singapore property weekly issue 228
DESCRIPTION
In this issue:- Must Read: Street-Smart Property Investing Strategies + Meet Mr. Propwise- Singapore Property News This Week- Resale Property Transactions (September 16 – September 22)TRANSCRIPT
Issue 228 Copyright © 2011-2014 www.Propwise.sg. All Rights Reserved.
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CONTENTS
p2 Must Read: Street-Smart Property
Investing Strategies + Meet Mr. Propwise
p7 Singapore Property News This Week
p11 Resale Property Transactions
(September 16 – September 22 )
Welcome to the 228th edition of the Singapore Property Weekly. Hope you like it! Mr. Propwise
FROM THE
EDITOR
SINGAPORE PROPERTY WEEKLY Issue 228
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Dear Readers,
The latest 2015Q3 URA PPI flash estimate
showed a -1.3% quarter-on-quarter
decline, marking a correction for 8 straight
quarters, and an 8% drop from the peak in
2013Q3. The future outlook seems grim –
global growth slowing, Singapore population
growth slowing, and we have a series of
interest rate hikes hanging over our heads.
You know from my posts over the past few
years that I’ve been cautious on the property
market. But I’m starting to get excited – in
the next couple of years I believe we will
be presented with a once-in-a-decade
buying opportunity.
Must Read: Street-Smart Property Investing Strategies
+ Meet Mr. Propwise
SINGAPORE PROPERTY WEEKLY Issue 228
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But to take advantage of it you not only have
to be greedy when others are fearful, you also
have to know what to buy, when to buy, and
how to buy. Are you equipped with the
knowledge you need to profit from the
next downturn?
I’m glad to announce I’m working with Dr.
Patrick Liew to organize a series of FREE
talks on Street-Smart Property Investing
Strategies. He will be conducting an
advanced seminar at a later date as well.
Here are the reasons why I think you
should take advantage of this opportunity
and sign up for his talk:
1. Patrick is the foremost expert on real
estate I know of and a very successful
property investor himself
He has founded and listed two companies,
and was previously the Chairman and CEO of
HSR, a listed property agency, giving him
both a bird’s eye view and an intricate
knowledge of the inner workings of the
market.
2. Patrick is passionate about both
learning and teaching wealth creation
strategies
He has a PhD, MBA, MSc and BSc. He
achieved his doctorate on Financial
Intelligence to develop and share his proven
wealth creation strategies to help ordinary
people create, invest and grow their wealth.
He has started many charities and works with
schools to provide free financial education to
young people.
3. I truly think he will add value to your
property investment journey
I decided to work with Patrick and organize
these talks and the seminar for my readers
SINGAPORE PROPERTY WEEKLY Issue 228
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for the first time ever since the starting of
Propwise.sg 5 years ago, as after interacting
with him over several years, I believe he is a
genuine expert on property investing, and
is a skilled, entertaining and generous
teacher.
4. I guarantee you will learn something
useful and it will be well worth your time
• Here’s what Patrick is going to cover in
his FREE 3-hour talks on Street-Smart
Property Investing Strategies:
• The 5 questions you MUST ask before
buying any property (these questions are
based on Patrick’s 20+ years of real
estate experience)
• Why you should not buy based on
location alone – Patrick explains why
TIMING the economic development of an
area is more important
• The biggest secret to finding cheap,
undervalued real estate (that most
investors don’t know about)
• How to quickly raise the value of your
property using Patrick’s 4-step “consumer
behavioral pattern” process
• The top categories of overseas properties
that are making investors high and
consistent returns
• How ordinary Singaporeans are investing
in properties with little or no money down
• The exact roadmap to becoming a
sophisticated investor… whether you’re
currently a rookie or veteran
5. Propwise.sg readers who attend will get
a special, exclusive bonus
• While I think it's worth going just to learn
from Patrick, I’d really like to make this a
SINGAPORE PROPERTY WEEKLY Issue 228
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success and get as many people as possible
to hear Patrick’s message AND I want to
thank you for your support of Propwise.sg by
throwing in the following bonuses for those
who attend:
• FREE e-book copy of the bestselling
Secrets of Singapore Property Gurus
(worth $28)
• FREE e-book copy of Effective
Leadership by Dr. Patrick Liew (worth
$20.95)
• …and more to be announced at the talk
itself!
6. You'll get to meet Mr. Propwise :)
Haha yes... I will be there to both learn from
Patrick and meet all of you too. We can
discuss the state of the property market,
investing strategies or whatever you want. If
you were ever curious about who Mr.
Propwise is, now’s the time to find out :)
When and where are these talks held?
All the talks are held at 10 Anson Road, #19-
14 International Plaza (above Tanjong Pagar
MRT).
Click the links below NOW to register for this
FREE talk based on what date works best for
you (they are all the same talk):
Wed 14 Oct 2015 – 7 to 10pm
Wed 21 Oct 2015 – 7 to 10pm
Thu 29 Oct 2015 – 7 to 10pm
SINGAPORE PROPERTY WEEKLY Issue 228
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Unfortunately due to room size
constraints, we will only be able to
accommodate around 100 people per date.
There are currently around 24,000 people
on this mailing list, so for now only ~1% of
you can attend. Sign ups are strictly on a
FIRST COME, FIRST SERVED BASIS, so if
you want to attend please sign up NOW to
avoid disappointment.
So what are you waiting for?
Click the links below NOW to register for the
date that works best for you (they are all the
same talk):
Wed 14 Oct 2015 – 7 to 10pm
Wed 21 Oct 2015 – 7 to 10pm
Thu 29 Oct 2015 – 7 to 10pm
Please invite and/or forward this to any
friends, family or colleagues you think may
benefit from this as well. Let me know if you
have any questions/queries I can help with.
Thanks for reading and I look forward to
seeing you there!
To Wisdom and Beyond,
Mr. Propwise
SINGAPORE PROPERTY WEEKLY Issue 228
Singapore Property This Week
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Residential
August completed condo prices down by
0.6%
According to the Singapore Residential Price
Index (SRPI) by the National University of
Singapore (NUS), the prices of completed
condos and apartments fell by 0.6% in August
from July. Ong Kah Seng from R’ST
Research said that the price drops for non-
shoebox units were because investor interest
for completed properties tends to be
seasonally weak in H2 as expatriates’ inflow
and leasing activity slows. According to NUS,
the sub-index had fallen by 0.7% and 0.5% in
the central region and the non-central region
respectively in August from July. Ong predicts
that the prices of completed properties in the
non-central region will fall further as the
number of condos in the suburban region is
expected to increase.
(Source: Business Times)
Overall private home price index falls by
1.3% in Q3
Following a 0.9% fall in Q2, the overall private
home price index has fallen by 1.3% in Q3
from the previous quarter—the biggest
quarterly drop since Q3 2013. Year-on-year,
the index has fallen by 4.2%.
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Ong Teck Hui from JLL said that since cooling
measures may not be eased anytime soon,
sellers may be more eager to sell before
prices drop further. This could have resulted
in the sharp decline in private home prices in
Q3. According to URA’s flash estimates, the
prices of non-landed private homes outside
central region, rest of central region and core
central region had fallen by 1.6%, 1.5% and
1.3% respectively in Q3 from the previous
quarter.
(Source: Business Times)
Redhill and Sembawang plots up for
tender
Designed for private housing development
with commercial use on the first storey, a site
at Redhill is expected to draw strong interest
in its tender. The 0.84 ha plot may be
developed into 400 private homes under the
H2 2015 Government Land Sales
Programme. Under the reserve list, a 0.7 ha
plot at Sembawang will also be put up for
tender. That site is expected to yield 115
private homes. Desmond Sim from CBRE
believes that the size of both plots presents
developers a relatively affordable lump-sum
quantum. As such, they are expected to
attract at least 10 bidders each.
(Source: Business Times)
Phase 2 of Greenwood Mews launched for
sale
Greenwood Mews is a 103-year old leasehold
development that features 62 cluster landed
homes located at Bukit Timah. Phase 2 of the
development has been launched and a
discount will be offered to the first 5 buyers.
Prices for the 10 units launched start from
$3.75 million for a 3,100 sq ft unit,
SINGAPORE PROPERTY WEEKLY Issue 228
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after discount. Shaw Lay See from Far East
Organisation believes that residents of the
estate will get to enjoy a number of lifestyle
and recreational offerings in the Bukit Timah
precinct.
(Source: Business Times)
High-end private home sales increased by
17.7% year-on-year in first 7 months
According to an analysis by Savills
Singapore, the number of private homes that
were sold above $3 million in the first 7
months of this year had increased by 17.7%
to 659 units from the same period last year.
On the other hand, the number of private
homes sold at prices below $3 million
remained almost unchanged. Ong Choon Fah
from DTZ said that HDB upgraders are more
price-sensitive and thus may have delayed
their upgrading decision in anticipation of
lower condo prices. This could have resulted
in the flat year-on-year growth in the number
of private homes transacted in the $3 million
and below category in the first 7 months this
year. On the other hand, the increase in high-
end private home sales could have been due
to a sharp the fall in property prices, said Alan
Cheong from Savills.
(Source: Business Times)
Commercial
Prime retail rents lowest since 2006
The average prime first-storey retail renthas
fallen by 3.7% quarter-on-quarter and 4.5%
year-on-year to $30.90 psf in Q3 this year.
Not only so, the average monthly rent from
July to September has been the lowest since
Q1 2006. Market experts believe that the fall
in rents was due to weaker consumer
sentiments and slower retail sales.
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Rents in the other city areas outside Orchard
Road took the sharpest decline with a 4.5%
quarter-on-quarter fall to $22.10 psf in Q3 this
year. On the other hand, the average prime
first-storey rents in the Orchard Road area
was down by 3.5% quarter-on-quarter in the
same period. According to Lee Nai Jia from
DTZ, more than 4 million sq ft of retail space
is expected to be released from 2015 to 2019
in the suburban areas. This will likely increase
competition for malls in that area and thus
affect the rental market.
(Source: Business Times)
Property auction market more than
doubles in Q3 from Q2
According to JLL, auction deals worth $27.6
million were completed in Q3 this year. This
more than doubles the $10 million recorded in
Q2. Mok Sze Sze from JLL said that interest
in the auction market has been picking up. In
Q3, JLL had closed the sales of 10 units—this
was up from the 5 units that were sold in Q2
at auctions. All 10 properties were new
listings.
(Source: Business Times)
SINGAPORE PROPERTY WEEKLY Issue 228
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Non-Landed Residential Resale Property Transactions for the Week of Sep 16 – Sep 22
Postal
DistrictProject Name
Area
(sqft)
Transacted
Price ($)
Price
($ psf)Tenure
1 ONE SHENTON 1,582 2,360,000 1,491 99
2 ICON 1,119 2,050,000 1,831 99
3 ALEXIS 388 740,000 1,910 FH
3 TANGLIN VIEW 872 1,090,000 1,250 99
5 THE PARC CONDOMINIUM 1,518 1,950,000 1,285 FH
5 PARC IMPERIAL 904 1,100,000 1,217 FH
5 BOTANNIA 1,636 1,680,000 1,027 956
8 CITY SQUARE RESIDENCES 1,206 1,660,000 1,377 FH
9 SCOTTS SQUARE 947 3,450,000 3,642 FH
9 THE SUITES AT CENTRAL 1,690 3,400,000 2,012 FH
9 THE LIGHT @ CAIRNHILL 2,024 3,700,000 1,828 FH
9 URBANA 1,313 2,350,000 1,790 FH
9 TOWNHOUSE APARTMENTS 2,906 2,000,000 688 99
10 TANGLIN PARK 1,335 2,350,000 1,761 FH
10 THE TRIZON 1,012 1,750,000 1,730 FH
10 REGENCY PARK 3,175 4,900,000 1,543 FH
10 ONE JERVOIS 1,496 2,200,000 1,470 FH
10 CASABELLA 2,067 2,700,000 1,306 FH
11 PARK INFINIA AT WEE NAM 1,335 2,450,000 1,836 FH
11 TREVOSE PARK 2,196 3,323,000 1,513 FH
11 THE LINCOLN MODERN 969 1,440,000 1,486 FH
11 CHANCERY PARK 2,347 3,400,000 1,449 FH
Postal
DistrictProject Name
Area
(sqft)
Transacted
Price ($)
Price
($ psf)Tenure
12 SUNVILLE 1,206 1,060,000 879 FH
12 KIM KEAT HOUSE 1,432 1,030,000 719 FH
14 THE WATERINA 721 980,000 1,359 FH
14 VACANZA @ EAST 560 733,888 1,311 FH
15 MEYER RESIDENCE 904 1,488,000 1,646 FH
15 THE SHORE RESIDENCES 592 901,000 1,522 103
15 ONE AMBER 1,658 2,250,000 1,357 FH
15 AMBER POINT 1,690 2,250,000 1,331 FH
15 WATER PLACE 1,227 1,530,000 1,247 99
15 MANDARIN GARDEN CONDOMINIUM 1,001 1,126,000 1,125 99
15 MANDARIN GARDEN CONDOMINIUM 1,572 1,560,000 993 99
15 MANDARIN GARDEN CONDOMINIUM 1,528 1,480,000 968 99
15 LAGOON VIEW 1,647 1,280,000 777 101
17 FERRARIA PARK CONDOMINIUM 1,238 1,110,000 897 FH
18 MELVILLE PARK 1,345 918,000 682 99
19 THE SCALA 1,044 1,270,000 1,216 99
19 CHILTERN PARK 1,249 1,080,000 865 99
20 SKY HABITAT 1,163 1,797,120 1,546 99
20 GOLDENHILL PARK CONDOMINIUM 1,561 1,980,000 1,269 FH
20 THOMSON VIEW CONDOMINIUM 1,313 1,100,000 838 99
21 MAPLEWOODS 1,023 1,268,888 1,241 FH
22 PARC OASIS 1,227 1,090,000 888 99
SINGAPORE PROPERTY WEEKLY Issue 228
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NOTE: This data only covers non-landed residential resale property
transactions with caveats lodged with the Singapore Land Authority.
Typically, caveats are lodged at least 2-3 weeks after a purchaser
signs an OTP, hence the lagged nature of the data.
Postal
DistrictProject Name
Area
(sqft)
Transacted
Price ($)
Price
($ psf)Tenure
23 PARK NATURA 1,442 1,440,000 998 FH
23 MONTROSA 2,217 1,900,000 857 999
23 PALM GARDENS 1,432 1,050,000 733 99
23 NORTHVALE 1,270 905,000 713 99
25 PARC ROSEWOOD 431 540,000 1,254 99
25 ROSEWOOD 1,173 900,000 767 99
26 BULLION PARK 1,873 1,780,000 950 FH
26 CASTLE GREEN 1,216 1,000,000 822 99
27 CANBERRA RESIDENCES 614 675,000 1,100 99
27 THE ESTUARY 1,001 950,000 949 99
28 MIMOSA PARK 1,894 1,635,000 863 FH