Discover upcoming condo launches in Singapore

Welcome To
Published on
Picture

Homeowners of old condos may experience inter-floor water leakage issues as their floor waterproofing wears out


Living in a condominium offers numerous advantages, but the challenge of resolving inter-floor leakage can cause much distress for affected home owners. Whether you've noticed water stains on your ceiling or suspect leaks from a neighboring unit, taking proactive steps to address inter-floor leakage is crucial.

Practical Tips on Handling Inter-Floor Leakage Issues 

Identifying the Source of Leakage:
  • Conduct a thorough inspection to pinpoint the exact source of the leakage. Check for visible water stains, dampness, or mold.
  • Collaborate with neighbors to identify the source of the leakage. This may involve conducting joint inspections of the affected units.

Immediate Measures to Minimize Damage:
  • Place buckets or containers under visible leaks to collect water and prevent further damage.
  • Move furniture and valuables away from affected areas to prevent additional harm.

Notify Condo Management and Neighbors:
  • Report the issue to the condo management immediately, providing details of the leakage.
  • Inform neighbors, especially those living directly above or below you, to encourage collective efforts in resolving the problem.

Engage Professional Inspection:
  • Hire qualified professionals, such as plumbers or building inspectors, to conduct a thorough inspection. Professionals can pinpoint the source of the leakage and provide expert recommendations.
  • Identify any potential breaches in the waterproofing membrane or plumbing connections.

Cooperate with Condo Management:
  • As soon as you notice the leakage, report it promptly to the property management or condominium management. Timely reporting can prevent further damage. Work closely with the condo management to share inspection findings and coordinate necessary repairs.
  • Follow the established procedures for reporting and addressing maintenance issues.

Waterproofing Solutions:
  • Invest in professional waterproofing services to seal potential entry points for water.
  • Ensure that common areas such as roofs, balconies, and plumbing lines are adequately waterproofed.

Repair and Renovation:
  • Undertake necessary repairs promptly, addressing both the cause of the leakage and any resulting damage.
  • Coordinate with affected neighbors to synchronize repair efforts if the leakage involves multiple units.

Preventive Maintenance:
  • Regularly inspect your unit for signs of water damage and address minor issues promptly.
  • Encourage neighbors to participate in preventive maintenance initiatives to mitigate future problems.

Legal Recourse:
  • If efforts to resolve the issue amicably prove unsuccessful, consider seeking legal advice based on Singapore's Building Maintenance and Strata Management Act (BMSMA).


Building Maintenance and Strata Management Act (BMSMA)

According to Singapore's Building Maintenance and Strata Management Act (BMSMA), which is administered by the Strata Titles Board (STB), the upper floor is presumed liable for the leakage and thus the repairs unless he can prove to the contrary. Thus, the upper and lower floor flats are required to jointly carry out an investigation to determine the cause of the leak and proceed with repairs. You should also involve your condominium’s Management Corporation when necessary.

The Strata Titles Board (STB) is a statutory board in Singapore operating under the Land Titles (Strata) Act. Its primary role is to serve as a forum for resolving disputes that may arise among owners of strata-titled properties, which include condominiums and other developments with shared facilities.

Common disputes include issues related to maintenance fees, property management, and by-law violations.
The STB may encourage parties to undergo mediation to resolve disputes amicably before resorting to formal adjudication by interpreting and applying the Land Titles (Strata) Act and related laws in the context of strata-titled properties. Therefore, if mediation is unsuccessful, the STB may issue adjudication orders to settle the dispute and decisions made by the STB can be appealed to the High Court on points of law.


"Resolving inter-floor leakage issues may require patience and cooperation between many parties. By following established procedures, seeking professional advice, and maintaining a constructive dialogue, owners can work together to find solutions and prevent future problems." advised real estate consultant - Kiwi Lim, who has assisted home owners regarding water leakage issues.

Individuals seeking information or assistance related to strata-titled property disputes in Singapore can refer to the Strata Titles Board (STB) for guidance and resolution.


Patience and Cooperation

Resolving inter-floor leakage issues among owners of properties can be a complex process, but open communication, collaboration, and adherence to proper procedures can contribute to a successful resolution.

"Addressing inter-floor leakage in a condominium requires a collaborative approach involving residents, condo management, and professionals." said real estate professional Kiwi Lim from Huttons Asia, Singapore's largest private real estate agency. "By promptly identifying, reporting, and resolving leakage issues, you contribute to a healthier living environment for yourself and your neighbors. Regular maintenance and proactive measures can help prevent future incidents, ensuring a more secure and comfortable condominium living experience."

Published on
Picture

The "right of survivorship" is a legal concept associated with joint ownership of property


Usually, when a parent holds a property jointly with a child, we normally assume that the parent intends to give the property to the child upon demise, but this assumption can be disputed.

Recently, our local media - The Straits Times on 26 Nov 2023 featured a court case, where siblings fought over their deceased mother's estate worth an estimated $1 million dollars for more than a decade in Singapore's judiciary courts.

One of the main contention is over a condominium property in East Coast that was bought jointly in 1999 for $688,000 using money from both the mother and her eldest son with both of them having joint ownership of the said property.

The courts calculated the mother's share to be 58% and eldest son's share to be 42% as he paid $300,000 of his own money and the remaining $418,000 was from his mother's funds for the East Coast condo making the total contribution to be $718,000 for the property that was bought under joint ownership.   

After the mother passed on, the eldest son assumed ownership of the whole property claiming that he has the "right of survivorship" due to their joint ownership arrangement for the property.



Joint Tenancy & "Right of Survivorship"

The "right of survivorship" is a legal concept associated with joint ownership of property, particularly in the context of real estate or financial accounts. It refers to the right of a surviving joint owner to inherit the interest or ownership share of a co-owner who passes away. This right is commonly found in joint tenancy and tenancy by the entirety, which are forms of property ownership.

If one owner dies under joint ownership, the other usually inherits the whole property if no compelling documents show otherwise or if no one contest the claims to the property or the money involved in buying the property.

The "right of survivorship" is not limited to real estate properties; it is also common in joint bank accounts and certain types of financial assets. When one account holder dies, the surviving account holder(s) inherit the funds.

"It's important to note that the "right of survivorship" is a feature agreed upon when establishing joint ownership and is not automatically implied." said real estate professional Kiwi Lim from the largest private real estate agency in Singapore - Huttons Asia. 

"
If one of the joint tenants dies, their ownership interest is usually not subject to probate, which provides a mechanism for a smooth transfer of ownership in the event of a co-owner's death, ensuring that the surviving owner(s) retain full control and ownership of the property or asset. The purpose of the right of survivorship is essentially to help facilitate a seamless transfer of ownership, avoiding the delays and complexities associated with the probate process." said Kiwi Lim who have been studying real estate trends for more than a decade and believe there may be more cases in future as parents buy properties in their children's names under Trust as well as couples who decoupled to save ABSD on their 2nd property, etc.

High Court Judge Clarifies "Right of Survivorship" Misconception

In the case of the East Coast condo property that was listed under joint ownership between the mother and her eldest son - after the mother passed on, the youngest son sued the elder brother in court to claim a share of the East Coast condo property which is now valued to be worth $1.6 million.

The youngest son who was appointed as his deceased mother's legal representative is claiming for his mother's 58% share of the property value to be included among the estate under his mother's name. 

The High Court judge noticed there are many people out there who have misconceptions regarding the legal meaning of "right of survivorship" under joint tenancy ownership arrangement for real estate properties and took the opportunity to address this misconception in court. 

Justice Coomaraswany say while the surviving owner will become the sole legal owner of a property after the death of the other owner, he would not own it entirely if there was a competing claim for it. 

The Judgement

Usually, when a parent holds a property jointly with a child, we normally assume that the parent intends to give the property to the child upon demise, but this assumption can be disputed when there are other children involved who contest against it.

The judge noted that the eldest son was correct when he said that he became the sole legal owner of the property due to his mother's death. "But (he) is wrong when he says that he thereby now also owns the entire beneficial interest in the property. The mother's death had no effect on the beneficial interest she acquired in the property by reason of her unequal contribution to its purchase in 1999." according to the news report.

​Justice Coomaraswany, the High Court judge ordered the eldest son to sell the property with the proceeds to be divided based on the parties share value - which means the mother's share of 58% would go into her estate to be divided accordingly among her beneficiaries.


Published on
Picture

Why are property prices rising in Singapore despite global unrest?


As we peer into the economic landscape, clouds of uncertainty are seen hanging ominously over the horizon. The once-clear skies of economic stability have given way to a tempest of unpredictability, casting a shadow on global economic outlook. Covid, like an unseen force, continues to influence market sentiment, spending habits, investment decisions, disrupting global supply chains, labor markets and consumer behavior.  

Recent global events has created an intricate web of challenges that defy predictions with uncertainty fueled by a myriad of factors. Governments today has to navigate uncharted waters through rising geopolitical tensions, fluctuating commodity prices, lingering effects of inflation and the uncertain shadow of the COVID pandemic.

"So, why are property prices rising in Singapore despite global unrest?" Real estate professional Kiwi Lim believe this may be the burning question among potential home buyers as they see property prices in Singapore continue to climb in spite of the above mentioned. 



In September last year, the Urban Redevelopment Authority of Singapore (URA) announced that with effect from 01 June 2023, harmonisation of floor area will apply to all development applications by developers submitted to URA on or after 1 June 2023 and will apply to all Government Land Sale (GLS) and industrial Government Land Sale (iGLS) land parcel sites launched for sale on or after 1 September 2022. 

Previously, agencies adopt different floor area measurements for various purposes. For example, URA uses gross floor area (GFA) to measure building intensity, SLA uses strata area to demarcate ownership, BCA uses statistical gross floor area (SGFA) to measure the total floor areas of a building, while SCDF uses accessible floor area (AFA) to determine fire safety requirements.  

Moreover, agencies also define their various floor areas differently. For instance, URA’s GFA is measured to include the full thickness of external walls but excludes voids, whereas SLA’s strata area is only measured up to the middle of the wall and may include voids. This results in QPs expending a significant amount of time and effort calculating the various floor areas to fulfil the different agencies’ regulatory requirements.

The different floor area definitions also create confusion for property owners who wish to carry out addition and alteration works within their strata units, but encounter increase in GFA of the development even though there is no increase in strata floor area e.g. slabbing over of internal void space.


Harmonisation of Floor Area

Therefore, in consultation with industry representatives from the professional institutes, URA, SLA, BCA and SCDF have jointly reviewed the different floor area definitions to harmonise requirements across agencies, which aims to pave the way for coordinated submissions and improved productivity for the built environment profession. 

Harmonisation of floor area - key changes are summarised as follows:
a. All agencies’ floor areas will be measured to the middle of the wall
b. All strata areas will be included as GFA
c. All voids will be excluded from strata area
d. BCA and SCDF will adopt an aligned definition for SGFA computation

"With all strata areas now included as GFA, developers will no longer have any 'bonus' space like balconies or aircon ledges to 'spread or off-load' their profit in order to reduce the overall per square foot (psf) prices of each unit of residence. Developers will therefore need to find new ways to enhance their offerings with efficient layouts and passing on the total GFA count as higher costs to homebuyers in the form of higher psf prices." said real estate analyst Kiwi Lim.



Construction Costs Expected To Continue Rising

The Singapore government has been working hard to increase work permit holders to ease the manpower shortages seen in the early days of the Covid-19 pandemic with contractors and developers getting their main source of foreign labor from both China and India.

However, construction costs have risen sharply and are likely to increase further as migrant worker domitory spaces are now more expensive due to acute shortages and higher costs. Prices of construction materials are affected by supply chain disruptions and higher costs of securing building materials amidst global unrest and uncertainty.


Prices of fuel and energy critical for building and construction is also expected to rise as fear of escalating unrest in the Middle East grows, adversely affecting oil supplies. Higher energy prices will raise the cost of manufacturing, operations and transportation of building materials in the construction of properties.

Demand for construction equipment will remain strong with the ongoing and upcoming condo projects, BTOs, healthcare & medical hubs, attractions, MRT construction and infrastructure, etc for the next 5 to 10 years in Singapore's masterplan.



​Singapore's Economic Recovery Journey

In the aftermath of global challenges, Singapore emerges as a testament to resilience and adaptability on the economic front. The Lion City, known for its robust economic foundation, has embarked on a recovery journey marked by innovation, strategic planning, and a community-driven approach.

Navigating Challenges with Strategic Precision: Singapore's economic recovery strategy is characterized by a meticulous and data-driven approach. From the onset of the challenges, the government swiftly implemented measures to support businesses, protect jobs, and stimulate economic activity. The commitment to fiscal prudence and strategic investments has created a stable platform for recovery.

Innovation as a Catalyst: At the heart of Singapore's recovery lies a commitment to innovation. The city-state has leveraged its reputation as a hub for technology and research to drive advancements in sectors like digitalization, biotechnology, and sustainable solutions. The emphasis on a Smart Nation agenda positions Singapore at the forefront of global technological innovation.

Reskilling for the Future: Recognizing the evolving nature of industries, Singapore has placed a significant focus on reskilling and upskilling its workforce. Initiatives and partnerships between government, educational institutions, and businesses aim to equip individuals with the skills needed for the jobs of the future, fostering a resilient and adaptable workforce.

Green and Sustainable Initiatives: Environmental sustainability is a cornerstone of Singapore's recovery blueprint. The nation has embraced green initiatives, investing in renewable energy, sustainable urban planning, and eco-friendly infrastructure. These endeavors not only contribute to global environmental goals but also position Singapore as a leader in sustainable development.


International Collaboration and Trade: Singapore's recovery is intricately linked to its role as a global trade and financial hub. The nation has actively pursued international collaborations, fostering strong economic ties and trade partnerships. The establishment of travel corridors and open economic policies demonstrates a commitment to global interconnectedness.

Community-Driven Resilience: The resilience of Singapore's economy is not solely the result of government measures but is deeply rooted in the collaboration of its diverse and dynamic community. The resilience of businesses, the adaptability of individuals, and the collective spirit of the nation have played pivotal roles in navigating challenges and shaping the recovery trajectory.

As Singapore progresses on its recovery journey, the nation stands as a beacon of determination and innovation. The integration of technology, sustainability, and community engagement positions Singapore not just as a survivor of challenges but as a model for sustainable and inclusive economic growth in the post-pandemic world.

Published on
Picture

Genting Singapore's expansion plans to develop a new waterfront complex at Resorts World Sentosa (RWS)


"The Waterfront"

Whether you're a thrill-seeker, nature enthusiast, or someone looking for a relaxing getaway, Genting Singapore's Resorts World Sentosa (RWS) offers a wide range of attractions and experiences to cater to various interests.

Genting Singapore just announced its plans on 10 November (Friday) 2023 to transform Sentosa as the number one tourism destination in Asia with S$6.8 billion pumped into its expansion plans to develop a new waterfront complex at Resorts World Sentosa (RWS) - "The Waterfront" is an iconic integrated development comprising approximately 700 hotel rooms and 228,658 square feet of retail shopping and dining space with construction expected to commence next year in 2024. "The Waterfront" will showcase to the world unique “experiential lifestyle content in a captivating blend of biophilic architecture that is designed by award winning firm Benoy” featuring an amazing waterfront sculpture.

In a statement with its financial results for the third quarter of 2023, Genting Singapore said the approved investment would “firmly anchor RWS as the most sought-after tourism destination in Asia, propelling the group’s strong future growth”. The S$6.8 billion will be funded through internal resources and the project has already received provisional government approval.
 
Picture

"The Waterfront" is an iconic new waterfront complex at Resorts World Sentosa (Image - Resorts World Sentosa)


Minion Land, The Forum & Singapore Oceanarium

Genting Singapore also gave updates on the status of its three ongoing projects: the transformation of The Forum shopping area which will feature three levels of experiential retail & multi-dimensional dining set in a "lush natural environment" in RWS, the development of a new Minion Land attraction in Universal Studios Singapore, and the rebranding of SEA Aquarium to the Singapore Oceanarium (SGO) - set to be three times larger than its predecessor comprising of a multi-zone immersive exhibition and a research and learning centre. All three projects are “progressing well”, and are expected to soft-open in early 2025.

Genting Singapore is confident of Singapore's future prospects as it posted a net profit of S$216.3 million for the third quarter ended September which is up 59 per cent from S$135.8 million in the corresponding year-ago period.

The group's revenue was up 33 per cent to S$689.9 million for the quarter, from S$519.7 million a year ago. Of this, revenue from its gaming segment rose 20 per cent on the year to S$459.6 million, while non-gaming revenue jumped 68 per cent to S$230.1 million.

Genting Singapore Group expect its gaming revenue to continue improving, exceeding pre-Covid levels in 2019 for both VIP and mass gaming segments.

Picture

Screenshot from Genting Singapore's 38th AGM


Resorts World Sentosa (RWS)

​​Being one of Asia's popular integrated resort destination, Resorts World Sentosa (RWS) currently offers a variety of attractions and entertainment options. Below are several attractions that are highly reviewed by visitors worldwide:
  1. Universal Studios Singapore: RWS is home to Universal Studios Singapore, a world-renowned theme park featuring thrilling rides, live shows, and attractions based on popular movies.
  2. S.E.A. Aquarium: One of the largest aquariums in the world, the S.E.A. Aquarium at RWS allows visitors to explore the fascinating underwater world and witness a diverse range of marine life.
  3. Adventure Cove Waterpark: If you enjoy water activities, Adventure Cove Waterpark offers exciting water slides, a lazy river, snorkeling with fish, and other aquatic adventures.
  4. Dolphin Island: Interact with dolphins and learn about marine conservation at Dolphin Island. This attraction provides opportunities for close encounters and educational experiences.
  5. The Maritime Experiential Museum: Explore the maritime history of Asia at this museum, featuring interactive exhibits and immersive displays.
  6. Luxurious Accommodations: RWS offers a range of accommodations, including high-end hotels and resorts, providing visitors with a luxurious and comfortable stay.
  7. Dining and Entertainment: RWS boasts a diverse selection of dining options, from fine dining to casual eateries. Additionally, there are vibrant nightlife options, including bars and entertainment shows.
  8. Shopping: The resort features a shopping street with a variety of retail outlets, offering a range of products from fashion and accessories to souvenirs.
  9. Festive Walk: Enjoy the vibrant atmosphere at Festive Walk, a promenade filled with shops, restaurants, and street performances.
  10. Spa and Wellness: Relax and rejuvenate at the spa facilities available at RWS, providing a perfect retreat for those seeking wellness activities.
  11. Entertainment Shows: Catch world-class entertainment shows, concerts, and performances at venues like the Resorts World Ballroom.
  12. Cable Car Ride: Take a scenic cable car ride to Sentosa and enjoy panoramic views of the surroundings.

Property To Watch: The Reef at King's Dock

Near the gateway to Sentosa, there was once a dock that became the second largest in the world, a luxurious landmark home for those who desire to live by the sea - The Reef at King's Dock was conceived and launched nearly three years ago in January 2021 selling more than 90% on its first preview weekend. The Reef at King's Dock is designed by visionary architect and founder of Rotterdam - Zurich - Shanghai based KCAP Architects & Planners, Kees Christiaanse and developed by reputable big boys in Singapore's real estate scene - Mapletree and Keppel Land.

Inspired by resort spas and contemporary luxury hotels, all 429 exclusively private residences at The Reef at King's Dock have been conceived as the perfect scape for the well-heeled and well-travelled. Like a series of urban sculptures, The Reef at King's Dock, with its 10 residential blocks, creates an exclusive, tranquil environment within the vibrant Greater Southern Waterfront at the edge of the upcoming Sentosa - Brani district. 

The Reef at 
King's Dock allows you to enjoy life even closer to the sea without being on a yacht as it features Singapore’s first floating deck in a private residential development, resembling the exclusive Club Med Resort feel that offers quality seaside living synonymous with luxury, relaxation, and vibrant experiences. The revolutionary 180 metre long floating deck is the only one of its kind in Singapore and features an ensemble of swimming pools and a viewing deck overlooking the underwater colony of corals and marine life thriving at King’s Dock.

"Building progress has been on schedule and the developer is expecting the TOP and key collection date sometime next year in 2024.
 The Reef at King's Dock is currently 97% sold with some units of 3 bedroom, 3 bedroom + study and a last unit of 3 bedroom villa available for sale to the discerning few" say real estate professional Kiwi Lim from Huttons Asia "the recent announcement by Genting Singapore is also believed to bring excitement to the residents living nearby as well ".

Meanwhile, if you have yet to visit the various attractions at Sentosa, you might consider bringing your family to have a fun time visiting Resorts World Sentosa this weekend. 
Published on

J'den's sales preview on 11 Nov 2023 saw more than 87% of the total units sold in one day


Redefining the concept of unrivalled convenience, J’den - a fully integrated condo project developed by Capitaland sets a new precedent today at their sales preview where they sold more than 87% of their total 368 private residential units available in the whole development by 5pm on 11 Nov 2023 (Saturday). Analysts believe the average price of the units sold today should be ranging between $2,450 psf to $2,500 psf for J’den

It is evident that Singapore's home buyers desire the ultimate convenience for an integrated lifestyle - where countless conveniences extend both within and without, interweaving organically with sheltered elevated pedestrian network known as J’Walk for easy sheltered access to Jurong East MRT Station and upcoming MRT stations (4 MRT Lines - 2 upcoming and 2 existing), large shopping malls like Westgate, Jem and IMM, medical hub, library, aircon bus interchange, Grade A offices and more..

Strategically positioned near edenic lake gardens, J'den offers unrivalled lifestyle experiences with its 40 storey building towering above the skyline of Jurong Lake District which includes a sky terrace and state-of-the-art amenities, above a two-storey commercial podium. 

Real estate professional Kiwi Lim believe buyers are emboldened by the potential of Singapore’s next largest business district in Jurong Gateway and their confidence in the broad prospects and golden opportunities for growth in Jurong Lake District which is likely to translate into capital gains for them.



6.5-hectare white site in Jurong Gateway for sale to Master Developer

In June this year, the government released a 6.5-hectare white site consisting of three plots of GLS land parcels in the Jurong Gateway precinct for sale to a Master Developer to kickstart the next phase of development in Jurong Lake District and to cater to demand for office, private residential and complementary spaces in the medium term. 

This White site comprises three plots of land (see map above) linking the existing commercial centre at Jurong East MRT interchange station to the new precinct and the future Jurong Lake District station of the Cross Island Line. With a potential yield of at least 146,000 sqm of office space, about 1,700 dwelling units and 73,000 sqm of gross floor area for complementary uses such as shop, restaurants, entertainment, hotel, community uses or more offices, the proposed integrated development will be progressively completed over the next 10 to 15 years  and provide the critical mass to propel the development of this future business district. 

The intention is for the Master Developer to comprehensively master plan the entire site to integrate the various uses, coordinate implementation of the development and adopt district-level urban solutions such as a district cooling system and district pneumatic waste conveyancing system. These systems allow for more efficient delivery of urban services, in the supply of chilled water and managing waste disposal at a district level and help in the realisation of larger sustainability objectives for JLD.  

The Concept and Price Revenue Tender approach will be adopted to evaluate the tender submissions for the site to ensure that the selected concept proposal is aligned with the vision for the JLD. Tenderers are required to submit their concept proposals and tender prices separately. The concept proposals will first be evaluated against a set of criteria specified in the tender based on evaluation criteria. The intention is to shortlist concept proposals that feature a distinctive, highly sustainable mixed-use development with well-designed people-friendly public spaces and amenities to serve the needs of the business and local communities. Only compelling concept proposals will be shortlisted to proceed to the second stage of evaluation, which will be based on price only.

The successful tenderer will be required to build at least 70,000 sqm GFA of office space and 600 private housing units as part of the first phase of the development, but will have flexibility to phase out the remaining supply according to market demand, via an option scheme drawn up by URA. The tender for this Jurong Lake District Master Developer site that is situated beside J'den will close at 12 noon on 26 March 2024. 



Future Resale Prices at Jurong Gateway District 

As part of URA’s decentralisation strategy, JLD will be progressively developed into Singapore’s largest business district outside the city centre to cater to varied business needs. JLD is envisioned to be a model sustainability district with a goal to achieve net-zero emissions for new developments around 2045. It will have distinctive mixed-use developments with well-curated public spaces and amenities to serve the needs of the business and local communities as well as the general public. 

Today, the area around the Jurong East MRT interchange station comprises office, retail and institutional uses. By 2028, a new Jurong Region Line station and an Integrated Transport Hub comprising offices, community spaces and retail amenities will be built next to Jurong East MRT interchange station. The Government will sustain the development momentum at JLD, through the release of sites for sale, with the supply carefully paced to take into account economic and market conditions. The commercial hub will be extended progressively and seamlessly southwards into a new 120-hectare precinct via elevated pedestrian linkages and lushly planted streets. With more flexibility in zoning, the expanded JLD allows companies to experiment with new development concepts and innovative ways to integrate live, work and play in a green and car-lite precinct.

"Future resale prices at Jurong Gateway Business District may likely see resale transactions hovering around $2,800 psf in 2028 as some J'den buyers may sell in the open market expecting to cash out with at least $200 psf gain on their J'den purchase today." said Kiwi Lim who has been analysing the real estate market for more than 10 years, "developers will also be be more confident in their bid for the GLS white sites in Jurong Lake District and elsewhere after today's amazing results at J'den's preview."

The recent GLS results also indicate that condos next year in the OCR may launch from $2,4xx psf with Singapore’s economy expected to grow at an average of around 3 percent per year from now till 2030 possibly outperforming other developed economies. Click to read the article below.


Published on
Picture

Pipes of the centralised cooling system concealed by trunking in a new 4-room BTO flat in Tengah. (Photo: SP Group)


Unlike conventional air conditioning which uses refrigerants, the Centralised Cooling System (CCS) is a more energy-efficient cooling solution when compared to conventional air-conditioning systems as it removes heat by piping chilled water into homes from centralised chillers on selected housing blocks with piping running through corridors and into each unit via the front door.  

The  Centralised Cooling System (CCS) was a key feature in Tengah's eco-friendly push. While the concept has been used in commercial settings, it is new to public housing and is optional for home owners. Those who prefer conventional air-conditioning units can install them instead. 

However, recent residents of the units with Centralised Cooling System (CCS) have written to the authorities asking for usage rates to be adjusted or for fees to be completely waived for those looking to terminate their centralised cooling system contract. 

One of the main concerns included how the supposed cost savings from opting for the cooling system instead of conventional air conditioning appeared to be lower than what they were told. To date, more than 100 residents have already sent petitions to the Prime Minister’s Office (PMO), expressing their "anxiety and disappointment over the issues" with the system detailing five key concerns regarding excessive charges, misleading advertisement and information, a lack of transparency, cancellation policy issues, and poor communication. 

The concept of a centralised cooling system for residential homes is new and SP Group manages the sign-ups, installation and maintenance of the system while working with air-con manufacturer Daikin to install indoor units, diagnosing and resolving reported issues.


HDB's Centralised Cooling System (CCS) regulate the temperature within Tengah's BTO flats


On 6 November 2023 (Monday), SP Group said it understands “some time may be needed” for the earlier batches of homeowners to get used to the Centralised Cooling System (CCS) and as an additional goodwill gesture, SP Group will waive all centralised cooling system usage charges for Tengah customers during this interim period from now to 31 December 2023.

SP Group currently collects an extra 35 per cent of the installation charge from customers who choose not to proceed with the system after a 30-day cooling off period when they sign an installation agreement due to costs and resources incurred to secure supply and contracts for the installation. Customers also have to pay the full installation charge if they choose not to proceed after the fan coil units, piping and cabling have been installed (see table 1 below).

As a form of goodwill, SP Group announced it will now reduce the payment to be collected by 50 per cent in the event of cancellation as a “further gesture of goodwill”. This was after taking into account feedback from the early batch of homeowners and the initial issues that cropped up.

SP Group also said it has engaged with residents from more than 2,000 households through various platforms in the last 12 months through the Tengah website and app and 18 events held for residents to provide updates on their upcoming centralised cooling system activation and address their queries in person.

Meanwhile, HDB said it will continue to “monitor feedback” and support SP Group to ensure the roll-out of the centralised cooling system in Tengah “proceeds as smoothly as possible”.


The estimated amounts that Tengah homeowners will have to pay based on the number of fan coil units installed at the prevailing prices. (Photo: SP Group)


Tengah - Singapore's First Eco Town

Singapore's dream of creating the first eco-town to instill a greater sense of place, well-being, and quality of life is finally happening in the masterplan of Tengah Town, lovingly known as “Forest Town”, which draws on a slew of sustainable planning principles to create an ecological town of unprecedented depth and scope.

Tengah is the first HDB town to have a car-free Town Centre where green commute such as walking and cycling are encouraged. The separation of pedestrian flow from vehicular flow right in the heart of town will create a safer and friendlier space. 

Tengah Town includes changing the lighting system for greater energy efficiency, finding pockets of space within the towns to put in more greenery and community gardens and having infrastructure such as bike paths and electric infrastructure for vehicles built into the design of the town. 

Smart solutions in Tengah Township can help create a more sustainable, liveable, and safe environment, while enabling residents to benefit from more efficient services and greater convenience. Tengah eco-Town will house five districts and will include the creation of a 100m wide and 5km long forest corridor. Walking and cycling paths will create Singapore’s first car-free town centre.

Most bus stops will be within 300 metres of residential blocks in Tengah Town. Bus services are also comprehensively planned to facilitate both intra-town connection to key amenities and inter-town connection to nearby MRT stations and workplaces. Bus priority corridors also enhance the overall bus network.

"Tengah residents can access neighboring towns, Jurong lake District, Jurong Gateway CBD or to the city via the upcoming Jurong Region Line (JRL) or dedicated bus services. Within Tengah, there are 4 upcoming Jurong Region Line (JRL) MRT stations: JS3, JS4, JE1, and JE2. Brickland District will also be served by NS3A. Most Tengah residents will live within walking distance to an MRT station, providing greater convenience for all reducing the need for residents there to own a car." say 
real estate professional Kiwi Lim from Huttons Asia. 

HDB's Biophilic Town Framework for Tengah

HDB has taken great effort to develop the Biophilic Town Framework to create a nature-centric neighborhood in a holistic manner, so that future residents living in Tengah can better connect with nature and enjoy its intrinsic benefits.

Guided by the Biophilic Town Framework, housing developments in Tengah are designed with the 5 key elements of neighborhood landscapes - soil, flora and fauna, outdoor comfort, water, and people. All the districts in Tengah will incorporate biophilic designs to connect residents more closely to nature, to promote better health and well-being, and to offer a greater sense of place. In addition to the Centralised Cooling System to provide a more energy-efficient cooling solution than conventional air-conditioning systems, HDB also has a few more innovative eco initiatives not yet seen in other towns for Tengah Town below: 

Solar Photovoltaic Panels
In addition to the horizontal solar photovoltaic (PV) panel on residential rooftops, vertical solar PV panels will also be piloted. The solar energy collected from both the horizontal and vertical PV panels would be used to power the Centralised Cooling System (CCS) in residents’ homes, as well as supplement the electric load for the Electric Vehicle (EV) charging. The vertical solar PV panel will be neatly integrated with the building façade, resulting in an aesthetical appearance while generating solar energy.

Environmental simulations
HDB uses environmental simulation tools to design a windy and shady living environment. For example, we strategically place HDB blocks so that they do not obstruct wind flow to playground and preschools.

Pneumatic Waste Conveyance System (PWCS)
The PWCS is an automated waste collection system that uses high-speed air to transport household waste, and will replace the conventional truck collection at every residential block. The waste will be transported from surrounding blocks to a central location, through an underground pipe network. The PWCS helps create a cleaner and more hygienic living environment by reducing odor and spillages associated with manual collection, and minimises pest infestation.

Published on
Picture

Tenders for 3 plots of Government Land Sale (GLS) for Lorong 1 Toa Payoh, Clementi Avenue 1 and Pine Grove (Parcel B) land parcel sites closed today at 12 noon on 7 November 2023 (Tuesday).

"From the bid prices submitted, developers who successfully acquired these land parcels in the OCR regions may likely be launching these upcoming condo developments from $2,4xx psf onwards due to higher construction costs and higher energy prices from turmoil in the Middle East" said real estate professional Kiwi Lim who has been advising clients through his analysis of the market for more than a decade.  


Picture

The Government Land Sale (GLS) site at Clementi Avenue 1 was launched for sale under the Confirmed List in August this year and can potentially yield about 500 private residential units sitting on 144,734 sq ft (1.34ha) of land space. 

The tender for Clementi Ave 1 land parcel attracted 6 bidders as Clementi is a matured estate surrounded by amenities and is home to many good schools, example Nan Hua High School, Clementi Primary School, Pei Tong Primary School, Clementi Town Secondary School, NUS High School of Mathematics and Science, Singapore Polytechnic and National University of Singapore (NUS). 

"Clementi Ave 1 land parcel is also near to two recently completed projects — The Clement Canopy and Clavon, both projects by UOL Group." said real estate professional Kiwi Lim "The Clement Canopy site was acquired in December 2015 at a land rate of $615 psf per plot ratio (ppr) and the Clavon site was acquired in July 2019 at $788
psf per plot ratio (ppr). The recent acquisition of the Clementi Avenue 1 site at approximately $1,250 psf per plot ratio (ppr) shows the amount of confidence the developer has for Clementi area.

Kiwi Lim believe that if the new upcoming condo on the plot of land in Clementi Ave 1 is going to be launched from around $2,400 psf next year, then it will make J'den a very attractive option for the lucky buyers who have registered to be invited for the VIP preview of J'den this Saturday on 11 November 2023. Capitaland is expected to be launching the rare fully integrated condo J'den this Saturday to registered buyers from $2,1xx psf. J'den is located at the previous JCube which is connected to almost the whole of Jurong Gateway CBD via a level 2 elevated walkway - J Walk, which allows residents to walk to Westgate, JEM, IMM, Ng Teng Fong Medical Hub, 4 MRT Lines (2 upcoming) and grade A offices.
Picture

The Government Land Sale (GLS) site at Lorong 1 Toa Payoh was launched for sale under the Confirmed List in September 2023 and can potentially yield about 775 private residential units. Measuring 169,456 sq ft, the 99-year leasehold site’s mature location will draw developers’ interest, along with the area's limited new private home supply.

Toa Payoh estate has not seen any new private home launches for nearly 8 years, with the last new condo launch being the 578-unit Gem Residences which was acquired by the developer for $755 psf per plot ratio (ppr) in May 2016, with 50% of units taken up at an average price of $1,425 psf on the first weekend of launch.

"The recent successful bid of $1,360 psf per plot ratio (ppr) is possibly due to strong upgraders’ demand for this neighborhood and may see developer launching at an estimated average of $2,5xx psf next year" said Kiwi Lim from the largest private real estate agency in Singapore.


Picture

The Government Land Sale (GLS) site at Pine Grove (Parcel B) was launched for sale under the Confirmed List a few months ago and can potentially yield about 565  private residential units. ​The tenders for Pine Grove (Parcel B) attracted 3 bidders with a land site area of 25,039.2 sq m with a maximum GFA of 52,583 sq m. It is estimated to yield about 565 housing units. 

The Pine Grove (Parcel B) land parcel would be the second plot to be launched for tender in the area, and sits next to the just-launched Pinetree Hill project, which was sold to a joint venture between UOL Group and Singapore Land Group in June 2022 for S$671.5 million, giving a land rate of S$1,318 psf ppr.

The developer who successfully bidded for the Government Land Sale (GLS) site at Pine Grove (Parcel B) may likely have been inspired by from the sales of the 520-unit Pinetree Hill which was launched in July this year and has sold 151 units to date at an average price of about $2,369 psf, based on latest available caveats data.

Published on

Tapping on Jurong Lake District’s exciting transformation, J’den features a 38-storey residential tower with 368 apartments above a two-storey commercial podium (Image: CapitaLand Development)


CapitaLand Development (CLD) recently launched J'den for the public to visit its sales gallery from 28 Oct (Saturday) which is located offsite (away from the actual J'den location) near Kent Ridge MRT at 71 Science Park Dr. 

More than 7,000 visitors visited J'den sales gallery on its first weekend of public preview last weekend, and sales bookings for J'den will commence next Saturday on 11 November.

The enthusiastic turnout for J'den is widely due to the pent-up demand in private residential launches in Jurong Gateway - the vibrant heart of Jurong Lake District, as the last condo launched there was exactly 10 years ago known as J Gateway.

J Gateway was launched ten years ago 
with all of its 738 units sold in a single day when the project previewed in June 2013 at an average selling price of $1,480 per square foot (psf) — a record for the area at that time. Recent transacted resale at J Gateway sold above $2,100 per square foot (psf).

Potential buyers were also confident in the developer CapitaLand's reputation and the strong interest and desire to own integrated condo as well as the exceptional locational and product attributes of J'den. Known for delivering high-quality and innovative developments, CapitaLand has a track record of creating iconic properties that align with global standards of excellence in architecture, design, and sustainability. The company is committed to sustainable development, consistently integrating eco-friendly practices and green building principles into its projects.  

JCube was home to Singapore’s only Olympic-size ice-skating rink and was a training venue for national athletes from the Singapore Ice Skating Association and the Singapore Ice Hockey Association. The only other ice rink is located at Leisure Park Kallang. CapitaLand is in the process of tearing down JCube to make way for the building of J'den.

J'den will be linked directly to the Jurong East MRT interchange station, Westgate and IMM Building via J-Walk, which is a covered elevated pedestrian network in the district. Jurong East interchange station now serves the East-West and North-South lines, and will link up with the future Jurong Region Line, which will open in phases from 2027 as well as the upcoming Cross Island Line (CRL) therefore giving future residents of J'den the utimate convenience of having 4 MRT lines at its doorstep and it will also be linked to the upcoming Jurong East Integrated Transport Hub, which will include an air-conditioned bus interchange, a public library, a community club and a sports centre, among other commercial spaces.

CapitaLand has announced that J'den will launch at prices starting from S$2,100 per square foot (psf) for the 99-year leasehold fully integrated condo project which is a redevelopment of the former JCube, a leisure and edutainment mall in Jurong East.

Market analysts expect the average selling prices of J'den’s residential units to range between S$2,200 and S$2,300 psf, considering that J Gateway's recent transaction exceeded $2,100 per square foot (psf) with a land lease that is older than J'den by ten years. This is because CapitaLand topped up J'den's land lease to start from 30 Aug 2023 for the 99 year leasehold project. 

Kiwi Lim from Huttons Asia (the appointed marketing agency) said "it is interesting to note that there are no freehold condo projects in the whole of the Jurong Lake District as the government intends to transform the whole district into a model city for the world to see - a Singapore 2.0 city." 

The Jurong Lake District is a major regional hub and Singapore's 2nd CBD - ideal for the next generation of businesses and talent to redesign the way we live, work, play and learn.


Integrated condo developments are usually very popular with buyers who desire ultimate convenience and appreciate the luxury of having everything at right at their doorstep. An integrated development usually offers rare convenience and connectivity to residents that is not available in almost 95% of condo projects in Singapore by combining residential units with a shopping mall and a transport hub with direct access to MRT stations and / or bus interchanges. As such, many buyers are usually very willing to pay a higher price for a residential condo as their home or investment property that forms part of an integrated development.

This is especially so when the cost of car ownership is expected to rise with COE expected to exceed $200,000 by 2030. Recent COE (Certificate of Entitlement) prices already exceeded $150,000 in exchange for a licence allowing you to own a car for only 10 years. Therefore, many feel home buyers may be willing to tradeoff car ownership for a home with easy transportation access as a more sustainable and affordable option.

Located at Bukit Timah Nature Reserve, The Reserve Residences offers vibrant living in touch with nature within an urban centre in the rejuvenated Beauty World neighbourhood. More than 90% sold, click on image to find out more


Will J'den sell more than 70% on its preview next weekend?

​The market is comparing J'den with another recently launched integrated condo project located at the foothills of Bukit Timah Nature Reserve known as The Reserve Residences that offers vibrant living in touch with nature within an urban centre in the rejuvenated Beauty World neighborhood that sold more than 70 per cent of its 732 units during its launch in one weekend at an average price of $2,460 per sq ft (psf) as reported by its developer Far East Organization and venture partner Sino Group.

The Reserve Residences is a thoughtfully curated integrated development with transport hub that features a blend of 1- to 5-bedroom luxury residences, serviced residences, retail and public spaces. Situated in the Beauty World neighborhood, seamlessly connecting it to transport networks and nature attractions.  

J'den located at Jurong Gateway which is touted to be the 2nd CBD in Singapore with many more upside potential developments coming up when compared to The Reserve Residences, shares a few similarities together.

Both integrated condo projects benefit from a network of connectivity provided by a transport hub seamlessly connected to transport networks, close proximity to major expressways, and multiple walkways linking you to nearby amenities. Nature is a few minutes’ walk away, with nature parks, attractions and shopping malls to explore.

An acclaimed architectural masterpiece by a highly awarded architect - WOHA has crafted an environment that harmonises people with nature at The Reserve Residences. Generous open living spaces are naturally lit and ventilated, infused with textures and lush greenery. Thoughtful residence layouts maximise spatial flexibility and connect to the outdoors, enveloping residents in the panoramic views of the neighboring forested reserves.

As the year 2023 comes to an end, real estate professional Kiwi Lim believe that J'den may set the tone for next year's property market sentiment possibly affecting how developers would bid for upcoming GLS land in 2024.

"I expect supply for upcoming new condos to be lower in 2024 and 2025 as I do not foresee many successful enbloc sales in the next two years" said Kiwi Lim "potential enbloc sellers are asking high prices and foreigners who own properties in these potential enbloc projects may be unwilling to sell due to the high 60% ABSD they need to pay if they buy a replacement private residential property. Without land from enbloc deals, developers would be hard pressed to secure much needed land parcels from GLS"

Kiwi Lim

Hi, I am Kiwi Lim. Welcome to my personal blog. I love blogging about the property market, my analysis & views for your useful reference.

Picture
​Follow me on Linkedin for more property news

Scan QR to chat about your real estate needs

More News:

Categories

Be among the first to view Singapore’s newest condo projects