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Natura Loft DBSS in Bishan continually see its resale flats being sold for above $1 million - The New Paper
Flats at Natura Loft in Bishan continue to fetch a handsome price, with the recent sale of a five-room unit there again crossing the $1 million mark. According to data from the Housing Board, the flat, with just under 90 years of its lease left, was sold for $1,208,000 this month. This is believed to be the highest resale price for a Design, Build and Sell Scheme (DBSS) unit, Chinese newspaper Shin Min Daily News reported yesterday.
The new record is not a surprise, given that the housing market has been on the rebound after the circuit breaker as the market is seeing an increase in HDB resale prices in tandem with what has been happening across all segments of the housing market.
Even during this circuit breaker, Singapore's housing market saw private residential and HDB property sales volume going up and especially in good locations. Flash estimates from real estate portal SRX revealed last Thursday that prices of Housing Board resale flats increased for the third consecutive month last month.
DBSS flats are Housing Board flats designed, built and sold by private developers but are still considered as HDB public housing flats. Meant to provide condominium-style homes, the scheme was suspended in 2011 after public unhappiness over high selling prices.
The new record is not a surprise, given that the housing market has been on the rebound after the circuit breaker as the market is seeing an increase in HDB resale prices in tandem with what has been happening across all segments of the housing market.
Even during this circuit breaker, Singapore's housing market saw private residential and HDB property sales volume going up and especially in good locations. Flash estimates from real estate portal SRX revealed last Thursday that prices of Housing Board resale flats increased for the third consecutive month last month.
DBSS flats are Housing Board flats designed, built and sold by private developers but are still considered as HDB public housing flats. Meant to provide condominium-style homes, the scheme was suspended in 2011 after public unhappiness over high selling prices.
City View @ Boon Keng
The Pinnacle @ Duxton in Tanjong Pagar
Housing Board resale prices rose by 0.8 per cent last month compared with August, a faster rate than the previous two months. In all, 2,489 HDB flats were sold last month, a 2.2 per cent increase from August. The previous record price for a DBSS unit was the $1,205,000 paid for a five-room flat on the 39th-storey at City View in Boon Keng which also saw a few units sold for more than $1 million.
Eight resale flats also sold for above $1 million, one of them a five-room flat at The Pinnacle@Duxton in Tanjong Pagar, which sold for $1.258 million. It is believed to be a record for a resale HDB flat.
Launched as an HDB Build-to-Order (BTO) project back in May 2004, The Pinnacle@Duxton is the one and only BTO project to date that’s located in the city. Completed in 2010, the project began selling at record prices soon after the flat owners attained their five-year Minimum Occupation Period (MOP) towards the end of 2014.
Eight resale flats also sold for above $1 million, one of them a five-room flat at The Pinnacle@Duxton in Tanjong Pagar, which sold for $1.258 million. It is believed to be a record for a resale HDB flat.
Launched as an HDB Build-to-Order (BTO) project back in May 2004, The Pinnacle@Duxton is the one and only BTO project to date that’s located in the city. Completed in 2010, the project began selling at record prices soon after the flat owners attained their five-year Minimum Occupation Period (MOP) towards the end of 2014.
The private home market continues to defy gravity amid the pandemic, with last month’s sales up for a fifth straight month to hit levels not seen for more than two years. The robust numbers – 1,329 units sold, 5.6 per cent more than the 1,258 in August – came despite a fall in the number of new homes launched last month. This was the highest number of private new home transactions since July 2018, when 1,724 units were transacted after new property cooling measures fuelled a surge in sales from buyers rushing to beat the deadline.
Attractively priced projects in the city fringe – known as the rest of central region – continued to fuel sales last month, accounting for nearly 65 per cent of total transactions, analysts noted. The standout among three new non-landed launches last month was Penrose in Sims Drive, while existing top sellers such as JadeScape and The Woodleigh Residences also fared well.
Real estate professional Kiwi Lim from Huttons Asia said "the Covid pandemic this year in 2020 did not put a dent in local property prices as many property analysts predicted early this year. Instead, we are seeing an average increase of around 2% to 4% in property prices across the private residential and public housing sector in various locations in Singapore. This is mainly from local pent-up demand as foreign buyers for the first time ever are mostly kept out of Singapore during this Covid period. As Singapore opens up for foreigners to enter our borders, we may expect to see increased foreign interest in our property market."
Attractively priced projects in the city fringe – known as the rest of central region – continued to fuel sales last month, accounting for nearly 65 per cent of total transactions, analysts noted. The standout among three new non-landed launches last month was Penrose in Sims Drive, while existing top sellers such as JadeScape and The Woodleigh Residences also fared well.
Real estate professional Kiwi Lim from Huttons Asia said "the Covid pandemic this year in 2020 did not put a dent in local property prices as many property analysts predicted early this year. Instead, we are seeing an average increase of around 2% to 4% in property prices across the private residential and public housing sector in various locations in Singapore. This is mainly from local pent-up demand as foreign buyers for the first time ever are mostly kept out of Singapore during this Covid period. As Singapore opens up for foreigners to enter our borders, we may expect to see increased foreign interest in our property market."
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Eric Tsang Just Earned S$16.8mil From Selling This Mansion He Bought For S$705K In 1988 - Today Online
Hongkong star Eric Tsang may have just made a huge killing on the property market.
Property prices in land-starved Hongkong have always been super high, but according to this report, 67-year-old Eric just made an enormous profit — we’re talking millions here — from the sale of this mansion he bought in 1988.
Property prices in land-starved Hongkong have always been super high, but according to this report, 67-year-old Eric just made an enormous profit — we’re talking millions here — from the sale of this mansion he bought in 1988.
Rainbow Villas along 1 Silver Lake Road in Hong Kong's Clear Water Bay, New Territories.
According to an insider, Eric had bought a mansion in a landed property development named Rainbow Villas in 1988, two years after it was completed in 1986. At that time, the mansion was valued at HKD$4.03mil (S$705,000), which was the price Eric had paid for the 1,789 sqft house.
After 32 years, it appears that the value has increased astronomically, with Eric selling his mansion to a buyer for a whopping HKD$100mil (S$17.5mil). Yup, your eyes aren’t deceiving you. Eric just earned S$16.8mil from that sale.
The insider then went on to share that the buyer apparently owns another mansion in the same development. Fellow celeb Liza Wang also owns a mansion there, having bought it for HKD$2.93mil (S$513,000) in 1987. She currently lives there as well. When reached for a comment, Liza shared that she has no intentions to sell her home, and that the sky-high price of said property was beyond her expectations.
After 32 years, it appears that the value has increased astronomically, with Eric selling his mansion to a buyer for a whopping HKD$100mil (S$17.5mil). Yup, your eyes aren’t deceiving you. Eric just earned S$16.8mil from that sale.
The insider then went on to share that the buyer apparently owns another mansion in the same development. Fellow celeb Liza Wang also owns a mansion there, having bought it for HKD$2.93mil (S$513,000) in 1987. She currently lives there as well. When reached for a comment, Liza shared that she has no intentions to sell her home, and that the sky-high price of said property was beyond her expectations.
Perched on top the green forest Pearl's Hill City Park, One Pearl Bank is set to be the tallest residential condo in the Outram-Chinatown district by Capitaland
If you also desire to live on top of a hill to enjoy the awesome hilltop view of Singapore, there is one condo development that you cannot miss. This condo project is called One Pearl Bank and it is developed by the reputable listed developer in Singapore - Capitaland.
Pearl's Hill is a tall hill almost the height of Fort Canning Hill and it is located right smack in the city surrounded by Clark Quay, Tiong Bahru, Chinatown, Outram Park and Tanjong Pagar. The location of One Pearl Bank is both rare and enviable for property investors and homebuyers and it offers a very privileged chance of living on top of a hill in Singapore - something few can enjoy in land scare Singapore. Truly a collectors gem and an iconic building to replace the old Pearl Bank apt.
Pearl's Hill is a tall hill almost the height of Fort Canning Hill and it is located right smack in the city surrounded by Clark Quay, Tiong Bahru, Chinatown, Outram Park and Tanjong Pagar. The location of One Pearl Bank is both rare and enviable for property investors and homebuyers and it offers a very privileged chance of living on top of a hill in Singapore - something few can enjoy in land scare Singapore. Truly a collectors gem and an iconic building to replace the old Pearl Bank apt.
Click to read about the first condo launch in Hong Kong after 1 year of violent anti-government protests amid Covid pandemic
Hong Kong is showing that its affinity for real estate has been unaffected by a year of anti-government protests and concerns over the coronavirus, with a large housing project launched this month registering the highest response in over two decades.
When the Pavilia Farm development in the New Territories district opened for subscription on 17 Oct 2020, eager buyers stocked up on food and water as they prepared for a long wait at the end of a snaking queue where signs read: "Expected waiting time: 8 hours."
The condo project, attractively priced and close to the busy Kowloon district, received close to 23,000 subscriptions for its first phase of 391 units. When completed in late 2022 it will have 3,000 apartments. All 391 units were sold, with prices from Singapore dollars $3,7xx psf onwards (HK$21,000 psf) the developer will be launched more units soon possibly at higher prices after seeing the take-up at Pavilia being the strongest in more than 20 years in one of the world's most expensive property markets and matched the frenzy seen at the time of the 1997 handover of the former British colony to China.
It is interesting to note that this rush to buy property in Hong Kong comes after social upheaval in the past year over China's plans to introduce a national security law in Hong Kong, which has led many investors to question the future of the global financial hub.
Real estate advisor Kiwi Lim from Huttons Asia believes that as Singapore looks to open the doors to Hongkongers thru our special travel bubble arrangement allowing Hongkongers to visit Singapore without needing to appy for special business visas, we may see an increase in property demand here.
When the Pavilia Farm development in the New Territories district opened for subscription on 17 Oct 2020, eager buyers stocked up on food and water as they prepared for a long wait at the end of a snaking queue where signs read: "Expected waiting time: 8 hours."
The condo project, attractively priced and close to the busy Kowloon district, received close to 23,000 subscriptions for its first phase of 391 units. When completed in late 2022 it will have 3,000 apartments. All 391 units were sold, with prices from Singapore dollars $3,7xx psf onwards (HK$21,000 psf) the developer will be launched more units soon possibly at higher prices after seeing the take-up at Pavilia being the strongest in more than 20 years in one of the world's most expensive property markets and matched the frenzy seen at the time of the 1997 handover of the former British colony to China.
It is interesting to note that this rush to buy property in Hong Kong comes after social upheaval in the past year over China's plans to introduce a national security law in Hong Kong, which has led many investors to question the future of the global financial hub.
Real estate advisor Kiwi Lim from Huttons Asia believes that as Singapore looks to open the doors to Hongkongers thru our special travel bubble arrangement allowing Hongkongers to visit Singapore without needing to appy for special business visas, we may see an increase in property demand here.
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Hong Kong's new condo saw highest response in two decades despite violent anti-govt protests & Covid
Prospective buyers wearing protective masks wait in line outside the sales office for the Pavilia Farm project by New World Development in Hong Kong, China October 14, 2020. — Reuters pic
Property prices in Singapore grew 0.8% in 3Q 2020 and are up 1.1% from 1Q 2020. Reasons for firmer prices include strengthening demand, low interest rates and high savings rate. This increase is expected as Singapore has a stable government and resilient economy with reasonably priced property with very limited land space for new property on the small island nation.
Hong Kong however is showing that its affinity for real estate has been unaffected by a year of anti-government protests and concerns over the coronavirus, with a large housing project launched this month registering the highest response in over two decades.
When the Pavilia Farm development in the New Territories district opened for subscription, eager buyers stocked up on food and water as they prepared for a long wait at the end of a snaking queue where signs read: "Expected waiting time: 8 hours." This response is possibly due to its attractively priced units from around Singapore dollars S$3,8xx psf onwards and located close to the busy Kowloon district. The first phase launch of the Pavilia Farm development received close to 23,000 subscriptions for its first 391 units and totally sold out all first phased units within hours prompting developer to consider increasing pricing for its upcoming second phase launch. When completed in late 2022 it will have 3,000 apartments consisting of 1 Bedroom (saleable area 278 sqft) to 4 Bedrooms (saleable area 1,383sq.ft.).
From what we understand, Hong Kong condo property's saleable area includes a portion of the common area directly outside the apartment and property buyers usually have to pay extra hundreds of thousands of dollars to buy a separate parking lot if they own a car.
Hong Kong however is showing that its affinity for real estate has been unaffected by a year of anti-government protests and concerns over the coronavirus, with a large housing project launched this month registering the highest response in over two decades.
When the Pavilia Farm development in the New Territories district opened for subscription, eager buyers stocked up on food and water as they prepared for a long wait at the end of a snaking queue where signs read: "Expected waiting time: 8 hours." This response is possibly due to its attractively priced units from around Singapore dollars S$3,8xx psf onwards and located close to the busy Kowloon district. The first phase launch of the Pavilia Farm development received close to 23,000 subscriptions for its first 391 units and totally sold out all first phased units within hours prompting developer to consider increasing pricing for its upcoming second phase launch. When completed in late 2022 it will have 3,000 apartments consisting of 1 Bedroom (saleable area 278 sqft) to 4 Bedrooms (saleable area 1,383sq.ft.).
From what we understand, Hong Kong condo property's saleable area includes a portion of the common area directly outside the apartment and property buyers usually have to pay extra hundreds of thousands of dollars to buy a separate parking lot if they own a car.
The Pavilia Farm condo project, attractively priced and close to the busy Kowloon district, received close to 23,000 subscriptions for its first 391 units. When completed in late 2022 it will have 3,000 apartments.
Realtors said the take-up at Pavilia was the strongest in more than 20 years in one of the world's most expensive property markets and matched the frenzy seen at the time of the 1997 handover of the former British colony to China.
But it comes after social upheaval in the past year over China's plans to introduce a national security law in Hong Kong, which has led many investors to question the future of the global financial hub. However, Hong Kong's home prices dropped just 4 per cent since a peak in May last year before the outbreak of protests and the spread of the coronavirus, supported by strong demand, a severe land shortage and low interest rates. This followed a six-fold rise in the index of private home prices since 2003.
The property market has accumulated over a year of demand since the social movement last June; the monthly transaction volume has been lower than usual, however people's confidence has come back after seeing (residential) prices have stayed resilient even during the Covid-19 outbreak.
Pavilia Farm is being built by New World Development and MTR Corp above the Tai Wai railway station, on the train line into Kowloon and Hong Kong Island, and will have a large shopping mall in its lower floors.
But it comes after social upheaval in the past year over China's plans to introduce a national security law in Hong Kong, which has led many investors to question the future of the global financial hub. However, Hong Kong's home prices dropped just 4 per cent since a peak in May last year before the outbreak of protests and the spread of the coronavirus, supported by strong demand, a severe land shortage and low interest rates. This followed a six-fold rise in the index of private home prices since 2003.
The property market has accumulated over a year of demand since the social movement last June; the monthly transaction volume has been lower than usual, however people's confidence has come back after seeing (residential) prices have stayed resilient even during the Covid-19 outbreak.
Pavilia Farm is being built by New World Development and MTR Corp above the Tai Wai railway station, on the train line into Kowloon and Hong Kong Island, and will have a large shopping mall in its lower floors.
Click to find out the upcoming new condo launches expected in the remaining part of 2020 and beyond
On one of the early days of the launch, organisers stopped people queuing from 11.30 am local time as lines extended from a show flat to a footbridge outside despite social distancing concerns.
Buyers said they were unconcerned about the exodus of residents following the protests last year as well as the possibility of a crash in prices.
Early this year in Jan 2020, media in Hong Kong reported many experienced property analysts predicting that Hong Kong's property market will experience a "double whammy" of coronavirus and protests which analysts expected to send Hong Kong’s home prices plunging in 2020.
Now Hong Kong's property analysts are singing another tune as they believe that the overwhelming response for this project demonstrates a rebound in the Hong Kong property sector and confidence from home buyers as property is still seen as a better way of capital conservation. Hong kong public felt there's limited investment channels right now and equity is believed as being too volatile for the masses.
Buyers said they were unconcerned about the exodus of residents following the protests last year as well as the possibility of a crash in prices.
Early this year in Jan 2020, media in Hong Kong reported many experienced property analysts predicting that Hong Kong's property market will experience a "double whammy" of coronavirus and protests which analysts expected to send Hong Kong’s home prices plunging in 2020.
Now Hong Kong's property analysts are singing another tune as they believe that the overwhelming response for this project demonstrates a rebound in the Hong Kong property sector and confidence from home buyers as property is still seen as a better way of capital conservation. Hong kong public felt there's limited investment channels right now and equity is believed as being too volatile for the masses.
Extracted from Business Times online article on 20 Oct 2020 & Pavilia Farm (Hong Kong) marketing information
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Penrose is jointly developed by Hong Leong Holdings and CDL in District 14 comprising five 18-storey towers, only a short walk to Aljunied MRT station near the Pan-Island Expressway and Kallang-Paya Lebar Expressway. The Central Business District is about 15 minutes' drive away. Click to find out more about this 'hot' condo project
The reputable Hong Leong group sold more than 60 per cent of its highly anticipated city fringe condo in Aljunied area called Penrose condominium over its launch last weekend on 26 September 2020, with the reception among buyers in line with recent data showing bullish new home sales defying the ongoing coronavirus pandemic.
Till today (1 Oct 2020), more than 380 units out of 566 in the 99-year leasehold development at Sims Drive had been taken up, said Hong Leong. The units were sold at prices starting from $788,000 for a one-bedroom apartment, $943,000 for a two-bedder, $1.33 million for a three-bedder and $2.11 million for a four-bedder, with some one bedroom condo units selling close to $1,800 psf.
The project's apartment sizes range from 474 square feet (sq ft) for a one-bedroom unit to 1,389 sq ft for a four-bedroom unit. Take-up was good across all unit types, with the selling prices working out to $1,500 to $1,700 per square foot, said Hong Leong with nearly 85 per cent of buyers being Singaporeans and permanent residents and foreigners making up the rest. Keen interest was also seen from HDB upgraders across areas islandwide.
Till today (1 Oct 2020), more than 380 units out of 566 in the 99-year leasehold development at Sims Drive had been taken up, said Hong Leong. The units were sold at prices starting from $788,000 for a one-bedroom apartment, $943,000 for a two-bedder, $1.33 million for a three-bedder and $2.11 million for a four-bedder, with some one bedroom condo units selling close to $1,800 psf.
The project's apartment sizes range from 474 square feet (sq ft) for a one-bedroom unit to 1,389 sq ft for a four-bedroom unit. Take-up was good across all unit types, with the selling prices working out to $1,500 to $1,700 per square foot, said Hong Leong with nearly 85 per cent of buyers being Singaporeans and permanent residents and foreigners making up the rest. Keen interest was also seen from HDB upgraders across areas islandwide.
CLAVON condo is developed by reputable UOL at Clementi Ave 1 only a few minutes walk to Clementi MRT and Clementi Central. Clavon is located near famous educational schools and close to Jurong CBD and Future Cross Island Line. Click to find out more about this upcoming condo project
Sales of new homes - mostly newly-launched condominiums - hit an 11-month high last month, defying the Hungry Ghost Month, and more importantly, the pandemic, the resultant recession and a surge in job losses. Real estate analysts believe the "pent-up demand" after Singapore's two-month circuit breaker upended sales and planned launches as well as buyers parking their money in property, which they see as a safe-haven asset amid an uncertain economy and volatile markets, and record-low interest rates making it seem a "good time" to get a home loan.
To promote a sustainable residential property market where prices move in line with economic fundamentals, the Singapore Government introduced a series of control measures since 2011. Among them are the Additional Buyer’s Stamp Duty (ABSD), Seller’s Stamp Duty (SSD) and the Loan-to-Value (LTV) ratio.
Huttons Asia real estate professional Kiwi Lim believe these cooling measures have effectively removed property speculators from Singapore's property market and managed Singapore's real estate prices to a realistic affordable level for upgraders and for local genuine demand.
To promote a sustainable residential property market where prices move in line with economic fundamentals, the Singapore Government introduced a series of control measures since 2011. Among them are the Additional Buyer’s Stamp Duty (ABSD), Seller’s Stamp Duty (SSD) and the Loan-to-Value (LTV) ratio.
Huttons Asia real estate professional Kiwi Lim believe these cooling measures have effectively removed property speculators from Singapore's property market and managed Singapore's real estate prices to a realistic affordable level for upgraders and for local genuine demand.
Myra Condo is an upcoming freehold condominium situated in a prime area in Meyappa Chettiar Road in Potong Pasir, District 13 only within less than 2 mins walk to Potong Pasir MRT, shopping mall, eateries & amenities. Click to find out more about this condo
With new sales regaining their momentum in recent months and the six-month ABSD extension announced by the government to help developers by giving them more time to sell their units without penalty, developers should not face much problems to sell out their units.
With developers running out of land banks for future condo project launches, it is possible that developers will start to buy land and kickstart the en bloc cycle in 2021. The last en bloc cycle started in 2016. 2021 marks the fifth year from 2016 and most, if not all developers would have sold out their units.
The last en bloc cycle started in 2016 when the uncompleted unsold units dropped to 20,000 units. As of 2Q 2020, the uncompleted unsold units stand at 27,977 units. In 1H 2020, developers have sold more than 3,800 units. July and August developer sales are expected to be more than 2,000 units in total. Even if the monthly sales for the remaining four months of 2020 slowed to 600 to 700 units, developers could be looking at selling 4,400 to 4,800 units in 2H 2020 or 8,200 to 8,700 units for 2020. If the sales momentum continues in 1H 2021, the number of uncompleted unsold units will dip below 20,000 units by 1H 2021. That is going to be a record low number of unsold units in recent years.
With developers running out of land banks for future condo project launches, it is possible that developers will start to buy land and kickstart the en bloc cycle in 2021. The last en bloc cycle started in 2016. 2021 marks the fifth year from 2016 and most, if not all developers would have sold out their units.
The last en bloc cycle started in 2016 when the uncompleted unsold units dropped to 20,000 units. As of 2Q 2020, the uncompleted unsold units stand at 27,977 units. In 1H 2020, developers have sold more than 3,800 units. July and August developer sales are expected to be more than 2,000 units in total. Even if the monthly sales for the remaining four months of 2020 slowed to 600 to 700 units, developers could be looking at selling 4,400 to 4,800 units in 2H 2020 or 8,200 to 8,700 units for 2020. If the sales momentum continues in 1H 2021, the number of uncompleted unsold units will dip below 20,000 units by 1H 2021. That is going to be a record low number of unsold units in recent years.
Extracted from news article in the print edition of The Straits Times on September 28, 2020
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Cloud kitchens are centralized licensed commercial food production facilities where anywhere from one or two to dozens of restaurants rent space to prepare delivery-optimized menu items.
A cloud kitchen business model is a F&B business model that allows established restaurant operators the flexibility to experiment with new concepts and themes in their menu, without much investment, and with reduced risks. A restaurant can open a new brand from the same kitchen using their existing resources. This is, in essence, a Virtual Restaurant Brand.
Cloud kitchens also known as “dark kitchens” or “virtual kitchens”. Such kitchens send food directly to customers via delivery apps, overcoming two common challenges faced by conventional F&B businesses: high shop front rental costs and manpower crunch for service staff. The business model also rides on an increasing demand for food delivery since the “circuit breaker” period from April to May, during which dining-out was not allowed and more people worked from home.
Cloud or virtual kitchen allows F&B businesses to make more sense of their current rentals by launching new brands within the same infrastructure. For running a standalone cloud kitchen, you would still need to rent a space, hire the staff, and spend on equipment and utilities.
In the case of virtual kitchens, however, you can experiment with multiple concepts, and the incremental revenue coming from the new brands is only going to contribute further to your existing business.
Virtual F&B businesses only exist online – either on the food aggregator apps or on their own food ordering website or mobile app. On the face of it, they have nothing to do with the restaurant housing the brand, but they use the same kitchen or have a separate area in the main kitchen. They may have different chefs or the same chefs cooking for the virtual brand in the off-peak hours of the restaurant.
Cloud kitchens also known as “dark kitchens” or “virtual kitchens”. Such kitchens send food directly to customers via delivery apps, overcoming two common challenges faced by conventional F&B businesses: high shop front rental costs and manpower crunch for service staff. The business model also rides on an increasing demand for food delivery since the “circuit breaker” period from April to May, during which dining-out was not allowed and more people worked from home.
Cloud or virtual kitchen allows F&B businesses to make more sense of their current rentals by launching new brands within the same infrastructure. For running a standalone cloud kitchen, you would still need to rent a space, hire the staff, and spend on equipment and utilities.
In the case of virtual kitchens, however, you can experiment with multiple concepts, and the incremental revenue coming from the new brands is only going to contribute further to your existing business.
Virtual F&B businesses only exist online – either on the food aggregator apps or on their own food ordering website or mobile app. On the face of it, they have nothing to do with the restaurant housing the brand, but they use the same kitchen or have a separate area in the main kitchen. They may have different chefs or the same chefs cooking for the virtual brand in the off-peak hours of the restaurant.
Parc Komo - CEL Development's freehold mixed development in Changi, is inspired by the Japanese concept of Komorebi, celebrating the blend of nature and order. An attractive mixed development condo from $1,450 psf.
With the growing demand for food delivery, cloud kitchens are being dubbed as the next big thing to happen to the FnB industry. Food is undergoing a retail revolution, and disruption is already happening in the way food is prepared, delivered, and consumed.
Consumer data is pointing towards a massive shift in the way people are eating from restaurants. Customers are becoming increasingly brand agnostic, giving space to the idea of new brands and innovation in operations.
On the same note, restaurant operators worldwide are adapting to cater to the growing demand for food delivery by remodeling and deconstructing traditional operations. Existing restaurants are turning into cloud kitchens and launching virtual restaurant brands from the same kitchen.
The COVID-19 pandemic and the subsequent lockdowns across the globe have further added to the demand for online food delivery.
Consumer data is pointing towards a massive shift in the way people are eating from restaurants. Customers are becoming increasingly brand agnostic, giving space to the idea of new brands and innovation in operations.
On the same note, restaurant operators worldwide are adapting to cater to the growing demand for food delivery by remodeling and deconstructing traditional operations. Existing restaurants are turning into cloud kitchens and launching virtual restaurant brands from the same kitchen.
The COVID-19 pandemic and the subsequent lockdowns across the globe have further added to the demand for online food delivery.
Penrose - a new upcoming condo along Sims Drive is an attractive city fringe condo within 6 min walk away to Aljunied MRT (East-West Line) located in a mature estate surrounded by amenities & eateries.
The F&B industry has been one of the Cloud Kitchens? worst-hit, owing to the complete lockdowns implemented by most nations. During these testing times, food delivery has still continued, with most of the restaurants switching to the delivery-only model, turning themselves into potential cloud kitchens.
As the lockdowns are being lifted in a staggered fashion and restaurants are reopening, while keeping the social distancing norms in mind, the footfall remains significantly lower. People are wary of going out in crowded places and are preferring to order from their homes instead.
This COVID-19 induced demand for food delivery is further leading to the emergence of cloud kitchens as the most preferred format for restaurant operators as well as customers. Once the pandemic is over, the demand for food delivery will be unaffected as people will be more used to the idea of food delivery and habituated to ordering-in.
While the cloud kitchen trend was becoming increasingly popular in pre-Covid times, its relevance has increased manifold during the pandemic. It's also the best way to keep the business afloat while maintaining the social-distancing guidelines.
As the lockdowns are being lifted in a staggered fashion and restaurants are reopening, while keeping the social distancing norms in mind, the footfall remains significantly lower. People are wary of going out in crowded places and are preferring to order from their homes instead.
This COVID-19 induced demand for food delivery is further leading to the emergence of cloud kitchens as the most preferred format for restaurant operators as well as customers. Once the pandemic is over, the demand for food delivery will be unaffected as people will be more used to the idea of food delivery and habituated to ordering-in.
While the cloud kitchen trend was becoming increasingly popular in pre-Covid times, its relevance has increased manifold during the pandemic. It's also the best way to keep the business afloat while maintaining the social-distancing guidelines.
Click Here for a comprehensive guide on "Decoding The Cloud Kitchen Business Models"
Inspired by articles from POSist - a company that provides Robust Cloud Kitchen Software & Restaurant Management System to manage your restaurant business efficiently.
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PENT-up demand continues to drive new private home sales in August - Business Times
PENT-up demand from local property buyers continues to drive new private home sales with 1,227 units sold in Singapore in August, an 11-month high with confident buyers pushing prices upwards amid worsening economic conditions and rising unemployment.
The high number of transactions surprised some because it was also the Hungry Ghost month, but it got an extra lift from Forett At Bukit Timah, a freehold development that was launched on Aug 8 - the first private residential project launch since the "circuit breaker" ended on June 1. A total of 212 units have been sold as of Aug 31.
According to URA Realis data, August's new home sales of 1,227 (excluding executive condominiums, or ECs) is the highest since September's 2019's 1,270, said Christine Sun, OrangeTee & Tie, head of research and consultancy. It is also up 13.6 per cent year-on-year and 9.3 per cent over July's 1,080. Including ECs, 1,276 units were sold in August.
The high number of transactions surprised some because it was also the Hungry Ghost month, but it got an extra lift from Forett At Bukit Timah, a freehold development that was launched on Aug 8 - the first private residential project launch since the "circuit breaker" ended on June 1. A total of 212 units have been sold as of Aug 31.
According to URA Realis data, August's new home sales of 1,227 (excluding executive condominiums, or ECs) is the highest since September's 2019's 1,270, said Christine Sun, OrangeTee & Tie, head of research and consultancy. It is also up 13.6 per cent year-on-year and 9.3 per cent over July's 1,080. Including ECs, 1,276 units were sold in August.
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"Backed by pent-up demand, we had anticipated that August's new home sales could match the 1,080 units sold in July, or perhaps just moderate slightly given that market activity is typically slower during the Hungry Ghost month (which started on Aug 19)," said Wong Siew Ying, PropNex head of research and content. "Hence, the 1,227 caveats posted in August has surprised on the upside" even as thousands lost their jobs due to Covid.
Singapore's gross domestic product is expected to shrink 6 per cent this year, according to private sector economists polled by the Monetary Authority of Singapore. Ministry of Manpower figures showed overall retrenchments - including citizens and non-citizens - of 6,700 in the second quarter and 3,220 in the first quarter, which was higher than the peak of 5,510 during the 2003 Sars outbreak, but below the 2009 global financial crisis high of 12,760.
Singapore's gross domestic product is expected to shrink 6 per cent this year, according to private sector economists polled by the Monetary Authority of Singapore. Ministry of Manpower figures showed overall retrenchments - including citizens and non-citizens - of 6,700 in the second quarter and 3,220 in the first quarter, which was higher than the peak of 5,510 during the 2003 Sars outbreak, but below the 2009 global financial crisis high of 12,760.
Property Sales Rising Thru Covid
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"Last month's new home sales defied gravity amid the pandemic, rising unemployment rate, Hungry Ghost month and cooling measures," said Ms Sun. New home sales seem to be driven by domestic demand where Singaporeans formed the bulk of purchasers (84.7 per cent) for the 1,223 new non-landed private homes sold last month, she noted.
For many Singaporeans, residential properties may still be a "safer bet" especially for investors who are looking for stable returns during times of economic uncertainty. Properties in Singapore generally have a good track record of yielding attractive capital appreciation over the past 30 years, especially for new projects that are well-located, possess good product attributes and built by renown developers. The low-interest rates have also provided some support for the property market as the borrowing cost or mortgages are now more affordable for new borrowers.
Evan Chung, the head of Knight Frank's property network, said the profile of buyers fit that of mostly "needs-based" purchasers. These include buyers who sold their properties and are now in need of a new home and those getting married in the coming months, or whose weddings have been pushed back due to the pandemic.
For many Singaporeans, residential properties may still be a "safer bet" especially for investors who are looking for stable returns during times of economic uncertainty. Properties in Singapore generally have a good track record of yielding attractive capital appreciation over the past 30 years, especially for new projects that are well-located, possess good product attributes and built by renown developers. The low-interest rates have also provided some support for the property market as the borrowing cost or mortgages are now more affordable for new borrowers.
Evan Chung, the head of Knight Frank's property network, said the profile of buyers fit that of mostly "needs-based" purchasers. These include buyers who sold their properties and are now in need of a new home and those getting married in the coming months, or whose weddings have been pushed back due to the pandemic.
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Propping up the market again are HDB upgraders who buy in the more affordable city fringe and mass-market segments. Drilling further into the data, buyers in August went for the more costly homes in the Rest of Central Region (RCR) pushing the share to 49.2 per cent or 604 units.
The OCR (Outside Central Region) accounted for 40.5 per cent or 497 new homes sales (excluding ECs). The expensive Core Central Region made up the remaining 10.3 per cent or 126 homes sold.
RCR's volume of 49.2 per cent is the highest since September 2019 when RCR formed 58.7 per cent of the total new home sales (excluding ECs).
Buyers are also willing to pay more, as seen by the higher median prices on a per sq foot (psf) basis in August over that of July. The estimated median unit prices on a psf in August have all increased across the top nine projects when compared with July's median unit price, with the highest gain of 4.6 per cent at the Daintree Residence.
The OCR (Outside Central Region) accounted for 40.5 per cent or 497 new homes sales (excluding ECs). The expensive Core Central Region made up the remaining 10.3 per cent or 126 homes sold.
RCR's volume of 49.2 per cent is the highest since September 2019 when RCR formed 58.7 per cent of the total new home sales (excluding ECs).
Buyers are also willing to pay more, as seen by the higher median prices on a per sq foot (psf) basis in August over that of July. The estimated median unit prices on a psf in August have all increased across the top nine projects when compared with July's median unit price, with the highest gain of 4.6 per cent at the Daintree Residence.
"Lots of foreign investments and opportunities are heading towards Singapore even before we open our doors to foreigners due to Covid restrictions." - Kiwi Lim (Huttons Asia)
"Most best-seller projects have seen a gradual upward trend in pricing this year," said Lam Chern Woon, Edmund Tie senior director, research and consulting. Added PropNex's Ms Wong: "Apart from Forett At Bukit Timah, which was launched in August, most of the top 10 best-selling projects in August had higher median transacted psf price compared to their respective median launch price."
Whistler Grand sold 51 units in August at a median price of S$1,558 psf, up 14.6 per cent from its launch price of S$1,360 psf. It was launched in November 2018. But two of the top 10 - The Garden Residences and The Woodleigh Residences - saw declines of 5.3 per cent and 5.6 per cent respectively in their median psf. Against July's psf price, The Garden Residences and The Woodleigh Residences managed a small uptick - up 0.3 per cent and one per cent respectively.
Huttons Asia's real estate adviser Kiwi Lim believe the opening of Singapore for MICE events will bring more foreign buyers into the already hot local property market as the current property sales are driven purely by local buyers due to pent-up demand and lesser supply of new launch condos in the market.
Whistler Grand sold 51 units in August at a median price of S$1,558 psf, up 14.6 per cent from its launch price of S$1,360 psf. It was launched in November 2018. But two of the top 10 - The Garden Residences and The Woodleigh Residences - saw declines of 5.3 per cent and 5.6 per cent respectively in their median psf. Against July's psf price, The Garden Residences and The Woodleigh Residences managed a small uptick - up 0.3 per cent and one per cent respectively.
Huttons Asia's real estate adviser Kiwi Lim believe the opening of Singapore for MICE events will bring more foreign buyers into the already hot local property market as the current property sales are driven purely by local buyers due to pent-up demand and lesser supply of new launch condos in the market.
From Business Times news article on 10 September 2020
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New home sales continued to rise for a third straight month amid a worsening economic outlook, with developers selling 1,080 non-landed private homes last month, up 8.2 per cent from June. This is up from a near six-year low during the circuit breaker period in April, but sales were down 8.4 per cent from 1,179 a year ago.
There were 869 private homes launched in July, up nearly 46 per cent from 597 in June, but down 4.6 per cent from 911 a year ago.
Last month's take-up was led by projects in the suburban sub-market (outside central region) with 548 sales, followed by 419 units sold in the city fringes or rest of central region, and 113 in the prime districts or core central region.
There were 869 private homes launched in July, up nearly 46 per cent from 597 in June, but down 4.6 per cent from 911 a year ago.
Last month's take-up was led by projects in the suburban sub-market (outside central region) with 548 sales, followed by 419 units sold in the city fringes or rest of central region, and 113 in the prime districts or core central region.
Treasure at Tampines condo project sold the most in July for outside central region with 548 sales, followed by 419 units sold in the city fringes or rest of central region, and 113 in the prime districts or core central region.
Figures show that the bulk of the units sold were from earlier launches, which accounted for 68 per cent of July's total sales. Data released by the Urban Redevelopment Authority (URA) yesterday, excluded executive condominium (EC) units, a public-private housing hybrid. Including EC units, 1,142 new non-landed homes were taken up last month, up nearly 11 per cent from June, but down about 27 per cent from 1,557 a year ago, the URA data showed.
Ms Wong Siew Ying, head of research at PropNex, noted that while the relatively brisk sales in recent months may seem at odds with the gloomy economic prognosis, the current downturn is not felt evenly across all sectors of the economy. "Some sectors - such as financial services and tech - have held up better than others, and (those who) feel more secure about their job prospects or have built up substantial savings may see this as an opportune time to enter the market."
Kiwi Lim from Huttons Asia felt that the absence of new launches last month shows caution among some developers. He believe that developers may delay their launches till next year when Covid vaccines are expected to be ready by laboratories across the world.
"Developers also need more time to recalibrate their pricing strategies as well as to (implement) safe management measures, especially for larger-scale projects," said Mr Ong Teck Hui, senior director of research and consultancy at JLL.
Ms Wong Siew Ying, head of research at PropNex, noted that while the relatively brisk sales in recent months may seem at odds with the gloomy economic prognosis, the current downturn is not felt evenly across all sectors of the economy. "Some sectors - such as financial services and tech - have held up better than others, and (those who) feel more secure about their job prospects or have built up substantial savings may see this as an opportune time to enter the market."
Kiwi Lim from Huttons Asia felt that the absence of new launches last month shows caution among some developers. He believe that developers may delay their launches till next year when Covid vaccines are expected to be ready by laboratories across the world.
"Developers also need more time to recalibrate their pricing strategies as well as to (implement) safe management measures, especially for larger-scale projects," said Mr Ong Teck Hui, senior director of research and consultancy at JLL.
Parc Clematis (former Park West) located at Clementi Ave 6 in the Clementi Estate right next to Nan Hua Primary School saw the 2nd highest sales for condo projects due to its proximity to amenities in a matured estate.
Interest in pricier units has picked up, analysts say. This is despite Singapore suffering a deeper recession in the second quarter than expected, with the economy contracting 13.2 per cent year on year, sharper than a 12.6 per cent plunge earlier estimated and the worst on record, the Ministry of Trade and Industry said last week.
URA Realis data showed 147 deals transacted at more than $2 million each in July compared with 118 such deals in June, said CBRE's head of research for South-east Asia Desmond Sim. "There were also some large quantum deals of more than $5 million in luxury projects such as 15 Holland Hill last month."
Upcoming launches include Penrose in Sims Drive and The Landmark in Chin Swee Road.
URA Realis data showed 147 deals transacted at more than $2 million each in July compared with 118 such deals in June, said CBRE's head of research for South-east Asia Desmond Sim. "There were also some large quantum deals of more than $5 million in luxury projects such as 15 Holland Hill last month."
Upcoming launches include Penrose in Sims Drive and The Landmark in Chin Swee Road.
Only one new launch condo for the month of July, freehold Forett at Bukit Timah is the only new launch, selling 172 units at a median price of $1,931 psf. Its attractive location & affordable freehold pricing appeals to buyers.
So far this month, freehold Forett at Bukit Timah is the only new launch, selling 172 units at a median price of $1,931 psf, JLL said.
Disputing talk of discounts, Mr Wong Xian Yang, Cushman & Wakefield's associate director of research for Singapore and South-east Asia, said median prices of the top five selling projects in July were similar to or even higher compared with those from the time of their launch to July.
For instance, the median price for The Florence Residences from the time of its launch to July was $1,471 per sq ft (psf), but it rose to $1,559 psf in July, he pointed out.
Upcoming launches include Penrose in Sims Drive and The Landmark in Chin Swee Road.
Disputing talk of discounts, Mr Wong Xian Yang, Cushman & Wakefield's associate director of research for Singapore and South-east Asia, said median prices of the top five selling projects in July were similar to or even higher compared with those from the time of their launch to July.
For instance, the median price for The Florence Residences from the time of its launch to July was $1,471 per sq ft (psf), but it rose to $1,559 psf in July, he pointed out.
Upcoming launches include Penrose in Sims Drive and The Landmark in Chin Swee Road.
Sourced from Straits Times News Article on 18 August 2020
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Linq @ Beauty World is a rare and exclusive freehold mixed condo development with only 120 residential & 54 commercial shops beside Beauty World MRT. Click Image to Enjoy Direct Developer Early Bird Discount.
Even though the circuit breaker was extended for another month till 1 June 2020. Sales however did not stagnate. In May 2020, new sales rebounded 75.8% higher month-on-month to 487 units. The unexpected surge in demand drove developers to release more units for sale. The amazing sales continued throughout the month of June 2020 and private property prices even surprised market analysts as it recorded an increase in 2nd Quarter of 2020 as reported in the news article.
Pent up demand drove monthly sales in June up by more than 100% to its highest ever in 2020. The strong surge in developer sales in June 2020 is not unexpected. This trend was observed in other countries as well. Many buyers were waiting on the sidelines waiting for the show galleries to be open to make their purchase. Some buyers see this relaxation of rules as a window of opportunity to buy their dream home in case measures are tightened again.
There could be up to 20 new launches (around 6,000 units) in 2H 2020 with Cairnhill 16 first to hit the road on 17th July, followed by Forett At Bukit Timah and Penrose. While the economy contracted by 12% in 2Q 2020, economists agreed that the worst is over and recovery is on the cards. The resilience in the market and property as an endearing asset class among investors will drive sales in the market. The market may see sales of between 8,000 and 8,500 units in 2020.
Pent up demand drove monthly sales in June up by more than 100% to its highest ever in 2020. The strong surge in developer sales in June 2020 is not unexpected. This trend was observed in other countries as well. Many buyers were waiting on the sidelines waiting for the show galleries to be open to make their purchase. Some buyers see this relaxation of rules as a window of opportunity to buy their dream home in case measures are tightened again.
There could be up to 20 new launches (around 6,000 units) in 2H 2020 with Cairnhill 16 first to hit the road on 17th July, followed by Forett At Bukit Timah and Penrose. While the economy contracted by 12% in 2Q 2020, economists agreed that the worst is over and recovery is on the cards. The resilience in the market and property as an endearing asset class among investors will drive sales in the market. The market may see sales of between 8,000 and 8,500 units in 2020.
Pent up demand in Singapore drove monthly new condo property sales in June up by more than 100% to its highest ever in 2020. Click on the image to find out more about the latest condo launches in Singapore
These projects are expected to be launched in the 2nd half of 2020:
The Landmark is located at 173 Chin Swee Road in RCR District 3 is an En Bloc development, formerly known as Landmark Tower. The Landmark is a 99-year condo project ZACD Group and MCC.
Myra is a condo located at 11 Meyappa Chettiar Road in the RCR District 13 region. Myra is an En Bloc Freehold condo project developed by Selangor Dredging Berhad.
Forett @ Bukit Timah is a freehold condo project situated at 46 Toh Tuck Road in the RCR region of District 21. Forett @ Bukit Timah is an En Bloc condo project formerly known as Goodluck Garden developed by Qingjian Realty.
Ki Residences is a beautiful 999 year condo development (almost freehold) located in Sunset Way at the RCR region of District 21. Ki Residences is an En Bloc condo development formerly known as Brookvale Park condo, a 999-year almost freehold condo project developed by Hoi Hup and Sunway.
The Linq @ Beauty World is freehold integrated condo situated in 110-122 Bukit Timah Road at the RCR region of District 21. The Linq @ Beauty World is an En Bloc condo project formerly known as Goh & Goh Mansions developed by BBR Holdings.
The Landmark is located at 173 Chin Swee Road in RCR District 3 is an En Bloc development, formerly known as Landmark Tower. The Landmark is a 99-year condo project ZACD Group and MCC.
Myra is a condo located at 11 Meyappa Chettiar Road in the RCR District 13 region. Myra is an En Bloc Freehold condo project developed by Selangor Dredging Berhad.
Forett @ Bukit Timah is a freehold condo project situated at 46 Toh Tuck Road in the RCR region of District 21. Forett @ Bukit Timah is an En Bloc condo project formerly known as Goodluck Garden developed by Qingjian Realty.
Ki Residences is a beautiful 999 year condo development (almost freehold) located in Sunset Way at the RCR region of District 21. Ki Residences is an En Bloc condo development formerly known as Brookvale Park condo, a 999-year almost freehold condo project developed by Hoi Hup and Sunway.
The Linq @ Beauty World is freehold integrated condo situated in 110-122 Bukit Timah Road at the RCR region of District 21. The Linq @ Beauty World is an En Bloc condo project formerly known as Goh & Goh Mansions developed by BBR Holdings.
Forett @ Bukit Timah is a rare freehold integrated-style condominium at Toh Tuck Road and only a short walk to Beauty World MRT Station. Click Image to Enjoy Direct Developer Early Bird Discount.
The Verdale is a 99 year leasehold condo situated in 2 De Souza Ave, off Jln Jurong Kechil in the RCR region of District 21 developed by CSC Land Group and COHL.
Clavon is a beautiful 99 year leasehold condo project in Clementi Ave situated in the OCR region in District 15 developed by the reputable UOL Group and UIC.
Tedge is a beautiful freehold condo project located at 328-334 Changi Road in the OCR area of District 15. Tedge is an En Bloc condo project formerly a row of shophouses to be developed by Macly Capital.
The Ryse Residences is a beautiful fully integrated condo development with a shopping mall, supermarket, hawker centre, eateries, amenities, bus interchange and Pasir Ris MRT all conveniently situated below the residential development located in Pasir Ris Central at District 18. The Ryse Residences is a 99-year leasehold condo project developed by Allgreen and Kerry Properties.
Hyll on Holland located on 95 Holland Road in the CCR area of District 10 is an En Bloc condo development formerly known as Hollandia and The Estoril. Hyll on Holland is a freehold condo project developed by Far East Consortium Properties and Koh Brothers.
To understand why residential condo properties remain resilient even during COVID, you may read the news analysis article here.
Clavon is a beautiful 99 year leasehold condo project in Clementi Ave situated in the OCR region in District 15 developed by the reputable UOL Group and UIC.
Tedge is a beautiful freehold condo project located at 328-334 Changi Road in the OCR area of District 15. Tedge is an En Bloc condo project formerly a row of shophouses to be developed by Macly Capital.
The Ryse Residences is a beautiful fully integrated condo development with a shopping mall, supermarket, hawker centre, eateries, amenities, bus interchange and Pasir Ris MRT all conveniently situated below the residential development located in Pasir Ris Central at District 18. The Ryse Residences is a 99-year leasehold condo project developed by Allgreen and Kerry Properties.
Hyll on Holland located on 95 Holland Road in the CCR area of District 10 is an En Bloc condo development formerly known as Hollandia and The Estoril. Hyll on Holland is a freehold condo project developed by Far East Consortium Properties and Koh Brothers.
To understand why residential condo properties remain resilient even during COVID, you may read the news analysis article here.
The Ryse Residences is a fully integrated condo with shopping mall, supermarket, hawker centre, community centre, eateries, amenities, bus interchange and Pasir Ris MRT all conveniently situated below the residential development in Pasir Ris Central. Click Image to Enjoy Direct Developer Early Bird Discount.
Phoenix Villas is a 99 year leasehold condo located at 5 Phoenix Walk in the OCR area in District 23. Phoenix Villas is an En Bloc condo project formerly known as Phoenix Heights developed by OKP Holdings.
77 @ East Coast is a freehold condo at 77 Upper East Coast Road in the OCR region in District 15. 77 @ East Coast is an En Bloc condo project formerly known as Lodge 77 developed by KDC (77) Development Pte Ltd.
Peak Residence is a freehold condo situated at 333 Thomson Road in the CCR region of District 11. Peak Residence is an En Bloc condo development formerly known as Peak Court to be developed by Tuan Sing Holdings and Rich Capital Holdings.
Cairnhill 16 is a beautiful freehold condo project at 16 Cairnhill Rise in the CCR region of District 9. Cairnhill 16 is an En Bloc condo project formerly known as Cairnhill Heights developed by Tiong Seng Holdings and Ocean Sky International.
Liv @ MB is a condo project sited at 114A Arthur Road in the RCR region in District 15. Liv @ MB is an En Bloc condo project formerly known as Katong Park Towers, a 99-year condo developed by Bukit Sembawang Estates.
Peak Residence located at 333 Thomson Road in CCR District 11 is an En Bloc development, formerly known as Peak Court. Peak Residence is a freehold condo project developed by Tuan Sing Holdings and Rich Capital Holdings.
One-North Gateway Residences is situated at One-North Gateway in the RCR District 5 region. One-North Gateway Residences is a 99-year leasehold project developed by TID Residential.
Real estate professional Kiwi Lim from Huttons Asia said "Choosing your dream home can be a headache, especially with the new challenges COVID brings". Find out how COVID may affect your decision making process when choosing your new home by reading this news article here.
77 @ East Coast is a freehold condo at 77 Upper East Coast Road in the OCR region in District 15. 77 @ East Coast is an En Bloc condo project formerly known as Lodge 77 developed by KDC (77) Development Pte Ltd.
Peak Residence is a freehold condo situated at 333 Thomson Road in the CCR region of District 11. Peak Residence is an En Bloc condo development formerly known as Peak Court to be developed by Tuan Sing Holdings and Rich Capital Holdings.
Cairnhill 16 is a beautiful freehold condo project at 16 Cairnhill Rise in the CCR region of District 9. Cairnhill 16 is an En Bloc condo project formerly known as Cairnhill Heights developed by Tiong Seng Holdings and Ocean Sky International.
Liv @ MB is a condo project sited at 114A Arthur Road in the RCR region in District 15. Liv @ MB is an En Bloc condo project formerly known as Katong Park Towers, a 99-year condo developed by Bukit Sembawang Estates.
Peak Residence located at 333 Thomson Road in CCR District 11 is an En Bloc development, formerly known as Peak Court. Peak Residence is a freehold condo project developed by Tuan Sing Holdings and Rich Capital Holdings.
One-North Gateway Residences is situated at One-North Gateway in the RCR District 5 region. One-North Gateway Residences is a 99-year leasehold project developed by TID Residential.
Real estate professional Kiwi Lim from Huttons Asia said "Choosing your dream home can be a headache, especially with the new challenges COVID brings". Find out how COVID may affect your decision making process when choosing your new home by reading this news article here.
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Read the latest on the Covid-19 situation in Singapore and beyond at The Straits Times
Huge pent up demand for residential property in Singapore saw buyers defying effects of Covid-19 circuit breaker measures and a recession to snap up private properties (new and resale).
Urban Redevelopment Authority (URA) on Friday (July 24) released final data reports that private home prices in Singapore edged up 0.3 per cent in the second quarter from the previous three months bucking the initial prediction from URA's flash estimate released on July 1 of a possible 1.1 per cent drop during 2nd quarter.
But analysts warned that a market recovery is far from certain as business closures, salary cuts and job losses will eventually take their toll in the months ahead. "This surprising turnaround was mainly due to pent-up demand in the later half of June as showflats were opened – with safe distancing precautions – as well as viewings being allowed under stringent conditions," said Mr Leonard Tay, head of research, Knight Frank Singapore.
For the first half of 2020, overall prices of private home dipped 0.7 per cent, a very mild decline considering the unprecedented pandemic and economic disruption," he noted. Developers launched 1,852 uncompleted private residential units excluding executive condominiums (ECs) for sale in Q2 2020, compared with 2,093 units in the previous quarter and sold 1,713 units (excluding ECs) in Q2, 20.3 per cent less than the 2,149 units taken up in the previous quarter.
To know why residential properties in Singapore remain resilient despite Covid, you may read the news analysis article here.
Urban Redevelopment Authority (URA) on Friday (July 24) released final data reports that private home prices in Singapore edged up 0.3 per cent in the second quarter from the previous three months bucking the initial prediction from URA's flash estimate released on July 1 of a possible 1.1 per cent drop during 2nd quarter.
But analysts warned that a market recovery is far from certain as business closures, salary cuts and job losses will eventually take their toll in the months ahead. "This surprising turnaround was mainly due to pent-up demand in the later half of June as showflats were opened – with safe distancing precautions – as well as viewings being allowed under stringent conditions," said Mr Leonard Tay, head of research, Knight Frank Singapore.
For the first half of 2020, overall prices of private home dipped 0.7 per cent, a very mild decline considering the unprecedented pandemic and economic disruption," he noted. Developers launched 1,852 uncompleted private residential units excluding executive condominiums (ECs) for sale in Q2 2020, compared with 2,093 units in the previous quarter and sold 1,713 units (excluding ECs) in Q2, 20.3 per cent less than the 2,149 units taken up in the previous quarter.
To know why residential properties in Singapore remain resilient despite Covid, you may read the news analysis article here.
Prices of new launch condos are increasing all across Singapore in spite of Covid pandemic as supply of new condos are expected to reduce in the near future. Even Parc Esta recently just increased its prices.
Seventeen new residential projects with a total of 5,243 units will be ready for launch in the next 6 to 9 months with about three quarters of these units located in the prime or core central region, which is a significantly higher proportion than that launched in 2019. Last year, 54.7 per cent of the units launched were in the core central region. This would contribute to a higher percentage of more expensive properties being transacted in the primary market, and help support prices.
For the second quarter, prices of non-landed properties rose 0.4 per cent from the previous three months, compared with the 1 per cent drop in the previous quarter.
Giving a breakdown by region, the URA said that prices of non-landed properties in the core central region jumped 2.7 per cent in Q2, compared with the 2.2 per cent drop in the previous quarter. Prices of non-landed properties in the city fringe or rest of central region fell 1.7 per cent, compared with the 0.5 per cent fall in the previous quarter.
Prices in the suburbs or outside central region edged up 0.1 per cent, compared with the 0.4 per cent fall in the previous quarter while prices of landed properties remained unchanged in the second quarter of this year, after dipping 0.9 per cent in the first quarter.
To find out how COVID affects home buyer's decision making process when choosing their dream home, you may read the news analysis article here.
For the second quarter, prices of non-landed properties rose 0.4 per cent from the previous three months, compared with the 1 per cent drop in the previous quarter.
Giving a breakdown by region, the URA said that prices of non-landed properties in the core central region jumped 2.7 per cent in Q2, compared with the 2.2 per cent drop in the previous quarter. Prices of non-landed properties in the city fringe or rest of central region fell 1.7 per cent, compared with the 0.5 per cent fall in the previous quarter.
Prices in the suburbs or outside central region edged up 0.1 per cent, compared with the 0.4 per cent fall in the previous quarter while prices of landed properties remained unchanged in the second quarter of this year, after dipping 0.9 per cent in the first quarter.
To find out how COVID affects home buyer's decision making process when choosing their dream home, you may read the news analysis article here.
Clavon Condo is a new condominium by UOL near to Nan Hua High School, NUS, Singapore Polytechnic, international schools within 2 km and within minutes to Clementi MRT & Clementi Central. Book appointment now.
Rental volume dipped below 20,000 in the second quarter, marking the first time since Q4 2017 that rental volume fell below 20,000 possibly due to foreigners returning to their home countries, travel restrictions and border closures. The bulk of the rental volume seems to be renewals as many tenants chose to renew their contracts, due in part to the difficulty arranging house movers.
Developers did not launch any EC units for sale in the second quarter, and sold 71 EC units in the quarter. In comparison, they launched 1,044 EC units and sold 590 EC units in the previous quarter.
As at the end of Q2, there was a total supply of 49,090 uncompleted private residential units (excluding ECs) in the pipeline with planning approvals, compared with 48,868 units in the previous quarter. Of this number, 27,977 units or more than half remained unsold as at the end of Q2, compared with the 29,149 units in the previous quarter.
After adding the supply of 3,613 EC units in the pipeline, there were 52,703 units in the pipeline with planning approvals. Of the EC units in the pipeline, 1,899 remain unsold. In total, 29,876 units with planning approvals (including ECs) remain unsold, down from 31,099 units in the previous quarter.
"The crisis won't last forever; it will pass. So what home buyers are doing now is to prepare for the future, so that when the pandemic is finally over, they can continue their asset progression plans." said real estate professional Kiwi Lim from Huttons Asia.
Developers did not launch any EC units for sale in the second quarter, and sold 71 EC units in the quarter. In comparison, they launched 1,044 EC units and sold 590 EC units in the previous quarter.
As at the end of Q2, there was a total supply of 49,090 uncompleted private residential units (excluding ECs) in the pipeline with planning approvals, compared with 48,868 units in the previous quarter. Of this number, 27,977 units or more than half remained unsold as at the end of Q2, compared with the 29,149 units in the previous quarter.
After adding the supply of 3,613 EC units in the pipeline, there were 52,703 units in the pipeline with planning approvals. Of the EC units in the pipeline, 1,899 remain unsold. In total, 29,876 units with planning approvals (including ECs) remain unsold, down from 31,099 units in the previous quarter.
"The crisis won't last forever; it will pass. So what home buyers are doing now is to prepare for the future, so that when the pandemic is finally over, they can continue their asset progression plans." said real estate professional Kiwi Lim from Huttons Asia.
Top selling condo projects in the market is also seeing their unsold supply of condo units dwindling.
From Straits Times article on 24 July 2020
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Property is a relatively illiquid asset class and the capital outlay is significant. Buyers must be able to ride out market downturns, and for those able to do so, the returns have proven to be attractive.
For instance, during the past crises, the URA's private residential property price index fell by as much as 37 per cent during the Asian Financial Crisis but rebounded by 40 per cent within six quarters. Prices are often sticky on the way down as owners hold on to asking prices until volume has dropped significantly over a period of time. On the contrary, the rebound can be swift.
For instance, during the past crises, the URA's private residential property price index fell by as much as 37 per cent during the Asian Financial Crisis but rebounded by 40 per cent within six quarters. Prices are often sticky on the way down as owners hold on to asking prices until volume has dropped significantly over a period of time. On the contrary, the rebound can be swift.
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So how should potential buyers go about their decision-making during & post COVID?
Location. The tenet for buying property has not changed - location - but with a new perspective. Where location was previously confined to the prime districts, the concept of location has evolved. Although a prime location remains desirable, lifestyle amenities - for example, proximity to the riverside or F&B amenities have also come to the fore as convenience becomes the new currency.
Following the pandemic, the pace of decentralisation of business activities, supported by a wider variety of amenities, will gain momentum as more companies adopt a hub-and-spoke model with headquarters in the CBD and branch offices in decentralised locations.
Accessibility & connectivity. Singapore has become more accessible as the MRT and bus networks and neighbouring amenities continue to expand, supported by alternative modes of transport. By 2040, Singapore will be a 45-Minute City with 20-Minute Towns. All journeys to the nearest neighbourhood centre - whether by walking, cycling or riding - will take less than 20 minutes. Some nine in 10 of these peak-hour trips will be completed within 45 minutes.
Jobs will also be closer to homes as business activities continue to decentralise. This will make living away from the city centre increasingly attractive. As MRT stations become more prevalent, properties near interchange stations will command a premium as accessibility and connectivity in terms of time (instead of physical distance) become the criteria for decision-making.
Find out why is the residential market in Singapore so resilient in spite of the COVID pandemic by reading the news analysis article here.
Location. The tenet for buying property has not changed - location - but with a new perspective. Where location was previously confined to the prime districts, the concept of location has evolved. Although a prime location remains desirable, lifestyle amenities - for example, proximity to the riverside or F&B amenities have also come to the fore as convenience becomes the new currency.
Following the pandemic, the pace of decentralisation of business activities, supported by a wider variety of amenities, will gain momentum as more companies adopt a hub-and-spoke model with headquarters in the CBD and branch offices in decentralised locations.
Accessibility & connectivity. Singapore has become more accessible as the MRT and bus networks and neighbouring amenities continue to expand, supported by alternative modes of transport. By 2040, Singapore will be a 45-Minute City with 20-Minute Towns. All journeys to the nearest neighbourhood centre - whether by walking, cycling or riding - will take less than 20 minutes. Some nine in 10 of these peak-hour trips will be completed within 45 minutes.
Jobs will also be closer to homes as business activities continue to decentralise. This will make living away from the city centre increasingly attractive. As MRT stations become more prevalent, properties near interchange stations will command a premium as accessibility and connectivity in terms of time (instead of physical distance) become the criteria for decision-making.
Find out why is the residential market in Singapore so resilient in spite of the COVID pandemic by reading the news analysis article here.
The Ryse Residences is an upcoming integrated condo project in Pasir Ris Central situated on top of Pasir Ris MRT station, Pasir Ris Bus Interchange, Shopping Centre, eateries, amenities, supermarket, etc.
Growth areas. As Singapore continues to decentralise, there will be new employment areas - for example, Jurong Lake District, Jurong Innovation District, Woodlands Regional Centre and Punggol Digital District, with ready accessibility to/from other activity nodes and residential areas, facilitated by the Jurong Regional Line, Thomson-East Coast Line and North East Line extension.
Neighbourhoods near learning institutes such as universities often command a premium as they anchor a cluster of knowledge-driven businesses that will in turn catalyse other activities. The presence of an institute of higher learning will also have a positive impact on the profile of the residents and amenities.
Park connectors, parks and nature reserves. Proximity to nature has a positive impact on our physical, mental and emotional health. Our 150-km Round-Island-Route which integrates with the park connectors, connects natural, cultural, historical and recreational sites, thereby creating myriad opportunities for a variety of recreational activities. More residents are exercising and taking to the outdoors. Meanwhile, Singapore's population is ageing. The current median age of 42.2 years is expected to increase to 53.4 years by 2050.
It is estimated that 12.4 per cent of our population in 2019 was 65 years and above and this will grow to 22.5 per cent in 2030 and 33.3 per cent in 2050. Even as seniors place more emphasis on outdoor activities, Covid-19 has also raised the awareness of health and wellness to a new level. As such, the demand for properties located near park connectors, parks and nature reserves will increase.
Health & wellness. This pandemic has made us rethink real estate including how space is to be used. Our homes have become our workplace, classroom, entertainment venue, exercise studio and playground. Going forward, we could find more households spending time at home.
The global trend towards a gig economy as well as more seniors working part-time is leading to a paradigm shift in the design of homes. For example, attention is now turned towards providing more light, cross ventilation, improving fresh air intake, views and creating dedicated or flexible space incorporating touchless design and technology to promote the well-being of those using the home for different activities. Indeed, the healthy building movement is gaining pace, as its role in public health becomes more apparent with practical designs that help communities lead healthy and active lifestyles both within and outside of our homes.
"I am confident the global economy, which is expected to fall into recession this year, and markets will continue to recover" says Singapore's property analyst Kiwi Lim from Huttons Asia who believes that the global economy is entering a multi-year recovery with some bumps along the way.
Private property prices increased 0.3% in 2nd Quarter of 2020 in spite of COVID pandemic. Read the news article here.
Neighbourhoods near learning institutes such as universities often command a premium as they anchor a cluster of knowledge-driven businesses that will in turn catalyse other activities. The presence of an institute of higher learning will also have a positive impact on the profile of the residents and amenities.
Park connectors, parks and nature reserves. Proximity to nature has a positive impact on our physical, mental and emotional health. Our 150-km Round-Island-Route which integrates with the park connectors, connects natural, cultural, historical and recreational sites, thereby creating myriad opportunities for a variety of recreational activities. More residents are exercising and taking to the outdoors. Meanwhile, Singapore's population is ageing. The current median age of 42.2 years is expected to increase to 53.4 years by 2050.
It is estimated that 12.4 per cent of our population in 2019 was 65 years and above and this will grow to 22.5 per cent in 2030 and 33.3 per cent in 2050. Even as seniors place more emphasis on outdoor activities, Covid-19 has also raised the awareness of health and wellness to a new level. As such, the demand for properties located near park connectors, parks and nature reserves will increase.
Health & wellness. This pandemic has made us rethink real estate including how space is to be used. Our homes have become our workplace, classroom, entertainment venue, exercise studio and playground. Going forward, we could find more households spending time at home.
The global trend towards a gig economy as well as more seniors working part-time is leading to a paradigm shift in the design of homes. For example, attention is now turned towards providing more light, cross ventilation, improving fresh air intake, views and creating dedicated or flexible space incorporating touchless design and technology to promote the well-being of those using the home for different activities. Indeed, the healthy building movement is gaining pace, as its role in public health becomes more apparent with practical designs that help communities lead healthy and active lifestyles both within and outside of our homes.
"I am confident the global economy, which is expected to fall into recession this year, and markets will continue to recover" says Singapore's property analyst Kiwi Lim from Huttons Asia who believes that the global economy is entering a multi-year recovery with some bumps along the way.
Private property prices increased 0.3% in 2nd Quarter of 2020 in spite of COVID pandemic. Read the news article here.
Above is extracted from Business Times
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