singapore property weekly issue 196

8/9/2019 Singapore Property Weekly Issue 196

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Issue 196Copyright © 2011-2014 www.Propwise.sg. All Rights Reserved.

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CONTENTS

p2 Property Market Outlook in the Year

of the Goat

p9 Singapore Property News This Week

p13 Resale Property Transactions

(February 4 – February 6 )

Welcome to the 196th edition of the

Singapore Property Weekly .

Hope you like it!

Mr. Propwise

FROM THE

EDITOR

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SINGAPORE PROPERTY WEEKLY Issue 196

Page | 2Back to Contents

By Property Soul (Guest Contributor)

As we usher in the Lunar New Year, I’m going

to peep into the crystal ball to see how the

Singapore property market will fare in this

Year of the Goat (or Sheep). (Disclaimer: I

have no vested interest in any property-

related company, or influence from any

individual in the real estate industry.)

Property Market Outlook in the Year of the Goat


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1. As gentle as a lamb

According to Chinese Feng Shui masters,

2015 is the Year of the Wood Goat that

carries a strong earth element. Wood on dry

earth with the absence of metal and fire is not

a good sign for growth.

Investors have to exercise extra caution to

avoid any blunder that might leave them high

and dry. For the same reason, the

construction and real estate industries may

face challenges this year.

Gentle and timid are the traits of the sheep. It

has no big ambition and lacks a fighting spirit.The animal is a follower rather than a leader.

When something unexpected happens, it

hesitates and acts cowardly.

This year it is difficult to find any sign of

revival in the property market. Industry

players have to go with the flow. Expectdevelopers to go deeper on discounts,

investors to continue holding off purchases,

and owners to further lower rental

expectations.

Another thing to keep in mind: The sheep hasa soft character and is not strong enough to

suppress any instability and turbulence. If

there is a perfect storm, nothing is powerful

enough to get things back under control.

https://propertysoul.files.wordpress.com/2015/02/sheep1.jpg


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2. The black sheep of the family

The Chinese believe that nine out of ten

goats are imperfect (十羊九不全). Being born

under the goat sign implies a life full of

worries, hardships and misfortunes. That's

why many superstitious mothers-to-be in

China chose to induce labor in the past few

weeks just for a horse baby.

The fact is that whenever the road gets

bumpy, we get grumpy and look around to

find a scapegoat. It can be any convenient

target: the government, the foreigners, our

fate, or our Chinese zodiac sign.

Who is to blame for the slow market? The

government which announced so many

rounds of cooling measures; MAS that

introduced TDSR and got us stuck in our

borrowing and refinancing; or developers who

kept overbuilding overpriced projects to

create a supply glut?

The truth is: We are the ones who no longer

believe in the upward spiraling of property

prices. We are the ones who have lost

confidence in the property market. When

HDB resale flat prices rise 0.6 percent last

month and the media unanimously deny therebound of the market, we know that an

upbeat note from a developer or agency can

no longer save the negative market

sentiments of the consumers.



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3. Like lambs to the slaughter

Have you seen how the lambs line up calmly

and obediently for the slaughter without the

slightest complaint for their tragic fate?

The character of the sheep is known to be

tame. It is loyal and submissive. It always

knows its place and behaves discreetly. It is a

pessimist and believes in destiny. It is ready

to compromise, sometimes even to the extent

of self-sacrifice for the common good.

In Singapore, 81.9 percent of the population

stays in HDB flats. Most feel comfortable and

are proud of their flats. Many cannot afford to

upgrade to private properties. And the

majority believe that prices are too high.

Think the government will lift some cooling

measures or borrowing restrictions this year

in celebration of SG50? Why rock the boat to

please the minority before the next election?Maintaining a sustainable property market is

in the interest of the whole society. So be

patient and wait for that 'meaningful

correction'.

Perhaps the start of the sheep year is a good

occasion to revisit what we learned in

kindergarten.

When IRAS sings, “Baa, baa, black sheep,

have you any wool?”



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Buyers reply, “Yes sir, yes sir, three bags full.”

"One for my mortgage (MSR and TDSR)

One for my stamp (ABSD and SSD)

And one for the property tax

We pay down the years" (repeat chorus)

4. Wolf in sheep's clothing

Many people invest under ignorance, greed,

fear, insecurity, kiasu or herd mentality. When

the market is hot, they want to strike while the

iron is hot. When the market direction

reverses, they scramble for cover.

People like to listen to what they want to hear.

But if things sound too good to be true, they

probably are. The more irresistible an

investment scheme sounds, the more likely it

is a fraud.

More than 700 Singapore investors were left

in the cold when the high-profile Braziliansocial housing developer EcoHouse closed its

office. Over $35 million was lost in Suisse

International’s gold buyback scam. Easy

money to flip old US houses promoted by

CTL Global turned out to be an investor’s

nightmare.

Donald Trump said if you go for get rich quick,

you are really going for broke. Look at how

some so-called property gurus who were

SINGAPORE PROPERTY WEEKLY I 196



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once authoritative and inspirational behave

when things go sour. The once media

darlings now become unreachable.

Expect to see more get-rich-quick schemes

fall flat in the sheep year. Watch how sheep

are being slaughtered once the deceiving wolf

takes off the sheep’s clothing.

When will people learn their lessons?

5. Separate the sheep from the goats

Like any Chinese zodiac animal sign, the goat

also has its share of favorable traits. The

animal is known for its industriousness,

perseverance, determination, stamina and

strong vitality.

When the going gets tough, the tough get

going. Property owners who are resilient will

be able to see it through. Those who have

holding power will ride through any storm.

Take a hint from the sheep to be a diligentworker. Don’t shun the hard work and work

from the ground up. There are 24,000 unsold

units, 69,000 in the supply pipeline and

countless resale units. Train yourself to

separate the sheep from the goats; to tell the

good properties from a batch of mixed qualityprojects.

SINGAPORE PROPERTY WEEKLY I 196



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Look closer and dig deeper for fire sales,

especially projects launched during the peak

of the market, high-end condos in CCR and

properties with high quantums.

Good luck in the Year of the Goat!

By guest contributor Property Soul, a

successful property investor, blogger , and

author of the No B.S. Guide to Property

Investment.


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.anthonyrobbinssg.com/propwisehttp://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/


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Singapore Property This Week


Residential

D ev el o p er s al es i n c reas e 6 2 p er c en t t o

372 u n i ts i n J an u ar y d u e t o i n c reas e i n

la u n c h e s

The sale of private homes by developers had

increased by 62 percent to 372 units in

January from 230 units in the previous month.

According to the Business Times, this

increase in sales transactions was due to an

increase in property launches. These

launches include the Marine Blue at Marine

Parade, and the Symphony Suites at Yishun.

50 out of the 124 units at Marine Blue had

been launched for sale. Thus far, 32 units

have been sold at a median price of $1,829

psf. On the other hand, 54 units at the

Symphony Suites have been sold at $1,010

psf. Nonetheless, the number of transactions

in January this year is still 35 percent less

than in January last year. The implementation

of the cooling measures and loan curbs have

curbed demand, said market experts. Ong

Teck Hui from JLL believes that it is more

challenging to launch projects during the

festivities when demand is usually low.

However, Desmond Sim from CBRE

Research believes that demand may be

picking up.

(Source: Business Times)



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L u x u r y h o m e p r i c e s d o w n b y 6 % i n 2 01 4

Singapore’s luxury home prices fell by 6

percent in 2014. This is the highest drop in

Asia, according to Jones Lang LaSalle. This

decrease in prices is likely to have been a

result of cooling measures and loan curbs

that were implemented to keep property

prices in check. According to Keppel Land,

new home sales have halved in 2014 and

residential prices have also remained weak.

Market experts believe that the growth in

Singapore’s residential market may stagnate

in 2015 as Singapore’s economy is expected

to be affected by slow growth in China.

Furthermore, a report by Knight Frank

suggests that Singapore will remain a high-end housing market as it is one of the most

expensive cities to buy a luxury home in.

Demand for luxury homes may also be

affected by the increase in property taxes,

said market experts.


K i n g s f o r d W at e rb a y o p e n s f o r v i e w i n g

Located near Hougang MRT Station,

Kingsford Waterbay has been launched for

viewing. The 99-year leasehold private

residential project comprises of 1,157

residential units. This includes one to five-

bedroom apartments; strata terrace houses

and strata semi-detached houses. Not only

so, the riverfront residential project will

include six commercial shops and a childcare

centre. The project was built on two adjoining

government land sales plots. Both plots

account for a total of 27,292 square metres.

According to Cui Zhengfeng from Kingsford

Development, there will be water-themed

recreational facilities within the riverfront

development.



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The development will begin sales in early

March. Market experts predict that the project

will sell for between $1000 per square foot

and $1050 per square foot.


K h a w : S u p p l y -d e m a n d r e b al a n c i n g

According to Minister for National

Development Khaw Boon Wan, supply and

demand for residential property is

recalibrating. Khaw said that with an increase

supply of residential units, prices have gone

down for a full year in 2014. This move has

helped to regulate the number of buyers and

sellers in the property market. Previously,

200,034 new homes were expected to be

built from 2014 to 2017. However, Khaw said

that as the Housing Development Board

eases supply for Build-To-Order flats, a total

of 195,788 new homes are expected to be

constructed during the same time period

instead. Khaw added that the stock of

housing units would have increased from 1.28

million this year to 1.43 million in 2018. This

would be an 11 percent increase in the stockof housing units. Currently, 960,000

residential units have been developed by

HDB while 320,000 are supplied by private

developers.


Commercial

Frasers Tower along Cecil Street to be

completed in 2018

Frasers Tower, a 38-storey Grade A office

tower, will be completed in 2018. Thisdevelopment will be located at Cecil Street. It

will have a total net lettable area of about

690,000 square feet, an open-space terrace



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and a roof garden. Not only so, the

development will comprise of a 17,200 square

feet park and a restaurant. The office tower

itself will make up 664,000 square feet of net

lettable area. This area will have column-freefloor plates that are between 19,000 square

feet to 21,000 square feet. According to a

spokesperson from Frasers Centrepoint

Limited, the office tower is expected to be the

only CBD Grade A office development that

will be completed in 2018. Its marketingefforts will begin by the end of this year.

(Source: The Straits Times)


http://www.moneymatters.sg/


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Non-Landed Residential Resale Property Transactions for the Week of Feb 4 – Feb 6

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

5 FLYNN PARK 2,196 2,408,888 1,097 FH

10 TANGLIN PARK 1,335 2,450,000 1,836 FH

10 SPANISH VILLAGE 1,668 2,050,000 1,229 FH

11 THOMSON EURO-ASIA 1,292 2,180,000 1,688 FH

11 DERBYSHIRE HEIGHTS 1,302 1,500,000 1,152 FH

12 AVA TOWERS 1,281 1,000,000 781 FH

14 THE SUNNY SPRING 1,109 1,108,888 1,000 FH

14 ASTORIA PARK 1,001 980,000 979 99

15 THE ESTA 1,313 2,020,000 1,538 FH

15 ST PATRICK'S LOFT 1,066 1,288,000 1,209 FH15 OCEAN PARK 2,110 2,100,000 995 FH

18 DOUBLE BAY RESIDENCES 936 1,045,000 1,116 99

19 N.A. 1,701 970,000 570 103

21 SIGNATURE PARK 1,033 1,115,000 1,079 FH

21 PINE GROVE 1,755 1,300,000 741 99

22 PARC OASIS 1,227 1,000,000 815 99

23 DAIRY FARM ESTATE 2,131 2,250,000 1,056 FH

23 GLENDALE PARK 1,249 1,230,000 985 FH
http://propertymarketinsights.com/

singapore property weekly issue 196

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