singapore property weekly issue 89

7/29/2019 Singapore Property Weekly Issue 89

1/16


2/16

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 6.9m Population by 2030 - Good

or Bad for Property?

p6 Property Buying Tip #3: Credit Record

p8 Singapore Property News This Week

p13 Resale Property Transactions

(January 16 January 22)

Welcome to the 89th edition of the

Singapore Property Weekly.

Im glad to announce that the 2012Q4

URA data has been updated for

PropertyMarketInsights.com members.

>> Click here to find out more


3/16

SINGAPORE PROPERTY WEEKLY Issue 89

Page | 2Back to Contents

6.9m Population by 2030 - Good or Bad for Property?

By Mr. Propwise

There's been so much talk (and hype) about

the Government's recently released

Population White Paper and Land Use Plan

to support up to a 6.9 million population in

2030, but I think at the end of the day most

people are still confused about one key

question - is the long term growth plan for

Singapore's population and the related land

use plans good or bad for property prices?

A quick recap of the population growth

plan

Singapore had 3.29 million citizens and 0.53

million Permanent Residents (PRs) as at

June 2012,
http://population.sg/http://www.mnd.gov.sg/landuseplan/http://www.mnd.gov.sg/landuseplan/http://www.mnd.gov.sg/landuseplan/http://www.mnd.gov.sg/landuseplan/http://www.mnd.gov.sg/landuseplan/http://www.mnd.gov.sg/landuseplan/http://population.sg/http://population.sg/http://population.sg/http://population.sg/http://population.sg/


4/16



which together make up the resident

population. We also had a non-resident

population (including domestic workers,

foreign talent, students etc) of 1.49 million,

giving a total population of 5.31 million.

Singapores total population in 2020 is

projected to be between 5.8 and 6 million,

while by 2030, the total population could

range between 6.5 and 6.9 million.

Singapore needs immigrants to grow,but...

Due to our extremely low birth rates (as

measured by the Total Fertility Rate),

Singaporeans will age rapidly and the number

of citizens will decline from 2025 if there is no

immigration.

To prevent this from happening, Singapore

needs to bring in 15,000 to 25,000 new

citizens each year. And in order to do that, the

Government will have to grant around 30,000

PRs each year, maintaining the PR

population to between 0.5 and 0.6 million as a

potential pool that will to convert to new

citizens.

But due mainly to political pressures, the

Government has reduced the number of PRs

granted, from a high of 79,000 new PRs in

2008 to about 30,000 each year currently.

Going forward, this pace will be maintained to

keep the total PR population stable. In other

words, immigration will not be a big driver of

the property market anymore.

Population growth to slow over the next

two decades

The bottomline is that total population growth

will slow from the annualized rate of 2.5%

from 2000 to 2010, to 1.3% to 1.6% from

2010 to 2020,


5/16



and further slow to 1.1% to 1.4% from 2020

to 2030.

This deceleration of the growth rate is clearly

not supportive of the future demand growth

for residential property. But to figure out the

impact on prices, we'll have to take a look at

the other side of the equation - the supply of

property.

Housing supply to be ramped up

The huge number of 700,000 new homes that

could be built by 2030 has been thrown

around a lot - what does it actually mean?

If we look at the current total stock of housing

in Singapore, this comprises around 1.2

million units, of which 0.9 million are HDBflats. An additional 700,000 units is a 58%

increase in the total stock, whereas the

population increase from 5.31 million to 6.9

million (the upper end of the 2030 range) is a

30% increase. In other words, additional new

supply is potentially going to be growing twice

as fast as population growth - not a good sign

for the market.

Of these 700,000 new homes, 90,000 private

units (including Executive Condominiums)

and 110,000 public units will be completed by

2016. This means that in the next three years,

the total stock of housing will increase by

17%, while the population will likely grow by

5% or less over the same time period. Suffice

to say, this "flood" of new supply will pose a

threat to property prices.

Also due to political pressure, the

Government will ramp up the Build-to-Order

(BTO) supply of public housing from 8,800units in 2009 to 16,000 units in 2010, 25,000

units in 2011 and 27,000 units in 2012. These

are not small numbers - the total number of

units launched in 2011 and 2012 is larger


6/16


7/16



Property Buying Tip #3: Credit Record

(Reference: www.creditbureau.com.sg)

Maintaining a good personal credit record is

important especially when you are applying

for a housing loan. This includes timely

payment of your mortgage loan, credit card

debt, cash overdraft, car loan and so on.

Please remember to do the repayment on

time or at least cover the minimum payment

fees on or before the due date.

If you do not repay your loan on timeregularly, the poor credit rating will be

reflected in the CBS database (Credit

Bureau Singapore Pte Ltd, Singapores

consumer credit rating agency).

Your housing loan application may not be

granted if there is a concern on your credit

worthiness, resulting in you not being able to

buy the property you wanted.

By Eileen Tan and Ui Wei Teck, property

investors and authors of Enjoying Mid-Life

Without Crisis. Get dozens more tips in their

new book.

SINGAPORE PROPERTY WEEKLY I 89
http://www.creditbureau.com.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://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.creditbureau.com.sg/http://www.creditbureau.com.sg/http://www.creditbureau.com.sg/http://www.creditbureau.com.sg/http://www.creditbureau.com.sg/http://www.creditbureau.com.sg/http://www.creditbureau.com.sg/


8/16



SINGAPORE PROPERTY WEEKLY I 89
http://buybyeproperty.com/wp/home


9/16


Singapore Property This Week


Residential

NUS SPRI: Prices of completed condos

slipped 0.3% in December

In December, the NUSs Singapore

Residential Price Index (SRPI) series

reflected a 1.3% fall in prices in the Central

Region sub-index (excluding small units) in

December, a 0.5% increase in the Non-

Central Region, and no change in prices of

small units (up to 506 sq ft) islandwide. The

overall index fell by 0.3% in December,compared to a 1.7% increase in November.

In the whole of 2012, the sub-index for the

Non-Central Region saw the highest increase

of 8.8%, followed by the small unit sub-index,

which saw a 5.7% increase and the Central

Region sub-index, which fell by 1.2%. The

overall SRPI increased by 4%.

Looking ahead, the small unit sub-index may

increase in January 2013 given the loweredLTV limit for individuals taking their second or

subsequent housing loans which would result

in a smaller budget. Prices are generally

expected to fall as a result of an increase in

supply (more than 16,000 units), though not

by much given the low interest rates.

(Source: Business Times)



10/16



700,000 more homes needed by 2030 for

growing population

To support the population of 6.9 million

expected by 2030, 700,000 more homes are

needed by then as a buffer. Of these 700,000,

about 200,000 are already under

construction. The rest will mostly be in new

towns such as Tengah, Tampines North and

Bidadari. The figure translates into about

39,000 units a year, which is similar to the

current rate. Building a buffer stock also helps

to control prices. However, there is risk of

under-building or over-building. Overbuilding

can lead to extra costs to taxpayers as the

homes are left unoccupied when the building

value depreciates with the age of the building

and the shorter lease. Another concern would

be having smaller home sizes and lower

quality of life.


99-year Lakeside condo site draws 12 bids

The site located 450 m away from the

Lakeside MRT station drew a total of 12 bids,

with the top bid of $651.33 psf ppr from MCL

Land. It is bounded by Jurong West Street 41

and Boon Lay Way and offers unobstructed

views of Jurong Lake. The expected

breakeven price and average selling price are

$1,050 psf and $1,300 psf respectively. The

high bids and the high number of bids reflect

an optimism in the residential market despite

the latest cooling measures.


3,346 BTO flats launched in both mature

and non-mature estates

HDB has launched 3,346 BTO flats for

balloting. In the non-mature estates, there will

be Keat Hong Colours at Choa Chu Kang

Avenue 7 with 968 three to five-room flats



11/16



($170,000 - $388,000). In the mature estates,

there will be Kebun Baru Court at Ang Mo Kio

Street 21 with 283 four- and five-room flats

($380,000 - $575,000), Whampoa Dew at

Lorong Limau with 156 studio apartments($105,000 0 $154,000) and 249 four-room

flats ($385,000 - $483,000) and Tampines

GreenForest at Tampines Avenue 8 with 424

three-room and four-room flats ($191,000 -

$356,000). All three projects in the mature

estates and the Yishun project which offers aview of the Singapore Orchid Country Club

golf course and Seletar Reservoir are

expected to be oversubscribed given their

locations. The Parenthood Priority Scheme

which gives priority (30% of the flats to be

allocated) to first-time applicants who are

married with children is applicable for this

launch. The Multi-Generational Priority

Scheme will also apply for the Whampoa Dew

project. In addition, elderly flat owners living

in the area will have doubled balloting

chances for studio apartments at Whampoa

Dew. Applications will close on Feb 4.


Questioning the plan for 700,000 new

homes by 2030

As part of the plan to build 700,000 new

housing units by 2030, more homes will be

built in the central region, such as in the

former Bukit Turf Club, Kallang Riverside,

Bukit Brown, and the waterfront area around

Keppel, in addition to three new towns,

Bidadari (11,000 public and private homes),

Tampines North (21,000 homes), and Tengah

(55,000 homes). While some felt that the

figure may not be sufficient, citing the need to

tear down old flats and rebuilt leading to a

need for one million new homes, others felt

that it was too large since it would mean a



12/16



compounded average 2.7% growth rate in

housing stock compared to a 1.7% per

annum population growth (based on the

targeted 6.9 million). The ratio of private to

total housing stock is also expected toincrease from 23% to about 28.5% by 2030

though it may not result in lower prices.


Commercial

Alexandra Central units on the resale

market

At least 19 of the 114 retail units at Alexandra

Central sold recently are on the resale

market, with prices ranging from $3,720.93

psf for a 24 sq m (258 sq ft) unit to $8,600 psffor a 10 sq m (107.6 sq ft) unit. A 15 sq m

(161.5 sq ft) unit on the third floor and an 18

sq m (193.8 sq ft) unit were being sold at

$850,000 and $833,000 respectively. The

remaining two units left unsold are a 102 sq

m (1,097 sq ft) F&B unit on the second floor

and a 667 sq m unit on the third floor.


Freehold commercial property No 160

Changi up for sale

The four-storey building sitting on 18,000 sq ft

plot at the corner of Changi Road and Lorong

105 Changi has been put up for sale with

vacant possession. The building also consists

of 33 carpark lots on two basement levels.

The site with a 3.0 permissible GPR is

expected to fetch around $62 million and is

located about 300 metres away from EunosMRT station. It can potentially be redeveloped

for strata sales for retail or office use or into a

hotel subject to approval from the authorities.



13/16



No development charge, ABSD or SSD is

applicable for the site, which tender closes on

March 8 at 4pm.


Units at the Mediplex@SBFCenter to be

launched in February

The 48 units in Mediplex@SBFCenter on

Robinson Road near Tanjong Pagar MRT

station will occupy the third to fifth levels of

the SBF Center and range from 667 sq ft to

1,292 sq ft in size. They are said to be

marketed at $3,800-4,000 psf under a 99-

year lease to specialties such as dentistry,

diet & nutrition, licensed traditional Chinese

medicine, physiotherapy and others. These

units are expected to be popular given the

limited supply of such strata-titled units

available for sale as well as the expected

demand for medical and healthcare services

in the CBD area.


Rents in suburban malls set to fall

An increase in investor demand for strata

retail space is expected as investors are

diverted from the industrial and residential

sector following the latest cooling measures,

leading to a 5-10% increase in price.

However, only 46,630 sq ft or 2% of the 1.9

million sq ft of retail space to be completed

this year is strata-titled and 80% of this 1.9

million sq ft of space is expected to be

located in the suburbs, the bulk of which

coming from the Jurong Gateway area.

Jem will offer an estimated 573,000 sq ft ofGFA in retail space while Westgate will offer

another 426,000 sq ft, making up the bulk of

the completed retail space in 2013.



14/16



Non-Landed Residential Resale Property Transactions for the Week of Jan 16 Jan 22

Postal

DistrictProject Name

Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

9 PARC EMILY 980 1,788,888 1,826 FH

9 ESTILO 614 1,080,000 1,760 FH

9 ASPEN HEIGHTS 1,324 2,094,000 1,582 999

9 WATERFORD RESIDENCE 1,044 1,630,000 1,561 999

9 UE SQUARE 1,292 1,988,888 1,540 929

9 OLEANAS RESIDENCE 1,281 1,860,000 1,452 FH

10 ARDMORE PARK 2,885 8,800,000 3,051 FH

10 LATITUDE 1,927 4,275,720 2,219 FH

10 THE LOFT 710 1,420,000 1,999 99

10 MILL POINT 538 1,035,000 1,923 999

10 GALLOP GREEN 5,102 9,744,820 1,910 FH

10 GALLOP GREEN 4,338 8,285,580 1,910 FH

10 BOTANIC GARDENS VIEW 1,410 2,550,000 1,808 FH

10 BELMOND GREEN 1,302 2,282,000 1,752 FH

10 WATERFALL GARDENS 1,830 3,080,000 1,683 FH

10 ASTRID MEADOWS 2,045 3,408,000 1,666 FH

10 LEEDON 2 764 1,260,000 1,649 FH

10 THE LEGACY 764 1,250,000 1,636 FH

10 WING ON LIFE GARDEN 3,305 5,350,000 1,619 FH

10 VIZ AT HOLLAND 861 1,350,000 1,568 FH

10 CHATEAU LE FAME 840 1,288,000 1,534 FH

10 JERVOIS LODGE 1,238 1,780,000 1,438 FH

10 SPANISH VILLAGE 2,045 2,925,000 1,430 FH

10 MARTINA MANSIONS 1,259 1,800,000 1,429 FH

10 MUTIARA VIEW 1,216 1,650,000 1,357 FH

Postal


Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

1 THE SAIL @ MARINA BAY 6,297 12,680,000 2,014 99

2 ICON 904 1,623,000 1,795 99

3 TWIN REGENCY 980 1,700,000 1,736 FH

3 RIVER PLACE 1,044 1,570,000 1,504 99

3 TANGLIN VIEW 1,152 1,600,000 1,389 99

3 QUEENS 1,184 1,620,000 1,368 99

3 THE ANCHORAGE 1,195 1,430,000 1,197 FH

3 QUEENS 2,282 2 ,258,000 989 99

4 MARINA COLLECTION 2,390 7,050,500 2,950 99

4 REFLECTIONS AT KEPPEL BAY 2,648 4,413,277 1,667 99

4 HARBOURLIGHTS 893 1,380,000 1,545 FH

5 THE PEAK@BALMEG 990 1,500,000 1,515 FH

5 ONE-NORTH RESIDENCES 1,432 2,125,000 1,484 99

5 THE PARC CONDOMINIUM 1,292 1,725,000 1,335 FH

5 CARABELLE 883 1,170,000 1,326 956

5 PARK WEST 1,249 1 ,230,000 985 99

5 PARK WEST 872 810,000 929 99

8 KERRISDALE 1,259 1,500,000 1,191 99

9 HELIOS RESIDENCES 1,668 6,316,500 3,786 FH

9 THE METZ 581 1,540,000 2,649 FH

9 THE COSMOPOLITAN 1,324 2,900,000 2,190 FH

9 RIVERGATE 1,776 3,850,000 2,168 FH

9 THE TRILLIUM 1,798 3,708,000 2,063 FH

9 RIVERGATE 2,077 4,100,000 1,974 FH

9 PARC SOPHIA 506 970,000 1,917 FH



15/16



Postal


Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

10 MARTINA MANSIONS 2,443 3,100,000 1,269 FH

11 PARK INFINIA AT WEE NAM 560 1,200,000 2,144 FH

11 NEWTON SUITES 1,238 2,400,000 1,939 FH

11 THE ARMADALE 678 1,150,000 1,696 FH

11 MULBERRY TREE 635 1,010,000 1,590 FH

11 D' IXORAS 980 1,510,000 1,542 FH

12 SUITES @ TOPAZ 667 968,000 1,450 FH

12 D'LOTUS 570 810,000 1,420 FH

12 THE ARTE 1,055 1,410,000 1,337 FH

12 OLEANDER TOWERS 893 1,160,000 1,298 99

12 OLEANDER TOWERS 893 1,050,000 1,175 99

12 THE ABERDEEN 1,302 1,360,000 1,044 FH

13 BLOSSOMS @ WOODLEIGH 1,195 1,600,000 1,339 FH

14 DAKOTA RESIDENCES 1,830 2,500,000 1,366 99

14 KINGSTON TERRACE 915 1,050,000 1,148 FH

14 THE SUNNY SPRING 1,012 1,018,000 1,006 FH

14 BOUGAINVILLA APARTMENTS 958 950,000 992 FH

14 ATRIUM RESIDENCES 1,259 1 ,228,000 975 FH

14 CENTRAL GROVE 1,216 1 ,170,188 962 99

14 THE HELICONIA 1,335 1,280,000 959 FH

14 CENTRAL GROVE 1,216 1 ,150,000 945 99

14 SIMSVILLE 1,528 1,438,000 941 99

14 EUNOS GREEN 1,970 1 ,800,000 914 FH14 CRYSTAL LODGE 1,141 895,000 784 FH

14 EUNOSVILLE 1,776 1,370,000 771 102

15 AALTO 1,442 2,430,000 1,685 FH

15 PEBBLE BAY 1,894 2,900,000 1,531 99

15 THE COTZ 452 670,000 1,482 FH

Postal


Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

15 EAST VIEW 1,098 1,500,000 1,366 FH

15 PARKSHORE 1,335 1,750,000 1,311 FH

15 MARGATE POINT 1,281 1,650,000 1,288 FH

15 OCEAN PARK 2,110 2,550,000 1,209 FH

15 PRESTIGE LOFT 915 1,080,000 1,180 FH

15 SANCTUARY GREEN 1,281 1,470,000 1,148 99

15 DUNMAN VIEW 1,335 1,443,000 1,081 99

15 MANDARIN GARDEN CONDOMINIUM 1,001 1,065,000 1,064 99

15 GLAMOUR VILLE 1,216 1,200,000 987 FH

15 LAGUNA PARK 1,615 1 ,550,000 960 99

15 THE ESPIRA 1,851 1,650,000 891 FH

15 JOO CHIAT MANSIONS 1,238 1 ,100,000 889 FH

15 NEPTUNE COURT 1,270 1 ,068,000 841 99

16 BAYSHORE PARK 1,076 1,400,000 1,301 99

16 BLEU @ EAST COAST 980 1,200,000 1,225 FH

16 CASA MERAH 1,238 1,500,000 1,212 99

16 LAGUNA GREEN 1,066 1,100,000 1,032 99

16 THE CLEARWATER 1,313 1,350,000 1,028 99

16 CASCADALE 1,550 1 ,460,000 942 FH

16 LAGUNA 88 2,368 2,080,000 878 99

17 DAHLIA PARK CONDOMINIUM 1,270 1 ,110,000 874 FH

18 OASIS @ ELIAS 980 1,030,000 1,052 99

18 CHANGI RISE CONDOMINIUM 1,023 970,000 949 9918 LIVIA 1,324 1 ,250,000 944 99

18 MODENA 1,475 1 ,345,000 912 99

18 SAVANNAH CONDOPARK 2,271 1 ,838,800 810 99

18 THE TROPICA 1,335 1 ,000,000 749 99

18 MELVILLE PARK 1,389 980,000 706 99



16/16

S G O O ssue 89


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


Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

19 THE QUARTZ 1,066 1,168,000 1,096 99

19 THE QUARTZ 1,206 1,280,000 1,062 99

19 CENTRAL VIEW 1,216 1 ,045,000 859 99

19 EVERGREEN PARK 1,367 1 ,120,000 819 99

20 BISHAN 8 980 1,150,000 1,174 99

20 THE GARDENS AT BISHAN 883 1,020,000 1,156 99

20 BRADDELL VIEW 1,453 1 ,400,000 963 99

21 THE CASCADIA 883 1,522,000 1,724 FH

21 MAPLEWOODS 850 1,315,000 1,546 FH

21 GARDENVISTA 947 1,270,000 1,341 99

21 GRAND REGENCY 818 950,000 1,161 FH

21 SIGNATURE PARK 1,421 1,510,000 1,063 FH

21 PANDAN VALLEY 1,464 1,460,000 997 FH

21 PINE GROVE 1,927 1,600,000 830 99

22 THE CENTRIS 1,292 1,570,000 1,215 9922 THE LAKESHORE 947 1,080,000 1,140 99

22 THE LAKESHORE 1,119 1,210,000 1,081 99

23 GLENDALE PARK 1,033 1,200,000 1,161 FH

23 HILLBROOKS 1,270 1,300,000 1,023 FH

25 ROSEWOOD 1,023 890,000 870 99

25 ROSEWOOD 1,173 963,500 821 99

25 WOODGROVE CONDOMINIUM 2,024 1 ,400,000 692 99

26 BULLION PARK 1,238 1,350,000 1,091 FH

26 BULLION PARK 1,238 1,320,000 1,066 FH

26 BULLION PARK 2,207 2 ,000,000 906 FH

28 NIM GARDENS 1,830 1 ,542,000 843 FH
http://propertymarketinsights.com/

singapore property weekly issue 89

Documents