singapore property weekly issue 117

7/27/2019 Singapore Property Weekly Issue 117

1/13

Issue 117Copyright 2011-2013 www.Propwise.sg. All Rights Reserved.
http://www.propwise.sg/http://www.propwise.sg/


2/13

ContributeDo you have articles and insights and articles that youd like to share

with thousands of readers interested in the Singapore property

market? Send them to us at [email protected] , and if theyre good

enough, well publish them here, on our blog and even on Yahoo!

News.

AdvertiseWant to get your brand, product, service or property listing out to

thousands of Singapore property investors at a very reasonable

cost? Head over to www.propwise.sg/advertise/ to find out more.

CONTENTS

p2 Asking the What, Why and How

of Properties

p7 Singapore Property News This Week

p11 Resale Property Transactions (July 31 August 6)

Welcome to the 117th edition of the

Singapore Property Weekly.

Hope you like it!

Mr. Propwise

FROM THE

EDITOR
mailto:[email protected]://www.propwise.sg/advertise/http://www.propwise.sg/advertise/mailto:[email protected]


3/13

SINGAPORE PROPERTY WEEKLY Issue 117

Page | 2Back to Contents

By Property Soul (guest contributor)

Time flies. My little girl recently turned two.

Happy birthday sweetheart! With a limited

vocabulary, her favorite words are what,

why and how. And she enjoys dragging the

vowels to show her emotions. Here is atypical example:

"See what we have in the fridge."

"Whaaat?"

"Fresh milk or orange juice?"

She opens the freezer and points at the ice-

cream.

"No, you can't have this for breakfast."

Asking the What Why and How of Properties


4/13



"Whyyy?"

"Because you'll have a stomach upset."

"Hooow?"

"Er ..."

"No no," she shakes her head and walks

away.

A toddler asks what, why and how all the

time. But as we grow older, we gradually lose

our natural curiosity to question the things

around us.

Perhaps we are too lazy and don't bother to

know what is happening. Maybe it is too tiring

to find an explanation to everything. Or we

have tried but still have no answer to ourquestion.

Likewise, when people are buying or

investing in properties, many don't bother to

ask questions. Some have asked, but they

haven't asked the right questions.

Asking the 'what' questions

This involves finding and comparing all theoffers and options in the market:

- What is available in the uncompleted and

resale market?

- What is the price difference for new and old

flats in the same district?

- What prices were people paying at the top

and bottom of the previous property cycles?

- What are local sellers offering compared

with what property seminars are marketing in

the same overseas market?

Asking the 'why' questions

Understand the reasons why things happen

the way they are.


5/13



This includes asking questions such as:

- Why is there no choice but to buy at the

current market?

- Why are developers able to sell newprojects at future prices?

- Why the government has to constantly

announce new cooling measures?

- Why the current market is now made up of

first-time buyers and upgraders buying newprojects?

Asking the 'how' questions

This involves validating information you have

received to find out the truth, including

answering questions such as:

- How to generate a decent rental return

buying at the current market?

- How to maintain a positive cashflow when

market conditions change?

- How to look for good tenants for projects in

this area?

- How to find future buyers to offloadproperties bought in an overseas market?

Having the courage to say 'No'

If you have asked yourself the right questions,

and have done your homework to find some

answers, you should be able to form yourown opinion.

Never go with the crowd blindly and make a

property decision based on the comments of

the people around you. Don't fall into the trap

of buying a place using the criteria of industry

analysts, property developers or marketing

agents.

Remember that this is your home and you are

the one paying for it.


6/13



As soon as you are not being unrealistic, you

should make decisions using your own set of

criteria. If your priorities are not met, you don't

have to buy.

Whether the property you bought is good or

bad, it is not your fate, it is your choice. You

should have the choice to say 'No', the

courage to walk away and stand by what you

believe in.

Dietrich Bonhoeffer, a German anti-Nazi

theologian, once said:

"It is the nature, and the advantage, of strong

people that they can bring out the crucial

questions and form a clear opinion about

them. The weak always have to decidebetween alternatives that are not their own."

As I am writing this, my two-year-old is

standing behind me, getting into a tub of ice-

cream with a spoon she finds somewhere.

"What are you eating?" I ask.

"Whaaat?"

"Mommy says no ice-cream for breakfast."

"Whyyy?"

"So you're not listening to Mommy?"

"Hooow?"

I try to grab the ice-cream from her but in

vain.

"No no," she smiles mischievously and walks

away.

By Property Soul, a successful property

investor and enthusiast who shares her

experiences and knowledge on her blog.
http://propertysoul.com/http://propertysoul.com/http://propertysoul.com/http://propertysoul.com/


7/13



SINGAPORE PROPERTY WEEKLY I 117
http://www.propwise.sg/adv-good-news-its-a-buyers-market-now/


8/13


Singapore Property This Week


Residential

Property m arket set for 2016 incid ent due

to abundant supply

It is reported that the sellers stamp duty

(SSD) should be relooked to prevent a

collision with a record number of private

homes released to the market in 2016.

According to Orange Tees data, a total of

33,555 units will make their ways into the

property market in 2016, compared to 15,503

units this year. Among those, 27,181 units

originate from newly launched projects, and

6,374 units are from the stash of previously

locked-up units with owners choosing to hold

onto their properties and not incurring any

SSD. In 2011, the holding period for the SSD

scheme was raised from three to four years,

and rates increased steeply up to a maximum

of 16 percent.

(Source: Business Times)

More than 200 uni ts s old at Tembusu

More than 200 units have been sold at The

Tembusu, Wing Tai's condo project in the

Kovan area. The average price for the 337-

unit freehold condo is between $1,400 and

1,500 psf. The project is believed to be the

first residential project to attract a good

reception after the Total Debt Servicing Ratio

(TDSR) framework took effect on June 29.

SINGAPORE PROPERTY WEEKLY I 117


9/13



The project's showflat had already opened

two weekends before the sales officially

started. Entry to the showflat to VVIPs and

those who had pre-registered was by

balloting. Analysts estimated that developers

could have sold fewer than 500 private

homes last month. Len Siew Lian, general

manager for property of Wing Tai said that the

encouraging response can be due to the

comfortable sizing of the freehold apartments

in the established Kovan area, the quality

design and finishes.


Interest in ECs inc reases as p rivate home

sales d rop

As sales of private homes dropped last month

due to limited launches and the introduction

of the Total Debt Servicing Ratio (TDSR),

there has been an increasing interest towards

executive condominiums (ECs). Although no

new EC projects were launched, 112 ECs

were sold out of the 593 units moved

(including ECs), which constituted 18.9

percent of Julys total sales. On the other

hand, ECs only constituted 14.8 percent of

Junes total sales (313 ECs were sold, out of

total sales of 2,119 units) even though more

than 600 ECs were released in June. SLP

International executive director of research

and consultancy Nicholas Mak said the

phenomenon proved that TDSR framework

has shifted some home-buying demand,

especially among HDB upgraders, to the ECprojects.




10/13



Commercial

Local potent ia l investors eye of fshore

hos pital i ty pro pert ies

Because the Singapore real estate

investment scene is becoming more

challenging, local potential investors are

eyeing offshore sale-and-leaseback

properties in the hospitality sector. For the

past few months, many investors have been

investing in such properties, which typically

guarantee returns of around 6 per cent per

annum for up to a decade or so. According to

Isabelle de Wavrechin, chief executive of

French tourism management company Pierre

& Vacances, the biggest benefits of investingin offshore sale-and-leaseback hospitality

properties - mainly in Europe and Asia are

the hassle-free property management, and

numerous property sweeteners to entice retail

investors.


Sentosa Resort & Spa to be sold s oon

Sentosa Resort & Spa (formerly known as

The Beaufort Singapore) is close to being

sold at around $1 million per room, which

translates to the transaction price past $200million. The Sentosa has a gross floor area of

about 312,000 sq ft with 215 rooms including

the highly-acclaimed Spa Botanica , and a

remaining lease of about 60 years. The site is

believed to be the first resort hotel to be

transacted in Singapore in recent years.




11/13



CBDsites top bid at $1,112.44 ps f

A 99-year leasehold commercial site at Cecil

Street/Telok Ayer Street has fetched the top

bid at $1,112.44 psf ppr by FrasersCentrepoint. This was 18.8 per cent higher

than the next highest offer by Far East

Organization. Frasers Centrepoint group chief

executive Lim Ee Seng said that he was

comfortable with the group's bid price which

would result in a breakeven cost of about$2,000 psf for a new development. At least 80

percent of the sites 830,564 sq ft maximum

gross floor area must be set aside for office

use. Strata subdivision of the project is not

allowed.


http://www.moneymatters.sg/


12/13



Non-Landed Residential Resale Property Transactions for the Week of Jul 31 Aug 6

Postal

DistrictProject Name

Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

3 THE ANCHORAGE 1,464 2,350,000 1,605 FH

3 QUEENS 1,195 1,603,000 1,342 99

8 CITYLIGHTS 560 990,000 1,769 99

8 CITY SQUARE RESIDENCES 1,216 1 ,790,000 1,472 FH

8 KENT RESIDENCES 538 750,000 1,394 FH

9 SCOTTS SQUARE 624 2,779,920 4,453 FH

9 RESIDENCES AT EMERALD HILL 1,658 4,377,000 2,640 FH

9 RIVERGATE 2,088 4,150,000 1,987 FH

9 ROBERTSON 100 883 1,720,000 1,949 FH

9 ASPEN HEIGHTS 1,313 2,133,000 1,624 999

9 THE QUAYSIDE 1,550 2,380,000 1,535 99

9 PARC CENTENNIAL 1,572 2,400,000 1,527 FH



10 8 NAPIER 5,909 20,386,050 3,450 FH

10 DUCHESS MANOR 1,066 1,930,000 1,811 999

10 ORANGE GROVE RESIDENCES 3,143 5,600,000 1,782 FH

10 FIFTH AVENUE CONDOMINIUM 1,496 2,416,000 1,615 FH

10 CASA JERVOIS 1,227 1,870,000 1,524 FH

10 TANGLIN REGENCY 710 985,000 1,386 9911 AMARYLLIS VILLE 1,259 1,900,000 1,509 99

11 M21 1,755 2,490,000 1,419 FH

12 TREVISTA 1,012 1,470,000 1,453 99

12 TREVISTA 1,130 1,600,000 1,416 99

12 TWIN HEIGHTS 1,421 1,650,000 1,161 FH

Postal


Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

13 8@WOODLEIGH 1,098 1,600,000 1,457 99

13 DAISY LODGE 689 770,000 1,118 FH

14 CENTRAL GROVE 1,184 1,250,000 1,056 99

14 CAMELLIA LODGE 1,163 1,068,000 919 FH

14 ASTOR 1,130 1,020,000 902 99

15 AALTO 1,550 2,600,000 1,677 FH

15 AMBER RESIDENCES 1,249 1,840,000 1,474 FH

15 PALAZZETTO 818 1,135,000 1,387 FH

15 MABELLE 624 830,000 1,329 FH

15 KING'S MANSION 1,604 2,100,000 1,309 FH

15 ONE FORT 1,227 1,509,210 1,230 FH

15 PALM OASIS 883 1,075,000 1,218 FH

15 HAIG COURT 1,464 1,730,000 1,182 FH

15 LE CONNEY PARK 1,109 1,130,000 1,019 FH

15 KATONG PARK TOWERS 2,131 2,130,000 999 99

15 SHEBA LODGE 1,270 1,150,000 905 FH

15 NEPTUNE COURT 1,636 1,295,000 792 99

15 NEPTUNE COURT 1,636 1,250,000 764 99

15 VILLA MARINA 2,013 1,450,000 720 99

16 CASA MERAH 947 1,230,000 1,299 9916 THE BAYSHORE 1,012 1,100,000 1,087 99

16 THE TANAMERA 1,324 1,280,000 967 99

16 THE TANAMERA 1,324 1,240,000 937 99

16 BEDOK COURT 2,271 1 ,850,000 815 99

17 AVILA GARDENS 1,324 1 ,180,000 891 FH



13/13



NOTE: This data only covers non-landed residential resale propertytransactions with caveats lodged with the Singapore LandAuthority. Typically, caveats are lodged at least 2-3 weeks after apurchaser signs an OTP, hence the lagged nature of the data.

Postal


Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

18 CHANGI RISE CONDOMINIUM 1,130 1,040,000 920 99

19 OASIS GARDEN 1,227 1,550,000 1,263 FH

19 ROSYTH VILLE 1,109 1,150,000 1,037 999

19 NOUVELLE PARK 1,539 1,480,000 962 FH

20 RAFFLESIA CONDOMINIUM 1,324 1,560,000 1,178 99

21 JARDIN 1,711 3,550,000 2,074 FH

21 JARDIN 1,808 3,560,000 1,969 FH

21 MAPLEWOODS 1,324 1,965,000 1,484 FH

21 THE BLOSSOMVALE 1,572 2,050,000 1,304 999

21 SIGNATURE PARK 1,399 1,500,000 1,072 FH

21 MAYFAIR GARDENS 2,153 1,860,000 864 99

22 PARK VIEW MANSION 1,335 800,000 599 9923 THE DAIRY FARM 1,507 1,700,000 1,128 FH

23 GLENDALE PARK 1,249 1,400,000 1,121 FH

23 MAYSPRINGS 818 800,000 978 99

23 GUILIN VIEW 861 835,000 970 99

23 HILLVIEW REGENCY 1,109 1,070,000 965 99

23 H ILLVIEW APARTMENTS 1,302 1,150,000 883 FH

27 ORCHID PARK CONDOMINIUM 872 600,000 688 99

28 SELETAR SPRINGS CONDOMINIUM 1,206 1,050,000 871 99
http://propertymarketinsights.com/

singapore property weekly issue 117

Documents