Privatised HUDC estates have gone en bloc - SRX

1) FARRER COURT

The 618-unit development remains the priciest en bloc deal by quantum to date. It went for about $1.34 billion in June 2007. The D'Leedon by CapitaLand current sits on the plot of land.

2) GILLMAN HEIGHTS

Now The Interlace (Located in District 4) by CapitaLand, the 607-unit development went for $548 million in February 2007.

3) WATERFRONT VIEW

The 583-unit development was sold for $385 million in May 2006. Currently four condos stand in its place: Waterfront Waves, Waterfront Key, Waterfront Gold and Waterfront Isle.

4) MINTON RISE

Back in January 2007, the 342-unit development went for $209 million. Today, a new condo, Minton located in District 19, occupies the plot of land.

5) AMBERVILLE

Far East Organisation paid $183 million for the the 168-unit development in January 2006. Far East has since built the Silversea condo on the plot of land.

Keen to upgrade to a new condo? 
Check out SRX Condo Directory srx.com.sg/condo

The Straits Times

Source: SRX (23 May 2016)

5-room Holland Drive flat fetches $968,000, most expensive in the area this year - AsiaOne

Friday, May 27, 2016

AsiaOne

SINGAPORE - Another Housing and Development Board (HDB) flat in the Queenstown estate has been sold for more than $900,000, becoming the sixth in the area to cross that mark this year.
The high-floor, five-room flat at Buona Vista Court fetched $968,000 in May, according to figures published on the HDB website, making it the most expensive transaction for a public flat in the area so far this year.
The 1,259.38 sq ft unit was completed in 2012, and is located between the 31st and 33rd storeys of Block 18C.
The price tag works out to approximately $769 per sq ft.
The property is close to both the Buona Vista and Holland Village MRT stations. The Star Vista shopping mall and the restaurants and bars in Holland Village are also nearby.

According to real estate portal The Edge, this is the highest transaction for a HDB flat this year excluding units at the Pinnacle @ Duxton, maisonettes and Design, Build and Sell Scheme (DBSS) units.
This is the second unit at the same block to fetch a high price in the past few weeks, continuing the recent trend of sky-high home prices in the area. In April, another five-room unit at Block 18C fetched $945,000.
This transaction also exceeds the $955,000 for another five-roomer at Block 18D of Buona Vista Court that was resold in March.
Meanwhile, May also saw another unit at Strathmore Avenue in Queenstown sold for $925,000, The Edge reported.

In 2015, a total of 15 five-room flats in the Queenstown area were sold for $900,000 or more.


seanyap@sph.com.sg

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Source: AsiaOne (27 May 2016)

Toa Payoh 5-room flat fetches $880,000, highest in the area this year - AsiaOne

SINGAPORE - A seven-year-old five-room Housing Board (HDB) resale flat in Toa Payoh was sold for $880,000 in April this year, a figure that made it the most expensive transaction for such flats in the area so far this year.
It is also the third-most expensive sale ever for flats in the Toa Payoh area. The runner-up is another five-roomer at the same block, which was sold for $894,000 in 2012, according to data on the Singapore government's open data portal.

However, the most expensive flat in the area remains the one that fetched $955,000 at Block 154, Toa Payoh Lorong 2 last year.
According to data published on the HDB website, the 1,184 sq ft unit is situated between the 19th and 21st storeys at Block 79C Toa Payoh Central, which is just across the road from the bustling Toa Payoh Central and HDB Hub.
It is also just 200m from the Toa Payoh MRT station on the North-South Line.

Real estate portal The Edge reports there have been a total of six five-room flats that have crossed the $800,000 mark so far this year.
In 2015, a total of 15 such flats were sold for $800,000 or more, according to data from HDB.
The latest data for April from property website SRX Property showed that resale prices of public flats inched 0.1 per cent lower in April.
However, a total of 1,828 units changed hands, the highest number since property cooling measures were introduced three years ago.


seanyap@sph.com.sg

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Source: AsiaOne (13 May 2016)

SRX: Rents for private homes performed better than HDB flats - SRX

The rental market softened last month after a brief spurt in March when new leases signed for HDB flats and private apartments jumped by double digits in percentage terms from February.

This slowdown was well within expectations, given that the inflow of foreign professionals tends to be higher at the start of the year, especially just after Chinese New Year, experts noted. Many corporates across industries are downsizing headcounts or letting go of professionals due to cautious economic times. It is also unlikely in mid-year or from April onwards that we will see a significant increase in expatriates seconded to Singapore, which would lend boost to fresh leases. Rentals of private homes are still negatively affected by increased private residential completions, which intensify competition among landlords.

Year on year, rental volume was higher for both segments - reflecting the changing nature of tenancies, where leases are as short as six months.

In terms of rental amounts, private apartment rents were unchanged last month after falling 1.4 per cent in March, while HDB rents fell 0.6 per cent after falling 0.4 per cent in March, according to flash estimates from SRX Property yesterday.

Both have been on a slide, owing to the rising number of home completions combined with little new demand from expatriates.

Rents in the core central region (CCR) were unchanged from March, rents in the rest of the central region (RCR) rose 0.1 per cent and rents in the outside central region (OCR) or suburbs fell 0.1 per cent. Year on year, rents are 5.4 per cent lower overall. CCR rents are down 1.9 per cent; RCR rents are off 8.2 per cent and OCR rents are 6.8 per cent lower.

HDB rents are falling as tenants have many choices, with increased private condominium completions since 2014 and more HDB flats up for sublet as their owners upgrade, said Mr Ong Kah Seng, R'ST Research director.

HDB rents fell 0.3 per cent in the mature estates and were down by 0.9 per cent in the non-mature estates in April. Year on year, rents in mature estates were 3.9 per cent lower and those in non-mature estates 4.8 per cent lower.

The number of private apartments rented out last month fell 10.3 per cent month on month to 3,953 but that was 10.5 per cent higher than a year back.

HDB rental volume fell 2.2 per cent from March to 2,048 but was 5.8 per cent higher year on year.

"Rents are getting very competitive. Any owners who try to keep to their previously transacted rents can be prepared to have difficulties renting out," Mr Lim added.


The Straits Times

Source: SRX (12 May 2016)

Resale condo prices, volume up again in April - AsiaOne

THE latest April data from SRX Property showed that prices and transaction volume of resale private apartments and condos have risen for two consecutive months.

Based on flash estimates for April by SRX Property released on Tuesday, prices in the Central Region increased last month, on a month-on-month as well as year-on-year basis. On the other hand, prices in the suburbs fell over both periods.

SRX Property's overall resale price index for non-landed private homes in Singapore rose 0.5 per cent in April 2016 over the previous month, based on its flash estimates for last month released on Tuesday.

This follows a 0.1 per cent month-on-month gain for March 2016 - a revision from the 0.3 per cent increase that SRX Property had indicated earlier based on its flash estimates for March. Year on year, the April 2016 index value was down 0.5 per cent.

The latest index is also down 7.1 per cent from its recent peak in January 2014.

Giving a geographical breakdown of the month-on-month performance of the index in April, SRX Property said that prices rose 0.7 per cent in the Core Central Region (CCR) and 1.3 per cent in the city-fringe or Rest of Central Region (RCR), but slipped 0.2 per cent in the suburbs or Outside Central Region (OCR).

The CCR and RCR posted year-on-year price gains of 3.2 per cent and 0.9 per cent respectively, while prices in OCR eased 2.9 per cent over the same period.

Savills Singapore research head Alan Cheong noted that since the start of this year, the firm's agents on the ground have noticed an increase in interest in the CCR.

"Notwithstanding reports that focused on the left tail of the price curve, they reported that transacted prices on average have been firm."

ERA Realty Network's key executive officer, Eugene Lim, noted that the price weakness in the suburbs was due partly to the large volume of supply in OCR. "Sellers not only have to compete with other sellers, but with developers that have unsold inventory."

Moreover, many investors had dabbled in small units in the suburbs during the 2011-2013 property boom and could be looking to offload their units due to the weak rental market, he added.

Tuesday's data release by SRX Property followed official government numbers for the first quarter that painted a similar trend, of greater price resilience in the Central Region compared with the suburbs.

Urban Redevelopment Authority's price indices for non-landed private homes (encompassing both primary and secondary market deals) in CCR rose 0.3 per cent in Q1 this year over the preceding quarter. In the RCR, URA's index was flat in Q1. However in OCR, the index slipped 1.3 per cent.

SRX Property estimated that 689 non-landed private homes were resold last month - up 17.6 per cent from the 586 units resold in March 2016. The latest figure is a three-year record since the last high of 726 units in May 2013.

Year on year, the resale volume in April 2016 was 28.1 per cent higher than the 538 units transacted in the same month last year. That said, last month's resale volume was 66.4 per cent lower than the peak of 2,050 units resold in April 2010.

Mr Cheong said that the improvement in transaction volumes suggests that there is still a ready pool of buyers in the resale market. ERA's Mr Lim highlighted that one of the attractions of picking up private apartments or condo units from the resale market is that units are typically larger, but with similar price quantums to new units.

"So buyers may feel that they are getting better value for money in terms of living space."

SRX Property said that the overall median transaction over X-Value (TOX) improved to negative S$9,000 in April 2016 from negative S$10,000 in March 2016.

The median TOX measures how much people are overpaying or underpaying against the computer-generated estimated market value or the so-called X-Value.

kalpana@sph.com.sg

This article was first published on May 11, 2016. 

Wednesday, May 11, 2016

Kalpana Rashiwala

The Business Times

Source: AsiaOne

How to decide what type of property in Singapore you should buy - AsiaOne

This article first appeared on The New Savvy's Which Real Estate in Singapore Should You Purchase
Buying property is a long term investment. When you're thinking of diving into real estate investment, it's better gather as much information on it as possible.

Perks of investing in Singapore's real estate
Just like in any part of the world, having a private property is a good decision as there are many benefits. For instance, the property cycle in Singapore over the last years indicates that there is a steady rise in real estate's value. This could bring in a nice profit after a few years of acquisition.

Alternatively, real estate investment can be a source of passive income. You can purchase a property and rent it out.



Type of real estate in Singapore
In real estate, you get to choose from many options. To know how each type of real estate differs from another, read ahead!

1. Build-To-Order (BTO)
BTO comes under the Housing and Development Board (HDB), Singapore. It's a responsive system, which allows Singaporean citizens to apply for flats at a location of their choice. Once 65-70 per cent of the flats are booked, the construction work begins. After the construction is completed, you will have to wait for some time before you can move in.

2. Design, Build, and Sell Scheme (DBSS)
Design, Build, and Sell Scheme (DBSS) is an incentive of the HDB system. DBSS is public housing scheme developed by private developers. The DBSS scheme offers more comfortable designs and better locations.

You can find DBSS projects in Tampines, Ang Mo Kio, and Bishan.

3. Executive Condominiums
Executive Condos (ECs) caters to young graduates and professionals who wants a property in between public and private housing. ECs are comparable in design and facilities to private condominiums as they are developed and sold by the private developers.

One main difference of ECs from BTO properties is, from the 6th to 10th year, EC's can be re-sold to those who are permanent residents. From the 11th year onwards, ECs will be open for both foreign individuals and locals.



What should you look for in each category of Singapore real estate?
When it comes to investing in real estate, it's a good idea to look at different factors. You should ask whether:
- You'll have easy access to MRT stations, schools, and other essential facilities.
- You can resell the property easily.
- You can afford it.

Costs of real estate in Singapore
What are the costs involved in buying a property in Singapore?

First, you have to check your stamp duty rate. Based on the market value of the property, you can compute for your Buyer's Stamp Duty (BSD).

Let's assume that you purchased a property for $2.5 million. What will be its BSD? You can compute the BSD by adding 1 per cent of the first $180,000, the 2 per cent of the second $180,000, and 3 per cent of the remainder.

Given this scenario, you'll be paying around $69,600 in lieu of the BSD alone. Also, you may want to take a look at the Additional Buyer's Stamp Duty charged on residential properties.

Before looking at the stamp duty rate, don't forget to check lawyer's fee.

Only after considering all of these additional expenses, you can have the true estimate of a property's price.

Then, you can decide which type of property will be your best choice.




The New Savvy is the definitive financial and career guide that empowers women through meaningful and relevant content.

Sunday, May 08, 2016

Anna V. Haotanto

The New Savvy

Source: AsiaOne

Island wide - URA Master Plan 2014

5 External Factors Affecting The Value Of Your Property - GET.com

Location | Access To Transportation | Value | Layout/Direction | Nearby Amenities

The truth is that the price you pay for a property in Singapore (and elsewhere) is not necessarily its value.

BEST FIXED RATES
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	1.99%	>

BEST FLOATING RATES
	1.41%	SIBOR	>
	1.46%	SIBOR	>
	1.48%	BOARD RATE	>
	1.56%	SIBOR	>

FIND THE RIGHT HOME LOAN
Type of home loanRefinancingNew Purchase Property TypeHDB FlatExecutive CondoApartment/CondoLanded Property Property Price Tenure GET RATES

There are many other factors that can affect property value – these can be related to its environment or to the property itself.

When buying a new home, what external factors should you look out for to ensure your property value appreciates over the years?

We at GET.com show you the 5 main external factors that affect property value.

1. 1. Location

   
   This is one key factor in driving up property value. Most people pay for a centralised location near town or the Central Business District.
   For instance, a 4-room HDB flat in Tanjong Pagar is very likely to fetch a higher price than a 5-room flat in SengKang.

2. 2. Access To Transportation

   
   We all know that it is extremely expensive to own a car here, so public transport is the main type of transportation that people use to commute on a daily basis.
   If you home is near an MRT or has many direct buses to town, you can expect it to have a better value compared to one further away from accessible public transport.
   This is also known as the "MRT Effect", where properties nearer to the MRTcommand a premium.
   This is also a reason why homes which have had the good fortune of enjoying the new lines of MRT (circle and downtown) seem to have a new lease of life and saw their value rise.
   However, there is a downside to being near the MRT as well. There are other considerations such as the noise level created by being near a main road or the MRT track, which could subsequently reduce the quality of living for the owner, as well as the property value.

3. 3. Value Of Neighbourhood Property

   
   Transaction prices of nearby properties have been known as a well-used indicator for a property's value.
   If a similar unit nearby fetched a good value, you can expect to use that as a justification to ask for a higher valuation of your own property.

4. 4. Layout/Direction

   
   This could be the direction your flat is facing or how your apartment is shaped (square or L-shaped).
   The direction your unit is facing can be a concern because most people try to avoid a place where the living rooms are directly facing the morning or evening sun, which can warm up the apartment and make it uncomfortable for the owners.

5. 5. Nearby Amenities

   
   Everyone loves convenience, and if you are already staying slightly away from town, you would want to be able to buy your daily necessities near your home.
   Thus, many people look for supermarts, the availability of food courts as well as sporting facilities near their place. The presence of quality educational institutions can be a criteria for parents as well.
   In recent years, more and more potential property buyers look at the Urban Redevelopment Authority's Master Plan as a guide to forecasting the value of properties.
   The building of a new mega-mall, bus terminal or MRT station will likely inflate the value of nearby properties.
   Similarly, the building of a crematorium will adversely affect nearby home values as well, so it is worthwhile to take your time to do some research.

Grace Cheng

updated Mar 07, 2016

Grace Cheng is co-founder and editor in chief at GET.com, a lifestyle and personal finance website. Email: g@get.com.

Source: GET.com

SRX: HDB resale volumes hit 3-year high as prices stabilise in April - SRX

RESALE volumes of HDB flats rose to a record monthly high since November 2012, according to SRX Property estimates.

HDB resale data compiled by SRX Property showed that an estimated 1,828 HDB resale flats were sold in April. That's a 10.3 per cent increase from the 1,657 transacted units in March, and 13.5 per cent higher than a year ago.

"We expect overall resale transactions for 2016 to be about 20,000 to 21,000 units, an increase over the 19,306 in 2015," Mr Lim said.

Resale flats are well-sought after because they have a shorter waiting time before buyers can move in, which caters to those with immediate housing needs. The various grants offered by HDB have played a part in making a resale flat more affordable.

Resale volume in April was still half the level of the peak in May 2010.

The 0.1 per cent moderation in SRX Property's flash estimate of HDB resale prices was mainly caused by five-room HDB flats whose resale prices slipped 0.9 per cent in April.

Resale prices of HDB three-room and executive flats, however, rose 0.6 per cent and 0.1 per cent respectively during the month. Resale prices of HDB four-room flats remained the same.

Resale prices in mature estates inched up one per cent in April, while those in non-mature estates slipped one per cent.

On the whole, resale HDB prices have fallen 11.1 per cent from the peak in April 2013 and 0.2 per cent from a year ago.

There was no revision to the resale price index by SRX Property in March that showed a 0.1 per cent slide.

With HDB resale prices stabilising for the past year, this trend is expected to continue for the coming months as buyers remain conservative in their offers, Mr Lim said.

He added that sellers have also been adjusting their price expectations in order to minimise the time their property is on the market.

Mature estates have also shown that they hold their value better, as they boast better amenities and infrastructure, which are attractive to buyers.

The Business Times

Source: SRX (06 May 2016)

Which are the Top 3 Most Popular Rental Projects? - SRX

1) Eight Riversuites: 99 units

Location at Whampoa East

2) EuHabitat: 55 units

Location: Jalan Eunos

3) Ripple Bay: 49 units

Location:  Pasir Ris Link

Source: SRX (22 Apr 2016)

NOVENA: The Next Cinderella Story of Singapore Property - SRX

The Novena neighborhood has long sat in the shadows of its popular and glam neighbors to the south. Everyone from New York to Timbuktu knows and loves Orchard. Newton is famous for its hawker centre and the buzz that comes from high density, luxury living.

Poor, Novena. She was never invited to the ball...until now.

Sorry to interrupt this romantic tale with boring mathematics, but it turns out Novena is as smart as she looks. Here are her measurements.

By MRT, Novena is eleven minutes to Raffles Place, the financial hub of Singapore. That is an extra four minutes travel time compared to that of Orchard MRT. Yet, it is 27.5% less expensive to buy in Novena and 13.8% less expensive to rent. That’s quite a savings for only four more minutes on the train.

This is not the complete financial story. Novena has outperformed her neighbors and that of the overall prime districts since the 2008 Global Financial Crisis. OMG, Novena is looking even prettier by the second.

And, I hear she’s caring, too. She is blossoming into a regional, if not global, medical hub. Facilities in Novena include Tan Tock Seng Hospital, Mount Elizabeth Novena Hospital, Thomson Medical Centre, and Novena Medical Center, which offers a wide range of specialist clinics.

Close to the MRT station is a new commercial project called Royal Square at Novena. It is slated for completion in 2017 and features retail, dining and medical suites, including clinics that cater to international patients.

A study by business consultancy RNCOS estimates medical tourism industry in Singapore to be worth around $1.74 billion, with growth expected to continue at a compounded annual rate of about 30% until 2017.

It sounds like Novena’s going to be rich. Be still, my beating heart.

To learn more about the buying opportunites in the Prime Districts, check out srx.com.sg/property-magazine

Source: SRX (08 Apr 2016)

Where are the TOP 5 Most Popular Rentals? - SRX

According to SRX Property Price Index, rental prices for Private Non-Landed Residential decreased by 1.0% in March 2016 compared to February 2016. This means rents are down 15.9 % since the peak in January 20-13.

In terms of Private Non-Landed Residential rental volume, an estimated 4,331 Private Non-Landed Residential units were rented in March 2016. Year-on-year, rental volume in March 2016 was 9.3% higher than the 3,961 units rented in March 2015.


What are the TOP 5 Most Popular Private Non-Landed Residential Rentals (March 2016)

District 9 (Orchard, Cairnhill, River Valley) - 410 units

District 15 (Katong, Joo Chiat, Amber Road) - 400 units 

District 10 (Bukit Timah, Holland Rd, Tanglin) - 336 units 

District 19 (Serangoon, Hougang, Punggol) - 272 units

District 14 (Geylang, Eunos)- 248 units

Source: SRX (19 Apr 2016)