeably these days to mean
one and the same thing. However, Gross
Floor Area is typically referred to in formal and
legal documents while Strata Floor Area is
used when determining share-values of theunit concerned.
8. Why is photography disallowed in
showflats?
This question is best left to the developers,
but we reckon they do not want people to just
go to their showflats to steal ideas without
the slightest intention of buying.
There you have it! So if Mr. Tan happens to
read our blog, hope the above helped in some
small ways towards explaining your numerous
doubts and anomalies...
By The Folks, who blog about Singapore
property atSG PropTalk.
SINGAPORE PROPERTY WEEKLY Issue 87
http://www.sgproptalk.blogspot.com/http://www.sgproptalk.blogspot.com/http://www.sgproptalk.blogspot.com/http://www.sgproptalk.blogspot.com/ -
7/29/2019 Singapore Property Weekly Issue 87.pdf
15/24
SINGAPORE PROPERTY WEEKLY Issue 87
Page | 14Back to Contents
Property Buying Tip #1: Where to invest?
(Reference: www.ura.gov.sg)
One of the most important websites to gather
information about Singapores physical
development is www.ura.gov.sg. Some of the
key information available on this website
includes:
The Concept Plan which maps out the
countrys vision for the next 40 to 50
years based on the population scenario
projections and taking into account the
scarcity of land. The Concept Plan isreviewed every ten years. This long-term
plan ensures there is sufficient land to
meet the anticipated population andeconomic growth in order to provide a
good living environment.
The Master Plan is the statutory land use
plan which guides Singapores
development in the medium term over the
next 10 to 15 years. The Master Plan is
reviewed every five years.
You can consider investing in the Regional
Highlights and Growth Areas identified in the
Master Plan.
By Eileen Tan and Ui Wei Teck, property
investors and authors of Enjoying Mid-Life
Without Crisis.
SINGAPORE PROPERTY WEEKLY Issue 87
http://www.ura.gov.sg/http://www.ura.gov.sg/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://www.ura.gov.sg/http://www.ura.gov.sg/http://www.ura.gov.sg/http://www.ura.gov.sg/http://www.ura.gov.sg/http://www.ura.gov.sg/http://www.ura.gov.sg/http://www.ura.gov.sg/http://www.ura.gov.sg/http://www.ura.gov.sg/http://www.ura.gov.sg/http://www.ura.gov.sg/http://www.ura.gov.sg/http://www.ura.gov.sg/ -
7/29/2019 Singapore Property Weekly Issue 87.pdf
16/24
S G O O ssue 8
Singapore Property This Week
Page | 15Back to Contents
Residential
Few units sold at showflats following new
cooling measures
The new cooling measures which include the
cap on EC unit sizes at 160 sq m, and the
inclusion of private enclosed spaces and
private roof terraces in the 10% bonus GFA
had resulted in slower sales at showflats -
CityLife@Tampines, which had only 20 three-
bedroom units left for sale, sold only two units
on Sunday. Other developments which had a
quiet weekend at their showflats include the
52-unit SeaSuites and 148-unit Village along
Pasir Panjang. The new cooling measures
was targeted at keeping the size and the price
of ECs down but some believe that it might be
better to introduce a ratio for balcony space
to interior space rather than simply cappingthe GFA. While sales volume is expected to
fall, it is expected to recover a little the next
month as potential buyers might start buying
in theirchilds name.
(Source: Business Times)Private home sales and prices to fall
Following the latest round of cooling
measures, analysts have predicted a fall in
transaction volumes ranging from 20 to 50%
to 10,000 units in 2013 while prices fall by 5-
10%. Investment demand and the mass-
market is likely to be affected the most, and
resale transactions is likely to fall by 30-50%
SINGAPORE PROPERTY WEEKLY Issue 87
-
7/29/2019 Singapore Property Weekly Issue 87.pdf
17/24
Page | 16Back to Contents
from 10,000 units per year as owners hold on
to their property if they have more than one to
avoid incurring the ABSD when they purchase
another. Further, the luxury property market is
likely to suffer as a further 5% ABSD isimposed on foreigners (bringing it to 15%)
who make up 30% of the buyers. Some
thought this unnecessary since the foreign
non-PR purchases had accounted for 7% of
the transactions in each quarter in 2012 and
below 10% of the transactions involvingproperties priced below $1,670 psf. Given the
low interest rates, it is likely that more cooling
measures will be introduced.
(Source: Business Times)
Private property rentals likely to staystable
The latest cooling measures such as
increased minimum cash downpayment for
second and subsequent homes, increased
ABSD and lowered LTV limits for individuals
with outstanding housing loans may result in
less demand for private homes and possibly
an increase in demand in the rental marketsince potential buyers affected by the new
measures may choose to rent instead.
However, most analysts do not expect an
increase in rentals but instead, a stabilisation.
The HDB rental market, on the other hand,
may see an increase by 3% since PR ownersare now disallowed from subletting the entire
flat leading to a smaller supply.
(Source: Business Times)
Developers go ahead without change in
plans
It would seem that most developers planning
to launch their projects would continue to do
so without changes in dates and pricing while
SINGAPORE PROPERTY WEEKLY Issue 87
-
7/29/2019 Singapore Property Weekly Issue 87.pdf
18/24
Page | 17Back to Contents
developers who have recently launched their
projects also have no intention of changing
their prices yet. For example, prices in the 46-
unit Liberte in Sarkies Road still start at $1.8
million for a 743 sq ft two-bedroomapartment. In the last round of cooling
measures, developers had offered incentives
such as furniture vouchers and
reimbursements. However, these incentives
have yet to been seen as possibly many are
still uncertain of what to expect. Some, suchas the 630-unit Q Bay Residences in
Tampines Avenue 10, may see a 5-7 % fall in
prices to below $1,000 psf.
(Source: Business Times)
2012s record breaking numbers unlikelyto repeat
22,290 private homes excluding ECs were
sold in 2012, breaking 2010s record of
16,292 units. However, this is unlikely to be
seen now following the recent cooling
measures. This can already be seen in the
proportion of sales OCR accounted for in
December, 640 of the 1,410 units or 44%,compared to the earlier monthly average of
1,441 units or 75% of the total in January to
November 2012. Likewise, only 25% or 248
of the 1,011 private homes excluding ECs
launched in December were in the OCR,
compared to the earlier monthly average of1,355 units and 66% from January to
November. A total of 21,487 private homes
(excluding ECs) were launched in 2012, a
21.3% increase from 2011. 4,521 ECs were
also sold last year, a 56.8% increase from
2011.
Looking ahead, a price fall of up to 5% and 5-
7% is expected in the mid and mass-market
segments,
SINGAPORE PROPERTY WEEKLY Issue 87
-
7/29/2019 Singapore Property Weekly Issue 87.pdf
19/24
Page | 18Back to Contents
and the high-end market respectively while a
10-46% fall in sales volume to 12,000 to
20,000 units is predicted.
(Source: Business Times)
Land bids expected to fall
The latest round of cooling measures
includes an increase in ABSD, lower LTV
limits and higher cash downpayment; these
will result in a reduced demand for residential
property. In addition, by including private
enclosed spaces (PES) and private roof
terraces (PRT) in the 10% bonus GFA of
which development charges are payable, the
saleable strata area will fall by 4-5%, leading
to a corresponding 5% fall in land prices. This
change in guideline will affect low-rise sites
the most. Developers demand for large sites
is also likely to fall as a result of the increase
in the ABSD rate residential land purchases
from 10% to 15%. In particular, there is likely
to be a fall in overall sales of residential en
bloc sites since developers less willing to pay
more and owners may be reluctant to lower
their asking price.
(Source: Business Times)
Q Bay Residences launched at $985 psf
ppr
630-unit Q Bay Residences at the junction of
Tampines Avenue 1 and Tampines Avenue
10, the first private condominium launched in
2013, was launched at an average of $985
psf ppr, a 7% fall from the planned $1,050 psf
ppr following the introduction of the new
property cooling measures. This meant that a
527 sq ft one-bedroom unit and a 1,981 sq ft
five-bedroom unit will cost $525,000 and $1.7
million respectively after a 15% early bird
discount and a 7% stamp duty discount,
SINGAPORE PROPERTY WEEKLY Issue 87
-
7/29/2019 Singapore Property Weekly Issue 87.pdf
20/24
Page | 19Back to Contents
which can either be taken upfront or as a
rebate. Despite the cooling measures,
demand for Q Bay Residences is expected to
remain strong given the fact that it is the first
condominium to be launched in Tampines inthe last two years, and its wide range of unit
configurations (11 different types; from one
bedroom, two bedroom, Trio to four bedroom
verandah units).
Looking ahead, transaction volumes are
expected to fall by 20-25% this year
especially with the increase in ABSD rates,
accompanied by a 5-7% fall in prices for
mass and mid-tier condos and a 10-15% fall
in prices of higher-end condos. PRs are also
expected to demand more private property
rather than HDB flats.
(Source: Business Times)
Slow showflat sales at Q Bay Residences
Only 214 of the 400 people at Q Bay
Residences preview launched bought a unit
at the private condominium project, much
smaller than the expected 300 had the latest
round of cooling measures not be introduced.
Nevertheless, there are potential buyers who
may return after sorting out financing issues
brought on by the new loan restrictions. While
demand for one to two-bedroom units
expected to fall, given that such units are
usually bought for investment, they made up
46% of the 214 units sold. The strong
demand may be a result of the lack of new
condominium in the Tampines area for a few
years, and the pool of buyers who are likely
upgraders less affected by the latest round of
cooling measures.
(Source: Business Times)
SINGAPORE PROPERTY WEEKLY Issue 87
-
7/29/2019 Singapore Property Weekly Issue 87.pdf
21/24
Page | 20Back to Contents
200,000 new homes by 2016
National Development Minister Khaw Boon
Wan had announced in his blog an upcoming
supply 200,000 new housing units by 2016,
including 80,000 private properties, 10,000
ECs and 110,000 HDB flats. He noted that
there is imbalance in the market as a result of
pent-up demand from undersupply and
increased investment demand in recent
years. He also added that the latest round of
cooling measures is necessary and designed
to protect first-time buyers.
(Source: Business Times)
Commercial
Cooling measures may boost commercialproperty market
Since most of the cooling measures recently
introduced are targeted at the residential
sector of the property market, with another, a
SSD in the industrial property market, the
commercial property market may see more
investments as they are diverted from the
former two sectors. In particular, demand forstrata-titled office and retail units will likely
increase. Given the limited supply of such
property, prices are expected to increase. The
government, however, is not likely to
introduce new measures in this sector unless
the rate of price increase is too high or thestrata units being subdivided are getting too
small for end users.
(Source: Business Times)
4 freehold North Bridge Road shophouses
up for sale
The four shophouses at 762, 764, 766 and
768 North Bridge Road have been launched
for sale by public auction with existing
SINGAPORE PROPERTY WEEKLY Issue 87
-
7/29/2019 Singapore Property Weekly Issue 87.pdf
22/24
Page | 21Back to Contents
tenancies at an indicative asking price of
$15.5 million. They sit on a 5,765 sq ft site
and have a total GFA of around 9,600 sq ft.
The site is located near Bugis Junction, Bugis
Plus, Golden Landmark, Sultan Plaza andKey Point. The auction will be held on Jan 23.
(Source: Business Times)
21% strata interest in prime freehold
Orchard Towers up for sale at $190 million
Sinarmas Land Ltds subsidiary Golden Bay
Realty is selling its 21% stake at around $190
million in Orchard Towers by tender. The
space being sold comprises of three
components the 7,449 sq ft strata retail space
from 21 units, the 70,536 sq ft strata area in
37 office units in the front tower and 50,084
sq ft of office space in the rear tower along
Claymore Road. Potential buyers can
purchase each of the three components
separately or as a whole. If sold separately,
the retail space and the office space have
asking prices of $3,000 psf and under $2,000
psf respectively. Orchard Towers which also
has residential spaces has 595,066 sq ft ofstrata area in 25 floors and 361 carpark lots.
The tender closes on Feb 27 at 3pm.
(Source: Business Times)
SINGAPORE PROPERTY WEEKLY Issue 87
-
7/29/2019 Singapore Property Weekly Issue 87.pdf
23/24
Page | 22Back to Contents
Non-Landed Residential Resale Property Transactions for the Week of Jan 2 Jan 8
Postal
DistrictProject Name
Area
(sqft)
Transacted
Price ($)
Price
($ psf)Tenure
2 THE BEACON 1,109 1,610,000 1,452 993 YONG SIAK VIEW 990 1,200,000 1,212 FH
5 VARSITY PARK CONDOMINIUM 1,496 1,800,000 1,203 99
5 LANDRIDGE CONDOMINIUM 1,830 2,088,000 1,141 FH
5 WEST BAY CONDOMINIUM 893 895,000 1,002 99
5 VISTA PARK 1,281 1,130,000 882 99
7 BURLINGTON SQUARE 732 1,000,000 1,366 99
9 THE ORCHARD RESIDENCES 1,808 6,180,000 3,417 99
9 ST THOMAS SUITES 1,819 4,300,000 2,364 FH
9 THE PATERSON 1,206 2,450,000 2,032 FH9 THE PIER AT ROBERTSON 732 1,425,000 1,947 FH
9 ESTILO 527 918,000 1,740 FH
9 NEWTON EDGE 915 1,580,000 1,727 FH
9 SAM KIANG MANSIONS 1,206 2,020,000 1,676 FH
10 THE LOFT 1,109 2,300,000 2,075 99
10 GALLOP GABLES 2,174 3,804,500 1,750 FH
10 DLV. 1,410 2,300,000 1,631 FH
10 OLINA LODGE 1,539 1,825,000 1,186 FH
11 PARK INFINIA AT WEE NAM 1,464 2,828,000 1,932 FH11 NOVENA COURT 775 1,240,000 1,600 FH
11 CHANCERY COURT 926 1,340,000 1,448 99
12 TREVISTA 1,281 1,700,000 1,327 99
12 THE ARTE 1,625 2,100,000 1,292 FH
12 ONE ST MICHAEL'S 1,249 1,575,000 1,261 FH
Postal
DistrictProject Name
Area
(sqft)
Transacted
Price ($)
Price
($ psf)Tenure
12 OLEANDER TOWERS 893 1,080,000 1,209 9912 THE CALLISTA 883 990,000 1,122 999
12 THE ABERDEEN 1,302 1,380,000 1,060 FH
12 THE BELLEFORTE 1,991 2,000,000 1,004 FH
15 THE SEA VIEW 1,647 2,860,000 1,737 FH
15 THE SEAFRONT ON MEYER 1,615 2,710,000 1,678 FH
15 ESPIRA SUITES 495 755,000 1,525 FH
15 HERITAGE EAST 495 665,000 1,343 FH
15 HAWAII TOWER 2,239 2,980,000 1,331 FH
15 LA MEYER 1,582 2,100,000 1,327 FH15 PALM OASIS 1,001 1,150,000 1,149 FH
15 PRESTIGE RESIDENCE 990 1,098,000 1,109 FH
15 THE MINT RESIDENCES 1,130 1,138,000 1,007 FH
15 LAGOON VIEW 1,647 1,270,000 771 99
16 COSTA DEL SOL 1,313 1,730,000 1,317 99
16 CASA MERAH 1,281 1,530,000 1,194 99
16 RIVIERA RESIDENCES 2,476 2,520,000 1,018 FH
16 AQUARIUS BY THE PARK 1,227 1,218,000 993 99
16 THE DAFFODIL 1,001 980,000 979 FH16 TANAMERA CREST 1,173 1,060,000 903 99
17 FERRARIA PARK CONDOMINIUM 1,195 1,183,050 990 FH
17 DAHLIA PARK CONDOMINIUM 1,292 1,180,000 914 FH
18 OASIS @ ELIAS 1,216 1,150,000 945 99
18 RIS GRANDEUR 1,109 1,045,000 943 FH
SINGAPORE PROPERTY WEEKLY Issue 87
-
7/29/2019 Singapore Property Weekly Issue 87.pdf
24/24
Page | 23Back to Contents
NOTE: This data only covers non-landed residential resale propertytransactions with caveats lodged with the Singapore LandAuthority. Typically, caveats are lodged at least 2-3 weeks after apurchaser signs an OTP, hence the lagged nature of the data.
Postal
DistrictProject Name
Area
(sqft)
Transacted
Price ($)
Price
($ psf)Tenure
18 CHANGI RISE CONDOMINIUM 1,130 996,888 882 99
18 TAMPINES COURT 1,690 1,145,000 678 101
19 THE QUARTZ 1,066 1,000,000 938 99
19 COMPASS HEIGHTS 1,324 1,180,000 891 99
19 COMPASS HEIGHTS 2,390 1,700,000 711 9921 THE STERLING 1,453 2,155,000 1,483 FH
21 MAPLEWOODS 1,496 2,160,000 1,444 FH
21 GOODLUCK GARDEN 1,916 2,105,400 1,099 FH
21 SELANTING GREEN 1,302 1,250,000 960 FH
21 HIGHGATE 1,485 1,400,000 942 FH
22 THE MAYFAIR 893 930,000 1,041 99
23 MONTROSA 1,163 1,255,000 1,080 999
23 HILLINGTON GREEN 1,776 1,776,000 1,000 999
23 CHANTILLY RISE 947 900,000 950 FH23 THE MADEIRA 1,302 1,218,000 935 99
23 PARKVIEW APARTMENTS 936 795,000 849 99
23 MAYSPRINGS 1,550 1,230,000 794 99
23 THE LINEAR 1,916 1,450,000 757 999
23 GUILIN VIEW 1,572 1,188,000 756 99
26 SEASONS PARK 1,066 938,000 880 99
27 EUPHONY GARDENS 1,023 788,000 771 99
28 SERENITY PARK 1,722 1,750,000 1,016 FH
http://propertymarketinsights.com/