Discover upcoming condo launches in Singapore

March and April 2016 saw a surge in interest and buying sentiment for new Executive Condominiums, new residential condominium projects in Singapore as property buyers accept the fact that cooling measures are here to stay for a while more as the government reiterated its stance against tweaking the cooling measures leading to brisk sales at recent launches and existing projects resulting in a spike in sales.

Top sales figures for March and April 2016:

• The Terrace EC in Punggol sold more than 74 units over both months. The total sales volume could be higher as the caveats in the last week of April have yet to be published.
  
• The Amore, The Vales and The Brownstone moved at least 69, 62 and 58 units respectively in March and April.
  
• Wandervale EC sold all 82 of its four-bedroom units
  

The Amore, along with The Terrace, The Brownstone, Bellewaters and Bellewoods, are among the few remaining EC projects where buyers are exempted from paying a resale levy as the sites were launched before Dec 9, 2013.

In the private residential segment, the five bestselling existing projects moved between 40 and 90 units each over March and April. In the same period last year, sales volume for the five bestselling existing projects generally hovered in the 40 to 50 unit region each. One- and two-bedroom units dominated sales activity, which came as no surprise given the punitive nature of the ABSD and lending regulations on pricier units.

Among the existing launches, these projects below topped the sales chart in March and April 2016:

• The Poiz Residences topped the sales chart in March and April with at least 91 units sold.
  
• Kingsford.Hillview Peak sold at least 79 units
  
• Botanique at Bartley sold at least 74 units
  
• Kingsford Waterbay, Lakeville, Sims Urban Oasis, Sky Vue, Symphony Suites, The Glades and The Trilinq moved 30 to 40 units each over March and April.
  

At new launches, Qingjian Realty is understood to have sold more than 160 units at The Visionaire. The EC project was launched in April and positioned as the next-generation smart home. Sim Lian Group has sold over 300 units at its Wandervale EC, which was launched in March. Buyers also snapped up 122 of the 305 units in Sturdee Residences at its VIP preview on April 23 weekend.

- Extracted from The Edge Property online.

Sturdee Residences was one of the most hotly contested piece of real estate, with a total of 16 developers placing their bids to secure it - indicating the prime location of this land parcel. Sturdee Residences was eventually won by Sustained Land Capital.

On 23 April 2016, Sturdee Residences held their much anticipated preview and sold 122 units out of their whole total of 305 units available from $1,4xx psf onwards, with a overall average at $1,550 psf.

843 new homes were recorded sold last month seeing the demand for new private homes shoot up to an eight-month high figure on the back of better market sentiment due to the expectation that the Government would not lift measures in the near future probably nudged those sitting on the fence to commit to a purchase.

This market sentiment together with a surge of new launches probably pushed the sales figure in March to be more than double the 303 units sold in February and the highest monthly sales since 1,655 homes changed hands in July 2015, according to Urban Redevelopment Authority (URA). The figures here exclude executive condominiums (ECs).

In March 2016, developers launched 682 new private homes last month, including The Poiz Residences, Cairnhill Nine and The Wisteria - much more than February's 209 units.

CapitaLand's Cairnhill Nine, near Orchard Road, was the top performer, selling 177 units out of the 200 units launched at a median price of $2,441 psf. This was followed by Northern Resi's The Wisteria in Yishun, which sold 125 of 216 units at a median price of $1,112 psf. The Poiz Residences sold 59 units with a median price of $1,475 psf.

"Overall, developers' priced-to- sell strategy seems to have borne fruit. The rally in the stock market and an overall improved market sentiment in March have also lifted sales volume in existing launches," noted Cushman & Wakefield research director Christine Li.

The spike in transactions last month lifted private new home sales to 1,470 units in the first quarter, up from 1,379 in the same period last year, but lower than the 1,692 units sold in the fourth quarter of 2015.
Mass market homes or those in the suburban areas remained the most popular, with 461 new units sold last month, driven largely by The Wisteria. There were 210 units moved in the city centre, thanks to Cairnhill Nine, while 172 homes in the city fringes were sold.

A lesser known government land sale (GLS) land parcel near Sembawang Park at Jalan Kandis attracted a impressive 9 bids on 7 April 2016 from small and large developers, like Nanshan Group Singapore Co, KSH Development, Allgreen Properties and TA Corporation - showing the affordable nature of the land price and the attraction of its location, although the site is not near transportation nodes or amenities.

Dillenia Land, a unit of Tuan Sing Holdings, submitted the top bid of about $51.1 million, or $481 per sq ft per plot ratio, for the 0.7ha plot slightly higher than the second-highest bid of $50.2 million by China developer - Qingjian Realty.

Business Times reported William Liem, chief executive of Tuan Sing Holdings saying they propose an exclusive project in a quiet, green estate near the water with about 130-140 units (two bedrooms and larger units) targeting primarily at families, launching by end of 2016. They estimate to price between $1,000 - $1,100 psf to attract upgraders from nearby estates in the Sembawang and Canberra area.

Desmond Sim, head of CBRE Research told the Business Times that when completed, this project will be the only non-landed project within a two-km radius in a precinct that is predominantly landed.

Tuan Sing chief financial officer Chong Chou Yuen noted after yesterday's tender closing that while the company has land bank in China and Perth, it has none left in Singapore. In fact, we currently see many developers with low or no land bank for development in Singapore especially where are also fewer GLS land tender sales this year compared with last year or 2014.

Many of us remember the 39 years old Rochor Centre Complex as a nostalgic place rich in culture and tradition.

For land scarce Singapore, changes to our landscape is a norm to be expected by Singaporeans, just as the government's announcement that the 39-year-old Rochor Centre Complex will make way for the upcoming North-South Expressway that will reduce traffic jams and assist in cutting down the travelling time on the road.

This year 2016, come September, the Rochor Centre Complex with its four iconic blocks - painted green, yellow, blue and red - will be consigned to the pages of history, just like Outram Park Complex, and many others.

Signs of abandonment e.g. unwanted television, cupboards, mattresses and bulky household items at the void decks with a stench of urine at deserted corners. The place is quiet with no one in sight.

A DBSS five-room hdb flat with a area of 119 sqm at Block 8 on the top floor of City View @ Boon Keng has been transacted for more than $1 million, according to Shin Min Daily News.

From the Housing Board's website, records show that eight flats changed hands at the Design, Build and Sell Scheme (DBSS) development between January and March at prices ranging from $833,300 to $1,004,888.

Last month, a buyer offered $1,028,000 for a five-room unit, also on the highest floor of one of the three 40-storey blocks, but the transaction has yet to be completed. City View @ Boon Keng is the second DBSS project after The Premiere @ Tampines, was launched in 2008, with each unit going for between $349,000 and $727,000.
It has condominium-like features including large bay windows and lift lobbies with card access systems. It is also located near Boon Keng and Bendemeer MRT stations and boasts views of the Kallang River.

                                                                                                           - Extracted from Asia One Business

Are you searching for a brand new residential condominium that will TOP by this year and satisfying all these important criteria below?

* Reputable local developer
* Within short walking distance to MRT station
* Within 5 mins walk to amenities, eateries and shopping
* Quality finishings
* Near parks or park connectors

I have searched the market and shortlisted these quality residential developments that are expected to TOP by this year and each of them offers more than the above criteria for your consideration below:

The Jewel @ Buangkok is developed by reputable City Developments Limited (CDL) and just a short 4 mins walk to Buangkok MRT (NEL) station  allowing residents to find commuting a breeze, regardless of where you want to be. The area is also well served by the Central Expressway (CTE), Kallang-Paya Lebar Expressway (KPE) and Tampines Expressway (TPE).

The Jewel @ Buangkok is also less than 500 metres walk to Kopitiam food court, eateries, bakeries, amenities, shops, 24 hour NTUC supermarket and clinics. There are also nearby parks and park connectors for residents who enjoy jogging or green spaces.

The URA masterplan showed future development of an integrated bus interchange beside Buangkok MRT station. This will bring much joy and convenience as well as potential upside to properties nearby.

With only a short 5-minute walk to Pasir Ris MRT, Coco Palms is the final development in Pasir Ris Grove nearest to Pasir Ris MRT. A stunning residential development by City Developments Limited, Coco Palms is designed with inspiration from the world’s best resorts in the Maldives, Caribbean and Fiji seamlessly combining home comforts with the relaxing charms of a luxury beach resort. Designed with sustainability in mind, Coco Palms has achieved the BCA Green Mark GoldPLUS Award.

The Skywoods is a beautiful new launch residential development along Dairy Farm road, in the Bukit Timah enclave, set amidst lush greenery environment and with a picturesque view of forested area such as Dairy Farm Park and Bukit Timah Nature Reserve catering to the affluent lifestyle of the locality. The Skywoods offers residents unblocked panoramic view of both Dairy Farm Park and Bukit Timah Nature Reserve within 5 mins walk to the new Hillview MRT (DTL) and amenities, e.g. The Rail Mall.

Rezi 3Two is a rare new launch freehold project located in the city fringe at District 14. Rezi 3Two's city fringe location combined with its proximity to Dakota MRT Station (Circle Line), heading anywhere is a breeze for its residents plus eateries, amenities, cafes, supermarket and restaurants nearby. The nearby park connector is delightful for a leisurely stroll or a healthy jog / run along the Kallang River leading to Kallang Sports Hub and The Gardens by the Bay. Residents of Rezi 3Two commute easily to Central Business District (CBD), Marina Bay Sands (MBS), Shenton Way or even Suntec city.

This year - 2016, Singapore's Finance Minister Heng Swee Keat delivered his first Budget in Parliament on March 24. Here are key points from Budget 2016 that may interest you:

• Setting up of 'Our Singapore' fund. Like the SG50 fund, it will support projects that build the spirit of resilience and promote unity and sense of being Singaporean. The fund size is $25m and will be set up by 2H16.
• From 1 July 2016 to end-2018, business that help employees volunteer will receive 250% tax deduction.
• Pilot community networks for seniors will be established in order to encourage seniors to stay active, healthy and meaningfully engaged.
• Seniors will continue to receive other support like elder care subsidies and GST vouchers, which comes on top of support received from their children.
• Silver Support Scheme will cover up to 30% of seniors. Modest but meaningful supplement to retirement incomes. Not to substitute other forms of support like personal/family savings.
• Worker Income Supplement (WIS) scheme: Raise qualifying income saving to $2,000 per month, which will help bottom 20% income workers. Qualifying criteria will also be simplified, and payout systems will be enhanced. Now, workers will see quicker payouts, monthly instead of quarterly thus benefiting up to 460,000 Singaporeans.
• New outdoor campus will be built on Coney Island, in order to foster a spirit of adventure among children, build confidence and build team spirit across schools. This is expected to be ready 2020 and cost $200m.
• The Fresh Start Housing Scheme: provide grant 35k to let families with kids own a flat with shorter lease. To qualify, parents need to stay employed and make sure kids attend school.
• Parents to get $3,000 in Child Development Account of babies born from March 24
• Government will set aside $4.5b under the industry transformation program to support enterprises and industries. This will include increased funding for SPRING, IE Singapore, and the Economic Development Board to support economic development.
• Infrastructure development will see a further $1 billion top-up to the Changi Airport development fund. Enhancement of R&D capability will mean $40 billion will be directed towards industry collaboration, with a top-up fund of $1.5b to enterprises.
• To promote startups in new and existing industries, a new entity called SG Innovate to help link startups with mentors, venture funding. SG Innovate will build over what has been done to expand accelerator programs to new industries.

• SPRING will partner with Trade Associations and Chambers (TACs) on 30 projects to reach 3,000 SMEs. The government will provide $30m over the next 5 years to support Trade Associations and Chambers (TACs).

• National Robotics Program: Solution providers will offer cheaper packages for SMEs. It can help create value added jobs in various sector such as healthcare, construction, manufacturing, logistics. The government will provide $450m in support of the national robotics program over the next 3 years.
• The government will provide an automation support package for an initial period of 3 years. Currently, there are no incentives to promote automation. The government will shoulder up to 50% of the cost of qualified automation projects, with a maximum grant of $1m. Qualifying projects will also receive 100% allowance for automation equipment. Access to loans will also be improved.
• A business grants portal will be launched in the fourth quarter of 2016. Firms will not need to go from agency to agency to access incentives. Various support schemes will be reviewed and simplified.
  

Land Transport Authority announced on 21 March 2016 that they will build the world's first: four-in-one rail and bus depot in East Coast for S$1.99 billion by 2024. At the East Coast Integrated Depot, the train depots for the East-West Line (EWL), the Downtown Line (DTL) and Thomson-East Coast Line (TEL) will be stacked on top of each other, with a bus depot located next to them, in total occupying about 36 hectares of land housing up to 220 trains and 550 buses. Doing this will save 44 hectares of land, equivalent to 60 football fields. Work is expected to begin in the second quarter of 2016 and be completed by 2024.

Since we are on the topic of Singapore exciting future development in the East, below are two good projects in District 15 that you may want to consider if you are hunting for a nice new launch property either for investment or own stay. These two properties have good potential upside and are very near to upcoming MRT stations along the Thomson East Coast Line (TEL) with amenities.

Despite slowing economies and our strong Singapore currency, Mainland Chinese and Malaysian buyers bought 1,952 private homes in 2015, or 54 percent of total foreign purchases in 2015, that is more than half of the total purchases made by foreigners for properties in Singapore.

Chinese nationals accounted for 998 private home purchases and Malaysian home buyers accounted for 954 private homes in Singapore. Many mainland Chinese also bought homes for their children studying in Singapore.

Even after the devaluation of the Chinese yuan in August 2015 which resulted in a reduction of the purchasing power of mainland Chinese, they are still attracted to Singapore's properties due to Singapore’s political stability, transparent real estate policies and strict rule of law. Investors value these factors when deciding where to invest their money as they would want to enjoy a higher level of certainty on returns.

However, it is interesting to note that the number of Indonesian home purchases fell greatly by 33.6 percent to 279 units in 2015, much lower than the figure of 618 homes bought by Indonesians in 2008 during the global financial crisis.

Freehold city fringe projects near MRT & amenities like Rezi 3Two which is expected to TOP around June this year in 2016 is a good investment choice for good returns.