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More than one million people took to the streets to demonstrate against a controversial extradition law proposal in Hong Kong on Jun 9, 2019. (Photo: AFP/Dale De La Rey)
On 9 June 2019, Hong Kong woke up to a mass demonstration of gigantic proportion as a reported number of more than one million people took to the streets of Hong Kong to strongly protest against the government’s proposal to change extradition laws to allow a controversial extradition bill that would enable China to extradite fugitives from the city to be tried in mainland China.
In what could be the largest demonstration since the city's handover to China in 1997, organizers claim more than one million protesters took to the streets of Hong Kong in an attempt to stop the erosion of the nation's democratic system of free speech.
Described as one of the largest and most unified protests ever witnessed in the world in more than a decade, the massive march prompted rallies in solidarity in at least 29 cities around the world.
In what could be the largest demonstration since the city's handover to China in 1997, organizers claim more than one million protesters took to the streets of Hong Kong in an attempt to stop the erosion of the nation's democratic system of free speech.
Described as one of the largest and most unified protests ever witnessed in the world in more than a decade, the massive march prompted rallies in solidarity in at least 29 cities around the world.
The government has defended its bill and vow to move ahead tabling the contentious measure for a second reading in the Legislative Council on June 12 despite the unprecedented demonstration.
The protesters included young families pushing babies in prams as well as wheelchair bound elderly all braving a hot day under 32 degree Celsius heat, with many being their first protest march. It was the time such a diverse crowd is witnessed in a demonstration in Hong Kong as opposition to the bill has united a broad range of the community, from usually pro-establishment business people and lawyers to students, pro-democracy figures and religious groups. Insurance agents, executives and small entrepreneurs joined bus drivers and mechanics in the streets on Sunday.
The demonstration capped weeks of growing outrage in the business, diplomatic and legal communities, which fear corrosion of Hong Kong's legal autonomy and the difficulty of ensuring basic judicial protections in mainland China.
The protesters included young families pushing babies in prams as well as wheelchair bound elderly all braving a hot day under 32 degree Celsius heat, with many being their first protest march. It was the time such a diverse crowd is witnessed in a demonstration in Hong Kong as opposition to the bill has united a broad range of the community, from usually pro-establishment business people and lawyers to students, pro-democracy figures and religious groups. Insurance agents, executives and small entrepreneurs joined bus drivers and mechanics in the streets on Sunday.
The demonstration capped weeks of growing outrage in the business, diplomatic and legal communities, which fear corrosion of Hong Kong's legal autonomy and the difficulty of ensuring basic judicial protections in mainland China.
Freehold luxury condominium at Everton Road in Spottiswoode area near District 2 Tanjong Pagar CBD
Investors who are looking to invest in Hong Kong are now trying to find a safe investment haven to either other parts of Asia or Europe - property owners in Hong Kong are also looking to divest their property investment risks overseas in other parts of Asia where the political climate is more stable with clear direction for growth.
Property in Singapore is also expected to attract overseas buyers who fear the uncertainty of Hong Kong's political and financial future. This unexpected spike of property-buying foreigners could be a "wildcard" who could boost the total number of property transactions in the near future.
"We may see an increase in demand for freehold properties in District 01, 02, 09, 10 and 11 especially for new launch freehold apartments in the CCR like Sky Everton (District 02) or even 99 years leasehold One Pearl Bank due to its rare location being on top of a beautiful hill as Hong Kong buyers value hilltop homes," said Kiwi Lim (Huttons Asia), he also noted that overseas buyers may also tend to prefer the progressive payment system available for new launches.
Property in Singapore is also expected to attract overseas buyers who fear the uncertainty of Hong Kong's political and financial future. This unexpected spike of property-buying foreigners could be a "wildcard" who could boost the total number of property transactions in the near future.
"We may see an increase in demand for freehold properties in District 01, 02, 09, 10 and 11 especially for new launch freehold apartments in the CCR like Sky Everton (District 02) or even 99 years leasehold One Pearl Bank due to its rare location being on top of a beautiful hill as Hong Kong buyers value hilltop homes," said Kiwi Lim (Huttons Asia), he also noted that overseas buyers may also tend to prefer the progressive payment system available for new launches.
One Pearl Bank is Capitaland's new iconic condo development - a 774-unit twin towers on top of Pearl's Hill
According to the Master Plan 2030, an additional 3,000ha of land is available and is planned for residential use by 2030, therefore the Ministry of National Development (MND) has put in place a land-use plan which will cater for the longer-term growth in Singapore's population.
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The URA's recent 2019 draft masterplan shows the government's development focus is now aimed towards the city centre and The Greater Southern Waterfront, which extends from Pasir Panjang to Marina East, which will be transformed into a new major gateway and location for urban living along Singapore’s southern coast. Development for The Greater Southern Waterfront will take place in phases, starting with the former Pasir Panjang Power District, Keppel Club and Mount Faber in the next 5 to 10 years making the Greater Southern Waterfront a unique Gateway to Future Live, Work & Play.
The Draft Masterplan 2019 reflects Singapore planners’ people-centric approach to achieving sustainable growth through continuous innovation to enhance the attractiveness of the city.
The Draft Masterplan 2019 reflects Singapore planners’ people-centric approach to achieving sustainable growth through continuous innovation to enhance the attractiveness of the city.
Plot ratios for numerous CBD land parcels saw significant increases. The base plot ratios for land parcels in the heart of Raffles Place, in the vicinity of Raffles Place MRT station, which rose from 12.6 to 15.0. The withdrawal of office stock from the potential wave of redevelopments and AEIs will lead to lower vacancy rates and lend further support to rents.
Bernam Street URA Government Land Sale Site - URA, Straits Times Graphics
Recently, URA announced the sale of two 99 years leasehold Government Land Sale plots of land at Bernam Street and Tan Quee Lan Street - both in the city and located near a rare upcoming freehold residential condo project called Sky Everton. Property analysts expect these two plots of 99 year leasehold Government Land Sale sites to be sold at higher than the enbloc price per square foot for the nearby freehold Sky Everton and 99 year leasehold One Pearl Bank.
Sky Everton may therefore be a rare opportunity for buyers to enjoy a new launch in prime District 02 in the city where the price of freehold is lower than future 99 year leasehold. Huttons Asia's real estate professional, Kiwi Lim studied the recent URA Masterplan said "The government has indicated in its 2019 masterplan that it is turning its focus on rejuvenating prime city centre area to make it a more vibrant place to live, work and play. Therefore, we can expect city centre property prices to gradually appreciate. We can also expect future city area properties to be 99 year leasehold making freehold a rare commodity."
Sky Everton may therefore be a rare opportunity for buyers to enjoy a new launch in prime District 02 in the city where the price of freehold is lower than future 99 year leasehold. Huttons Asia's real estate professional, Kiwi Lim studied the recent URA Masterplan said "The government has indicated in its 2019 masterplan that it is turning its focus on rejuvenating prime city centre area to make it a more vibrant place to live, work and play. Therefore, we can expect city centre property prices to gradually appreciate. We can also expect future city area properties to be 99 year leasehold making freehold a rare commodity."
Tan Quee Lan Street URA Government Land Sale Site - URA graphics
Sky Everton condo - be the envy of everyone to own the only condo with an Everton Road address in Singapore
Sky Everton, is a rare upcoming new launch freehold condo situated in District 2, was formerly Asia Gardens along Everton Road bought over by Sustained Land in an enbloc collective sale for S$343 million. With the inclusion of the 10% bonus balcony area, this translates to S$1,565 psf ppr.
Designed by award-winning ADDP Architects LLP, Sky Everton is poised to impress with its modernistic curtain-wall facade, generous facilities across Levels 1, 5, 14 & 24, and units with functional layouts glazed in stylish finishes.
Huttons Asia's real estate consultant Kiwi Lim believes this project will sell very well at its upcoming launch: "Sky Everton is favourably enveloped by low-rise shophouses to its North and Spottiswoode Park to its South, therefore residents can enjoy breathtaking panoramic views across the island, the city and the sea. Within a short few minutes walk, residents can easily walk to Cantonment MRT Station (U/C) and Outram Park MRT Interchange, with an impressive total of 4 MRT lines (Circle Line, Thomson-East Coast Line, North East Line and East West Line). Which new condo can compare?"
Within a short seven minutes walk, residents of Sky Everton can reach Tanjong Pagar, Singapore General Hospital, and the upcoming Greater Southern Waterfront. Sky Everton is also very near to Duxton Hill, Bukit Pasoh, and Keong Saik, rich in heritage charm and food culture while hidden in tranquil Spottiswoode estate.
Designed by award-winning ADDP Architects LLP, Sky Everton is poised to impress with its modernistic curtain-wall facade, generous facilities across Levels 1, 5, 14 & 24, and units with functional layouts glazed in stylish finishes.
Huttons Asia's real estate consultant Kiwi Lim believes this project will sell very well at its upcoming launch: "Sky Everton is favourably enveloped by low-rise shophouses to its North and Spottiswoode Park to its South, therefore residents can enjoy breathtaking panoramic views across the island, the city and the sea. Within a short few minutes walk, residents can easily walk to Cantonment MRT Station (U/C) and Outram Park MRT Interchange, with an impressive total of 4 MRT lines (Circle Line, Thomson-East Coast Line, North East Line and East West Line). Which new condo can compare?"
Within a short seven minutes walk, residents of Sky Everton can reach Tanjong Pagar, Singapore General Hospital, and the upcoming Greater Southern Waterfront. Sky Everton is also very near to Duxton Hill, Bukit Pasoh, and Keong Saik, rich in heritage charm and food culture while hidden in tranquil Spottiswoode estate.
One Pearl Bank is Capitaland's new iconic condo - a 774-unit twin towers replacing the famous Pearl Bank apartments
CapitaLand unveiled its design for One Pearl Bank, a development that will take the place of Pearl Bank Apartments, which it bought for S$728 million. One Pearl Bank comprises two curved 39-storey towers linked at the roof by sky bridges and will also feature a vertical sky allotment garden for urban farming. The upcoming One Pearl Bank will look good from any angle. At night, its crown will light up like a circular halo and the structure will truly transform into a beacon as it begins to glow and take on an ethereal quality.
Huttons Asia real estate advisor Kiwi Lim says "This is the first time that a series of sky allotments has been arrayed vertically in a high-rise residential tower". Capitaland said these sky allotments will support urban farming and promote community bonding. Additionally, around 500 trees and more than 135,000 shrubs, plants and flowers will be planted throughout One Pearl Bank. A landscape path linking it to the adjacent and under utilised Pearl’s Hill City Park will also be available.
Huttons Asia real estate advisor Kiwi Lim says "This is the first time that a series of sky allotments has been arrayed vertically in a high-rise residential tower". Capitaland said these sky allotments will support urban farming and promote community bonding. Additionally, around 500 trees and more than 135,000 shrubs, plants and flowers will be planted throughout One Pearl Bank. A landscape path linking it to the adjacent and under utilised Pearl’s Hill City Park will also be available.
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