singapore property weekly issue 133

8/13/2019 Singapore Property Weekly Issue 133

1/14

Issue 133Copyright 2011-2013 www.Propwise.sg . All Rights Reserved.
http://www.propwise.sg/http://www.propwise.sg/


2/14

ContributeDo you have articles and insights and ar ticles that youd like to sharewith thousands of readers interested in the Singapore propertymarket? Send them to us at [email protected] , and if theyre goodenough, well publish them here, on our blog and even on Yahoo!News.

AdvertiseWant to get your brand, product, service or property listing out tothousands of Singapore property investors at a very reasonablecost? Head over to www.propwise.sg/advertise/ to find out more.

CONTENTS

p2 Understanding the Johor Property Market

p7 Singapore Property News This Week

p13 Resale Property Transactions

(November 20 November 26)

Welcome to the 133 th edition of theSingapore 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]


3/14


4/14

SINGAPORE PROPERTY WEEKLY Issue 133

Page | 3Back to Contents

that prospective buyers should look out for.

Findings 1: Where are the propertyhotspots in Johor?

The state of Johor has different towns andcities. Apart from Johor Bahru, some of theother towns that Johor has include BatuPahat, Kluang, Kota Tinggi, Mersing, Muar,Pontian, Seggamat, etc.

If you are thinking of investing in Johor, haveyou ever wondered, where are some of theproperty hotspots within Johor?

To answer that question, we plotted out thetransaction data for bungalows (see Figure 1)as well as condominiums (see Figure 2) on

the Johor state map to see where thehotspots were.

From the figures, each circle representstransaction volume for the respective

town/city. The bigger the circle, the moretransactions that took place in that specifictown/city.

Figure 1: Johor Landed Detached HousesHeat Map (2012Q1 to 2013Q1)

Source: www.CoAssets.com/Research/
http://www.coassets.com/Research/http://www.coassets.com/Research/


5/14



Figure 2: Johor Condominium Heat Map(2012Q1 to 2013Q1)


Comparing Figure 1 and 2, we can see thatproperty type has an impact on how

transactional activity is distributed. Thus, wecan see that apart from Johor Bahru, placeslike Segamat, Kluang, etc. also had manybungalow transactions. On the other hand,

for the condominium market, we can see thatJohor Bahru had the most transactions,followed by Batu Pahat and Muar.

Hence, unlike bungalow investors, those whowish to invest in condominiums may want to

focus on Johor Bahru, as the other townshave shown to have comparatively fewer condominium transactions.

Findings 2: Which property type has themost transaction volume in Johor Barhu?

At present, the Malaysian government doesnot reveal transaction activities for Iskandar Malaysia. Hence, to get an idea on whattypes of properties would potentially do well inIskandar Malaysia, a detailed analysis of
http://www.coassets.com/Research/http://www.coassets.com/Research/http://www.coassets.com/Research/http://www.coassets.com/Research/http://www.coassets.com/Research/http://www.coassets.com/Research/


6/14



transactions in Johor Bahru is done (seeFigure 3).

Figure 3: Breakdown of transactions for Johor Bahru (2012Q1 to 2013Q1)


Based on Figure 2, it was found that althoughJohor Barhu was a hotspot for condominiums,the property type that saw the highesttransaction volume was terraced houses (see

Figure 3). In comparison, condominiums hadthe third highest transaction volume (about12.8%) while detached houses (i.e.bungalows) made up about 3.0% of alltransactions that took place in Johor Bahrufrom 2012Q1 to 2013Q1. Despite thenumerous condominium launches that tookplace in Johor Bahru (including Iskandar Malaysia) in the last few months, this charttells us that terraced houses is very much indemand (presumably among the locals).Therefore, some investors may conclude thatit would be more prudent to invest in terracedhouses instead of condominium units.
http://www.coassets.com/Research/http://www.coassets.com/Research/http://www.coassets.com/Research/http://www.coassets.com/Research/http://www.coassets.com/Research/http://www.coassets.com/Research/


7/14



Conclusion

The simple analyses above are by no meansconclusive and there are many other factorsinvestors will have to consider before makinga purchase. Nonetheless, the key takeaway Iwould like you to have is that the overseasproperty markets are often not what theyseem and doing some research cansignificantly increase your understanding of a

new investment destination.It is my hope that after reading this article,those who are still keen to invest in Iskandar will have a better idea of what to look out for.

As the saying goes, information is power .Who knows, these insights could be just what

you need to help you find your next big deal!

Getty Goh has a Masters in Real Estate and a Bachelors in Building from the Nationa

University of Singapore. He is a director at Ascendant Assets and the Co-founder of CoAssets.com. South East Asias first crowd funding and purchase website. For those who

wish to know more, please email him at [email protected] .
mailto:[email protected]://www.moneymatters.sg/mailto:[email protected]:[email protected]:[email protected]


8/14


Singapore Property This Week


Residential

Reserve-l is t plot in Geylang draws interest

Two 99-year private housing sites in Geylangwill be launched by the government thisDecember. One of them, a plot alongGeylang East Avenue 1 next to Aljunied MRTStation and on the governments reserve list,is expected to draw more interest fromdevelopers. The successful applicant hasagreed to bid at least $95 million or $505.28psf ppr at tender for the site. The site is 0.62hectare in size and is expected to have 215units. It is reported that the bite-sizedinvestment quantum has made it moreattractive to developers, compared with a

larger site in the vicinity that will also belaunched for tender by the government later this month through the confirmed list. Thislarger site, which fronts Sims Drive, AljuniedRoad and the Pan Island Expressway, has anarea of 2.4 hectares and will generate anestimated 900 private homes.

(Source: Business Times)

HDB construct ion to taper off in 2014

According to Minister for NationalDevelopment Khaw Boon Wan, the massiveconstruction of HDB flats for the past threeyears will taper off in a measured way toallow the market to gradually adjust from2014, as balance is restored between

S GA O O 133


9/14



demand and supply in the market. Thisannouncement follows the latest launch of 8,952 Build-to-Order (BTO) and Sale of Balance Flats (SBF) units last month drawing

to a close, which is the largest single launchin the history of the HDB compared with theprevious mark set in September 2011 of 8,262 units.


Tiong Seng secur es $204.5m HDB deal

Construction and property development groupTiong Seng Holdings has secured a $204.5million contract win from the Housing andDevelopment Board (HDB) for a publichousing project at Woodlands Crescent andWoodlands Rise, bringing its order bookcurrently to $1.28 billion. The company willconstruct 11 blocks of 14 or 16-storeyresidential buildings, two blocks of multi-

storey carpark, commercial and communityfacilities, a precinct pavilion, and an ESS or electrical substation. The deal is throughTiong Seng Holdings subsidiary Tiong Seng

Contractors.


Governments c oo li ng m eas u res s h ow

resul ts

The governments cooling measures to theresidential property market are reported toshow significant impacts. The Monetary

Authority of Singapore Financial StabilityReview 2013 said that such measures havedampened momentum in the market.Transaction volumes have decreased, newhome loan sales have contracted, and loan-to-value (LTV) ratios have improved.However, the government is vigilant becauseprice levels still remain high.

SINGAPORE PROPERTY WEEKLY I 133


10/14



For example, despite slower sales, tender prices by developers are high - two adjacentplots at Upper Serangoon View got eight bidseach in its tender last month, with foreign

developers continuing to outbid local players.(Source: Business Times)

MND to i mp os e c ap o n HDB flats fo r

foreigners

The Ministry of National Development (MND)

is reported to be imposing a cap on thenumber of flats that can be sublet toforeigners in each Housing and DevelopmentBoard block (excluding Malaysians, due totheir close cultural and historical similarities),but the appropriate cap has yet to be decided.

According to Minister of NationalDevelopment Khaw Boon Wan in his blogpost titled Preventing Foreigner Enclaves,he said that he was mindful of the need tobalance the impact on people relying on

subletting for additional income, especiallythe elderly.


M ed i an C OV f o r r es al e f la ts l o w es t i n 4 years

According to flash estimates from theSingapore Real Estate Exchange (SRX),median cash-over-valuations (COVs) for resale HDB flats have fallen to their lowest in

more than four years, showing that themarket for HDB resale flats continued toweaken. Median COVs decreased by 30.1percent to $8,000 in November, comparedwith $11,444 the month before the first timeit fell below $10,000 since July 2009. COVs

have also been reported to consistently fallingthroughout 2013 from a peak of $35,000 inJanuary.


SINGAPORE PROPERTY WEEKLY I 133


11/14



Allgreen launches SkySui tes@Anson

Allgreen Properties has launched sales for its99-year leasehold 72-storeySkySuites@Anson project in Tanjong Pagar,with prices starting from $968,000. Thedevelopment, expected to be completed in2015, will have 360 one to three-bedroomunits of between 365 sq ft and 1,140 sq ft.Compared with asking prices of $1.3-1.8million for new one-room homes in TanjongPagar and an average of between $1.2million and $1.3 million for a similar resaleunit in the area, the $968,000 price tag for aone-bedroom apartment atSkySuites@Anson is considered attractive to

buyers.(Source: Business Times)

Sales for K aleido terrace houses s tar t s on

Jan 4

Sales for Kaleido, a 14-unit cluster of freeholdterrace houses along Lorong K Telok Kurau,will start on Jan 4, with an average price of around $1,000 psf. Each unit has threestoreys, two basement carpark lots, fivebedrooms, living and dining rooms, and a lift.The units have high ceilings and rectangular layouts, with their sizes between 3,100 sq ftto 3,498 sq ft. Prices start at $3.3 million inabsolute terms. The marketer for the project,Knight Frank opened the showflat for aprivate preview this weekend. The project isby Amerald Land, a wholly owned subsidiary

of Precise Development. Amerald Land isalso behind the 16-unit Shiro freehold



12/14



development in Lorong H Telok Kurau.


Commercial

Su ng ei K ad ut p ro per ty to b e s old fo r

$8.65m

Listed outdoor furnishings specialist SitraHoldings has obtained JTC approval to sell itsSungei Kadut property to World Furnishing

Hub Pte Ltd (WFHPL) for $8.65 million. A saleand purchase agreement has been enteredon Dec 2. WFHPL is a special-purposevehicle jointly owned by tile specialist HafaryHoldings, two of its substantial shareholdersand Sitra itself. WFHPL plans to redevelop

the site into a property with a market value of about $55 million, and a gross floor area of about 300,000 sq ft, of which 250,000 sq ft for industrial use and the balance for commercial

purposes.


New s u rv ey s s h ow s c o nf li ct in g v iew s

towards Singapore p roper ty m arket

According to the latest real estate forecast jointly published by the Urban Land Institute(ULI) and PricewaterhouseCoopers LLP(PwC), Singapore has fallen four spots toseventh place in terms of investment appeal,and dropping six spots to ninth position interms of the development prospects front.This is the first time Singapore has fallen outof the top five spots since the report started in2007. However, the Emerging Trends in RealEstate Asia Pacific 2014, a property forecastsurvey of over 250 real estate professionals,showed that Singapore is still a favouredmarket in Asia of considerable investmentand development appeal,



13/14



due to its vibrant economic growth and strongemphasis on community livability. Accordingto PwC Singapore, investing in Singaporereal estate is more expensive now due to

expected higher interest rates, compressedcap rates and tighter regulations, yet theremay still be room for better return with lowvacancy rates and more potential for higher rentals.


JTC amends indus t r ia l p roper ty ru les

JTC has now required industrialists and third-party facility providers such as propertyfunds/developers who own industrialproperties on JTC-leased sites to hold theseproperties for a longer period before they maysell them. In addition, JTC has extended theminimum occupation period for anchor tenants of third-party facility providers. With

such amendments taking effect on Nov 5,JTC aims to safeguard Singapore's scarceindustrial land resources for optimal use bygenuine industrialists and reduce property

speculation. JTC also aims to ensure thelessees allocated for its limited industrial landin the lease contract based on their proposedbusiness plans remain committed to the landfor a sustained and reasonable period of time.


http://propertymarketinsights.com/


14/14



Non-Landed Residential Resale Property Transactions for the Week of Nov 20 Nov 26

NOTE: This data only covers non-landed residential resale propertytransactions with caveats lodged with the Singapore Land

Authority. Typically, caveats are lodged at least 2-3 weeks after apurchaser signs an OTP, hence the lagged nature of the data.

PostalDistrict

Project NameArea(sqft)

TransactedPrice ($)

Price($ psf)

Tenure

2 SPOTTISWOODE PARK 850 800,000 941 994 CARIBBEAN AT KEPPEL BAY 1,356 2,320,000 1,711 995 ONE-NORTH RESIDENCES 1,335 1,820,000 1 ,364 995 HERITAGE VIEW 1,206 1,400,000 1,161 995 KENTVIEW PARK 1,313 1,350,000 1,028 FH5 VARSITY PARK CONDOMINIUM 2,271 2,150,000 947 999 HILLTOPS 807 2,345,000 2,905 FH9 ILLUMINAIRE ON DEVONSHIRE 721 1,600,000 2,219 FH9 MOUNT SOPHIA SUITES 549 1,090,000 1,986 FH9 ROBERTSON EDGE 398 740,000 1,858 999

10 THE GRANGE 1,744 3,700,000 2,122 FH10 THE MONTANA 614 1,297,010 2,114 FH10 THE MONTANA 1,141 2,149,300 1,884 FH10 THE MONTANA 1,206 2,208,840 1,832 FH10 GLENTREES 1,442 1,975,000 1,369 99910 DUCHESS CREST 1,367 1,785,000 1,306 9910 TANGLIN REGENCY 1,259 1,585,000 1,259 9911 SOLEIL @ SINARAN 936 1,830,000 1,954 9911 PARK INFINIA AT WEE NAM 1,464 2,650,000 1,810 FH

11 LA SUISSE 1,658 2,000,000 1,207 99912 TRELLIS TOWERS 1,647 2,058,000 1,250 FH14 CASA AERATA 463 700,000 1,512 FH15 HAIG COURT 1,453 2,000,000 1,376 FH15 COTE D'AZUR 1,141 1,350,000 1,183 99

PostalDistrict

Project NameArea(sqft)

TransactedPrice ($)

Price($ psf)

Tenure

15 LAGUNA PARK 1,453 1,238,888 853 9916 SUNHAVEN 1,259 1,400,000 1,112 FH16 EASTWOOD GREEN 1,163 1,058,500 911 9917 AVILA GARDENS 1,281 1,200,000 937 FH17 WATERCREST 1,302 1,023,888 786 99918 NV RESIDENCES 904 924,777 1,023 9918 RIS GRANDEUR 1,356 1,320,000 973 FH18 MELVILLE PARK 990 820,000 828 9918 ELIAS GREEN 1,518 900,000 593 9919 REGENTVILLE 1,152 910,000 790 9920 GRANDEUR 8 1,410 1,560,000 1,106 9921 THE BLOSSOMVALE 1,572 1,825,000 1,161 99921 PINE GROVE 1,755 1,588,000 905 9922 LAKEPOINT CONDOMINIUM 1,884 1,188,000 631 9923 HILLVIEW REGENCY 1,195 1,155,000 967 9923 MERALODGE 1,819 1,728,050 950 FH23 HILLVIEW REGENCY 1,130 1,040,000 920 9923 REGENT HEIGHTS 1,173 1,000,000 852 9926 THE CALROSE 1,475 1,880,000 1,275 FH27 YISHUN EMERALD 958 830,000 866 9927 YISHUN EMERALD 958 819,000 855 99

singapore property weekly issue 133

Documents