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Subscribe to this list via RSS Blog posts tagged in buy

Posted by on in New Launches

he number of properties put up for auction increased 35.7 percent quarter-on-quarter in Q1 2015 to 175 units, of which residential properties accounted for 70.3 percent, revealed a Knight Frank report.

The number of residential units put up for auction jumped 43 percent quarter-on-quarter to 123 units in the first quarter, crossing the 100-unit mark for the first time since Q4 2010 when 101 residential properties were placed under the hammer.

“Persistently weak sentiment stemming from the property cooling measures on the residential sector, coupled with the Total Debt Servicing Ratio (TDSR) and the softening of the leasing market contributed to the residential sector forming the bulk of total auction listings in Q1 2015,” said Sharon Lee, director & head of auctions at Knight Frank Singapore.

The report stated that the number of properties successfully auctioned soared 57.1 percent quarter-on-quarter to 11 properties in Q1. The residential sector led the other sectors, selling nine of the 54 mortgagee sale properties available for auction.

Meanwhile, the total auction sales value surged 161.2 percent from last year to $35.8 million in Q1 2015. Residential sales dominated the market with a total value of $20.4 million.

All residential properties sold at auctions in the three-month period were under mortgagee listings.

Looking ahead, Knight Frank expects more residential units to be placed on the auction block given that demand in the secondary market has been relatively weak in the past few quarters, which could result in more mortgage defaults.

As such, buyers are expected to take advantage of the lacklustre sentiment and actively participate in auctions, while sourcing for potential value-buys at these auctions. In fact, they will be spoilt for choice with the potential rise in properties offered for auction.

Among those listed on Knight Frank’s upcoming auction on 28 April are two-storey semi-detached homes at 28 One Tree Hill Road and 27 Jalan Arnap in district 10; and a four-plus-one bedroom apartment at #13-02 Leonie Gardens in District 9.


Taken Property Guru

Tagged in: buy Private property
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It's the first Europe-based portfolio.

IREIT Global, Singapore's first pure-play REIT with freehold office assets in Germany has registered its final prospectus in the SGX Mainboard late yesterday.

In a release, financial consultancy group Citigate reveals that the IPO is projected to yield 8.0% for year 2015 and the initial portfolio of four freehold properties in Germany are valued at approximately $478.3 million.

Strategically located in the key German cities of Bonn, Darmstadt, Münster and Munich, the area is measured to be 121,506 sq m with 2,945 car park spaces.

Here's more from Citigate:

Mr. Itzhak Sella, Founder and Chief Executive Officer ("CEO") of the Manager, said: "We are deeply enthused by the strong response from investors to our IPO, which is a reflection of the market's interest and confidence in our Europe-centric asset office investment strategy. IREIT will give the investing community a unique opportunity to participate in the growth and strength of Germany's economy, the largest economy in the Eurozone."

Ms. Adina Cooper, Chief Investment Officer ("CIO") and Asset Manager of the Manager, said: "With an initial portfolio comprising well-connected and quality freehold office properties in 4 key German cities with a strong tenant base and long WALE, we believe that IREIT offers an attractive investment opportunity with strong organic growth opportunities from potential rental uplifts via German CPI-linked rental adjustments."

Credits: Singapore Business Review


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4 price drops in a row.

Another proof that the government's cooling measures are getting effective has come. Resale flat prices drop to its lowest point in 2 years and has been dropping for 4 consecutive quarters in a row.

A PropNex analysis said that the HDB resale market continued to cool in Q2 2014; this is also the fourth consecutive quarter of price drops.

According to HDB's full quarterly data released today, resale flat prices fell 1.4 per cent to 195.7 points — the lowest in 2 years. For the first 2 quarters of 2014, the fall of 3 per cent has already eclipsed the 0.6 per cent registered in the entire 2013, and this sets the stage for further price falls in the year.

Here's more from PropNex:

The various measures, including loan curbs and the strong supply of new flats, continue to weigh down on demand, which brought about the sustained price decline.

The falling resale prices can be due to the potent combination of the government's measures to cool the public housing market such as, reducing the Mortgage Servicing Ratio (MSR) cap of 30 per cent and the maximum loan term of 25 years for HDB mortgage loans, three-year wait for new PRs before they can buy resale HDB flats, and allowing singles to buy two-room BTO flats in non-mature estates.

Thus, these measures work in tandem to reduce the resale demand. The recent HDB's change to the valuation procedure has also created a more cautious approach from buyers, as they are more careful when giving an offer for a particular flat.

"Buyers are more conservative in their offers; for fear that the valuation is unable to match the price that they are offering. So when the owner accepts a lower offer, a lower transacted price will be registered. We foresee this trend to continue for the rest of the year." But primarily, the main reason behind the slowdown in market activity is attributed to the income cap on how much buyers can borrow to pay off their mortgage. With smaller loans, some buyers can no longer afford to upgrade to larger flats.

Credits: Singapore Business Review

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The acquisition is finally complete.

The Ascott Residence Trust Management Limited announced on Friday that it has completed its acquisition of Wangze Dalian Enterprise Co. Limited.

Wangze Dalian owns a serviced residence property located at 128-2 Jinma Road, Dalian Development Area, Dalian, China.

"Ascott Residence Trust Management Limited, as manager of Ascott Residence Trust refers to its announcement made on 20 February 2014 in relation to the acquisition of the entire interest in Wangze (Dalian) Enterprise Co., Limited which in turn owns a serviced residence property located at 128-2 Jinma Road, Dalian Development Area, Dalian, the People's Republic of China.
The Manager wishes to announce that the acquisition of Wangze Dalian was completed today.
Following the Completion, Wangze Dalian has become a wholly-owned subsidiary of Ascott REIT."

Credits: Singapore Business Review

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It's a record sale since TDSR was enforced.

Developers may be popping the champagne tonight in their offices as 1,470 homes were sold in May, representing a whopping 97% rebound from April's dreary sales volume.

According to Colliers director of Research and Advisory Chia Siew Chuin, this is the first time that developers sold over 1,000 units in a month for 2014. "It is also the highest monthly sales volume achieved since the imposition of TDSR in June 2013," she said.

She added that some developers were able to overcome the lag in buying momentum by lowering the prices of their projects which were already on the market.

But sales volume is expected to ease again in June, as it is a traditional lull period.

Here's more from Colliers:

Developers who stepped up on their launches ahead of the June school holidays were rewarded, as new project launches were generally met with healthy response.

For instance, Wheelock Properties sold another 100 units at The Panorama at a median price of $1,241 per sq ft, after it reduced prices by some 8% from a median price of $1,343 per sq ft achieved at its launch in January 2014.

CapitaLand also sold another 15 units at Sky Habitat at a median price of $1,336 per sq ft, after moving some 80 units at a median price of $1,377 per sq ft in April 2014.

The prices at Sky Habitat were reduced from a median price of $ 1,583 per sq ft achieved for the 131 units sold at its launch in April 2012.

Encouraged by the healthy interest seen in May 2014, developers may continue to launch projects ahead of the lunar seventh month (largely regarded by the Chinese as an inauspicious period to commit to home purchases), which falls in August this year.

Primary market sales volume is expected to ease to the region of 600-900 units in June as developers concentrate on gathering potential buying interest and moving previously launched projects before embarking on official launches for their new projects closer to July.

Credits: Singapore Business Review

Tagged in: buy Slide
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Prices hit new low since December 2012.

A report released today by the Singapore Real Estate Exchange revealed that only an estimated 421 private residential resale transactions were registered in the month of May.

This shows a 42.6% drop in resale volume compared to 734 units resold in May 2013. On a month-on-month basis, resale volume registered a 7.5% decrease.

Overall resale prices of non-landed private homes slipped also slipped 0.3% in the past month, remaining a 17-month low since December 2012.

On a regional basis, prices in Core Central Region (CCR) led the fall by dropping 2.9%, followed by a 0.3% drop in Outside Central Region (OCR). However, prices in Rest of Central Region (RCR) inched up by 0.6%.

Credits: Singapore Business Review

Tagged in: buy
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Prices slashed by 11%-16%.

Developers are resorting to discounts to woo price-sensitive buyers as revealed in April's home sales data. According to Barclays, in April, CapitaLand relaunched its 509-unit Sky Habitat at prices 11%-16% lower than its initial launch in April 2012. They sold 130 units in April, which brings total sales to 312 units out of 509 units, or 61%. According to The Straits Times, another project, The Panorama, will be relaunched at S$1,100-1,340psf, up to 14% lower than its January 2014 launch prices of S$1,234-1,591psf. Luxury home sales remain anaemic with the highest-priced unit at S$2,592psf. We estimate some 14 units were returned in April, lower than the 38 units in March.

Credits: Singapore Business Review

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Offer price increased by 5.9%.

CapitaLand vows to win CMA's nod as it raises its bid for the planned takeover. In a release, CapitaLand announced that it has increased its offer price by 5.9% to S$2.35 per share. This final offer price takes into account the opinion stated in the Letter from the Independent Financial Advisor to the Independent Directors of CMA in regard to the offer. CMA shareholders who have earlier accepted the offer will be entitled to receive the Final Offer Price.

Credits: Singapore Business Review

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Top performer sold 210 units.

With only two new projects launched, buying activity rebounded in April after a slump in the previous month. According to PropNex, 210 units of Lakeville were taken up at a median price of $1,318 psf—making it the best-selling project for the month. The next best-selling project was the recently re-launched Sky Habitat, where 130 units were sold at a median price of $1,377 psf. The Sorrento also performed well with 125 units sold at a median price of $1,414 psf. Finally, The Santorini rounded off the top four with 23 units sold at a median price of $1,124 psf.

Credits: Singapore Business Review

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Posted by on in Resale

Sales of new private homes surpassed the number of units launched in February 2014, a sign that developers are pushing back new launches while focusing more on selling existing developments.

Based on URA data, developer sales increased by about 28 percent to 724 units in February. Including executive condominiums (ECs), 769 units were taken up last month compared to the 610 previously. In total, 671 homes were launched in February from 549 in January.

“The sales volume for February provided more evidence of developers holding back new launches, and instead concentrating their efforts on marketing existing projects,” said Desmond Sim, Head of Research at CBRE Singapore.

Existing projects which recorded sales in the month included Jewel @ Buangkok which moved 15 units, Bartley Ridge (17 units) and La Fiesta (23 units).

Chia Siew Chuin, Director of Research & Advisory at Colliers International, also had similar views. “While no new projects were launched in the Rest of Central Region (RCR) and Core Central Region (CCR), developers gradually released units from previously launched projects in these two market segments.”

Only 20 apartments from the 120-unit Whitehaven in the RCR were made available for sale, while 25 units from Liv on Wilkie andHallmark Residences in the CCR were released, noted Chia. However, developers sold 49 units in the central region and 87 in the city-fringe. 

In the Outside Central Region (OCR), 588 units were sold mainly from two new projects in Sengkang – RiverTrees Residences andRiverbank @ Fernvale. The former moved 218 of the 300 units launched, while its adjacent rival found buyers for 211 out of 250 units released. 

JLL has revealed that both these projects have the potential to release another 500 units in the next few months. Despite this, the sales volume for Q1 2014 is expected to fall by around 30 percent quarter-on-quarter, added CBRE.

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With Singapore being named the world's most expensive city, the Straits Times has published a comparative study on the five big ticket items which contributed to the ranking.

The Straits Times report compared the prices of these items with those of a similar standard in five different developed nations.

The following are the items and the price comparisons:

Property rental

A three-bedroom apartment of between 1,200 and 1,500 sq ft averages S$8,000 (RM20,700) a month in Singapore.

In New York, a three-bedroom apartment of between 950 and 1,800 sq ft ranges from US$1,750 (S$2,221, RM5,700) to US$2,500 in the outlying neighbourhoods and US$6,000 to US$15,000 in Manhattan.

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Posted by on in Trends

ERA Network, Singapore’s largest real estate agency, has partnered with Australian firm Auswell to offer Singaporeans an “enhanced buying experience” when they are considering Australian property purchases and investments.

The partnership, which came into effect late last year, has already seen benefits with ERA and Auswell marketing three Australian apartment developments to Singapore property buyers and investors.

Marvin Lee, Marketing Director for ERA, told PropertyGuru: “We are working together to bring more products into the market.”

Lee explained that his agents have already benefited from training and guidance from its new partner, both in Australia and in Singapore.

“Prior to every product launch in Singapore Auswell train my agents on product knowledge and regulations associated with sellingAustralian properties, and this further strengthens our confidence because of their commitment to bring only the best buying experience for our purchasers,” he said.

“Some feedback from buyers is that we are more credible due to our association with Auswell, which is operating from Melbourne itself.”

Another benefit for Singapore buyers is the partnership allows access to Melbourne project launches as they happen.

Lee said: “One of the most appealing benefits is that ERA is able to bring in new products as they are launched in Australia. We have had feedback from seminar attendees that they realise that many are selling products that have been in the market for some time, or that they are able to select from the remaining 5-20 percent balance units.”

Philip Tan, Director of Auswell, told PropertyGuru: “We house a one-stop services platform that delivers marketing and leasing, property management and the future re-sales market that is much needed. We get our stocks fresh from developers and manage all reservations and paperwork support for our partner in Singapore.”

Taken from PropertyGuru

Tagged in: buy Land Costs Vietnam
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Posted by on in Trends

EXCLUSIVE: The was a distinct buzz at SP Setia’s Fulton Lane Melbourne property exhibition in Singapore last weekend, even though Steve Tan, Manager of Sales and Marketing for the developer was expecting a little better.

He told PropertyGuru: “I think a lot of potential buyers of overseas property will wait until after Chinese New Year.”

The development (pictured), which was holding the launch of its final phase, is now 90 percent sold. One attraction, Tan said, was the hassle-free investment which comes fully-furnished.

“Another attraction is that the development is just months from completion, so were seeing some people buying for their children to stay when they study there, he added.”

Australian property has also seen a surge in popularity, which Tan puts down in part of the weakness of the Australian dollar.

“I expect interest in Melbourne property especially to continue to increase over the next year,” he added.

Taken from Property Guru

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Posted by on in HDB

In order to meet the high demand from singles, the housing board on Monday announced that it will ramp up the supply of two-room Build-to-Order (BTO) flats in non-mature estates to 5,000 units by 2014 from just 2,600 this year. 

Moreover, unsold two-room flats from previous BTO exercises that were set aside for families will be offered to singles due to unmet demand. 

“For example, in the July 2013 BTO exercise, 34 percent and 51 percent of the two-room flats offered in Sengkang and Yishun respectively were booked by singles. These proportions are higher than the quota of 30 percent,” said HDB. 

It also plans to cut the supply of new three-room and larger flats by 18 percent from 22,600 units in 2013 to around 18,600 by 2014. Despite this, the planned supply of larger flats surpasses the estimated 15,000 new Singaporean family formations next year. 

“This (move) is timely as the supply and demand for BTO flats by families has achieved a better balance,” noted HDB, adding that it will also provide 700 studio apartments for seniors looking to right-size their homes. 

In total, HDB will offer 24,300 flats next year, down from the 25,100 in 2013. 

Meanwhile, data shows that BTO application rates among families have fallen, with the average first-timer application rate slipping to 1.7 times in 2013, average second-timer application rate falling to 7.1 times, while the average BTO application rate eased to 3.0 times from 5.3 times in 2010.

Nevertheless, HDB will continue to prioritise families, allocating at least 70 percent of the flats in each non-mature estate project for them


Taken from PropertyGuru

Tagged in: buy Private Seniors
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SINGAPORE: Duo Residences located in Bugis has received strong demand to its preview.

The preview launch for the 660-unit residential development started on Wednesday.

And by 3pm on Friday, more than 85 per cent of the 540 units released in Phase one had been sold.

The project is part of the Duo integrated development by M+S, a joint venture between Temasek Holdings and Khazanah Nasional.

The developer had priced the project at an average price of $2,000 per square foot, with over $2,600 per square foot for a studio apartment.

Singaporeans accounted for 78 per cent of the buyers, Malaysians (16 per cent) and other nationalities (6 per cent).

Kemmy Tan, Chief Operating Officer at M+S, said: "This clearly demonstrates that they appreciate the unique opportunity that this development offers, including iconic architecture, integrated offerings, connectivity with two MRT lines serving the development. There is no comparable development in this area." 

- CNA/de

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