Singapore – In the past year, unsold inventory of brand new private residential units has been depleting noticeably by 56.0% to just over 11,000 units, between the second quarter of 2015 and the second quarter of 2018. Particularly geared towards new condo units, the unsold balance of non-landed properties in Singapore had seen a significant reduction since its last high in 2015.
The recent data released indicate the current lowest level since the beginning of third quarter 2016. With that being said, the constituting 31% of total unsold private real estate assets is currently standing at about 33% of the entire area in Singapore.
Somewhere against the backdrop of Singapore’s private housing market lies a general mixed-bag price performance. Based on new private residential projects of different segments in the market, and there may be better terms for recovery that may be swiftly emerging from the local market.
As evidenced from some key market indicators, it’s just opposed with a favourable and highly commendable recovery in the total new sales of completed condo units such as 8 Saint Thomas Condo located at St Thomas Walk, Orchard Road District 09. So, what does it mean for sub sales and resale going forward?
With the wealthy city state’s sub sale and resale transaction volumes hovering around 1,371 units sold in the second quarter of 2018, it’s comparable to the quarterly average of 691 units sold in 2017 at 68% higher – 465 units. These resale transactions reflected a high % of total sales in local market, which is showing signs of rising interest in value buys of completed condo especially those found in ultra-prime districts.
From a broader price trend market perspective in the real estate market, they are still not fully out of the woods. Amidst the imposing of new property cooling measures, the room for steady economic growth in Singapore is a cautious sentiment especially towards the primary segment.
With that being said, a brand-new revival plan seems to have emerged, ever since the first half of the year 2018. However, after more than 4 years of price declines over 15 quarters, the overall prices in Singapore have been constantly showing gradual increases till the government intervenes with further measures in July 2018.
Despite the trend of a torch burning bright over Singapore in the new project development, the expectations remain low till the end of 2018, it might be the best year Singapore has had from 2017 till now. Moving forward, opportunities are endless as to how the market will turnout, but for the newer properties, future remains bright.
If you’re currently home hunting for your boy’s consideration in mind, you’d realized you’ve aged so significantly and that your grown-up boys will soon become a gentleman for their respective wives. Their first matrimonial home should ideally be in the same neighbourhood as yours, sounds cliché but essential as time goes by. We take a look at the list of possible factors that are contributing to the decision-making process.
- The environment – A good and friendly neighbourhood should be praised. A priority in many aspects such as the cohesiveness of your immediate neighbours.
- The safety issue – Will the precinct provide a sound protection barrier for your daughters-in-law and probably your grandchild in the future.
- The price of the new home – Buying a brand new private residential asset is a long-term commitment and refrain from stretching too much of your finance should it exceeds your comfortable price range bracket.
- The space required – As a general rule of thumb, 3 bedder option would be the most logical and sound advice for any young couples looking to start a family.
- The location – subject site should be positioned in a strategic locale that is both convenient to you and your children’s new home.
Keeping all these possible factors in mind, the recent new launch announcement by our esteemed local developer Oxley Holdings Limited, will be encouraging enough and certainly is developing a sense of greatness to the overall health being of residents. The state-of-the-art project has been named as Kent Ridge Hill Residences.
Situated on the South Buona Vista Road off Pasir Panjang Road, this residential estate has many different layout configurations for different families. Although many smaller units have been planned by the architects, the new residence will also have a wide selection of spacious yet affordable homes for the first-time homeowners. However, their one and two-bedroom units are strangely compact yet spacious. They are geared towards the concept of Scandinavian, less means more. An uncluttered mess for the mass.
Quality of life
Another critical aspect, new home owners here are obviously looking for a stable and yet mid-term investment portfolio to minimize the downside risks. Besides their prevailing budget, they also have to consider the health of the family before committing to a choice.
This environment is clearly perfect not only for adults but especially for growing children as well due to the abundance of greenery available in the immediate vicinity.
Not everyone owns and drive, but this is not a worry because the neighbourhood has the Circle Line and Pasir Panjang MRT station is only few minutes’ walk away. These circle line station are conveniently connected to other major zones of Singapore. Daily commuting to and from work will not be an issue when such convenience is presented to the residents of this district 05 area. Nevertheless, Kent Ridge Hill Residences by Oxley will be among the top few best option for my boys when they are released for sale in the coming months.
Singapore – If you’re house hunting for the perfect ideal abode for your family or seeking out the best investment property choice in Bukit Timah enclave in 2018, look no further as we’ve probably found you the most reliable residential project – Mayfair Collection at Rifle Range Road (Upper Bukit Timah).
It all began from Citrine Property Pte Ltd, having acquired the ageing 124 flats of former Mayfair Gardens at $311 million, a wholly-owned subsidiary of SGX listed, Oxley Holdings. They have since planned for a major redevelopment that incorporates the state-of-the-art private home collection that will redefine our current modern luxury and wellness lifestyle living.
General information about the Mayfair Collection
The proposed redeveloping residential project of Mayfair Collection; will have aesthetically laid out functional 1-bedroom to 4-bedroom unit type to suit the needs of different family size and their budget range in comfort. The new homes will be attractively priced by the developer as reported and it will be suitable for the younger and amateur investors’ appetite as a life-time investment into a private residential property.
Our local pioneer generations will also be able to afford the easily manage price tag on this apartment as their retirement home and enjoy the pristine, green surroundings and the wellness amenities provided for within the estate. Families with growing up kids will find this development a safe and convenient neighbourhood in bringing up their children too!
The Wellness Lifestyle Living
Whatever your age is, eating good and freshly grown produce is a very healthy option. The farmer’s market, Pasarbella at The Grandstand is in proximity to your residence. The place hosts a myriad of cuisines and you will be spoilt for choices. There are mega sale of fresh fruits, vegetables, meat and seafood among many other products available all year round.
When you’re back to your residence, the fresh air surrounding your home is of a different quality and pollution-free. There is a green corridor right at your doorstep for a leisure walk, daily jog and a cycling route in the vicinity. All these little details define a healthier living and will be a bigger advantage for the home stayers rather than the “home owners”.
Accessibility from home
Most residents need to commute every day to their workplace and probably to different area on every weekends. Young children must attend school while teenagers are required to travel independently to their institutions or University. Fortunately, Mayfair Collection is well-positioned and well-connected to all these key destination via King Albert Park MRT, major arterial road and the Pan-Island Expressway (PIE). It is really that easy and convenient for both drivers and public transport passengers.
Singapore – Owning a home is everyone’s biggest dream! Undeniably, you cannot resist owning a piece of asset in Queenstown, Singapore. This is one of the finest destinations for investment in Singapore. Do you know that Queenstown is considered as the “Queen of real estate investment” in the region? This is the reason why projects like Stirling Residences is growing by leaps and bounds.
This is a brand new residential project found in Queenstown. The new condo project is a clear picture of luxury and comfort. If you want to settle down in a place that reflects maturity and richness, Stirling Residences is definitely an option for you. Sit back, and learn more about how this residential project can change your lifestyle.
What is Stirling Residences all about?
As mentioned previously, Stirling Residences is a new project in Queenstown, Singapore. The condo project was started as a part of the Government Land Sales Scheme. It plays an integral role in the Queenstown Planning area. After putting in serious considerations and harsh competition over the tender exercise, this huge project was awarded to Logan Property Holdings and Nanshan Group Singapore. They had won at a bid amount of 1.003 billion SGD. According to a recent survey, this is one of the most expensive residential projects being recorded under the Government Land Sales Program.
Knicks and Knacks of Stirling Residences Project
To begin with, this is an interesting development. The project features skyline towers with apartments that host 1 to 5 bedrooms. The project is planned to attract young couples, families and ambitious investors. Stirling Residences has a dazzling structure, it exudes a sense of luxury to the investors. The apartments are extremely spacious and equipped with the state of art facilities. This means you will have a blissful evening at home after a day of hard work and no play. Doesn’t this sound wonderful?
Pros around Stirling Residences
What makes all residential projects in Queenstown special will be the neighborhood. In recent years, Queenstown has become more famous amongst investors for its proximity to the main City Centre. You have the Margaret Drive with many new and puzzling housing projects and in the next few years, Ghim Moh is bound to be filled with more housing programs. This means Stirling Residencies is in a hotspot that is grabbing the eyes and minds of potential investors by being the first-movers here.
Stirling Residences: An Ideal option for Families
This new abode will be an ideal choice for families. It is attributed by its location, the stylish condo facade and its smart-living facilities. Investors will be joining hands with one of Singapore’s finest and renowned developers. Next, you will be able to travel in and around Singapore easily as the development is strategically located near the Queenstown train station.
This means you will have no trouble connecting and reaching other Singapore districts. It is near Marina Bay Financial Center (MBFC) and the Orchard Road Shopping Belt. These are two famous attractions that appeal to all families and investors in the country. Will you be able to resist such a hotspot? Can you say no to condos that reflect your style of living? If you answered ‘No’, check out Stirling Residences now!
An insight into why there’s resentment
Is there really resentment in Singapore’s new condo development housing market? For now, the market shows a lot of Singapore citizens may have or showing signs of resentment in the market due to the rise in prices of the private housing market and the increase in immigration. Why is this so? Most Singapore residents feel that there are many factors that could be playing a part in the rise of real estate prices, but it’s believed the increase in property prices are coming from the wealth that migrates to around 45 Amber Road, Singapore.
So, for now it seems to be a lot of persuasions and pressure by the authorities to make the public react, so they can scare the developers into decreasing and making the private housing prices to drop further in Singapore. Property developers throughout Singapore aren’t showing any signs of budging on their property prices either as competition is even taking more of an upturn.
Who’s really at fault for private condo increases?
Is it the migrators fault? No, people can move anywhere that will accept them when migrating from another place despite the price of residential housings. Actually, the fault doesn’t lie anywhere, but with authorities. The fault also kind of lies with the competitive property price market in Singapore. Is it the developers fault? Why should new project developers such as the developer of Amber 45 Condo located at 45 Amber Road lose out on competitive market prices? The fact is, developers are rightfully within their rights to charge the prices they want for their residential properties within market prices. What does this mean for instability in the real estate market? It aptly means that the government and central bank may want to intervene if they see market instability due to higher prices.
Prospects of the Singapore Housing Market
The housing market prospects in Singapore has largely been due to the fact that investors are more confident in the new development condo properties and the fact that Singapore is home to some of the world’s most expensive real estate assets. Many analysts believe that the government will begin to slow the growth of foreign workers migrating to Singapore in an attempt to cool down the ever-growing housing market and introduce more cooling measures in the property market such as putting tougher mortgage conditions into place and adding more buyer stamp duties.
With that said, the more stringent terms for new home buyers may also see the curbing of bank lending to developers or may try to restrict the number of units that developers develop on building sites. Although Singapore is considered to be a haven for the super-rich in Asia, the prices of overall real estate has seen a rise of up to 20% in 2017 and may rise a little higher by the end of 2018. With these rises throughout the year, buyers can be sure that even if there is resentment, they will surely see a rise again of about 2% by the end of the year and substantial rises a few years from now. Will there be resentment then?
3 Cuscaden Condo at Cuscaden Walk
Following the strong and massive collective sales fever and the sale of Cuscaden mansions, it has since been renamed as the 3 Cuscaden by the winning developer. This old and rundown apartment building will be torn down and redevelop into the next big thing in 2018. It will be the latest and best Prime District 10 condo in the Orchard area when the time comes. The former Cuscaden mansions was bought over by Sustained Land via an en-bloc process in 2016, they are established as well as a reputable real estate firm in the local market for many years with solid track records.
As the full details of this newest 3 Cuscaden Condo at Cuscaden Walk is not approved by the governing bodies yet, there will not be much information to share with the public as of now. But based on a close acquaintance with the insider news, this ultra-luxurious condo building will be built on a twenty over thousand square foot of elevated land.
Locale of 3 Cuscaden
Meticulously designed along with one of the top architect firm in Singapore, the entire condo development will be standing tall and strikingly along Cuscaden walk and the main Orchard boulevard road. 3 Cuscaden condo will certainly be identified easily when you’re driving pass the area.
Coincidentally, this beautiful landmark at Orchard road will also be diagonally across the iconic Wheelock Place and Four Seasons Hotel. Besides from having the Boulevard residences, Cuscaden royale and Twenty-One Angullia Park as your immediate neighbours, the exclusiveness of this neighbourhood will only belong to the few residents residing here.
With such an impressive locale of 3 Cuscaden, residents will be able to relieve themselves from owning an expensive vehicle in land scarce Singapore too. Due to orchard railway station being a short stroll away in a couple of minutes via underground passage ways, there isn’t a strong reason in owning a car for the individuals now. They can in fact contribute to be a part of the car-lite society members moving forward as Singapore age.
This new condo development by Sustained Land Pte Ltd will most probably feature only two to four-bedroom type within the entire single building. It is actually a good strategy plan by not integrating a single bedroom layout due to the higher population as seen from other projects. With the fading shadows of one bedded unit due to the perceived shoe box idea, it is certainly a good plan to begin with two bedded units going forward for all future developments.
So, if you’ve been holding out for a long time since the slump of our local property market in recent years, it is the perfect opportunity for you to enter the property scene now as we’ve witness a bottoming out correction with increases from previous two quarters ending 2017 and going forward, we would expect a gradual increase on the private property price beginning from the prime district’s high-end properties.
Singapore – Park Colonial, the newest condo at Woodleigh Lane and along Upper Serangoon Road. It will be developed by a consortium led by Chip Eng Seng, a joint venture between CEL Development, Unique Real Estate Pte Ltd, Heeton Holdings and KSH Holdings. They have successfully tendered for the land parcel by out-bidding the rest of the local developers and to becoming one of the first mover in this Bidadari new town. Major plans for this condo development were already in discussion and there will be more than 800 apartments in this development, spanning across 6 blocks of 15-storey tower in style.
Branded Main Contractor of Park Colonial Condo
They have officially appointed Dragages Singapore as the main contractor for this new condo site at Woodleigh. It is a Singapore-based wholly-owned by Bouygues Construction, an industrial group headquartered in France and a mainboard listed on Euronext Paris Stock Exchange. It will be a new innovative modular construction project as promised by Dragages and we will expect to see a major disruption in the next few following years when they demonstrate their expertise in modular construction.
The entire construction of this Park Colonial condo by CEL will be worth a total of €113 million. The mentioned site is located in the center of district 13, Woodleigh Lane. There will be many different various layouts ranging from one to five-bedroom unit types, totalling 805 apartments for the online registered purchasers to choose from.
By Dragages Singapore
According to Nicolas Borit, Chief Executive Officer of Bouygues Batiment International, said: Park Colonial Condo will be their new milestone in their continuously developing activities in Singapore. And that they were thrilled to have been selected for this challenging task, so that they will be able to execute their expertise in the latest modular building strategy. Showing clients on the newest technology by anticipating an even more effective building technique that will complete in a faster turnaround time for all involved parties. They are now fully-equipped and is capable to offer new solutions where it will match whatever expectations from the client.
This new project was pitched by Dragages Singapore and will be based on the latest modular system in reinforced concrete, with more than half factory-built and produced in advance within a well-managed environment so that it will not jeopardise and compromise on any quality issues on site.
It will be safely secured along the way while transporting the concretes to the construction site. Thereby limiting the noise and dust for the people residing in the neighbourhood. Work on the fabrication has already begun in Jan 2018 and will take approximately 33 months before handing over the project back to the developer by late 2020.
Not to worry should you have any concerns pertaining this new condo development, we’ll be around to assist you along the way if you’re keen to explore further with us.
Introduction of Artra Condo
Artra Condo was initially sitting on an empty plot of land until Urban Redevelopment Authority (URA) released the land parcel for public tender sale program. After a fiercely contested bidding on this piece of land located at Alexandra road, it was sold to Tang Skyline Pte Ltd.
If you were to look closely on the recent land bids by developers of all sizes, it reflects an increasing positive sentiment on the local residential market scene. More so on the city outskirts and prime site as compared to other regions.
However, market watchers have warned that due to the many unsold units within the Artra condo area, it would be a risk for the developer moving forward. There are Alex Residences, Principal Garden and The Crest in the immediate vicinity as their main competitors during then.
But things have changed since, with the local private property segment bottoming out and into a recovery phase after two consecutive price rises since 2017, many home buyers have come into the market hunting for good buys. As a result, both Alex residence and Principal garden have been fully sold at a stunningly fast pace.
Artra Condo Development
With the impending shock wave flowing into the marketplace, we could expect more good news coming from the Artra condo in the next few months. It is not only an ordinary condo but one which is right next to the Redhill train station for your day to day convenience. Wouldn’t it be great to be able to reside in a city fringe locale and yet it offers you such an unbeatable connectivity?
Amenities around and within the Artra Condo
Apart from scoring highly on transportation aspect, it is only three and four stations away to our central business district, Tanjong Pagar and Raffles Place respectively.
As a resident here, one will not be short-changed from a lack of amenities because Artra is a mixed development where it encompasses commercial component on the same building. Bringing to you plenty of food and beverage establishments as well as retail services including a large supermarket for your weekly groceries.
If you or your wife is expecting, or you have a newborn baby right now, we’re pleased to tell you that there will be an indoor childcare centre situated within the artra residence for your ultimate convenience.
Everything has been carefully planned for you by the developer, if you are on a house hunting currently, do not missed this golden opportunity anymore!
Singapore – Local developer City Developments Ltd has won two out of three land sites from the government land sales yesterday.
The sale of three residential sites located at Chong Kuo Road, Handy Road and West Coast Vale were closed yesterday on 30 January 2018, with CDL bringing home the latter two.
They had entered the winning bid of $212.2 million or $1722psf ppr for the plot at Handy Road, Dhoby Ghaut. Including a winning bid of $472.4 million or $800psf ppr for the land site at West Coast Vale. While the third land parcel on offer were in Chong Kuo Road along Sembawang Road (Mandai area), receiving a top bid of $43.95 million or $681psf ppr from a joint venture between OKP Land and Lian Soon Holdings.
The 51,626 square feet land parcel at Handy Road garnered the most interest, while the 210,883 square feet site of West Coast Vale drew the highest winning offer due to their excellent attributes and close-proximity to various amenties. Said Sherman Kwek, Chief Executive Officer of CDL Group.
With the local market beginning to recover from a slump, we’re selectively and continuing in seeking good sites to expand our land bank inventory, Mr Kwek said.
With the Handy Road site going to us, we are looking to explore 8 to 10 storeys high, while accommodating about 200 units with a basement carpark across three residential buildings. We will also be exploring the idea of converting the conserved building which is within the site into a clubhouse for the residents.
The attractive site is less than 100 meters away from Dhoby Ghaut MRT, and without a single GLS site made available in the area for the past few years. The winning bid put forth by CDL were quite bullish according to market watchers, as it was 48.9 percent higher than the land price of nearby Sophia Hills sold in 2013 at $1157psf ppr. They had also successfully snag a huge plot of land via collective sale at the former Amber Park recently with a record price tag of $906.7 million.
The estimated breakeven price for Handy Road land parcel will be approximately $2300 to $2400psf.
For the land parcel at West Coast Vale, CDL is planning to construct a 36-storey high building on 2 towers, housing not more than 730 units and with a basement car park.
Based on a market analyst, the high winning bid put forth by such a major player in the industry only reflects the confidence on the 2 sites and the local residential market sentiment going forward. Backed by strong financial muscles as they have already spent above $1.5 billion on this 2 sites and the one along amber road just a few months ago.
First Weekend Sales of Parc Botannia
Singapore – The launch of Parc Botannia by Sing Holdings and Wee Hur Holdings comes as other developers postpone their launches till the beginning of next year. It’s a sign that companies could be looking to revise their price upwards due to the positive market sentiment seen in recent months. Developer sold 230 units at an average price of S$1,270 per square foot on the first weekend of sales on Saturday. They had initially wanted to launch 150 units but eventually made more than 250 units available in the first phase with more than 500 cheques received as indication of interest by purchasers before the soft launch. This is out of the total of 735 units in the whole development spanning across four beautifully designed 22-storey towers.
It was a big day for these potential home buyers balloting a unit of this project in Sengkang. Many buyers said they were attracted to its proximity to the transport nodes such as Thanggam LRT Station, Seletar Mall and Jalan Kayu, a food enclave. They were buying the apartment for investment as the location is very accessible to the City Center with the upcoming expressway as well as Seletar Aerospace Park and Changi Airport in close-proximity, hoping to attract the well-heeled tenants such as those frequent travelers and the future huge workforce coming from the nearby Aviation Hub.
Parc Botannia is the latest large-scale project to hit the market after a quiet September and October. Sing Holdings decided to launch this project now as they felt there will be less competition coming from other projects since many other developers are holding off new sales launches till 2018.
It is sitting on a 99-year leasehold plot of land in Fernvale, adjacent to Thanggam LRT and only a few stations away from Sengkang MRT. National Parks Board will also be managing a 100,000 square-foot park adjacent to it after their completion by the developers.
According to Mr Lee, Chief Executive Officer of Sing Holdings, the strong attributes of this project have attracted an “overwhelming” mixed buyer interest with the most popular units being one and five-bedroom apartments ranging from 431 to 1,679 square foot respectively.
Apart from the beautiful landscaping, unique features and the affordable price tag, there isn’t any new condo projects in the neighborhood from the last two years. Hence, take-up rate will gain momentum going forward into 2018.