Launch Property Singapore

Come and find out about new launch and condo news in Singapore! Subscribe to our blog now for more latest property information.

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Team Blogs
    Team Blogs Find your favorite team blogs here.
  • Login
    Login Login form
Subscribe to this list via RSS Blog posts tagged in Feb 2017

Posted by on in New Launches

The-Clement-Canopy-preview.original.jpg

Even with only one new project launch, the number of private residential units (excluding ECs) sold by developers rose 155.8 percent to 977 units in February 2017 from 382 in the previous month, according to data from the Urban Redevelopment Authority (URA).

On a yearly basis, private homes sales soared 222.4 percent from the 303 units sold in February 2016.

The Clement Canopy, which was the only new launch in February, emerged as the best-selling project, with 207 units sold at a median price of $1,343 psf. It was followed by Parc Riviera and The Santorini, with 200 units and 51 units sold at median prices of $1,281 psf and $1,041 psf, respectively.

Rounding up the top five best-selling projects are The Glades (30 units) and The Venue Residences (28 units).

Sales of ECs also increased 78.8 percent to 329 units in February, despite the lack of new projects.

Sol Acres topped new EC sales with 82 units sold, followed by The Terrace and The Visionaire, with 40 units and 39 units sold, respectively.

Analysts noted that the healthy figures indicated significantly better market sentiments from the previous year and an early start to the buying momentum this year.

“There is a greater sense of confidence in both developers and buyers,” said Ong Teck Hui, JLL’s National Director for Research and Consultancy, adding that 770 of the 977 private homes sold in February were from previously launched projects.

“This tells us that with more positive sentiments, buyers are not just attracted by newly launched projects but also drawn to those launched previously, reflecting a more broad-based improvement in demand,” he said.

“The recent easing of the Seller’s Stamp Duty and the Total Debt Servicing Ratio would be a favourable enhancement on a market that is already on a buying uptrend.”

Meanwhile, Desmond Sim, Head of CBRE Research for Singapore and South East Asia, believes the sales levels “reinforce the current trend of buyers favouring projects with units priced at a palatable quantum”.

Sim revealed that he does not expect the trend to change even with the recent tweaks to the property curbs.

 

Credits: Propertyguru

Hits: 1492
Rate this blog entry:
1

Should local players be scared?

According to BNP Paribas, in the past few years, it has seen foreign developers, especially the Chinese developers, making an effort to gain market share, possibly for scale effect, and for beefing up their pipeline to sustain their business operations in Singapore.

Here's more:

Since the recovery in 2009, more foreign developers have entered the land market to compete against local developers. While they may have contributed to the property market in terms of fresh development ideas and product diversity, their presence has in no doubt heated up competition for land. Based on SLP studies, foreign players' participation rate has increased from 8% in 2009 to 26% in 2013.

Before 2009-10, foreign developers were mainly from Malaysia such as IOI Properties (IOIPG MK), SP Setia (SPSB MK) and Sunway (SWB MK), and from Hong Kong such as Cheung Kong Holdings (1 HK) and MCL Land. Since then, we have seen more Chinese developers entering the market, such as Qingjian (not listed), MCC Land, Hao Yuan and Kingsford Development.

Although relative newcomers as developers, some of them (such as Qingjian and MCC Land) are familiar with the Singapore property market, and have operated here for over a decade as construction companies.

Different approaches of participation

Foreign developers adopt various approaches when investing in the Singapore land market. Japanese players tend to participate in joint ventures with local developers.

For example, Mitsui Fudosan (8801 JP) has a JV with Hong Leong via TID. Mitsubishi Estate (8802 JP) has a long standing partnership with CapitaLand, while Sekisui House (1928 JP) with Fraser Centrepoint and Far East. We also see Malaysian developer, Sunway, teaming up with local Hoi Hup (not listed), while more recently China Vanke entered the Singapore land market by partnering with Keppel Land.

Hong Kong players such as Cheung Kong and MCL Land (part of Hong Kong Land group) tend to participate on their own, as do most Chinese players such as Qingjian, MCC Land, Hao Yuan and Kingsford.

Credits: Singapore Business Review

Hits: 862
Rate this blog entry:
0

Launch Property Singapore

is dedicated to finding your dream homes.

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.