singapore property weekly issue 195
TRANSCRIPT
-
8/9/2019 Singapore Property Weekly Issue 195
1/14
Issue 195Copyright © 2011-2014 www.Propwise.sg. All Rights Reserved.
http://www.propwise.sg/http://www.propwise.sg/
-
8/9/2019 Singapore Property Weekly Issue 195
2/14
ContributeDo you have articles and insights and articles that you’d like to share
with thousands of readers interested in the Singapore property
market? Send them to us at [email protected] , and if they’re good
enough, we’ll publish them here, on our blog and even on Yahoo!
News.
AdvertiseWant to get your brand, product, service or property listing out to
thousands of Singapore property investors at a very reasonable
cost? Head over to www.propwise.sg/advertise/ to find out more.
CONTENTS
p2 3 Tips to Keep in Mind When Asking
For Property Advice
p7 Singapore Property News This Week
p12 Resale Property Transactions
(January 28 – February 3 )
Welcome to the 195th edition of the
Singapore Property Weekly .
Hope you like it!
Mr. Propwise
FROM THE
EDITOR
mailto:[email protected]://www.propwise.sg/advertise/http://www.propwise.sg/advertise/mailto:[email protected]
-
8/9/2019 Singapore Property Weekly Issue 195
3/14
SINGAPORE PROPERTY WEEKLY Issue 195
Page | 2Back to Contents
By Property Soul (Guest Contributor)
At a recent Invest Carnival 'Meet the
Investment Bloggers' session, there was a
question for me from the audience during a
panel discussion. Someone asked what I dowith my money after selling four properties. It
sounded like how the media interviews lucky
winners after they win the lottery or the
Changi Millionaire contest.
3 Tips to Keep in Mind When Asking For Property Advice
-
8/9/2019 Singapore Property Weekly Issue 195
4/14
SINGAPORE PROPERTY WEEKLY Issue 195
Page | 3Back to Contents
Unlike a windfall from hitting a jackpot, there
is no excitement at all. Like what some
investors say, you feel ten times more excited
the moment you find and secure a good deal
compared with the moment you profit from it.
I didn’t even consider celebrating or
rewarding myself. The profit was expected.
On the handover date of every sale, I just
made sure that my lawyer completed the sale
smoothly and deposited the cheque as
instructed.
How I invest my property profits
But wait, he was asking how I invested the
profit after selling my properties.
Frankly, I did nothing until I got the time to putit into fixed deposits in a few currencies. But
for most of it, I hold cash or assets that may
not produce any income.
The guy wouldn’t have asked this question if
he knew that everyone had different financial
goals. And my answer could be irrelevant and
misleading to him.
Every week I receive many email messages
from readers of my blog asking for property
advice. Asking for advice is an art but not
many have mastered it.
Don’t get me wrong. I often find messages
from readers sharing thoughts, exchanging
ideas or giving feedback a source of inspiration. They give bloggers like me food
for thought and the motivation to write.
But most of the time, readers seeking advice
could do it better. Below are three tips that
can help you ask the right questions.
Tip #1: Don’t copy others blindly. You
know yourself best.
If those so-called gurus are selling you an
investment opportunity,
-
8/9/2019 Singapore Property Weekly Issue 195
5/14
SINGAPORE PROPERTY WEEKLY Issue 195
Page | 4Back to Contents
you should ask what they have in their
portfolio. Don’t just get the list of properties.
Find out when and at what price they bought
them. You will then have an idea whether they
are a real guru or not.
Look at what others bought but don’t copy
them blindly. What others have in their
portfolio may not be suitable for you. We all
have different levels of financial literacy,
earning ability and holding power.Similarly, what others are doing with their
money may be irrelevant to you. We are all at
different stages in our financial journey. Many
are trying to clear their debts. More are
saving to buy for the first time. Some are
accumulating wealth through aggressive
investing. Others have already achieved
financial freedom. The rest are seeking
shelter to preserve their wealth.
Don’t ask “What are you buying?” Find out
what is available and appropriate for you.
Tip #2: Don’t wait to be spoon-fed. Learn
the basics yourself.Some readers like to drop me a one liner
question like “to buy or not”, “buy now or
later”, “when can I buy”, “what is best to buy”,
“should I buy xxx”, or “what do you think
about buying property in xxx.”
I can tell you that you should buy a property
project tomorrow. But why? Why this project?
Why tomorrow?
If I give you a quick answer, you learn
nothing. It is because you are fed with fish but
you don’t know how to fish. You can onlycome back to me with more one liner
questions.
-
8/9/2019 Singapore Property Weekly Issue 195
6/14
SINGAPORE PROPERTY WEEKLY Issue 195
Page | 5Back to Contents
Instead of waiting to be told what to do every
time, why don’t you learn all the basics about
property investment? It is important you
understand the reasons behind when to buy,
what to buy and how to tell a good deal from
a bad one.
Don’t ask “What do you think?” Find out the
basics and share with me what you think.
Tip #3: Don’t look for a quick fix. Learn the
skills to fix it yourself.
Do you know what annoys doctors the most?
It is when people whom they barely know
approach them and present their symptoms,
but without the full picture and their medical
history, and expect to have an immediate
diagnosis of whether they are fine or
abnormal.
Doctors know that without the full information
they have a high chance of getting it wrong. If
they say it is normal, it may turn out to be
otherwise. If they say it doesn’t look good,
they may upset the person unnecessarily.
Either way they cannot win. That is why they
always end with asking the person to go see
a specialist for a thorough check-up.
Then why ask in the first place?
Likewise, some people like to share their full
property stories and ask the experts for some
quick-and-dirty advice. But these expertsdon’t know you in person, your investment
goals, your financial ability and your risk
appetite. To be safe, they can only give you
some general advice.
So why ask in the first place?
Sometimes people have already made up
their mind. But they ask anyway to look for
confirmation or reassurance before taking the
plunge. One day if it turns out to be wrong,
-
8/9/2019 Singapore Property Weekly Issue 195
7/14
SINGAPORE PROPERTY WEEKLY Issue 195
Page | 6Back to Contents
at least they have someone to blame.
Or even if they get the answer from the
experts, they still don’t know what to do.
Because they lack the knowledge to tell why
they have to choose A instead of B. Because
they lack the courage and confidence to
choose A over B.
Don’t ask “What should I do?” Find the facts
and figure out what to do for yourself.
By guest contributor Property Soul, a
successful property investor, blogger , and
author of the No B.S. Guide to Property
Investment.
SINGAPORE PROPERTY WEEKLY I 195
http://propertysoul.com/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://www.moneymatters.sg/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://aktive.com.sg/store/no-b-s-guide-to-property-investment/http://propertysoul.com/
-
8/9/2019 Singapore Property Weekly Issue 195
8/14
SINGAPORE PROPERTY WEEKLY Issue 195
Singapore Property This Week
Page | 7Back to Contents
Residential
GC B at Sw et t enham R oad sel l ing at $23.52
m i l l i o n
A good class bungalow (GCB) at Swettenham
Road is asking for $23.52 million or $1,543
psf based on the freehold land area of
15,293.53 sq ft. According to market experts,
this value is lower than the seller’s previous
asking price of $30 million about nine months
ago. Data that was compiled by CBRE
showed that in 2014, 28 bungalows totalling
$626.14 million changed hands in GCB
areas. This amount was lower than the $682
million that was amassed from the sale of 29
bungalows in the same area in 2013; and it
was also significantly lower than the $1.17
billion that was transacted from the sale of 54
bungalows in 2012. The average price per
GCB transaction fell by 5 percent to $22.36
million from 2013 to 2014, said CBRE. KH
Tan from Newsman Realty added that the
Total Debt Servicing Ratio framework and the
additional buyer’s stamp duty have negatively
affected demand for GCBs as these cooling
measures makes it more difficult for buyers to
finance properties.
(Source: Business Times)
SINGAPORE PROPERTY WEEKLY I 195
-
8/9/2019 Singapore Property Weekly Issue 195
9/14
SINGAPORE PROPERTY WEEKLY Issue 195
Page | 8Back to Contents
SR X: resale cond o p rices f a l l by 0.2%
According to SRX Property’s flash estimates,
the overall resale price index for non-landed
private homes fell month-on-month in January
from the previous month. On the other hand,
the overall median transaction over X-value
remained at a negative $10,000. Also, the
overall resale price index for non-landed
properties fell by 0.2 percent month-on-month
in January. Eugene Lim from ERA RealEstate predicts that this downwards trend will
persist for the rest of the year. He believes
that non-landed private home resale prices
may fall by a total of 5 to 8 percent this year,
with homes in the core central region taking
the biggest hit. According to data from SRX’sflash estimates, the resale price of non-
landed private homes in the core central
region and outside central region had indeed
fallen by 1.7 percent and 1.1 percent
respectively in January from the previous
month. Nonetheless, prices in the rest of
central region had increased by 1.5 percent.
Data from URA also showed that the vacancy
rate for non-landed private homes hadincreased by 2 percent year-on-year in Q4
2014 from 2013. Nonetheless, market experts
believe that resale volumes will increase in
February, said the Business Times.
(Source: Business Times)Sit e at St urd ee R oad released f o r t ender
A 99-year private housing site at Sturdee
Road has been released for tender by URA.
The 0.6-hectare site is located near City
Square Mall and Farrer Park MRT Station. It
can be developed into a 30-storey high
project that can house 265 units. The tender
for the Sturdee Road site will close on March
24.
SINGAPORE PROPERTY WEEKLY Issue 195
-
8/9/2019 Singapore Property Weekly Issue 195
10/14
SINGAPORE PROPERTY WEEKLY Issue 195
Page | 9Back to Contents
Market experts predict that there will be
between three and fifteen bids. They believe
that the top bid for this site would be around
$700 psf ppr, or about $161.2 million.
Nicholas Mak from SLP International believesthat the weak residential property market may
push down bid prices. His views are echoed
by Ong Teck Hui, JLL’s national director, who
said that developers may be more cautious
due to the weak market sentiments.
Nontheless, Desmond Sim said that the site
is located in an “emerging trendy enclave.”
(Source: Business Times)
N ew g u i d el in es al lo w m o r e f lex i b il it y t o
d e s i g n l a n d e d h o m e s
According to the new guidelines by the URA,
home owners and developers will have
greater flexibility to design landed homes,
starting from May 11. Currently, landed
homes must follow to floor-to-floor
dimensions and basement protrusion limits
set by URA. However, with the new ruling,
home owners and developers will have
greater flexibility when it comes to the internalconfiguration of their homes. Desmond Sim
from CBRE said that this will allow home
owners to be more creative with their home
designs. Nonetheless, under the new
guidelines, three-storey homes may not be
higher than 15.5 meters in total, down from
17.7 meters. On the other hand, two-storey
homes should not be more than 12 meters
tall. This is about 2.1 meters lower than the
current standard. While this new guideline will
be applicable to all landed properties, it will
only be enforced for new erections and
reconstruction works.
(Source: Business Times)
SINGAPORE PROPERTY WEEKLY Issue 195
-
8/9/2019 Singapore Property Weekly Issue 195
11/14
SINGAPORE PROPERTY WEEKLY Issue 195
Page | 10Back to Contents
L oan eli gi bi li ty l et ter n eed ed p ri or t o
b o o k i n g H D B f l at
According to HDB, applicants of Build-to-
order (BTO) flats intend to take up loans from
HDB, will have to produce a valid HDB loan
eligibility letter when they book a flat.
Previously, potential flat buyers are only
required to produce the loan eligibility letter
when they sign the agreement for lease.
According to HDB, this new move will help
home buyers better plan their finances.
Eugene Lim from ERA Real Estate agrees
with his move as it will ensure that potential
home buyers are not overstretching their
finances. Lim also believes that this move
may encourage buyers to consider resaleflats when they find out that they qualify for a
higher loan quantum.
(Source: Business Times)
Commercial
F ir s t i n te gr at ed i n d u s tr ia l d ev el o p m en t
l a u n c h e d b y J T C
JTC recently launched JTC Space @ Tuas,the first integrated industrial development in
Singapore. The development consists of
different factory space types and supporting
facilities, to cater to firms in the oil and gas;
precision engineering and general
manufacturing industries. The 10-storeydevelopment is about 6.4 hectares large and
has a total of 128,000 sqm of industrial
space. The integrated industrial development
also has an on-site dormitory that can house
1,300 workers. Not only so, the development
will include facilities such as a supermarketand retail outlets. Lim Hng Kiang, Minister for
Trade and Industry believes that such a
development will improve the productivity of
SINGAPORE PROPERTY WEEKLY Issue 195
-
8/9/2019 Singapore Property Weekly Issue 195
12/14
SINGAPORE PROPERTY WEEKLY Issue 195
Page | 11Back to Contents
firms and their manufacturing process.
(Source: Business Times)
B i ds f or W o od lan d s EC s i te l o wer t han
expected
An EC site at Woodlands has attracted bids
that are lower than expected, according to the
Business Times. The site was won by a top
bid of $277.98 psf ppr. According to Ong Teck
Hui from JLL, the slow EC sales may have
dampened developers’ sentiments. To remain
competitive in spite of lower demands for EC
units, developers may have to bid more
conservatively, said Ong. According to the
Business Times, the Woodlands EC site will
be developed into a 300-unit project. Nicholas
Mak from SLP International believes that the
developer’s breakeven cost will be between
$600 and $640 psf.
(Source: Business Times)
Sin g ap o re lead s A s ia Pacific’s o f f i c e
grow t h in 2014
According to JLL, Singapore has one of the
strongest growths in Asia’s office rental
market, as the nation experienced an
increase of 14.9 percent in 2014 from 2013.
Last year, Singapore is the third most
expensive locality, after Hong Kong and
Beijing, said the Business Times.
Nonetheless, JLL predicts that rental growth
will fall by H2 this year as the supply of office
spaces increases. Growth in the office rental
market slowed to 0.9 percent in Q4 last year,
compared with 3.5 percent in Q3, said JLL.
Nonetheless, rising operating costs and a
weakened demand for retail sales is expectedto affect office rents.
(Source: Business Times)
SINGAPORE PROPERTY WEEKLY Issue 195
-
8/9/2019 Singapore Property Weekly Issue 195
13/14
SINGAPORE PROPERTY WEEKLY Issue 195
Page | 12Back to Contents
Non-Landed Residential Resale Property Transactions for the Week of Jan 28 – Feb 3
NOTE: This data only covers non-landed residential resale propertytransactions with caveats lodged with the Singapore Land Authority.Typically, caveats are lodged at least 2-3 weeks after a purchasersigns an OTP, hence the lagged nature of the data.
Postal
DistrictProject Name
Area
(sqft)
Transacted
Price ($)
Price
($ psf)Tenure
1 MARINA BAY SUITES 2,067 4,450,000 2,153 99
2 THE BEACON 1,109 1,525,000 1,375 994 THE COAST AT SENTOSA COVE 2,626 3,125,000 1,190 99
4 THE PEARL @ MOUNT FABER 2,347 2 ,388,000 1,018 99
5 REGENT PARK 807 869,800 1,077 99
5 DOVER PARKVIEW 936 960,000 1,025 99
8 KERRISDALE 990 1,190,000 1,202 99
9 HILLTOPS 1,335 4,200,000 3,147 FH
9 CAIRNHILL RESIDENCES 1,238 2,750,000 2,222 FH
9 SCOTTS 28 1,098 2,250,900 2,050 FH
9 THE COSMOPOLITAN 1,399 2,658,100 1,900 FH
10 CUSCADEN RESIDENCES 1,485 3,150,000 2,121 FH
10 CUSCADEN RESIDENCES 1,496 3,000,000 2,005 FH
10 PARVIS 1,991 3,900,000 1,958 FH
10 D' DALVEY 958 1,450,000 1,514 FH
11 RESIDENCES @ EVELYN 2,250 3,900,000 1,734 FH
11 NOVENA LODGE 872 1,130,000 1,296 FH
11 WATTEN ESTATE CONDOMINIUM 1,001 1,201,200 1,200 FH
11 PAVILION 11 4,219 4,980,000 1,180 FH
12 VETRO 614 755,000 1,231 999
12 OLEANDER TOWERS 1,152 1,100,000 955 99
13 AVON PARK 1,281 1,600,000 1,249 FH
14 SUITES @ SIMS 377 615,000 1,632 FH
14 WATERBANK AT DAKOTA 883 1,380,000 1,563 99
14 STARVILLE 1,238 1,220,000 986 FH
15 THE SHORE RESIDENCES 893 1,370,000 1,533 103
Postal
DistrictProject Name
Area
(sqft)
Transacted
Price ($)
Price
($ psf)Tenure
15 THE WATERSIDE 2,400 3,380,000 1,408 FH
15 PEBBLE BAY 2,626 3,650,000 1,390 9915 VERSILIA ON HAIG 1,227 1,528,800 1,246 FH
15 FINLAND GARDENS 1,324 1,588,800 1,200 FH
15 PEBBLE BAY 1,808 1,930,000 1,067 99
15 MANDARIN GARDEN CONDOMINIUM 1,572 1,380,000 878 99
16 EAST MEADOWS 1,195 1,130,000 946 99
18 THE TROPICA 990 828,000 836 99
19 GLASGOW RESIDENCE 463 660,000 1,426 999
19 RESIDENCES @ JANSEN 1,615 1,285,000 796 999
19 RIVERVALE CREST 1,442 980,000 679 99
19 N.A. 1,722 910,000 528 103
20 GOLDENHILL PARK CONDOMINIUM 1,539 2,030,000 1,319 FH
20 RAFFLESIA CONDOMINIUM 1,302 1,400,000 1,075 99
21 THE CASCADIA 883 1,430,000 1,620 FH
21 THE CASCADIA 990 1,550,000 1,565 FH
21 CHARISMA VIEW 657 770,000 1,173 FH
21 CLEMENTI PARK 1,163 1,120,000 963 FH
23 HILLINGTON GREEN 990 1,040,000 1,050 999
23 THE WARREN 1,259 1,068,000 848 99
23 MI CASA 1,259 1,050,000 834 99
23 NORTHVALE 1,087 810,000 745 99
SINGAPORE PROPERTY WEEKLY Issue 195
-
8/9/2019 Singapore Property Weekly Issue 195
14/14
SINGAPORE PROPERTY WEEKLY Issue 195
Page | 13Back to Contents
http://propertymarketinsights.com/http://www.anthonyrobbinssg.com/propwise