Private Property prices......still up or down? Part II

[Mercs]

Seaside residences, 99LH, hit >2000pfs

 

prices of some of the new condos are hitting quite incredulous prices again

 

these are much higher than many of the prime condos

22 APR 2017 15 SEASIDE RESIDENCES 10 SIGLAP LINK APARTMENT 99 YEARS LEASEHOLD 506 STRATA 2,012 1,017,720 22 APR 2017 15 SEASIDE RESIDENCES 10 SIGLAP LINK APARTMENT 99 YEARS LEASEHOLD 506 STRATA 2,004 1,014,000

Yes bro, that's why I've said, with a supposedly 'down' market, we have high land bids and record psf selling prices ... go figure!

 

Like that how to durian? Those still waiting , continue to wait a little more longer hor!

 

Developers all land hungry, land bids prices only gonna go 'UP' ... and with that, new launch prices will also be 'UP'

 

[Mercs]

"Highest private home sales in 15 quarters"

"Unsold inventory of uncompleted private homes hitting a record low"

 

Huat ah!

 

http://www.straitstimes.com/business/property/pace-of-decline-slows-amid-property-slump

Apr 29, 2017

 

Prices fell across the private residential, commercial and resale public housing segments in the first quarter, with the losing streak for private homes extending to 14 quarters - the longest slump in 13 years.

 

But analysts said the slower pace of decline and brisk sales in the first quarter suggest the market could bottom out this year.

 

 

Sentiment has turned more positive in recent months - owing to the easing of cooling measures last month and an improvement in the economy - drawing buyers back.

 

Lawyer Ng Wymin, 53, told The Straits Times he is considering buying another apartment, after the purchase of a three-bedder in OUE Twin Peaks last year. The Malaysian said: "I am certain it is the right time now. The market has been down for the last three to four years. There is value in residential properties in Singapore, especially in the city area."

 

The first quarter saw the highest private home sales in 15 quarters at 5,202 units - including 2,962 new sales but not counting executive condos (ECs), and 2,170 resale transactions. Healthy sales led to unsold inventory of uncompleted private homes hitting a record low of 15,930 units, excluding ECs, as of March 31.

 

"Barring any sudden deterioration in economic conditions, (sales) volumes are expected to continue to grow as market sentiment remains bullish."

 

 

Despite the overall dip in private home prices, there are pockets of recovering segments. Condo prices stayed flat from the fourth quarter to the first - the first time in 14 quarters that the non-landed price index was stable.

 

In the non-landed private home segment, values rose 0.3 per cent in the city fringe and 0.1 per cent in the suburbs, amid strong demand for new launches. But prices of homes in the core central region fell by 0.4 per cent.

 

Landed home prices fell by 1.8 per cent in the first quarter from the last three months of last year, reversing a 0.8 per cent rise from the third quarter to the fourth last year.

 

"The demand for landed housing is curtailed by the property market curbs and the restrictions on foreigners purchasing this type of real estate."

[Sowfat]

Never, this was implemented to stay, same as 2nd timer HDB resale levy. However there are still earlier batch of ECs that not involved with resale levy. Feel free to PM me for move info. Cheers

 

 

Wonder when will they remove the resale levy for 2nd timer for EC.

[Voodooman]

Uncle I say srx correct..... u also not happy...

 

Btw, nus index is based on resale. Nus also wrong lah

 

Then u will say nus based on limited basket of properties... alamak, like that unless do the same as srx, No way to compare.

 

But wait.... srx based on private Property Agent data. How to do the same?? Srx very clever, like that no one can say they wrong. Srx always right.

People will believe what they want to believe in.

 

Market is supposedly recovering, don't ka jiao lah. All waiting to offload.

[Mercs]

https://www.theedgeproperty.com.sg/content/six-transactions-more-1-mil-profit-each

Six transactions with more than $1 mil in profit each

Apr 30, 2017

 

Six private non-landed houses were each sold for more than $1 million in profit in the week of April 11 to 18.

 

On April 11, a 2,713 sq ft unit at Warner Court in prime District 10 fetched the week’s biggest profit of $2.1 million. The seller, who bought it for $1.39 million ($512 psf) in July 2003, sold it for $3.5 million ($1,292 psf). The profit works out to 152%, or 7% a year over 14 years.

 

A 2,540 sq ft unit at Leonie Gardens in prime District 9 fetched the second-biggest profit of $1.68 million for the week of April 11 to 18. The unit was bought at $1.4 million ($551 psf) in February 1999 and sold at $3.08 million ($1,212 psf) on April 13. The profit works out to 120%, or 4% a year over 18 years.

 

A 1,841 sq ft unit at Balmoral Hills in prime District 10 fetched a $1.39 million profit on April 11. It was the third-biggest profit of the week. The seller had bought the unit from the developer at $2.32 million ($1,260 psf) in March 2006 and sold it at $3.7 million ($2,015 psf). The profit works out to 60%, or 4% a year over 11 years.

 

On April 13, a 1,335 sq ft unit at Park Infinia at Wee Nam fetched the week’s fourth-biggest profit of $1.24 million. The seller had bought it from the developer at $1.1 million ($829 psf) in November 2005 and sold it at $2.35 million ($1,761 psf). The profit works out to 112%, or 7% a year over 11 years.

 

The other two transactions in the week that fetched million-dollar profits involved units at Nineteen Shelford Road in District 11 and Charming Garden in District 10.

[Mercs]

Huat-ers and non huat-ers, Apr 11 to 18

 

[Mercs]

https://www.theedgeproperty.com.sg/content/5-most-common-questions-real-estate-agent-gets-asked

5 Most Common Questions a Real Estate Agent Gets Asked

April 30, 2017

 

2. Is now a good time to buy?

 

If one were to objectively read into the real estate market and its various sub-segments, not all segments are down at the same time. For example, the luxury end of the market saw many prime homes change hands over the past three quarters, and while prices for the middle-upper tiers may have come off a little for the past several quarters, the corresponding volume of sales resulting had increased disproportionately more. These, in my view, are among several indicators suggesting a market perception of price rationalisation and sensibility.

 

 

Most share this view, though some remain skeptical that the market has not bottomed-out yet. They feel that there are many macro-economic factors that have not completely unfolded, e.g. The Trump Effect, Brexit, tensions in the South China Sea etc. While these viewpoints hold truth, the reality in these fluid times are that new factors/challenges will present themselves. Seasoned real estate watchers will know not to get sucked into “Analysis-Paralysis”.

[Mercs]

http://www.straitstimes.com/business/property/the-science-behind-investing-in-property

The science behind investing in property

Apr 30, 2017

[Stary]

URA wrong lah. SRX says going up for a few months liao...

 

I don't know what you are trying to say, but I see that for URA and SRX their data are pretty consistent. 

 

SRX says going up a few months . URA data did show non-landed RCR and OCR has a positive Quarter in Q1 17 which means they must have been going up a few months from Q4 16 in order to rake up a positive Q1 17.

 

 

Edited April 30, 2017 by Starry

[tenyawph]

130 units at Redhill's Artra sold over the weekend

 

http://www.businesstimes.com.sg/real-estate/130-units-at-redhills-artra-sold-over-the-weekend

 

The showflat was open for viewing on 15 Apr and sales started on 29 Apr 2017.  Out of a total of 400 units, 200 units were launched and 130 units were sold over the weekend.  Artra is a mixed residential/commercial development, whose land was bid and won at a relatively lower price of $851 psf ppr, compared to other nearby new developments:   The commercial anchor tenant is believed to be NTUC Finest. 

 

 

The biggest attraction of Artra condo will be the walking distance to the Redhill MRT; it is virtually right at the door-step!

 

However, buyers will be advised to buy units facing the north direction, as units facing the south direction is facing the MRT station directly, even though a soundproof barrier will be constructed by the developer to minimise the track noise as trains accelerate or de-accelerate at the station.   

 

This sales launch of Artra condo is reminiscent of the sales launch for Alex Residences in Nov 2013.  Back then, 200 units (same number) were launched and 150 units were sold over the weekend . 

 

The average price for the 130 units is $1,700psf. This is a tad higher than the $1,650psf achieved for the 150 units sold for Alex Residences.   Due to the lower land price bid vis-à-vis Alex Residences ($970 psf ppr),  the profit margin for the Artra developer is much higher.  

 

However, a successful launch does not imply an eventual 100% sold-out outcome. Currently, Alex Residences is only 70% sold, with a looming ABSD penalty of 10% (plus interest) to be paid if Singland (developer of Alex Residences) cannot sell every unit by Dec  2017 (land was procured on 11 Dec 2012). 

 

Will interest for Artra condo die down after this initial successful launch?  It does look like it, based on the track record for Alex Residences.  Time will tell if sales for the Artra condo will outperform that of Alex Residences. 

 

Edited May 1, 2017 by tenyawph

[Throttle2]

[Newbie26]

mentioned earlier in the thread that artra 2 room will be hot though they face the MRT tracks due to connection to MRT directly

 

Bec it does not have 1 roomers, so overall take up looks lower than expected

 

Given time, think most units will be slowly taken up, again purely due to its MRT connectivity. There is a difference between 5-10 min walk to MRT and being directly connected to it. The challenge will be keeping the current price since 3 developments around it still have lots of unsold units. 1700pfs still lower than echelon ave price which is across the lane 

 

Its been said that NTUC, a childcare centre and other popular commercial units will be part of it

 

Similar development at Poiz residences at Potong pasir now close to 90% take up (sold 600 plus units) though TOP at least a year away

 

 

 

 

130 units at Redhill's Artra sold over the weekend

 

http://www.businesstimes.com.sg/real-estate/130-units-at-redhills-artra-sold-over-the-weekend

 

The showflat was open for viewing on 15 Apr and sales started on 29 Apr 2017.  Out of a total of 400 units, 200 units were launched and 130 units were sold over the weekend.  Artra is a mixed residential/commercial development, whose land was bid and won at a relatively lower price of $851 psf ppr, compared to other nearby new developments:   The commercial anchor tenant is believed to be NTUC Finest. 

 

 

The biggest attraction of Artra condo will be the walking distance to the Redhill MRT; it is virtually right at the door-step!

 

However, buyers will be advised to buy units facing the north direction, as units facing the south direction is facing the MRT station directly, even though a soundproof barrier will be constructed by the developer to minimise the track noise as trains accelerate or de-accelerate at the station.   

 

This sales launch of Artra condo is reminiscent of the sales launch for Alex Residences in Nov 2013.  Back then, 200 units (same number) were launched and 150 units were sold over the weekend . 

 

The average price for the 130 units is $1,700psf. This is a tad higher than the $1,650psf achieved for the 150 units sold for Alex Residences.   Due to the lower land price bid vis-à-vis Alex Residences ($970 psf ppr),  the profit margin for the Artra developer is much higher.  

 

However, a successful launch does not imply an eventual 100% sold-out outcome. Currently, Alex Residences is only 70% sold, with a looming ABSD penalty of 10% (plus interest) to be paid if Singland (developer of Alex Residences) cannot sell every unit by Dec  2017 (land was procured on 11 Dec 2012). 

 

Will interest for Artra condo die down after this initial successful launch?  It does look like it, based on the track record for Alex Residences.  Time will tell if sales for the Artra condo will outperform that of Alex Residences. 

 

[Invigorated]

mentioned earlier in the thread that artra 2 room will be hot though they face the MRT tracks due to connection to MRT directly

 

Bec it does not have 1 roomers, so overall take up looks lower than expected

 

Given time, think most units will be slowly taken up, again purely due to its MRT connectivity. There is a difference between 5-10 min walk to MRT and being directly connected to it. The challenge will be keeping the current price since 3 developments around it still have lots of unsold units. 1700pfs still lower than echelon ave price which is across the lane

 

Its been said that NTUC, a childcare centre and other popular commercial units will be part of it

 

Similar development at Poiz residences at Potong pasir now close to 90% take up (sold 600 plus units) though TOP at least a year away

Yes agree on slow take up as quantum is higher than the usual 1 million threshold. Take up will be gradual but pricing seems reasonable considering the proximity to MRT and amenities.

 

 

In other news, future potential in pasir ris especially with CRL?

 

 

"Sun, sand, sea: Resort living in Pasir Ris under HDB rejuvenation plans"

 

SINGAPORE - A picnic by the beach would be much easier in the next five to 10 years, when the makeover of Pasir Ris town is complete.

 

Instead of lugging a heavy picnic basket from home, park-goers from Pasir Ris and beyond can simply pick up food and drink at the many shops next to the MRT station, before taking a leisurely 10-minute stroll on an elevated "highway" to Pasir Ris Park, without having to stop and wait at traffic lights.

 

Too tired to walk? Cycling would be an option too, as the Central Greenway would feature bicycle paths on top of walkways. The ride would take five minutes.

 

The greenway would stretch 1.2km in total, running from Pasir Ris Park, through the town centre, and ending near the Tampines Expressway where the existing HDB project Costa Ris is. About 500m of it would be elevated above ground, with ramps connecting it to ground level.

 

This feature will make Pasir Ris Park, Singapore's only major coastal public park, even more readily accessible. Park-goers need only to hop on an MRT and take a short walk to get there.

 

The other coastal parks include East Coast Park, Changi Beach Park, Sembawang Park and West Coast Park.

 

The greenway was announced by the Housing and Development Board (HDB) on Saturday (Apr 29), as part of rejuvenation plans for Pasir Ris. The upgrading works will be the first major one for the town since flats there were built 30 years ago, and plans for it are now on display next to Pasir Ris MRT station for public feedback.

 

In explaining why the Central Greenway is a feature unique only to Pasir Ris, Dr Chong Fook Loong, HDB group director for research and planning, told The Straits Times that it is because Pasir Ris is the only estate in Singapore to have its town centre located within 500m of the regional park and coastal beach area.

 

For some households, it would soon also be possible to enjoy views of the park and the Sungei Api Api river leading to it. HDB plans to build 2,000 public housing units adjacent to the Pasir Ris Park. Details on when they will be completed are not yet available.

 

The new flats come on top of Pasir Ris' 29,500 existing public flats.

 

There will also be other treats in store for the current 110,600 residents of Pasir Ris, including the upgrading of four existing neighbourhood centres - Loyang Point, Elias Mall, Pasir Ris West Plaza and Neighbourhood 4 NC -as well as improved neighbourhood parks with more amenities such as new playgrounds, linkways and fitness corners.

 

Anew town centre is also on the cards.

 

Currently, there is one mall, White Sands, located next to the MRT station. There will now be a new mixed-use development in the area, which will comprise residential, retail and food and beverage outlets.

 

This development will also be integrated with an improved bus interchange - one that will come equipped with a dedicated pick-up and drop-off point for full-time National Servicement undergoing military training on Pulau Tekong.

 

The plans for Pasir Ris comes under HDB's Remaking Our Heartland (ROH) programme. Nine towns and estates have been identified for renewal. The blueprint for the rejuvenation of Punggol, Dawson, Yishun, East Coast, Hougang, Jurong Lake, Woodlands and Toa Payoh have already been released, with Pasir Ris rounding up the list. A budget for the Pasir Ris development has yet to be finalised.

 

Deputy Prime Minister Teo Chee Hean, an MP for Pasir Ris- Punggol GRC, said during the event: "The Remaking our Heartlands in Pasir Ris will improve our living environment further, provide more facilities and connectivity, and more opportunities for you and your family to grow here in Pasir Ris."

 

The exhibition at Pasir Ris will run till May 14, and feedback can be given on HDB's website at www.hdb.gov.sg/ROH.

 

http://www.straitstimes.com/singapore/sun-sand-sea-resort-living-in-pasir-ris-under-rejuvenation-plans

Edited May 1, 2017 by Invigorated

[tenyawph]

Currently, there is one mall, White Sands, located next to the MRT station. There will now be a new mixed-use development in the area, which will comprise residential, retail and food and beverage outlets.

 

 

 

The plans for Pasir Ris comes under HDB's Remaking Our Heartland (ROH) programme. Nine towns and estates have been identified for renewal. The blueprint for the rejuvenation of Punggol, Dawson, Yishun, East Coast, Hougang, Jurong Lake, Woodlands and Toa Payoh have already been released, with Pasir Ris rounding up the list. A budget for the Pasir Ris development has yet to be finalised.

 

 

 

This is one piece of good news for private developers looking to replenish their depleted land banks, especially when the land is next to a MRT station. 

 

The government is making all the right moves by rejuvenating many HDB towns to make Singapore more liveable.   Hmm....property prices in these nine towns should be boosted by these rejuvenations?   

[Mercs]

http://www.propertyguru.com.sg/property-management-news/2017/4/151481/property-tycoon-fined-for-building-wall-without-ura-permission

Property tycoon fined for building wall without URA permission

April 27, 2017

[Mercs]

http://www.straitstimes.com/business/property/austville-residents-seeking-compensation-for-alleged-defects

Austville residents seeking compensation for alleged defects

May 1, 2017

[Mercs]

http://www.propertyguru.com.sg/property-management-news/2017/4/151581/hdb-market-to-see-positive-growth-in-2h-2017

HDB market to see positive growth in 2H 2017

April 28, 2017

[Mercs]

http://sbr.com.sg/residential-property/news/guocoland-unveil-garden-type-luxury-condo-project-in-district-9

GuocoLand to unveil garden-type luxury condo project in District 9

Apr 24, 2017

 

https://www.theedgeproperty.com.sg/content/robertson-quay-revamp-sparks-investor-interest

Robertson Quay revamp sparks investor interest

May 1, 2017

 

Sales activity has picked up in the Robertson Quay neighbourhood — particularly in the vicinity of River Valley and Martin Road — in the lead-up to the preview of Martin Modern.

 

At RiverGate, for instance, a 1,507 sq ft, three-bedroom unit on the 37th floor of one of the three 43-storey towers was recently sold for $3.05 million ($2,024 psf), according to a caveat lodged on April 12.

 

On Rodyk Road, Watermark Robertson Quay saw an 883 sq ft, two-bedroom unit on the sixth floor sold for $1.58 million ($1,790 psf), according to a caveat lodged on April 12.

 

Meanwhile, there has been no new launch in the Martin Road-Martin Place area since Starlight Suites in 2010. The freehold, 105-unit, 35-storey tower was completed in 2014. The developer reportedly sold the remaining 23 units to Evia Capital last year for $48 million to avoid paying extension charges.

 

Adjacent to Starlight Suites is the upcoming Martin Modern, a 450-unit luxury project by GuocoLand. Martin Modern is expected to see healthy take-up when it is launched, says Benson Koh, managing partner of SRI.

 

While prices have yet to be released, PropNex Realty, a marketing agency for the project, is indicating an average price of $2,300 psf.

 

Last June, GuocoLand paid $595 million ($1,239 psf per plot ratio) for the 480,307 sq ft, 99-year leasehold site fronting Martin Place Residences in a government land tender. The site was hotly contested and drew 13 bids at the close of the tender.