singapore property weekly issue 107

7/28/2019 Singapore Property Weekly Issue 107

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CONTENTS p2 Does the End of QE Mean the End of

the Property Boom?

p9 How to Invest in Philippines’ Property – Asia’s

Hottest Market

p17 Property Renting Tip #12: When Your

Property Value has Increased

p18 Singapore Property News This Week

p24 Resale Property Transactions (May 22 – May 28)

Welcome to the 107th edition of the

Singapore Property Weekly .

Hope you like it!

Mr. Propwise

FROM THE

EDITOR

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SINGAPORE PROPERTY WEEKLY Issue 107

Page | 2Back to Contents

By Gerald Tay (guest contributor)

Financial markets have been on a highly

jittery state since the US Federal Reserve

announced that they are starting to unwind its

mega-monetary easing (known as

Quantitative Easing, or QE) soon. The day of reckoning may not yet be at hand, but given

the increased frequency of alerts, it may be

nearer than most people think.

What are the possible impacts this could have

on the Singapore property market? Let’s

examine what could trigger a potentialdownturn or crash in property prices from

both global-macro and country-micro warning

signs.

Does the End of QE Mean the End of the Property Boom?





The four-letter-word: ‘exit’

Is Mr. Bernanke just testing the impact his

words would have on financial markets, or is

he seriously considering cutting back on the

Fed’s mega-bond purchases (the maininstrument of its QE policies) soon? With

recent positive economic news in the US, has

the Fed decided that quantitative easing has

done its job and it is time to take away the

crutch?

If the Fed is serious in its intent, the current

fuel for the international flow of capital to

investors will be sluggish at best and this may

result in a fall of asset prices, including real

estate. But this may not happen overnight,

and may take another year or two before we

see a serious price correction.

Markets are under the spell of central

bankers

Recently, many major global economic

financial institutions, like The International

Monetary Fund (IMF), The Institute of

International finance (IIF), and the Bank for

International Settlements (BIS) in Basel,

Switzerland have expressed concerns aboutflooding Asia and emerging markets with

cheap money, which have been driving stock

and other asset prices like property to levels

not justified by economic fundamentals.

The International Monetary Fund (IMF) said it

might be time to consider pulling back thischeap money created by key advanced

economies, while at the same time warning

that such a move will likely have adverse

impacts and create turbulence in global

financial markets.

As IMF managing director Christine Lagarderecently put it, “The persistence of easy

monetary policy increased the flow of capital

to emerging markets, especially in Asia and

Latin America.





Such flows can be beneficial to an economy,

but they can also lead to financial stability

risks. Even worse than the tide coming in is

the tide going out – a possible sudden

reversal of large capital flows can overwhelman economy.”

Robert Pringle, a member of the Group of

Thirty Bankers and other financiers said, “the

risks and dangers for the global economy

from mega-monetary easing by central

bankers are like hidden reefs for a ship – invisible but deadly.”

Bye-bye to bull market in bonds, hello to

higher interest rates

With the reduction of monthly bond buying

from the Fed, this might be the end of a 30-year rally for bonds in USA.

The Fed’s stimulus programs have helped

flatten the yield curve, resulting in the lowest

rates in the history of the United States today.

With a decrease in bond prices, investors will

be asking for higher yields to compensate for

lower bond prices. Thus, with the resulting

higher interest rates in the US, Singapore’s

interest rates will also rise, which willultimately create a ‘slow death’ for many

property investors and buyers who are over-

leveraged or over-committed on illusionary

low rates.

China and Eurozone’s problems remained

the main area of concern

As for further risks, a severe correction for

Asian markets, i.e. Singapore, might come

from news of Chinese bad debts. Negative

sentiment could overflow to Asian equities,

followed by real estate, if one or two Chinese

local governments are allowed to go under.

The IMF has recently cut its GDP projection

for China, the main engine of the global

economy to around 7.75% from 8%.





Even then, we might want to question if all

economic data coming out from China are

simply a ‘black hole’ in disguise.

The Eurozone is also entering a softer patch

and remains the main area of concern, withthe 17-nation Eurozone being in recession for

six consecutive quarters and operating at

‘zero speed’. Going forward, the financial

indicators are not encouraging either.

Fall in property prices beyond

government’s control and require a bit of

‘luck’

The Singapore government is “engineering a

soft-landing” for the housing market. The

smart question for everyone is: “will these

efforts be enough to withstand possibleexternal shocks that have similarly brought

down the Singapore property market

historically in the past years despite previous

cooling measures?”

The answer is a resounding ‘no’.

In his latest blog post, National Development

Minister Khaw Boon Wan said a soft-landing

in property prices would require a bit of luck

with factors beyond the government’s control,such as the global economic conditions. One

key strategy being taken is to ramp up supply

of public flats and private residential units.

A double whammy - oversupply with lower

rental growth

Singapore’s residential property supply is

expected to meet its target of 13,600 HDB

flats and 18,400 private homes this year.

As of 31 May 2013, the HDB has built 6,000

flats and is confident of delivering the

remaining 7,600 units by end 2013. 3,500private housing units have also been

completed as of April, with the remaining

14,900 expected to be completed by this

year.





Coming closer to 2015 to 2016, we shall be

expecting at least 200,000 units to be

completed, coming from both HDB and

private.

Moving forward, investment demand isexpected to moderate due to stricter financing

restrictions and higher stamp duties from the

government’s latest round of cooling

measures.

In addition, rental growth might continue to

slow down due to the substantial number of

completions this year and lower rental

demand as a result of the government’s

restrictions on foreign labour inflow.

Jury still out

Mega-monetary easing by many keyadvanced economies has been remarkably

successful, especially for our Singapore

property market over the last four years. With

so much cheap money flowing into our

shores, it has driven our local stock and

property market fast and furious. This has

produced the ‘wealth effect’ which is

supposedly to help buoy businesses and fuel

more consumer spending. To quote AnthonyRowley, a prominent Tokyo News

Correspondent, “The jury is still out on this,

however, and meanwhile asset prices like

property are looking ‘over -rich’.”

Cheap money has drawn a lot of money out

of key advanced economies where yields arelow, into Asia and emerging markets, where

they are higher. Once these economies start

tightening financial policy, this money will

head home and where will Asia and emerging

markets be then?

Singapore, Asia and other emerging marketsmay be in for a rough ride, once the tide of

money that has flowed out of US, Europe and

even Japan, flows back out of these

temporary emerging market havens.

SINGAPORE PROPERTY WEEKLY I 107





Inflation – An Angel or a Devil in Sheep’s

Skin?

The recent years of too much easy money

flowing into our shores has fuelled inflation to

an unprecedented level. Affordable housing

and lower cost of living to the masses should

be the priority of any government policies. In

other words, inflation if needed should benefit

all classes of society as a whole, and not

simply provide that convenient ladder for the

rich to get richer, at the expense of the poor and middle class.

Recently, I overheard a prominent CEO of a

local property agency saying to his seminar

participants, that anytime is a good time to

buy property, and even though the property

fetches a negative or marginal yield, buyers

will compensate their losses eventually

through future capital appreciation.

Either this already rich CEO is in serious

disillusion of current affairs, or he’s deepening

his personal pockets at the expense of the

average mass market buyers.

This article is written to educate the mass

market buyers/investors on the potentially

serious global financial issues we are

currently facing and how it will ultimately

affect everyone financially. As long as you’re

not over-leveraged in mortgage debts or over-

committing financially because of illusionary

low interest rates, and able to service your loan regularly, an imminent downfall in your

property value will not affect you.

If I may say so, I believe a fall in asset prices

and especially property, the deflating of the

balloon filled with ‘cheap money’ over the last

four years, will tremendously benefit the

financial lives of the very people who have

been most prudent, especially for the poor

and the middle class.

SINGAPORE PROPERTY WEEKLY I 107





They will be able to buy affordable homes

through enough savings, or grab ample

opportunities of investing in a downturn to

grow their wealth for retirement.

Perhaps this potential outflow of cheap

money may be the start of a time where the

poor and middle class ‘steal’ back some of

the wealth stolen from them by some selfish

Rich.

It’s payback time if you are savvy enough.

To sceptics who think I’m trying to ‘talk the

market down’ with this article because I have

missed opportunities, here’s my reply - I’ve

bought three more local properties within the

last four years, with two of them currently

sitting on good capital appreciation with

decent cash flow and one of them sold withsolid profits in my pockets.

By guest contributor Gerald Tay, CEO of

CREI Academy Group, who exposes widely-

held property investment myths that have

proven highly ineffective in creating wealth,

and prevent a comfortable retirement for the

ordinary investor.


http://www.crei-academy.com/










How to Invest in Philippines’ Property – Asia’s Hottest Market

With the high property prices in Singapore,

many investors are looking overseas to find

attractive investment opportunities. Besides

the developed markets such as the US,

London and Australia, there has also been

interest in looking at fast-growing emerging

markets such as the Philippines. In this article

we’ll take a look at the Philippines real estate

market, the type of properties you can invest

in, what investors should look out for, and

how to invest in it.

Why invest in Philippines real estate?

Given the difficulties in the developed

economies of the world,






you might wonder why foreigners would want

to purchase a property in the Philippines. The

main reasons they have started to do so at an

accelerating pace include:

1. The rapidly growing Philippines

economy sets the context for rising property

prices. The Gross Domestic Product (GDP) of

the Philippines rose by 7.8% in the first

quarter of 2013, with expectations for strong

growth for the rest of the year. From 2002 to

2012 the average annual GDP growth rate of

the Philippines was 5%.

2. Property prices in the Philippines are

one of the lowest in Asia, up to 80% lower

than Singapore for premier city centre

properties (US$2,807 per square meter versus $16,350 in

Source: Global Property Guide






3. Rental yields in the Philippines are one

of the highest in Asia, at around 7%, versus

ust 3% in Singapore.

Source: Global Property Guide

4. The stable and strong growth of

Business Process Outsourcing (BPO) and

Information Technology Outsourcing (ITO)

industries in the Philippines increases both

the income of the locals and also the number of expats, which creates demand for

apartment rentals.

What foreign investors should take note of

Foreign ownership of Philippines property can

occur under the following circumstances:

The foreign investor purchases a

condominium unit, where not more than

40% of the building is foreign owned (this

is the most common situation)

The foreign investor has a Filipino spouse

through which they buy the property

The foreigner holds a Special

Retirement/Investment Visa

Via forming a company. When buying

Philippines property via a company,






a minimum of five shareholders are

required, and the Filipino shareholding

must be at least a 60%.

Foreign ownership of Philippines property

requires payment of taxes. Taxes include adocumentary tax of 1.5%, a transfer tax of

0.5%, 10% Value Added Tax (VAT), and

income tax on rent of 5.13%, along with other

fees.

Types of properties you can invest in

We will now take a look at specific examples

of the range of residential properties that you

can invest in, and what pricing and quality is

like. Information on the following properties

are provided courtesy of Century Properties

Group (CPG), a leading property firm in the

Philippines that offers a full-range of services

including property development, sales and

marketing, and property management. One of

the most experienced real estate companies

in the industry, CPG has built over 22

buildings (with over 4,200 units) and 720

homes, with a 100% completion rate of all its

projects. Century Property Management Inc.

can help unit owners manage their property

for rental and re-sale.

Mass Market – Commonwealth

Located in Quezon City, near to a soon-to-be






Ayala Mall, Commonwealth consists of eight

towers (six of which have already been

launched) of a total of 3,190 units. It has full

facilities such as a clubhouse, two basketball

courts, sky garden and a swimming pool.

Launched in 2012, 50% of the units have

already been sold and the current pricing is

from around Php94,847 per square meter

(~S$284 per square foot). The eight towers

are expected to be completed from 2015 to

2017.

Mid-to-High End – Azure

With an exclusive tie up with Paris Hilton,

Azure Urban Private Residences is located in

Paranaque City just beside the SM Bicutan

Mall.






It features a man made beach and consists of

a total of 5,002 units spread over nine towers,

eight of which are already open for sale.

Launched between 2009 and 2012, the

completion dates for the different towers arefrom 2013 to 2017. Around 84% of the units

have been sold and the current pricing is from

around Php110,204 (~$306 psf).

Luxury – Acqua

Acqua Private Residences is located right

across the Power Plant Mall in Mandaluyong

City. This project consists of six towers (five

of which are already open for sale) and a total

of 3,061 units. Launched between 2011 to2012, the completion dates range from 2015

to 2018. More than 80% of the units have

been sold, and the remaining units are

currently priced at from around Php156,303

psm (~S$435 psf).




S G O O ssue 0


Super Luxury – Trump Tower Manila

The 56-storey Trump Tower Manila is located

in Century City, Makati City, and is the first

Trump Tower (licensed from Donald Trump) in

the Philippines and in South East Asia.

Launched in 2011 and scheduled to be

completed in 2016, most of the 238 units

have already been sold, and the few

remaining units are going from Php235,836

psm (~S$656 psf).

How to buy Philippines property

Depending on whether the developer you

would like to purchase a unit from has a

representative office in Singapore, buying a

Philippines condominium can be as easy as

making a simple reservation and putting down

a small deposit as a reservation fee.

Upon putting down a reservation fee (which

will be deducted from the contract price), the

buyer will be given a Reservation Agreement,

Buyer’s Information Sheet and Payment

Schedule. After one to two months, the

Developer will then provide a temporary title





called a Contract To Sell. Upon Turn Over

(the equivalent of TOP in Singapore) the

Owner will receive the Condominium

Certificate of Title (CCT).

Typically, the Developer will also offer variousfinancing and payment plans. For example,

Centuries Property Group offers eight

different payment options with discounts

ranging from 2% to 20% depending on the

payment terms. Down payments can range

from 0% to all cash, while mortgage loans of 20% to 70% of the purchase price are

available from banks.

This educational article has been prepared

with the kind assistance of Century Properties

Group. If you’re interested in learning more

about any of their properties or investing inPhilippines properties for both rental yield and

capital appreciation, please click here to

contact their Singapore-based

representatives.


http://aktive.wufoo.com/forms/learn-more-about-investing-in-philippines-property/



http://propertymarketinsights.com/









You can consider taking an equity or termloan on the investment property when the

value has increased while still keeping the

property.

This can be done only with private properties

when the current Market Value of the property

is higher than the current loan outstanding.

Example below for Educational Purpose only:

Market Value of Property is S$1,500,000.

Loan outstanding is S$500,000.

Loan can be increased to 70% of Market

Value = 0.7 x $1,500,000 = S$1,050,000.

Additional loan of $1,050,000 - $500,000 =S$550,000 can be obtained, subject to

approval.

In the event when CPF was utilized to pay for

the property, this amount, together with the

accrual interest, has to be deducted from the

loanable amount to work out the equity loan.

By Eileen Tan and Ui Wei Teck, property

investors and authors of Enjoying Mid-Life

Without Crisis. This tip and dozens more are

from their book .

Property Renting Tip #12: When Your Property Value has Increased


http://aktive.com.sg/store/enjoying-mid-life-without-crisis/















Singapore Property This Week


Residential

Jewel@Buangkok draws strong response

203 out of the 280 units at 616-unit

Jewel@Buangkok were sold. Average selling

price was about $1,150 psf which includes an

early-bird discount. 84% of buyers are

Singaporeans, many were young couples,PMEBs (professionals, managers, executives

and businessmen) and HDB upgraders. 16%

of buyers were foreigners and PRs from

Malaysia, China, Indonesia, Taiwan, Hong

Kong, Australia, the United States and

Japan. Jewel@Buangkok, the six towers with

heights of 15-17 storeys includes one to five-

bedroom apartments, dual-key units and

penthouses with a size of 463 sq ft to 1,701

sq ft. 2 out of 5 penthouses of the project

were sold. Jewel@Buangkok is conveniently

located near Buangkok MRT which is closeto various shopping malls, parks and schools.

(Source: Business Times)

Possib i l i ty of oversupply for pr ivate

housing land

Some property consultants are expecting theMinistry of National Development (MND) to

maintain the land supply for private housing

at a similar level to the current H1 2013 slate

as the demand from the “sandwich class” is

stable. Others anticipate MND to cut down

the land for executive condos (ECs) byallocating a higher proportion of total private

housing land (including ECs) on the reserve

list than in the confirmed list to create

flexibility for land sales and avoid oversupply.





MND may release more commercial sites in

the suburbs for its decentralization plans in

Jurong East, Paya Lebar, Woodlands and

near to the Circle Line MRT stations. It’s

unlikely for the state to release any large

office sites in the CBD through the confirmed

list. There may be release of hotel sites in the

reserve list.


Construct ion s ector crucia l in co-p i lo t ing

'soft- landing ' : Khaw

In his blog post, Mr Khaw (MND) wrote that

ramping up the supply of HDB flats and

private residential units is a key strategy in

achieving a "soft-landing" which needs the

cooperation from local construction

companies. HDB's building contractors had

completed 6,000 units as at the end of last

month and the remaining 7,600 units by the

end of the year despite the tightening of

foreign labor. 3,500 private residential units

were completed by end-April this year while

the remaining 14,900 private residential units

can be completed within this year. 13,600

HDB flats and 18,400 private residential units

are scheduled to be completed this year. HDB

has also arranged for BTO projects such as

Treegrove@Woodlands to be completed in

phases, which allows buyers to receive their

keys earlier by a couple of weeks. HDB will

launch another 25,000 flats this year and

deliver between 26,000 and 29,000 flats in

each of the next two years.


8,000 Sale of Balance Flats (SBF), Build -

to-Order (BTO) flats up f or sale

4,900 BTO units in 8 projects across 5 non-

mature estates (Choa Chu Kang, Hougang,

Jurong West, Sembawang and Woodlands)

will be offered; 3,100 SBF flats are spread

across 26 mature and non-mature estates.

For the BTO projects, Keat Hong Crest





will offer 682 three-room to five-room flats

priced at $140,000 -$308,000. In Hougang,

Golden Mint will offer 292 studio apartments

priced from $76,000; Hougang Crimson will

have 314 three-room and four-room units

priced at $171,000 - $268,000. In Jurong,

Spring Haven@Jurong offers 478 two-room

to four-room flats priced at $94,000 -

$260,000. In Sembawang, three projects

were launched namely EastBank @

Canberra, EastBrook @ Canberra and

EastWave@Canberra where total of 2,116two-room to five-room units are up for sale at

$82,000 - $314,000. The final project in the

latest BTO exercise is Woodlands Pasture I

and II offers 1,018 three-room to five-room

flats from $133,000 to $276,000. SBF flat

prices vary from a $145,000 two-room flat inPasir Ris to a $760,000 executive flat in

Queenstown alongside with 3 new updates.

First, the Parenthood Priority Scheme is now

extended to married couples expecting their

first child and are buying their first flat.

Secondly, HDB has doubled the quota of two-

and three-room flats in non-mature estates.

Thirdly, HDB will set aside half the studio

apartments from its launches for elderly

buyers who wish to downsize from their

current home nearby or to be near their

married children.


Developers upbeat for Execut ive

Condom iniums (EC)

The healthy participation rate and the robust

competition among the top bidders signify

that developers are still upbeat towards the

EC market. The range of bids was quite tight,

with the highest bid being only 24% above the

lowest. A 99-year EC site in Anchorvale

Crescent drew a top bid of $330.65 per

square foot per plot ratio (psf ppr) from

Qingjian Realty (South Pacific) Group.





Another Woodlands EC site plot concluded

with a top bid of $341.21 psf ppr amongst

seven bids. Qingjian's bid was 3.2% higher

than the next highest offer of $320.45 psf ppr

placed by City Developments unit Bellevue

Properties. Kheng Leong partnered Low Keng

Huat to bid at $316.68 psf ppr. Frasers

Centrepoint's unit FCL Place and Hytech

Builders joined forces, offering $308.30 psf

ppr. The two other bids were from EL

Development ($275.75 psf ppr) and

Teambuild Land unit Ecco Development,which offered $266.59 psf ppr for the site,

which can yield an estimated 690 units. The

$331 psf ppr top bid surpassed the $296.48

psf ppr for the Sengkang West Way site last

November by 11.5%. With Qingjian's

breakeven cost at about $650 psf, theaverage selling price for the project could be

in the $730-780 psf range. It will be launching

its next EC development, the 512-unit

Ecopolitan, at Punggol Way next month. The

group has two earlier EC projects - RiverParc

Residence and Waterbay - both of which are

under construction in Punggol, and fully sold.


Johor proper ty tax hike un l ike ly to affect

demand from S'pore

Despite higher taxes, properties in Johor will

remain a choice investment for Singaporeans.

Demand for the 147 new homes at Afiniti

Residences in Medini Iskandar Malaysia has

not been affected. As of 31 May, the

developer had received another 1,570

purchase applications, 60% come from

Malaysians, 32% from Singaporeans, 8%

from Indonesia, South Korea and the UK.

Units at Afiniti Residences are priced at RM

850 to RM 1,000 psf or at least RM 500,000

(S$202,000) for a 484-square-feet studio

apartment. In Johor, foreigners can only buy

properties above RM 500,000 and selected





buyers at the balloting session must put down

a RM 30,000 deposit.

(Source: CNA)

Signi f icant drop in sub-sales of pr ivate

resident ial prop ert ies

The level of speculative activities has

dropped substantially in the past few years,

sub-sales of private residential properties hit

a six-year low of 4.5% in Q12013. The

government’s increase of tax and holding

period have helped bring down sub-sales

over the last 3 years. The average holding

period of private homes has increased from 6

years to 10 years. The sub-sales number is

expected to remain low, unless there is a

severe economic downturn forcing owners to

sell.

Resale non-landed private property prices in

the city area dropped 0.5 % over the previous

month, those in the city fringes declined

0.4%, while resale suburban private prices

increased 0.3 %. Rental prices for non-landed

private residential in May slipped 0.6% from

April. Cash-Over-Valuation (COV) for HDB

flats dropped S$4,000 to reach S$26,000 -

the lowest level since July 2012. HDB resale

prices dropped 0.1% in May. 1,300 HDB

resale transactions are expected to be closed

in May, a 10% drop compared to April, 35%

lower compared to the same period last year.

Overall HDB median rents dropped by S$50

to end at S$2,350 in May 2013, after remaining constant at S$2,400 since June

2012.

(Source: CNA)

GCB transact ions m aking a comeback

Knight Frank is selling a freehold bungalow in

Peel Road in the Ridout Park GCB Area. It

has also sold a bungalow at 82 Meyer Road

for $30.7 million via public tender,





with the price working out to $1,203 psf on its

25,525 sq ft land area. Simon Cheong, the

boss of high-end developer SC Global, is

selling his home in Cornwall Gardens for

$42.5 million which works out to $2,051 psf on

the land area of 20,719 sqft. Other recent

transactions in GCB Areas include a property

in Chancery Lane, which changed hands for

$28.5 million or $1,378 psf on about 20,688

sq ft, a nearby bungalow in Bukit Tunggal

Road fetched $17.5 million or $1,664 psf on

land area of 10,516 sq ft. In April, a bungalow

in Brizay Park was sold for $24.5 million or

$1,017 psf on land area of 24,090 sq ft, a

property in Oei Tiong Ham Park traded at $20

million or $1,445 psf on land area of 13,843

sq ft. A negotiation is underway for Wing Tai

chairman Cheng Wai Keung's 84,839-sq-ftsite in Nassim Road, with prices likely

between $2,500 and $3,000 psf.

Commercial

Commercial si te in CBD up for sale

The land parcel of 0.8ha was made available

for sale through the Reserve List system on

19 December 2012 at minimum bidding price

of $623,730,000. The land parcel isstrategically located at Cecil Street / Telok

Ayer Street near to Tanjong Pagar MRT

Station. It is allowed to be developed up to 50

storey height, has an office zoning with a

potential GFA of 77,000 square meters.

(Source: SBR)

CBD's off ice vacancy rate dropped to

10.2%

Office vacancy rate fell to 10.2% in 1Q2013,

the lowest level in more than three years, due

to strong demand from occupiers. Despite the

weaker business outlook, improving market

sentiment is likely to limit the decline in office

rents throughout 2013 to less than 5%.

(Source: SBR)





Non-Landed Residential Resale Property Transactions for the Week of May 22 – May 28

Postal

DistrictProject Name

Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

1 PEOPLE'S PARK COMPLEX 1,119 960,000 858 99

2 THE ARRIS 990 1,700,000 1,717 FH

2 INTERNATIONAL PLAZA 1,033 1,150,000 1,113 99

3 QUEENSWAY TOWER 1,539 1,560,000 1,013 FH

3 LANDMARK TOWERS 1,292 1,250,000 968 99

4 CARIBBEAN AT KEPPEL BAY 1,636 2,700,000 1,650 99

4 THE BERTH BY THE COVE 1,658 2 ,600,000 1,568 99

4 THE BERTH BY THE COVE 1,184 1 ,780,000 1,503 99

5 GOLD COAST CONDOMINIUM 1,830 2,062,410 1,127 FH

5 VARSITY PARK CONDOMINIUM 2,153 2,020,000 938 998 CITY SQUARE RESIDENCES 570 1,025,000 1,797 FH

9 HELIOS RESIDENCES 3,993 12,000,000 3,005 FH

9 VIDA 861 1,950,000 2,264 FH

9 CAIRNHILL CREST 1,130 2,250,000 1,991 FH

9 ASPEN HEIGHTS 1,324 2,130,000 1,609 999

9 UE SQUARE 1,098 1,600,000 1,457 929

10 AVALON 1,765 3,150,000 1,784 FH

10 VALLEY PARK 1,701 2,800,000 1,646 999

10 KELLOCK LODGE 893 1,280,000 1,433 FH10 DUET 1,744 2,400,000 1,376 FH

10 VILLA AZURA 1,249 1,528,000 1,224 FH

11 PARK INFINIA AT WEE NAM 969 2,040,000 2,106 FH

11 PAVILION 11 958 1,657,340 1,730 FH

11 SOLEIL @ SINARAN 1,442 2,320,000 1,608 99

Postal


Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

11 ROCHELLE AT NEWTON 1,356 2,080,000 1,534 99

11 AMARYLLIS VILLE 1,259 1,930,000 1,532 99

11 AMARYLLIS VILLE 1,690 2,535,000 1,500 99

11 MOUNT ROSIE GARDEN 2,573 3,350,000 1,302 FH

12 THE CITRINE 958 1,250,000 1,305 FH

12 KEMAMAN POINT 861 1,046,000 1,215 FH

12 TWIN HEIGHTS 1,421 1,668,000 1,174 FH

12 THE ARTE 1,873 2,139,900 1,143 FH

13 8@WOODLEIGH 1,292 1,500,000 1,161 99

14 STARVILLE 581 720,000 1,239 FH14 THE HELICONIA 1,302 1,388,000 1,066 FH

14 SIMSVILLE 1,238 1,280,000 1,034 99

14 ASTON MANSIONS 1,216 980,000 806 99

15 ONE AMBER 1,335 2,013,000 1,508 FH

15 OLA RESIDENCES 990 1,430,000 1,444 FH

15 COSTA RHU 1,012 1,300,000 1,285 99

15 ST PATRICK'S LOFT 861 1,100,000 1,277 FH

15 LAGUNA PARK 1,453 1,220,000 840 99

16 CHANGI COURT 1,163 1,230,000 1,058 FH16 CHANGI GREEN 1,432 1,460,000 1,020 FH

16 AQUARIUS BY THE PARK 1,206 1,100,000 912 99

16 THE TANAMERA 1,518 1,310,000 863 99

17 CASA PASIR RIS 570 630,000 1,104 946

17 EDELWEISS PARK CONDOMINIUM 1,335 1,250,000 937 FH


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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.

Postal


Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

18 CHANGI RISE CONDOMINIUM 1,496 1,420,000 949 99

18 EASTPOINT GREEN 1,130 1,020,000 902 99

18 EASTPOINT GREEN 1,550 1,200,000 774 99

19 KOVAN MELODY 1,216 1,275,000 1,048 99

19 RIO VISTA 1,378 1,250,000 907 99

19 EDEN VIEW 1,948 1,570,000 806 FH

20 TRESALVEO 1,668 2,205,000 1,322 FH

20 RAFFLESIA CONDOMINIUM 1,302 1,480,000 1,136 99

20 BISHAN POINT 1,270 1,360,000 1,071 99

21 THE CASCADIA 2,368 2,450,000 1,035 FH

21 ROYAL COURT 2,357 2,380,000 1,010 FH

22 THE LAKESHORE 861 1,093,000 1,269 99

22 THE CENTRIS 1,066 1,325,000 1,243 99

22 THE CENTRIS 1,238 1,525,000 1,232 99

22 THE LAKESHORE 1,109 1,360,000 1,227 99

22 THE LAKESHORE 926 1,080,000 1,167 99

23 MERAWOODS 1,615 1,680,000 1,041 999

23 GUILIN VIEW 1,281 1,200,000 937 99

26 THE CALROSE 1,238 1,590,000 1,284 FH

27 SELETARIS 1,119 965,000 862 FH

27 YISHUN EMERALD 1,399 990,000 707 99

28 SERENITY PARK 1,313 1,229,500 936 FH

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singapore property weekly issue 107

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