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Avenue South Residence is a new condo by UOL to be a gateway to the live-work-play lifestyle of the future Greater Southern Waterfront - a dynamic city centre with exuberant business and lifestyle opportunities. You may click this image for ebrochure & prices. Expected to TOP in 3rd qtr next year, its nearly 80% sold
Singapore's economy looks to be on the rebound after its worst recession since independence last year as countries around the world progresses with their vaccination campaigns with many developed nations seeing more than half of their populations vaccinated against the pandemic.
Sectors such as bio-medical, manufacturing, construction, transportation and logistics are likely to see healthy growth next year as nations open up for more trade and tourism. External demand for goods and services produced in Singapore is also expected to see an increase as global trade resumes slowly to pre-Covid levels.
Sectors such as bio-medical, manufacturing, construction, transportation and logistics are likely to see healthy growth next year as nations open up for more trade and tourism. External demand for goods and services produced in Singapore is also expected to see an increase as global trade resumes slowly to pre-Covid levels.
Singapore is sticking to its plan to cautiously reopen more sectors of its economy and live with the coronavirus as its case count surges, relying on one of the world’s highest vaccination rates to keep hospitalizations low. Looser restrictions will help consumer-facing industries and ease labour shortages.
After a better-than-expected first half of 2021, driven partly by strong manufacturing and finance sector output, the second half of this year should see outward-oriented sectors remain healthy barring a major setback for the global economy.
Singapore's economy is expected to grow 6.5% this year and 4.1% in 2022 on expectations of revived global demand, as well as relaxing of domestic and border restrictions as its vaccination rate hit more than 80% of the overall populace.
After a better-than-expected first half of 2021, driven partly by strong manufacturing and finance sector output, the second half of this year should see outward-oriented sectors remain healthy barring a major setback for the global economy.
Singapore's economy is expected to grow 6.5% this year and 4.1% in 2022 on expectations of revived global demand, as well as relaxing of domestic and border restrictions as its vaccination rate hit more than 80% of the overall populace.
Overall the real estate sector has done well on the back of increased genuine demand from Singaporean households, low interest rates, policy support helping businesses and households as well as confidence that the world will be able to overcome Covid virus soon.
Real estate professional Kiwi Lim from Huttons Asia believe developers in Singapore are starting to keep a serious lookout for enbloc opportunities among the older private residential developments as they expect the broader economy to continue recovering in the years ahead anticipating broad-based property market recovery.
Developers are no longer expecting the government to release more Government Land Sites than the usual scheduled releases. This means developers will have to look towards older private estates for choice developments to acquire if they hope to top up their much needed land banks to generate more revenue in the years to come.
Real estate professional Kiwi Lim from Huttons Asia believe developers in Singapore are starting to keep a serious lookout for enbloc opportunities among the older private residential developments as they expect the broader economy to continue recovering in the years ahead anticipating broad-based property market recovery.
Developers are no longer expecting the government to release more Government Land Sites than the usual scheduled releases. This means developers will have to look towards older private estates for choice developments to acquire if they hope to top up their much needed land banks to generate more revenue in the years to come.
Flynn Park in Pasir Panjang has been sold for $371 million to a joint venture between Hoi Hup Realty and Sunway Developments - brokered by Savills Singapore
The recent successful enbloc of Flynn Park in Pasir Panjang which exceeded the reserve price that owners are willing to sell for. The enbloc sale worked out to approximately $1,355 per sq ft per plot ratio (psf ppr) or approximately $1,318 psf ppr if we include the 7 per cent bonus balconies. The future development may have to sell at $2,500 psf onwards based on rough estimates.
Kiwi Lim believe that this time round, developers may be more focused on acquiring smaller private residential developments as developers expect pay higher prices to the enbloc sellers in this current sellers market in the face of acute shortage of upcoming new launch condo projects in the market from now till end of 2023. If domestic demand for properties continue to be strong, supply will be further squeezed to record low levels.
Meanwhile we've been receiving enquiries from potential Asian investors who are keen on Singapore real estate. Since Covid-19, Singapore has become an even more popular investment market for foreign investors who are very positive on the outlook for the Singapore real estate market.
Kiwi Lim believe that this time round, developers may be more focused on acquiring smaller private residential developments as developers expect pay higher prices to the enbloc sellers in this current sellers market in the face of acute shortage of upcoming new launch condo projects in the market from now till end of 2023. If domestic demand for properties continue to be strong, supply will be further squeezed to record low levels.
Meanwhile we've been receiving enquiries from potential Asian investors who are keen on Singapore real estate. Since Covid-19, Singapore has become an even more popular investment market for foreign investors who are very positive on the outlook for the Singapore real estate market.
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