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The 1st half of 2018 will see developers expressing strong interest in enbloc deals as local and overseas developers look to replenish their land banks in Singapore to ride the economic upturn in Asia and Singapore. I've identified a few freehold projects in D10 that developers may be keen to buy over:
Sommerville Grandeur in D10 is a beautiful development on a large plot of land near MRT station
Sommerville Grandeur is a freehold condominium development located along Farrer Drive in District 10 near Farrer Park MRT station. Completed in 1996, it comprises of 5 storeys and 96 units. It is located in the vicinity of Spanish Village and Woollerton Park Apartments, located just minutes drive away from Orchard Road, where a host of amenities are readily available.
Sommerville Grandeur has full condo facilities, which includes bbq pits, playground, sauna, tennis courts, squash courts, gymnasium, swimming pool, car parking and a 24-hour security. There are schools located in the vicinity, such as Nanyang Primary and St. Margaret’s Secondary. Recreational facilities nearby include the Botanic Gardens and Ridout Tea Gardens which is just a short drive away.
Sommerville Grandeur's medium transacted psf price is around $1,463 psf.
Sommerville Grandeur has full condo facilities, which includes bbq pits, playground, sauna, tennis courts, squash courts, gymnasium, swimming pool, car parking and a 24-hour security. There are schools located in the vicinity, such as Nanyang Primary and St. Margaret’s Secondary. Recreational facilities nearby include the Botanic Gardens and Ridout Tea Gardens which is just a short drive away.
Sommerville Grandeur's medium transacted psf price is around $1,463 psf.
Tulip Garden
Spanish Village
Tulip Garden is a freehold development near Farrer Road MRT Station close to Holland Village and the Singapore Botanic Gardens. Completed in 1985, Tulip Garden comprises 162 units with swimming pool, tennis court, squash court, and playground. Tulip Garden's close proximity to Holland Village means residents are close to amenities such as shopping centres, supermarkets, restaurants and eating establishments, banks, and other shops. In addition, Gleneagles Hospital is within reasonable driving distance. Its medium transacted psf price is around $1,150 psf.
Spanish Village is a freehold condominium development located at 56 Farrer Road in District 10 near Farrer Road MRT Station. Completed in 1987, it comprises of 226 units and is located in the vincinity of landmarks like Symphony Lake and Holland Village. Spanish Village has swimming pool, sauna, squash court, tennis court, playground, gym, barbecue pits, covered car park and 24-hour security. Located just a short walk away from shopping centres like Coronation Shopping Plaza and Commonwealth Crescent Market & Food Centre, residents of Spanish Village enjoys a host of amenities readily available, such as supermarkets, restaurants and food courts, banks, and entertainment facilities.
Spanish Village is a freehold condominium development located at 56 Farrer Road in District 10 near Farrer Road MRT Station. Completed in 1987, it comprises of 226 units and is located in the vincinity of landmarks like Symphony Lake and Holland Village. Spanish Village has swimming pool, sauna, squash court, tennis court, playground, gym, barbecue pits, covered car park and 24-hour security. Located just a short walk away from shopping centres like Coronation Shopping Plaza and Commonwealth Crescent Market & Food Centre, residents of Spanish Village enjoys a host of amenities readily available, such as supermarkets, restaurants and food courts, banks, and entertainment facilities.
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As we welcome 2018 in the next few days, some developers are likely to have to reach for record prices next year in order to break even on some of those en bloc deals this year.
Analysts say the unsold stock of residential property is not all that high by historical standards. Unsold residential stock has fallen by more than half, from more than 44,000 units in 2008 to 17,421 units as at 3Q2017 according to statistics from URA.
Analysts say the unsold stock of residential property is not all that high by historical standards. Unsold residential stock has fallen by more than half, from more than 44,000 units in 2008 to 17,421 units as at 3Q2017 according to statistics from URA.
Developer sales volume reached 8,702 units in the first three quarters of 2017 and could end the year at the 10,500-to-11,000-unit level. If this buying momentum is sustained into 2018 and 2019, the unsold stock of 17,421 units would be depleted in less than two years.
Unsold inventory levels of 17,000 units are near 18-year lows, and we agree they could rise as more units — 20,000 by MAS estimates — are launched in the next one to two years. Analysts felt the pace of increase will be partially offset by home purchases, which are tracking at 12,000 units in the past 12 months.
Some market watchers suggest that developers have chosen to replenish their landbanks by aggressively bidding for en bloc sites because there has been a reduction in the number of sites released under the Government Land Sales programme in recent years.
Unsold inventory levels of 17,000 units are near 18-year lows, and we agree they could rise as more units — 20,000 by MAS estimates — are launched in the next one to two years. Analysts felt the pace of increase will be partially offset by home purchases, which are tracking at 12,000 units in the past 12 months.
Some market watchers suggest that developers have chosen to replenish their landbanks by aggressively bidding for en bloc sites because there has been a reduction in the number of sites released under the Government Land Sales programme in recent years.
The recent GLS sites released by URA for the 1st half of 2018 could result in diverting some demand away from the collective sale market but not necessarily stop land prices from getting pushed up as the surge in en bloc deals is simply a reflection of the market working as property developers sense a coming upturn in demand due to the strong pickup in sales this year.
On Nov 30, URA announced the launch of four sites for sale. Two sites, on Holland Road and Handy Road, were launched for sale under the Confirmed List. Another two sites, on Mattar Road and Canberra Drive, were made available for application under the Reserve List. Together, these four sites can yield about 1,720 residential units, URA said.
The surge in land prices was not just the result of developers needing to replenish their landbanks but also the big stock market rally as the stock market in Singapore and regionally have done well in 2017. At the end of the day, demand and supply will dictate market forces will balance the property market.
On Nov 30, URA announced the launch of four sites for sale. Two sites, on Holland Road and Handy Road, were launched for sale under the Confirmed List. Another two sites, on Mattar Road and Canberra Drive, were made available for application under the Reserve List. Together, these four sites can yield about 1,720 residential units, URA said.
The surge in land prices was not just the result of developers needing to replenish their landbanks but also the big stock market rally as the stock market in Singapore and regionally have done well in 2017. At the end of the day, demand and supply will dictate market forces will balance the property market.
Are home prices vulnerable? - December 4, 2017 - Edgeprop
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As a show of investor confidence towards future outlook for the Singapore office market, property firm Oxley Holdings announced that they are buying the iconic Raffles Place building Chevron House for $660 million, helping the local office market end the year with a bang.
The mainboard-listed company is acquiring the 32-storey building from Deka Singapore, a unit of Germany's DekaBank Group. Oxley intends to renovate the commercially zoned site. The office tower has a net lettable area of about 215,667 sq ft while the retail area is around 45,613 sq ft. The acquisition is expected to be completed by late March.
Oxley continues to expand its Singapore residential landbank; it has been awarded the collective sale of Vista Park at S$418 million, which works out to about S$1,096 per square foot per plot ratio, inclusive of an estimated S$72 million payable to the state to top up the site's lease to 99 years.
The mainboard-listed company is acquiring the 32-storey building from Deka Singapore, a unit of Germany's DekaBank Group. Oxley intends to renovate the commercially zoned site. The office tower has a net lettable area of about 215,667 sq ft while the retail area is around 45,613 sq ft. The acquisition is expected to be completed by late March.
Oxley continues to expand its Singapore residential landbank; it has been awarded the collective sale of Vista Park at S$418 million, which works out to about S$1,096 per square foot per plot ratio, inclusive of an estimated S$72 million payable to the state to top up the site's lease to 99 years.
Chevron House, formerly called Caltex House, is a high-rise skyscraper located in the central business district of Singapore at 30 Raffles Place, in the financial district of Raffles Place. Completed in 1993 with direct access to Raffles Place MRT station, it has 27 levels of office space and five for retail outlets and 96 carpark spaces in the two basement levels.
The sale of Chevron House is the last of a few major office sales in 2017 including PWC Building at S$746.8 million, GSH Plaza at S$663.5 million, Asia Square Tower 2 at S$2.09 billion and 50 per cent of One George Street at S$591.6 million.
V on Shenton is situated in Shenton Way near Tanjong Pagar MRT, Marina Bay MRT and Raffles Place MRT
Urban Redevelopment Authority (URA) revealed on 15 Dec 2017 (Friday) that developers sold 785 private homes in November 2017, this figure is higher than the previous month in Oct 2017. These figures exclude executive condominium (EC) units.
The URA's data, compiled from its survey of licensed housing developers, also showed that developers found buyers for 148 EC units last month, lower than the 211 units in October and the 251 units in November last year. This could be due to lesser units of ECs available in the market.
The URA's data, compiled from its survey of licensed housing developers, also showed that developers found buyers for 148 EC units last month, lower than the 211 units in October and the 251 units in November last year. This could be due to lesser units of ECs available in the market.
Parc Botannia in Sengkang by Sing Holdings and Wee Hur Holdings sold 230 units on its first weekend of launch
Developers also moved units in earlier launched projects. Hao Yuan Investment sold 71 units last month at the Queens Peak condo next to Queenstown MRT Station at a median price of S$1,694 per square foot (psf).
Kingsford Property Development sold 38 units at its Upper Serangoon View project Kingsford Waterbay at a median price of S$1,346 psf.
GuocoLand moved 35 units at Sims Urban Oasis at a median price of S$1,508 psf.
In Lorong 5 Toa Payoh, the developers of Gem Residences transacted 34 units at a S$1,517 psf median price.
Kingsford Property Development sold 38 units at its Upper Serangoon View project Kingsford Waterbay at a median price of S$1,346 psf.
GuocoLand moved 35 units at Sims Urban Oasis at a median price of S$1,508 psf.
In Lorong 5 Toa Payoh, the developers of Gem Residences transacted 34 units at a S$1,517 psf median price.
'Oxley Holdings buys Chevron House' article on Straits Times Published on Dec 15, 2017 & 'Developers sell 785 private homes excluding ECs in Nov, up from 760 units in Oct: URA' article on Business Times - Fri, Dec 15, 2017
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The Government has decided to keep the total supply of units for 1H2018 at about the same level as the supply of units from the 2H2017 GLS Programme as they announced on 13 Dec 2017, the first half 2018 (1H2018) Government Land Sales (GLS) Programme, which comprises six Confirmed List sites and nine Reserve List sites. These sites can yield about 8,045 private residential units and 63,960 sqm gross floor area (GFA) of commercial space.
The six Confirmed List sites are private residential sites [including one Executive Condominium (EC) site] which can yield 2,775 private dwelling units (including 450 EC units) and 4,450 sqm GFA of commercial space.
The Reserve List comprises eight private residential sites (including two EC sites) and one commercial site. These sites can yield 5,270 private dwelling units (including 1,255 EC units) and 59,510 sqm GFA of commercial space, mostly for office use.
The six Confirmed List sites are private residential sites [including one Executive Condominium (EC) site] which can yield 2,775 private dwelling units (including 450 EC units) and 4,450 sqm GFA of commercial space.
The Reserve List comprises eight private residential sites (including two EC sites) and one commercial site. These sites can yield 5,270 private dwelling units (including 1,255 EC units) and 59,510 sqm GFA of commercial space, mostly for office use.
Collective sale sites with strong attributes and are well located will continue to appeal to developers
The conservative stance is partly due to the large volume of redevelopment land freed up by the rash of collective sales this year, therefore the Government is adhering to its cautious approach on the supply front.
This will be adequate to meet the purchase demand for new private housing from home buyers over the next one to two years. The land releases in the first half of 2018 provides varied options for developers in terms of location and will complement offerings on the collective sale market. Analysts believe collective sale sites that have strong attributes and are well located will continue to appeal to developers and future home buyers.
This will be adequate to meet the purchase demand for new private housing from home buyers over the next one to two years. The land releases in the first half of 2018 provides varied options for developers in terms of location and will complement offerings on the collective sale market. Analysts believe collective sale sites that have strong attributes and are well located will continue to appeal to developers and future home buyers.
The confirmed list of land parcels include a parcel in Dairy Farm Road that can generate about 500 units and 4,000 sq m of commercial space, and a plot in Jalan Jurong Kechil that can yield about 280 homes. The sole EC site on the confirmed list is in Canberra Link in the Sembawang area.
The reserve list will offer eight residential sites, including two for ECs, and one commercial plot. These can yield 5,270 private homes - 1,255 EC units among them - and 59,510 sq m GFA of commercial space. The commercial site at Woodlands Square is for a mixed-use development comprising mainly office space. This site will allow developers to initiate the development of more office space if they assess that there is demand.
The two other reserve EC sites are in Tampines Avenue 10 and Anchorvale Crescent.
The 6 confirmed list sites are launched according to schedule regardless of demand. However, the 9 reserve-list sites will only be launched only upon successful application by a developer or when there is sufficient market interest in a site.
The reserve list will offer eight residential sites, including two for ECs, and one commercial plot. These can yield 5,270 private homes - 1,255 EC units among them - and 59,510 sq m GFA of commercial space. The commercial site at Woodlands Square is for a mixed-use development comprising mainly office space. This site will allow developers to initiate the development of more office space if they assess that there is demand.
The two other reserve EC sites are in Tampines Avenue 10 and Anchorvale Crescent.
The 6 confirmed list sites are launched according to schedule regardless of demand. However, the 9 reserve-list sites will only be launched only upon successful application by a developer or when there is sufficient market interest in a site.
No change in land supply for private homes in first-half 2018 - Straits Times Online, 13 Dec 2017
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As of today, there are currently a handful of enbloc developments awaiting tenders to close and to know which developer are keen to buy over their development for rebuilding. We have identified top 5 enbloc developments with the most attractive locations among available enbloc sites currently in the market:
Jervois Green
JERVOIS Green is going enbloc with a S$48 million asking price for the freehold development, sitting on a 27,356 sq ft site, works out to S$1,373 per sq ft (psf) per plot ratio (ppr). The eight-apartment project could be turned into a 43-unit redevelopment, subject to approval. A development charge of S$9.865 million is payable for the site at 100A, Jervois Road, which is zoned for residential use with a plot ratio of 1.4.
Derby Court
Owners of the Derby Court condominium near the Novena neighbourhood have launched a public tender for collective sale, with a reserve price of S$62 million. The reserve price works out to S$1,168 per square foot (psf) per plot ratio (ppr). This is based on an 18,506 square foot site with a gross floor area of 53,094 sq ft, representing an equivalent plot ratio of 2.869 times, more than the 2.8-times gross plot ratio allowed under the 2014 zoning Master Plan.
The 20-unit development, comprising 18 apartments and two penthouses, sits along Derbyshire Road. It is across the road from St Joseph's Primary Institution (Junior), and also close to Anglo-Chinese School (Junior). The site can be redeveloped into a 70-apartment project, subject to approval.
The 20-unit development, comprising 18 apartments and two penthouses, sits along Derbyshire Road. It is across the road from St Joseph's Primary Institution (Junior), and also close to Anglo-Chinese School (Junior). The site can be redeveloped into a 70-apartment project, subject to approval.
Vista Park
Vista Park en bloc committee are eyeing at least $350 million for the 209-unit Vista Park in South Buona Vista Road. Located at the edge of Kent Ridge Park and facing the sea. The land rate is estimated to be $932 per sq ft per plot ratio (psf ppr), spanning 319,250 sq ft and has about 61 years left on its lease. The site has a plot ratio of 1.4 and allowable height of up to five storeys, translating to a potential GFA of about 446,951 sq ft, with the potential to yield around 530 apartments of about 800 sq ft per unit for the new residential development, subject to approval. The tender closes on 13 Dec 2017.
Riviera Point
The en bloc sale of Riviera Point located at 2 Kim Yam Road set an asking price of $75m or $1,522 psf ppr. The site area is located in the Central Area. It has a land area of 14,579 sqft and a gross floor area of 45,265 sqft. It was marked for residential use and allowed to have 36 storeys. The site is 600m away from Great World MRT Station (TE15). The tender closes on 18 Dec 2017.
Pearl Bank Apts
Pearl Bank Apts is a beautiful 37-storey development in the Outram neighbourhood, has a reserve price of S$728 million or about S$1,505 per square foot (psf) per plot ratio (ppr), after factoring in an upgrading premium of approximately S$195 million for the lease top-up. There is no development charge payable.
Pearlbank is an iconic horsehoe-shaped building located on a beautiful hill - with elevated natural forest grounds amid the lush greenery of Pearl's Hill City Park, and is next to Outram Park MRT Interchange It is also conveniently located near the Central Expressway in the central business district (CBD) area.
Pearl Bank Apts is an extremely rare development within 3 minutes walk to three different MRT lines (North East Line, East West Line and Upcoming Thomson East Coast Line) at Outram Park MRT station. Location wise, there seem to be no other development that can match Pearl Bank.
Pearlbank is an iconic horsehoe-shaped building located on a beautiful hill - with elevated natural forest grounds amid the lush greenery of Pearl's Hill City Park, and is next to Outram Park MRT Interchange It is also conveniently located near the Central Expressway in the central business district (CBD) area.
Pearl Bank Apts is an extremely rare development within 3 minutes walk to three different MRT lines (North East Line, East West Line and Upcoming Thomson East Coast Line) at Outram Park MRT station. Location wise, there seem to be no other development that can match Pearl Bank.
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Allgreen’s purchase of 2 freehold collective sales sites – Royalville and Crystal Tower, has set a new record price for land transactions around the Bukit Timah area. In particular, Royalville which is located at the hip Sixth Avenue enclave and within walking distance from the Sixth Avenue MRT Station was sold at $1,960 psf ppr. This is almost 30% higher than the asking price. The land price is also higher than the current selling prices of condo units in the vicinity. Breakeven for the redevelopment project should be around $2,400 - $2,500 psf, with possible selling price of around $2,750 - $2,900 psf.
Crystal Tower was transacted at $1,840 psf ppr, which is just over 30% higher than the asking price. It is also about 12% higher than the recent sale price of nearby Casa Contendere to Tee Land. This works out to a breakeven price of around $$2,300 - $2,400 psf, and a potential selling price of around $2,650 - $2,800 psf.
Crystal Tower was transacted at $1,840 psf ppr, which is just over 30% higher than the asking price. It is also about 12% higher than the recent sale price of nearby Casa Contendere to Tee Land. This works out to a breakeven price of around $$2,300 - $2,400 psf, and a potential selling price of around $2,650 - $2,800 psf.
Completed in 1980s, Royalville has 55 apartments, 38 maisonette & 11 shops. PHOTO: EDMUND TIE & CO
Allgreen Properties victory in securing two freehold sites in the coveted Bukit Timah area in two separate collective sale tenders, acquiring Royalville for S$477.94 million and Crystal Tower for S$180.65 million saw an intense competition for both sites as freehold land in Singapore are limited in supply, with Royalville attracting a total of nine bids from local and foreign developers and Crystal Tower drawing a total of 12 tender bids.
Most of the bids for Royalville, nestled in Bukit Timah near Sixth Avenue MRT station, were well above the asking price of S$368 million. Its large sprawling grounds allows the developer to design an upscale condominium with up to 323 residential units and comprehensive suite of facilities.
Most of the bids for Royalville, nestled in Bukit Timah near Sixth Avenue MRT station, were well above the asking price of S$368 million. Its large sprawling grounds allows the developer to design an upscale condominium with up to 323 residential units and comprehensive suite of facilities.
Crystal Tower can be redeveloped into a condominium with some 130 units. PHOTO: EDMUND TIE & COMPANY
Completed in the mid-1980s, Royalville comprises 55 apartments, 38 maisonette and 11 shops. It sits on a land area of 16,181.5 square metres (174,176 square feet) zoned residential with a gross plot ratio of 1.4.
Each apartment owner at Royalville will receive between S$3.09 million and S$3.76 million, while a maisonette owner will receive between S$5.42 million and S$6.64 million. Shop owners are expected to receive S$5.67 million to S$10.38 million.
Each apartment owner at Royalville will receive between S$3.09 million and S$3.76 million, while a maisonette owner will receive between S$5.42 million and S$6.64 million. Shop owners are expected to receive S$5.67 million to S$10.38 million.
Gramercy Park is a beautiful freehold project at Grange Road, minutes walk to Orchard MRT Station
The selling price for Royalville reflects a land rate of about S$1,960 per square foot per plot ratio (psf ppr).
As for the 28-unit Crystal Tower at Ewe Boon Road in prime district 10, the selling price reflects a land rate of S$1,840 psf ppr. It was built in the 1970s.
Subject to the authorities' approval, Crystal Tower's 5,619.0 sq m (60,482 sq ft) site can be redeveloped into a condominium project with some 130 units, up to its existing gross floor area of 9,121.17 sq m (98,179 sq ft) and reflecting an equivalent plot ratio of 1.623. No development charge is payable.
Based on the sale price, each apartment owner at Crystal Tower is expected to pocket gross profit of between S$6 million and S$6.6 million, while the penthouse owner will receive about S$12.3 million.
As for the 28-unit Crystal Tower at Ewe Boon Road in prime district 10, the selling price reflects a land rate of S$1,840 psf ppr. It was built in the 1970s.
Subject to the authorities' approval, Crystal Tower's 5,619.0 sq m (60,482 sq ft) site can be redeveloped into a condominium project with some 130 units, up to its existing gross floor area of 9,121.17 sq m (98,179 sq ft) and reflecting an equivalent plot ratio of 1.623. No development charge is payable.
Based on the sale price, each apartment owner at Crystal Tower is expected to pocket gross profit of between S$6 million and S$6.6 million, while the penthouse owner will receive about S$12.3 million.
GOODWOOD GRAND is a quality freehold project in District 10 along Balmoral Road near Newton MRT
Just last week, we saw a record enbloc deal at How Sun Park where the SingHaiyi Group paid $81.09 million for the freehold estate comprising a three-storey development of 20 townhouses. Owners will get about $4.05 million per unit - slightly more than twice what they would have received had their units been sold individually. The most recent transaction in that development was three months ago, at just under $1.9 million.
Straits Times Article: 'Allgreen snaps up two freehold sites in Bukit Timah in collective sales' on 1 Dec 2017
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By early 2019, Singapore will reinvent itself to be the leading air hub of the the world as our famous Singapore Changi Airport work together with Capitaland Malls to transform Changi Airport to become an international lifestyle destination with Jewel at Changi. Situated in the heart of the world's best airport, Jewel at Changi integrates a unique mix of lush nature and urban energy that will bring together a world of ideas in leisure, shopping, and dining, creating first-class experiences to delight and inspire attracting the world to Changi and Singapore.
Photo from Straits Times
The construction of the upcoming mega mall - one of the largest and most integrated shopping mall in the world - Jewel at Changi has reached the halfway mark, putting the airport on track to build an icon that aims to make Singapore a more attractive air hub and destination by early 2019.
The five-storey, mainly commercial development with five basement floors will house about 300 shops and food and beverage outlets. Highlights include a 40m indoor waterfall and a five-storey garden with about 2,500 trees and 100,000 shrubs from countries including Brazil, Australia, Thailand and the US.
Directly connected to T1, Jewel will be linked to the other two terminals via air-conditioned bridges with travelators.
When completed, Jewel at Changi will glitter with more than 9,600 pieces of glass, specially made in the United States, that will frame its facade. This investment in infrastructure and facilities is to offer a distinctive experience to the travelling public, which will help Changi stay ahead of the competition.
The five-storey, mainly commercial development with five basement floors will house about 300 shops and food and beverage outlets. Highlights include a 40m indoor waterfall and a five-storey garden with about 2,500 trees and 100,000 shrubs from countries including Brazil, Australia, Thailand and the US.
Directly connected to T1, Jewel will be linked to the other two terminals via air-conditioned bridges with travelators.
When completed, Jewel at Changi will glitter with more than 9,600 pieces of glass, specially made in the United States, that will frame its facade. This investment in infrastructure and facilities is to offer a distinctive experience to the travelling public, which will help Changi stay ahead of the competition.
Spanning about 14,000 sqm, the Canopy Park which sits on the highest level of Jewel features exciting play attractions and serene gardens.
We have shortlisted some good new launches in the east that you may consider. Simply click on the images to visit the project websites.
Seaside Residences is the first new project with sea views to be built along East Coast Parkway (ECP) in 15 years
The Alps Residences is a new condo inspired by the Swiss Alps located in Tampines by developer MCC Land.
Grandeur Park Residences is less than 1 minute walk to Tanah Merah MRT thru a sheltered walkway
Enjoy living in a luxury resort @ Coco Palms - 5 min walk to Pasir Ris MRT & White Sands shopping mall
The Line is a rare freehold condo located at Tanjong Rhu Road connected to upcoming Katong Park MRT station
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Over the months, Singaporeans as well as people living in Singapore have seen, heard and experienced at least once - a delay, or stopping of the MRT train operations,often during times when you needed to rush to your important office meeting, appointment with clients or even catching a flight.
Forestwood Residences by CDL is located within 5 mins walk to Serangoon Bus Interchange
As such irregular MRT delays and train stoppages increase in frequency (at least in my opinion), we find our work and daily life affected. We may either plan 1 hour ahead of time in future or we can take public transport like taxi, Uber cabs, Grab taxi, walk, cycle or the old reliable bus transport.
The Trilinq by IOI developer is located within 8 mins walk to Clementi Bus Interchange
Taking buses not only is considered more reliable compared to our MRT nowadays (at least that's how I feel), it also allows me to relax and enjoy the scenic view of people rushing around in the streets and the trees and buildings passing by while we meditate silently to prepare ourselves for the next appointment or meeting that we are rushing to.
North Park Residences by Frasers Centrepoint is located above Yishun Bus Interchange
If you are feeling the same way as me, you may want to consider investing in one of these new condos currently in the market that are within a short walking distance to the bus interchange where a selection of buses can bring you to many places across our tiny Singapore island. If you currently live near a bus interchange, congratulations and I look forward to meeting you on a bus soon. :)
Hillion Residences by Sim Lian is located right above Bukit Panjang Bus Interchange
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A newly built housing estate can be seen next to another that is under construction in a suburb of Auckland, New Zealand. PHOTO: REUTERS
Foreigner intending to speculate on properties in New Zealand will no longer be able to buy existing houses in New Zealand from early 2018. This was announced by the new Prime Minister of New Zealand's new government, Jacinda Ardern at press conference on Tuesday, 31 Oct 2017). This is a big effort to prevent a bubble from forming in the New Zealand property market and most importantly to make it easier for Kiwis to buy their first home.
Recent years have seen tens of thousands of foreign speculators buying houses and driving up prices in various cities of New Zealand causing prices of properties to increase much higher that the salaries of New Zealanders, making the possibility of owning their first home out of reach for more and more New Zealanders.
New Zealand house prices have surged in recent years, driving the average value in biggest city Auckland to more than NZ$1 million (S$932,000) and putting property out of reach for many younger Kiwis. The law change will bring New Zealand into line with other countries including neighbour Australia, where non-residents are also restricted from buying homes unless they are newly built.
Current investors who owns existing properties in New Zealand may receive a lower valuation in their properties as cash rich foreigners will no longer be able to buy these existing properties from early next year and these investor sellers can only sell to the locals in New Zealand.
Recent years have seen tens of thousands of foreign speculators buying houses and driving up prices in various cities of New Zealand causing prices of properties to increase much higher that the salaries of New Zealanders, making the possibility of owning their first home out of reach for more and more New Zealanders.
New Zealand house prices have surged in recent years, driving the average value in biggest city Auckland to more than NZ$1 million (S$932,000) and putting property out of reach for many younger Kiwis. The law change will bring New Zealand into line with other countries including neighbour Australia, where non-residents are also restricted from buying homes unless they are newly built.
Current investors who owns existing properties in New Zealand may receive a lower valuation in their properties as cash rich foreigners will no longer be able to buy these existing properties from early next year and these investor sellers can only sell to the locals in New Zealand.
Wellington has seen property prices increasing over the years to high levels beyond the reach of many young Kiwis
Therefore, the New Zealand's new government said it will change the law to prevent foreigners from buying existing homes in the South Pacific nation to reduce speculation and make it easier for first-time buyers to enter the market.
In particular are speculators and property buyers from mainland China who poured in more than NZ$10 billion over the last few years to snap up vast plots of land, houses and buildings. In fact, other than New Zealand, Chinese money has pushed up home prices around the world, stoking concern among locals in cities from Vancouver to Sydney.
New Zealand is considered as one of the favoured country for the rich to buy an oasis to retreat to annually. The New Zealand government believes this policy will solve a political problem and put a cap on rising home prices in New Zealand.
In particular are speculators and property buyers from mainland China who poured in more than NZ$10 billion over the last few years to snap up vast plots of land, houses and buildings. In fact, other than New Zealand, Chinese money has pushed up home prices around the world, stoking concern among locals in cities from Vancouver to Sydney.
New Zealand is considered as one of the favoured country for the rich to buy an oasis to retreat to annually. The New Zealand government believes this policy will solve a political problem and put a cap on rising home prices in New Zealand.
City Suites is a choice investment project - freehold, city fringe, near Novena Medical Centre, 1 bedder from $8xx K
New Zealand's labour-led government will move forward to introduce amendments to the Overseas Investment Act to classify residential housing as "sensitive," meaning non-residents or non-citizens cannot purchase existing residential dwellings. Australians will not be affected because New Zealanders are exempt in Australia.
The new government, being less than a month old plans to introduce the foreigner property legislation before Christmas and pass the law early next year, before the Trans Pacific Partnership (TPP) is ratified. She said it then won't breach any trade agreements expect the Singapore Closer Economic Partnership, which would be worked through with Singapore as the proposed change means New Zealand can move its focus away from land issues at the negotiating table at Apec.
New Zealand still has concerns about Investor State Dispute Settlement clauses in the TPP, as these confer "greater rights on multi-national companies investing in New Zealand than a New Zealand company has" and the government plans to amend the ISDS provisions of TPP and oppose ISDS in any future free trade agreements.
The new government, being less than a month old plans to introduce the foreigner property legislation before Christmas and pass the law early next year, before the Trans Pacific Partnership (TPP) is ratified. She said it then won't breach any trade agreements expect the Singapore Closer Economic Partnership, which would be worked through with Singapore as the proposed change means New Zealand can move its focus away from land issues at the negotiating table at Apec.
New Zealand still has concerns about Investor State Dispute Settlement clauses in the TPP, as these confer "greater rights on multi-national companies investing in New Zealand than a New Zealand company has" and the government plans to amend the ISDS provisions of TPP and oppose ISDS in any future free trade agreements.
http://www.straitstimes.com/business/property/new-zealand-to-slap-home-buying-ban-on-foreigners-to-cool-market
- Published on
NUS announced on Oct 30 2017 that overall private condominium and apartment prices rose 0.1% month-on-month in September 2017, based on the latest flash values of the Singapore Residential Price Index Series. This marks the fifth straight month of increase in the overall SRPI.
The SRPI Central index saw the strongest growth since April 2017, rising 3.9% over the five-month period. This is due to the limited supply of newly launched private residential homes in the Central Region, which causes buyers to turn to the resale market. In September, the Central index rose 0.4% month-on-month.
The SRPI Non-Central index also saw a 2.1% increase over the same five-month period. The SRPI Small Units index rose just 0.3% over the five month period, but registered the strongest growth for September alone, rising 0.9% month-on-month. These indicate that the Singapore property market is poised for a recovery as investors from Asia turn their focus to Singapore due to our stable government and Singapore's attractive property prices compared with property in their own Asian cities.
The SRPI Central index saw the strongest growth since April 2017, rising 3.9% over the five-month period. This is due to the limited supply of newly launched private residential homes in the Central Region, which causes buyers to turn to the resale market. In September, the Central index rose 0.4% month-on-month.
The SRPI Non-Central index also saw a 2.1% increase over the same five-month period. The SRPI Small Units index rose just 0.3% over the five month period, but registered the strongest growth for September alone, rising 0.9% month-on-month. These indicate that the Singapore property market is poised for a recovery as investors from Asia turn their focus to Singapore due to our stable government and Singapore's attractive property prices compared with property in their own Asian cities.
Park Place Residences is one of the most sought after integrated residential property in Singapore.
The property market sentiment shows the highest in seven years with overall sentiment for the real estate market standing at 6.6 in 3rd Quarter 2017, a 0.5 point increase quarter-on-quarter from 6.1 in 2nd Quarter 2017, and the highest since 1st Quarter 2010 when it was 6.8, according to the Real Estate Sentiment Index (RESI) released by the National University of Singapore and the Real Estate Developers’ Association of Singapore (REDAS).
Both the property indices reflecting current and future sentiment rose from 2nd Quarter 2017, continuing the uptrend from 4th Quarter 2015. Every quarter of the year, National University of Singapore and REDAS holds a survey among senior executives of REDAS member firms to measure real estate market sentiment in Singapore. A score above 5 indicates improving conditions.
Both the property indices reflecting current and future sentiment rose from 2nd Quarter 2017, continuing the uptrend from 4th Quarter 2015. Every quarter of the year, National University of Singapore and REDAS holds a survey among senior executives of REDAS member firms to measure real estate market sentiment in Singapore. A score above 5 indicates improving conditions.
A score above 5 indicates improving conditions.
Overall prices of completed private apartments and condos in Singapore inched up 0.9% from July to August, based on the latest release of the Singapore Residential Price Index Series by National University of Singapore.
In August, prices for private non-landed homes excluding small units in the central region were up 1%, compared to 0.1% month-on-month increase in July. Prices for private non-landed homes excluding small units in the non-central region also saw a gain of 0.9%, after a 1.1% hike in July. Meanwhile, prices of small units (up to 506 sq ft) climbed 0.3%, following a 0.6% decline in July.
In August, prices for private non-landed homes excluding small units in the central region were up 1%, compared to 0.1% month-on-month increase in July. Prices for private non-landed homes excluding small units in the non-central region also saw a gain of 0.9%, after a 1.1% hike in July. Meanwhile, prices of small units (up to 506 sq ft) climbed 0.3%, following a 0.6% decline in July.
Forest Woods is a highly sought after residential condo within 5 mins walk to NEX. More than 95% sold.
This positive sentiment in Singapore property market is driven by local demand who have already accepted the fact that ABSD is here to stay and also the influx of Chinese investors continuing to shift their focus from the US to Asia, particularly Hong Kong, Singapore and Shanghai - which continue to be the top three investment destinations in Asia.
Fifth straight month of price increases for completed private condos - By Angela Teo / EdgeProp | November 3, 2017 2:55 PM MYT
