Category Archives: East

Eastern part of Singapore

Singapore Private Propertys fall 3.2% for second quarter

Singapore recorded the second-biggest year-on-year drop in private property prices in Asia for the second quarter, according to an index out yesterday.

It noted that apartment prices fell 3.2 per cent in the three months to June 30 over the same period a year earlier. China was the only Asian country to fare worse, with values there dropping 5.7 per cent in the same period.

Overall, Singapore had the eighth biggest price decline among 56 global residential markets tracked by the Knight Frank Global House Price Index. Ms Alice Tan, director and head of consultancy and research at Knight Frank, said yesterday: “Prospective buyers remain cautious against the backdrop of existing cooling measures and… anticipate further price correction.”

More falls in prices and rents are expected due to a range of factors, including more completed homes hitting the market, impending interest rate hikes and a faltering economy, both here and overseas, she added.

The Knight Frank Global House Price Index – which is compiled quarterly with official statistics where available and weighted by gross domestic product (GDP) – posted a marginal 0.1 per cent growth. It was the weakest growth rate since the final quarter of 2011.

Among the 56 housing markets tracked, 27 per cent recorded an annual decline in prices, said Knight Frank. “Lingering concerns over the euro zone economy, jitters in global stock markets and discussions of when, not if, a rate rise in the United States occurs are impinging on growth,” the property consultancy said in a statement.

Hong Kong topped the table with a 20.7 per cent year-on-year price growth, thanks to increasing liquidity and the flow of wealthy Chinese investors into its sector.

Dubai was at the bottom of the index, with prices weakening 12.2 per cent year-on-year due to weaker demand, a strong US dollar and ongoing cooling measures.

Knight Frank noted that the housing markets in China and the US – two countries which together account for about 33 per cent of global GDP – are on divergent paths.

Mainstream prices in China are down an average of 6.2 per cent from the start of last year, while those in the US are up 7.6 per cent.

http://www.straitstimes.com/business/spore-private-property-prices-fall-32-for-q2

Freehold shops for sale @ Paya Lebar Below $600K

Freehold Shop at Paya Lebar Regional Centre.
Face main road/entrance/bus-stop/water point.
Tenanted $1900 pm.

Call David for more details @ 94772121

http://www.sgbayhomes.com/19270612

Grandlink Square is a commercial property located in 511 Guillemard Road in district D14. This commercial space is primarily used for Mall Shop rental and sale. This Mall Shop space is 0.45 km away from Paya Lebar MRT Station/Interchange. The tenure of this commercial property is Freehold.

Amber Park Goes Enbloc in June

The residential collective sale market may be quiet but this is not deterring residents of Amber Park condominium in Katong.

They are putting it up for tender by going en bloc on June 7 with a reserve price of $743.9 million. This works out to a land cost of $1,225 per sq ft per plot ratio, given the 213,676 sq ft site with a plot ratio of about 2.8.

Assuming an average unit size of about 753.5 sq ft, the site could yield 794 units, far more than its current 200, he added.

Completed in 1986, it comprises 192 units of 1,744 sq ft each and eight two-storey penthouses of 3,789 sq ft each.

This is its third attempt at going en bloc. The first in 2009 was hampered by the global financial crisis; the second in 2011 came very close. While over 80 per cent of owners by share value were in favour, fewer than 80 per cent were in favour by strata area – 79.6 per cent, or one unit short, said Mr Lim Lian Seng, chairman of the collective sale committee.

Nearby, Amber Towers – the site of upcoming Amber Skye – was sold en bloc at $1,118 psf in 2011. It is smaller at 40,708 sq ft and, as of April 30, its developers have sold 10 of 109 units at an average of $2,020 psf.

Amber Park will be a less than five minutes’ walk to the future Amber MRT station on the line.

http://business.asiaone.com/news/amber-park-condo-goes-en-bloc-june#sthash.GpG1i51X.dpuf

PORTFOLIO of nine freehold shophouses and two 9,999-year leasehold strata shop units is up for sale #sgbayhomes

A PORTFOLIO of nine freehold shophouses and two 9,999-year leasehold strata shop units is up for sale to a single buyer.

The seller is The Bamboo Group, a six-year-old boutique property investment and development company specialising in repositioning shophouses.

With a total floor area of 31,774 square feet, the portfolio has an indicative price of S$77 million and is up for sale through an expression of interest (EOI) exercise being conducted by Cushman & Wakefield. The offer will close on May 21.

Included in the portfolio are five two-storey conservation shophouses along Tanjong Katong Road and three shophouses along South Buona Vista Road. The Tanjong Katong Road properties comprise No 362 (at the junction with Wilkinson Road) and four adjoining properties at No 332, 334, 336 and 338 (at the Branksome Road corner).

Along South Buona Vista Road, two adjoining properties, No 30 and No 32, are available along with No 38 a few doors away.

Under the Urban Redevelopment Authority’s Master Plan 2014, all these eight shophouse properties are zoned “residential with commercial at first storey” and have a 3.0 plot ratio (ratio of maximum gross floor area to land area).

The ground-level space in the shophouses is either leased to or approved for use as food and beverage/retail outlets.

The upper level contains furnished boutique residential studio units with tenancies of six months or longer.

Also part of the portfolio is a corner freehold two-storey shophouse at 101 Soo Chow Walk, off Upper Thomson Road and a stone’s throw from the future Upper Thomson MRT Station. Zoned for commercial use within a two-storey envelope control streetblock plan, the property has five shop lots on the ground floor and a single large shop lot on the upper floor. Negotiations are ongoing with potential tenants.

The final component of the portfolio for sale comprises two adjoining corner strata commercial units at 1 & 1B Figaro Street, at the junction with Jalan Tua Kong. The units have two separate titles with 9,999-year leasehold tenure. Both units are leased.

No new eateries in 7 areas including Kampong Glam and Upper Paya Lebar

The Urban Redevelopment Authority (URA) has banned more new restaurants from setting up shop in seven locations to prevent parking problems from worsening. The new locations add to the URA’s list of areas where no additional eateries are allowed. There are now 18 areas on the list which was first started in 2002.

We look at four things about the move to rein in problems faced by residents in areas with many popular food joints:

1. Which are the seven new areas which now come under the URA restriction?

– Changi Road: Jalan Eunos/Still Road to Jalan Kembangan/Frankel Avenue

– Upper Paya Lebar Road: Lorong Ah Soo to Paya Lebar Crescent

– Bukit Timah Road/Dunearn Road: Binjai Park (Jalan Jambu Mawar To Jalan Jambu Ayer); Bukit Timah Road (Wilby Road to Elm Avenue); Bukit Timah Road (Anamalai Avenue to Fourth Avenue)

– Sembawang Road: Mandai Road to Transit Road

– Kampong Glam: Bounded by Victoria Street, Jalan Sultan, Beach Road and Ophir Road

– Kampong Bahru Road/Spottiswoode Park Road: Blair Road to Everton Road; Everton Road to Neil Road

– Jalan Riang

2. Which are the areas which are already on the list?

– Balestier Road: Thomson Road to Moulmein Road

– East Coast Road: Joo Chiat Road to Still Road; Still Road to Telok Kurau Road; Lothian Terrace to Siglap Road

– Joo Chiat Road Area: Joo Chiat Road (Changi Road to East Coast Road); Joo Chiat Place (Joo Chiat Road to Still Road)

– MacPherson Road: Woodsville Interchange to Kallang Pudding Road

– Upper Serangoon Road: Tampines Road to Lim Ah Pin Road

– River Valley Road: Zion Road to Kellock Road

– Geylang Road: Lorong 1 Geylang to Paya Lebar Road

– Tanjong Katong Road: Dunman Road to Mountbatten Road

– Greenwood Avenue: Junction Of Greenwood Avenue And Hillcrest Road

– Sembawang Road: Jalan Mata Ayer to Yishun Avenue 5

– Serangoon Garden Way: Kensington Park Road To Maju Avenue; Chartwell Drive To Penshurst Place

3. What’s the impact of the URA restriction on some of the areas on the list?

Joo Chiat

In Joo Chiat, traffic woes led the URA to stop issuing dine-in licences in 2008 to new eateries – unless the premises was originally marked for such use. Road dividers were installed to stop illegal parking.

Read the story here: URA firm on dine-in ban in Joo Chiat

Serangoon Gardens

The middle-class housing estate is packed with restaurants, coffee shops and cafes, as well as the popular Chomp Chomp and Serangoon Garden hawker centres. Acting on residents’ complaints, the URA imposed a ban in February 2012: No more Serangoon Garden shophouses can be turned into food joints.

Read the story here: Restaurant ban to ease traffic at Serangoon Garden

Sembawang 

Some 24-hour eateries were asked to close earlier following complaints from residents about noise, littering and parking woes.

Read the story here: Restaurant appeals against restrictions on opening hours

4. What about popular areas which are not on the URA list? Any measures in place?

The URA and other relevant authorities have also taken steps to address noise and traffic concerns in areas which are not on its list.

In Tiong Bahru where eateries and cafes have sprung up in recent years, the URA and Housing Board have turned down some new applications to turn shop premises into eateries. Residents have complained about noise, traffic and fewer shopping options.

Read the story here: Govt keeps lid on eateries in Tiong Bahru

In Yio Chu Kang Road, some restaurants were ordered to close after they failed to do enough to address complaints from residents despite being granted a grace period to fix the problem.

– See more at: http://www.straitstimes.com/news/singapore/more-singapore-stories/story/no-new-eateries-allowed-7-areas-4-things-know-about-the-#xtor=CS1-10

Resale volumes of condos plunge in Q2 ’14

In yet another sign of a stalemate between buyers and sellers, resale volumes of private condominiums have fallen to levels last seen during the Global Financial Crisis, with the bloodbath of declines seen splattered islandwide.

While sellers with strong holding power seemed unwilling to let go of their units at much-lower prices, District 18 in the east and District 27 in the north appear to have held up well in resale volumes for the second quarter.

District 18, which comprises Tampines and Pasir Ris, saw resale volumes inch up 5.6 per cent in the second quarter this year to 57 transactions compared to the year-ago period before the total debt servicing ratio (TDSR) kicked in on June 29, 2013.

Resale volumes of private condos in District 27, which covers Yishun and Sembawang, were flat at 18 transactions in the second quarter, compared to the same quarter last year.

Their resilience came against a plunge in resale volumes islandwide.

Total resales of private condos stood at 1,314 units in the second quarter, accounting for 31.9 per cent of all private non-landed residential transactions. This is moderately higher than the 29.9 per cent in the same quarter last year but lower than the 40.9 per cent in the fourth quarter of 2012.

District 7 comprising Middle Road and Golden Mile and District 19 covering Serangoon Garden, Hougang and Punggol saw the biggest falls in resale volumes across districts. Transactions in District 7 fell to two units in the second quarter from 12 in the second quarter last year while that in District 19 plummeted to 57 units from 164.

The comparisons of resale volumes before and after TDSR are based only on caveats lodged, which typically represent some 80 per cent of the market. This illustration excludes new sales as they are driven mainly by new launches that may not have taken place in certain districts. The heterogeneity of property units also prevent direct comparisons on price movements over time without controlling for quality differences through constructing an index, a weighted scheme or tracking repeat sales.

Nicholas Mak, executive director of SLP International, noted that much of the resales caveats were for family-size units. “The marketing activities of new projects in that district could have attracted buyers, who may have later decided to buy resale properties as they were cheaper in per square foot (psf) terms.”

New launches in District 18 included City Developments’ Coco Palms in Pasir Ris, which has moved over 560 units at a median price of S$1,020 psf since its launch in May. MCC Land managed to sell more than 100 units at The Santorini in Tampines since its launch in April at a median S$1,113 psf, according to URA’s developer sales data. In comparison, median prices of resale units in District 18 stood at S$897 psf in the second quarter.

The lack of new launches in certain districts could also have the converse effect on the resale market – as seen in Districts 19 and 12 (Balestier, Toa Payoh, Serangoon), Mr Mak added.

R’ST Research director Ong Kah Seng noted that buying interest for homes in Pasir Ris is supported by well-tested leasing demand, especially from the Changi Business Park. The decentralisation of the banks’ non-core back-office operations to the business park and increased foreign professionals in the technology sector have also expanded the potential tenant pool in the eastern part of Singapore, he noted.

At the other end of Singapore, District 22 (Jurong) also registered a marginal 4.3 per cent year-on-year drop in resale transactions of private condos in the second quarter, possibly finding some support from renewed interest in the area given URA’s masterplan to transform Jurong Lake District, consultants observed.

All transactions (new sales, resales and subsales) involving private condos have slumped 40.7 per cent year-on-year in the second quarter to 4,118 – similar to the levels last seen during the 2008-2009 Global Financial Crisis.

Based on the URA property price index for non-landed homes, prices of private condos transacted in the second quarter have fallen to levels last seen in the fourth quarter of 2012. Prices in the Core Central Region (CCR) fell by a larger magnitude to a level similar to that in the fourth quarter of 2010.

OrangeTee head of research and consultancy Christine Li noted that the drop in foreign purchases due to the additional buyer’s stamp duty (ABSD) has hurt the CCR market segment, as foreign buyers make up a significant portion of this segment.

“Secondly, the implementation of loan restrictions such as loan-to-value limits and the TDSR framework have hurt properties with high quantums,” she added. “As such, CCR properties have not held up as well as RCR (Rest of Central Region) and OCR (Outside Central Region). This trend is likely to persist until current cooling measures are tweaked.”

But given the exuberant run-up in property prices since the second half of 2009, sellers who sold their units recently are unlikely to have suffered a loss, though they could be making less profits than if they had sold their units last year, consultants noted.

A random sampling by SLP International on resale transactions in the second quarter showed that most of the sellers did not incur losses in the resale market because a majority of them bought their units more than three years ago when the prices were cheaper and they did not have to pay the seller’s stamp duty for properties that they have held for more than four years.

BT_20141007_LKMAP_1304586 BT_20141007_LKMAP7A_1304814

http://www.btinvest.com.sg/dailyfree/resale-volumes-private-condos-plunge-20141007/

Katong Studio at $2.xK for two year lease

For Rent  –  91 Marshall (D15)

Looking to stay in the quiet enclave of katong homes?

Located in the quiet street of Marshall Road, this apartment is newly built with luxury fixtures and fittings. With a high ceiling of 4.8m, this is a ideal home for a single/couple with a large space in the area.

With the long Pool at the same level #02, there is a nice rooftop with BBQ pit and Rest area with katong views. Minutes to schools like Tanjong Katong Primary, Tao Nan Primary, Haig Girls, and other reputable/international schools.

Partially Furnished/Fully Furnished options avail.
Call King now at 94772121.

S$ 2,388 / month   |  S$ 6.33 psf   |  377 sqft (35.02 sqm)   |  Fully Furnished    |  1 Bed   |  1 baths

http://www.sgbayhomes.com/18346960

SAMSUNG CSC SAMSUNG CSC SAMSUNG CSC SAMSUNG CSC SAMSUNG CSC SAMSUNG CSC SAMSUNG CSC SAMSUNG CSC SAMSUNG CSC SAMSUNG CSC SAMSUNG CSC SAMSUNG CSC SAMSUNG CSC SAMSUNG CSC SAMSUNG CSC SAMSUNG CSC

Grand Duchess for rent

Grand Duchess at St Patrick’s is a freehold development located at Saint Patrick’s Road. This low-rise development has 8 storeys and comprises of 121 units completed a few years ago.

http://www.sgbayhomes.com/18382518

Condo Facilities at Grand Duchess at St Patrick’s

Grand Duchess at St. Patrick’s has full facilities, which includes covered car park, fitness corner, game room, gymnasium room, Jacuzzi, lap pool, lounge, multi-purpose hall, pavillion, 24 hours security and swimming pool.

Condo Amenities near Grand Duchess at St Patrick’s

Numerous bus services are available which compensates for the absence of a nearby train station. Several schools are located in the vicinity, including the prestigious Victoria Junior College and Chatsworth International School. In addition, numerous restaurants and eating establishments are sprawled across the area.

Residents can buy their daily necessities at the Marine parade Market and Food Centre or Siglap Centre shopping mall, which are located within walking distance. Recreational facilities located nearby include Parkland Golf Driving Range, and the East Coast Park, which is just a short walk away. In addition, East Shore Hospital is but a short drive.

For vehicle owners, travelling to the business hub and the vibrant Orchard Road shopping belt takes less than 20 minutes, via East Coast Parkway.

Luxury Patio unit in East Coast Area now available for rent at $9K per month.

Call King @ 94772121 for more details.

Mountbatten suites at $720K (Freehold for sale)

Katong is the evergreen residential estate in Singapore. Mountbatten Suites is a low-rise development near the eateries of Katong. Minutes drive to CBD, Orchard Road and Airport, 441 sqft. Vacant now. Great investment choice in D15. Asking only $720K. Now with the announcement of the TEL line, the potential in the area is tremendous. The nearest station is at nearby Amber Road.

Call 94772121 for more details.

Mountbatten suites20140330-171534.jpg 20140330-171548.jpg 20140330-171517.jpg 20140330-171502.jpg 20140330-171422.jpg