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Chinese developer Qingjian Realty conducted a re-balloting exercise for 10 units at its fully-sold Bellewaters executive condominium (EC) in Sengkang last Saturday (8 April).

The 651-unit project comprises three- to five-bedroom units with sizes ranging from 926 sq ft to 1,528 sq ft. It is expected to be completed by this quarter.

PropertyGuru understands that a mix of unit types were resold and demand was particularly strong. “The ballot units were more than four times oversubscribed with a total of 43 applications,” said Yen Chong, Deputy General Manager at Qingjian Realty.

“These units became available when the original buyers did not meet the eligibility requirements (of the Housing and Development Board) for an EC purchase,” she noted, without going into specific details.

One industry expert who chose to remain anonymous, said that in such cases, a change in family nucleus is the main contributing factor. This could be due to the breakup of an engagement, divorce or death of a family member, with the first two scenarios being the most common reasons. Thus, they must pay a five percent cancellation fee, down from 20 percent in 2013.

Calling it a common issue faced by EC developers, the source added: “The developer will have to actively re-market such units to avoid incurring the Additional Buyer’s Stamp Duty (ABSD).”

Under the ABSD rules introduced in December 2011, developers must build and sell all units at their projects within five years of acquiring the sites. Failure to do so will incur a 10 percent levy on the land price, plus a five percent interest. Subsequently, the levy was increased to 15 percent for sites purchased from January 2013 onwards.

Alvin Tan, Executive Director of Local Projects at PropNex International, said that in some instances, the affected units could be resold at higher prices, but this depends on which stage the units were released for sale.

“If it is just after launch, it could be sold at launch price. If sales are good, the price would possibly be higher. Only when the project is nearing completion are developers maybe under pressure to offload the units, which could possibly see some discounts coming in,” he said.

Qingjian would not disclose pricing details for the re-balloting exercise, but URA Realis data shows that the total median transacted price of units at the 99-year leasehold project is $795 psf

Credits: Propertyguru.



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Posted by on in New Launches

Sales of new private homes, excluding executive condominiums (ECs), more than doubled to 1,091 units in July, up from 536 units sold in the month before, according to data published on Monday (15 August) by the Urban Redevelopment Authority (URA).

Property analysts said the spike in transactions was due to the higher number of units launched, following a lull in June when buyers held off on purchases and developers delayed their launches to avoid the school holidays.

There were 624 private condo units launched last month, compared to 234 in June.

The bulk of home sales took place in the suburbs, with 825 units sold (76 percent). This was followed by the city fringe, which sold 213 units (19 percent), and the city centre with 53 units sold (five percent).

The top-selling private condominium in the month was Lake Grande in Jurong, which sold 464 units at a median price of $1,368 psf.

Meanwhile, developers sold 830 EC units in July, up significantly from the 232 units sold in the previous month.

The most popular EC project was Treasure Crest in Sengkang, which moved 398 units at a median price of $751 psf.

Despite the improved sales result, Mohamed Ismail, CEO of PropNex Realty, cautioned that there are still issues plaguing the housing market.

“The mounting supply of homes amid the on-going implementation of stringent measures and strict loan curbs continue to weigh on buying sentiments,” he said.

He added that many buyers are choosing to remain on the sidelines as they anticipate further price declines.

“With the odds stacked against developers, they will continue to act with caution – taking a slow and deliberate approach in launching their projects, as well as having a competitive pricing strategy to further entice buyers to commit.”

Ismail expects sales for the rest of the year to hover at around 500 to 700 units per month. For the whole of 2016, PropNex forecasts the sales volume to reach between 7,000 and 8,000 units.


Credits: Propertyguru

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Posted by on in New Launches

Woodlands has undergone a remarkable transformation over the past 50 years, from its early days of kampongs and plantations, to a densely populated housing and industrial estate. Plans are now underway to develop the town into a regional centre that could rival Jurong and Tampines.

Woodlands is synonymous with the Causeway, which links Singapore to Johor Bahru in Malaysia, but many Singaporeans are unaware of the estate’s rich history that spans nearly 100 years.

The area around modern-day Woodlands probably got its name from the rubber plantations that dotted the landscape in the early 1920s, which existed alongside poultry farms and coastal kampongs.

Some notable examples included Kampong Lorong Fatimah, which existed until the late 1980s before it was torn down to make way for the extension of the Woodlands Checkpoint, and the flood-prone Kampong Sungei Mandai Kechil. Many of the residents living in these settlements worked as boatmen and fishermen.

Following independence, Singapore’s rapid development brought about a growing demand for new homes and industries. This led to the development of Woodlands New Town in the 1970s and 1980s.

The kampongs were replaced with high-rise public housing blocks and industrial infrastructure. By the mid-1990s, more than 22,000 HDB flats were built.

To improve transportation, Woodlands Road was upgraded, while the Woodlands MRT station and bus interchange opened in 1996. Three years later, Causeway Point Shopping Centre, which is linked directly to the MRT station, was opened. Upgrading works for the seven-storey mall were completed in 2010 at a cost of $72 million. Causeway Point now has 250 retail outlets, including Cold Storage, Food Republic and Cathay cinema.

Food paradise

Billy Loh has lived in Woodlands for the past 15 years. The 28-year-old foodie told PropertyGuru that there are several cheap and good eateries, some operating 24 hours a day.

Popular eateries in the neighbourhood include Hong Ji Bak Kut Teh in Marsiling Lane, which even has its own Facebook page. On average, prices are below $10 for a large pot of herbal soup, while the side dishes only cost $1.

Those craving mookata, a traditional Thai barbecue steamboat, can head down to Siam Square Mookata at Woodlands Close, which offers a buffet spread for $29 per person.

Occasionally, Loh visits Fassler Gourmet at Woodlands Terrace, one of a few wholesale food outlets in the area selling fresh seafood. “During festive occasions like Chinese New Year, you can buy fresh sashimi at affordable prices; at least 30 percent off retail prices,” he said.

Living close to the Causeway is another plus for Loh, who frequently drives to Johor Bahru to fill his car with gas and try out the various late night supper joints.

Woodlands Regional Centre

Meanwhile, as part of the Urban Redevelopment Authority’s (URA) Master Plan 2014, Woodlands is set to be transformed into a regional centre for northern Singapore, similar to Tampines in the East and Jurong in the West.

Woodlands Regional Centre will comprise two distinct precincts – Woodlands North Coast, which includes the area between Republic Polytechnic and Woodlands Waterfront, and Woodlands Central, around the Woodlands MRT station.

Around 100ha of land will be developed into new homes, offices and industrial parks. To meet the needs of future residents, the North-South MRT line will be supplemented by the upcoming Thomson-East Coast line (TEL) and North-South Corridor, which will be ready during the next decade.

In addition, there will be a cross-border rail service between the future Woodlands North MRT station on the TEL to Johor, extensive greenery linking Admiralty Park to the Woodlands Waterfront Park, and a walking and cycling network within the estate.

It will take about 15 to 20 years to fully develop the regional centre, which aims to spread out the population and bring jobs closer to homes.

Unveiling plans for the Woodlands Regional Centre at a community event in February 2013, then-National Development Minister Khaw Boon Wan said: “The Woodlands Regional Centre will build on the Causeway Point. But it will be many times bigger and more exciting.

“I believe this development will be a good place for our residents in Woodlands, Sembawang and Yishun. We intend the north to be a good place to live, work and play,” he added.

Genuinely affordable homes

At the same time, public housing prices in the area will be kept affordable, said Mr Khaw.

“We (the government) are the ones who set the price for the new HDB flats, it is not left to the market. We stabilise the BTO (Build-To-Order) prices, and the prices will be linked to the median income of the targeted population, so we can always make sure the new BTO prices will be affordable for new families starting up, and that is a promise which we can deliver.”

Resale HDB flat prices in Woodlands are also lower than in other mature estates. For instance, the median price for a 4-room HDB flat in Woodlands is only $360,000, compared to $510,000 in Toa Payoh and $680,000 in Queenstown, according to Housing Board data in Q1 2016.

Aside from public housing, there are more private properties and executive condominiums (ECs) coming up in Woodlands. Two EC projects have launched there in the last three years, including Forestville, which has sold 99 percent of its 653 units at a median price of $733 psf, followed by the 561-unit Bellewoods, which has found buyers for 322 units. Its developer, Qingian Realty, sold 11 units in May at a median price of $792 psf.

Riding the wave

The latest EC to launch in the area is Northwave. Developed by Chinese firm Hao Yuan Investment, the 358-unit project at Woodlands Avenue 12 comprises two- to five-bedroom units and penthouses, with sizes ranging from 678 sq ft for a two-bedder to 1,722 sq ft for the largest penthouse unit.

Ashton Chan, Senior Manager, Sales and Marketing at MCC Land, the project manager of Northwave, noted that 50 percent of the units will be patio homes. These units come with column-free L-shaped balconies and sliding glass panels. “Residents will be able to slide and fold the glass panels to enlarge their living spaces,” he said.

Marketing agents ERA Realty Network and PropNex Realty have started marketing the project, which has seen a fair bit of interest from prospective buyers, said Chan. “We are targeting buyers who will be working in the future regional centre and industrial clusters.”

In fact, the developer is offering discounts to existing Woodlands residents who may be interested in purchasing units, although details haven’t been finalised yet.

While Hao Yuan has been tight-lipped about unit prices, a source told PropertyGuru that the project’s average price is $760 psf.

“Assuming it is launched at this price, Northwave is poised to be the cheapest new EC in the North, and would be attractive to cost-conscious buyers,” the source said.

PropertyGuru understands that official prices for Northwave EC will be released two days before bookings start.

The e-application exercise runs from 25 June to 6 July, while bookings start on 9 July. The 99-year leasehold project is expected to receive its TOP in 2019.

Stiff competition

Northwave is competing directly with recent EC launches in nearby Sembawang, including The Visionaire and Parc Life, both of which have recorded lacklustre sales.

Jointly developed by Frasers Centrepoint Limited and Keong Hong Holdings, Parc Life has only sold 71 of its 628 units at a median price of $781 psf.

Over at The Visionaire by Qingjian Realty, 185 of the 632 units (29 percent of the project) have been sold at a median price of $820 psf.

With the Woodlands Regional Centre taking shape, industry watchers expect property prices to outperform Sembawang and Yishun in future.

And given the recent hype surrounding the Jurong Lake District, Chan reckons more buyers will turn their attention to Woodlands once the government begins to push for more development in the area.

Did you know?

– Woodlands got its name from the rubber plantations that once dotted the landscape. There were also poultry farms and kampongs in the area, but they had to make way for the development of Woodlands New Town in the 1970s.

– The 12.8ha Woodlands Town Garden in Marsiling was built in 1983 by the HDB. The award-winning park contains a lake, seven Chinese pavilions and six Malay huts on stilts. There are plans to revamp the park, which has fallen into disrepair in recent years.

– The 36-acre Singapore American School moved to Woodlands in 1996. There are close to 4,000 students at the school, of whom two-thirds are US citizens. It is the largest American-curriculum school outside the US, and the largest single-campus international school in the world.

– Crocodiles and sharks are becoming a more common sight in the waters off Woodlands Waterfront Park. Several visitors to the park this year have spotted crocodiles and baby sharks swimming in the area. Recently, an angler at the jetty almost caught a three-metre long crocodile, but his line snapped.


Credits: Propertyguru

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Posted by on in New Launches

A look at some of the developments shaping Singapore’s skyline.


The Criterion
Yishun Street 51

Type: Executive condominium

Developer: City Developments Limited

Tenure: 99-year leasehold

Facilities: 50m lap pool, kids’ play zone, teppanyaki BBQ, microbubble spa, electric bicycles, solar charger

Nearby Key Amenities: Northpoint Shopping Centre, Yishun Park, Khoo Teck Puat Hospital, Orchid Country Club

Nearest Transport: Khatib MRT

Average Indicative Price (psf): $798

Estimated TOP: December 2018

The Criterion is a 505-unit executive condominium (EC) located along Yishun Street 51, which is a only three-minute drive from Khatib MRT. Units include two- to five-bedroom types and penthouses.

The development consists of 10 13-storey blocks. Some residents, such as owners of the three-bedroom units, can opt for flexi layouts. One of the bedrooms in a three-bedder can be modified into two smaller rooms, or to convert half of it into a walk-in wardrobe for the adjacent master bedroom.

The project is located in a relatively quiet part of Yishun, so privacy is a given. Wisteria Mall, slated to open in 2018, will be a five-minute walk away. Northpoint Shopping Centre and Yishun 10, which houses Golden Village Cinemas Yishun, are a five-minute drive away.

Schools in the vicinity include Naval Base Primary School, Northland Primary School, Northbrooks Secondary School, Chung Cheng High School (Yishun) and Yishun Junior College.

The Criterion is easily accessible via major expressways such as the SLE, CTE and TPE. CDL will be providing residents with a shuttle bus service to the nearest MRT stations in the first year.


The Brownstone
Canberra Drive

Type: Executive condominium

Developer: City Developments Limited

Tenure: 99-year leasehold

Facilities: Gym, 50m pool, tennis court, kids’ play zone with pool, junior skating rink, social gardens

Nearby Key Amenities: Sun Plaza, Sembawang Shopping Centre, Wellington Primary School, Canberra Park

Nearest Transport: Canberra MRT (upcoming)

Average Indicative Price (psf): $816

Estimated TOP: January 2019

The Brownstone is a 638-unit executive condominium consisting of two- to five-bedroom units.

Made up of eight 12-storey blocks, the project draws inspiration from the rustic charm of New York’s Brownstone row houses. It is located near the upcoming Canberra MRT station and fronts two of Sembawang’s main thoroughfares, Sembawang Road and Canberra Link.

Sembawang Shopping Centre and Sun Plaza are nearby and Jalan Legundi, an up-and-coming lifestyle enclave with many new cafés, is just a two-minute drive away.

Thanks to the government’s revitalisation plans for the North, residents at The Brownstone will have easier access to the future Seletar Aerospace Park, Yishun Community Hospital, Admiralty Medical Centre and Woodlands Integrated Healthcare Campus.

A Neighbourhood Centre containing a food court, supermarket and other shops right beside Canberra MRT station is also being built. In addition, the Sembawang and Seletar Country Clubs are within a 10-minute drive away.

Schools in the neighbourhood include Sembawang Primary School, Wellington Primary School, Sembawang Secondary School and Ahmad Ibrahim Secondary School.

The Brownstone is accessible via Yishun Avenue 2 and expressways such as the SLE and BKE.


Credits: Propertyguru

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Property developers in Singapore sold 745 private homes, excluding executive condominiums (ECs) in April, compared to 843 units in March.

This represents an 11.6 percent month-on-month decline and a 36.2 percent decline from last year.

Mohamed Ismail, CEO of PropNex Realty, said: “The transaction volume in April is largely contributed by the sale of ECs, forming more than half of the total number of new homes sold in April.

“Sturdee Residences was the top-seller (other than The Visionaire EC) for April, at the median price of $1,620 psf for a Rest of Central Region (RCR) project.”

Here’s a look at the five top-selling projects in April, of which three of them are ECs: The Visionaire, Sturdee Residences, Botanique at Bartley, Parc Life and The Vales.

1. The Visionaire EC (OCR)
Developer: Qingjian Realty
Tenure: 99-year leasehold
Location: Sembawang (D27)
Nearest MRT station: Future Canberra MRT
Median price: $821 psf
Total no. of units: 632
Sales update: 154 units sold in April


2. Sturdee Residences (RCR)
Developer: Sustained Land
Tenure: 99-year leasehold
Location: Jalan Besar (D8)
Nearest MRT station: Future Bendemeer MRT
Median price: $1,620 psf
Total no. of units: 305
Sales update: 126 units sold in April


3. Botanique at Bartley (OCR)
Developer: UOL Group
Tenure: 99-year leasehold
Location: Upper Paya Lebar (D19)
Nearest MRT station: Bartley MRT
Median price: $1,297 psf
Total no. of units: 797
Sales update: 52 units sold in April


4. Parc Life EC (OCR)
Developers: Frasers Centrepoint Limited and Keong Hong Holdings
Tenure: 99-year leasehold
Location: Sembawang (D27)
Nearest MRT station: Sembawang MRT
Median price: $784 psf
Total no. of units: 628
Sales update: 51 units sold in April


5. The Vales EC (OCR)
Developers: SingHaiyi Group and Kay Lim Investment
Tenure: 99-year leasehold
Location: Sengkang (D19)
Nearest MRT station: Sengkang MRT
Median price: $791 psf
Total no. of units: 517
Sales update: 51 units sold in April

Credits: Propertyguru

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UPDATED: New private home sales in Singapore, excluding executive condominiums (ECs), fell by 11.6 percent to 745 units in April 2016, compared to the 843 units sold in the previous month, according to latest data published by the Urban Redevelopment Authority on Monday (16 May).

Year-on-year, developer sales plunged by 36.2 percent from the 1,167 units sold in April last year, data showed.

This comes despite the number of units launched rising to 900 in April from 682 units in March, noted DTZ.

The property agency stated that the Outside Central Region (OCR) and Core Central Region (CCR) saw weaker sales last month, with the drop in the CCR being attributed to the higher take-up rate for Cairnhill Nine in March. “Notwithstanding, Cairnhill Nine is still doing well, selling 68 units in April, where the bulk are one- and two-bedders,” said Lee Nai Jia, Regional Head (SEA) Research, DTZ.

The best-selling private residential project in the month was Sturdee Residences in the Jalan Besar area, boosting sales in the Rest of Central Region (RCR) to 320 units, said DTZ. Meanwhile, This email address is being protected from spambots. You need JavaScript enabled to view it.">Kingsford Waterbay in Upper Serangoon managed to sell 100 units in April.

Among the EC projects, The Visionaire sold 154 units and Parc Life moved 51 units, despite both projects receiving more e-applications. “Given that the buyers can withdraw their e-applications at no cost, the conversion rate is low,” said Lee.

He explained that the overall slowdown in sales was due to a number of reasons. “Besides the cooling measures, buyers were also affected by the releases of weaker economic data, both globally and locally.

“As the economy becomes more uncertain, and (with) the Additional Buyer’s Stamp Duty (ABSD) weighing on buyers’ decisions, more buyers prefer to stay put unless they find the project very attractive, in terms of its pricing and location.

“Notwithstanding, the release of May and June’s data will give a better indication on whether there is a further weakening of demand or not,” he added.

Credits: Propertyguru

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Sim Lian Group’s Wandervale executive condominium (EC) saw 60 percent of its units booked—with the four-bedroom flats sold out, the developer said in a press release.

As of Tuesday (19 April), the upcoming 534-unit EC development in Choa Chu Kang has found buyers for a total of 320 units.

According to the release, approximately half were purchased by HDB upgraders, and another 20 percent were bought under the Housing Board’s Fiancé/Fiancée Scheme.

In addition, the group noted that the project’s large flats remain as the most popular option for home buyers, with 82 four-bedroom units snapped up.

Wandervale, which is located within walking distance to the Choa Chu Kang MRT station and bus interchange, is being jointly marketed by OrangeTee and ERA Realty Network. It is the first EC unveiled in Singapore this year.

Unit prices start from S$655,000 for a three-bedder, S$753,000 for a three-bedroom premium unit and S$896,000 for a four-bedroom flat. Buyers may choose either a normal payment or a deferred payment scheme.

Credits: Propertyguru

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Property developers sold 843 private housing units, excluding executive condominiums (ECs), in March 2016, according to new data released by the Urban Redevelopment Authority (URA).

This represents a 178 percent jump from the 303 units sold in the previous month. Year-on-year, sales increased by 37.5 percent.

OrangeTee said this is the highest tally of monthly developer sales since July last year, when 1,655 units were moved.

But analysts were not surprised by the surge in new home sales. DTZ said the period of March to May tends to see an increased level of activity.

“Notwitstanding, consistent with what we see on the ground, there are more buyers returning to the market. Most of these buyers look for developments at choice locations at relatively lower quantums,” noted the consultancy.

OrangeTee explained that there has been an accumulation of pent-up demand from buyers who have adopted a wait-and-see attitude due to the property cooling measures.

While these measures have side-lined many buyers due to the increase in upfront costs and tighter financing conditions, buyers are still willing to commit when there is perceived value in the market, the firm said.

“Good quality projects coupled with competitive pricing is the key to excite dormant demand lurking in the private residential sector.”

Meanwhile, two of the best-performing new launches in March were Cairnhill Nine and The Wisteria.

Located at Cairnhill Road, the 268-unit Cairnhill Nine by CapitaLand sold 177 units last month at a median price of $2,441 psf. Over in Yishun, NorthernOne’s The Wisteria saw 125 out of its 216 units snapped up at a median price of $1,112 psf.

Looking ahead, OrangeTee said three new projects will be launched in April and May, namely Sturdee Residences (305 units), Stars of Kovan (395 units) and Gem Residences (578 units).

Credits: Propertyguru

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Housing measures and other factors have opened a new window of opportunity for home buyers.

Considered a playground for wealthy Singaporeans and foreigners, the exclusive residential enclave of Sentosa Cove has lost some of its lustre from its heyday; due mainly to the 2008 global financial crisis and the onslaught of the government’s property cooling measures, revealed a new white paper from Colliers International. 

Nonetheless, a window of opportunity may have opened in this high-end market, offering sound investment fundamentals in the long term. 

Home to several prime property developments, Sentosa Cove saw owner-occupiers and investors eagerly snapping up its first few condominium projects, including The Berth by the Cove, The Azure, The Oceanfront@Sentosa Cove and The Coast at Sentosa Cove. 

From Q4 2004 to Q1 2008, condominium prices in Sentosa shot up 213.8 percent compared to the 124.2 percent median price growth of those on the mainland. 

After almost a decade since new homes were launched in Sentosa Cove, the residential enclave fell off the radar of investors and owner-occupiers as the global financial crisis, which started to take hold towards the end of 2008, affected the condominium market in the area. 

Its impact was further aggravated by the introduction of property measures and saw median prices of condominiums fall 44.2 percent in two consecutive quarters to hit S$1,646 psf by end-September 2013, or 1.5 percent down from prices of their mainland counterparts. 

The about turn offers home buyers the opportunity for value investment and the ability to own a dream home. 

Notably, the S$1,646 psf median price of condominium units in Sentosa Cove is only 25.6 percent higher than the S$1,311 psf median price of 99-year leasehold mass-market condominiums in the Outside Central Region (OCR) during Q3 2013. In addition, “the entry-level price band of S$1.7 to S$2.0 million is comparable and in some instances, more favourable than the prices of some popular new mass-market homes on the mainland”, noted Colliers. 

Aside from that, there is also “potential for the net rental yields of 2.8 percent as of September 2013 to return or even exceed the historical high of 5.4 percent achieved in Q4 2008 in the long run, when the major economies emerge from their doldrums”.


Credit from PropertyGuru

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SINGAPORE: Part of the land at PSA Corporation's Keppel Terminal will be acquired by the government to facilitate the construction of Circle Line Stage 6 (CCL6).

The Singapore Land Authority said it has gazetted the land affected by the acquisition on Wednesday.

The Land Transport Authority (LTA) said it will build an extension to the existing Circle Line that will improve the direct east-west connectivity between the central east and central west areas.

LTA said this four-kilometre line will connect HarbourFront station to Marina Bay station.

By 2025, LTA said commuters will enjoy a direct route between key employment areas in the Central Business District, upcoming developments in the Marina Bay area, and retail and office centres in the HarbourFront area via CCL6.

LTA said it is in the process of conducting the architectural and engineering studies and will announce the alignment of the line when it has been finalised.

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Launch Property Singapore

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Hi, thank you for taking the time to visit my property portal. Please allow me to introduce myself. I am Kaeden, a full time real estate professional realtor with ERA Realty Network Pte Ltd. I believe knowledge, competency and providing a good service to customers are the keys to success in this line. Take this opportunity to allow me to assist you in locating your ultimate Dream Home.