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Sales of new private homes rebounded last month, marking the strongest January showing in seven years. URA reported that developers sold 618 homes - excluding executive condominiums - last month, 14.9 per cent higher than the 538 units sold in the preceding month, data from the Urban Redevelopment Authority (URA) showed on 17 Feb 2020 (Monday).
This was also 41.4 per cent more than the 437 units sold over the same period last year. Last month registered the highest January new private home sales in seven years.
This was also 41.4 per cent more than the 437 units sold over the same period last year. Last month registered the highest January new private home sales in seven years.
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Including executive condominiums, 638 units were sold, a 45.7 per cent increase over the 438 units sold in January 2019 and a 15.8 per cent increase on the 551 homes sold last December.
January 2020's sales take-up was led by projects in the city fringes or rest of central region (RCR), which accounted for 41.9 per cent (259 units) of total sales excluding executive condominiums followed by the surburban areas or outside central region (OCR), at 36.6 per cent (226 units).
The proportion of sales in the luxury segment or core central region (CCR) rose to its highest level since January 2019 at 21.5 per cent (133 units). This could be attributed to more high-end projects launched in January, she said, including The Avenir, Leedon Green and Van Holland, which collectively sold 74 units last month.
January 2020's sales take-up was led by projects in the city fringes or rest of central region (RCR), which accounted for 41.9 per cent (259 units) of total sales excluding executive condominiums followed by the surburban areas or outside central region (OCR), at 36.6 per cent (226 units).
The proportion of sales in the luxury segment or core central region (CCR) rose to its highest level since January 2019 at 21.5 per cent (133 units). This could be attributed to more high-end projects launched in January, she said, including The Avenir, Leedon Green and Van Holland, which collectively sold 74 units last month.
Even within a "tumultuous" economic climate the number of foreign buyers entering the private property market in the CCR segment has remained stable. The segment saw a 32.3 per cent month-on-month increase of new private homes purchased by foreigners. On a month-on-month basis, the overall volume of CCR transactions increased by 60.2 per cent.
So far there seems to have been "no major impact" on the property market from the COVID-19 outbreak. Property buyers will be "realistic, prudent and highly selective" as the disease dampens global economies, affecting job stability and "longer term mortagage servicing capabilities by Singaporeans with limited affordability".
Real estate powerhouse Huttons Asia's Kiwi Lim believes that Singapore's property market can withstand the impact of Covid-19 because the Singapore government has built further resilience since the Sars outbreak through efforts to diversify the economy.
When the storm calms, the tide of the market re-emerges with pent-up demand from buyers and investors. With the Government potentially announcing measures during the financial Budget to assist affected sectors and the resilient nature of the real estate market, we are likely expect(ing) new home sales volume to reach 9,000 to 10,000 units this year.
So far there seems to have been "no major impact" on the property market from the COVID-19 outbreak. Property buyers will be "realistic, prudent and highly selective" as the disease dampens global economies, affecting job stability and "longer term mortagage servicing capabilities by Singaporeans with limited affordability".
Real estate powerhouse Huttons Asia's Kiwi Lim believes that Singapore's property market can withstand the impact of Covid-19 because the Singapore government has built further resilience since the Sars outbreak through efforts to diversify the economy.
When the storm calms, the tide of the market re-emerges with pent-up demand from buyers and investors. With the Government potentially announcing measures during the financial Budget to assist affected sectors and the resilient nature of the real estate market, we are likely expect(ing) new home sales volume to reach 9,000 to 10,000 units this year.
The M at Middle Road by Wing Tai Holdings is a brand new mixed development in the centre of Rochor area at D07
Source from Channelnewsasia's online article on 17th Feb 2020
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A strong turnout was seen at the soft launch of The M at Bugis - Photo: Wing Tai Asia
Despite the current COVID-19 coronavirus outbreak, home buyers still could not resist this rare super attractively priced condo project in District 07 in the heart of Bugis. The M attracted over 2,000 potential home buyers during the first weekend of its soft launch on 15 February 2020 at its beautifully done showflat in Bugis.
The M is a 522-unit, private mixed condominium project on Middle Road in District 07 Bugis district that surprised many market analysts as it drew more than 2,000 prospective buyers flocking to view this beautiful project as market analysts has expected the demand for new property launches to be severely dampened due to the COVID-19 outbreak that started from China and now had spread globally.
Interested home buyers were mostly locals in their 30s and 40s, who were drawn to the prime location of the project within the Ophir Rochor Corridor.
Developed by Wing Tai Asia, the 522-unit residential commercial project at Middle Road comprises a mix of studio and one- to three-bedroom units, with sizes ranging between 409 sq ft and 904 sq ft. To cater to the changing lifestyle needs of young professionals, the studio and one-bedroom units feature a novel live-work design concept, which allows the living areas to be transformed into workspaces.
Prices for studio units start from just below $1 million, from $1 million for one-bedders and from $1.1 million for one plus study units. Meanwhile, the two-bedrooms, two-bedroom plus study units and three-bedroom dual-key units are priced from $1.3 million, $1.6 million and $2 million respectively.
The M is a 522-unit, private mixed condominium project on Middle Road in District 07 Bugis district that surprised many market analysts as it drew more than 2,000 prospective buyers flocking to view this beautiful project as market analysts has expected the demand for new property launches to be severely dampened due to the COVID-19 outbreak that started from China and now had spread globally.
Interested home buyers were mostly locals in their 30s and 40s, who were drawn to the prime location of the project within the Ophir Rochor Corridor.
Developed by Wing Tai Asia, the 522-unit residential commercial project at Middle Road comprises a mix of studio and one- to three-bedroom units, with sizes ranging between 409 sq ft and 904 sq ft. To cater to the changing lifestyle needs of young professionals, the studio and one-bedroom units feature a novel live-work design concept, which allows the living areas to be transformed into workspaces.
Prices for studio units start from just below $1 million, from $1 million for one-bedders and from $1.1 million for one plus study units. Meanwhile, the two-bedrooms, two-bedroom plus study units and three-bedroom dual-key units are priced from $1.3 million, $1.6 million and $2 million respectively.
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The M is very conveniently located within 3 mins walk to Bugis MRT and 4 mins walk to National Library, Suntec City & Convention Centre
Precautionary measures have put in place by reputable developer Wing Tai Holdings to ensure that showflat visitors are protected including temperature checks, hand sanitisers, hourly cleaning of the showflat by specially trained cleaners, contact tracing forms as well as limiting to only 200 individuals in the showflat at any one point in time.
Real estate agency, Huttons Asia's Kiwi Lim is not surprised by the turnout: "the expected price range of The M is very very attractive compared to other condo projects elsewhere and residential condo projects in District 07 in Bugis are very prime and very rare. This goes to show that Singaporean will always have an appetite for good quality property in excellent location and Singaporean investors know a good property when they see one - obviously in this case, it's The M.”
The project’s sales gallery is situated at the junction of Selegie Road and Middle Road, a short distance from The M’s location. You may visit the website for more information on The M.
Real estate agency, Huttons Asia's Kiwi Lim is not surprised by the turnout: "the expected price range of The M is very very attractive compared to other condo projects elsewhere and residential condo projects in District 07 in Bugis are very prime and very rare. This goes to show that Singaporean will always have an appetite for good quality property in excellent location and Singaporean investors know a good property when they see one - obviously in this case, it's The M.”
The project’s sales gallery is situated at the junction of Selegie Road and Middle Road, a short distance from The M’s location. You may visit the website for more information on The M.
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Forett at Bukit Timah is a rare upcoming freehold new condo located along Toh Tuck Road, formerly known as Goodluck Garden within a short walk to Beauty World MRT
Against the backdrop of the cooling measures and the uncertain economic climate, crossing the 10,000 mark is commendable and shows the resilience of Singapore's property market.
Owners selling up in the public housing sector to buy in the private market gave a much-needed boost as 10,104 units were sold in 2019 - 14.9 per cent more than the 8,795 transacted in 2018 with 6 of the top 10 selling projects in 2019 being in the outside central region (OCR), with the remainder in the rest of central region (RCR). Usually, demand for OCR region mostly come from HDB upgraders, especially with the HDB resale market pricing bottoming out in 2019, HDB owners will likely sell their HDBs to buy private properties / condos in 2020 as an asset appreciation plan.
Developers sold 2,635 units in the fourth quarter of 2019, which is a 43.5 per cent surge from the 1,836 homes moved in the same quarter in 2018, as shown in Urban Redevelopment Authority's data published on 15 Jan 2020.
Huttons Asia's Kiwi Lim estimated around 30 new private apt / condo launches have been lined up for the first half of 2020, with about half in the core central region (prime districts) and the rest evenly spread between the rest of the central region or city fringes and the outside of central region. Top-selling projects last month included Parc Botannia, with 49 units sold at a median price of $1,345 per square foot (psf); Parc Esta, with 45 units sold at $1,666 psf; and Parc Clematis, with 40 sold at $1,638 psf. Demand for new homes is expected to stay strong with prices rising by 2 to 4 per cent in 2020.
Owners selling up in the public housing sector to buy in the private market gave a much-needed boost as 10,104 units were sold in 2019 - 14.9 per cent more than the 8,795 transacted in 2018 with 6 of the top 10 selling projects in 2019 being in the outside central region (OCR), with the remainder in the rest of central region (RCR). Usually, demand for OCR region mostly come from HDB upgraders, especially with the HDB resale market pricing bottoming out in 2019, HDB owners will likely sell their HDBs to buy private properties / condos in 2020 as an asset appreciation plan.
Developers sold 2,635 units in the fourth quarter of 2019, which is a 43.5 per cent surge from the 1,836 homes moved in the same quarter in 2018, as shown in Urban Redevelopment Authority's data published on 15 Jan 2020.
Huttons Asia's Kiwi Lim estimated around 30 new private apt / condo launches have been lined up for the first half of 2020, with about half in the core central region (prime districts) and the rest evenly spread between the rest of the central region or city fringes and the outside of central region. Top-selling projects last month included Parc Botannia, with 49 units sold at a median price of $1,345 per square foot (psf); Parc Esta, with 45 units sold at $1,666 psf; and Parc Clematis, with 40 sold at $1,638 psf. Demand for new homes is expected to stay strong with prices rising by 2 to 4 per cent in 2020.
Part of a larger mixed-use development known as One Holland Village, One Holland Village Residences comprises three types of units: Sereen, Leven and Quincy Private Residences
Rents for both non-landed private homes and Housing Board flats rose in December last year from the year before, even as the number of rented condominium and private apartment units, and HDB homes, rose for the whole of 2019.
Flash data from real estate portal SRX Property on 15 Jan 2020 showed that overall condominium and private apartment rents rose 3.7 per cent in December 2019 from a year ago, although rents last month decreased 0.9 per cent from November. Figures in December 2019 are 16.6 per cent below their peak in January 2013. Year on year, non-landed private home rents were up in all areas last month: the prime or core central region rose by 3.9 per cent, the city fringe of rest of central region by 4 per cent, and in the suburbs or outside central region by 3.1 per cent.
For non-landed private home rental transactions, there were 58,236 homes leased for the whole of 2019, 2.3 per cent more than a year ago. In December alone, 1.2 per cent more private non-landed units were rented than the year before.
Over in the public housing market, HDB rents in December last year increased 1.3 per cent from a year ago. December's rents also inched up by 0.1 per cent from November. However, compared to the peak in August 2013, December's HDB rents are still down by 14.3 per cent. SRX data showed that while three-room flat rents fell 0.3 per cent in December compared with the year before, rents in other flat types rose: four-room flat rents rose by 2.1 per cent, rents for five-room units rose 1.3 per cent, and that for executive condominium flats rose 1.4 per cent. These price changes come on the back of more flats rented, as the number of HDB flats leased for the whole of last year hit 23,958, 1.9 per cent higher than 2018. Still, last month's overall HDB rental volumes fell 5.3 per cent compared with December 2018.
Flash data from real estate portal SRX Property on 15 Jan 2020 showed that overall condominium and private apartment rents rose 3.7 per cent in December 2019 from a year ago, although rents last month decreased 0.9 per cent from November. Figures in December 2019 are 16.6 per cent below their peak in January 2013. Year on year, non-landed private home rents were up in all areas last month: the prime or core central region rose by 3.9 per cent, the city fringe of rest of central region by 4 per cent, and in the suburbs or outside central region by 3.1 per cent.
For non-landed private home rental transactions, there were 58,236 homes leased for the whole of 2019, 2.3 per cent more than a year ago. In December alone, 1.2 per cent more private non-landed units were rented than the year before.
Over in the public housing market, HDB rents in December last year increased 1.3 per cent from a year ago. December's rents also inched up by 0.1 per cent from November. However, compared to the peak in August 2013, December's HDB rents are still down by 14.3 per cent. SRX data showed that while three-room flat rents fell 0.3 per cent in December compared with the year before, rents in other flat types rose: four-room flat rents rose by 2.1 per cent, rents for five-room units rose 1.3 per cent, and that for executive condominium flats rose 1.4 per cent. These price changes come on the back of more flats rented, as the number of HDB flats leased for the whole of last year hit 23,958, 1.9 per cent higher than 2018. Still, last month's overall HDB rental volumes fell 5.3 per cent compared with December 2018.
A version of this article appeared in the print edition of The Straits Times on 16 Jan, 2020, with the headline 'New private home sales up almost 15%, thanks to HDB upgraders' and Business Times article on 15 Jan, 2020, with the headline 'Rents for private non-landed homes and HDB flats rise in December 2019 from a year ago'
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STB finds MC liable as defect was due to moisture entering roof slab at Mandalay Mansion - Straits Times
A condominium's management corporation (MC) has been held liable for the false ceiling of a penthouse collapsing due to the weight of spalling concrete that had accumulated on it and ordered to pay its owner $85,000 in damages, costs and disbursements.
The Strata Titles Board (STB) also ordered the MC of Mandalay Mansion, sited off Balestier Road, to repair the damage in the penthouse at its own cost. In addition, the MC has to hire a contractor registered with the Building and Construction Authority (BCA) to do the work, and a Qualified Person has to prescribe the repairs as well as certify their completion.
The Qualified Person was to be jointly engaged by the MC and the unit owner - at the MC's cost - to prepare a report that assesses the water tightness in the roof of the building and the presence of moisture in the roof slab, as well as recommend remedial works. The report is to be ready by Jan 17 this year.
The incident that led to the case took place in August 2018, when a part of the false ceiling in Madam Edna Kong's second living room collapsed together with the spalling concrete. Three people were injured and the police, an ambulance and the BCA were called. The following month, the BCA issued a notice that required both parties to conduct inspections and report their findings and recommendations to the authority.
The Strata Titles Board (STB) also ordered the MC of Mandalay Mansion, sited off Balestier Road, to repair the damage in the penthouse at its own cost. In addition, the MC has to hire a contractor registered with the Building and Construction Authority (BCA) to do the work, and a Qualified Person has to prescribe the repairs as well as certify their completion.
The Qualified Person was to be jointly engaged by the MC and the unit owner - at the MC's cost - to prepare a report that assesses the water tightness in the roof of the building and the presence of moisture in the roof slab, as well as recommend remedial works. The report is to be ready by Jan 17 this year.
The incident that led to the case took place in August 2018, when a part of the false ceiling in Madam Edna Kong's second living room collapsed together with the spalling concrete. Three people were injured and the police, an ambulance and the BCA were called. The following month, the BCA issued a notice that required both parties to conduct inspections and report their findings and recommendations to the authority.
Both parties separately appointed engineers to undertake the tasks to comply with the notice.
The engineer that the unit owner engaged had concluded that the most probable cause of the spalling concrete was the presence of moisture due to ineffective waterproofing of the roof, which was common property and part of the MC's duty to maintain.
The MC blamed the unit owner for the collapse, saying Madam Kong failed to address the issue of spalling concrete from the false ceiling installed by the previous owner, when she carried out works on the penthouse in 2012.
The board, after considering the submissions and hearings, found there was evidence of moisture in the concrete roof slab located immediately above Madam Kong's living room which had the false ceiling. It held the MC liable since the defect was from the roof slab. The STB also said that the MC "had not discharged the burden of showing the collapse of the false ceiling was a result of the false ceiling works in 2012". STB made clear that the MC is required under the law to maintain and repair the roof slab.
STB also noted that the MC had not provided a complete set of repair and/ or maintenance works carried out on the rooftop for the past five years, save for selective waterproofing works done in 2018. It further ordered the MC to pay $1,200 in STB fees for four arbitration hearings held last year and to reimburse the $500 application fee and costs of transcription services to Madam Kong.
The engineer that the unit owner engaged had concluded that the most probable cause of the spalling concrete was the presence of moisture due to ineffective waterproofing of the roof, which was common property and part of the MC's duty to maintain.
The MC blamed the unit owner for the collapse, saying Madam Kong failed to address the issue of spalling concrete from the false ceiling installed by the previous owner, when she carried out works on the penthouse in 2012.
The board, after considering the submissions and hearings, found there was evidence of moisture in the concrete roof slab located immediately above Madam Kong's living room which had the false ceiling. It held the MC liable since the defect was from the roof slab. The STB also said that the MC "had not discharged the burden of showing the collapse of the false ceiling was a result of the false ceiling works in 2012". STB made clear that the MC is required under the law to maintain and repair the roof slab.
STB also noted that the MC had not provided a complete set of repair and/ or maintenance works carried out on the rooftop for the past five years, save for selective waterproofing works done in 2018. It further ordered the MC to pay $1,200 in STB fees for four arbitration hearings held last year and to reimburse the $500 application fee and costs of transcription services to Madam Kong.
Source: Straits Times © article
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GLS land plot at Irwell Bank Road - Straits Times
The URA closed two government land tenders on Thursday – for a residential site at Irwell Bank Road, off River Valley Road, as well as a residential site at Jalan Bunga Rampai in the Bartley area. The URA will announce its decision on the award of the tenders at a later date, after the tender bids have been evaluated.
The 137,632.6 sq ft site at Irwell Bank Road is in prime District 9 and has a maximum gross floor area of 385,379.9 sq ft. The new development is expected to yield about 445 units. The site is close to the upcoming Great World MRT Station on the Thomson-East Coast Line, Great World City shopping mall, and the Orchard Road shopping belt.
This government land sales (GLS) site attracted a total of seven bids. The highest bid of $583.9 million was submitted by CDL Perseus, a subsidiary of City Developments (CDL). This translates to $1,515 psf per plot ratio (ppr). The bid is 4.2% higher than the second highest bid of $560.1 million, which was made jointly by Far East Civil Engineering, Well Oasis, and Sekisui House.
According to Nicholas Mak, head of research and consultancy at ERA Realty, bidders displayed strong confidence in the site’s attributes, despite the fact that there are 16 upcoming new launches in the Core Central Region, with some 2,600 units that could be launched this year.
“The median transacted prices of 99-year leasehold condo in the vicinity range between $2,680 psf and $2,860 psf. With a land rate of $1,515 psf ppr for the Irwell Bank Road site, the developer could earn a reasonable profit if the future condo on this site is launched at the current condo prices,” says Mak.
The 137,632.6 sq ft site at Irwell Bank Road is in prime District 9 and has a maximum gross floor area of 385,379.9 sq ft. The new development is expected to yield about 445 units. The site is close to the upcoming Great World MRT Station on the Thomson-East Coast Line, Great World City shopping mall, and the Orchard Road shopping belt.
This government land sales (GLS) site attracted a total of seven bids. The highest bid of $583.9 million was submitted by CDL Perseus, a subsidiary of City Developments (CDL). This translates to $1,515 psf per plot ratio (ppr). The bid is 4.2% higher than the second highest bid of $560.1 million, which was made jointly by Far East Civil Engineering, Well Oasis, and Sekisui House.
According to Nicholas Mak, head of research and consultancy at ERA Realty, bidders displayed strong confidence in the site’s attributes, despite the fact that there are 16 upcoming new launches in the Core Central Region, with some 2,600 units that could be launched this year.
“The median transacted prices of 99-year leasehold condo in the vicinity range between $2,680 psf and $2,860 psf. With a land rate of $1,515 psf ppr for the Irwell Bank Road site, the developer could earn a reasonable profit if the future condo on this site is launched at the current condo prices,” says Mak.
GLS land plot in Bartley - Straits Times
Meanwhile, the GLS site at Jalan Bunga Rampai attracted nine bids, and the highest was $93.39 million by Wee Hur Development. This translates to $885 psf ppr. It was followed by Sim Lian Land which submitted an $80.1 million bid.
Huttons Asia real estate professional Kiwi Lim believes there should be pent up demand for Bartley as it has been six years since the last GLS non-landed residential site was sold within the Bartley Road vicinity.
The Lilium and The Gazania, new developments by SingHaYi Group, are 600m away from the GLS site. According to URA data, in 2H2019, their median transacted prices were $2,134 psf and $2,227 psf, respectively.
Huttons Asia real estate professional Kiwi Lim believes there should be pent up demand for Bartley as it has been six years since the last GLS non-landed residential site was sold within the Bartley Road vicinity.
The Lilium and The Gazania, new developments by SingHaYi Group, are 600m away from the GLS site. According to URA data, in 2H2019, their median transacted prices were $2,134 psf and $2,227 psf, respectively.
From Business Times Article published on 9 Jan 2020
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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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Highest September new private home sales in 7 years -strong residential property demand in Singapore
New private home sales enjoyed their best September in seven years, while reaching heights not seen since the cooling measures were imposed in July last year with nearly 60 per cent of last month's sales being in the city fringe, known in the industry as the rest of central region.
Sales of private homes by developers in Singapore rose 36.3 per cent year-on-year in September, official data showed on Tuesday (Oct 15). The sales surge - 1,270 new private homes were sold, up 13 per cent from August, excludes executive condominiums, compared with the 932 units sold in the same month a year earlier.
City-fringe residential condo projects attracted buyers like cats to catnip for Avenue South Residence, Meyer Mansion, etc.
Sales of private homes by developers in Singapore rose 36.3 per cent year-on-year in September, official data showed on Tuesday (Oct 15). The sales surge - 1,270 new private homes were sold, up 13 per cent from August, excludes executive condominiums, compared with the 932 units sold in the same month a year earlier.
City-fringe residential condo projects attracted buyers like cats to catnip for Avenue South Residence, Meyer Mansion, etc.
Avenue South Residence is a quality residential condo developed by UOL along Silat Avenue, comprising 56-storey twin towers. Capitalise on The Greater Southern Waterfront 1st mover advantage
In 3Q19, 3,572 private residential units were sold by developers or about 19 per cent higher than in 3Q18 and the highest quarterly sales volume of private homes since 2Q13 when the TDSR (total debt service ratio) was imposed.
The introduction of the TDSR, which in effect curtailed the amount people could borrow to buy a property, saw the private property price index dip by 3.5 per cent in 2014.
Flash estimates released by URA earlier this month showed the private residential property index increasing 0.9 per cent in the third quarter of 2019 compared to the 1.5 per cent increase in the previous quarter. Singapore also saw real estate investment sales soar 150 percent to $16.74 billion in the third quarter of 2019 from $6.7 billion in the previous quarter. The figure was also 49 percent higher than the $11.24 billion combined volume for the first and second quarter of 2019.
The introduction of the TDSR, which in effect curtailed the amount people could borrow to buy a property, saw the private property price index dip by 3.5 per cent in 2014.
Flash estimates released by URA earlier this month showed the private residential property index increasing 0.9 per cent in the third quarter of 2019 compared to the 1.5 per cent increase in the previous quarter. Singapore also saw real estate investment sales soar 150 percent to $16.74 billion in the third quarter of 2019 from $6.7 billion in the previous quarter. The figure was also 49 percent higher than the $11.24 billion combined volume for the first and second quarter of 2019.
Meyer Mansion’s rare location combines the laidback charm of the East Coast whilst being perched right at the edge of the city combining luxury living and modern tropical architecture to create a new architectural benchmark.
Buyers snapped up units at the new launch of Avenue South Residence, with 361 units at $1,941 psf, and robust sales at various projects that were launched earlier. A number of new projects were also launched last month including Meyer Mansion which also attracted buyer's attention.
The proportion of new home sales in the Rest of Central Region (RCR) is 58.7%, up from 27.1% in the previous month. Furthermore, URA Realis data stated that the number of property purchased by Singaporeans rose 29.3 % to 1,078 units in September from 834 units in August.
Huttons Asia real estate advisor Kiwi Lim believed that Singapore is being viewed favourably among foreigners and ranked highly among international cities worldwide with property prices deemed attractive among financial centres globally. Moreover, Singaporeans are also leading the local real estate market momentum and is confident that property sales should remain healthy despite the economic slowdown.
The proportion of new home sales in the Rest of Central Region (RCR) is 58.7%, up from 27.1% in the previous month. Furthermore, URA Realis data stated that the number of property purchased by Singaporeans rose 29.3 % to 1,078 units in September from 834 units in August.
Huttons Asia real estate advisor Kiwi Lim believed that Singapore is being viewed favourably among foreigners and ranked highly among international cities worldwide with property prices deemed attractive among financial centres globally. Moreover, Singaporeans are also leading the local real estate market momentum and is confident that property sales should remain healthy despite the economic slowdown.
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HSBC home loan for completed properties (floating / fixed)
HSBC offers preferential rates to homebuyers who’re borrowing at least $800,000. However, the basic loan packages available are the same no matter how much you borrow. Completed property buyers can choose between two SIBOR-pegged floating rate home loans with a 2-year lock-in period, a fixed deposit-pegged home loan with a 2-year lock-in period, as well as two fixed-rate home loans with a 2- and 3-year lock-in period respectively.
The SIBOR-pegged interest rates for the packages with the lowest starting interest rates begin at 1M SIBOR + 0.25% to 0.3%, depending on loan package and loan amount. But from the fourth year onwards, they jump to 1M SIBOR + 0.65% to 0.7%. If you choose fixed deposit-pegged interest rates - You’ll basically pay the banks’ 24 month fixed deposit interest rates + a spread of about 2.13%. While these rates might not fluctuate as often as the SIBOR, the bank has the discretion to change them anytime they like.
The fixed interest rate packages let you lock in a fixed rate for 2 or 3 years, after which you will pay a floating rate. In exchange for the stability you usually end up paying higher interest rates at the start. That being said, HSBC’s fixed interest rates are now advertised as starting from as little as 2%.
HSBC offers preferential rates to homebuyers who’re borrowing at least $800,000. However, the basic loan packages available are the same no matter how much you borrow. Completed property buyers can choose between two SIBOR-pegged floating rate home loans with a 2-year lock-in period, a fixed deposit-pegged home loan with a 2-year lock-in period, as well as two fixed-rate home loans with a 2- and 3-year lock-in period respectively.
The SIBOR-pegged interest rates for the packages with the lowest starting interest rates begin at 1M SIBOR + 0.25% to 0.3%, depending on loan package and loan amount. But from the fourth year onwards, they jump to 1M SIBOR + 0.65% to 0.7%. If you choose fixed deposit-pegged interest rates - You’ll basically pay the banks’ 24 month fixed deposit interest rates + a spread of about 2.13%. While these rates might not fluctuate as often as the SIBOR, the bank has the discretion to change them anytime they like.
The fixed interest rate packages let you lock in a fixed rate for 2 or 3 years, after which you will pay a floating rate. In exchange for the stability you usually end up paying higher interest rates at the start. That being said, HSBC’s fixed interest rates are now advertised as starting from as little as 2%.
Parc Esta - delight in the sumptuous array of conveniences and amenities at your doorstep. With Eunos MRT station within 3 mins walk and Paya Lebar Business Hub next door
Maybank home loan for completed properties (floating & fixed 2-5 years)
Completed property buyers are spoiled for choice, as Maybank offers five home loan packages to choose from. There are four fixed-rate home loan packages offering fixed interest rates for 2, 3, 4 or 5 years. You can also opt for a floating rate package pegged to the board rate with a 2-year lock-in period.
First, let’s talk about the fixed rate packages. The current interest rates range from 1.92% for 2 years to 2.78% for 5 years.
Now, 2.78% is a pretty high interest rate, but the advantage is that it gets locked in for 5 whole years, which makes it one of the most secure loan packages around, as many banks don’t offer such a long lock-in period. On the other end of the scale, the 1.92% interest for the 2-year fixed interest home loan is quite attractive, but after the two year period is up you will pay the board rate minus 1.92%, which at the moment is high.
In short, if you are pessimistic about the economy and think interest rates will rise in the future, then you might have a good case for opting for a 5 year fixed rate package. Completed property buyers are also eligible for floating rate packages with a 2- and 3-year lock-in period, with interest rates ranging from 2.21% to 2.30%. These are not the best interest rates available at the moment.
Completed property buyers are spoiled for choice, as Maybank offers five home loan packages to choose from. There are four fixed-rate home loan packages offering fixed interest rates for 2, 3, 4 or 5 years. You can also opt for a floating rate package pegged to the board rate with a 2-year lock-in period.
First, let’s talk about the fixed rate packages. The current interest rates range from 1.92% for 2 years to 2.78% for 5 years.
Now, 2.78% is a pretty high interest rate, but the advantage is that it gets locked in for 5 whole years, which makes it one of the most secure loan packages around, as many banks don’t offer such a long lock-in period. On the other end of the scale, the 1.92% interest for the 2-year fixed interest home loan is quite attractive, but after the two year period is up you will pay the board rate minus 1.92%, which at the moment is high.
In short, if you are pessimistic about the economy and think interest rates will rise in the future, then you might have a good case for opting for a 5 year fixed rate package. Completed property buyers are also eligible for floating rate packages with a 2- and 3-year lock-in period, with interest rates ranging from 2.21% to 2.30%. These are not the best interest rates available at the moment.
Jui Residences is a rare freehold condo located right next to the Kallang River, and a short walk to Potong Pasir MRT. It’s formerly the National Aerated Water Co., Ltd building with beautiful art-deco heritage facade.
Citibank home loan for completed properties (floating/fixed 2-3 years)
For completed properties, Citibank offers a floating rate home loan pegged to SIBOR and a fixed rate home loan. The fixed rate home loan lets you lock in rates of 1.98% to 2.03% for two years (available for both HDB and private property), or 2.04% to 2.09% for 3 years (private property only). These are very competitive interest rates compared to what other banks are offering, however once the fixed period is over, your interest rates will be pegged to SIBOR. So, be prepared to refinance later on.
The floating rate packages offer interest rates that begin at 2.11% to 2.20%. These starting interest rates are attractive compared to what other banks are offering at the moment, however they also rise quite sharply over the years, from SIBOR + 0.35% in the first year and SIBOR + 0.45% in the second year to a whopping SIBOR + 0.70% in the third year onwards. So, again, be prepared to refinance!
Standard Chartered home loan for completed properties (2-year floating)
Completed property buyers can choose between seven home loan packages. Four are 36-month fixed deposit-linked home loan packages, and three are SIBOR-pegged home loan packages. If you are a MortgageOne user, you can take advantage of two of their deposit-linked home loan packages that enable you to deposit money in your MortgageOne account to offset your mortgage loan interest payable. Interest rates currently range from 2.15% to 2.30% for SIBOR packages, and 2.25% to 2.30% for fixed deposit-linked packages. The SIBOR rates are currently very competitive compared to what other banks are offering.
For completed properties, Citibank offers a floating rate home loan pegged to SIBOR and a fixed rate home loan. The fixed rate home loan lets you lock in rates of 1.98% to 2.03% for two years (available for both HDB and private property), or 2.04% to 2.09% for 3 years (private property only). These are very competitive interest rates compared to what other banks are offering, however once the fixed period is over, your interest rates will be pegged to SIBOR. So, be prepared to refinance later on.
The floating rate packages offer interest rates that begin at 2.11% to 2.20%. These starting interest rates are attractive compared to what other banks are offering at the moment, however they also rise quite sharply over the years, from SIBOR + 0.35% in the first year and SIBOR + 0.45% in the second year to a whopping SIBOR + 0.70% in the third year onwards. So, again, be prepared to refinance!
Standard Chartered home loan for completed properties (2-year floating)
Completed property buyers can choose between seven home loan packages. Four are 36-month fixed deposit-linked home loan packages, and three are SIBOR-pegged home loan packages. If you are a MortgageOne user, you can take advantage of two of their deposit-linked home loan packages that enable you to deposit money in your MortgageOne account to offset your mortgage loan interest payable. Interest rates currently range from 2.15% to 2.30% for SIBOR packages, and 2.25% to 2.30% for fixed deposit-linked packages. The SIBOR rates are currently very competitive compared to what other banks are offering.
The Tre Ver is a new condo (former Raintree Residence), developed by reputable UOL Group and UIC Industrial Corporation within a few minutes walk to Potong Pasir MRT
DBS home loan for completed properties (2 years fixed)
For completed properties, DBS offers several home loan packages and it’s interesting to see how they stack up against each other. The full range of home loans can be split into 2 broad types: Fixed interest rate and floating interest rate. The BUC home loans we talked about earlier are an example of a floating interest rate loan — the interest is pegged to some moving number.
Fixed rate home loans, however, promise to charge you a standard rate e.g. 2% p.a. for a specified number of years, regardless of what happens to DBS’s fixed deposit rates, or the economy.
Traditionally, for fixed rate packages, you pay a little more for the stability and security of a fixed rate. However, this is not the case right now with DBS home loans. Their fixed rate packages are actually really competitive right now.
Special offer: For a 2-year fixed rate home loan, DBS currently offers a special VIP rate of 1.86% p.a interest rate, which is actually lower than that of their floating rate package. Simply watsapp to 9386 4036 with your outstanding loan amount and your property address and we will help arrange for you to enjoy this special VIP rate.
For completed properties, DBS offers several home loan packages and it’s interesting to see how they stack up against each other. The full range of home loans can be split into 2 broad types: Fixed interest rate and floating interest rate. The BUC home loans we talked about earlier are an example of a floating interest rate loan — the interest is pegged to some moving number.
Fixed rate home loans, however, promise to charge you a standard rate e.g. 2% p.a. for a specified number of years, regardless of what happens to DBS’s fixed deposit rates, or the economy.
Traditionally, for fixed rate packages, you pay a little more for the stability and security of a fixed rate. However, this is not the case right now with DBS home loans. Their fixed rate packages are actually really competitive right now.
Special offer: For a 2-year fixed rate home loan, DBS currently offers a special VIP rate of 1.86% p.a interest rate, which is actually lower than that of their floating rate package. Simply watsapp to 9386 4036 with your outstanding loan amount and your property address and we will help arrange for you to enjoy this special VIP rate.
Disclaimer: All information above are compiled from various sources including bankers and websites: https://blog.moneysmart.sg Banks may change their mortgage rates without notice anytime. We are not responsible for bank's decisions.
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