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SINGAPORE - Chinese developer Qingjian Realty will open its first mixed-use development - Le Quest in Bukit Batok - for preview on Saturday (July 22).

The average selling price for private homes at the project is about S$1,280 psf, the developer said on Wednesday (July 19).

Le Quest, a 99-year leasehold development, will feature 516 residential units - along with more than 6,000 sq m of retail space on the ground floor.

About 40 per cent of the commerical space will be devoted to food and beverage, with the remaining area going to other retail and lifestyle offerings.

Qingjian said about 30 per cent of the retail space has been leased, with anchor tenant NTUC Fairprice Finest set to take up more than 1,200 sq m of space, and food court operator Koufu to occupy over 500 sq m of the area.

This is the first retail mall that Qingjian is managing here.

The residential units - from studio apartments to four-bedders - will be spread across five blocks comprising 12-storeys each.

There are 132 studio and one-bedroom units with size ranging from 431 sq ft to 614 sq ft. Indicative prices for the studio start from S$588,000 and S$648,000 for the one-bedders.

Two-bedroom units, which spans 592 to 829 sq ft - accounting for about 28 per cent of the development - will cost at least S$758,000.

Most of the units in Le Quest - 192 of them -are three-bedders, with sizes from 818 to 1,206 sq ft. Prices for these units start from S$990,000.

The 48 four-bedroom apartments have a starting price of S$1.38 million. They are between 1,130 sq ft and 1,528 sq ft.

"We think this is a fair price. It is the first mixed development in the area... looking at the market now, we are optimistic about response for the project," noted Ms Yen Chong, deputy general manager at Qingjian Realty (South Pacific) Group.

Le Quest will be launched for sale on Aug 5, when Ms Chong said the firm is aiming to sell 150 apartments on that first launch weekend.

The development is expected to be completed at the end of 2021.

 

Credits: The Straits Times

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Chinese developer Qingjian Realty will open its first mixed-use development - Le Quest in Bukit Batok West - for preview this weekend.

The average selling price for private homes at the 516-unit project is about $1,280 per sq ft, the developer said yesterday.

Le Quest, a 99-year leasehold development, will also have more than 6,000 sq m of retail space on the ground floor, with about 30 per cent of the space already leased.

"We think this is a fair price. It is the first mixed development in the area... Looking at the market now, we are optimistic about response for the project," noted Ms Yen Chong, deputy general manager at Qingjian Realty (South Pacific) Group.

Le Quest will be launched for sale on Aug 5, with hopes that 150 apartments will go.

Sales of new private homes have been robust this year, boosted by positive market sentiment following the slight easing of certain cooling measures in March.

The homes at Le Quest - from studios to four-bedders - will be spread across five 12-storey blocks. There are 132 studio and one-bedroom units with sizes ranging from 431sq ft to 614sq ft.

Indicative prices for the studios start at $588,000, with one-bedders at $648,000, Qingjian said at a briefing yesterday.

Two-bedroom units, which span 592 to 829 sq ft, account for about 28 per cent of the development. They will cost at least $758,000.

Prices for the 192 three-bedders (818 to 1,206 sq ft) will start at $990,000, and the 48 four-bedroom apartments (1,130 to 1,528 sq ft) will start at $1.38 million.

Some analysts told The Straits Times that the prices seem to be on the high side.

"The average selling price is a bit rich for the neighbourhood and it is not near the MRT station. Buyers will be paying a premium," said International Property Advisor chief executive Ku Swee Yong.

On the commercial component, Ms Chong said despite the challenges facing the retail industry, Le Quest is drawing good response from prospective tenants.

Anchor tenant FairPrice Finest supermarket is set to take up more than 1,200 sq m, while foodcourt operator Koufu will occupy about 500 sq m.

The developer, which will be managing a mall for the first time here, is in talks with potential tenants, including fast-food joints and cafes, on leasing for another 20 per cent of the commercial space.

Ms Chong said the mall will have a "hipster/contemporary" theme, with 40 per cent of the retail space for food and beverage outlets and the remaining area going to other offerings.

Le Quest, which will feature smart-home technologies, is expected to be completed at the end of 2021.

This will be Qingjian's final new project launch this year.

The developer plans to launch a new development on the site of Shunfu Ville, which it acquired for $638 million via a collective sale last year, in the third quarter of next year.

 

 Credits: The Straits Times

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Australia-based developer Lendlease sold 215 (50 percent) of the 429 available units at Park Place Residences in Paya Lebar Quarter (PLQ) during the first day of launch last Saturday (25 March).

This represented over 100 percent of the planned sales under the first phase, making it one of Singapore’s most successful private condominium launches in recent years.

Lendlease had originally intended to release only 40 percent of the units last weekend, but due to overwhelming response from buyers who queued from early morning, an additional 10 percent of the condo units were launched for sale.

Prices of the units ranged from around $800,000 for a one-bedroom apartment to $2.1 million for a three-bedroom premium unit, which works out to $1,600 psf to over $2,000 psf.

“The strong sales show our buyers confidence in the quality of the project and in Lendlease,” said Tony Lombardo, CEO for Asia.

One of the buyers was Patrick Yap, 39, who purchased a one-bedder for investment purposes. “Park Place Residences is part of an integrated development (PLQ) with an upcoming retail mall and offices. Together with its convenient location, I am confident that it will attract many tenants,” he said.

Similarly, 31-year-old Huang Zhenbiao and his wife bought a two-bedroom apartment after being attracted to the project’s strategic location.

“The development is on the Paya Lebar MRT interchange, and we can get to the Central Business District (CBD) quickly. There is potential development around the area too, which is another plus point.”

Meanwhile, prices of the remaining units at Park Place Residences are expected to increase when details of other upcoming developments in the vicinity are announced, especially in the greater Paya Lebar Central area.

The location is also emerging as a new vibrant hub in Singapore, given its position on the double MRT Interchange and proximity to the CBD and Changi Airport.

Following the successful launch, Lendlease will now temporarily close the showflat. Details on the next phase of sales are expected to be revealed later this year, while construction of the entire development is expected to be completed by early 2019.

 

Credits: Propertyguru

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Lendlease is set to launch Park Place Residences at Paya Lebar Quarter (PLQ) by 31 March, marking its maiden foray into residential development in Singapore.

“We are excited to be entering Singapore’s residential property market with Park Place Residences at PLQ,” said PLQ’s Managing Director Richard Paine, adding that they have tapped the expertise of the Australian developer to create a condominium with a live-work-play concept.

The 429-unit project along Paya Lebar Road comprises three towers standing on a 98,520 sq ft site with a leasehold tenure of 99 years commencing from 29 June 2015. It offers a mix of one- to three-bedroom apartments, of which there are 117 one-bedroom units ranging from 480 sq ft to 580 sq ft, with prices starting from around $780,000.

There will also be three variations of two-bedroom apartments measuring from 650 sq to 900 sq ft, while the two variations of three-bedders range from 1,080 sq ft to 1,350 sq ft.

Located near the Paya Lebar MRT Interchange, the condominium will be linked to retail and office buildings via covered walkways, meaning more than 700 shops in the retail mall are within a short walk.

Aside from the development’s various facilities, which includes three pools, another key feature is its extensive network of greenery. In fact, it has received the Green Mark Platinum Award from the Building and Construction Authority.

Furthermore, the condominium is exempt from the Additional Buyer’s Stamp Duty rules that require developers to sell all units in a development within a five-year period, as it is part of a mixed-use development located within a commercial zone.

Park Place Residences at PLQ is scheduled to be completed by the second half of 2020.

 

Credits: Propertyguru

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There are signs that Singapore’s private residential market may have bottomed out in 2016, with the sector recording a higher deal volume, revealed Edmund Tie & Co.

Citing data from the Urban Redevelopment Authority (URA), the property consultancy noted that the combined sales of new and resale private homes increased sharply by 15.5 percent to 16,378 units last year from 14,183 units in 2015. Specifically, transactions in the primary market rose marginally to 7,780 units from 7,703 previously.

The URA’s statistics also revealed that prices of private homes stabilised in 2016, with the sector posting a softer price drop of 3.1 percent compared to the 3.7 percent decline seen in the preceding year.

Moreover, the private residential market may benefit from the higher transaction volume of HDB resale flats, which rose 7.8 percent to 20,813 units last year. This is because upgraders tend to sell their public housing units before moving into private properties.

Looking ahead, the company expects sales of new private homes to trend upwards to 8,000 to 9,000 units for the whole of 2017. New developments that are expected to sell well this year include Guocoland’s 450-unit Martin Modern in Martin Place, UOL’s The Clement Canopy with 505 units in Clementi Avenue 1, the 720-unit Grandeur Park Residences by CEL Development in New Upper Changi Road, and the 840-unit Seaside Residences by Frasers Centrepoint in Siglap Road.

 

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Chinese developer Qingjian Realty, through its smart home solutions provider hiLife Interactive, has teamed up with Singtel to launch iNz Residence, the first internet-ready executive condominium in Singapore.

With this partnership, home buyers can expect their units to be fitted with 1Gbps Singtel fibre broadband. Singtel will also provide WiFi services within the development’s facilities, such as the gym, clubhouse and pool area.

“This will clearly be a boon to the smart lifestyle – they will be able to continue to access online services soon after they are handed their new homes, and be at ease planning and designing their new lifestyle in their new homes in a smart and efficient way,” said Yen Chong, Deputy General Manager at Qingjian Realty.

The property developer revealed that homeowners at the 99-year leasehold development will enjoy energy-efficiency trackers like the smart leak sensor and smart energy meter, as well as more smart security systems like the smart digital lockset, smart contact sensor and smart motion sensor.

Located on a 1.6ha site, iNz Residence EC is located along Choa Chu Kang Ave 5, and comprises nine blocks of high-rise apartments. Unit sizes at the 497-unit project range from two-bedroom apartments to five-bedroom maisonettes.

Prices for the two-bedroom units start from $500,000, $600,000 for the three-bedders and $1.1 million for the maisonettes, reported TODAYonline.

“We believe that the public will continue to be interested in the smart living concept at iNz Residence, just as we have seen at The Visionaire,” said Yen, adding that the latter has seen a consistent stream of buyers and is almost 60 percent sold.

E-applications for iNz Residence will start this Friday (24 February).

The showflat at Choa Chu Kang Avenue 6 (along Brickland Road) will open on the same day, with bookings commencing on 11 March. The project is expected to obtain its TOP in 2019.

 

Credits: Propertyguru

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The Clement Canopy, a 505-unit condominium at Clementi Avenue 1, drew large crowds at the start of its preview last weekend. More than 5,000 people crammed into its showflat over two days to view the two- to four-bedroom apartments.

Spread across two 40-storey blocks, the units range from 635 sq ft to 1,539 sq ft, with prices starting from $850,000 for the smallest units. The average price of the project is in the range of $1,330 psf to $1,360 psf.

Jointly developed by UOL Group and SingLand, the 99-year leasehold project is the first condo to launch in 2017. It is located close to NUS High School of Mathematics and Science and Nan Hua High School.

Anthony Wong, General Manager of Marketing at UOL, said: “We see a very strong interest for The Clement Canopy as there has not been any launch within the vicinity for some time. I believe the price is the key to the excitement that we see amongst the crowd.

“Moreover, buyers recognise the value of the project, given the attractive pricing and location, which is near one-north and the education hub. Riding on the improved market sentiment, buyers who have been staying on the sidelines are now actively seeking out affordable properties with good location and design.”

In line with Singapore’s vision to become a Smart Nation, UOL has joined a long list of developers to incorporate smart home technology in its latest project. For instance, future residents of The Clement Canopy will be able to book common facilities such as the tennis court and clubhouse through a mobile app. Using the same app, homeowners can also remotely control door access, air-conditioning and lighting in their units.

Meanwhile, the preview period for The Clement Canopy will stretch for another weekend, while balloting starts on 25 February.

Giving an update on sales figures at its previous launches, UOL said it has seen an increase in transactions since the start of the year.

Thomson Three and Seventy Saint Patrick’s in Marine Parade are now fully sold, while Botanique at Bartley, a 797-unit condominium, is left with just nine units. Over in Sengkang, the 555-unit Riverbank @ Fernvale project, which comes with bike-sharing facilities, is left with 18 units, while Principal Garden at Prince Charles Crescent has sold more than half of its units.

This improved sentiment in the housing market carries on from a good year-end take up of 7,972 private units in 2016, up 7.2 percent from the year before, noted analysts.

 

Credits: Propertyguru

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New private home sales are expected to get a boost with four project launches expected by April, reported the Straits Times.

These are Clement Canopy in Clementi by Singland Homes and UOL Group; Park Place Residences at Paya Lebar Quarter by Lendlease; Grandeur Park Residences in Tanah Merah by CEL Development, a unit of Chip Eng Seng Corporation; and Seaside Residences in Siglap by Frasers Centrepoint Singapore.

This comes as developers sold just 367 new units in December, when only 90 new units were launched. On an annual basis, however, new home sales increased by seven percent from 7,440 units in 2015 to 7,972 units last year.

This year, Knight Frank expects developers to sell about 8,000 to 9,000 units amid “gradually returning interest” from local and foreign buyers.

“With more people believing that the market is now close to the bottom of the down cycle, interest in new launches will likely be sustained,” said Christine Li, Research Director at Cushman & Wakefield.

Analysts noted that pent-up demand for homes remains resilient despite the property cooling measures and weaker economic outlook.

Nonetheless, home buyers are expected to remain price-sensitive and selective, opting for competitively priced and well-located projects.

“They will transact only when they perceive a good deal… However, a rapid rise in interest rates would impact market sentiment, which may cause demand to retreat,” said Wong Xian Yang, Head of Research and Consultancy at OrangeTee.

Credits: Propertyguru

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Property developers in Singapore sold 860 units in November 2016, down 31.4 percent from the 1,253 units in the previous month, reported Channel NewsAsia, citing data from the Urban Redevelopment Authority (URA).

Including executive condominiums (ECs), developers sold 1,110 private homes, down from the 1,542 units sold in October.

The number of units launched by developers also fell from 1,467 units in October to 1,363 units last month.

Most of the sales took place at the Parc Riviera project in West Coast Vale, which sold 128 of the 200 units launched, and at Queens Peak in Queenstown, which sold 271 of its 736 units.

Credits: Propertyguru

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The 626-unit The Alps Residences at Tampines Street 86 sold 270 units (43 percent) on Sunday (2 October), its first launch day after a week-long preview, said its developer MCC Land.

Prices range from $491,000 for a one-bedroom unit measuring 441 sq ft to $1.44 million for a 1,410 sq ft four-bedder.

According to a spokesperson for the condominium, t he one- and two-bedroom units made up 88 percent of the units sold.

“We attribute the strong response to the highly efficient unit designs as well as competitive prices. There seems to be pent-up demand in Tampines, which has seen no new condominium launched since The Santorini, also an MCC Land project, in April 2014,” the spokesperson said.

The 99-year leasehold project is expected to obtain its TOP in 2020.

 

Credits: Propertyguru

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Some 1,800 home buyers and their guests turned up at a celebration party on Saturday (3 September) to mark the completion of Sky Vue in Bishan Central. The event was jointly hosted by the project’s developers CapitaLand and Mitsubishi Estate Asia.

The 99-year leasehold condominium located close to Bishan MRT station obtained its TOP on 21 July.

Around 97 percent, or 672 of the 694 units have been sold as at end-August, said CapitaLand.

The remaining 22 units are mostly two-bedroom configurations measuring 678 sq ft to 829 sq ft, with prices starting from $1.16 million. Also available are a 484 sq ft one-bedroom unit and two penthouses of 2,045 sq ft each.

“We are confident of selling the remaining 22 units, especially with its completion,” said Wen Khai Meng, CEO of CapitaLand Singapore. “This is the fourth completion party we have organised for our home buyers, following those held at The Interlace, d’Leedon and Sky Habitat.”

In an update on its deferred payment scheme, called the stay-then-pay scheme, Wen revealed that 59 options were exercised for d’Leedon, and 42 for The Interlace between 20 June and 30 August. “This scheme is very well-received,” he said.

Under the standard payment scheme, 13 units were sold at d’Leedon and nine at The Interlace during this period.

CapitaLand will also be introducing a marketing scheme to move units at Sky Habitat. Meanwhile, Marine Blue will be completed in the coming months before being officially launched.

 

Credits: Propertyguru

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A convenient location coupled with a slew of outstanding facilities, This email address is being protected from spambots. You need JavaScript enabled to view it.">UOL Group Limited’s residential project Riverbank @ Fernvale is hitting all the right notes with home buyers and investors alike.

These days, when it comes to purchasing a new property for investment or as a residential home, there’s little doubt that home buyers are pretty much spoilt for choice. There’s plenty of new project launches available in the market, with each development offering a list of impressive features catering to various needs, tastes and budgets. However, if the criteria for your ideal home includes exclusivity, proximity to nature, close walking distance to a slew of conveniences, coupled with impressive recreational facilities, look no further than Riverbank @ Fernvale in Sengkang.

Strategically located at Sengkang West Way, the 555-unit development comprises a good mix of one- to five-bedroom units ranging from 495 sq ft to 1,389 sq ft. To date, the one-, two-, as well as five-bedroom units have all been sold out, and only a limited number of three- and four-bedroom units are left. For those who require a bigger space to stay, they can opt for the three- or four-bedroom units, which range from 947 sq ft to 1,238 sq ft. And for those who are buying to invest, they can choose the three-bedroom dual-key units, which range from 990 sq ft to 1,044 sq ft.

Regardless of which unit buyers pick, they can be assured that every unit housed within the development not only features a chic and stylish interior design, but has also been outfitted with top-of-the-line fittings and functional appliances.

Raising the bar on outdoor facilities

Long gone are the days of enticing home buyers solely with location, views or the usual trappings of tennis courts, Jacuzzis, steam rooms, and state-of-the-art gymnasiums. In a bid to attract more buyers amid softer market conditions, developers are upping their game – some have introduced new types of facilities in their projects, while others are offering interest-based classes, and UOL is no exception.

Besides the requisite pools, playgrounds and BBQ pits, Riverbank @ Fernvale also features a unique bicycle sharing facility – the first-of-its-kind in condominium developments in Singapore, with UOL supplying 50 bicycles to be shared by the condominium’s residents.

Residents, especially nature lovers and outdoor enthusiasts, will be pleased to know that they can book the bicycles for free, and enjoy rides to a slew of nature spots including Lorong Halus Wetland, Punggol Park, Riverside Park Connector, My Waterway@Punggol, Pulau Ubin, and Coney Island – all of which are easily accessible from the development.

Seamless connectivity

Whether by public transportation or by car, those living at This email address is being protected from spambots. You need JavaScript enabled to view it.">Riverbank @ Fernvale will get to enjoy more options for shorter and more comfortable journeys between Sengkang and the rest of Singapore as the area is well served by major roads and expressways, including the Central Expressway (CTE), Seletar Expressway (SLE), Tampines Expressway (TPE), and the newly unveiled Seletar Aerospace Flyover. For those who rely on public transportation, they will appreciate that Sengkang MRT station, as well as the Layar and Oasis LRT stations, are all within walking distance from the development. Residents can also use the bicycles to commute to the nearby MRT or LRT station.

Endless amenities at your doorstep

For families with school-going children, they will definitely appreciate the convenience of the development’s location, with top institutions like Nan Chiu Primary and Nan Chiau High School situated in the vicinity. In addition, the development is close to various shopping malls and eateries, such as Seletar Mall, Compass Point, Rivervale Mall, Waterway Point and Jalan Kayu.

It’s easy to see why Sengkang is fast becoming one of the more sought after housing estates in the north-eastern part of Singapore – more young families are choosing to settle down there as the area not only features a well-connected public transport network and a slew of amenities, but it is also located close to several nature spots.

That is not all, as new residents can look forward to even more amenities in future, such as the upcoming Safra Punggol (slated to be ready by April 2016), new childcare centres in approximately 1,000 places (by mid 2016), and The Oval @ Seletar Aerospace Park (SAP). Comprising a cluster of 32 black and white colonial bungalows that were gazetted for conservation under the Urban Redevelopment Authority (URA) Master Plan 2014, The Oval @ SAP will be used for an array of lifestyle businesses, including restaurants. Families with young children will also be drawn to this place as the development will include a slew of lifestyle facilities such as a playground, a boardwalk that fronts the runway, an open lawn, picnic tables, and an open hard court – perfect for family outings and events.

Strong investment potential

The position of Riverbank @ Fernvale is further strengthened by its close proximity to nearby industrial clusters such as Woodlands Regional Centre, Seletar Regional Centre and the upcoming Seletar Aerospace Park.

Seletar Aerospace Park, which is envisioned to be a world-class dedicated aerospace regional facility, is expected to create about 10,000 jobs upon its projected completion in 2018.

In short, residents of Riverbank @ Fernvale can look forward to a wealth of job opportunities near where they live.

The 99-year leasehold condominium development is expected to get its temporary occupation permit (TOP) at the end of 2016 or early 2017.

Prices start at $905,000 for three-bedders and $1.023 million for four-bedders.

 

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A S$58.3 billion township the size of Ang Mo Kio is set to rise near the Tuas Second Link in the Johor Strait.

The first phase of Forest City, a 14 sq km mixed-used development comprising four man-made islands, will launch in Singapore, China and Malaysia in the first quarter of 2016, but the sales gallery is already open for bookings.

Aside from condominium units and high-rise coastal residences, Forest City also consists of hotels, retail centres, parks and leisure attractions, which will be developed in nine phases over 20 years.

Country Garden Pacificview, the master developer, is jointly owned by Chinese property giant Country Garden Holdings and Johor’s Esplanade Danga 88.

As part of long-term planning, Country Garden is in discussions with the Malaysian government to set up dedicated entry points to Forest City, such as a light rail transit system and a ferry network that will link to Singapore and to the planned high-speed rail (HSR) between Singapore and Malaysia.

This is the biggest overseas development undertaken by Country Garden, which has more than 200 projects globally.

At a global press conference held in Singapore on Friday, the Hong Kong-listed developer said that the project is still under construction and prices of the residential units have not yet been set, but will likely cost around RM1,200 psf (S$400 psf) on average. Comprising two- to four-bedroom units, sizes range from about 818 sq ft to 1,915 sq ft.

Meanwhile, a Straits Times report last year stated that the project could house around 700,000 people. So far, 700 residential units at Forest City have been approved for sale, excluding the 336,000 new private residential units in the pipeline for Johor.

Responding to media queries about the future oversupply in Iskandar’s property market, Country Garden Pacificview executive director Datuk Md Othman Yusof said: “We are working with a company (Country Garden) that has a strong capital base and knows how to create their own market. Most of their launched projects are more than 60 percent sold.”

Country Garden is also developing a waterfront project in Danga Bay featuring 9,000 residential apartments. Covering 50 acres, phase one and two have launched with more than 6,000 units already sold. More than 50 percent of the units were sold to overseas buyers from Singapore, Indonesia and the Middle East, said the developer.

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The Poiz Residence

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MCC Land has opened The Poiz Residences for public preview, with sales set to begin on 28 November, reported The Straits Times.

Located beside Potong Pasir MRT station, the project had previously seen some unwelcome publicity, after several St Andrew’s alumni protested against its original name, The Andrew Residences, for being too similar to the name of the educational institution. MCC Land subsequently changed the name of the property.

Defying predictions of a further slowdown in the property market, the property developer is releasing about 50 percent of the total number of units in its first launch. The 731-unit condominium, situated in Meyappa Chettiar Road, forms part of a mixed-use development that also includes a retail and lifestyle mall, The Poiz Centre.

Over half its units are one- and two-bedders, measuring 420 sq ft and above and priced at around S$1,380 psf on average. The project will also feature 202 three-bedders, 52 four-bedders, and four penthouses. Both the mall and condominium are set to be completed in 2019.

“In spite of Potong Pasir’s rapid development over the years, it seems to lack an iconic central destination that combines major transport infrastructure with retail and recreational amenities, as found in most other residential estates,” said MCC Land managing director Tan Zhiyong. He noted that the commercial project is intended to be Potong Pasir’s definitive landmark.

 

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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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