singapore property weekly issue 195

8/9/2019 Singapore Property Weekly Issue 195

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Issue 195Copyright © 2011-2014 www.Propwise.sg. All Rights Reserved.

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CONTENTS

p2 3 Tips to Keep in Mind When Asking

For Property Advice

p7 Singapore Property News This Week

p12 Resale Property Transactions

(January 28 – February 3 )

Welcome to the 195th edition of the

Singapore Property Weekly .

Hope you like it!

Mr. Propwise

FROM THE

EDITOR

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SINGAPORE PROPERTY WEEKLY Issue 195

Page | 2Back to Contents

By Property Soul (Guest Contributor)

At a recent Invest Carnival 'Meet the

Investment Bloggers' session, there was a

question for me from the audience during a

panel discussion. Someone asked what I dowith my money after selling four properties. It

sounded like how the media interviews lucky

winners after they win the lottery or the

Changi Millionaire contest.

3 Tips to Keep in Mind When Asking For Property Advice


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Unlike a windfall from hitting a jackpot, there

is no excitement at all. Like what some

investors say, you feel ten times more excited

the moment you find and secure a good deal

compared with the moment you profit from it.

I didn’t even consider celebrating or

rewarding myself. The profit was expected.

On the handover date of every sale, I just

made sure that my lawyer completed the sale

smoothly and deposited the cheque as

instructed.

How I invest my property profits

But wait, he was asking how I invested the

profit after selling my properties.

Frankly, I did nothing until I got the time to putit into fixed deposits in a few currencies. But

for most of it, I hold cash or assets that may

not produce any income.

The guy wouldn’t have asked this question if

he knew that everyone had different financial

goals. And my answer could be irrelevant and

misleading to him.

Every week I receive many email messages

from readers of my blog asking for property

advice. Asking for advice is an art but not

many have mastered it.

Don’t get me wrong. I often find messages

from readers sharing thoughts, exchanging

ideas or giving feedback a source of inspiration. They give bloggers like me food

for thought and the motivation to write.

But most of the time, readers seeking advice

could do it better. Below are three tips that

can help you ask the right questions.

Tip #1: Don’t copy others blindly. You

know yourself best.

If those so-called gurus are selling you an

investment opportunity,


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you should ask what they have in their

portfolio. Don’t just get the list of properties.

Find out when and at what price they bought

them. You will then have an idea whether they

are a real guru or not.

Look at what others bought but don’t copy

them blindly. What others have in their

portfolio may not be suitable for you. We all

have different levels of financial literacy,

earning ability and holding power.Similarly, what others are doing with their

money may be irrelevant to you. We are all at

different stages in our financial journey. Many

are trying to clear their debts. More are

saving to buy for the first time. Some are

accumulating wealth through aggressive

investing. Others have already achieved

financial freedom. The rest are seeking

shelter to preserve their wealth.

Don’t ask “What are you buying?” Find out

what is available and appropriate for you.

Tip #2: Don’t wait to be spoon-fed. Learn

the basics yourself.Some readers like to drop me a one liner

question like “to buy or not”, “buy now or

later”, “when can I buy”, “what is best to buy”,

“should I buy xxx”, or “what do you think

about buying property in xxx.”

I can tell you that you should buy a property

project tomorrow. But why? Why this project?

Why tomorrow?

If I give you a quick answer, you learn

nothing. It is because you are fed with fish but

you don’t know how to fish. You can onlycome back to me with more one liner

questions.


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Instead of waiting to be told what to do every

time, why don’t you learn all the basics about

property investment? It is important you

understand the reasons behind when to buy,

what to buy and how to tell a good deal from

a bad one.

Don’t ask “What do you think?” Find out the

basics and share with me what you think.

Tip #3: Don’t look for a quick fix. Learn the

skills to fix it yourself.

Do you know what annoys doctors the most?

It is when people whom they barely know

approach them and present their symptoms,

but without the full picture and their medical

history, and expect to have an immediate

diagnosis of whether they are fine or

abnormal.

Doctors know that without the full information

they have a high chance of getting it wrong. If

they say it is normal, it may turn out to be

otherwise. If they say it doesn’t look good,

they may upset the person unnecessarily.

Either way they cannot win. That is why they

always end with asking the person to go see

a specialist for a thorough check-up.

Then why ask in the first place?

Likewise, some people like to share their full

property stories and ask the experts for some

quick-and-dirty advice. But these expertsdon’t know you in person, your investment

goals, your financial ability and your risk

appetite. To be safe, they can only give you

some general advice.

So why ask in the first place?

Sometimes people have already made up

their mind. But they ask anyway to look for

confirmation or reassurance before taking the

plunge. One day if it turns out to be wrong,


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at least they have someone to blame.

Or even if they get the answer from the

experts, they still don’t know what to do.

Because they lack the knowledge to tell why

they have to choose A instead of B. Because

they lack the courage and confidence to

choose A over B.

Don’t ask “What should I do?” Find the facts

and figure out what to do for yourself.

By guest contributor Property Soul, a

successful property investor, blogger , and

author of the No B.S. Guide to Property

Investment.

SINGAPORE PROPERTY WEEKLY I 195

http://propertysoul.com/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://www.moneymatters.sg/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://propertysoul.com/


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Singapore Property This Week


Residential

GC B at Sw et t enham R oad sel l ing at $23.52

m i l l i o n

A good class bungalow (GCB) at Swettenham

Road is asking for $23.52 million or $1,543

psf based on the freehold land area of

15,293.53 sq ft. According to market experts,

this value is lower than the seller’s previous

asking price of $30 million about nine months

ago. Data that was compiled by CBRE

showed that in 2014, 28 bungalows totalling

$626.14 million changed hands in GCB

areas. This amount was lower than the $682

million that was amassed from the sale of 29

bungalows in the same area in 2013; and it

was also significantly lower than the $1.17

billion that was transacted from the sale of 54

bungalows in 2012. The average price per

GCB transaction fell by 5 percent to $22.36

million from 2013 to 2014, said CBRE. KH

Tan from Newsman Realty added that the

Total Debt Servicing Ratio framework and the

additional buyer’s stamp duty have negatively

affected demand for GCBs as these cooling

measures makes it more difficult for buyers to

finance properties.

(Source: Business Times)

SINGAPORE PROPERTY WEEKLY I 195


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SR X: resale cond o p rices f a l l by 0.2%

According to SRX Property’s flash estimates,

the overall resale price index for non-landed

private homes fell month-on-month in January

from the previous month. On the other hand,

the overall median transaction over X-value

remained at a negative $10,000. Also, the

overall resale price index for non-landed

properties fell by 0.2 percent month-on-month

in January. Eugene Lim from ERA RealEstate predicts that this downwards trend will

persist for the rest of the year. He believes

that non-landed private home resale prices

may fall by a total of 5 to 8 percent this year,

with homes in the core central region taking

the biggest hit. According to data from SRX’sflash estimates, the resale price of non-

landed private homes in the core central

region and outside central region had indeed

fallen by 1.7 percent and 1.1 percent

respectively in January from the previous

month. Nonetheless, prices in the rest of

central region had increased by 1.5 percent.

Data from URA also showed that the vacancy

rate for non-landed private homes hadincreased by 2 percent year-on-year in Q4

2014 from 2013. Nonetheless, market experts

believe that resale volumes will increase in

February, said the Business Times.

(Source: Business Times)Sit e at St urd ee R oad released f o r t ender

A 99-year private housing site at Sturdee

Road has been released for tender by URA.

The 0.6-hectare site is located near City

Square Mall and Farrer Park MRT Station. It

can be developed into a 30-storey high

project that can house 265 units. The tender

for the Sturdee Road site will close on March

24.



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Market experts predict that there will be

between three and fifteen bids. They believe

that the top bid for this site would be around

$700 psf ppr, or about $161.2 million.

Nicholas Mak from SLP International believesthat the weak residential property market may

push down bid prices. His views are echoed

by Ong Teck Hui, JLL’s national director, who

said that developers may be more cautious

due to the weak market sentiments.

Nontheless, Desmond Sim said that the site

is located in an “emerging trendy enclave.”


N ew g u i d el in es al lo w m o r e f lex i b il it y t o

d e s i g n l a n d e d h o m e s

According to the new guidelines by the URA,

home owners and developers will have

greater flexibility to design landed homes,

starting from May 11. Currently, landed

homes must follow to floor-to-floor

dimensions and basement protrusion limits

set by URA. However, with the new ruling,

home owners and developers will have

greater flexibility when it comes to the internalconfiguration of their homes. Desmond Sim

from CBRE said that this will allow home

owners to be more creative with their home

designs. Nonetheless, under the new

guidelines, three-storey homes may not be

higher than 15.5 meters in total, down from

17.7 meters. On the other hand, two-storey

homes should not be more than 12 meters

tall. This is about 2.1 meters lower than the

current standard. While this new guideline will

be applicable to all landed properties, it will

only be enforced for new erections and

reconstruction works.




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L oan eli gi bi li ty l et ter n eed ed p ri or t o

b o o k i n g H D B f l at

According to HDB, applicants of Build-to-

order (BTO) flats intend to take up loans from

HDB, will have to produce a valid HDB loan

eligibility letter when they book a flat.

Previously, potential flat buyers are only

required to produce the loan eligibility letter

when they sign the agreement for lease.

According to HDB, this new move will help

home buyers better plan their finances.

Eugene Lim from ERA Real Estate agrees

with his move as it will ensure that potential

home buyers are not overstretching their

finances. Lim also believes that this move

may encourage buyers to consider resaleflats when they find out that they qualify for a

higher loan quantum.


Commercial

F ir s t i n te gr at ed i n d u s tr ia l d ev el o p m en t

l a u n c h e d b y J T C

JTC recently launched JTC Space @ Tuas,the first integrated industrial development in

Singapore. The development consists of

different factory space types and supporting

facilities, to cater to firms in the oil and gas;

precision engineering and general

manufacturing industries. The 10-storeydevelopment is about 6.4 hectares large and

has a total of 128,000 sqm of industrial

space. The integrated industrial development

also has an on-site dormitory that can house

1,300 workers. Not only so, the development

will include facilities such as a supermarketand retail outlets. Lim Hng Kiang, Minister for

Trade and Industry believes that such a

development will improve the productivity of



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firms and their manufacturing process.


B i ds f or W o od lan d s EC s i te l o wer t han

expected

An EC site at Woodlands has attracted bids

that are lower than expected, according to the

Business Times. The site was won by a top

bid of $277.98 psf ppr. According to Ong Teck

Hui from JLL, the slow EC sales may have

dampened developers’ sentiments. To remain

competitive in spite of lower demands for EC

units, developers may have to bid more

conservatively, said Ong. According to the

Business Times, the Woodlands EC site will

be developed into a 300-unit project. Nicholas

Mak from SLP International believes that the

developer’s breakeven cost will be between

$600 and $640 psf.


Sin g ap o re lead s A s ia Pacific’s o f f i c e

grow t h in 2014

According to JLL, Singapore has one of the

strongest growths in Asia’s office rental

market, as the nation experienced an

increase of 14.9 percent in 2014 from 2013.

Last year, Singapore is the third most

expensive locality, after Hong Kong and

Beijing, said the Business Times.

Nonetheless, JLL predicts that rental growth

will fall by H2 this year as the supply of office

spaces increases. Growth in the office rental

market slowed to 0.9 percent in Q4 last year,

compared with 3.5 percent in Q3, said JLL.

Nonetheless, rising operating costs and a

weakened demand for retail sales is expectedto affect office rents.




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Non-Landed Residential Resale Property Transactions for the Week of Jan 28 – Feb 3

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 a purchasersigns an OTP, hence the lagged nature of the data.

Postal

DistrictProject Name

Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

1 MARINA BAY SUITES 2,067 4,450,000 2,153 99

2 THE BEACON 1,109 1,525,000 1,375 994 THE COAST AT SENTOSA COVE 2,626 3,125,000 1,190 99

4 THE PEARL @ MOUNT FABER 2,347 2 ,388,000 1,018 99

5 REGENT PARK 807 869,800 1,077 99

5 DOVER PARKVIEW 936 960,000 1,025 99

8 KERRISDALE 990 1,190,000 1,202 99

9 HILLTOPS 1,335 4,200,000 3,147 FH

9 CAIRNHILL RESIDENCES 1,238 2,750,000 2,222 FH

9 SCOTTS 28 1,098 2,250,900 2,050 FH

9 THE COSMOPOLITAN 1,399 2,658,100 1,900 FH

10 CUSCADEN RESIDENCES 1,485 3,150,000 2,121 FH

10 CUSCADEN RESIDENCES 1,496 3,000,000 2,005 FH

10 PARVIS 1,991 3,900,000 1,958 FH

10 D' DALVEY 958 1,450,000 1,514 FH

11 RESIDENCES @ EVELYN 2,250 3,900,000 1,734 FH

11 NOVENA LODGE 872 1,130,000 1,296 FH

11 WATTEN ESTATE CONDOMINIUM 1,001 1,201,200 1,200 FH

11 PAVILION 11 4,219 4,980,000 1,180 FH

12 VETRO 614 755,000 1,231 999

12 OLEANDER TOWERS 1,152 1,100,000 955 99

13 AVON PARK 1,281 1,600,000 1,249 FH

14 SUITES @ SIMS 377 615,000 1,632 FH

14 WATERBANK AT DAKOTA 883 1,380,000 1,563 99

14 STARVILLE 1,238 1,220,000 986 FH

15 THE SHORE RESIDENCES 893 1,370,000 1,533 103

Postal

DistrictProject Name

Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

15 THE WATERSIDE 2,400 3,380,000 1,408 FH

15 PEBBLE BAY 2,626 3,650,000 1,390 9915 VERSILIA ON HAIG 1,227 1,528,800 1,246 FH

15 FINLAND GARDENS 1,324 1,588,800 1,200 FH

15 PEBBLE BAY 1,808 1,930,000 1,067 99

15 MANDARIN GARDEN CONDOMINIUM 1,572 1,380,000 878 99

16 EAST MEADOWS 1,195 1,130,000 946 99

18 THE TROPICA 990 828,000 836 99

19 GLASGOW RESIDENCE 463 660,000 1,426 999

19 RESIDENCES @ JANSEN 1,615 1,285,000 796 999

19 RIVERVALE CREST 1,442 980,000 679 99

19 N.A. 1,722 910,000 528 103

20 GOLDENHILL PARK CONDOMINIUM 1,539 2,030,000 1,319 FH

20 RAFFLESIA CONDOMINIUM 1,302 1,400,000 1,075 99

21 THE CASCADIA 883 1,430,000 1,620 FH

21 THE CASCADIA 990 1,550,000 1,565 FH

21 CHARISMA VIEW 657 770,000 1,173 FH

21 CLEMENTI PARK 1,163 1,120,000 963 FH

23 HILLINGTON GREEN 990 1,040,000 1,050 999

23 THE WARREN 1,259 1,068,000 848 99

23 MI CASA 1,259 1,050,000 834 99

23 NORTHVALE 1,087 810,000 745 99



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