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Keppel South Central, an all-new 33-storey commercial tower at former Keppel Towers site is 3 minutes walk from The Pinnacle at Duxton offering 650,000 sqft of Grade A offices, amenities, retail & event spaces - Keppel
Launched in May 2023 by highly reputable developer Keppel Corp - Keppel South Central will be an all-new 33-storey commercial tower at the former site of Keppel Towers located in Tanjong Pagar that is highly anticipated to be a hallmark development and a flagship commercial tower in the Greater Southern Waterfront District.
Strategically situated at the gateway to the Greater Southern Waterfront District, Keppel South Central will offer about 650,000 square feet of technology-forward spaces – comprising Grade A offices, flexible workspaces, retail and event spaces as well as a diverse range of indoor and outdoor amenities, including a social kitchen.
“We are excited to launch Keppel South Central, a next-generation smart and super low energy building designed for the talents of tomorrow. With its innovative, flexible and customer-centric urban space solutions, including round-the-clock facilities, Keppel South Central will enable people to work anywhere, anytime, in the way that they want, paving the way as the workplace of the future.” - said Mr Louis Lim, CEO, Real Estate Division of Keppel during the launch last year.
The Keppel South Central building is a recipient of the BCA Green Mark Platinum Super Low Energy Award for its myriad innovative and green features. These include a high-performance facade system that will significantly reduce the amount of solar heat gain in the building, smart building management systems, rainwater harvesting systems, as well as the use of renewable energy.
The Pinnacle @ Duxton's unique appeal is attributed to its central location, unique architectural design and quality of living it offers in Tanjong Pagar, being in close proximity to a plethora of amenities and city center
The Pinnacle @ Duxton
The Pinnacle @ Duxton is a unique example of how innovative design can be incorporated into public housing projects. Challenging traditional perception of public housing and setting a new standard for high-quality, aesthetically pleasing public housing, The Pinnacle at Duxton offers breathtaking panoramic views of the city skyline in the heart of Singapore's city center.
The Pinnacle @ Duxton's unique and innovative design is renowned internationally. Consisting of seven connected towers with sky gardens bridging the towers at different levels, this distinctive architecture has garnered much international acclaim and admiration. Spanning 500m each, the sky gardens are located at the 26th and 50th floor connecting the 7 towers, offering panoramic views of the cityscape. The one on the 26th floor is exclusive to residents, but there is an entrance fee of S$6 per member of the public to access the 50th-storey sky bridge via a turnstile gantry on most days from 9am to 10pm (free for residents of The Pinnacle @ Duxton who have magnetic access cards allocated to each household).
One Bernam is a new mixed condo with retail and dining options beneath the residential tower, two levels of Sky Terraces and a hanging Garden Bridge beside 100am shopping mall and the upcoming Keppel South Central
Keppel South Central, located along Hoe Chiang Road is only a short walk to Tanjong Pagar MRT station and the upcoming Prince Edward Road MRT station, which is set to open on the Circle Line in 2026.
Slated for completion in 4Q 2024, Keppel South Central will be designed as a vertical park, with workspaces built in featuring a mix of alternative workspaces and amenities that seamlessly connect indoor and outdoor spaces. It will be 5G-enabled and fitted with leading-edge technologies, including facial recognition access, as well as smart lighting and micro-zoned air conditioning systems in designated areas that cater for 24/7 business operations.
"I expect the prices of residential properties nearby to see an upside once the iconic Keppel South Central opens for business. Keppel South Central does not have residential units and its purely commercial. With the completion of Keppel South Central expected by the end of this year, it will be like having Guoco Tower mall and offices 'shifted' right to the doorstep of The Pinnacle at Duxton," said Kiwi Lim, real estate agent from the largest private real estate agency in Singapore. "One Bernam - which is a new mixed condo development with retail and dining options beneath the residential tower, two levels of Sky Terraces and a hanging Garden Bridge located right beside 100am shopping mall and the upcoming Keppel South Central is seeing an increase in enquiries from home owners and investors."
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More home buyers seem to be setting their sights on resale flats as private home prices and mortgage rates remain high.
"In just the first three weeks of this month in January 2024, more than 60 'million dollar' HDB resale flats were transacted" said Kiwi Lim, real estate professional from the largest private real estate agency in Singapore - Huttons Asia. "if this trend continues, I expect to see close to 1,000 units of HDB resale flats sold above the million dollar mark this year in 2024."
Last year, in 2023, there were a total of 470 flats that were sold for S$1 million or more, which was 27.4 per cent higher than the number sold in the previous year of 2022. It is important to note that million dollar flats only accounted for a tiny portion - equivalent to 1.8 per cent of the total transactions in 2023.
4-room resale HDB near Buangkok MRT in Sengkang area sold for S$808,888
A record-breaker for 4-room HDB transactions in Sengkang Central near Buangkok MRT was recently sold for S$808,888. Situated near Buangkok MRT in Block 272A, this spacious 969 square feet 4-room flat is located on a high floor between the 13th to 15th floors at around S$834 per square foot. TOP in 2009, this 15 year old 4-room HDB flat still has 84 years of remaining lease left.
Sengkang may see its first million dollar flat transacted in the market soon, since its last 5-room premium transacted last month was at S$963k. Sengkang Central, specifically Buangkok area has attracted a lot of keen interest from buyers especially after the opening of Sengkang Grand shopping mall managed by Capitaland, the recently opened and very popular hawker center as well as the upcoming community centre and bus interchange. Buangkok vicinity has become a prime location with great accessibility with Buangkok MRT station within a stone's throw away and 24 hour NTUC supermarket and 24 hour Kopitiam plus lots of eateries and amenities.
Record $1.568 mil transacted for a 5-room HDB DBSS in Toa Payoh
A 5-room Design, Build and Sell Scheme (DBSS) at The Peak @ Toa Payoh which was completed in 2012 situated at 139A Lorong 1 Toa Payoh located between the 40th to 42nd floor was transacted for S$1,568,888 in January this year, breaking the record for the most expensive resale flat sold in Singapore. The Peak @ Toa Payoh consists of two blocks of 42 storeys each and three blocks of 40 storeys each, with a total of 1,203 units, ranging from three-room to five-room flats. A five-room unit at The Peak @ Toa Payoh ranges in size from 1,184 square feet (sq ft) to 1,259 sq ft.
The Design, Build and Sell Scheme (DBSS) was a public housing program in Singapore introduced by the Housing and Development Board (HDB). It was launched in 2005 to provide an alternative housing option for the middle-income population. The DBSS flats were built by private developers, in contrast to the typical public housing flats that are constructed by HDB.
The DBSS scheme faced criticism over the years due to various reasons, including concerns about the affordability of these flats and the perception that some projects were priced too high for their target audience. In 2011, the Singapore government announced a temporary suspension of the DBSS program to review its policies and there hasn't been any new development of DBSS flats since then.
There are currently 13 Design, Build and Sell Scheme (DBSS) projects in Singapore.
Over the last five years, prices of four-room flats in Singapore have risen by about 35 per cent, climbing slightly faster than that of five-room HDB resale flats. Despite the climbing price range, four-room flats are still more highly sought-after than other Housing and Development Board (HDB) flat types amid a booming property market.
Four-room flats are selling faster than five-room flats as 4-room flats are still relatively more affordable than the larger 5-room HDB flats, EM or EA flats. 4-room flats also appeal to younger families and some seniors who are looking to right size to a smaller home.
Home buyers who felt priced out of private residential homes may be switching their attention towards HDB resale flats as prices of private residential properties rose 6.8 per cent in 2023 which is slightly lower than the 8.6 per cent increase of private home prices the year before in 2022.
"I believe private home prices will stabilise in 2024 as home buyers are increasingly worried about macroeconomic uncertainty even though interest rates are not expected to rise" said Kiwi Lim "prices of private residential homes may see an average price increase of about 3% this year, however, I expect HDB resale prices to see a much higher percentage of price increase in 2024 as compared to private homes."
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The strong take-up rate for Lumina Grand reflects the keen interest among first-time buyers and HDB upgraders for well-located and thoughtfully designed properties
As at 12 pm today on 28 January (Sunday), City Developments Ltd (CDL) announced that Lumina Grand executive condominium (EC) sold 53 per cent of its total number of units on the first weekend of the launch of possibly the only new EC project in 2024 at an average price of S$1,464 per square foot (psf).
A total of 269 units which is equivalent to 53 per cent of 512 total available units at Lumina Grand EC were sold following the development’s official launch the day before. An early bird discount of S$8,000 was offered for all unit types on Saturday by the developer City Developments Ltd (CDL).
The full quota limit for second-time home buyers was also reached for Lumina Grand EC during the initial launch. Under government regulations for executive condos, only 30 per cent of the EC project can be allocated to second-time buyers.
As usual, larger units like the three-bedroom premium and four-bedroom units were the most popular, and some buyers even “snapped up the rare high-ceiling penthouses”, said the developer City Developments Ltd (CDL).
The three-bedroom units ranged from 936 sqft priced from S$1.338 million, while the three-bedroom premium units were priced from S$1.388 million. Four-bedroom units were sold for S$1.628 million and the 1,496 sqft typical five-bedroom units sold from S$2.098 million.
An additional 3 per cent was applied to the average launch price for units sold under the deferred payment scheme.
Lumina Grand EC - possibly the only EC project to be launched in 2024
The Lumina Grand Executive Condominium (EC) site at Bukit Batok West Avenue 5 drew attention from developers with a total of four bids, making it a closely contested plot in September 2022. City Developments Limited (CDL) came out on top, winning the bid at an offer of $336.068 million. The land rate was calculated at $626 per square foot per plot ratio (psf ppr), slightly higher than the second-highest bid of $625 psf ppr from Sim Lian Group.
Lumina Grand EC is conveniently situated at the junction of Bukit Batok West Avenue 5 and Bukit Batok Road near the upcoming Tengah Town. The project comprises 10 residential blocks of 12 to 13 storeys on a land parcel site area of around 179,000 sqft within walking distance to quite a few good schools, e.g. St Anthony’s Primary School, Dunearn Secondary School – as well as the future Bukit View Primary School and Anglo-Chinese School (Primary) which was relocated from Bukit Timah.
What are Executive Condominiums (ECs)?
Executive condominiums (EC) are a type of housing in Singapore that combines elements of public and private housing, catering to the needs of the "sandwich class" which includes households whose income exceeded the eligibility for subsidized public BTO housing but yet find private residential condos out of their financial reach.
Below are some key requirements and features associated with Executive condominiums in Singapore:
- Eligibility Criteria:
- Citizenship: At least one of the applicants must be a Singapore citizen.
- Age: Both applicants must be at least 21 years old.
- Family Nucleus: ECs are typically available for purchase by Singaporean families, including singles, married couples, or families with children.
- Income Ceiling:
- There is an income ceiling for EC eligibility. The combined monthly household income of all persons listed in the EC application must not exceed $16,000 per month to be eligible to purchase an EC.
- Ownership of Property:
- Applicants must not currently own any private residential property and not have disposed of any private residential property within 30 months before the EC application.
- Minimum Occupation Period (MOP):
- EC buyers are required to occupy the unit for a Minimum Occupation Period, which is usually five years. During this period, the EC cannot be sold or rented out.
- Balloting System:
- Due to the high demand for ECs, the selection of eligible buyers is often done through a balloting system. Applicants who meet the eligibility criteria enter a lottery system for a chance to purchase an EC unit.
- Design and Facilities:
- ECs are designed to offer amenities and facilities similar to private residential condominiums. They often include features such as swimming pools, gyms, and landscaped areas.
- Resale Restrictions:
- There are resale restrictions on EC units during the MOP. After the MOP, the EC can be sold to Singapore citizens or permanent residents. After ten years, the EC becomes fully privatized, and any eligible buyer can purchase it.
"It's important to note that specific details and requirements may vary depending on government policies, the particular EC development, and the prevailing regulations at the time of application. Prospective buyers may check with their real estate agents, relevant authorities or the developers for the most up-to-date and accurate information." said real estate consultant Kiwi Lim from the largest private real estate agency in Singapore - Huttons Asia.
Executive condo projects are a hot favorite among eligible home buyers due to their relatively more affordable pricing when compared with other new launch private residential condo projects. In addition to that, developers of EC projects may offer a Deferred Payment Scheme to home buyers, giving these buyers - especially young couples more financial flexibility by allowing them to pay for the EC in two installments - the first during the construction period and the second when the EC is completed. However, it is useful to note that developers usually will impose additional markup, e.g. 3 per cent to the average launch price for EC units sold under the deferred payment scheme.
"I believe buyers who are looking for new ECs have limited choices as there are very few unsold brand new ECs currently available in the market. Altura EC is about 90% sold and North Gaia EC in Yishun is nearly 65% sold. Moreover, Lumina Grand EC may be the only brand new EC project to be launched in the year 2024" said real estate consultant Kiwi Lim, "prices of upcoming new EC projects to be launched next year are also expected to be higher than Lumina Grand EC".
The executive condo land parcel site at Plantation Close achieved a top bid of S$703 psf ppr and a record land price for the executive condo project along Tampines Street 62 (Parcel B) was awarded to Sim Lian Land and Sim Lian Development in Oct last year at a whopping S$721 psf ppr.
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The relationship between the property market and the economy of a country is intricate and interconnected. The property market, particularly the real estate sector, plays a crucial role in the overall economic landscape of a country - especially for a small country like Singapore.
Real estate is a significant component of the economy, contributing to investment and construction activity. A thriving property market can stimulate economic growth through increased construction, job creation and many related industries contributing to overall economic well-being of a country. Conversely, a slowdown in real estate activities may result in job losses and sluggish economy. Government budgets can also be influenced by the health of the property market.
"If you are waiting for a recession to buy property because you believe that a recession will lead to a property market downturn, you may not be aware that the property market may help to predict a recession before it happens." say real estate professional Kiwi Lim from the largest private real estate firm - Huttons Asia.
Comparing GDP and Property Prices from quarter 2 in 1975 to quarter 4 in 2023 - Huttons Research
The chart above from Huttons Research shows that the property market fell first before the economy contracts. Prices in the property market tend to fall ahead of the economic contractions or slightly before a crisis or recession.
The chart above also shows that the recovery in the property market is also instantaneous with the economic recovery and most of the time the recovery in the property market is sharp and swift catching most buyers off-guard if they are not watching closely.
It is also important to note that real estate markets are not isolated because they can be influenced by a combination of factors, e.g. global economic conditions, calamities or geopolitical developments like war that may unfold anywhere in the world especially in the Asia-Pacific region. Shifts in international investment patterns and economic stability may adversely impact the property market of a specific country - even for a prominent financial center like Singapore.
Property market as a leading indicator of the economy
The property market is often considered a leading indicator of the economy, meaning that changes in the real estate sector can precede and provide insights into broader economic trends. Here are some ways in which the property market can act as a leading indicator:
Consumer Confidence: Changes in property values impact household wealth. As property values increase, consumers may feel more financially secure and be more willing to spend. This can contribute to economic growth. Conversely, a decline in home values may have the opposite effect.
Investment and Construction Activity: A surge in real estate investment and construction can signal economic expansion. Increased construction activity generates jobs, income, and economic activity.
Credit Conditions: Central banks often use interest rates to manage the economy. Changes in lending standards, interest rates or the ease of obtaining a mortgage can impact the property market and the economy.
Kiwi Lim believe that with the current TDSR and the cooling measures that the government had imposed earlier, most homeowners will be able to hold onto their properties during a recession. The TDSR assumes that the buyer is still able to pay their monthly mortgage at 4% interest rate even if they suffer a 45% salary cut. Therefore, if home owners are able to hold their properties beyond the economic downturn into the recovery stage, buyers waiting for a fire sale during recession may be disappointed.
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Last year, the Housing and Development Board (HDB) launched 22,800 BTO flats across four sales exercises
The Housing and Development Board (HDB) announced last week that for the first time since 2015, HDB will hold three Build-to-Order (BTO) sales launch exercises instead of the usual four this year.
Last year, the Housing and Development Board (HDB) launched 22,800 BTO flats across four sales exercises which is an average of 5,700 BTO flats per sales exercise. This year, HDB decided that a total of 19,600 new public housing flats will be launched in three batches across three exercises in February, June and October 2024. The reduction in the number of BTO flats offered in the sales launches this year is also due to lower application rates from first-timer buyers for all flat types as HDB saw a drop in the overall BTO application rates for 2023. The median number of applicants for each available unit was 1.9 in 2023 when compared 3.7 in 2019, before the COVID-19 pandemic.
With three BTO launches instead of four, the Housing and Development Board (HDB) believe that home buyers can now look forward to a bigger housing supply at each sales launch enabling them to select from a wider range of flats and locations, e.g. there will be an average of 6,533 per sales exercise this year when the 19,600 new BTOs are divided over three BTO sales exercises instead of four.
This new proposal will now allow applicants at every BTO sales launch exercise to enjoy a higher chance of success in finding a flat that meets their budget and needs and will reduce the extent of overlap between the selection exercises and provide greater certainty for home buyers.
BTO Sales Launch Exercise
In Singapore, the Housing and Development Board (HDB) conducts regular BTO sales launch exercises. These BTO sales launch exercises offer newly constructed flats to eligible buyers. BTO flats are new residential properties constructed by the HDB. These flats are usually offered in various housing estates, and buyers can apply for them during specific BTO sales exercises.
To participate in a BTO sales exercise, individuals or families must meet certain eligibility criteria. These criteria may include citizenship status, income ceilings, and family nucleus requirements. During each BTO sales launch exercise, HDB will announce the available flat types (e.g., 2-room, 3-room, 4-room, etc.) and the specific housing estates where these flats are being offered. A balloting system is then used to allocate the flats and successful applicants will be notified on how they can proceed with the flat purchase process.
BTO sales exercises are scheduled events during which eligible individuals or families can apply for the available flats. These exercises are typically conducted multiple times a year, and they cover different locations and flat types and split into 3 categories: Standard, Plus or Prime BTO flats.
HDB BTO flats will be split into 3 categories from 2H2024: Standard, Plus or Prime (credit: HDB)
Standard, Plus or Prime BTO Flats
Under the new classification framework announced last year, HDB BTO flats will be split into 3 categories from the 2nd half of this year in 2024: Standard, Plus or Prime.
a. Standard flats will form the majority of the housing supply, with standard subsidies and restrictions such as the existing 5-year minimum occupancy period (MOP).
b. Plus flats will be located in choicer locations within each region across Singapore (e.g. near MRT station, town centre). Flat owners will enjoy more subsidies, but tighter restrictions compared to the Standard BTO flats.
c. Prime flats are in the choicest locations within Singapore, usually closer to the city centre. They will come with the most subsidies across the 3 categories and will have the tightest restrictions. These flats are currently offered under the Prime Location Public Housing (PLH) model.
"Buying a home is indeed one of the most significant financial commitments that individuals or families make in their lifetime" said Kiwi Lim, an experienced real estate professional from the largest private real estate agency in Singapore - Huttons Asia. "With the new BTO classification, the government is trying to emphasize that the purchase of HDB flats is to provide affordable housing for Singaporeans, instead of viewing it as a means to “profit” from the sale."
More housing options for singles in Oct 2024
Currently, singles who are above 35 years old can only apply for a 2-room flexi flat in a non-mature estate. However, singles can look forward to the BTO sales launch exercises in October 2024 which will see more locations available for them.
With the new classification, eligible first-timer singles can:
a) Apply for 2-room Flexi BTO flats in all locations across Standard, Plus and Prime housing projects
b) Buy a Standard or Plus flat of any size (except 3Gen flats) in the resale market
c) Buy a 2-room Flexi Prime flat in the resale market
While singles are still restricted to the size of BTO flats they can buy, they will now have more choice of locations.
About 4,100 BTO flats will be offered in the February 2024 BTO exercise. These flats will be in Bedok, Queenstown, Choa Chu Kang, Hougang, Punggol and Woodlands. Around 1,500 Sale of Balance Flats (SBF) units will also be available next month in February 2024.
Resale flat prices for 2023 rose by 4.8 per cent, less than half of the 10.4 per cent increase in 2022, according to the Housing and Development Board (HDB)’s flash estimates.
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The Johor Bahru - Singapore RTS Link will connect both countries through a viaduct 25m above the Straits of Johor
Milestone completion of The Johor Bahru - Singapore RTS Link's 65% construction
Both Singapore's and Malaysia's Prime Ministers met today on Thursday 11 Jan 2024 to mark the milestone completion of 65% construction on both the Singapore side and the Malaysian side of the Johor Bahru - Singapore RTS Link connecting both countries to ease traffic congestion on the Causeway which is known globally as one of the world's busiest border crossings.
The Johor Bahru - Singapore RTS Link tunnels will connect to a viaduct 25m above the Straits of Johor, bridging the Woodlands North station in Singapore to the Bukit Chagar station in Johor Bahru which is expected to serve an estimated 10,000 passengers per hour each way on a journey that takes about five minutes to help ease traffic congestion on the Causeway.
The CIQ (customs, immigration, quarantine) facilities of both countries will be co-located at the Woodlands North and Bukit Chagar stations, which means passengers only need to clear immigration authorities once - at their point of departure.
Estimated to cost RM10 billion (US$2.15 billion) with Singapore footing 61 per cent of the bill, this landmark project will cement the friendship between both countries further. Based on the progress achieved on both sides, we may expect the upcoming Johor Bahru - Singapore RTS Link to be ready for commencing passenger services by the end of 2026.
The Johor Bahru - Singapore Rapid Transit System (RTS) Link
Singapore Prime Minister Lee Hsien Loong and Malaysia Prime Minister Anwar Ibrahim signed commemorative plaques symbolising a shared commitment to The Johor Bahru - Singapore Rapid Transit System (RTS) Link. This rail link project that improves connectivity between Johor Bahru in Malaysia to Woodlands in Singapore will be expected to benefit both countries in terms of:
Enhanced Connectivity:
The Johor Bahru - Singapore Rapid Transit System (RTS) Link aims to enhance transportation connectivity between Johor Bahru and Singapore, making it easier for people to travel between the two locations for work, leisure or other purposes.
Reduced Traffic Congestion:
The Johor Bahru - Singapore Rapid Transit System (RTS) Link provides an alternative mode of transportation to help alleviate road congestion at the Johor-Singapore Causeway which is a busy crossing point for vehicles traveling between the two countries.
Time Savings:
The Johor Bahru - Singapore Rapid Transit System (RTS) Link is designed to offer a faster and more efficient mode of travel compared to road transport. Commuters could potentially save time on their daily journeys, especially during peak hours.
Economic Benefits:
Improved connectivity is expected to contribute to both countries' economic growth by facilitating the movement of people and goods. The Johor Bahru - Singapore Rapid Transit System (RTS) Link could stimulate economic activities on both sides of the border.
Environmental Impact:
Promoting the use of public transportation, such as The Johor Bahru - Singapore Rapid Transit System (RTS) Link can have positive environmental effects by reducing the reliance on private vehicles and reduce both countries' overall carbon emissions.
Cross-Border Collaboration:
The Johor Bahru - Singapore Rapid Transit System (RTS) Link represents a critical collaborative effort between Malaysia and Singapore, fostering deeper diplomatic and economic ties between the two countries.
Integrated Transport Systems:
The Johor Bahru - Singapore Rapid Transit System (RTS) Link project may contribute to the development of integrated transport systems in both Johor Bahru and Singapore, providing seamless connections between various modes of transportation in future.
Will More Singaporeans Consider Moving To Johor?
Johor, Malaysia is generally known for having a lower cost of living compared to Singapore. Individuals or families may find that housing, goods and services are more affordable in Johor when compared to Singapore. The property market in Johor might offer more affordable options compared to Singapore and some Singaporeans may consider relocating to Johor for housing opportunities that are more within their budget.
Singaporeans will have to consider the quality of life they can achieve in Johor compared to Singapore, e.g. lifestyle, safety, amenities, educational, recreational as well as work opportunities in their decision to move their families from Singapore to stay in Johor.
"Proximity to workplaces in Singapore and the ease of commuting will be a crucial factor of consideration. Once operational, the Johor Bahru - Singapore Rapid Transit System (RTS) Link could increase the convenience of commuting between Johor and Singapore. Once completed, the Johor Bahru - Singapore Rapid Transit System (RTS) Link may be seen as a 'cooling measure' for the property market in Singapore," said real estate consultant Kiwi Lim.
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HDB had to engage a massive marketing campaign to advertise on buses, marketing brochures and even a showflat in order to entice more applicants to choose The Pinnacle @ Duxton in 2004
2004
The Pinnacle @ Duxton BTO saw dismal interest from Singaporeans in 2004 when HDB launched this rare iconic BTO in Tanjong Pagar with the government hinting that there may be no more new BTOs in the CBD in future. HDB received 5,171 applications in total for the 1,848 units available at The Pinnacle @ Duxton which is less than 2.8 times oversubscription in 2004.
More than 2,500 applicants were known to have given up their chances when they were called by HDB to lock-in their preferred units at The Pinnacle @ Duxton to select from the 1,232 units of 4-room BTO flats and 616 units of 5-room BTO flats in 2004.
Prices for The Pinnacle @ Duxton BTO units in 2004 ranged from $289,200 to $380,900 for 4-room flats and $345,100 to $439,400 for 5-room flats in 2004. Based on the average prices, these BTO units are priced nearly 50% higher than the prices of older resale HDB flats at Everton Park right beside The Pinnacle @ Duxton BTO flats.
"After The Pinnacle @ Duxton achieved MOP status by end of 2015 and home owners started putting their flats in the resale market for sale, everyone was stunned when resale prices of this city area flats quickly exceeded one million dollars breaking past HDB resale records month after month in Singapore" said real estate professional Kiwi Lim from the largest private real estate agency Huttons Asia. "I believe after this, many Singaporeans start eyeing city area / city fringe HDB BTO launches and demand for such BTO launches soared."
The flats in Dakota One are walking distance from Dakota MRT station and the Old Airport Road Food Centre
2020
Home seekers made a beeline for the four-room Build-To-Order (BTO) flats in Geylang, which has one of the highest application rates in recent years - 14 times oversubscribed. As of 5pm on 18 Aug 2020, HDB announced that the largest flat type in the housing project named Dakota One saw more than 14 first-time applicants vying for each of the 334 four-room flats. These flats are within walking distance from Dakota MRT station and the famous Old Airport Road Food Centre. With Dakota MRT almost at residents’ doorsteps, residents will have direct train access to areas like Dhoby Ghaut, Botanic Gardens, Marina Bay, and Harbourfront.
2021 - 28 times oversubscription
Home seekers made a rush for the 4 room Build-to-order (BTO) flats in Telok Blangah - considered as the most expensive in HDB's sales exercise contributing to one of the highest application rates. Telok Blangah Beacon is located in the mature estate of Bukit Merah, the 70 such flats on offer attracted 3,124 applicants on the last day of May in 2021.
With an amazing 28 times oversubscription rate, only one in more than 28 first-time applicants will get a Telok Blangah Beacon BTO unit there. It was even harder for second-time applicants, with more than 412 applicants vying for each available unit. Prices for the four-room flats, which are within walking distance of Telok Blangah MRT station, range from $602,000 to $710,000. This BTO project drew such strong subscription that it exceeded Dakota One BTO flats the year before.
2021 - Prime Location Public Housing (PLH) Model
In a joint statement on Wednesday (27 Oct), the Ministry of National Development (MND) and the Housing Development Board (HDB) announced a new Prime Location Public Housing (PLH) model of HDB BTO in prime districts that aims to keep HDB flats located in prime districts affordable and inclusive to the majority of Singaporeans.
Under the new scheme, Housing Board (HDB) flats that are built in prime, central locations in Singapore from today onwards will be subjected to a 10-year minimum occupation period (MOP). Additional subsidies will be clawed back by the government upon their resale as well under the new Prime Location Public Housing (PLH) model (find out more by clicking the image above).
In November 2021, HDB tested the market by launching River Peaks I and II - the first BTO to be under the PLH Model in the city fringe location of Rochor. HDB saw a huge drop in demand to only 3 times oversubscription for the four-room flats in the first Build-To-Order (BTO) project under a new Prime Location Public Housing (PLH) model. There were 2,105 applicants vying for the 680 four-room units at the Rochor BTO project - River Peaks I and II - which is next to Jalan Besar MRT station.
2023 - Standard, Plus and Prime BTO Flats
At the National Day Rally (NDR) on 20 August 2023, Prime Minister (PM) Lee Hsien Loong announced a new classification of flats to better reflect the locational attributes of HDB’s Build-To-Order (BTO) projects. Potential homebuyers can look forward to more affordable BTO flats in attractive locations.
The distinction between mature estates and non-mature estates has blurred over the years as non-mature estates have become more built-up, with better amenities and transport infrastructure. The Government has invested heavily in these towns, and they now have excellent connectivity and a full suite of amenities.
As announced by PM Lee, HDB will introduce a new classification system from effective from 2nd Half of 2024 to differentiate future BTO projects by their locational attributes:
- Standard flats will come with the standard subsidies and standard restrictions that are applied to all BTO flats. They will continue to form the bulk of the housing supply.
- Plus flats, a new category of flats, will be in choicer locations within each region across Singapore (e.g. near MRT station, town centre). For example, Plus flats could be offered in the upcoming housing precinct in Bayshore, which is close to amenities such as MRT stations, a community club and East Coast Park. These flats will come with more subsidies and tighter restrictions, compared to the Standard BTO flats.
- Prime flats are in the choicest locations within Singapore, usually closer to the city centre. They will come with the most subsidies across the three categories, and will have the tightest conditions. These flats are currently offered under the PLH model.
The government hopes to curb million dollar flat transactions and the new restrictions for Plus and Prime flats could slow wealth accumulation as new homebuyers will be discouraged from using their BTO flats as a stepping-stone to accumulate wealth and upgrade to private property. The change is intended to reinforce the message that public housing is primarily meant to serve as a home for the long term and not to be used for speculative investments or treated as short-term assets.
Keppel BTO - Plus or Prime?
The first BTO project in the Greater Southern Waterfront is expected to be launched within the next three years, which will kickstart the transformation of the area into a mega waterfront development. This project is part of HDB flats that will be built on the 48ha site of the Keppel Club - which will be redeveloped for housing when Keppel Golf Club's lease expired on 31 Dec 2021. Another 3,000 units are expected to be private housing.
Measuring around 48 hectares – about the size of 86 football fields, this area will see about 6,000 Housing and Development Board (HDB) BTO flats built on the site of Keppel Club, with the first Build-to-Order (BTO) project expected to launch within three years as announced by the Minister for National Development Desmond Lee on 12 April 2022 (Tuesday).
Will Keppel BTO flats be launched under Plus or Prime BTO models? How will the subscription take-up rate be? Only time will tell.
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Singapore is set to experience days with peak temperatures of 40 degrees Celsius as early as 2045
Climate scientists use sophisticated climate models to simulate future scenarios based on different levels of greenhouse gas emissions. These models have consistently shown over the past 20 years a warming trend globally and projected that heat will likely soar to record levels in the future based on various comprehensive scientific assessments of climate change and global warming.
With record high temperatures observed globally and heatwaves becoming more frequent, intense, and prolonged in various region with the Arctic warming at a faster rate than the global average, leading to the loss of sea ice and contributing to changes in weather patterns, including heatwaves.
The primary cause has been identified as the increase in greenhouse gas emissions, particularly carbon dioxide from human activities such as burning fossil fuels, deforestation, and industrial processes. Heatwaves have killed dozens of people in India, where temperatures soared above 45 degrees Celsius. Parts of Europe, America, Australia, Africa, Asia have also experienced deaths from record-breaking temperatures near or past the 40-degree mark this year.
Last year, Minister for Sustainability and the Environment Grace Fu told parliament that Singapore is set to experience days with peak temperatures of 40 degrees Celsius as early as 2045. Already, we have matched a 40-year temperature record in May when the daily maximum temperature hit 37 degrees Celsius in Ang Mo Kio this year especially with local urban heat island effect – when natural land cover is replaced by urban surfaces that absorb and store heat.
As it get hotter for Singapore and the rest of the world with climate change making its presence felt, real estate professional Kiwi Lim believe that more Singaporeans will choose to stay in integrated private residential condo developments located above shopping malls - supermarket, childcare, eateries & amenities at their doorstep with direct access to MRT stations for the ultimate convenience without being exposed to harsh weather conditions and to avoid the damaging effect of strong UV rays.
Integrated Condo Projects
Integrated condo projects in Singapore typically refer to mixed developments that incorporate private residential condo units with other components such as commercial spaces, retail outlets, amenities and transportation hubs. These integrated condo projects aim to create a self-contained environment where residents have convenient access to various services and facilities. Below are some common features of integrated condo projects in Singapore:
- Residential Units: The integrated development includes condominiums or apartment units, offering residents a place to live within the integrated complex.
- Commercial Spaces: Integrated condo projects often feature commercial spaces, such as retail shops, restaurants, cafes, or offices. This adds convenience for residents who can access essential services and amenities without leaving the development.
- Amenities: Integrated condo residents usually get to enjoy a range of amenities such as swimming pools, gyms, parks, and communal spaces to enhance the quality of life for residents.
- Transportation Connectivity: Integrated condo projects are strategically connected with direct access to transportation hubs making it easy for residents to access public transportation, including MRT (Mass Rapid Transit) stations or bus interchanges.
- Mixed-Use Components: Beyond residential and commercial spaces, integrated condo projects might include other mixed-use components, such as hotels, offices or medical facilities.
- Green Spaces: Developers often incorporate green and landscaped areas to create a more pleasant environment within the development.
J'den offers direct access to Jurong East MRT (East-West Line & North-South Line) & upcoming Jurong Regional MRT Line
Top 12 Integrated Condo Projects in Singapore
J’den, redefining the skyline of Jurong Lake District setting a new precedent for integrated living. One where you are emboldened to realise the potential of Singapore’s next largest business district, providing broadened prospects and golden opportunities for growth. Strategically positioned near edenic lake gardens, J'den offers unrivalled lifestyle experiences with 38 levels of residences, including a sky terrace and state-of-the-art amenities, above a two-storey commercial podium. Countless conveniences extend both within and without, interweaving organically with sheltered pedestrian network J’Walk for easy access to Jurong East MRT Station, malls and more.
Project details of J'den:
Land Size: 84,023 sqft (estimated)
TOP: 2028
Tenure: 99-year leasehold from 30 Aug 2023
Developer: Capitaland Limited
Type: Condo / Apartment
Total Units: 368
Region: OCR
District: D22 - Jurong
Direct Access MRT station: Jurong East MRT (East-West Line & North-South Line) & upcoming Jurong Regional MRT Line
The Reserve Residences enjoy direct access to the Beauty World MRT (Downtown Line)
Located at the foothills of Bukit Timah Nature Reserve, The Reserve Residences offers vibrant living in touch with nature within an inclusive urban centre in the rejuvenated Beauty World neighborhood. The Reserve Residences is a thoughtfully curated integrated development with transport hub that features a blend of 1- to 5-bedroom luxury residences, serviced residences, retail and public spaces. Thoughtful residence layouts maximise spatial flexibility and connect to the outdoors with seamless connection to transport networks and nature attractions. Residents will enjoy direct access to Beauty World MRT station and the upcoming bus interchange, quick connection to major expressways, and malls, eateries, schools and nature parks are just a short walk away.
Project details of The Reserve Residences:
Land Size: 322,731 sqft (estimated)
TOP: 2028
Tenure: 99-year leasehold from 29 Nov 2021
Developer: Sino Group and Far East Organisation
Type: Condo / Apartment
Total Units: 732
Region: RCR
District: D21 - Upper Bukit Timah, Clementi Park, Ulu Pandan
Direct Access MRT station: Beauty World MRT (Downtown Line)
Located at the foothills of Bukit Timah Nature Reserve, The Reserve Residences offers vibrant living in touch with nature within an inclusive urban centre in the rejuvenated Beauty World neighborhood. The Reserve Residences is a thoughtfully curated integrated development with transport hub that features a blend of 1- to 5-bedroom luxury residences, serviced residences, retail and public spaces. Thoughtful residence layouts maximise spatial flexibility and connect to the outdoors with seamless connection to transport networks and nature attractions. Residents will enjoy direct access to Beauty World MRT station and the upcoming bus interchange, quick connection to major expressways, and malls, eateries, schools and nature parks are just a short walk away.
Project details of The Reserve Residences:
Land Size: 322,731 sqft (estimated)
TOP: 2028
Tenure: 99-year leasehold from 29 Nov 2021
Developer: Sino Group and Far East Organisation
Type: Condo / Apartment
Total Units: 732
Region: RCR
District: D21 - Upper Bukit Timah, Clementi Park, Ulu Pandan
Direct Access MRT station: Beauty World MRT (Downtown Line)
Sceneca Residence enjoys direct access to Tanah Merah MRT (East-West Line)
Sceneca Residence is the first and only integrated condo development with direct access to Tanah Merah MRT Interchange along the East-West Line. Built by renowned developer MCC Land, Sceneca Residence comprises of 268 private residential units ranging from 1-bedroom to 4-bedroom layouts with a shopping mall within a single development offering convenient services and amenities right at the doorstep for residents. Tanah Merah MRT Interchange offers an easy connection to Changi Airport and one stop to the Expo MRT Interchange for the Downtown MRT Line. In the near future, the East-West MRT line will be connected to the Cross Island Line at Pasir Ris Station which is only 3 stops from Tanah Merah MRT Station.
Project details of Sceneca Residence:
Land Size: 96,008 sqft (estimated)
TOP: 2027
Tenure: 99-year leasehold from 10 Feb 2021
Developer: MCC Land (Singapore) Pte Ltd
Type: Condo / Apartment
Total Units: 268
Region: OCR
District: D16 - Bedok, Upper East Coast, Eastwood, Kew Drive
Direct Access MRT station: Tanah Merah MRT (East-West Line)
Midtown Modern has direct access to Bugis MRT (East-West Line & Downtown Line)
Midtown Modern, is a transformational integrated condo project in the always-in-demand Beach Road – Bugis area with the “live, work, play” concept spread across two sites, tailored to modern, professional living. Building on GuocoLand’s success with high-end integrated developments and luxury residences, including Wallich Residence / Guoco Tower, Leedon Residence and the near sold out Martin Modern, Midtown Modern's ultra-prime area combining culture, heritage, dining, wellness and unrivalled proximity to the CBD makes it a very attractive option for homebuyers who desire prestige and convenience.
Project details of Midtown Modern:
Land Size: 124,672 sqft (estimated)
TOP: 2024
Tenure: 99-year leasehold from 10 Dec 2019
Developer: Guocoland and Hong Leong Holdings Limited
Type: Condo / Apartment
Total Units: 558
Region: CCR
District: D07 - Middle Road, Golden Mile
Direct Access MRT station: Bugis MRT (East-West Line & Downtown Line)
Midtown Modern, is a transformational integrated condo project in the always-in-demand Beach Road – Bugis area with the “live, work, play” concept spread across two sites, tailored to modern, professional living. Building on GuocoLand’s success with high-end integrated developments and luxury residences, including Wallich Residence / Guoco Tower, Leedon Residence and the near sold out Martin Modern, Midtown Modern's ultra-prime area combining culture, heritage, dining, wellness and unrivalled proximity to the CBD makes it a very attractive option for homebuyers who desire prestige and convenience.
Project details of Midtown Modern:
Land Size: 124,672 sqft (estimated)
TOP: 2024
Tenure: 99-year leasehold from 10 Dec 2019
Developer: Guocoland and Hong Leong Holdings Limited
Type: Condo / Apartment
Total Units: 558
Region: CCR
District: D07 - Middle Road, Golden Mile
Direct Access MRT station: Bugis MRT (East-West Line & Downtown Line)
CanningHill Piers enjoys direct access to Fort Canning MRT (East-West Line)
CanningHill Piers, is an iconic integrated development jointly developed by CapitaLand and City Developments Limited (CDL). There is no place quite like CanningHill Piers - on one side lies glittering Singapore River and its vibrant cafes, bars and restaurants, on the other side, the verdant tranquility of Fort Canning Hill provides the perfect foil. Beyond its unmatched position overlooking two of Singapore’s historic sites, this new luxury residence is set to be a landmark in its own right. Bearing the bold signature of lauded architectural practice Bjarke Ingels Group (BIG), CanningHill Piers rises proudly above Clarke Quay and Fort Canning MRT. And as part of a transformative integrated precinct housing an inspired mix of F&B, retail, hotel and serviced residence too — truly, the very best of life is yours for the taking.
Project details of CanningHill Piers:
Land Size: 139,765 sqft (estimated)
TOP: 2024
Tenure: 99-year leasehold from 17 Sept 2021
Developer: City Developments Limited (CDL) & Capitaland Limited
Type: Condo / Apartment
Total Units: 696
Region: RCR
District: D06 - High Street, Beach Road (Part)
Direct Access MRT stations: Fort Canning MRT (East-West Line)
Pasir Ris 8 condo is a fully integrated condo in the east at Pasir Ris Central
Pasir Ris 8, the first integrated development in the heart of Pasir Ris Town. Set to be rejuvenated into a vibrant hub, the Pasir Ris town centre serves as the backdrop for the bustling development that also comprises the upcoming Pasir Ris Mall with seamless connectivity to transport hub - MRT and bus interchange, Pasir Ris polyclinic, childcare centre and Town Plaza with Heritage Garden. Close to nature with the idyllic Pasir Ris Park and Beach just minutes away, Pasir Ris 8 is a home made for coastal living with everything you desire right at your doorstep.
Project details of Pasir Ris 8:
Land Size: 327,281 sqft (estimated)
TOP: 2027
Tenure: 99-year leasehold from 5 July 2021
Developer: Allgreen Properties & Kerry Properties
Type: Condo / Apartment
Total Units: 487
Region: OCR
District: D18 - Tampines, Pasir Ris
Direct Access MRT stations: Pasir Ris MRT (East-West Line) & upcoming Cross Island MRT Line
Marina One Residences is an integrated condo project that offers city dwellers the perfect home
Marina One Residences is located in the much sought after Marina Bay area, featuring 1,042 high end luxury residential units as well as several internationally renowned retail and dining outlets. What makes Marina One Residences stand out however, is its very own biodiversity garden tropical paradise – The Green Heart, a 65,000 sqft biodiversity garden featuring a 13-metre high waterfall giving the whole development a feeling of calm and tranquility despite being located right in the centre of one of the busiest cities in the world. Marina One Residences is also connected to 4 MRT lines, while car owners will have easy access to the MCE, ECP, AYE and the KPE, giving island-wide connectivity. Marina One Residences’ close proximity to Marina South Pier also means that residents have.
Project details of Marina One Residences:
Land Size: 494,000 sqft (estimated)
TOP: 2017
Tenure: 99-year leasehold from 1 July 2011
Developer: M+S Pte Ltd
Type: Condo / Apartment
Total Units: 1042
Region: CCR
District: D01 - Raffles Place, Cecil, Marina, People's Park
Direct Access MRT stations: Marina Bay MRT - North-South Line, Circle Line & Thomson East Coast Line
Piccadilly Grand residents enjoy direct access to Farrer Park MRT (North-East Line)
Piccadilly Grand is a 99-year leasehold 407-unit 23-storey residential mixed development by established developers City Developments Limited (CDL) and MCL Land located in the Farrer Park area in District 8. Located in the city fringe, away from the hustle and bustle of city living but yet stays close enough to make travelling to and from the city centre very convenient, the neighborhood around Piccadilly Grand comes with an abundance of amenities, from hawker centres to shopping malls to schools. According to the URA Master Plan, the up and coming healthcare city in Novena and redevelopment along the Kallang River will create positive knock-on effects for those planning to live at Piccadilly Grand.
Project details of Piccadilly Grand:
Land Size: 94,419 sqft (estimated)
TOP: 2026
Tenure: 99-year leasehold from 2 Aug 2021
Developer: City Developments Limited & MCL Land
Type: Condo / Apartment
Total Units: 407
Region: RCR
District: D08 - Farrer Park
Direct Access MRT station: Farrer Park MRT (North-East Line)
The Woodleigh Residences has direct access to Woodleigh MRT (North-East Line)
The Woodleigh Residences located at Bidadari in District 13 has many shops and amenities nearby which would ease the process for residents and they do not need to go far to find what they need. The Woodleigh Residences has many charms to it with various facilities that residents can enjoy with direct access to Woodleigh MRT. The closest bus stops are located at Woodleigh Station, Singapore Power Training Institute and after Bartley Road. For those with vehicles, the shopping district located at Orchard Road can be easily accessed via Central Expressway and Bendemeer Road in 15 minutes.
Project details of The Woodleigh Residences:
Land Size: 275,064 sqft (estimated)
TOP: 2023
Tenure: 99-year leasehold from 18 Sept 2017
Developer: Kajima Development Pte Ltd & Singapore Press Holdings
Type: Condo / Apartment
Total Units: 667
Region: RCR
District: D13 - Macpherson, Braddell
Direct Access MRT stations: Woodleigh MRT (North-East Line)
Sengkang Grand Residences has direct access to Buangkok MRT (North-East Line)
Sengkang Grand Residences comprises of 680 residential units in 9 blocks and residents can enjoy full condominium facilities with 50m Lap Pool, Gymnasium, Social Function Room, and myriad pavilions and greenery landscaping beautifully curated around the development. Integrated with Buangkok MRT station, bus interchange and Sengkang Grand Shopping Mall, managed by Capitaland, residents are spoilt for choice with plenty of dining, retail, Buangkok Hawker Centre and Community Club managed by People’s Association (PA).
Project details of Sengkang Grand Residences:
Land Size: 401,012 sqft (estimated)
TOP: 2023
Tenure: 99-year leasehold from 13 Nov 2018
Developer: Frasers Centrepoint Limited (FCL)
Type: Condo / Apartment
Total Units: 680
Region: OCR
District: D19 - Serangoon, Hougang, Punggol
Direct Access MRT station: Buangkok MRT (North-East Line)
North Park Residences has direct access to Yishun MRT (North-South Line)
North Park Residences, situated in the heart of District 27, on top of Northpoint City - the largest mall in the north of Singapore, North Park Residences couldn’t be more conveniently placed. As well as the 400 retail and dining options in the mall, there is also a bus interchange, library and cinema on site, as well as Yishun MRT Station on the North South Line. A commute into the city would take 25 minutes on the MRT, and slightly less by car. North Park Residences itself has 920 residential units ranging from 1 bed units and studios, up to 5 bed units, with a wide range of configurations including dual key options for the 2 and 3 bed units. North Park Residences also has an impressive number of facilities – 88, as well as 10 themed coves and 3 gardens.
Project details of North Park Residences:
Land Size: 444,227 sqft (estimated)
TOP: 2018
Tenure: 99-year leasehold from 19 March 2015
Developer: Frasers Centrepoint Limited (FCL)
Type: Condo / Apartment
Total Units: 920
Region: OCR
District: D27 - Yishun, Sembawang
Direct Access MRT stations: Yishun MRT (North-South Line)
The Poiz Residences - direct access to Potong Pasir MRT (North-East Line)
The Poiz Residences is a mixed use 731 residential units development located in District 13 integrated with 77 retail units and 7 restaurants inside the shopping mall below. The Poiz Residences is situated right beside Potong Pasir MRT Station on the North East line giving commuters and shoppers a quick and easy journey while there are many good eateries to choose from nearby ond just 2 stops to the Serangoon Interchange where NEX is also located.
Project details of Poiz Residences:
Land Size: 106,841 sqft (estimated)
TOP: 2018
Tenure: 99-year leasehold from 17 Nov 2014
Developer: MCC Land (Singapore) Pte Ltd
Type: Condo / Apartment
Total Units: 731
Region: RCR
District: D13 - Macpherson, Braddell
Direct Access MRT station: Potong Pasir MRT (North-East Line)
Real estate professional Kiwi Lim from Huttons Asia believe that going forward, more and more homebuyers will desire the convenience that integrated condo developments offer when searching for their dream homes in the future due to their preference for work-life balance lifestyle especially with the unfair advantage over other condos in terms of seamless connectivity to transport hub like MRT and / or bus interchange, supermarket, eateries and amenities at their doorstep.
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Homeowners of old condos may experience inter-floor water leakage issues as their floor waterproofing wears out
Living in a condominium offers numerous advantages, but the challenge of resolving inter-floor leakage can cause much distress for affected home owners. Whether you've noticed water stains on your ceiling or suspect leaks from a neighboring unit, taking proactive steps to address inter-floor leakage is crucial.
Practical Tips on Handling Inter-Floor Leakage Issues
Identifying the Source of Leakage:
- Conduct a thorough inspection to pinpoint the exact source of the leakage. Check for visible water stains, dampness, or mold.
- Collaborate with neighbors to identify the source of the leakage. This may involve conducting joint inspections of the affected units.
Immediate Measures to Minimize Damage:
- Place buckets or containers under visible leaks to collect water and prevent further damage.
- Move furniture and valuables away from affected areas to prevent additional harm.
Notify Condo Management and Neighbors:
- Report the issue to the condo management immediately, providing details of the leakage.
- Inform neighbors, especially those living directly above or below you, to encourage collective efforts in resolving the problem.
Engage Professional Inspection:
- Hire qualified professionals, such as plumbers or building inspectors, to conduct a thorough inspection. Professionals can pinpoint the source of the leakage and provide expert recommendations.
- Identify any potential breaches in the waterproofing membrane or plumbing connections.
Cooperate with Condo Management:
- As soon as you notice the leakage, report it promptly to the property management or condominium management. Timely reporting can prevent further damage. Work closely with the condo management to share inspection findings and coordinate necessary repairs.
- Follow the established procedures for reporting and addressing maintenance issues.
Waterproofing Solutions:
- Invest in professional waterproofing services to seal potential entry points for water.
- Ensure that common areas such as roofs, balconies, and plumbing lines are adequately waterproofed.
Repair and Renovation:
- Undertake necessary repairs promptly, addressing both the cause of the leakage and any resulting damage.
- Coordinate with affected neighbors to synchronize repair efforts if the leakage involves multiple units.
Preventive Maintenance:
- Regularly inspect your unit for signs of water damage and address minor issues promptly.
- Encourage neighbors to participate in preventive maintenance initiatives to mitigate future problems.
Legal Recourse:
- If efforts to resolve the issue amicably prove unsuccessful, consider seeking legal advice based on Singapore's Building Maintenance and Strata Management Act (BMSMA).
Building Maintenance and Strata Management Act (BMSMA)
According to Singapore's Building Maintenance and Strata Management Act (BMSMA), which is administered by the Strata Titles Board (STB), the upper floor is presumed liable for the leakage and thus the repairs unless he can prove to the contrary. Thus, the upper and lower floor flats are required to jointly carry out an investigation to determine the cause of the leak and proceed with repairs. You should also involve your condominium’s Management Corporation when necessary.
The Strata Titles Board (STB) is a statutory board in Singapore operating under the Land Titles (Strata) Act. Its primary role is to serve as a forum for resolving disputes that may arise among owners of strata-titled properties, which include condominiums and other developments with shared facilities.
Common disputes include issues related to maintenance fees, property management, and by-law violations. The STB may encourage parties to undergo mediation to resolve disputes amicably before resorting to formal adjudication by interpreting and applying the Land Titles (Strata) Act and related laws in the context of strata-titled properties. Therefore, if mediation is unsuccessful, the STB may issue adjudication orders to settle the dispute and decisions made by the STB can be appealed to the High Court on points of law.
"Resolving inter-floor leakage issues may require patience and cooperation between many parties. By following established procedures, seeking professional advice, and maintaining a constructive dialogue, owners can work together to find solutions and prevent future problems." advised real estate consultant - Kiwi Lim, who has assisted home owners regarding water leakage issues.
Individuals seeking information or assistance related to strata-titled property disputes in Singapore can refer to the Strata Titles Board (STB) for guidance and resolution.
Patience and Cooperation
Resolving inter-floor leakage issues among owners of properties can be a complex process, but open communication, collaboration, and adherence to proper procedures can contribute to a successful resolution.
"Addressing inter-floor leakage in a condominium requires a collaborative approach involving residents, condo management, and professionals." said real estate professional Kiwi Lim from Huttons Asia, Singapore's largest private real estate agency. "By promptly identifying, reporting, and resolving leakage issues, you contribute to a healthier living environment for yourself and your neighbors. Regular maintenance and proactive measures can help prevent future incidents, ensuring a more secure and comfortable condominium living experience."
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The "right of survivorship" is a legal concept associated with joint ownership of property
Usually, when a parent holds a property jointly with a child, we normally assume that the parent intends to give the property to the child upon demise, but this assumption can be disputed.
Recently, our local media - The Straits Times on 26 Nov 2023 featured a court case, where siblings fought over their deceased mother's estate worth an estimated $1 million dollars for more than a decade in Singapore's judiciary courts.
One of the main contention is over a condominium property in East Coast that was bought jointly in 1999 for $688,000 using money from both the mother and her eldest son with both of them having joint ownership of the said property.
The courts calculated the mother's share to be 58% and eldest son's share to be 42% as he paid $300,000 of his own money and the remaining $418,000 was from his mother's funds for the East Coast condo making the total contribution to be $718,000 for the property that was bought under joint ownership.
After the mother passed on, the eldest son assumed ownership of the whole property claiming that he has the "right of survivorship" due to their joint ownership arrangement for the property.
Joint Tenancy & "Right of Survivorship"
The "right of survivorship" is a legal concept associated with joint ownership of property, particularly in the context of real estate or financial accounts. It refers to the right of a surviving joint owner to inherit the interest or ownership share of a co-owner who passes away. This right is commonly found in joint tenancy and tenancy by the entirety, which are forms of property ownership.
If one owner dies under joint ownership, the other usually inherits the whole property if no compelling documents show otherwise or if no one contest the claims to the property or the money involved in buying the property.
The "right of survivorship" is not limited to real estate properties; it is also common in joint bank accounts and certain types of financial assets. When one account holder dies, the surviving account holder(s) inherit the funds.
"It's important to note that the "right of survivorship" is a feature agreed upon when establishing joint ownership and is not automatically implied." said real estate professional Kiwi Lim from the largest private real estate agency in Singapore - Huttons Asia.
"If one of the joint tenants dies, their ownership interest is usually not subject to probate, which provides a mechanism for a smooth transfer of ownership in the event of a co-owner's death, ensuring that the surviving owner(s) retain full control and ownership of the property or asset. The purpose of the right of survivorship is essentially to help facilitate a seamless transfer of ownership, avoiding the delays and complexities associated with the probate process." said Kiwi Lim who have been studying real estate trends for more than a decade and believe there may be more cases in future as parents buy properties in their children's names under Trust as well as couples who decoupled to save ABSD on their 2nd property, etc.
High Court Judge Clarifies "Right of Survivorship" Misconception
In the case of the East Coast condo property that was listed under joint ownership between the mother and her eldest son - after the mother passed on, the youngest son sued the elder brother in court to claim a share of the East Coast condo property which is now valued to be worth $1.6 million.
The youngest son who was appointed as his deceased mother's legal representative is claiming for his mother's 58% share of the property value to be included among the estate under his mother's name.
The High Court judge noticed there are many people out there who have misconceptions regarding the legal meaning of "right of survivorship" under joint tenancy ownership arrangement for real estate properties and took the opportunity to address this misconception in court.
Justice Coomaraswany say while the surviving owner will become the sole legal owner of a property after the death of the other owner, he would not own it entirely if there was a competing claim for it.
The Judgement
Usually, when a parent holds a property jointly with a child, we normally assume that the parent intends to give the property to the child upon demise, but this assumption can be disputed when there are other children involved who contest against it.
The judge noted that the eldest son was correct when he said that he became the sole legal owner of the property due to his mother's death. "But (he) is wrong when he says that he thereby now also owns the entire beneficial interest in the property. The mother's death had no effect on the beneficial interest she acquired in the property by reason of her unequal contribution to its purchase in 1999." according to the news report.
Justice Coomaraswany, the High Court judge ordered the eldest son to sell the property with the proceeds to be divided based on the parties share value - which means the mother's share of 58% would go into her estate to be divided accordingly among her beneficiaries.
