High Park Residences

Recent media reports have said that Jurong Lake District property owners have cause to celebrate after an announcement was made regarding the location of the high speed rail terminus for Singapore choosing Jurong East as its location for High Park Residences.

Fernvale High Park Condo by CEL

Many consultants are expecting that the building of the new terminus will work to stimulate commercial and retail activity, as well as bring incentive for property prices for the vicinity. Furthermore, it has been noted that this district is situated well for taking advantage of the boost it will get from the terminus near High Park Residences.

Major MRT lines intersect in Jurong East, such as the upcoming Jurong Region Line, and the North-South and East West lines. Head of research for CBRE’s South-east Asia and Singapore sectors, Desmond Sim, points out that this interchange makes commuting much more convenient.

High Park Residences CEL Development

Also of note for this area is that it has become an affluent area for hunting up business spaces at locationa around High Park Residences.

Highpark Residences

Christine Li, research director for Cushman & Wakefield, has pointed out that Jurong Gateway will soon become a suburban area that is an excellent site for business services, company headquarters, technology, education and science sectors. Jurong Gateway offers a generous 500,000 square meters of offices, a retail area of 250,000 square meters, as well as 2,8000 hotel rooms and space for entertainments, beverages and food.

Some newcomers on the high speed rail line could include businesses from Malaysia, notably companies that are from areas like Batu Pahat, Nusajaya and Malacca.

General manager of Jem, a mixed use development, Jenny Knoo has said that concurrently, retailers have recognized how the Jurong area is hovering on the brink of attracting a much larger collection of office workers and shoppers with new developments that include the high speed rail terminal at High Park Residences.

High Park Residences Fernvale Road by CEL Development

One official from Mapletree Industrial Trust has stated that there is an expectation that, once the rail line is ready, its two buildings will see a higher demand for space at Fernvale High Park Condo CEL.

In March an award was given to one of MCL Land’s nearby condo sites. MCL Land is currently in the process of developing Jurong West Street 41’s Lakeville.

Koh Teck Chuan, a chief executive of MCL Land, also shared that he expects both projects to bring more buyers that are foreign to the area, given its vibrancy and larger accessibility for new condos near High Park Residences.

In 2015’s 1st Quarter, non-landed property prices in Jurong dropped by 8% from 2014’s 1st Quarter to and average of $947.15 per square foot, which was a result of cooling measured that the government had put in place at High Park Residences.

Mohamed Ismail, chief executive of PropNex Realty has shared that, in relation to those High Park Residences sales figures, an increase in the average non-landed rents over this same time period of 6% to $3.30 per square foot per month was recorded. He further added that it is expected that there will be a slow appreciation of this developing areas property prices over the coming decade.

Sol Acres EC

Local favorites are in Sol Acres are Cotton – for clothes Saba Fish – seafood Old Pontian Leaking The Rooftop Atrium – for the Kids Try Korean food at Food culture the international food court Keat Hong Shopping Center is also close by with some great food of its own for Sol Acres: If you want a malay style breakfast here is the place Mee Siam Chicken Chop Western Style dining Coffee shops Carrot cake Hairstyling

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Bellewoods Woodlands

Two shopping malls near Bellewoods Woodlands –Vista Point, located at Woodlands Drive 44 Road, and the large refurbished Causeway Point in the town centre of Woodlands, complete with cinemas, food court and bookstores, provide excellent opportunities for shopping, browsing, family outings and relaxation. Vista Park, Neighbourhood Park and Mandai Tekong Park are all in proximity, as is Woodlands Stadium, ensuring good prospects for sports activities, training and exercise programmes.
According to the Land Use Plan 2030 the Woodlands Regional Centre is allocated as a commercial hub outside of the Central Business District. This, in turn, will create a wealth of business opportunities and consequently – a thriving employment market within an easy reach for the residents of Bellewoods EC.

Bellewoods Woodlands

IThe interior decoration and design of the Bellewoods Woodlands units have been completed with three main objectives in mind – comfort, convenience and elegance.
One of the unique added benefits to the interior planning is the use of CoSpace layout. CoSpace is a designer model allowing flexibility and easy transformation of the living space according to the needs of the occupants for Bellewoods Woodlands via removing an existing wall or adding a new one. The possibility is incorporated in some of the floor plans designed for the units, which means that the buyers may be able put into action their own ideas and lifestyle preferences of what a particular space in the plan should be – a walk-in wardrobe or a closet, a study or a guest room, a utility or a play area.

Bellewoods EC at Woodlands

The occupants of Bellewoods Woodlands can reconfigure, combine, divide, join, separate parts within the living space, thus putting their own imagination to work and making their own input on the designing process. They may be are able to customise the space, decide on particular functions a specific room within the flat should fulfil to make the best use of it – in summary, add their own take on the allocation and arrangements of some of the rooms.

Bellewoods Woodlands Qingjian

Exterior design for Bellewoods Woodlands in addition to the prime location and superior internal design details, Bellewoods EC displays an attractive exterior space with innovative use of water features. Two main ideas –Waterfront and Garden Living Concept – have been amalgamated into the outdoor space with imagination and knowledge to create a unique combination of built and natural environment.
With the inclusion of a water effects and greenery the outdoor space is transformed into a serene area with the peaceful, restorative feel of a park. The impression is of an attractive open-air extension to the indoor living space. This inevitably will result in added value to the property itself and extra overall gain, as the units are seen not simply as living quarters, but as complete, family-orientated, children-friendly complex for living, working, recreation and fun.

Botanique Bartley New Condo

In a recent survey made by the biggest business graduate school in the world, Insead, has ranked Singapore 4th place by business talents globally for best cities in the world to work in as well as live in Botanique Bartley Condo.
According to a survey by Alumni, the United Arab Emirates’ Dubai, which has been dubbed the most cosmopolitan city, was chosen as the most attractive city to live in regard to private and professional life.

Botanique at Bartley near City

These reports back up data that was released by Insead, in their 2013 Global Talent Competitiveness Index (GTCI). The findings were done in partnership with Adecco and Human Capital Leadership Institute in Singapore, both of which listed the United Arab Emirates as being the region that attracted and retained talent ahead of the majority of economies that are oil-based in the Middle East and Gulf. They also ranked UAE as 19 globally.
This new study is the first to be undertaken by France’s Insead Alumni Association and has assessed and recorded 835 responses from the alumni of Insead that had experience in working internationally.

Quality of Life at Botanique Bartley

The study consisted of 4 sweeping factors that were assessed, taken from 30 benchmarks that dealt with personal and professional life. These 4 factors were:

Economic dynamism (access to funding, labor quality, etc.)
Quality of life (air quality, cultural and sports recreational facilities, etc.)
Cost of living (entertainment, dining, shopping, real estate, etc.)
City’s overall attractiveness (access to technology, youthful talent, etc.)

It was Dubai that topped the charts amongst 15 of the most prominent cities of the world as the best place to work near Botanique Bartley. Amsterdam came in 2nd, and Toronto 3rd. Singapore took 4th place as the best place to work, 1st place for economic dynamism, 4th place for cost of living and quality of live, and 3rd for overall attractiveness.

Botanique Bartley neat Bartley Town

The Associate Professor of Decision Sciences as well as director of Insead’s Abu Dhabi campus, Miguel Lobo has said that some may find it surprising to see Dubai as the top ranked globally the best place to work by the Insead Alumni Association. However, this comes as no surprise to Insead’s alumni and faculty for this region.
Insead has stated that the dynamism of Dubai is highly recognized by the key decision makers and business leaders of today. Many have chosen to work, live and become actively absorbed in this regions business environment.
It was pointed out that Singapore has been ranked highly in surveys on a regular basis as the top city to work and live globally, along with having the best cost of living.

Kingsford Waterbay

A recent media report has shown that, at October’s end, 645 sellers of HDB units have applied for a temporary extension which will allow them to remain in their old apartments.
This rule was alleviated by HDB on the 22nd of July as a way to assist those sellers who were in need of extra time to get their newly purchased Kingsford Waterbay renovated as well as to help those who were awaiting the sale of their old units and the funds they would need to move into the new flats. The authorities cooling actions that include the total debt to service ratio TDSR has reduce the potential for young families who are putting together their own new homes to loan the exact amount needed for their residential loans on Kingsford Waterbay Serangoon.

Kingsford Waterbay Units in Upper Serangoon

This new change in regulation for Kingsford Waterbay at Upper Serangoon can allow up to 3 months for a temporary extension of stay and must be agreed upon by both the buyer and the seller of the flat. It is also required that the extension request be submitted alongside the resale application to HDB. During this time the seller of Kingsford Waterbay must be able to prove that they have committed themselves to buying a completed home, which can be either an HDB or a private unit.

Kingsford Waterbay Serangoon

Arrangements of Units of Kingsford Waterbay

Any private arrangement must also be agreed upon by both the seller and the buyer, as is needed for a duration for the extension and any financial compensation.
Before this change was made, an HDB seller was required to vacate their flat upon the completion of sale, with other arrangements being made outside of regulations. Quite a few clients who are on the affluent side are actually on the lookout around for high-class properties in distress or are in fact marketed with volume discounts by the real estate developers for Kingsford Waterbay. Developers currently are more prepared to take discounts since they now have to pay for the development fees if units remain unsold after TOP. HDB believes that this new option will benefit close to 15% of resale transaction overall, affecting an estimated 2,700 households per year.SAMSUNG


Westwood Residences Koh Brothers

OUE LTD’s stated net attributable profits rose to $16.5 million a rise of 23.1% for the third quarter of 2014. Revenue however, was reduced at $106.3 million during the third quarter 2014 on the $119.1 million during the third quarter 2013 because of lower residential property sales and lack of a contribution from the China hotels.

OUE’S Property Development division’s revenue declined from $19.2 million in the third quarter 2013 to $11.8 million in the third quarter 2014 because of lower property sales at the Westwood Residences residential property project at NTU.

Singapore Household Owners Westwood Residences

OUE’s property investment division’s revenues also fell but not by much, revenues were $39.6 for the third quarter 2013 and 38$ million in the third quarter 2014, the 2013 revenues included those from the Mandarin Gallery, which is now held by OUE’s Hospitality Trust. 2014 revenues were boosted by revenues from Lippo Plaza which OUE Commercial Real Investment Trust in Westwood Residences bought during Quarter 1 2014.

Westwood Residences Koh Brothers

The Group’s net asset value when one looks at each share increased by 27.7% to $4.06 from $3.18 on 31 December 2013.

The Household Expenditure Survey 2012/13 shows that low income Singaporean households are spending more than they earn for Westwood Residences EC.

Homewners of Westwood Residences EC

Trade and Industry Minister Lim Hng Kiang, answering a parliamentary question from Mr. Gerald Giam, said that the poorest 10% of Singaporean households had an average expenditure of $1,844 per month. This was $801 more than the $1,043 average monthly income of those households in Westwood Residences by Heeton Homes at Westwood Avenue, with 55% of that income coming from work and the remaining 45% from investment income or regular government transfers. Numerous clients who are quite rich are actually hunting all around for top of the range real estate in distress or are actually offered with bulk discounts by developers. Real estate developers these days are more ready to accept discounts because they currently have to spend on development charges should units be left unsold after TOP.

The high reliance on income not derived from work could be because around 33% of these Westwood Residences households were the households of retired people, the minister said. The same survey showed the 80% of low income households owned their homes.

Symphony Suites

The government cooling actions such as the total debt to service ratio TDSR has decrease the capacity for young families that are organising their first homes to borrow the amount needed in view of their own home loans for Symphony Suites. A few of these prospective buyers are looking at private homes but TDSR restrictions has prevented them from buying their new homes in Yishun.

Symphony Suites Yishun EL Development

Many potential buyers for Symphony Suites who are on the affluent side are actually on the lookout all around for top of the line real estate in distress or are in fact selling with bulk discount rates by developers of Symphony Suites Yishun. Developers these days are more open to discounts since they currently have to pay more for development costs if units remain unsold after TOP.

Symphony Suites Yishun

Symphony Suites

Due to their tenure of the land, freehold condos are usually more desirable to buyers inside the open resale market as compared with leasehold properties such as Symphony Suites Condo. Even so, the somewhat high asking purchase prices of these freehold properties could easily have contributed to an increase within the number being set up for auction.

Symphony Suites

New Yishun Condo Symphony Suites

Selling prices of private properties in Singapore consistently cool but in a reduced pace as shown by Urban Redevelopment Authority (URA)’s report. Some may be also still looking at profits if they made their very own investments within the earlier cycle.“Many those who own private residential homes these days have gained resulting from robust capital equity gain from the previous cycle.

grade A CBD rent rises

Much for pre-leasing activity is predicted to be built in greater-quality buildings and the rent growth is to be led by grade A.

Grade A CBD rent rises

It is noticed that the uptick in CBD leasing activity in 2013 has to be continued with the same momentum next year. While European and U.S. banks’ office demand may take longer time to return. It has been observe that the strengthening interest from Asia and Pacific financial institutions and mostly from the Japanese banks.

Existing Grade A constructions are now full or over 95% of them are occupied. The majority of new lettings are mainly from buyers of less than 30,000 sq feet.

Banks Lease contribute to rent rise

Angela Tan, the DTZ’s regional head has said that some Japanese banks such as Norinchukin, Mizuho and SMBC are expanding in Singapore. He also added that from the Japan offices have reports that other major Japanese banks are willing to enter the Singapore market.

The CBRE data has shown the 2013 is going to end with a 2% rent rise in monthly average rental value for CBD core (Grade A) office space to $9.75 per sq feet, stagnation in first 3 quarters at $9.55 per sq feet. CBRE’s CBD Core (Grade A) baskets cover the greater quality office buildings in Marina Bay, Marina Center and Raffles Place.

According to JLL’s data, 2013 is going to end with nearly 1 to 1.1 million sq feet net increase in island wide office, 30% shy of 20 year average annual take up of 1.6 million square feet and nearly half of the two million sq feet last year.

Weaker demands from FIs’ front operations is also behind contraction in average office lease-size for major new projects of about 57,000 sq feet in 2010 to 18,700 sq feet in 2011 and about 23,800 sq feet in the year 2012. It is been predicted that the figure for 2013 will be same as last year, but it will start increasing next year, as the island wide total increase in office demand to rise around 1.4 to 1.6 million sq feet, as Singapore’s positioning and Asian’s economic growth are the hub for various industries.

55,000 sq feet leased to SCB (Standard Chartered Bank) will be available next year at Six Battery Road. About 50,000 sq feet of excess space is bought by Barclays in Marina Bay Financial Center Tower 2, around 29,000 sq feet at the Eightrium@Changi Business Park which might be available in March.

supply of sites trimmed

The Ministry of national Development (MND) has decided to moderate the Government Land Sales (GLS) Programme in an effort to minimize the chances of fueling the market any further. With the supply of sites trimmed, the “Play Safe” list issued by the ministry containing the state land sites on offer for private homes and executive condominiums will be lower than the number for the H1 this year. The number of such sites in the reserved list is lower but the rise in number in the reserve list has ensured that the overall supply of land remains same.

Supply of Government Land Reduced

14,155 units are available under the GLS Programme, which is quite close to the figure of 14,035 for the first half of 2013. Among the total list, 5,960 land sites are for the private homes and ECs under the confirmed list, with this being the lowest supply in the confirmed list since H1 2010 with 2,925 units. This is also a reduction of 14 percent over the H1 2013 figure of 6,935 units. Moreover, the supply of private homes only in H2 2013 is lower by 17 percent at 3,175 units compared to 3,825 units in the first half of the year, excluding the ECs. Even the full year figure of 7,000 private homes is considerably lower when compared to the figures in 2012 and 2011 at 8,060 and 13,255 units respectively.

The decision by MND to keep the overall supply of sites trimmed and ECs at 3,320 units in H2 compared to 3,110 units in H1 has surprised market watchers. This is because MND had trimmed the number of ECs to 2,875 units in H2 in an effort to prevent fueling of the market any further. A spokesperson for the Housing and Development Board (HDB) has clarified the MND’s policy on EC by stating that the release of EC sites in an effort to prevent any situation of undersupply. Since any such situation can drive up prices because of pent-up demands, it is up to the developers to bid for the sites after factoring market risks, and then price their units properly for the buyers.

Lesser pieces of land available in the pipeline

MND has also kept the number of prime sites in the list in check to prevent exuberant land bids. The decision to close the bid close to a year from now will also help in tempering bids because of greater physical completion of such projects. Development of a commercial site in the Woodlands MRT station region will help in initiating development of the Regional Centre there. On the hotel front, developers now have only three sites on the reserve list with potential to yield 955 rooms after the withdrawal of the Victoria Street site from the list.

With the supply of land trimmed, the Hillford in Jalan Jurong Kechil might be an attractive investment due to the fact that it is near to the upcoming Beauty World MRT as well as the fact that the prices are very low for the development.

lesser bto flats

The recent ramp up construction of BTO flats might soon be a thing of the past as Singapore seems to reach the point where supply meets demand. This can be seen in the recent market measurements such as BTO application as well as COV which sees demand soften especially in the recent months.

BTO Flats

According to statistic, the government has been building BTO flats at an accelerated pace in the past 3 years to meet demand. Demand for BTO flats have always been on the high side in the city state as public housing seems to be only the affordable option for the mass Singaporeans. As can be seen in the resale data, Cash over valuation (COV), one of the most important data for a general measure of demand of HDB flats, saw a downward trend since the start of the year. The median COV in October was $12,000, a far cry of $35,000 at the start of the year.

Less Demand for BTO Flats

Also, another measure to see the demand of HDB flats is the number of units of HDB sold below valuation. HDB has mentioned that 105 units were sold below valuation in October. This works up to be 7% of the resale volume. Comparatively, the percentage of units sold below valuation was only 0.3 percent in the first half of the year.

With that mentioned, the number applicants per BTO flat has also dropped drastically. According to the HDB, the application rate for BTO flats has dropped to 1.2 times compared to 25.9 times in Nov 2011.

Less COV for HDB resale flats

Lesser BTO flats will mean better market news for The Hillford Condo. This is because eventually property buyers might have to look at The Hillford condo if they are not able to get a HDB unit in Jalan Jurong Kechil area.