singapore property weekly issue 27

8/3/2019 Singapore Property Weekly Issue 27

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CONTENTSp2 Singapore Property News This Week

p6 Taking the Road Less Travelled – Part Two

p12 Resale Property Transactions

(November 5 – November 11)

p14 Singapore Property Classifieds #17

Welcome to the 27th edition

of the Singapore Property

Weekly .

Hope you like it!

Mr. Propwise

FROM THE

EDITOR

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SINGAPORE PROPERTY WEEKLY Issue 27

Singapore Property This Week

Page | 2Back to Contents

Residential

Sale prices at a new high for The Marq on

Patterson Hill

The freehold project which consists of two 24-

storey towers with a total of 66 units kept

breaking record prices since May this year. In

May, a 3,003-sq-ft, four-bedroom apartment inthe Premier Tower in The Marq on Patterson

Hill sold for a record price of $5,842 psf, this

was broken in August with a new record of

$6,394 psf, which was in turn broken by the

$6,850 psf paid in the recent transaction.

Despite the high prices, the luxury apartment

market is slow compared to 2007.

Singaporeans are more likely to purchase

Good Class Bungalows (GCBs) which costs

around the same. Foreigners who are not

qualified to buy GCBs turn to luxurycondominiums instead. While foreigners are

still interested in purchasing property in

Singapore, the uncertain global economy

results in a higher demand for value buys or

fire sales, which are harder to find in

Singapore. SC Global, the developer, hasbeen able to set record high prices because of

the attention it paid to the quality, design and

concept of its developments.

Queues for showflat even before official

launch of Bedok ResidencesThe 99-year leasehold Bedok Residences

consisting of 583 one, one-plus- study, two,

three, and four-bedroom apartments and





penthouses has attracted a queue of more

than 400 people at its showflat even a day

before its official launch. The project located

at Bedok Town Centre will be integrated with ashopping mall and a transportation hub linked

to Bedok MRT station. While prices have yet

to be finalised, they could range from $1,250

per square foot (psf) for the smaller units to

$1,150 psf for larger units. Demand is

expected to be high, with its good location andintegration with amenities like a shopping mall

and a transport hub.

Far East SOHO to preview the 103-year

leasehold The Scotts Tower

The first project to be launched under the FarEast SOHO brand of Far East Organisation,

the 231-unit The Scotts Tower located at

Scotts Road consists of 624 sq ft to 904 sq ft

one- and two-bedrooms units as well as larger

three-bedroom units and four-bedroom

penthouses. Prices for the units in the 13-

storey tower will start from about $3,200 psf.While this is the first small office, home office

(SoHo) under the Far East SOHO Brand, Far

East have sold more than 1,000 SoHo

apartments since 2004 in its other

developments such as Central, The Tennery

and The Cape.

Top foreign homebuyers in Q3 – Mainland

Chinese

Mainland Chinese (including PRs) were the

top buyers of private homes in Singapore in

Q3, accounting for 30.6% of the transactionsin Q3. This is due to the property cooling

measures in China, which led them to turn to

overseas markets for property purchases.





Singapore with its good environment, well

developed infrastructure and education

system as well as its large Chinese population

proves attractive to the Chinese. Chinese

buyers were particularly keen on homes in the

east, which made up 21.7% of their total

purchases. Generally foreign purchases rose

even as the total number of sales decreased,

and this may lead to governmental measures

limiting foreign purchases.

HDB offers 4,200 new BTO flats, 95%

reserved for first-timers

Seven build-to-order (BTO) projects are

launched by HDB, with 95% of the 4,200 new

flats (excluding the studio apartments) going

to first-timers. These projects include Acacia

Breeze @ Yishun; Fajar Spring in Bukit

Panjang; Golden Cassia in Bedok; Hougang

Capeview and Hougang Dewcourt in

Hougang; and Waterway Banks and

Waterway Ridges in Punggol. The two

Punggol projects which offers a scenic view

being located near a waterway is are

expected to be the most popular. There will be

a further launch of 25,000 BTO units in 2012,

with 3,890 new flats being offered for sale in

Choa Chu Kang, Punggol, Sengkang and

Tampines in January next year.

99-year leasehold residential site atChestnut Avenue draws a top bid of $180m

The highest bid of $180 million or $426 psf

ppr for the 201,278 sq ft site with a maximum

permissible gross floor area (GFA) of 422,688

sq ft came from SP International (S) Pte Ltd.

Analysts expected the high number of bids

given the high interest in the Foresque

Residences site last year, and its location in

Bukit Timah area.





Commercial

Good response expected for new 99-year

leasehold Sengkang commercial site

HDB has launched a 94,618 sq ft commercial

site with corner frontage along Sengkang

West Avenue and Fernvale Road. The site

has a maximum plot ratio of 3.0, about a

maximum allowable gross floor area (GFA) of

283,854 sq ft. Located near the Fernvale LRTStation, Tampines Expressway (TPE) and

Central Expressway (CTE), it is expected to

draw good response from developers since

supply for sub-urban malls is limited. Bids are

estimated at $800 psf ppr, since it is mainly

for retail use rather than for mixed retail-residential use which would draw higher

prices. The price also reflects competition

from nearby malls.

http://www.moneymatters.sg/





Taking the Road Less Travelled – Part Two

by Mr. Propwise

This is Part Two of an interview with Getty

Goh on his tips for investing in overseas

property, and his experiences developing an

overseas property project. In Part Two we

ask Getty which countries have the most

upside for property investors, how to finddeals, how much capital you need to invest

overseas, and his experience developing

property overseas.

Getty is the author of two real estate

bestsellers (Buy, Bye Property: Mistakes you

want to Avoid in Property Investing and Buy

Right Property: the R.I.G.H.T. Approach to

Property Investing in Singapore), as well as

the Director of Ascendant Assets Pte Ltd,

SINGAPORE PROPERTY WEEKLY I 27





a real estate research and investment

consultancy based in Singapore. With his

latest foray into Krabi, Thailand, Getty is

adding development to his real estate CV.

Getty has an MSc in Real Estate and a BSc in

Building from the National University of

Singapore.

Which countries should overseas property

investors look at? Which have the best

potential upside?

Different countries present different

opportunities and challenges. Even within a

single country, different locations present

different investment potential. For example, in

big countries like the US, places like New York(in the East Coast) present different

opportunities as compared to places like San

Francisco (in the West Coast). Even in smaller

countries like Malaysia, opportunities in Kuala

Lumpur are very different from Penang or

Johor. So it is really not possible to pinpoint a

particular place that has the best upside.

A location I would have considered had you

asked me this question several months earlier

is Bangkok, Thailand. After the Pheu Thai

party won the Jul 2011 election with a

landslide victory, the political outlook seemed

to be stabilising and investor optimism was

quite apparent. Unfortunately, the flooding ofsome parts of Thailand, including Bangkok,

could not have come at a worse time. Apart

from economic impact from the flood

damages, investor sentiments are not very

positive as many believe that Thailand’s

flooding issue is a massive problem thatcannot be quickly resolved.

However, some investors may adopt a

contrarian view and think that now is the

SINGAPORE PROPERTY WEEKLY I 27





perfect time to enter the Bangkok property

market. With everybody staying at the

sidelines, there are indeed some extremely

good deals around. I must qualify that this

strategy is not for everyone. However, if youhave cash to spare and have a long

investment horizon of between 5 to 10 years,

this strategy may be a viable one for you.

What are the ways an investor can find

overseas property investment deals?

As an investor myself, I have tried looking for

properties in Malaysia, Bangkok and even in

the US before. Avenues that investors can try

are property exhibitions, property portals or

magazines. If you flip the papers, you will seenumerous overseas property exhibitions and I

reckon that all of these are good starting

points.

However, I will not stop there and will go a step

further to travel to places where I want to buy a

property to check out the market there

personally. When it comes to property

investing, the phrase “information is power” is

absolutely true. The more you know, the better

your decisions are. So if you want to make

money from property, whether it is local or

overseas, just do what you can to learn as

much as possible.

How much capital do you need to have toinvest overseas?

It depends on where you are looking and what

you wish to buy. I have come across a

particular development in Malaysia that was

truly no money down . Purchasers were able toget up to 90% loan while the remaining 10%

came in the form of a developer’s discount. On

top of that, that developer still gave a

guaranteed rental to sweeten the deal further.






Before you get excited and call your property

agents to find out which development that is, I

must qualify that each unit costs more than

RM$5 million. This high price tag is enough to

put a lot of average investors off as the

monthly repayment would be quite hefty.

Nonetheless, overseas property is generally

not as expensive as Singapore properties; with

a start-up capital of between S$50,000 and

S$100,000, you should be able to find

something. The size and profitability quotient

would really depend on which country you

decide to invest in.

Why did you decide to develop propertyoverseas?

The decision to develop property overseas

stems from various factors. Primarily, I have

always wanted to own properties abroad to get

away from the hustle and bustle of city life.

Singapore is within three hours flight time to

many popular destinations e.g. Bali, Bangkok,

and Phuket, hence it is extremely convenient

for people living in Singapore to make a quick

weekend getaway to one of these travel

locations.

Apart from my desire to own an overseas

property, another reason that pushed me to

look into overseas development was the lack

of investment opportunities in Singapore. As I

shared earlier, I really believe there are

presently limited investment opportunities in

Singapore with the anti-speculation measuresand high land prices. I wanted to keep growing

my money, hence after doing much research, I

figured that it would make sense to venture

overseas.






What sort of obstacles did you have to

overcome when doing an overseas

property development?

Almost anything can pose as an obstacle to

the development. Obstacles can come in the

form of weather, soil conditions, legal issues,

financial challenges, design complications,

finding buyers, government policies,

environmental impact, etc.

The job of any developer is to overcome these

obstacles and to make sure that the project isof as high a standard as possible, while

remaining within budget and within the

deadline. While it may seem fairly

straightforward, it is actually very challenging

to juggle the numerous aspects of the

development all at once.

For me, it is an extremely humbling and

enlightening experience. Ultimately, I now have

much greater respect for those who have the

courage and ability to do it.


http://www.propwise.sg/secretsofsingaporepropertygurus/






http://www.property-investment-singapore.com/p6





Non-Landed Residential Resale Property Transactions for the Week of Nov 5 – Nov 11

Postal

DistrictProject Name

Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

1 PEOPLE'S PARK COMPLEX 1,119 950,000 849 99

1 PEOPLE'S PARK COMPLEX 1,119 870,000 777 992 ICON 560 1,068,000 1,908 99

2 INTERNATIONAL PLAZA 1,496 1,350,000 902 99

3 QUEENS 1,195 1,480,000 1,239 99

3 THE ANCHORAGE 1,378 1,550,000 1,125 FH

4 THE COAST AT SENTOSA COVE 2,024 4,149,200 2,050 99

5 THE MAYLEA 1,227 1,530,000 1,247 FH

5 HERITAGE VIEW 969 1,060,000 1,094 99

5 HERITAGE VIEW 1,195 1,300,000 1,088 99

5 VILLA DE WEST 947 870,000 918 FH8 OXFORD SUITES 678 900,888 1,328 FH

8 KERRISDALE 2,379 2,282,880 960 99

9 CAIRNHILL RESIDENCES 904 2,100,000 2,323 FH

9 THE COSMOPOLITAN 1,324 2,800,000 2,115 FH

9 RIVERGATE 1,023 2,138,000 2,091 FH

9 VISIONCREST 947 1,720,000 1,816 FH

9 TIARA 893 1,580,000 1,769 FH

9 ASPEN HEIGHTS 2,691 3,560,000 1,323 999

10 ARDMORE PARK 2,885 8,300,000 2,877 FH

10 THE HORIZON 1,722 2,710,000 1,574 FH

10 THE CORNWALL 1,701 2,100,000 1,235 FH

11 PARK INFINIA AT WEE NAM 1,335 2 ,250,000 1,686 FH

11 SHELFORD SUITES 1,270 2,040,000 1,606 FH

11 EVELYN MANSIONS 861 1,270,000 1,475 FH

Postal


Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

11 ADAM PARK CONDOMINIUM 958 1,405,000 1,467 FH

11 ADAM PARK CONDOMINIUM 958 1,318,000 1,376 FH11 AMANINDA 1,270 1,730,000 1,362 FH

11 THOMSON 800 1,625 1,900,000 1,169 FH

11 THE ARCADIA 3,810 3,900,000 1,023 99

11 THE TREVOSE 3,627 3,200,000 882 99

12 THE CENTRIO 980 1,385,000 1,414 FH

12 TRELLIS TOWERS 1,647 1,785,000 1,084 FH

14 LE REVE 786 857,000 1,091 FH

14 THE WATERINA 1,356 1,440,000 1,062 FH

14 LE CRESCENDO 947 947,000 1,000 FH14 THE SUNNY SPRING 1,044 880,000 843 FH

14 SUNFLOWER MANSIONS 893 730,000 817 FH

14 WINDY HEIGHTS 2,476 2,010,000 812 FH

14 ASTON MANSIONS 1,012 811,000 802 99

14 GOODVIEW APARTMENTS 1,292 790,000 612 FH

15 EASTERN LAGOON 893 1,070,000 1,198 FH

15 HAIG COURT 1,550 1,728,800 1,115 FH

15 SUNSHINE REGENCY 764 820,000 1,073 FH

15 EMERY POINT 1,324 1,360,008 1,027 FH

15 KATONG PLAZA 1,528 1,450,000 949 FH

15 CASUARINA COVE 1,389 1,300,000 936 99

15 NEPTUNE COURT 1,636 1,380,000 843 99

15 LIVINGSTON MANSIONS 2,034 1,430,000 703 FH

16 EASTWOOD REGENCY 452 668,888 1,480 FH






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

16 RIVIERA RESIDENCES 1,453 1,600,000 1,101 FH

16 TANAMERA CREST 861 830,888 965 99

16 FAIRMOUNT CONDOMINIUM 926 860,000 929 99

16 BAYSHORE PARK 2,196 1,930,000 879 99

17 BALLOTA PARK CONDOMINIUM 1,701 1,230,000 723 FH17 BLUWATERS 2,626 1,500,000 571 946

18 TROPICAL SPRING 1,335 1,200,000 899 99

18 EASTPOINT GREEN 958 843,000 880 99

18 THE TROPICA 1,238 1,080,000 872 99

18 CHANGI RISE CONDOMINIUM 1,130 890,000 787 99

18 THE TROPICA 1,722 1,300,000 755 99

19 CHERRYHILL 1,539 1,340,000 871 FH

19 THE SUNSHINE 2,034 1,700,000 836 FH

19 KENSINGTON PARK CONDOMINIUM 1,647 1,270,000 771 99920 GOLDENHILL PARK CONDOMINIUM 1,313 1,300,000 990 FH

20 THE GARDENS AT BISHAN 883 850,000 963 99

20 BISHAN 8 1,184 1,100,000 929 99

21 CAVENDISH PARK 1,227 1,350,000 1,100 99

22 PARC OASIS 1,389 1,100,000 792 99

22 THE MAYFAIR 1,163 915,000 787 99

22 IVORY HEIGHTS 1,701 1,050,000 617 100

26 SEASONS PARK 1,249 1,005,000 805 99

27 EUPHONY GARDENS 883 690,000 782 99





Singapore Property Classifieds #17

For Sale



HDB Beo Crescent @ Tiong Bahru, 3 'S'Blk 24, high floor, well kept, lift floor, nextto corner. 5 mins to MRT. Call Pearly @96838120

Bliss Residences @ Kembangan. FH1500+sf 3+1BR Penthouse. Only$1000psf. 1 min to MRT, 15 min to CBD.Rooftop pool and BBQ. TK Tan 98206228.

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singapore property weekly issue 27

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