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Sales of new private homes picked up strongly in November despite the start of the year-end holiday period, according to data released by the Urban Redevelopment Authority on Monday on 16 Dec 2019. The date from the government agency revealed that excluding executive condominiums (ECs), developers sold 1,147 units last month, 23.2 per cent more than 931 units in October and just 4.5 per cent fewer than the 1,201 units in November 2018, which was the most since the 2018 property cooling measures. Including ECs, which are a public-private housing hybrid, developers moved 1,168 units in November, a 21.9 per cent increase from 958 units in October and just 3 per cent lower than a year ago - figures from URA showed.
Sales figures of significant projects in 2019 - URA / CBRE (ST Graphics)
Last month, developers launched 740 private homes for sale, down 17 per cent from 892 units in October, and a hefty 44.9 per cent less than the corresponding 1,342 units in November last year. There were no ECs launched last month.
November’s take-up was led by projects coming up in the suburban areas or outside central region (OCR) which saw 608 units sold. This was followed by 351 units from projects in the city fringes or rest of central region (RCR) and 188 units from those in the prime districts or core central region.
The best-selling project was the 680-unit Sengkang Grand Residences which launched for sale last month. The 99-year leasehold condominium coming up next to Buangkok MRT Station sold 235 units of the 280 units offered at a median price of $1,741 per square foot (psf).
November’s take-up was led by projects coming up in the suburban areas or outside central region (OCR) which saw 608 units sold. This was followed by 351 units from projects in the city fringes or rest of central region (RCR) and 188 units from those in the prime districts or core central region.
The best-selling project was the 680-unit Sengkang Grand Residences which launched for sale last month. The 99-year leasehold condominium coming up next to Buangkok MRT Station sold 235 units of the 280 units offered at a median price of $1,741 per square foot (psf).
Jui Residences is a rare freehold, beautiful heritage city fringe condo project in District 13 on Serangoon Road right next to the beautiful Kallang River
The 296-unit One Holland Village Residences, located in a prime district, sold 87 units of the 126 units launched in late November at a median price of $2,606 psf.
Three previously launched projects did well in November include Parc Esta (102 units), Jadescape (60 units) and Parc Botannia (59 units).
Year to date, a total of 9,547 units, excluding ECs, have been sold, out of 10,751 units launched, already exceeding the 8,795 units for the whole of last year. Some market watchers said developer sales could exceed 10,000 units for the whole of 2019.
Real estate professional Kiwi Lim from Huttons Asia believes Singapore's property market will only get better next year in 2020, with the economically damaging US - China trade war dispute showing signs of resolving. The recent phase-one trade deal between the world's 2 largest economies of US and China could de-escalate trade tensions and boost market confidence surely benefit Singapore's economy with capital continuing to enter Singapore’s property market next year as more Chinese capital flows inward towards Singapore from Hong Kong and China.
Market analysts also believe that mortgage rates may remain low or even go lower next year, which would help property buyers and further boost property sales.
Three previously launched projects did well in November include Parc Esta (102 units), Jadescape (60 units) and Parc Botannia (59 units).
Year to date, a total of 9,547 units, excluding ECs, have been sold, out of 10,751 units launched, already exceeding the 8,795 units for the whole of last year. Some market watchers said developer sales could exceed 10,000 units for the whole of 2019.
Real estate professional Kiwi Lim from Huttons Asia believes Singapore's property market will only get better next year in 2020, with the economically damaging US - China trade war dispute showing signs of resolving. The recent phase-one trade deal between the world's 2 largest economies of US and China could de-escalate trade tensions and boost market confidence surely benefit Singapore's economy with capital continuing to enter Singapore’s property market next year as more Chinese capital flows inward towards Singapore from Hong Kong and China.
Market analysts also believe that mortgage rates may remain low or even go lower next year, which would help property buyers and further boost property sales.
Neu at Novena is a new residential condo in the heart of Novena, on the fringe of Orchard Road behind Novena MRT station
From Straits Times Online Article: New private home sales rebound in Nov
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Well-located One Holland Village Residences draws healthy sales
A consortium comprising Far East Organization, Sekisui House and Sino Group has sold 92 units at One Holland Village Residences. These units were sold between Nov 21, when preview sales at the 296-unit project began, and 6 pm on Dec 1. The District 10 project's official launch was held on Saturday, Nov 30. The sales outcome is seen as positive, given the relatively high price points. In its release on Sunday evening, Far East said that the average achieved prices for the three components are S$2,600 psf for Sereen, S$2,900 psf for Leven and S$3,200 psf for Quincy Private Residences.
The most popular units are the one- and two-bedroom apartments in Sereen. Ninety per cent of the total 92 units sold were bought by Singaporeans. Permanent residents and foreigners made up the remaining buyers. These include South Koreans, Norwegians and US citizens. Buyers of just under half of the total 92 units sold live in Districts 10 and 11. One Holland Village Residences and a 255-unit serviced residence Quincy House make up the residential component of the mixed-use project, which will also have offices and retail space.
A consortium comprising Far East Organization, Sekisui House and Sino Group has sold 92 units at One Holland Village Residences. These units were sold between Nov 21, when preview sales at the 296-unit project began, and 6 pm on Dec 1. The District 10 project's official launch was held on Saturday, Nov 30. The sales outcome is seen as positive, given the relatively high price points. In its release on Sunday evening, Far East said that the average achieved prices for the three components are S$2,600 psf for Sereen, S$2,900 psf for Leven and S$3,200 psf for Quincy Private Residences.
The most popular units are the one- and two-bedroom apartments in Sereen. Ninety per cent of the total 92 units sold were bought by Singaporeans. Permanent residents and foreigners made up the remaining buyers. These include South Koreans, Norwegians and US citizens. Buyers of just under half of the total 92 units sold live in Districts 10 and 11. One Holland Village Residences and a 255-unit serviced residence Quincy House make up the residential component of the mixed-use project, which will also have offices and retail space.
One Holland Village is a refreshed, and re-energised Holland Village to be a living, vibrant community where people gather to live, play, work, eat, and shop – the Village brings everyone and everything together as one.
Government holds housing land sales steady amid supply-demand gap
The government is holding land supply for private homes steady for the first half of 2020, which should keep the residential market stable amid a big supply of unsold units. It said that it will keep the supply of private housing units on the confirmed list for the H12020 government land sales (GLS) programme broadly similar to that for H22019. The confirmed list for H12020 has three new sites on it - two private residential sites (including an executive condominium or EC site), and a commercial and residential site. Jointly, they can yield about 1,775 private residential units (including 600 EC units) and 22,000 sq m of gross floor area (GFA) of commercial space. In the confirmed list in H22019, 1,715 private residential units were made available. Huttons Asia's real estate analyst Kiwi Lim believe that the government's move to keep the supply of dwelling units similar to that in H22019 is good news, as it reduced its initial planned supply quantity in order to keep the market stable. Therefore, Kiwi Lim predicts the property market prices in Singapore to see a continuous growth albeit a slower growth instead of taking a dip.
Two plum sites in latest land sales; Bt Timah plot to revive Jln Anak Bukit vicinity
Two plum sites - Jalan Anak Bukit for mixed development and Tanah Merah Kechil Link residential site - have been offered in the latest Government Land Sales (GLS) programme for 1H 2020. The sites are well located near MRT stations, with the Jalan Anak Buikit site having an integrated bus interchange which will provide amenities for commuters and residents in the area. In line with the 2019 Master Plan to transform the Beauty World area, the government has decided to push out an integrated transport hub site on the 1H 2020 GLS programme, said Lee Sze Teck, director (research), at Huttons Asia. "This is definitely the choicest site of all and will be on the radar of a lot of developers," said Mr Lee.
The government is holding land supply for private homes steady for the first half of 2020, which should keep the residential market stable amid a big supply of unsold units. It said that it will keep the supply of private housing units on the confirmed list for the H12020 government land sales (GLS) programme broadly similar to that for H22019. The confirmed list for H12020 has three new sites on it - two private residential sites (including an executive condominium or EC site), and a commercial and residential site. Jointly, they can yield about 1,775 private residential units (including 600 EC units) and 22,000 sq m of gross floor area (GFA) of commercial space. In the confirmed list in H22019, 1,715 private residential units were made available. Huttons Asia's real estate analyst Kiwi Lim believe that the government's move to keep the supply of dwelling units similar to that in H22019 is good news, as it reduced its initial planned supply quantity in order to keep the market stable. Therefore, Kiwi Lim predicts the property market prices in Singapore to see a continuous growth albeit a slower growth instead of taking a dip.
Two plum sites in latest land sales; Bt Timah plot to revive Jln Anak Bukit vicinity
Two plum sites - Jalan Anak Bukit for mixed development and Tanah Merah Kechil Link residential site - have been offered in the latest Government Land Sales (GLS) programme for 1H 2020. The sites are well located near MRT stations, with the Jalan Anak Buikit site having an integrated bus interchange which will provide amenities for commuters and residents in the area. In line with the 2019 Master Plan to transform the Beauty World area, the government has decided to push out an integrated transport hub site on the 1H 2020 GLS programme, said Lee Sze Teck, director (research), at Huttons Asia. "This is definitely the choicest site of all and will be on the radar of a lot of developers," said Mr Lee.
Two plum sites - Jalan Anak Bukit for mixed development and Tanah Merah Kechil Link residential site - have been offered in the latest Government Land Sales (GLS) programme for 1H 2020
Kampong Bugis, River Valley GLS sites up for application
The Urban Redevelopment Authority (URA) has made available for application a white site in Kampong Bugis and a hotel site in River Valley Road on the government's reserve list. The Kampong Bugis site, at the mouth of Kallang River, will be released for sale to a master developer to allow for a comprehensive master plan, development in phases, and the implementation of district-wide "car-lite" initiatives and sustainable urban solutions. The 8.2 hectare (ha) site can potentially yield up to 4,000 housing units and 50,000 sq m of gross floor area (GFA) for complementary uses such as retail, serviced apartments and offices and for community use.
The site has a maximum GFA of 390,000 sq m. The URA has also drawn up an option scheme, which is a flexible-payment scheme and phaseddevelopment approach to enable the chosen developer to phase the site's development according to market demand, and so bear lower upfront costs and risks. The entire precinct is estimated to be completed over 11 to 13 years. The 1.02 ha River Valley site, located above Fort Canning MRT station and situated between Fort Canning Park and the Singapore River, has a maximum GFA of 28,666 sq m and could yield 530 hotel rooms. It has been envisioned as a distinctive waterfront landmark.
HDB resale prices up 0.6% in November
Housing and Development Board (HDB) resale prices have notched their biggest month-on-month (m-o-m) increase this year despite a smaller number changing hands. Resale prices, which through most of 2019 have moved within a -0.2 to +0.2 per cent range, rose 0.6 per cent in November from October. It is the biggest monthly increase since January's 0.5 per cent rise from December 2018. Prices in non-mature estates rose by 2 per cent year-on-year. Those in mature estates fell 2 per cent.
The Urban Redevelopment Authority (URA) has made available for application a white site in Kampong Bugis and a hotel site in River Valley Road on the government's reserve list. The Kampong Bugis site, at the mouth of Kallang River, will be released for sale to a master developer to allow for a comprehensive master plan, development in phases, and the implementation of district-wide "car-lite" initiatives and sustainable urban solutions. The 8.2 hectare (ha) site can potentially yield up to 4,000 housing units and 50,000 sq m of gross floor area (GFA) for complementary uses such as retail, serviced apartments and offices and for community use.
The site has a maximum GFA of 390,000 sq m. The URA has also drawn up an option scheme, which is a flexible-payment scheme and phaseddevelopment approach to enable the chosen developer to phase the site's development according to market demand, and so bear lower upfront costs and risks. The entire precinct is estimated to be completed over 11 to 13 years. The 1.02 ha River Valley site, located above Fort Canning MRT station and situated between Fort Canning Park and the Singapore River, has a maximum GFA of 28,666 sq m and could yield 530 hotel rooms. It has been envisioned as a distinctive waterfront landmark.
HDB resale prices up 0.6% in November
Housing and Development Board (HDB) resale prices have notched their biggest month-on-month (m-o-m) increase this year despite a smaller number changing hands. Resale prices, which through most of 2019 have moved within a -0.2 to +0.2 per cent range, rose 0.6 per cent in November from October. It is the biggest monthly increase since January's 0.5 per cent rise from December 2018. Prices in non-mature estates rose by 2 per cent year-on-year. Those in mature estates fell 2 per cent.
One Pearl Bank is Capitaland's rare iconic masterpiece near CBD within 3 minutes walk to Outram Park MRT Interchange (East-West Line, North-East Line and the upcoming Thomson-East Coast Line) via sheltered walkway
Non-resident deposits in Singapore rise over past few months
Bank deposits here from residents outside Singapore rose to levels not seen since early-2016, preliminary data from the Monetary Authority of Singapore showed. The latest data showed S$49.76 billion from residents outside Singapore were held through the domestic banking unit as at October this year. It includes deposits from persons with registered addresses outside Singapore - including overseas residents - Singaporeans working abroad, and companies with a registered address outside Singapore. Figures compiled by The Business Times showed that such deposits have been rising month to month since April. That makes seven straight sessions of expansion. Foreign-currency deposits have also continued their climb. As at October, they totalled S$15.47 billion - the highest since 1991, which is as far as records went - having risen in each consecutive month since May this year, with the biggest surge recorded in July. Foreign-currency deposits come from both residents and non-residents, and have mostly stayed within the S$7-8 billion range in the past three years.
Singapore business sentiment up slightly in Q1 2020; hiring to drop
Business sentiment among local firms has risen slightly for the first quarter of 2020, according to the latest Business Optimism Index study by the Singapore Commercial Credit Bureau (SCCB). Business sentiment rose to +5.31 percentage points in Q1 2020 from +4.82 percentage points in Q4 2019, with five of six indicators in the positive zone. The services sector was the most optimistic for Q1 2020, with all six indicators in the green. Its selling price indicator jumped to +29.03 percentage points from -12.90 percentage points in Q4 2019. Employment levels was the only indicator that fell, from +12.90 percentage points to +6.56 percentage points. The study polled 200 business owners and senior executives representing major industry sectors across Singapore.
Bank deposits here from residents outside Singapore rose to levels not seen since early-2016, preliminary data from the Monetary Authority of Singapore showed. The latest data showed S$49.76 billion from residents outside Singapore were held through the domestic banking unit as at October this year. It includes deposits from persons with registered addresses outside Singapore - including overseas residents - Singaporeans working abroad, and companies with a registered address outside Singapore. Figures compiled by The Business Times showed that such deposits have been rising month to month since April. That makes seven straight sessions of expansion. Foreign-currency deposits have also continued their climb. As at October, they totalled S$15.47 billion - the highest since 1991, which is as far as records went - having risen in each consecutive month since May this year, with the biggest surge recorded in July. Foreign-currency deposits come from both residents and non-residents, and have mostly stayed within the S$7-8 billion range in the past three years.
Singapore business sentiment up slightly in Q1 2020; hiring to drop
Business sentiment among local firms has risen slightly for the first quarter of 2020, according to the latest Business Optimism Index study by the Singapore Commercial Credit Bureau (SCCB). Business sentiment rose to +5.31 percentage points in Q1 2020 from +4.82 percentage points in Q4 2019, with five of six indicators in the positive zone. The services sector was the most optimistic for Q1 2020, with all six indicators in the green. Its selling price indicator jumped to +29.03 percentage points from -12.90 percentage points in Q4 2019. Employment levels was the only indicator that fell, from +12.90 percentage points to +6.56 percentage points. The study polled 200 business owners and senior executives representing major industry sectors across Singapore.
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TWO plum sites - Jalan Anak Bukit for mixed development and Tanah Merah Kechil Link residential site - have been offered in the latest Government Land Sales (GLS) programme for 1H 2020.
There is also a site in Yishun for developers to bid to build an EC, this will be the first EC plot in the area to be offered for the GLS since 2014, after The Criterion and Signature at Yishun, so homeowners who would love to own an EC in Yishun will be very happy.
There is also a site in Yishun for developers to bid to build an EC, this will be the first EC plot in the area to be offered for the GLS since 2014, after The Criterion and Signature at Yishun, so homeowners who would love to own an EC in Yishun will be very happy.
The confirmed list for H12020 has three new sites on it - two private residential sites (including an executive condominium or EC site), and a commercial and residential site.
The three confirmed-list sites - the lowest in five years - can accommodate only 1,775 residential units, compared with five such sites with 1,715 units for this half of the year.
The amount of private residential housing under the Government Land Sales (GLS) programme has been kept largely unchanged for the first half of next year helping to stabilise the property market in the face of slowing economic growth, supply and moderating bids by developers in the wake of cooling measures.
There are only three sites on the confirmed list for the first half next year, with most plots on the reserve list, which may not be triggered for sale. The three confirmed-list sites and eight reserve-list plots could yield about 6,490 private homes in all but 4,715 of these are on reserve-list land. The potential total supply also includes 1,070 hotel rooms and 114,000 sq m in gross floor area (GFA) of commercial space, which is 24 per cent higher than the 92,000 sq m for the second half of this year.
The amount of private residential housing under the Government Land Sales (GLS) programme has been kept largely unchanged for the first half of next year helping to stabilise the property market in the face of slowing economic growth, supply and moderating bids by developers in the wake of cooling measures.
There are only three sites on the confirmed list for the first half next year, with most plots on the reserve list, which may not be triggered for sale. The three confirmed-list sites and eight reserve-list plots could yield about 6,490 private homes in all but 4,715 of these are on reserve-list land. The potential total supply also includes 1,070 hotel rooms and 114,000 sq m in gross floor area (GFA) of commercial space, which is 24 per cent higher than the 92,000 sq m for the second half of this year.
Parc Esta is a hot selling new condo within 3-mins walk to Eunos MRT station next to the bus interchange
The three confirmed-list sites for next year comprise two pure residential plots - one in Tanah Merah Kechil Link and one executive condominium (EC) site in Yishun Avenue 9 - and one commercial and residential parcel in Jalan Anak Bukit in Bukit Timah. They could yield 1,775 dwelling units and 22,000 sqm of commercial space.
Huttons Asia Real Estate's Kiwi Lim believes that "out of these 2 plots of land (excluding the EC plot), the Tanah Merah Kechil Link site will most probably attract the most number of bids from developers because it is very near to Tanah Merah MRT station and its size of 310 residential units, which makes it easier for smaller developers to bid as well."
The Jalan Anak Bukit site is also very attractive being it proximity to Beauty World MRT station but due to its large size, this project may only appeal to developers with deep pockets. The government is also planning an urban transformation of the Beauty World area.
Huttons Asia Real Estate's Kiwi Lim believes that "out of these 2 plots of land (excluding the EC plot), the Tanah Merah Kechil Link site will most probably attract the most number of bids from developers because it is very near to Tanah Merah MRT station and its size of 310 residential units, which makes it easier for smaller developers to bid as well."
The Jalan Anak Bukit site is also very attractive being it proximity to Beauty World MRT station but due to its large size, this project may only appeal to developers with deep pockets. The government is also planning an urban transformation of the Beauty World area.
Linq at Beauty World is a rare upcoming freehold new condo (formerly Goh & Goh Building) next to Beauty World MRT near Beauty World Centre and Bukit Timah Shopping Centre.
Business Times Online Article - 4 Dec 2019: "Two plum sites in latest land sales; Bt Timah plot to revive Jln Anak Bukit vicinity"
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