http://www.propertyguru.com.sg/rss-feeds Latest Property Market News from PropertyGuru en-us Copyright (c) 2012 PropertyGuru.com.sg All rights reserved. PM 5 http://www.propertyguru.com.sg/property-management-news/2012/5/33161/is-the-grass-really-greener-overseas- propertyguru:news:33161 Fri, 25 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/107901202781486211443/about?hl=en" target="_blank">Andrew Batt</a>: </p><p>More than 400 <a href="http://www.propertyguru.com.sg/overseas-property-for-sale" target="_blank">overseas property</a> deals are being done in Singapore every month, and that number looks set to increase as more developers look to tap into the local penchant for property.<br /><br />No official data exists for the number of Singaporeans who are buying overseas property. The figure of 400 deals every month &ndash; or more than 100 every weekend - is based on information gathered by <em>PropertyGuru</em> from recent exhibitions, and from talking to event attendees, property developers and agents.<br /><br />The landscape in terms of overseas property has changed drastically in just a matter of months. Malaysia, central London and Australia were previously the only real options that many Singaporeans were able to explore without leaving the island. Now, property investment opportunities from China, Thailand, the Philippines and the United States are regularly exhibited here, with the promise of more from new destinations such as Macau, Hong Kong, Taiwan and South America in the pipeline.<br /><br /><strong>SWINGING UK </strong><br /><br />The <a href="http://www.propertyguru.com.sg/singapore-overseas-properties/united-kingdom-property/1" target="_blank">United Kingdom</a> is also seeing far more opportunities from outside prime central London. In the last two weeks alone, projects from Bromley-by-Bow and Hendon have been exhibited in Singapore. Property from the northern British city of Manchester is also expected to feature in a forthcoming exhibition. Australia is also seeing more interest from outside the traditional hotspots of Sydney and Melbourne, such as in South Australia.<br /><br />The importance of Singapore for overseas developers cannot be underestimated, and is highlighted by the regular global launches which take place here. Chelsea Creek, a luxury waterside project in west London, made its debut in Singapore a few weeks ago. The developer St. George picked Singapore ahead of Hong Kong for the worldwide launch of their new development on the back of strong sales of their previous projects. They were rewarded with what the developer described as a &lsquo;significant&rsquo; number of sales of the S$1million &ndash; S$5million units. <em>PropertyGuru</em> understands the number to be in excess of 25 transactions.<br /><br /><strong>COOLING MEASURES A FACTOR </strong><br /><br />Many overseas developers have noted a significant uptick in interest following the introduction of the latest round of cooling measures in early December. Knight Frank Thailand recently reported that more Singaporeans were active on the Thai island of Phuket during the first half of the year, attracted by the fact that property there &ndash; even though among the most expensive in Thailand &ndash; is still substantially cheaper than at home. <br /><br />Any further cooling measures might only drive more local property investors to put their money into bricks and mortar overseas, especially as more overseas developers are set to tout their properties and investment opportunities in Singapore during the coming months.<br /><br /><em><strong>PropertyGuru</strong></em> <em>will be organising The International Property Showcase (TIPS) on 16-17 June 2012 from 10am to 7pm daily at the Orchard Hotel in Singapore. The exclusive event will feature premier overseas developments from Malaysia and across the region. More details coming soon. </em></p><p>&nbsp;</p><p><strong>Related Stories: </strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33155/farrer-drive-site-up-for-tender" target="_blank">Farrer Drive site up for tender</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33156/novena-ville-sold-in-collective-sale-for-s-131-5m" target="_blank">Novena Ville sold in collective sale for S$131.5m</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33142/shoebox-units-almost-inhuman-capitaland-ceo" target="_blank">Shoebox units &quot;almost inhuman&quot;: CapitaLand CEO</a><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33168/hdb-dwellers-drove-demand-for-shoebox-units-in-q1 propertyguru:news:33168 Fri, 25 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>: </p><p>A huge 52 percent of total <a href="http://www.propertyguru.com.sg/singapore-property-listing/property-for-sale/1" target="_blank">residential purchases</a> in Singapore during the first quarter were for units sold between S$1,000 and S$1,500 psf, the first time such homes formed the bulk of sales. <br /><br />A new report from DTZ revealed that home sales in this price bracket have overtaken units sold at S$1,000 psf or less. In addition, sales in this segment increased by 14 percent in Q1, while other segments saw a decline of between 26 and 63 percent. <br /><br />The report was based on caveats lodged for new and secondary home sales using data from URA Realis comprising 53.4 percent of the 6,526 units sold by developers and 2,524 units sold in the secondary market. <br /><br />It added that smaller apartments usually command a higher unit price. Hence the strong demand for affordable units measuring 500 sq ft was the main reason behind the uptick in the unit price bracket to between S$1,000 psf and S$1,500 psf. <br /><br />Shoebox units in the price segment comprised 15 percent of total transactions in Q1, compared to the quarterly average of 11 percent in the past two years.&nbsp; As demand for these homes remain strong, developers continue to feature them in <a href="http://www.propertyguru.com.sg/new-homes-for-sale" target="_blank">new projects</a>. <br /><br />In addition, buyers with HDB addresses drove demand for shoebox units in Q1. Such homes accounted for 472 units or a record high of 16 percent in the total number of transactions done by buyers with HDB addresses. In absolute terms, this is more than double the 234 units in the previous quarter. At the same time, these purchases accounted for 67 percent of the total shoebox market in Q1, a rise from the 55 percent recorded in Q4 2011. <br /><br />&ldquo;Besides singles who may be buying such units for owner-occupation, the rising popularity of shoebox apartments reflects increasing investor demand amongst purchasers with public housing addresses,&rdquo; said Chua Chor Hoon, Head of Asia Pacific Research at DTZ. <br /><br />&ldquo;As a shoebox apartment is smaller than a three room HDB flat, it is unlikely that purchasers with HDB addresses are buying such units for owner-occupation and are thus more likely to be buying for investment.&rdquo;</p><p>&nbsp;</p><p><strong>Related Stories:</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33161/is-the-grass-really-greener-overseas-" target="_blank">Is The Grass Really Greener Overseas?</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33155/farrer-drive-site-up-for-tender" target="_blank">Farrer Drive site up for tender</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33156/novena-ville-sold-in-collective-sale-for-s-131-5m" target="_blank">Novena Ville sold in collective sale for S$131.5m</a><br /><br /><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33155/farrer-drive-site-up-for-tender propertyguru:news:33155 Fri, 25 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>:</p><p>A <a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33039/ura-reserve-list-site-at-farrer-drive-to-launch-fo" target="_blank">residential site at Farrer Drive</a> (<em>pictured</em>) was launched for sale yesterday after a developer committed to bid a minimum price of S$88.89 million, said the Urban Redevelopment Authority (URA). <br /><br />The 99-year leasehold plot was made available for sale on 16 April 2012 under the reserve list system. It has a total area of 6,268.3 sq m with a maximum permissible gross floor area (GFA) of 10,030 sq m and a maximum building height of eight-storeys. <br /><br />The site enjoys good accessibility to major roads and expressways, including Farrer Road, <a href="http://www.propertyguru.com.sg/search/holland-road/condo-directory" target="_blank">Holland Road</a>, Ayer Rajah Expressway (AYE) and the Pan-Island Expressway (PIE).<br /><br />&ldquo;The site is located about 10 minutes&rsquo; drive from Orchard Road, Singapore's premier shopping district, where residents can enjoy diverse shopping, dining and entertainment experiences,&rdquo; said the URA.<br /><br />&ldquo;The future residential development will appeal to families with school-going children. Reputable schools located within the vicinity include ACS International, Nanyang Primary School and St Margaret&rsquo;s Secondary School.&rdquo;<br /><br />The URA noted that the site tender will close on 21 June 2012 and the successful tenderer will be based on the tendered land price only.</p><p>&nbsp;</p><p><strong>Related Stories:</strong>&nbsp;</p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33142/shoebox-units-almost-inhuman-capitaland-ceo" target="_blank">Shoebox units &quot;almost inhuman&quot;: CapitaLand CEO</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33140/more-redevelopment-sites-up-for-sale" target="_blank">More redevelopment sites up for sale</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33152/martin-no-38-hailed-as-building-of-the-year-" target="_blank">Martin No. 38 hailed as 'Building of the Year'</a><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33156/novena-ville-sold-in-collective-sale-for-s-131-5m propertyguru:news:33156 Fri, 25 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>: </p><p>The <a href="http://www.propertyguru.com.sg/project/novena-ville-1438" target="_blank">Novena Ville</a> (<em>pictured</em>) mixed-use development has been sold to Fragrance Realty Ltd, a wholly-owned subsidiary of Fragrance Group Ltd for S$131.5 million.<br /><br />Located along <a href="http://www.propertyguru.com.sg/search/thomson-road/condo-directory" target="_blank">Thomson Road</a>, the freehold project comprises 33 apartment units and 10 shop units. It occupies a land area of approximately 4,746.60 sq m and could potentially generate a gross floor area (GFA) of around 75,453 sq ft, inclusive of balcony space.<br /><br />Marketing agent Credo Real Estate said that the property was acquired through a collective sales exercise that closed on 24 May, with an asking price of between S$125 million and S$135 million.<br /><br />It noted that apartment owners are expected to receive gross sales proceeds of between S$2.1 million and S$2.7 million each, while shop-owners would get between S$4.8 million and S$6.3 million.<br /><br />Credo added that the sale price reflects a land rate of around S$1,730 psf ppr and no development charge is payable.<br /><br />Fragrance Group said that it plans to redevelop the property while acquisition costs and redevelopment will be funded through internal resources and bank borrowings.&nbsp; <br /><br /><br /></p><p><strong>Related Stories: </strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33155/farrer-drive-site-up-for-tender" target="_blank">Farrer Drive site up for tender</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33142/shoebox-units-almost-inhuman-capitaland-ceo" target="_blank">Shoebox units &quot;almost inhuman&quot;: CapitaLand CEO</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33140/more-redevelopment-sites-up-for-sale" target="_blank">More redevelopment sites up for sale</a><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33169/boom-in-malaysian-property-exhibitions propertyguru:news:33169 Fri, 25 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>: </p><p><a href="http://www.propertyguru.com.sg/singapore-overseas-properties/malaysia-property/1" target="_blank">Malaysian properties</a> are gaining in popularity among prospective buyers in Singapore, witnessed by the large number of property exhibitions being advertised in various newspapers today that are offering good investment opportunities. &nbsp;<br /><br />For instance, there&rsquo;s SkyPeak Residences by SP Setia, which will be featured at a two-day exhibition starting tomorrow at the developer&rsquo;s sales gallery at Harbourfront Tower 1, #01-06 at 11am and 2.30pm. Nestled within the Setia Tropika commercial precinct, the development is within close proximity to the causeway and Johor Bahru and is a stone&rsquo;s throw away from banks and retail outlets. Other perks include a multi-tier security system and hotel style concierge service. <br /><br />At the same time, Garden Plaza in Cyberjaya, sited near Kuala Lumpur, will be showcased over the weekend at the Mandarin Orchard Hotel, Meeting Suites 883, Level 8, from 10am &ndash; 7pm daily. The mixed-use development is expected to see strong interest from investors due to its strategic location, easy accessibility and unique layout. In addition, tenants can take advantage of the commercial and retail amenities at their doorstep as well as guaranteed investment returns. <br /><br />Meanwhile, The Hibiscus at Port Dickson, a luxury development in the shape of a Hibiscus and located on the sea, will be exhibited at Level 2 of the Lengkuas Room at Marriott Hotel Singapore this coming Saturday and Sunday from 11am to 7pm daily. Developed by Kuala Lumpur Metro Group, Malaysia&rsquo;s largest water homes developer, each home comes with a private pool and steam sauna. Phase One is already sold out while Phase Two has limited units only. <br /><br />Looking ahead, <a href="http://www.propertyguru.com.sg/" target="_blank"><em>PropertyGuru</em></a>, Asia&rsquo;s leading property portal will also be organising The International Property Showcase (TIPS) on 16 and 17 June from 10am to 7pm daily that&rsquo;s expected to see a strong turn-out from Malaysian developers. Firms taking part include Dijaya Corporation Berhad and Malaysia Resources Corporation Berhad, amongst others. <br /><br />Additionally, property consultants and banks will be in attendance to assist with queries from potential buyers.</p><p>&nbsp;</p><p><strong>Related Stories:&nbsp;</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33161/is-the-grass-really-greener-overseas-" target="_blank">Is The Grass Really Greener Overseas?</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33168/hdb-dwellers-drove-demand-for-shoebox-units-in-q1" target="_blank">HDB dwellers drove demand for shoebox units in Q1</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33155/farrer-drive-site-up-for-tender" target="_blank">Farrer Drive site up for tender </a><br /><p>&nbsp;</p><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33142/shoebox-units-almost-inhuman-capitaland-ceo propertyguru:news:33142 Thu, 24 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>: </p><p>Singapore should put restrictions on the rising number of shoebox units as they are &ldquo;almost inhuman&rdquo;, according to CapitaLand CEO Liew Mun Leong (<em>pictured</em>). <br /><br />&ldquo;I am dead against shoebox developments,&rdquo; he said in an article by <em>Bloomberg</em>. &ldquo;The government should intervene. Singapore&rsquo;s land is very precious and you are wasting your scarce resources&rdquo; by developing shoebox homes. <br /><br />Last week, the government said that it was monitoring the situation, after <a href="http://www.propertyguru.com.sg/experts-marketviews/tag/private-home-sales-reach-highest-level-since-2009" target="_blank">private home sales</a> rose to a near three-year high with record purchases of shoebox units, which measure less than 50 sq m.<br /><br />The country&rsquo;s population growth, skyrocketing property prices and scarce land supply have prompted many developers to shrink new apartments. Meanwhile, National Development Minister Khaw Boon Wan said in Parliament last week that the government may impose measures to restrict the sale of shoebox units.<br /><br />Latest data shows that 1,764 shoebox apartments were sold in Q1, accounting for 27 percent of all home sales during the period. Units priced at less than S$750,000 made up 42 percent of total home sales in the quarter, up from 25 percent in the previous quarter.<br /><br />Liew, who grew up in a one-room unit with nine people, said shoebox apartments are &ldquo;almost inhuman&rdquo;. <br /><br />&ldquo;It&rsquo;s not good for the welfare of the family to feel that constrained,&rdquo; he noted, adding that Singapore should implement a minimum size for <a href="http://www.propertyguru.com.sg/new-homes-for-sale" target="_blank">homes</a>.<br /><br />Pratik Burman Ray, an analyst from HSBC Holdings Plc in Singapore, said the trend of shoebox living is not unique to Singapore. Developers in Indonesia and Thailand have built homes smaller than 35 sq m while apartments in Hong Kong measure less than 50 sq m and usually house two to three people.<br /><br />&ldquo;I wonder if this phenomenon is Singapore specific or a shift in buyer preference, and then the question is should it be regulated at all,&rdquo; he said. &ldquo;What&rsquo;s needed is greater transparency to protect home buyers, which is perhaps more critical.&rdquo;<br /><br />Meanwhile, CapitaLand is lobbying against the development of shoebox units.<br /><br />&ldquo;I used to joke that when I sat on the sofa, I don&rsquo;t need the remote control to switch on the TV, I use my toes,&rdquo; said Liew. &ldquo;If you build 200 sq ft, 300 sq ft (around 20 &ndash; 30 sq m) for a family of two or three, you might as well stay in a box. There needs to be some degree of comfort level.&rdquo;</p><p>&nbsp;</p><p><strong>Related Stories:&nbsp;</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33140/more-redevelopment-sites-up-for-sale" target="_blank">More redevelopment sites up for sale</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33131/haus-serangoon-garden-clinches-bca-green-mark-plat" target="_blank">Haus @ Serangoon Garden clinches BCA Green Mark Platinum award</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33116/tampines-ave-10-site-awarded-for-s-252-78m" target="_blank">Tampines Ave 10 site awarded for S$252.78m</a><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33140/more-redevelopment-sites-up-for-sale propertyguru:news:33140 Thu, 24 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>:</p><p>Two residential sites located at <a href="http://www.propertyguru.com.sg/search/hillview-avenue/condo-directory" target="_blank">Hillview Avenue</a> and Amber Road have been put up for sale.<br /><br />The first plot at 63 Hillview Avenue measures 230,915 sq ft and has a gross plot ratio of 1.92. Indicative pricing for the site is S$330 million, which works out to S$925 psf ppr inclusive of the S$80 million development charge. <br /><br />Colliers International, the marketing agent, said that the site may be developed into a 10-storey residential development offering 370 apartments at an average size of 1,200 sq ft each.<br /><br />Currently, the site houses the Lam Soon Industrial Building (<em>pictured</em>), a 10-storey light industrial development with 154 warehouses and light industrial factories.<br /><br />&ldquo;Given that there is a strong demand for light industrial units, the successful buyer can also consider additions and alteration works to retain the existing industrial building, subject to URA's approval,&rdquo; noted Tang Wei Leng, Executive Director Of Investment Services at Colliers.<br /><br />The site tender will end on 28 June.<br /><br />The second parcel at <a href="http://www.propertyguru.com.sg/search?q=amber+road&amp;search_select=2" target="_blank">Amber Road</a> includes three neighbouring landed properties with a total land area of nearly 28,409 sq ft. The site has a gross plot ratio of 2.8 and is zoned for residential development under the 2008 Master Plan. <br /><br />Marketing agent Credo Real Estate noted that the sellers expect offers of between S$73 million and S$80 million, which reflects a land price of around S$1,243 psf ppr to S$1,318 psf ppr after factoring the estimated development charge of S$25 million. <br /><br />Yong Choon Fah, Executive Director at Credo, said: &ldquo;Interestingly, these three plots at Amber Road are the last standing landed properties on the road, which is a well-known address for high-rise condominiums, like Amber Point, Amber Park and King's Mansion, that command views of the sea.&rdquo;<br /><br />The tender for the site will close on 22 June.</p><p>&nbsp;</p><p><strong>Related Stories:&nbsp;</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33131/haus-serangoon-garden-clinches-bca-green-mark-plat" target="_blank">Haus @ Serangoon Garden clinches BCA Green Mark Platinum award</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33116/tampines-ave-10-site-awarded-for-s-252-78m" target="_blank">Tampines Ave 10 site awarded for S$252.78m</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33109/what-can-you-buy-for-less-than-s-1-million-" target="_blank">What can you buy for less than S$1 million?</a><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33152/martin-no-38-hailed-as-building-of-the-year- propertyguru:news:33152 Thu, 24 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>:</p><p>SC Global&rsquo;s warehouse-themed apartment development &ndash; <a href="http://www.propertyguru.com.sg/project/martin-no-38-1249" target="_blank">Martin No. 38</a> (<em>pictured</em>) has clinched the prestigious Building of the Year Award and the top Design Award in the residential category at the Singapore Institute of Architects (SIA) Architectural Design Awards 2012.<br /><br />The &lsquo;Building of the Year&rsquo; award is the top accolade given by the institute, which recognises developments from all categories including residential, commercial, institutional, industrial, infrastructure and transport.<br /><br />Martin No. 38 is designed by Kerry Hill Architects, drawing inspiration from the warehouse lofts of Lower Manhattan in New York. Its design integrates an urban architecture of raw concrete and base metal finishes highlighting textures of the materials in their natural form.<br /><br />&ldquo;Martin No.38 is the most elegantly designed and well-crafted building,&rdquo; said the judges who cited the development&rsquo;s unconventional interpretation of luxury and its strong attention to detail.<br /><br />&ldquo;The form is clean and well-proportioned, providing sensible volumes to create good spaces and apartment layouts, beautiful lobbies, gardens and amenities. Without a doubt, the architecture of Martin No.38 is arresting in its clarity, rich in meaning, and is ultimately a timeless contribution to Singapore&rsquo;s architectural heritage,&rdquo; they added.<br /><br />Two other SC Global developments were conferred Honourable Mention, meaning that the developer bagged two of the three honours within the residential category.<br /><br />The ultra-luxurious condominium <a href="http://www.propertyguru.com.sg/project/the-marq-on-paterson-hill-994" target="_blank">The Marq on Paterson Hill</a> and the nine-storey Newton 200 building received Honourable Mention in the residential and commercial categories respectively. Both projects were designed by SCDA Architects.</p><p>&nbsp;</p><p><strong>Related Stories:</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33142/shoebox-units-almost-inhuman-capitaland-ceo" target="_blank">Shoebox units &quot;almost inhuman&quot;: CapitaLand CEO</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33140/more-redevelopment-sites-up-for-sale" target="_blank">More redevelopment sites up for sale</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33131/haus-serangoon-garden-clinches-bca-green-mark-plat" target="_blank">Haus @ Serangoon Garden clinches BCA Green Mark Platinum award</a><br /><br /><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33131/haus-serangoon-garden-clinches-bca-green-mark-plat propertyguru:news:33131 Wed, 23 May 2012 00:00:00 +0800 PropertyGuru.com.sg : By <a href="https://plus.google.com/106062641248922895123/posts" target="_blank">Cheryl Tay</a>:<br /><br />In recognition of its green designs and technologies, Haus @ Serangoon Garden (<em>pictured</em>) has received the BCA Green Mark Platinum award, making history as the very first residential estate in the country to receive the honour.<br /><br />&ldquo;This is a first time we have awarded the Green Mark Platinum rating to a landed housing estate in Singapore,&rdquo; said John Keung, CEO of BCA.<br /><br />&ldquo;We are indeed encouraged to see developers like CDL and Hong Realty making the effort to bring environmentally sustainable designs to not only high-rise buildings but individual landed homes.&rdquo;<br /><br />Located at <a href="http://www.propertyguru.com.sg/search?q=serangoon+garden+way&amp;search_select=all&amp;search_btn=Go" target="_blank">Serangoon Garden Way</a>, Haus @ Serangoon Garden includes 96 landed terrace <a href="http://www.propertyguru.com.sg/new-homes-for-sale" target="_blank">houses</a> and is jointly developed by Hong Realty (Private) Limited and City Developments Limited (CDL). <br /><br />Set to be launched in mid-2012, Haus @ Serangoon Garden&rsquo;s design uses both passive and active green building approaches to ensure that a comprehensive sustainable design is integrated in the building.<br /><br />Every house comes equipped with state-of-the art green technology that helps save water and energy. It is also the first landed housing development in the country to uses a one kilowatt-peak photovoltaic (PV) system, which captures solar power to offset the grid electricity consumption.<br /><br />Other green features include the use of rainwater for gardening and an innovative air-conditioner heat recovery system.<br /><br />About four percent of the total construction cost was allotted to incorporate green innovations, which will likely save up to 40 percent energy for each house.<br /><br />&ldquo;Haus @ Serangoon Garden is a landmark residential development for us as we are able to deliver significant measurable and direct cost benefits to individual homebuyers over a long-term period,&rdquo; said Kwek Leng Joo, Managing Director at CDL.<br /><br /><br /><strong>Related Stories:</strong><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33116/tampines-ave-10-site-awarded-for-s-252-78m" target="_blank">Tampines Ave 10 site awarded for S$252.78m</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33109/what-can-you-buy-for-less-than-s-1-million-" target="_blank">What can you buy for less than S$1 million?</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33107/new-homes-on-the-rise-in-the-cbd" target="_blank">New homes on the rise in the CBD</a> http://www.propertyguru.com.sg/property-management-news/2012/5/33116/tampines-ave-10-site-awarded-for-s-252-78m propertyguru:news:33116 Tue, 22 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>: </p><p>The tender for a residential site (<em>pictured</em>) at <a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33091/tampines-ec-site-attracts-muted-interest" target="_blank">Tampines Avenue 10 (Parcel A)</a> has been awarded to a consortium comprising F.E. Lakeside Ltd, FCL Topaz Ltd and Sekisui House Ltd.<br /><br />It submitted the highest bid of S$252.78 million, which works out to around S$417.86 psf ppr.<br /><br />Chia Siew Chuin, Director of Research &amp; Advisory at Colliers International, said the S$252.78 million price tag for the site reflects a break-even cost of between S$750 psf and S$800 psf. <br /><br />Launched for sale on 28 March 2012, the 99-year leasehold site has a total area of 20,071.1 sq m with a permissible gross floor area (GFA) of 56,200 sq m and is zoned for residential development.<br /><br />&ldquo;Nevertheless, it is in close proximity to Temasek Polytechnic and the recreational areas of Bedok Reservoir Park. There should be buyer interest from locals as well as foreigners who work in Changi Business Park and <a href="http://www.propertyguru.com.sg/singapore-property-listing/hdb/tampines" target="_blank">Tampines Regional Centre</a>,&rdquo; noted Chia.</p><p>&nbsp;</p><p><strong>Related Stories:&nbsp;</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33109/what-can-you-buy-for-less-than-s-1-million-" target="_blank">What can you buy for less than S$1 million?</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33107/new-homes-on-the-rise-in-the-cbd" target="_blank">New homes on the rise in the CBD</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33114/hot-opportunities-in-an-even-hotter-market" target="_blank">Hot opportunities in an even hotter market</a><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33109/what-can-you-buy-for-less-than-s-1-million- propertyguru:news:33109 Mon, 21 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>: </p><p>A number of private homes in Singapore are going for less than S$1 million, but their location and d&eacute;cor may not be on par with the pricier developments. However, these properties could end up being a good deal if they are located in an area that&rsquo;s set to be rejuvenated or developed. <br /><br />According to Nicholas Mak, Head of Research at SLP International Property Consultancy, about 1,249 private units of 1,000 sq ft or more were sold below S$1 million from 1 January to 4 May this year.<br /><br />The figure includes new and resale private and executive condominiums (ECs). <br /><br />Mak added that most sales were for 99-year resale condos sited in suburban areas. Meanwhile, freehold properties were mostly located in city fringe areas such as <a href="http://www.propertyguru.com.sg/search/geylang/property-listings" target="_blank">Geylang</a>.<br /><br />Ong Kah Seng, Director at R'ST Research, said that while homes priced below S$1 million could be found in the primary and secondary market, it is rarer in the former as the rise in land prices has forced developers to offer higher psf prices and smaller units. <br /><br />New homes that are at least 1,000 sq ft and priced below S$1 million are generally located in north-eastern areas like Sengkang, Hougang and Punggol.<br /><br />In the first four months of 2012, there were around 74 transactions at The Minton (<em>pictured</em>), a 99-year leasehold condo at Lorong Ah Soo, while 36 transactions were recorded at <a href="http://www.propertyguru.com.sg/project/riversound-residence-21119" target="_blank">Riversound Residence</a>, another leasehold condo in Sengkang.<br /><br />Upcoming condo developments in Pasir Ris also saw good take-up, with 24 and 12 sales recorded at The Palette and Ripple Bay respectively. &nbsp;<br /><br />&ldquo;(These areas) are more valued propositions as the north-east promises exciting future growth while Pasir Ris is an established and refreshing resort-living area,&rdquo; noted Ong.</p><p>&nbsp;</p><p><strong>Related Stories:&nbsp;</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33107/new-homes-on-the-rise-in-the-cbd" target="_blank">New homes on the rise in the CBD</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33090/absd-dented-property-demand-not-prices" target="_blank">ABSD dented property demand, not prices</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33091/tampines-ec-site-attracts-muted-interest" target="_blank">Tampines EC site attracts muted interest</a><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33107/new-homes-on-the-rise-in-the-cbd propertyguru:news:33107 Mon, 21 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>: </p><p>Singapore&rsquo;s central business district (CBD) is evolving from a traditionally corporate location, with more buyers looking for prime residential properties in the area. <br /><br />According to Savills Singapore, more than 4,600 new homes will likely be completed in the district by end-2015. A number of these homes will be located in Shenton Way, Robinson Road and Tanjong Pagar. This is expected to boost the population of the CBD by 14 times since 2007, according to Alan Cheong, Research Head at Savills. <br /><br />Meanwhile, various upcoming projects are seeing strong interest from buyers despite the high prices. <br /><br />For instance, Far East Organization's The Clift (<em>pictured</em>) has sold 250 out of the 312 units available, with the smallest unit going for around S$2 million.<br /><br />The condo development along McCallum Street offers one- to two-bedroom units priced at S$2,579 psf on average. At the same time, the 62-storey <a href="http://www.propertyguru.com.sg/project/altez-2651" target="_blank">Altez condo</a> in Tanjong Pagar has sold 213 of the 280 units on offer at an average price of S$2,206 psf. <br /><br />Over at 70 Shenton Way, the upcoming mixed development Eon Shenton has sold 95 units of the total 132 at a median price of S$2,400 psf. The 99-year project is jointly developed by Fission Group, Macly Group, Roxy-Pacific Holdings, Pinnacle Assets and architect-turned-developer Chee Hsian Sing.<br /><br />Other notable projects such as <a href="http://www.propertyguru.com.sg/project/robinson-suites-20510" target="_blank">Robinson Suites</a>, the mixed-use Oxley Tower and Skysuites @ Anson will complement earlier developments such as Marina Bay Residences, The Lumiere and Icon.<br /><br />The new projects will draw in the crowds even after office hours, in line with the government's plan to transform the CBD into a place to work, live and play.<br /><br />&ldquo;The city is finally a hip place to be seen and live and no longer just a place for a quick beer after work,&rdquo; said Sulian Tan-Wijaya, Senior Director for Retail and Lifestyle at Savills Singapore.<br /><br />Dr Chua Yang Liang, Research Head at Jones Lang LaSalle South-east Asia, noted that downtown living could be popular, specifically with younger professionals.<br /><br />&ldquo;In other mature cities like New York, downtown living is part of the city fabric. In fact, in some cities in the US, the silver population will move back into the city because of the amenities.&rdquo;</p><p>&nbsp;</p><p><strong>Related Stories:</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33090/absd-dented-property-demand-not-prices" target="_blank">ABSD dented property demand, not prices</a><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33091/tampines-ec-site-attracts-muted-interest" target="_blank"><br />Tampines EC site attracts muted interest</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33103/asia-pac-investment-volumes-slid-42-" target="_blank">Asia Pac investment volumes slid 42%</a><br /><br /><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33114/hot-opportunities-in-an-even-hotter-market propertyguru:news:33114 Mon, 21 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>: </p><p>While many analysts see Singapore&rsquo;s property market as being too hot to handle, some have highlighted its potential, especially for long-term equity investors. <br /><br />Over the last three years, the government has introduced measures to cool the market. The most recent of which is the <a href="http://www.propertyguru.com.sg/property-management-news/2011/12/31825/govt-imposes-additional-tax-for-private-property" target="_blank">ABSD</a> (additional buyer&rsquo;s stamp duty) on foreign buyers to curb investment demand. <br /><br />Meanwhile, data from the Urban Redevelopment Authority (URA) showed that private home prices moderated by 0.1 percent in Q1. Sub-sale transactions, an indication of speculative activity, also dropped significantly. <br /><br />In general, it appears that efforts to stabilise the property market are working, despite the on-going demand for housing. Low interest rates and high liquidity pushed sales to a near three-year high in April, which could result in more policy intervention. <br /><br />Daniel Martin, an economist at Capital Economics Asia, noted that the government faces a crucial test in bringing down prices over the coming year. <br /><br />&ldquo;If prices don&rsquo;t start to cool in the next year, then we&rsquo;re going to be in a fairly dangerous situation where there&rsquo;s risk of a sharp fall,&rdquo; he said. <br /><br />&ldquo;My sense is they&rsquo;ll go a little further and (require) more down payments on <a href="http://www.propertyguru.com.sg/mortgage" target="_blank">mortgages</a> and standard capital requirements on banks &mdash; other macro-prudential measures that make it a little more difficult to buy a house.&rdquo;<br /><br />Kristy Fong, portfolio manager at Aberdeen Asset Management, said that while share prices have re-rated this year, the firm is &ldquo;still happy, and positive on our stocks long-term, because property tends to be a reflection of the economy, and we&rsquo;re generally quite optimistic about the Asian region&rdquo;. <br /><br /><br /></p><p><strong>Related Stories:</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33109/what-can-you-buy-for-less-than-s-1-million-" target="_blank">What can you buy for less than S$1 million?</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33107/new-homes-on-the-rise-in-the-cbd" target="_blank">New homes on the rise in the CBD</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33090/absd-dented-property-demand-not-prices" target="_blank">ABSD dented property demand, not prices</a> http://www.propertyguru.com.sg/property-management-news/2012/5/33090/absd-dented-property-demand-not-prices propertyguru:news:33090 Fri, 18 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>: </p><p>The 10 percent additional buyer&rsquo;s stamp duty (ABSD) imposed in December 2011 has affected the demand for <a href="http://www.propertyguru.com.sg/new-homes-for-sale" target="_blank">Singapore property</a>, but not prices, according to Nicholas Holt, Asia-Pacific Research Director at Knight Frank.<br /><br />&ldquo;Prices not only held up but actually increased slightly at the very top end of the Singapore market in Q1 2012,&rdquo; he said.<br /><br />Holt added that this was not only due &ldquo;to fairly resilient domestic demand, but also due to wealthy Chinese, Indonesian and Indian buyers who continued to buy in this segment of the market undeterred by the surtax&rdquo;. <br /><br />Meanwhile, Knight Frank expects Singapore&rsquo;s property market to be among the world&rsquo;s strongest performers this year, along with <a href="http://www.propertyguru.com.sg/search?q=London+&amp;search_select=4&amp;search_btn=Go" target="_blank">London</a>, Moscow, Jakarta and Nairobi. <br /><br /><br /><br /><strong>Related Stories:</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33079/s-pore-property-market-slowing-down-" target="_blank">S'pore property market slowing down?</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33085/sc-global-unveils-herm-s-apartment-amid-market-slu" target="_blank">SC Global unveils Herm&egrave;s apartment amid market slump</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33070/what-triggered-the-record-high-home-sales-in-april" target="_blank">What triggered the record high home sales in April?</a><br /><br /><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33091/tampines-ec-site-attracts-muted-interest propertyguru:news:33091 Fri, 18 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>: </p><p>An executive condominium (EC) site (<em>pictured</em>) at Tampines Avenue 10 (Parcel A) has seen just three bids, with a consortium comprising F.E. Lakeside Ltd, FCL Topaz Ltd and Sekisui House Ltd offering the highest bid of S$252.78 million. &nbsp;<br /><br />&ldquo;As the site&rsquo;s location is more challenging, it attracted only three bids. The top bid of S$252.78 million or S$418 psf ppr reflects a breakeven cost of S$800 psf to S$820 psf. It is likely that the new project will be priced around S$900 psf,&rdquo; said Li Hiaw Ho, Executive Director at CBRE.<br /><br />The plot is located at the westernmost part of <a href="http://www.propertyguru.com.sg/singapore-property-listing/hdb/tampines" target="_blank">Tampines New Town</a> and is close to Tampines Retail Park, Tampines Polytechnic and United World College of South East Asia. <br /><br />Chia Siew Chuin, Director of Research &amp; Advisory at Colliers, commented that the response was &ldquo;relatively subdued,&rdquo; as it was &ldquo;not within walking distance to the Tampines Regional Centre or any MRT station&rdquo;. <br /><br />In comparison, another EC site at Tampines Central 7 / Tampines Avenue 7 / Tampines Avenue 9 received six bids when the tender closed last week. <br /><br />&ldquo;Nevertheless, it is in close proximity to Temasek Polytechnic and the recreational areas of Bedok Reservoir Park. There should be buyer interest from locals as well as foreigners who work in <a href="http://www.commercialguru.com.sg/search/changi-business-park/commercial" target="_blank">Changi Business Park</a> and Tampines Regional Centre,&rdquo; noted Chia.<br /><br />The URA (Urban Redevelopment Authority) will award the tender after all the bids have been evaluated.</p><p>&nbsp;</p><p><strong>Related Stories:&nbsp;</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33090/absd-dented-property-demand-not-prices" target="_blank">ABSD dented property demand, not prices</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33079/s-pore-property-market-slowing-down-" target="_blank">S'pore property market slowing down?</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33085/sc-global-unveils-herm-s-apartment-amid-market-slu" target="_blank">SC Global unveils Herm&egrave;s apartment amid market slump</a><br /><br /><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33103/asia-pac-investment-volumes-slid-42- propertyguru:news:33103 Fri, 18 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>: </p><p>With market sentiment dwindling down, investment volumes fell 42 percent quarter-on-quarter in Q1 2012, according to CBRE&rsquo;s latest report. <br /><br />&ldquo;Market sentiment remained subdued in Q1 2012 although concern over the impact of the Eurozone debt crisis on the global economy eased to a certain extent,&rdquo; the report noted. <br /><br />Altogether, the region recorded a total of US$11.6 billion (S$14.769 billion) worth of investments for Q1. <br /><br />The slowdown was attributed to the slow start of the year, following the New Year holiday in January. In addition, the high investment volumes in H2 2011 removed many assets from the market. <br /><br />Fortunately, <a href="http://www.propertyguru.com.sg/singapore-overseas-properties/hong-kong-property/1" target="_blank">Hong Kong&rsquo;s</a> investment volume rose by 100 percent quarter-on-quarter, backed by the improved lending environment.<br /><br />Buying activity was dominated by Asian Reits, domestic private investors and end-users. These sectors jointly accounted for 55 percent of total investment turnover, a rise from 44 percent in Q4 2011. <br /><br />&ldquo;Many individual investors acquired strata-titled space or small sized buildings, a trend most evident in Hong Kong and Singapore. State-owned Enterprises (SOEs) in China acquired several <a href="http://www.commercialguru.com.sg/office" target="_blank">office properties</a> for self-use whilst another noteworthy trend was the return of Australian superannuation funds to their domestic market,&rdquo; said the report. </p><p>&nbsp;</p><p><strong>Related Stories:</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33090/absd-dented-property-demand-not-prices" target="_blank">ABSD dented property demand, not prices</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33091/tampines-ec-site-attracts-muted-interest" target="_blank">Tampines EC site attracts muted interest</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33079/s-pore-property-market-slowing-down-" target="_blank">S'pore property market slowing down?</a><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33104/property-exhibitions-galore-in-singapore-this-week propertyguru:news:33104 Fri, 18 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a> and <a href="https://plus.google.com/106062641248922895123/posts" target="_blank">Cheryl Tay</a>:&nbsp; </p><p>This weekend will see a hive of activity with regards to overseas and local property exhibitions taking place in Singapore. <br /><br /><a href="http://www.propertyguru.com.sg/search?q=london+&amp;search_select=4&amp;search_btn=Go" target="_blank">London</a>, a perennial favourite among buyers and investors in the city state will be featured prominently. Streamlight Tower in Canary Wharf, a 999-year leasehold luxury development with skyline views and a 24-hour concierge, will be showcased in the Windows East Room on the 20th floor of the Four Seasons Hotel from 11am to 7pm on 19 and 20 May.<br /><br />At the same time and date over at the Ritz-Carlton Hotel, potential investors and buyers can find out more about The Carlton Place and The Lawns, both prime leasehold properties in London.<br /><br />Malaysian properties will also be on offer with <a href="http://www.propertyguru.com.sg/singapore-overseas-properties/3317/m-city-jalan-ampang" target="_blank">M City in Kuala Lumpur</a> being exhibited at the Orchard Room on level four of Raffles Convention Centre. There will also be a property seminar from 11am to 7pm, covering topics such as Malaysia&rsquo;s housing prices and the transformation plan for greater KL / Klang Valley.<br /><br />A beachfront property in Penang will also be launched at Shangri-La Hotel. Interested buyers can head to the Pink Lotus room on the Mezzanine Floor on 19 and 20 May, from 11am to 7pm, to learn more about the freehold property, which boasts panoramic seaviews. Additionally, it is located within close proximity to Penang International Airport. <br /><br />Meanwhile, Infinity 8 Apartments, a prime freehold development in Melbourne, Australia, will be exhibited at Singapore Marriott Hotel&rsquo;s Lengkuas Room (level two) on 19 and 20 May from 10:30am to 7pm daily. The project is just minutes&rsquo; walk to the Royal Melbourne Institute of Technology (RMIT), Melbourne University and Queen Victoria Market.<br /><br />Singapore isn&rsquo;t left out either. AZ@Paya Lebar, a rare freehold industrial space opposite Macpherson MRT station and near the upcoming Paya Lebar Central, will be showcased over the weekend at its sales office along Paya Lebar Road. <br /><br /><br /><br /><strong>Related Stories:</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33090/absd-dented-property-demand-not-prices" target="_blank">ABSD dented property demand, not prices</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33091/tampines-ec-site-attracts-muted-interest" target="_blank">Tampines EC site attracts muted interest</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33103/asia-pac-investment-volumes-slid-42-" target="_blank">Asia Pac investment volumes slid 42%</a><br /><br /><p>&nbsp;</p><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33079/s-pore-property-market-slowing-down- propertyguru:news:33079 Thu, 17 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>: </p><p>A report released by property consultancy Jones Lang LaSalle (JLL) has highlighted a notable decline in Singapore&rsquo;s <a href="http://www.propertyguru.com.sg/singapore-property-listing/property-for-sale/1" target="_blank">residential property</a> market. <br /><br />Only 300 housing units were completed in Q1 2012, down 36.2 percent from last quarter. <br /><br />According to JLL, &ldquo;Sales volume continues to fall as the impact of the new measures is felt. <a href="http://www.propertyguru.com.sg/singapore-property-listing/property-for-rent/1" target="_blank">Rents</a> for residential properties continue to fall as supply hits the market&rdquo;. <br /><br />For its 12-month outlook, JLL forecasts a decline in rents and capital values for properties in the prime districts due to supply pressure as well as the effects of the latest cooling measures. </p><p>&nbsp;</p><p><strong>Related Stories:</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33070/what-triggered-the-record-high-home-sales-in-april" target="_blank">What triggered the record high home sales in April?</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33067/govt-releasing-5-residential-sites-this-month" target="_blank">Govt releasing 5 residential sites this month</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33076/real-estate-sentiment-improves-in-q1" target="_blank">Real estate sentiment improves in Q1</a><p>&nbsp;</p><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33085/sc-global-unveils-herm-s-apartment-amid-market-slu propertyguru:news:33085 Thu, 17 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>: </p><p>Luxury property developer SC Global Developments has unveiled a private apartment at <a href="http://www.propertyguru.com.sg/project/the-marq-on-paterson-hill-994" target="_blank">The Marq on Paterson Hill</a> that&rsquo;s been decked out by French brand Herm&egrave;s - a world&rsquo;s first. <br /><br />&ldquo;We are extremely pleased this project with Herm&egrave;s has presented a distinguished combination of craftsmanship, focus on design and finest quality materials,&rdquo; said Simon Cheong, Chairman and Chief Executive of SC Global.<br /><br />&ldquo;Each property and apartment in our portfolio is a jewel, we handcraft every unit and the project accomplished at The Marq is an epitome of these efforts.&rdquo;<br /><br />The apartment is not for sale but SC Global will use it to host private engagements.&nbsp;&nbsp; &nbsp;<br /><br />Meanwhile, an <a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32997/high-end-market-on-a-downward-spiral-" target="_blank">earlier report on <em>PropertyGuru</em></a> said the developer expected to record weaker profits from its ready-for-occupancy projects in Q1 2012, with less than half of the units released at The Marq having been sold. <br /><em><br />Image: Living room of the luxury apartment decorated by Herm&egrave;s. </em><br /><br /><br /><br /><strong>Related Stories: </strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33079/s-pore-property-market-slowing-down-" target="_blank">S'pore property market slowing down?</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33070/what-triggered-the-record-high-home-sales-in-april" target="_blank">What triggered the record high home sales in April?</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33067/govt-releasing-5-residential-sites-this-month" target="_blank">Govt releasing 5 residential sites this month</a><p>&nbsp;</p><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33070/what-triggered-the-record-high-home-sales-in-april propertyguru:news:33070 Wed, 16 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>:</p><p>Various factors caused April&rsquo;s private home sales, excluding executive condos (ECs), to hit 2,487 units. This is the highest figure since the sales volume peaked at 2,772 units in July 2009. <br /><br />&ldquo;Not only did demand chase supply, it in fact exceeded it because <a href="http://www.propertyguru.com.sg/new-homes-for-sale" target="_blank">new homes</a> launched for the month only numbered 2,386 units,&rdquo; said Alan Cheong, Head of Research at Savills, adding that the uptrend could indicate a stronger market. <br /><br />Mohamed Ismail, CEO of PropNex Realty, said: &ldquo;It is clearly the HDB upgraders who are entering the private property market; these are genuine buyers with mid- to long-term perspectives sustaining the market in the first quarter of 2012.&rdquo;<br /><br />He added that buying trends have not been affected by the recent cooling measures, although the policies have created short-term speculation in the <a href="http://www.propertyguru.com.sg/condo-directory" target="_blank">private property resale market</a>.<br /><br />&ldquo;The low bank borrowing interest rates and HDB upgraders&rsquo; interest had contributed and certainly helped boost the April sales figure,&rdquo; noted Ismail.<br /><br />Chia Siew Chuin, Director of Research &amp; Advisory at Colliers, observed that developers had shifted their focus to previously launched developments last month while delaying new launches to May, which could be attributed to the upcoming amendments in the Housing Developers Rules. <br /><br />Following the four consecutive months that the market has shown improved performance, JLL has revised its previous forecast for this year from 18,000 to 20,000 units, &ldquo;provided no further policy measures are introduced&rdquo;. <br /><br />Ismail expects this month&rsquo;s sales figures to be around 2,500 to 3,000 units as developers have prepared a slew of new launches including ECs.<br /><br />However, JLL cautioned that &ldquo;the risk of further policy intervention to maintain more stable market demand cannot be ruled out. We hold our earlier position that the policy to curtail excessive demand of developers&rsquo; sales could come into the market within the next few weeks&rdquo;. <br /><br />Colliers added that with no external risks and further policies, &ldquo;strong demand driven by abundant oncoming supply of private residential homes is likely to drive overall take-up for new private homes in 2012 to beyond 16,800 units, toppling 2010&rsquo;s record high of 16,292 units&rdquo;. </p><p>&nbsp;</p><p><strong>Related Stories:</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33067/govt-releasing-5-residential-sites-this-month" target="_blank">Govt releasing 5 residential sites this month</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33058/private-home-sales-highest-since-2009" target="_blank">Private home sales highest since 2009</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33054/property-market-cools-but-worries-remain-khaw" target="_blank">Property market cools, but worries remain: Khaw</a><p>&nbsp;</p><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33067/govt-releasing-5-residential-sites-this-month propertyguru:news:33067 Wed, 16 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>: </p><p>The Housing and Development Board (HDB) and Urban Redevelopment Authority (URA) will launch the tender for five residential sites this month, offering developers and home buyers more options for <a href="http://www.propertyguru.com.sg/new-homes-for-sale" target="_blank">private housing</a>. <br /><br />Released under the Government Land Sales (GLS) programme for H12012, the 99-year leasehold sites could yield a total of 2,100 units. <br /><br />Four land parcels at Tai Thong Crescent, Prince Charles Crescent, Kim Tian Road (<em>pictured</em>) and Sengkang West Way were released under the reserve list while a plot at Pheng Geck Avenue was launched under the confirmed list.<br /><br />Apart from the Tai Thong Crescent site which has been slated for flat development, the other parcels can be developed into <a href="http://www.propertyguru.com.sg/condo-directory" target="_blank">condos</a> or flats. <br /><br />The Pheng Geck Avenue and Tai Thong Crescent plots are located near Potong Pasir MRT station and are zoned for residential use and residential with commercial use on the first-storey respectively. Measuring 0.49-ha and 0.82-ha, they can accommodate 200 and 267 units.&nbsp; <br /><br />The sites at Kim Tian Road and Prince Charles Crescent are nestled in an established residential area within the central-west region. Located close to Tiong Bahru and Redhill MRT stations, they could house 490 and 590 units respectively. The CBD (central business district), Orchard Road and Marina Bay are also within close proximity. <br /><br />The 1.65-ha land parcel at Sengkang West Way will likely yield 535 homes. On top of being close to the Sengkang MRT station and Bus Interchange, it is also easily accessible via the Tampines Expressway. <br /><br />URA noted that the site tender for Pheng Geck Avenue will end on 28 June and the successful tender will be based on the tendered land price only. </p><p>&nbsp;</p><p><strong>Related Stories:</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33058/private-home-sales-highest-since-2009" target="_blank">Private home sales highest since 2009</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33054/property-market-cools-but-worries-remain-khaw" target="_blank">Property market cools, but worries remain: Khaw</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33065/singapore-luxury-home-prices-slip-asia-pac-edges-u" target="_blank">Singapore luxury home prices slip, Asia Pac edges up</a><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33076/real-estate-sentiment-improves-in-q1 propertyguru:news:33076 Wed, 16 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>: </p><p>After dropping for four straight quarters, the REDAS-NUS Real Estate Sentiment Index (composite) for Singapore&rsquo;s real estate market climbed in the first quarter of 2012 to reach 4.6, driven by strong demand of several mass market <a href="http://www.propertyguru.com.sg/new-homes-for-sale" target="_blank">private condo launches</a>. <br /><br />The scale for the index used in the survey ranges between 0 and 10, with a score of less than five indicating falling market conditions while more than five shows an improving market. &nbsp;<br /><br />The Current Sentiment Index climbed to 4.8 in the first quarter from 3.5 in the fourth quarter of last year. For this index, the survey asked respondents to rate Singapore&rsquo;s current property market conditions compared with six months ago.<br /><br />Meanwhile, the Future Sentiment Index, which pertains to respondents&rsquo; rating on property market conditions over the next six months, rose to 4.4 percent in Q1 compared with 3.1 percent in the preceding quarter. <br /><br />Nearly 77 percent of the developers polled said they expect more residential launches, up from 54 percent in the previous quarter. Nearly 76 percent of them also expect the current level of interest to remain for the Government Land Sales (GLS) Programme, more than twice the 36 percent recorded in the previous quarter. <br /><br />On the issue of aggressive bidding in land tenders, nearly 68 percent of respondents agreed that simultaneous site launches could moderate the level of bidding. Several analysts said this is already being practiced by the government. <br /><br />&ldquo;Tenders should close on the same day, rather than launched on the same day with different closing dates, to reduce competition for sites and aggressive bidding,&rdquo; said those surveyed. &nbsp;<br /><br />Overall, respondents were cautiously optimistic about the performance of Singapore&rsquo;s <a href="http://www.propertyguru.com.sg/property-management-news/category/PM" target="_blank">property market</a>, returning better net balances in current and future performance scores compared with the previous quarter.<br /><br />&ldquo;The survey showed a rebound in the overall sentiment but the improvement was not across the board,&rdquo; said Lee Suan Hiang, Chief Executive of REDAS. <br /><br />&ldquo;While the hotel/service apartment sector was a strong performer, the office sector showed weaker sentiment. In the residential sector while the market expressed confidence in the suburban sector, the lack of vitality in the prime residential sector was accentuated with dampened sentiments, protracted over the last three quarters.&rdquo;</p><p>&nbsp;</p><p><strong>Related Stories:&nbsp;</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33070/what-triggered-the-record-high-home-sales-in-april" target="_blank">What triggered the record high home sales in April?</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33067/govt-releasing-5-residential-sites-this-month" target="_blank">Govt releasing 5 residential sites this month</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33058/private-home-sales-highest-since-2009" target="_blank">Private home sales highest since 2009</a><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33058/private-home-sales-highest-since-2009 propertyguru:news:33058 Tue, 15 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>: </p><p><strong>TOP NEWS: </strong>Excluding executive condos (ECs), private home sales in Singapore for the month of April 2012 reached 2,487 units, its highest level since July 2009 when 2,772 new homes were snapped up. <br /><br />But month-on-month, overall private home sales saw a notable decline, falling 12 percent to 2,660 units from a recorded 3,032 in March. The figure is still 40 percent higher compared to the same period last year when 1,918 units were sold. <br /><br />The most popular project was the 244-unit <a href="http://www.propertyguru.com.sg/project/katong-regency-21220" target="_blank">Katong Regency</a> in Paya Lebar, which saw all of its units sold at a median price of S$1,709 psf. <br /><br />The 679-unit Ripple Bay condo also saw strong sales in the month. The developer released 293 units and recorded a take-up of 174 homes that were sold at a median price of S$876 psf. Meanwhile, the 416-unit Hillsta development sold 154 units at a median price of S$1,054 psf. <br /><br />Other notable projects in the month were Palm Isles (153 units sold) and Sky Habitat (131 sold). <br /><br /><br /><br /><strong>Related Stories: </strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33054/property-market-cools-but-worries-remain-khaw" target="_blank">Property market cools, but worries remain: Khaw</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33053/ec-site-in-tampines-awarded-for-s-233-5m" target="_blank">EC site in Tampines awarded for S$233.5m</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33055/dramatic-rise-in-property-exhibition-attendees" target="_blank">Dramatic rise in property exhibition attendees</a><p>&nbsp;</p><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33054/property-market-cools-but-worries-remain-khaw propertyguru:news:33054 Tue, 15 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>: </p><p>Despite the encouraging signs brought about by the government&rsquo;s property cooling measures, concerns still remain with regards to soaring mass market home prices and shoebox units, said Khaw Boon Wan, Minister for National Development. <br /><br />As of Q1 2012, there are 2,500 completed shoebox apartments accounting for 1.2 percent of the 210,000 non-landed units in the <a href="http://www.propertyguru.com.sg/condo-directory" target="_blank">private housing</a> stock. By 2015, the supply is expected to rise to 9,700. <br /><br />Mr Khaw said that many of the new shoebox homes will be located in the heartlands where their appeal among tenants is still untested as 80 percent are located in the central region. <br /><br />As for mass market properties in the OCR (Outside Central Region), prices have continued growing although it&rsquo;s stabilising in the central region. <br /><br />&ldquo;We will continue to monitor these developments closely and will not hesitate to take action, if necessary, to ensure that the housing market remains stable and sustainable,&rdquo; Mr Khaw said.<br /><br />Recent policies, which included five rounds of cooling measures, have helped to eliminate much of the speculative demand and ramped up the supply of private and <a href="http://www.propertyguru.com.sg/singapore-property-listing/hdb" target="_blank">public housing</a>. <br /><br />In fact, private home prices declined marginally in Q1 2012 following nine consecutive quarters of moderate price increases. In addition, the proportion of sub-sales in the market fell sharply to around four percent. <br /><br />The ABSD (additional buyer&rsquo;s stamp duty) also helped dilute foreign buying in the residential market to just seven percent. <br /><br />&ldquo;In the public housing market, most first-timers now have a chance to select a BTO (Build-to-Order) flat if they apply for one. HDB resale prices have also moderated, increasing by 0.6 percent in Q1 2012. This is the smallest price growth in recent years,&rdquo; noted Mr Khaw. <br /><br />He added that starting 18 May, developers will be required to provide more information on scaled unit floor plans as well as a breakdown of the unit floor area. <br /><br />The Housing Developers (Control and Licensing) Act will also be amended to require developers to faithfully represent their actual units in their showflats. Once passed in Parliament, the changes will be implemented within the second quarter of this year. <br /><br /><br /></p><p><strong>Related Stories:</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33053/ec-site-in-tampines-awarded-for-s-233-5m" target="_blank">EC site in Tampines awarded for S$233.5m</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33042/singapore-buyers-invading-london" target="_blank">Singapore buyers 'invading' London</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33050/foreign-developers-flock-to-asia-to-boost-sales" target="_blank">Foreign developers flock to Asia to boost sales</a><br /><br /><p>&nbsp;</p><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33065/singapore-luxury-home-prices-slip-asia-pac-edges-u propertyguru:news:33065 Tue, 15 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>: </p><p>While eight key markets in the Asia Pacific recorded a decent one percent increase in high-end residential prices during the first quarter, Singapore saw a quarter-on-quarter drop in luxury home prices after remaining stable for six consecutive quarters on the back of on-going rental adjustment. <br /><br />According to the latest residential index released by Jones Lang LaSalle (JLL), prices of high-end residential properties in <a href="http://www.propertyguru.com.sg/search?q=kuala+lumpur+&amp;search_select=4&amp;search_btn=Go" target="_blank">Kuala Lumpur</a>, Hong Kong, Jakarta and Bangkok showed increases while Singapore, Shanghai and Beijing saw declines. <br /><br />The index indicated that capital values for Kuala Lumpur grew 6.9 percent in Q1 due to additional stocks, while Hong Kong and Jakarta edged up 1.4 and 4.3 percent respectively.<br /><br />&ldquo;The first quarter increase is a continuation of a trend we have witnessed over the last 18-24 months in the Indonesian residential market, where price increases have been consistently pushed through by developers on the strength of robust demand levels,&rdquo; said Todd Lauchlan, Country Head at JLL Indonesia.<br /><br />Meanwhile, average prices of high-end homes in <a href="http://www.propertyguru.com.sg/singapore-property-listing?listing_type=sale&amp;search_type=district&amp;property_type=N&amp;property_type_code%5B%5D=CONDO&amp;property_type_code%5B%5D=APT&amp;property_type_code%5B%5D=WALK&amp;property_type_code%5B%5D=CLUS&amp;property_type_code%5B%5D=EXCON&amp;school=&amp;mrt=&amp;address=&amp;property_id=&amp;distance=0.5&amp;latitude=&amp;longitude=&amp;interest=&amp;hdb_type_group=&amp;minprice=&amp;maxprice=&amp;minbed=&amp;maxbed=&amp;minsize=&amp;maxsize=&amp;minsize_land=&amp;maxsize_land=&amp;freetext=&amp;minpsf=&amp;maxpsf=&amp;listing_posted=&amp;mintop=&amp;maxtop=&amp;sort=&amp;order=&amp;min_latitude=&amp;max_latitude=&amp;min_longitude=&amp;max_longitude=&amp;submit=" target="_blank">Singapore</a> slipped two percent in the first quarter, mainly attributed to the additional stamp duty (ABSD) imposed on foreign buyers in early December 2011. Capital values for luxury units in Shanghai declined 1.2 percent quarter-on-quarter while Beijing saw prices plunge 2.3 percent, &ldquo;as tightening policies remain in place and sales volumes are down in the China Tier I markets&rdquo;. <br /><br />&ldquo;Prices in China are expected to decline further over the next 12 months, as policy restrictions are likely to remain in place and developers are likely to introduce more price discounts,&rdquo; said Dr Jane Murray, Head of Research for Asia Pacific at JLL.<br /><br />&ldquo;Prices in Hong Kong and Singapore are also expected to decline over 2012, as a result of projected rental correction, generally weaker investor sentiment as well as policy risks.&rdquo;<br /><br />Dr Chua Yang Liang, Head of Research for Singapore and Southeast Asia at JLL, added that while Singapore&rsquo;s luxury home market remains weak due to the ABSD imposed last year, &ldquo;mass market activity remains particularly upbeat in the primary market&rdquo;. <br /><br />&ldquo;This divergence is unlikely to sustain for long as the genuine occupier demand, as measured by the sales activity level in the secondary market, is pale in comparison to the primary.&rdquo;</p><p>&nbsp;</p><p><strong>Related Stories:</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33058/private-home-sales-highest-since-2009" target="_blank">Private home sales highest since 2009</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33054/property-market-cools-but-worries-remain-khaw" target="_blank">Property market cools, but worries remain: Khaw</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33053/ec-site-in-tampines-awarded-for-s-233-5m" target="_blank">EC site in Tampines awarded for S$233.5m</a><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33053/ec-site-in-tampines-awarded-for-s-233-5m propertyguru:news:33053 Tue, 15 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>: </p><p>The Housing and Development Board (HDB) has awarded a <a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33027/tampines-ec-site-draws-s-233-5m-top-bid" target="_blank">residential site</a> (<em>pictured</em>) slated for an executive condominium (EC) development located next to <a href="http://www.propertyguru.com.sg/search/the-tampines-trilliant/property-listings" target="_blank">The Tampines Trilliant</a> to a consortium comprising Singxpress Property Development Pte Ltd, Creative Investments Pte Ltd and Kay Lim Realty Pte Ltd. <br /><br />The developers jointly offered the top bid of S$233.5 million when the tender closed on 10 May 2012. <br /><br />Located at Tampines Central 7/Tampines Avenue 7/Tampines Avenue 9, the 99-year leasehold site drew a total of six bids. With a total area of 20,750.50 sq m, it could generate 850 EC units with a maximum gross floor area (GFA) of 58,101.40 sq m. <br /><br />Creative Investments is a wholly-owned subsidiary of Amara Holdings Ltd.<br /><br />Following the acquisition, the three developers will form a JV (joint venture) company to undertake the site&rsquo;s development, with Creative Investments holding a 40 percent stake, while Singxpress Property Development and Kay Lim Realty will hold 30 percent each. <br /><br />&ldquo;The project will be financed by internal funds from the group, bank borrowings and/or from other sources,&rdquo; said Amara.</p><p>&nbsp;</p><p><strong>Related Stories:&nbsp;</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33042/singapore-buyers-invading-london" target="_blank">Singapore buyers 'invading' London</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33050/foreign-developers-flock-to-asia-to-boost-sales" target="_blank">Foreign developers flock to Asia to boost sales</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33037/chinese-property-developers-target-singapore-buyer" target="_blank">Chinese property developers target Singapore buyers</a><p>&nbsp;</p><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33055/dramatic-rise-in-property-exhibition-attendees propertyguru:news:33055 Tue, 15 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/107901202781486211443/about?hl=en" target="_blank">Andrew Batt</a>:</p><p>There has been a dramatic rise in the number of attendees at international property exhibitions this year as more buyers look beyond their own borders for <a href="http://www.propertyguru.com.sg/overseas-property-for-sale" target="_blank">property investment opportunities</a>.<br /><br />The news comes from property investment firm Knight Knox International, a regular visitor to property exhibitions and events in Singapore, Malaysia, and other parts of the world.<br /><br />Previously ensconced in the minds of the public as a throwback from the 1980&rsquo;s, property exhibitions are proving increasingly popular with both investors and lifestyle buyers alike, as a level of confidence returns to the market that has not been seen since before the economic slowdown.<br /><br />No longer are people forced to spend time in draughty exhibition halls decorated with tired looking bunting. Today&rsquo;s events are glamorous, slick affairs that exude the confidence that the property industry has in its products and reflect the high calibre of the exhibitors and their representatives.<br /><br />Alasdair Macdonald, Senior Marketing and Exhibition Director for Knight Know International, said: &ldquo;Today&rsquo;s buyers are definitely savvier when it comes to investing their money. In particular, the rise in popularity of the Internet means they have already carried out their own research before visiting the event, and are armed with a raft of questions that they expect you to be able to answer immediately.&rdquo;<br /><br />He added: &ldquo;Dealing with customers face-to-face has always been the best-selling tool around, as it allows you to build a rapport and gain a higher level of trust, that doesn&rsquo;t always exist in other forms of communication.&rdquo;<br /><br />Since the property market contracted and economic growth slowed, all property events changed in size, but there has been a recent upturn in the number of larger events that are showing a slow and steady increase in the amount of exhibitors they are attracting.<br /><br />These sentiments are echoed by the organisers of the Property Investor Show (PIS), one of the longest running events in the industry.<br /><br />&ldquo;In 2011, approximately 10,000 buyers and property professionals attended the PIS shows and this year is already proving to be an even bigger success. The PIS is the longest established show in the U.K., which means it is the closest reflection of the market,&rdquo; said Sumit Pal, Sales Manager at Property Investor.<br /><br />Knight Knox International is attending more than 25 major property investment exhibitions and seminars this year, showcasing a range of lifestyle and investment properties from their extensive portfolio of worldwide products.<br /><br />In addition to attending numerous forthcoming specialist events around the world, Knight Knox has already successfully exhibited at the International Property Expo in Russia, Cityscape in Abu Dhabi, A Place in The Sun Live in the U.K., MAPEX in Malaysia, the SMART Property Expo in Singapore (<em>pictured</em>) and the Property Investor Show in the U.K.<br /><br />Andrew Batt, Regional Group Editor for<em> PropertyGuru </em>and a regular attendee at property exhibitions himself, said: &ldquo;I can certainly echo these observations. As buyers and investors look to overseas opportunities in greater numbers, so attendance at these overseas property events is growing.&nbsp; Events in Singapore, Malaysia and the U.K. that I have attended in the last couple of months are certainly proof that overseas property is hotter than ever.&rdquo;<br /><br /><em>PropertyGuru</em> is holding a number of overseas property exhibitions in Singapore in the coming months, including the International Property Showcase which takes place on June 16-17 in Singapore. On the same weekend it&rsquo;s hosting a Malaysia Property Showcase in Hong Kong, building on the success of its recent Malaysia-focused property events in Singapore. Property exhibitions featuring Thailand and Philippines properties are also planned for Singapore in the coming months.<br /><br />For more information visit <em><a href="http://www.propertyguru.com.sg/" target="_blank">www.propertyguru.com.sg</a></em> and register for our daily news email to be kept up-to-date on forthcoming events. <br /><br /></p><p><strong>Related Stories:</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33054/property-market-cools-but-worries-remain-khaw" target="_blank">Property market cools, but worries remain: Khaw</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33053/ec-site-in-tampines-awarded-for-s-233-5m" target="_blank">EC site in Tampines awarded for S$233.5m</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33042/singapore-buyers-invading-london" target="_blank">Singapore buyers 'invading' London</a><br /><br /><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33042/singapore-buyers-invading-london propertyguru:news:33042 Mon, 14 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>:</p><p>Local property hunters are showing more interest in buying properties in <a href="http://www.propertyguru.com.sg/search?q=central+london&amp;search_select=4&amp;search_btn=Go" target="_blank">central London</a>, with analysts pointing to rising rents and good capital values as contributing factors. &nbsp;<br /><br />A <em>Straits Times</em> report highlighted that Singaporeans accounted for over 3.5 percent of recent deals in London&rsquo;s residential market. Several industry watchers said this figure could grow as more London projects are set to be launched in Singapore over the next few weeks. <br /><br />Charles Leigh, CBRE&rsquo;s Senior Director of central London residential development, said there is a growing number of <a href="http://www.propertyguru.com.sg/overseas-property-for-sale" target="_blank">property investors</a> in the region looking to invest in central London. <br /><br />&ldquo;Southeast Asian buyers account for just over 10 percent of the entire central London market, and that figure is almost 15 percent if you include mainland China,&rdquo; he said. &ldquo;The figure for new developments is substantially higher still, and just over 30 percent.&rdquo;<br /><br />He said that based on recent data, Singaporean buyers account for between 35 and 40 percent of all transactions from Southeast Asia.<br /><br />Gavin Sung, Head of Residential Development Lettings Investment at Savills London, said Singaporeans and Hong Kongers accounted for the largest volume of investors in the London property market last year.<br /><br />&ldquo;A Singaporean investor can purchase a property with 30 percent cheaper values between height of peak and now due to the weakness of the pound,&rdquo; he said. &ldquo;This, in addition to all of the other pull factors of London, has significantly highlighted interest in increasing amounts from Singaporeans.&rdquo;<br /><br />For instance, a Singaporean buyer who wanted to be known as Mrs Yong acquired a one-bedroom unit at Baltimore Wharf in Canary Wharf in February when the project was launched in the country. <br /><br />She is now renting out the property and estimates that the rental yield could be between four and five percent, adding that she acquired the property because her son is studying in London.&nbsp; &nbsp;<br /><br />&ldquo;Eventually, if he wants to stay there, he can,&rdquo; she added. &ldquo;I think it's quite safe to invest there because it's very transparent, and there are not a lot of restrictions. And of course, the pound is cheap.&rdquo;</p><p>&nbsp;</p><p><strong>Related Stories:&nbsp;</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33037/chinese-property-developers-target-singapore-buyer" target="_blank">Chinese property developers target Singapore buyers</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33039/ura-reserve-list-site-at-farrer-drive-to-launch-fo" target="_blank">URA reserve list site at Farrer Drive to launch for tender</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33027/tampines-ec-site-draws-s-233-5m-top-bid" target="_blank">Tampines EC site draws S$233.5m top bid</a><br /><br /><p>&nbsp;</p><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33050/foreign-developers-flock-to-asia-to-boost-sales propertyguru:news:33050 Mon, 14 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>:</p><p>Overseas property developers are showing more interest in Asia, especially Singapore, in a move to boost their sales on the back of weak demand in their local markets. <br /><br />According to <em>The Straits Times</em>, foreign developers are looking to attract wealthy Asian investors who are unhappy with low bank interest rates and want to invest in other parts of the world. <br /><br />While the US and European economies have stagnated, Asia continues to see growth with the inflow of foreign funds seeking better returns. For instance, European investors have been looking to Asia to diversify their investments due to the Eurozone debt crisis. <br /><br />A growing number of overseas developers are using their funds to market projects at roadshows in Malaysia, Hong Kong and Singapore, among other Asian countries.<br /><br />In fact, <a href="http://www.propertyguru.com.sg/search?q=london&amp;search_select=4&amp;search_btn=Go" target="_blank">London properties</a> are being launched in Asia first, which implies that Asian buyers have cash to spend, said Darien Bradshaw, CBRE&rsquo;s Executive Director of International Project Marketing for Asia. &nbsp;<br /><br />Currently, CBRE is marketing Fitzroy Place in London's West End. Singapore accounts for 40 percent of the investment demand; Hong Kong is at 30 percent while the rest comes from London.<br /><br />Apart from London, Kuala Lumpur and <a href="http://www.propertyguru.com.sg/search?q=melbourne&amp;search_select=4" target="_blank">Melbourne</a>, which are popular investment alternatives, more investors are also considering less common cities like Houston, USA and Chengdu in China. <br /><br />Over the past weekend, marketing agency Roof Real Estate Group held a property exhibition featuring Houston while Centaline Property Agency held a similar exhibition on Chengdu to take advantage of the growth potential of the yuan in the next few years along with the strong Chinese economy. </p><p>&nbsp;</p><p><strong>Related Stories:</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33042/singapore-buyers-invading-london" target="_blank">Singapore buyers 'invading' London</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33039/ura-reserve-list-site-at-farrer-drive-to-launch-fo" target="_blank">URA reserve list site at Farrer Drive to launch for tender</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33037/chinese-property-developers-target-singapore-buyer" target="_blank">Chinese property developers target Singapore buyers</a><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33037/chinese-property-developers-target-singapore-buyer propertyguru:news:33037 Mon, 14 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/107901202781486211443/about?hl=en" target="_blank">Andrew Batt</a>: </p><p><strong>EXCLUSIVE:</strong> More Chinese property developers will be targeting Singaporean <a href="http://www.propertyguru.com.sg/new-homes-for-sale" target="_blank">property buyers</a> and investors in the coming months, heralding the start of a new wave of property investment opportunities within Asia for local buyers.<br /><br />The second property exhibition featuring <a href="http://www.commercialguru.com.sg/" target="_blank">commercial property</a> investments in the Chinese city of Chengdu took place last weekend and attracted a good degree of interest from Singaporeans looking at overseas property investments. Until now, Chinese property investment exhibitions have been a rare sight in Singapore, outnumbered by events featuring destinations such as Malaysia, Australia, Thailand, the UK and the US.<br /><br />Janice Low, Regional Sales Director of the Centaline (Singapore) Property Agency Pte. Ltd, told <em>PropertyGuru</em>: &ldquo;There is a lot of pent-up demand from Chinese developers who are looking to market their developments in Singapore.&rdquo; She added that her company has already lined up developers from China, Hong Kong, Macau and Taiwan for property road shows in Singapore.<br /><br />Low said that Singaporeans, as well as Indian and Indonesian permanent residents (PRs), are looking at places like Chengdu because the prices of property there have yet to reach their peak. &ldquo;Buyers from Singapore know established destinations but they also like to look at newer places,&rdquo; she added.<br /><br />Centaline was marketing a Chengdu serviced apartment investment opportunity in what it described as China&rsquo;s most prolific and dynamic investment city, which benefits from direct flights from Singapore.<br /><br />Low stated that the vast majority of buyers who made a booking at a previous Chengdu event went ahead with their purchase after embarking on a tour of the city. Investment levels at the Neptune Center, in which Centaline has already sold more than 90 units throughout Asia, start from S$180,000.</p><p>&nbsp;</p><p><strong>Related Stories:</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33027/tampines-ec-site-draws-s-233-5m-top-bid" target="_blank">Tampines EC site draws S$233.5m top bid</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33023/overseas-property-buyers-are-spoilt-for-choice" target="_blank">Overseas property buyers are spoilt for choice</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33012/shoebox-homes-get-space-saving-features" target="_blank">Shoebox homes get space-saving features</a><br /><br /><p>&nbsp;</p><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33039/ura-reserve-list-site-at-farrer-drive-to-launch-fo propertyguru:news:33039 Mon, 14 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">Romesh Navaratnarajah</a>:</p><p>A <a href="http://www.propertyguru.com.sg/" target="_blank">residential</a> site at Farrer Drive (<em>pictured</em>) will be put up for sale in about two weeks under the reserve list, following a developer&rsquo;s request to bid a minimum of S$88.89 million for the plot, according to the Urban Redevelopment Authority (URA). <br /><br />With an area of around 0.63-ha, the 99-year leasehold site has a maximum permissible GFA (gross floor area) of 10,030 sq m. <br /><br />Located within an established private residential enclave in the central region, it is easily accessible via major arterial roads and expressways including Farrer Road, <a href="http://www.propertyguru.com.sg/search/holland-road/condo-directory" target="_blank">Holland Road</a>, the Pan-Island Expressway (PIE) and Ayer Rajah Expressway (AYE). <br /><br />According to Nicholas Mak, Head of Research at SLP International Property Consultancy, the site will likely attract four to nine bids that could range between S$89 million and S$94 million.<br /><br />He added that the winning developer will likely raise a high bid and build small homes to make the most of the sale. <br /><br />&ldquo;The usual strategy used by most developers to trigger reserve list sites for tender is to submit a low application bid that would be accepted by the Government... In this case, the party (probably hopes) that it would discourage other developers from participating.&rdquo;</p><p>&nbsp;</p><p><strong>Related Stories:</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33037/chinese-property-developers-target-singapore-buyer" target="_blank">Chinese property developers target Singapore buyers</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33027/tampines-ec-site-draws-s-233-5m-top-bid" target="_blank">Tampines EC site draws S$233.5m top bid</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33023/overseas-property-buyers-are-spoilt-for-choice" target="_blank">Overseas property buyers are spoilt for choice</a><br /><br /><p>&nbsp;</p><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33027/tampines-ec-site-draws-s-233-5m-top-bid propertyguru:news:33027 Fri, 11 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p><a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">By Romesh Navaratnarajah</a>: </p><p>An executive condominium (EC) site (<em>pictured</em>) near <a href="http://www.propertyguru.com.sg/new-homes-listing/the-tampines-trilliant-3437" target="_blank">The Tampines Trilliant</a> has received a top bid of S$233.5 million, which works out to around S$373.40 psf ppr. The joint bid was put up by Singxpress Property Development, Amara Holdings' Creative Investments and Kay Lim Realty.<br /><br />At 20,750.50 sq m, the site is expected to house 580 residential units. It has a maximum gross floor area of 58,101.40 sq m and a gross plot ratio of 2.8. The 99-year leasehold site had received a total of six bids since the tender opened on 15 March. <br /><br />Maxdin Pte Ltd &amp; BPK Development Pte Ltd as well as United Infrastructure Pte Ltd and LMG Realty Pte Ltd jointly offered the second highest bid at S$230.7 million, followed by Sim Lian Land Pte Ltd&rsquo;s S$222.28 million. <br /><br />&ldquo;The bullish bids were likely spurred by several locational attributes. For instance, the site is in close proximity to established educational institutions including Temasek Polytechnic, United World College of South East Asia and ITE College East,&rdquo; commented Chia Siew Chuin, Director of Research and Advisory at Colliers International.<br /><br />&ldquo;It is also within 10 to 15 minutes' walking distance from the <a href="http://www.propertyguru.com.sg/singapore-property-listing/hdb/tampines" target="_blank">Tampines Regional Centre</a>.&rdquo;<br /><br />Nicholas Mak, Head of Research at SLP International Property Consultants, said the tender result &ldquo;indicates that the developers share the same opinion that this is an attractive site which the development can be launched at above S$750 psf&rdquo;. <br /><br />The Housing and Development Board (HDB) said it will announce the successful tender after all the bids have been evaluated.</p><p>&nbsp;</p><p><strong>Related Stories:&nbsp;</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33023/overseas-property-buyers-are-spoilt-for-choice" target="_blank">Overseas property buyers are spoilt for choice</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33012/shoebox-homes-get-space-saving-features" target="_blank">Shoebox homes get space-saving features</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32997/high-end-market-on-a-downward-spiral-" target="_parent">High-end market on a downward spiral?</a><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33023/overseas-property-buyers-are-spoilt-for-choice propertyguru:news:33023 Fri, 11 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>By <a href="https://plus.google.com/107901202781486211443/about?hl=en" target="_blank">Andrew Batt</a>:</p><p>There&rsquo;s absolutely no doubt that Singaporeans&rsquo; love affair with <a href="http://www.propertyguru.com.sg/overseas-property-for-sale" target="_blank">overseas property</a> is continuing unabated.<br /><br />This weekend alone there are 10 property exhibitions in the city, tempting buyers and investors to part with their money for a diverse range of property investment opportunities from Malaysia, China, Australia, the United Kingdom and the United States.<br /><br />Fitzroy Place in the heart of west London is being showcased by Savills and CBRE at the Four Seasons Hotel (May 12-13, 11am &ndash; 7pm). Homes at what is described by the developers as the most significant development in London for over 50 years is priced from between GBP865,000 (S$1.74 million) to GBP8.25 million (S$16.6 million).<br /><br />Chelsea Creek, described as London&rsquo;s prime waterfront address, gets its worldwide launch in Singapore at St Regis Hotel (May 12-13, 11am-7pm). Marketed by Knight Frank, luxury units at the development in SW6 are priced from GBP499,950 (S$1 million) to GBP2.5 million (S$5.05 million).<br /><br />Also in London, No.1 The Plaza in Bromley-By-Bow is being marketed by Colliers International at The Ritz-Carlton Hotel (May 12-13, 11am &ndash; 7pm). The 27-storey development in the east of the city is offering suites from GBP198,000 (S$399,620) rising to 3-bedroom apartments from GBP340,000 (S$686,215).<br /><br />Also in the east of London and close to Bromley-By-Bow is The Panoramic, which is being marketed by Jones Lang LaSalle at the Hilton Hotel (May 12-13, 11am &ndash; 7pm). Units at the 20-storey landmark building start from GBP199,950 (S$401,000) for a one-bedroom unit. <br />&nbsp;<br />Studio 9 in the Richmond area of <a href="http://www.propertyguru.com.sg/search?q=melbourne+&amp;search_select=4&amp;search_btn=Go" target="_blank">Melbourne, Australia</a>, is being launched at the Regent Hotel in Singapore this weekend by Jalin Realty (May 12-13, 10am &ndash; 7pm). A range of properties, from one-bedroom apartments to terraced homes, is being offered. Education forms a key part of this development&rsquo;s marketing as it&rsquo;s located close to the University of Melbourne and high profile schools.<br /><br />Also in Melbourne, Joulia Apartments is being showcased by Worldwide Property Solutions at the Pan Pacific Orchard (May 12-13, 10am &ndash; 6pm). The development is located less than 5km from the city&rsquo;s central business district and offers units from A$450,000 (S$567,680).<br /><br />For property investments closer to home, Setia V Residences in Penang, Malaysia, is being showcased at the SP Setia Singapore Sales Gallery at Harbourfront Tower One (May 12-13, 10am &ndash; 6pm). The luxury residences in two towers offer views of either the Indian Ocean or city skyline.<br /><br />Also in Penang is The Rice Miller Residences which is being marketed by Trillion Property at Raffles City Convention Centre (May 12-13, 10am &ndash; 6pm). The luxurious waterfront living development in a UNESCO World Heritage site is offering a range of properties from studios to three-bedroom apartments.<br /><br />One of the first Chinese property exhibitions, featuring properties and serviced apartments in Chengdu&rsquo;s central business district is being organised by Centaline Property at Raffles City Convention Centre (May 12-13, 10am &ndash; 7pm). Investors have the chance to buy serviced apartments with prices starting at S$180,000.<br /><br />For something more exotic on the other side of the world, properties in Houston, USA, are being exhibited at the Shangri-La (May 12-13, 11am-7pm). Property investments in the fourth largest city are being offered from US$34,996 (S$44,000).<br /><br /><br /><br /><strong>Related Stories:</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/33012/shoebox-homes-get-space-saving-features" target="_blank">Shoebox homes get space-saving features</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32997/high-end-market-on-a-downward-spiral-" target="_blank">High-end market on a downward spiral?</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32985/strong-week-for-private-home-sales" target="_blank">Strong week for private home sales</a><p>&nbsp;</p><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/33012/shoebox-homes-get-space-saving-features propertyguru:news:33012 Thu, 10 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p><a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">By Romesh Navaratnarajah:</a></p><p>Shoebox units, which are no more than 500 sq ft in size, are gaining in popularity with home buyers, given their lower prices. In fact the URA (Urban Redevelopment Authority) has forecast supply of small units to grow to 8,200 by end-2015 from just 2,400 presently.&nbsp; <br /><br />As such, property developers are integrating space-saving features into their <a href="http://www.propertyguru.com.sg/new-homes-for-sale" target="_blank">new projects</a> to further maximise living and storage space.&nbsp; <br /><br />For instance, City Developments Limited (CDL) is incorporating a unique storage space design at <a href="http://www.propertyguru.com.sg/project/the-palette-20854" target="_blank">The Palette</a> (<em>pictured</em>), its condo development in Pasir Ris. One-bedder apartments at the project range in sizes from 495 sq ft to 700 sq ft. <br /><br />CDL is &ldquo;always looking into exploring new ideas where space saving is key,&rdquo; said Project Manager Allen Ang. <br /><br />One innovation that stands out is a customised hinge system that prevents storage covers from slamming. While it&rsquo;s still patent-pending, the new feature has been a hit with customers. <br /><br />Meanwhile, Far East Organization has introduced enhancements into its newly launched Hillsta project, which offers a mix of condo, Soho and townhouse units. <br /><br />Located in Choa Chu Kang, a one-bedroom Soho unit ranges from around 540 sq ft to 600 sq ft in size and features a 3.4 metre floor to ceiling height. Home buyers may opt to include a platform to accommodate a bed. </p><p>&nbsp;</p><p><strong>Related Stories:</strong></p><p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32997/high-end-market-on-a-downward-spiral-" target="_blank">High-end market on a downward spiral?</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32985/strong-week-for-private-home-sales" target="_blank">Strong week for private home sales</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32990/woodlands-ec-site-awarded-to-china-based-developer" target="_blank">Woodlands EC site awarded to China-based developer</a></p><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/32997/high-end-market-on-a-downward-spiral- propertyguru:news:32997 Wed, 09 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p>by <a href="https://plus.google.com/106062641248922895123/posts" target="_blank">Cheryl Tay</a></p><p>Sluggish demand for high-end homes has lowered developers&rsquo; profits of late. If this trend continues, the luxury market could eventually hit rock-bottom in the days to come.</p><p>With prices of luxury homes expected to fall by 15 percent this year, foreign demand is expected to dry up due to tightening measures and economic uncertainties.</p><p>Early on, property developers are feeling the pinch over this weakening outlook.</p><p>Recently, SC Global warned of a S$10 million loss for Q1 2012, following weak profits recorded from its ready-for-occupancy projects. In fact, not even half the units released at <a href="http://www.propertyguru.com.sg/project/the-marq-on-paterson-hill-994" target="_blank">The Marq</a>&nbsp;(<em>pictured</em>) on Paterson Hill and Hilltops were sold.</p><p>Ho Bee&rsquo;s official figures revealed a shocking 71.6 percent plunge in Q1 2012 earnings to S$15.4 million. Its luxury projects, <a href="http://www.propertyguru.com.sg/project/turquoise-1139" target="_blank">Turquoise</a> and Seascape at Sentosa Cove, have recorded sales at 46 and 28 percent respectively.</p><p>The weakening interest in the high-end market may be attributed to the implementation of a 10 percent Additional Buyers&rsquo; Stamp Duty (ABSD) in December last year, which deterred foreign buyers.</p><p>Foreign buyers contribute significantly to the market, accounting for 40 percent of property transactions last year in prime district 10, which covers the Tanglin and Ardmore areas. Driving foreign buyers from the market will affect locals who have sold their homes to foreigners, as they cannot recycle their capital easily.</p><p>Savills Research has predicted that foreign buyers will account for a mere 15 percent of luxury homes sales this year. The ABSD immediately reduces return on investments (ROI) because these fees have to be paid upfront.</p><p>Singapore is considered the most expensive market for high-end properties in Asia, with buyers from China, Indonesia, Malaysia and India significantly contributing to the luxury home market.</p><p>However, a number of foreign buyers have put off their plans to buy multi-million dollar properties to avoid the ABSD. At the same time, the luxury market will likely see a surge in the supply of new units, putting further pressure on prices. </p><p>Even rentals are coming down as a number of expats no longer receive their usual housing allowances.</p><p>Moving forward, the luxury segment will likely suffer as the price gap between the mid-tier and luxury segment narrows.</p><p><br /><strong>Related Stories:</strong></p><p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32985/strong-week-for-private-home-sales" target="_blank">Strong week for private home sales</a></p><p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32990/woodlands-ec-site-awarded-to-china-based-developer" target="_blank">Woodlands EC site awarded to China-based developer</a></p><p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32986/fancy-a-free-condo-stay-in-kovan-" target="_blank">Fancy a free condo stay in Kovan?</a></p> http://www.propertyguru.com.sg/property-management-news/2012/5/32985/strong-week-for-private-home-sales propertyguru:news:32985 Tue, 08 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p><a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">By Romesh Navaratnarajah:</a></p><p>Approximately 325 new private homes were sold over the past week, amid <a href="http://www.propertyguru.com.sg/new-homes-for-sale" target="_blank">property launches</a> and rock bottom interest rates. <br /><br />67 units were sold at Far East Organization&rsquo;s 338-unit SeaHill in West Coast Link, taking total sales to 185 units since it was launched last month. Homes at the 99-year leasehold project were sold for an average of S$1,329 psf.<br /><br />Far East also saw 34 more units taken up at the <a href="http://www.propertyguru.com.sg/new-homes-listing/hillsta-4068" target="_blank">Hillsta</a> in Choa Chu Kang, Silversea along East Coast and euHabitat (<em>pictured</em>) in Eunos.<br /><br />Meanwhile, MCL Land sold 27 homes at the 679-unit Ripple Bay in Pasir Ris, bringing total sales to 532 units at an average price of S$870 psf.<br /><br />At the same time, over 200 units at Eight Riversuites in Whampoa East were sold at a private preview over the weekend. The 99-year leasehold project has an average selling price of S$1,400 psf, inclusive of the five percent early-bird discount. <br /><br />The strong results mean that private home sales in Q1 have set a new quarterly record, with 6,682 homes sold. A big number of units sold were smaller units or shoebox apartments measuring 500 sq ft or less. <br /><br />Mohamed Ismail, Chief Executive Officer of PropNex Realty, believes the sustained sales momentum reflects a strong appetite for new and reasonably priced projects located in strategic areas. In addition, he anticipates sustained healthy demand in the next one to two quarters. <br /><br /><br /><strong><br /></strong></p><p><strong>Related Stories:</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32965/shoebox-units-pushing-down-the-value-of-non-landed" target="_blank">Shoebox units pushing down the value of non-landed homes</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32963/woodlands-ec-site-attracts-top-bid-of-s-247m" target="_blank">Woodlands EC site attracts top bid of S$247m</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32953/sentosa-cove-bungalow-asks-a-whopping-s-108m" target="_blank">Sentosa Cove bungalow asks a whopping S$108m</a><br /><br /><p>&nbsp;</p><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/32990/woodlands-ec-site-awarded-to-china-based-developer propertyguru:news:32990 Tue, 08 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p><a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">By Romesh Navaratnarajah:</a></p><p>The Housing and Development Board (HDB) has awarded a <a href="http://www.propertyguru.com.sg/new-homes-for-sale" target="_blank">residential</a> site (<em>pictured</em>) at the junction of Woodlands Avenue 5 and Woodlands Drive 16 to Hao Yuan Investment Pte Ltd. <br /><br />The Chinese firm offered the top bid of S$247 million, while the second highest offer came from MCL Land at S$238.7 million. <br /><br />Slated for <a href="http://www.propertyguru.com.sg/search/executive-housing/property-listings" target="_blank">executive condominium (EC) housing</a>, the site was launched on 15 March and drew a total of five bids when the tender closed last Thursday. <br /><br />Chia Siew Chuin, Director of Research &amp; Advisory at Colliers International, noted that &ldquo;even though this site did not attract that many bids, the top two bids still reflect optimism from developers&rdquo;. <br /><br />With a total area of 25,800 sq m, it could house around 720 units with a maximum gross floor area (GFA) of 72,240 sq m. <br /><br /><br /></p><p><strong>Related Stories:</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32985/strong-week-for-private-home-sales" target="_blank">Strong week for private home sales</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32986/fancy-a-free-condo-stay-in-kovan-" target="_blank">Fancy a free condo stay in Kovan?</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32965/shoebox-units-pushing-down-the-value-of-non-landed" target="_blank">Shoebox units pushing down the value of non-landed homes</a><p>&nbsp;</p><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/32986/fancy-a-free-condo-stay-in-kovan- propertyguru:news:32986 Tue, 08 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p><a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">By Romesh Navaratnarajah:</a></p><p>Koh Brothers Development, a wholly-owned subsidiary of Koh Brothers Group Limited, is the first developer to launch a brand new lifestyle idea called &lsquo;Concept Home&rsquo; at its <a href="http://www.propertyguru.com.sg/project/fiorenza-1498" target="_blank">Fiorenza project</a> (<em>pictured</em>) in Kovan, which will be enjoyed by one lucky family for six months at no cost. <br /><br />The two-bedder Concept Home will redefine urban living and maximise comfort, with innovative features such as an Italian imported electric-operated coffee cum dining table, SONOS advanced multi-room surround sound system, high-end &lsquo;Cabrio In&rsquo; range of designer study/work furniture, 3D contemporary wall decoration and motorised sun screen technology.<br /><br />&ldquo;We are pleased to be the first developer to create a Concept Home that brings together innovative Big ideas for Smaller spaces,&rdquo; said Francis Koh, Managing Director and Group CEO of Koh Brothers Group.<br /><br />&ldquo;Our aim is to provide signature lifestyle to potential buyers of our future developments, one that offers maximum comfort in modern compact living spaces. We see this as the trend going forward, and we want to be the one taking the lead in defining the standard.&rdquo;<br /><br />In exchange for the free stay, the winning household will provide feedback to Koh Brothers in a bid to further enhance the developer&rsquo;s <a href="http://www.propertyguru.com.sg/new-homes-for-sale" target="_blank">lifestyle offerings</a>. <br /><br />&ldquo;We are interested in the feedback and this move is part of our commitment to bring living lifestyles to greater heights in our developments to come. Every project is unique and we take pride in going beyond the limit to provide homeowners the added touch,&rdquo; added Koh.<br /><br /></p><p><strong>Related Stories:</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32985/strong-week-for-private-home-sales" target="_blank">Strong week for private home sales</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32965/shoebox-units-pushing-down-the-value-of-non-landed" target="_blank">Shoebox units pushing down the value of non-landed homes</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32963/woodlands-ec-site-attracts-top-bid-of-s-247m" target="_blank">Woodlands EC site attracts top bid of S$247m</a><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/32965/shoebox-units-pushing-down-the-value-of-non-landed propertyguru:news:32965 Fri, 04 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p><a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">By Romesh Navaratnarajah:</a></p><p>The popularity of small apartments pushed down the total value of non-landed homes by 22 percent last year compared to 2010, according to the latest report by CBRE. <br /><br />A total of 13,611 caveats were lodged for <a href="http://www.propertyguru.com.sg/new-homes-for-sale" target="_blank">new non-landed homes</a> in 2011 amounting to S$16.568 billion, significantly lower than the S$21.173 billion collected from 13,933 caveats a year before. <br /><br />The sharp decline is attributed to the robust sales of shoebox units, which are not only located within the city fringes but also in suburban condo projects located on government land sites. <br /><br />Based on caveats analysis, the median size of new units fell to 721 sq ft in Q1 2012 from 1,249 sq ft in Q3 2009. Moreover, the median quantum of new apartments dropped below the S$1 millionth-mark since Q1 2011 and median quantum of new apartments shrunk to S$797,000 per unit from S$1.06 million in Q3 2009.<br /><br />&ldquo;While it is true that there is resistance at this level, particularly for <a href="http://www.propertyguru.com.sg/condo-directory" target="_blank">suburban condominiums</a>, the declining median price does not imply a fall in home buyers&rsquo; affordability,&rdquo; noted CBRE.<br /><br />It added that government statistics indicate a rise in average monthly income for resident employed households from S$6,342 in 2010 to S$7,037 in 2011. <br /><br />&ldquo;It just means that the property measures are working because home buyers are lowering their risk by investing smaller sums. The industry has come to realise that the playing field has changed and is still changing,&rdquo; said Li Hiaw Ho, Executive Director at CBRE Research.<br /><br />He noted that by offering cheaper units below S$1 million, &ldquo;developers have now been able to attract not only families but also single professionals, empty-nesters and retirees into the market&rdquo;. </p><p>Most recently, National Development Minister Khaw Boon Wan said that units built by private developers are becoming smaller and cited the sudden increase and popularity of shoebox units.<br /><br />He noted that the government &ldquo;may have to step in&rdquo; if the number of such units coming into the market gets too high.&nbsp; </p><p>&nbsp;</p><p><strong>Related Stories:&nbsp; </strong></p><p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32963/woodlands-ec-site-attracts-top-bid-of-s-247m" target="_blank">Woodlands EC site attracts top bid of S$247m</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32953/sentosa-cove-bungalow-asks-a-whopping-s-108m" target="_blank">Sentosa Cove bungalow asks a whopping S$108m</a><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32957/outlook-for-luxury-market-worsens-on-weakening-sal" target="_blank"><br />Outlook for luxury market worsens on weakening sales</a></p><p>&nbsp;</p><p>&nbsp;</p> http://www.propertyguru.com.sg/property-management-news/2012/5/32963/woodlands-ec-site-attracts-top-bid-of-s-247m propertyguru:news:32963 Fri, 04 May 2012 00:00:00 +0800 PropertyGuru.com.sg : <p><a href="https://plus.google.com/100211889324198007685/about?hl=en" target="_blank">By Romesh Navaratnarajah:</a></p><p>The tender for a 99-year leasehold site (<em>pictured</em>) released by the Housing and Development Board (HDB) at the junction of Woodlands Avenue 5 and Woodlands Drive 16 has attracted a total of five bids, with China-based firm Hao Yuan Investment Ltd offering the top bid of S$247 million. <br /><br />&ldquo;This reflects a land price of S$317.65 psf ppr and is 3.5 percent above the second bid,&rdquo; said Chia Siew Chuin, Director of Research &amp; Advisory at Colliers International.<br /><br />The second highest bid came from MCL Land at S$238.7 million followed by EL Development (S$228.3 million) and White Haven Properties (S$222.5 million), while a joint offer between FCL Place and Maxdin offered the lowest bid at S$186.8 million. <br /><br />&ldquo;Even though this site did not attract that many bids, the top bids still reflect optimism from developers,&rdquo; said Chia. <br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/3/32577/ura-hdb-launch-4-residential-sites" target="_blank">Launched for sale on 15 March 2012</a>, the site has a total area of 25,800 sq m with a maximum gross floor area (GFA) of 72,240 sq m and a gross plot ratio of 2.8. It is zoned for executive condominium (EC) development and could generate up to 720 housing units.<br /><br />&ldquo;The subject site is located in the heart of <a href="http://www.propertyguru.com.sg/singapore-property-listing/hdb/woodlands" target="_blank">Woodlands new town</a>,&rdquo; said Li Hiaw Ho, Executive Director at CBRE Research. &ldquo;It is a short drive from Woodlands MRT station and Causeway Point shopping mall. Its immediate neighbour is La Casa executive condominium, which was completed in 2008 and will be partially privatised when it turns five years old.&rdquo;<br /><br />The highest bid reflects a breakeven cost of S$630 psf to S$650 psf, noted Li, adding that &ldquo;the new project will be priced around S$700 psf&rdquo;. <br /><br />HDB said a decision on the tender award will be made after all the bids have been evaluated.&nbsp; </p><p>&nbsp;</p><p><strong>Related Stories:</strong></p><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32953/sentosa-cove-bungalow-asks-a-whopping-s-108m" target="_blank">Sentosa Cove bungalow asks a whopping S$108m</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32957/outlook-for-luxury-market-worsens-on-weakening-sal" target="_blank">Outlook for luxury market worsens on weakening sales</a><br /><br /><a href="http://www.propertyguru.com.sg/property-management-news/2012/5/32945/more-measures-will-harm-property-market-orangetee" target="_blank">More measures will harm property market: OrangeTee</a><p>&nbsp;</p><p>&nbsp;</p>