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Crown @ Robinson - rare strata freehold office building in the Central Business District at Robinson Road
Commercial properties in Singapore has seen some active transactions recently. These include a 12-storey freehold office block at 110 Robinson Road - between Finexis Building and Robinson 112, owned by OCBC, which sold it to Indonesian tycoon Tahir at around S$45.1 million or nearly S$3,169 per square foot based on the net lettable area of 14,233 sq ft. Analysts said the property presented a rare opportunity to acquire a freehold office building with a Robinson Road address for under S$50 million.
Among the many commercial deals seen transacted recently are six of the nine strata retail units on the second level of Holland Road Shopping Centre - along with an industrial unit at 211 Henderson - offered at a tender conducted by CBRE and which closed last month.
Among the many commercial deals seen transacted recently are six of the nine strata retail units on the second level of Holland Road Shopping Centre - along with an industrial unit at 211 Henderson - offered at a tender conducted by CBRE and which closed last month.
Centrium Square (Former Serangoon Plaza) is a good freehold commercial property in Serangoon Road
Four adjoining strata office units at The Adelphi, a 999-year leasehold property near City Hall MRT station, are being sold for S$20.7 million or about S$2,365 psf on the total strata area of 8,751 sq ft. The buyer is believed to be the Singapore Academy of Law (SAL). A body established by Statute, SAL is the promotion and development agency for Singapore's legal industry, tasked with the vision of making Singapore the legal hub of Asia.
SAL is currently located in the Supreme Court Building next to The Adelphi. When contacted, the Academy said last Friday that it is looking at the purchase of office space close to the Supreme Court. The move will enable SAL to house its operational units at its own premises instead of paying rent to the Supreme Court.
SAL is currently located in the Supreme Court Building next to The Adelphi. When contacted, the Academy said last Friday that it is looking at the purchase of office space close to the Supreme Court. The move will enable SAL to house its operational units at its own premises instead of paying rent to the Supreme Court.
ARC 380 is a magnificent 16-storey new freehold commercial development by Tong Eng Group at Lavender Street
Over at the freehold Holland Road Shopping Centre, various members of the Lim family behind Lim's Arts and Living have picked up five retail units. The units are part of nine units on the second level of the four-storey mall that were put up for tender by CBRE on behalf of their owners, two companies controlled by the Lim family. A sixth unit has been sold to an unrelated party.
The six units, with sizes between 237 sq ft and 732 sq ft, were transacted at S$4,346 psf to S$5,403 psf. Absolute prices ranged from S$1.12 million to S$3.95 million. The balance three retail units will be put on the auction block jointly by CBRE and Colliers at the latter's auction on Sept 21 at Amara Singapore in Tanjong Pagar.
The August tender also included a 4,962 sq ft strata freehold industrial unit on the second level of 211 Henderson, which has also been sold for S$2.98 million or S$600.56 psf, Ms Lim revealed. The buyer is not linked to the Lims.
The six units, with sizes between 237 sq ft and 732 sq ft, were transacted at S$4,346 psf to S$5,403 psf. Absolute prices ranged from S$1.12 million to S$3.95 million. The balance three retail units will be put on the auction block jointly by CBRE and Colliers at the latter's auction on Sept 21 at Amara Singapore in Tanjong Pagar.
The August tender also included a 4,962 sq ft strata freehold industrial unit on the second level of 211 Henderson, which has also been sold for S$2.98 million or S$600.56 psf, Ms Lim revealed. The buyer is not linked to the Lims.
Extracted from online article: "110 Robinson Rd sold at S$45.1m to Indonesian tycoon Tahir on 16 September 2016 | The Business Times by KALPANA RASHIWALA"
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Huge crowd of buyers who bought 80% within two months at High Park Residences in Fernvale in 2015
Fierce bidding expected for Fernvale condo site especially after last year's incredible success of High Park Residences situated nearby. Analysts expect the 99-year leasehold 17,196.4 sq m plot of land in Fernvale Road to draw between five and 10 bids from developers, with offers reaching as high as $272 million.
Analysts expect keen competition, given better market sentiment and the blockbuster sales at High Park Residences. The project had sold 1,169 out of 1,186 units when they were released in July last year. As of last month, only 26 out of 1,390 units remained unsold.
Located near Thanggam LRT station and amenities including Sengkang Riverside Park and The Seletar Mall, this land site could yield about 605 private apartments.
Most of the condominium units near the Fernvale Road site were transacted at prices ranging between $970 psf and $1,060 psf, based on sales in the first seven months of the year. Property consultancy Edmund Tie & Company said URA Realis data showed the average unit price at High Park Residences was about $988 psf.
Analysts expect keen competition, given better market sentiment and the blockbuster sales at High Park Residences. The project had sold 1,169 out of 1,186 units when they were released in July last year. As of last month, only 26 out of 1,390 units remained unsold.
Located near Thanggam LRT station and amenities including Sengkang Riverside Park and The Seletar Mall, this land site could yield about 605 private apartments.
Most of the condominium units near the Fernvale Road site were transacted at prices ranging between $970 psf and $1,060 psf, based on sales in the first seven months of the year. Property consultancy Edmund Tie & Company said URA Realis data showed the average unit price at High Park Residences was about $988 psf.
Nearby condo project Rivertrees Residences enjoyed good sales from buyers who preferred living beside the river
It is the first of four confirmed list sites to be put up for sale under the Government Land Sales programme for this half of the year. Three other sites - in Perumal Road, West Coast Vale and Upper Serangoon Road - are also confirmed for sale by the end of the year.
"The launch of this tender is timely as it provides a window of opportunity for developers to shore up their land banks... Competition will be keen, especially from developers who have not been awarded any residential sites for the past few tenders," said Mr Desmond Sim, head of CBRE Research for Singapore and South-east Asia.
The tender closes at noon on Sept 27.
"The launch of this tender is timely as it provides a window of opportunity for developers to shore up their land banks... Competition will be keen, especially from developers who have not been awarded any residential sites for the past few tenders," said Mr Desmond Sim, head of CBRE Research for Singapore and South-east Asia.
The tender closes at noon on Sept 27.
A version of this article appeared in the print edition of The Straits Times on August 17, 2016, with the headline 'Fierce bidding expected for Fernvale condo site'.
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The prototype bus stop comes with free Wi-Fi, handphone charging points, bicycle parking and a swing.
A new smart concept bus stop designed by a group of architects from DP Architects (DPA) along Jurong Gateway Road aims to make daily commuting less boring, with free Wi-Fi, handphone charging points, e-books download, bicycle parking and even a swing.
Project Bus Stop re-imagines how people transit, interact and socialise in this public space featuring interactive smart boards that provide content and services such as bus arrival timings, a green roof and artwork by local illustrator Lee Xin Li.
Project Bus Stop’s features will be in operation for a year from this month, with the public encouraged to give feedback at AUDE@ura.gov.sg.
Project Bus Stop re-imagines how people transit, interact and socialise in this public space featuring interactive smart boards that provide content and services such as bus arrival timings, a green roof and artwork by local illustrator Lee Xin Li.
Project Bus Stop’s features will be in operation for a year from this month, with the public encouraged to give feedback at AUDE@ura.gov.sg.
Jurong Lake District will become Singapore's first “smart city” – to allow residents ultimate convenience.
The Jurong Lake District will become a mini version of a “smart city” – with more than 1,000 sensors deployed to control and monitor everything from traffic to street lights, and crowded buses. Jurong's residents will be able to use phone applications that can help them find sheltered walkways. Motorists stuck in a jam may find traffic light timings adjusted automatically to ease the gridlock.
Sensors will be deployed in parks to adjust the lighting based on factors such as the time of day and motion detection. Sensors will be able to detect illegal smoking and determine the cleanliness of public areas. Sensors on smartphones can even send data on how bumpy a bus ride is.
These are some of the 15 innovations to be tried out in Jurong as a test bed for Singapore’s push to be a “smart nation”. The upcoming Jurong Lake District will give Singaporeans a glimpse into the future.
Sensors will be deployed in parks to adjust the lighting based on factors such as the time of day and motion detection. Sensors will be able to detect illegal smoking and determine the cleanliness of public areas. Sensors on smartphones can even send data on how bumpy a bus ride is.
These are some of the 15 innovations to be tried out in Jurong as a test bed for Singapore’s push to be a “smart nation”. The upcoming Jurong Lake District will give Singaporeans a glimpse into the future.
A version of this article appeared on Propertyguru Online on August 19, 2016, with the headline 'Smart bus stop unveiled at Jurong Lake District'.
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Goodwood Grand is a beautiful luxury condo project in prime District 10 that delight many investors and buyers
Knight Frank’s Prime Global Cities Index for Q2 2016 ranked Singapore ninth globally with luxury home prices increasing by 7.9 percent in the year to June 2016. According to the property consultancy, prime property corresponds to the top five percent of the wider housing market in each city.
Vancouver topped the list for the fifth consecutive quarter, with prices of high-end homes surging by 36.4 percent. Other top performers in the second quarter include Shanghai (22.5 percent), Cape Town (16.1 percent), Toronto (12.6 percent), Melbourne (11 percent) and Sydney (10.2 percent) – all of which saw annual price growth reach double figures. Also in the top ten are Tokyo, Guangzhou and Seoul.
Vancouver topped the list for the fifth consecutive quarter, with prices of high-end homes surging by 36.4 percent. Other top performers in the second quarter include Shanghai (22.5 percent), Cape Town (16.1 percent), Toronto (12.6 percent), Melbourne (11 percent) and Sydney (10.2 percent) – all of which saw annual price growth reach double figures. Also in the top ten are Tokyo, Guangzhou and Seoul.
From PropertyGuru - 'S’pore luxury home prices up 7.9% in Q2' by Romesh Navaratnarajah on Aug 16, 2016
Knight Frank noted that majority of the top ten ranking cities have been on the receiving end of new cooling measures over the past year. In fact, the latest move by policy makers in Vancouver “to apply an additional tax for foreign buyers has mirrored some of the similar moves over the last few years in Asia-Pacific”, said Nicholas Holt, Asia Pacific Head of Research at Knight Frank.
Buyers love Sophia Hills in prime District 9 located on the top of the hill integrated with heritage and luxury
“Hong Kong and Singapore, most notably, have added 15 percent additional buyers stamp duties, while the Australian states of Victoria, Queensland and New South Wales have also recently introduced various additional levies for foreign buyers,” said Holt. “Whilst we have seen foreign buyers penalised in certain markets, in Vietnam and Indonesia for example, we have seen policy makers go the other way with recent moves to relax rules for non-nationals,” he added.
Meanwhile, Hong Kong has eclipsed Taipei to take the title of weakest-performing residential market. This comes as prime prices there dropped by eight percent in the year to June as supply increased and concerns over the slowdown in the local economy persisted.
Meanwhile, Hong Kong has eclipsed Taipei to take the title of weakest-performing residential market. This comes as prime prices there dropped by eight percent in the year to June as supply increased and concerns over the slowdown in the local economy persisted.
Extract from PropertyGuru - 'S’pore luxury home prices up 7.9% in Q2' by Romesh Navaratnarajah on Aug 16, 2016
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Thronging crowds of buyers at the latest new condo launch in Jurong by MCL Land - Lake Grande
Buyers of private property taking up deferred payment schemes will not be able to borrow as much as they thought they could, following a clarification in loan guidelines.
The Monetary Authority of Singapore (MAS) issued a circular to banks last week saying such schemes should be taken into account when calculating how much a buyer can borrow.
Under deferred payment schemes, introduced for completed projects such as OUE Twin Peaks in March, buyers can move into their new homes once they have exercised the option to purchase and made a small down payment. They will then have to pay the rest of the sum, usually through a loan, within one to three years, depending on the developer's rules.
The Monetary Authority of Singapore (MAS) issued a circular to banks last week saying such schemes should be taken into account when calculating how much a buyer can borrow.
Under deferred payment schemes, introduced for completed projects such as OUE Twin Peaks in March, buyers can move into their new homes once they have exercised the option to purchase and made a small down payment. They will then have to pay the rest of the sum, usually through a loan, within one to three years, depending on the developer's rules.
Thomson Impressions is another quality project that saw many buyers crowding its showflat
Buyers in standard purchases of completed properties have to pay the full sum within eight to 10 weeks.
But MAS said deferred payment schemes should be treated as a benefit for the buyer and, therefore, be taken into account when computing a mortgage. As "the borrower can use the deferred amount for other purposes during the deferral period, for example, investing the deferred amount for a return... MAS considers this a benefit to the borrowers", it said.
Financial institutions must now deduct these benefits from the purchase price in calculating how big a housing loan a person can take, added MAS, which provided a formula for banks to account for the value of such benefits.Under existing rules, assuming an 80 per cent loan-to-value ratio, a buyer can take out a $1.6 million loan for a $2 million property. But under the deferred payment scheme, assuming 90 per cent of the purchase price is deferred for a year, buyers can borrow only $1,587,328, said MAS.
But MAS said deferred payment schemes should be treated as a benefit for the buyer and, therefore, be taken into account when computing a mortgage. As "the borrower can use the deferred amount for other purposes during the deferral period, for example, investing the deferred amount for a return... MAS considers this a benefit to the borrowers", it said.
Financial institutions must now deduct these benefits from the purchase price in calculating how big a housing loan a person can take, added MAS, which provided a formula for banks to account for the value of such benefits.Under existing rules, assuming an 80 per cent loan-to-value ratio, a buyer can take out a $1.6 million loan for a $2 million property. But under the deferred payment scheme, assuming 90 per cent of the purchase price is deferred for a year, buyers can borrow only $1,587,328, said MAS.
Sims Urban Oasis is a hot city fringe project that saw brisk sales during its launch for its central location.
MAS added that rental guarantees, where developers give buyers the certainty of rental income for a set period, should also be treated as a benefit and be similarly accounted for when calculating loan amounts. This would apply, for example, to Hilltops, being developed by SC Global, which offers two-year guaranteed rental returns for the luxury Cairnhill project.
An OCBC spokesman said home buyers should be aware that banks will grant a loan based on the adjusted purchase price - that is, the price after the deduction of any discounts, rebates or benefits. Borrowers buying under the deferred payment scheme should be aware that their loan amounts will be reduced and be prepared for a bigger amount for down payment.
Said a CapitaLand Singapore spokesman: "Our stay-then-pay scheme remains attractive as it gives upgraders time to dispose of their existing residential property before taking up a mortgage for the private property, in which case the loan required would be smaller." Many buyers in Tower 2 units at Twin Peaks have opted for the deferred payment scheme but most have not yet applied for loans.
"Even with the benefit priced in, the scheme still gives good returns on investment if the buyer rents the unit out," said Mr Dominic Lee, a PropNex Realty branch district director who is marketing the property. "Some buyers who defer payment may also be anticipating loan-to-value changes down the road."
An OCBC spokesman said home buyers should be aware that banks will grant a loan based on the adjusted purchase price - that is, the price after the deduction of any discounts, rebates or benefits. Borrowers buying under the deferred payment scheme should be aware that their loan amounts will be reduced and be prepared for a bigger amount for down payment.
Said a CapitaLand Singapore spokesman: "Our stay-then-pay scheme remains attractive as it gives upgraders time to dispose of their existing residential property before taking up a mortgage for the private property, in which case the loan required would be smaller." Many buyers in Tower 2 units at Twin Peaks have opted for the deferred payment scheme but most have not yet applied for loans.
"Even with the benefit priced in, the scheme still gives good returns on investment if the buyer rents the unit out," said Mr Dominic Lee, a PropNex Realty branch district director who is marketing the property. "Some buyers who defer payment may also be anticipating loan-to-value changes down the road."
A version of this article appeared in the print edition of The Straits Times on August 16, 2016, with the headline 'Loan rules clarified for deferred home payment'.
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This city fringe condo - Sturdee Residences is popular with investors and buyers who prefers to live near the city
Sales of new private homes more than doubled in July at 1,091 units as developers sold more homes compared to 536 units in the previous month in June 2016 according to URA data on 15 August 2016. However, when compared against the 1,655 units sold in July last year, last month's new home sales were down by 34 per cent.
The stronger sales were were due in part to more projects launched during the month as URA's figures showed that 624 new units - excluding executive condominiums - (ECs) were launched for sale in July, compared with just 234 units in June. The suburban areas sold 825 new private homes followed by city fringe with 213 units and 53 units in the core central region.
The stronger sales were were due in part to more projects launched during the month as URA's figures showed that 624 new units - excluding executive condominiums - (ECs) were launched for sale in July, compared with just 234 units in June. The suburban areas sold 825 new private homes followed by city fringe with 213 units and 53 units in the core central region.
Top selling new condo in July was Lake Grande in Jurong, which sold 464 units at a median price of S$1,368 psf
The top selling new private residential project in July was Lake Grande in Jurong, which sold 464 units at a median price of S$1,368 psf. "Apart from Lake Grande, existing projects with unsold units also saw good traction in sales. In terms of pricing, we did not observe any sharp discount from June, so this was a case of underlying demand - buyers who've been sitting on the fence deciding to make a purchase," head of CBRE Research for Singapore and South East Asia Desmond Sim told The Straits Times.
Sol Acres EC is a popular choice among young couples because of its good location and family oriented facilities
July also saw a sharp rise in sales of new Executive Condo projects, with 830 units changing hands up from 232 Executive Condo units sold in June. Including ECs, a total of 1,921 new homes were transacted last month.
A version of this article appeared in the print edition of The Straits Times on August 15, 2016, with the headline 'Sales of New Private Homes More Than Double In July at 1,091 units'.
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Singapore continues to be an attractive destination for international investors, thanks to its stable political outlook, superior infrastructure and strong economic fundamentals.
Indonesia's Mayapada Group has proposed buying the Straits Trading Building in Battery Road for $560 million - a sum that would set a new PSF price record in Singapore for the 999-year leasehold Grade A office building in the heart of the Central Business District (CBD) from Sun Venture Group. The $560 million price works out to a record of about $3,520 psf based on the net lettable area of 158,897 sq ft surpassing the $3,125 psf for 71, Robinson Road, which was sold in 2008.
Mayapada Group already has two freehold commercial properties in Singapore - ABI Plaza in Keppel Road and MYP Plaza in Cecil Street, and is believed to be moving from the assets on the fringe of the financial district to the heart of the CBD. The Straits Trading Building will be a crown jewel in their commercial portfolio.
Indonesia's Mayapada Group has proposed buying the Straits Trading Building in Battery Road for $560 million - a sum that would set a new PSF price record in Singapore for the 999-year leasehold Grade A office building in the heart of the Central Business District (CBD) from Sun Venture Group. The $560 million price works out to a record of about $3,520 psf based on the net lettable area of 158,897 sq ft surpassing the $3,125 psf for 71, Robinson Road, which was sold in 2008.
Mayapada Group already has two freehold commercial properties in Singapore - ABI Plaza in Keppel Road and MYP Plaza in Cecil Street, and is believed to be moving from the assets on the fringe of the financial district to the heart of the CBD. The Straits Trading Building will be a crown jewel in their commercial portfolio.
Crown at Robinson in CBD district of Robinson Road has attractive freehold strata office units for sale
Sovereign wealth fund, Qatar Investment Authority (QIA), has agreed to buy Asia Square Tower 1 in Singapore's Marina Bay business and financial district from US private equity giant BlackRock for a record US$2.45 billion (S$3.4 billion) marking the biggest deal in Singapore in terms of dollar amount and square footage with QIA paying US$1,960 (S$2,667.5) per square foot.. According to data compiled by JLL, the sale represents the largest single-tower real estate transaction in Asia Pacific to date, and the second-largest single-tower real estate transaction globally.
Asia Square Tower 1 is a 43-storey tower comprising more than 1.2 million square feet of Grade A office space and nearly 40,000 square feet of retail space. Current tenants of Asia Square Tower 1 include financial services companies Citibank and Julius Baer as well as insurance firm Marsh & McLennan.
Asia Square Tower 1 is a 43-storey tower comprising more than 1.2 million square feet of Grade A office space and nearly 40,000 square feet of retail space. Current tenants of Asia Square Tower 1 include financial services companies Citibank and Julius Baer as well as insurance firm Marsh & McLennan.
Offices in city fringe locations are attractive to investors looking for good buys
Following this massive deal, there will be increased investor interest in Singapore prime office stock in the coming months with a growing demand from global investors looking for major single asset opportunities in the region such as Asia Square.
Consolidated from the print edition of The Straits Times on June 02, 2016, with the headline 'Indonesian tycoon offers $560m for building in CBD' and 'Sovereign wealth fund Qatar Investment Authority buys Asia Square Tower 1 for record $3.4b' on June 06, 2016
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The only mixed commercial and residential plot tender under the Government Land Sales programme for the first half of this year in Bukit Batok - has attracted an amazing 11 bids with the top bid of $301 million or $635 per square foot per plot ratio (psf ppr) submitted by Qingjian Realty (South Pacific) Group. This shows developers' hunger for land and their faith in Singapore's future.
Lake Grande is a highly anticipated new launch near the Jurong Gateway & Jurong Innovation District
At the moment, the built-up density in the surrounding areas is low, and bidders are probably looking to gain a first-mover advantage when this precinct starts to intensify through future developments (such as) the upcoming Jurong Innovation District.
The upcoming High Speed Rail linking Jurong to KL within 90 mins makes the west seem exciting
If the site is awarded to Qingjian, it will be the developer's first mixed development project in Singapore, and its second successful land acquisition for private housing development this month. Qingjian had just announced that it had entered into a sales and purchase agreement with the residents of Shunfu Ville, at a collective price of $638 million. Qingjian said in a statement that it expects to build about 500 condo units at the Bukit Batok site, which has a gross floor area of 44,091 sq m with breakeven prices for the residential units estimated from $920 to $980 psf.
There are few new 99-year leasehold private non-landed residential developments near the Bukit Batok site, but the median transacted prices of units in three such condominiums (Hills TwoOne, Hillsta, and Kingsford Hillview Peak) in the Bukit Batok planning area ranged from $1,199 to $1,326 psf in January to May last year.
There are few new 99-year leasehold private non-landed residential developments near the Bukit Batok site, but the median transacted prices of units in three such condominiums (Hills TwoOne, Hillsta, and Kingsford Hillview Peak) in the Bukit Batok planning area ranged from $1,199 to $1,326 psf in January to May last year.
Extracted from Today Online article on 25 May 2016: Bukit Batok mixed-use site draws top bid of S$301.2m from Qingjian
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Shunfu Ville was sold for S$638 million on 19 May 2016, marking the third largest en bloc by quantum in Singapore. Each owner of the 358-unit condo, which lies less than 200 metres from Marymount MRT Station, stands to get around S$1.78 million. The 358-unit project was first put on sale in September with an asking price of at least $688 million or $791 per sq ft (psf) per plot ratio. The tender closed last October with no formal bids. It was relaunched for tender at the same price in late January.
This is Qingjian Realty's first en bloc purchase in Singapore since it began developing projects in Singapore eight years ago, and it succeeded with an offer that was below the reserve price of S$688 million.
Shunfu Ville, built in the late 1980s by the former Housing and Urban Development Company (HUDC) and privatised in 2013, sits on a 408,927 sq ft site with about 70 years left on its lease and a plot ratio of 2.8. The site can yield about 1,100 units with an average size of 1,000 sq ft, while break-even cost could be about S$1,250 psf, with new units fetching S$1,400 to S$1,500 psf.
This is Qingjian Realty's first en bloc purchase in Singapore since it began developing projects in Singapore eight years ago, and it succeeded with an offer that was below the reserve price of S$688 million.
Shunfu Ville, built in the late 1980s by the former Housing and Urban Development Company (HUDC) and privatised in 2013, sits on a 408,927 sq ft site with about 70 years left on its lease and a plot ratio of 2.8. The site can yield about 1,100 units with an average size of 1,000 sq ft, while break-even cost could be about S$1,250 psf, with new units fetching S$1,400 to S$1,500 psf.
183 Longhaus is an attractive new launch near Shunfu Ville that is attracting buyers.
Property consultants said Qingjian's bid was a sign of returning interest in en bloc opportunities owing to limited land banks on offer here, especially as the Government had cut back on its land sales programme. Despite the prevailing slow market, developers are confident of Singapore's property market in the longer term.
Qingjian was also the developer of Natura Loft (2008), Nin Residence (2010), RiverParc Residence (2011), Riversound Residence (2012), River Isles (2012), Waterbay (2012), Ecopolitan (2013), Bellewoods (2014), Bellewaters (2014) and The Visionaire (2016). Qingjian hopes to build over 1,000 homes at this site in Bishan-Thomson area.
The last collective sales of this scale were of the former Farrer Court for about S$1.34 billion and former Leedon Heights for S$835 million, both in 2007.
Qingjian was also the developer of Natura Loft (2008), Nin Residence (2010), RiverParc Residence (2011), Riversound Residence (2012), River Isles (2012), Waterbay (2012), Ecopolitan (2013), Bellewoods (2014), Bellewaters (2014) and The Visionaire (2016). Qingjian hopes to build over 1,000 homes at this site in Bishan-Thomson area.
The last collective sales of this scale were of the former Farrer Court for about S$1.34 billion and former Leedon Heights for S$835 million, both in 2007.
Thomson Impressions is also seeing a good response from buyers who like the Thomson Bishan area.
Extracted from Straits Times article 'Shunfu Ville sold for $638m to Qingjian, each owner to pocket $1.78m' on 20 May 2016.
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The resale volume of private non-landed homes last month shot up to the highest level in almost three years, according to flash estimates from SRX Property. This coincided with a second straight month of rising prices of private non-landed homes, a phenomenon last seen in December 2013 and January 2014.
But while it seems momentum has picked up somewhat for the resale market, values are still weaker compared with a year back and volumes far lower than earlier peaks.
Both private apartment and Housing Board flat resale volumes last month were the highest in about three years, according to flash estimates from SRX Property. Some of the resale transactions included developer sales of completed stock, where price cuts and creative methods of structuring payments have proved successful in selling units.
But while it seems momentum has picked up somewhat for the resale market, values are still weaker compared with a year back and volumes far lower than earlier peaks.
Both private apartment and Housing Board flat resale volumes last month were the highest in about three years, according to flash estimates from SRX Property. Some of the resale transactions included developer sales of completed stock, where price cuts and creative methods of structuring payments have proved successful in selling units.
Hills TwoOne - a freehold project in D23, expected to TOP by 3rd Qtr 2016 is seeing increased buying interest
An estimated 689 private non-landed homes were resold last month, up 17.6 per cent from March and 28.1 per cent higher than in April last year, SRX Property found. This figure was the highest since 726 units were resold in May 2013.
Rivertrees Residences - a beautiful condo beside the river with transport and amenities nearby is attracting buyers
The increase in transactions could signal that there are still buyers out there with the ability to buy. These could be people who were waiting for the right price to enter the market. And some after hearing the Budget report in parliament, believes that there would be no changes to cooling measures, encouraging investors who have been on the sidelines to act.
Resale prices of private non-landed homes rose 0.5 per cent in April from March, after rising 0.1 per cent in March. But they are still 0.5 per cent lower compared with a year back.
In individual sectors, core central region prices rose 0.7 per cent month on month, rest of central region prices rose 1.3 per cent, and outside central region or suburban prices fell 0.2 per cent.
Projects which registered the most resale transactions were OUE Twin Peaks in Leonie Hill, A Treasure Trove in Punggol Walk, D'Leedon in Leedon Heights, Double Bay Residences in Simei, Parkview Apartments in Bukit Batok, Thomson 800 in Thomson Road and Caribbean at Keppel Bay.
Resale prices of private non-landed homes rose 0.5 per cent in April from March, after rising 0.1 per cent in March. But they are still 0.5 per cent lower compared with a year back.
In individual sectors, core central region prices rose 0.7 per cent month on month, rest of central region prices rose 1.3 per cent, and outside central region or suburban prices fell 0.2 per cent.
Projects which registered the most resale transactions were OUE Twin Peaks in Leonie Hill, A Treasure Trove in Punggol Walk, D'Leedon in Leedon Heights, Double Bay Residences in Simei, Parkview Apartments in Bukit Batok, Thomson 800 in Thomson Road and Caribbean at Keppel Bay.
A version of this article appeared in the print edition of The Straits Times on May 11, 2016, with the headline 'Resales of private non-landed homes jump'.
