30 June 09
The Straits Times
STRONG sales in the property market continued over the weekend as mass- and upper-mid- market launches drew crowds of buyers.
Within three days of its preview launch last Friday, the 68-unit Residences @ Killiney project sold 39 of 60 released units - with sales ongoing, a spokesman for developer Hoi Hup Realty said yesterday.
Preview prices at the Killiney Road condominium ranged from $1,700 per sq ft (psf) to $2,000 psf.
Opposite the condo at Devonshire Road, Allgreen Properties' One Devonshire has sold more than 95 per cent of its 36-storey, 152-unit freehold condo since its launch about two weeks ago.
In the Thomson Road area, Far East Organization sold 84 per cent - or 74 homes - of an initial batch of 88 units at a private preview of its Vista Residences over the weekend.
The 280-unit freehold project offers a range of accommodation from one bedroom to penthouse units starting from $960 psf.Far East will release another 45 units tomorrow - its official launch date - said Mr Chia Boon Kuah, chief operating officer of the firm's property arm.
HSR Property Group executive director Eric Cheng noted that the buying activity - which started in mass-market new condo launches - seems to have moved into the higher market segments.
'This is undoubtedly due to the stock market rally, more positive sentiment, and is enabled by the interest absorption scheme,' he said. The scheme allows buyers to pay a deposit and postpone monthly home loan payments until the project is completed. 'This is attracting the investors to come out in droves,' he added.
In the mass market, sales continued with Frasers Centrepoint announcing yesterday that its two projects, 8@Woodleigh and Woodsville 28, were sold out.All 330 units at 8@Woodleigh in Potong Pasir were fully sold last Saturday at an average price of $790 psf. And all 110 units of Woodsville 28 were sold by last Tuesday at an average price of $775 psf.
At Pasir Ris, half of the 142 units at Chip Eng Seng group's Oasis@Elias previewed over the weekend were sold, said its marketing agent CB Richard Ellis.
On the east coast, the 94-unit Parc Seabreeze in Marine Parade is selling well with the project close to 70 per cent sold, said HSR, which is marketing the project. Units are fetching from $1,050 psf to $1,550 psf.Mr Colin Tan, Chesterton Suntec International's head of research and consultancy, noted that there had been 'pent-up demand' resulting in strong sales activity, but added that this was 'not sustainable'.'Unlike the boom years, where foreigners made up a huge number of buyers, it is mostly locals who are on this buying spree,' he said.Property expert
Nicholas Mak expects a moderation of buying activity in the coming months, especially as developers continue to revise their prices upwards.
Tuesday, June 30, 2009
Sunday, June 28, 2009
Meier Suites
Meier Suites Launching Soon!
Meier Suites Located on Prime District 15 of Meyer Rd (Off Meyer Road Ex Margate Mansion)
Description
Developer: SB (Meyer) Development Pte Ltd (A subsidiary of Soilbuild Group Holdings Ltd)
Full condo status with full facilities
Expected TOP: 31 Dec 2014
Expected Date of Legal Completion: 31 Dec 2017
Ample parking lots of 114 in total
Tenure: Freehold
Total No. of units: 55
Units Mix:
3 bedroom - 1798 sqft (Ensuites) 12 units
4 bedroom - 2207 sqft (Ensuites) 26 units
4 bedroom - 2228 sqft (Ensuites) 13 units
3 bedroom PH - 3380 (Pte Pool) 1 unit
4 bedroom PH - 4133 sqft (Pte Pool) 2 units
4 bedroom PH - 4166 sqft (Pte Pool) 1 unit
Wednesday, June 24, 2009
The Gale
The Gale Launching Soon!
Developer: Tripartite Developers Pte Ltd
Project name: The Gale
Property Type: Condominium
Tenure: Freehold
Nos of unit: 329
Apartment Type: 1 bedroom, 2 bedrooms, 2+1 bedrooms, 3 bedrooms, 3+1 bedrooms and 4 bedrooms
The Gale is a freehold Condominium project by Tripartite Developers Pte Ltd. located at Flora Road which is near Changi Airport, eastern part of Singapore.
The Gale Condo is an ideal home for singles, newly-married couples, and families with young children and extended families who want to enjoy contemporary and stylish living at a very comfortable price level.
The Gale Condo will be a popular choice for up-graders and discerning buyers who yearn for good quality finishes and all the convenience within reach.
The Gale Condo is accessible via the nearby expressways – Pan Island Expressway (PIE), Tampines Expressway (TPE) and East Coast Parkway (ECP). It takes only 5 minutes or less to commute to the Changi Airport.
It takes about 5 minutes drive or bus ride from The Gale Condo to the nearest Simei or Tampines MRT station. The Gale Condo nearby amenities include Loyang Point, White Sands, Tampines Mall, Century Square, Tampines One, The Japanese School Tanah Merah & Laguna Golf and Country Club.
Tripartite Developers Pte Ltd has a series of developments in the area named in alphabetical order after fauna and flora: Azalea Park, Ballota Park, Carissa Park, Dahlia Park, Edelweiss Park, Ferraria Park and now The Gale.
For registration of interest for private preview or prebooking of units at The Gale, please sms or call 9763 9937 or email camiliang@gmail.com.
Friday, June 19, 2009
Viva
Viva Condo
The Condo, Viva’s freehold site has a land area of approximately 10,540.5 sqm and is located on the western side of Thomson road, almost mid-way between its junctions with Newton/Kampong Java Roads. The immediate vicinity is mixed in nature comprising residential developments such as “Lincoln Lodge”, “Suffolk Apartments”, amongst others, interspersed by commercial developments such as United Square, Goldhill Centre/Plaza and Revenue House.
Prominent developments in the vicinity also include Hotel Royal and St Michael’s Primary School. Accessibilty to and from the subject property is exhanced by its proximity to the Central Expressway and major roads such as Thomson/Bukit Timah Roads.
Viva is within walking distance from the Novena MRT station. Viva will comprise of 2 blocks of 30 storey with a total of 248 condominium units (2/3/4 bedrooms type) with basement carparks. Viva's common facilities includes swimming pool, tennis court and clubhouse.
Location: No. 2, 6 & 8 Suffolk Walk
No of units: 235
· 2BR (957 sqft) : 25
· 2+S (1044 sqft) : 25
· 3BR (1323 – 1345 sqft) : 69
· 3+S (1517 – 1528 sqft) : 39
· 4BR (1840 – 1991 sqft) : 65
· Suites (2486 – 3810 sqft) : 9
· Penthouses (4908 – 6339) : 3
Please register your interest in Viva by contacting 9763 9937 or emailing camiliang@gmail.com
Top-end bungalows going, going, gone
18 June, 2009
The Straits Times
(SINGAPORE) The most prestigious segment of Singapore's residential property sector has picked up over the past two months.
Seven good class bungalows (GCBs) were sold in April and May - up from just two transactions in Q1 2009 - according to Savills Singapore's analysis of caveats captured by URA Realis.
The numbers are for bungalows with the minimum plot size of 1,400 square metres (about 15,069 square feet) stipulated for GCBs in the 39 GCB areas (GCBAs) here gazetted by the Urban Redevelopment Authority (URA).
However, if bungalows with land areas below 1,400 sq m are also included, the April-May period saw 10 caveats - again significantly higher than the three caveats lodged in Q1.
'The higher GCB sales in April and May reflect the general improvement in investment sentiment on the back of the stockmarket rally. Some GCB buyers could also be savvy investors who made money in the stock market. Going ahead, they may feel that there's more upside than downside for GCB prices,' says Savills' director for prestige homes Steven Ming.
The biggest GCB transaction in May (and also so far this year) was the $30 million sale of 2A Ridley Park, which has 27,233 sq ft land area. The price works out to $1,101 per square foot (psf) of land area - also the highest on a unit land price basis in 2009.
At least one other transaction has been done at above $1,000 psf recently, although it has yet to be reflected in caveats: 1 Cluny Hill, which was sold for $16.2 million or $1,081 psf based on its 14,985 sq ft plot size. Forbes Property Realty Network brokered the deal.
Douglas Wong, director, luxury homes at CB Richard Ellis, notes that GCB investors in Singapore often own two or more such properties - one for their own residence and the rest for investment. 'With the recent increase in activity, they may consider it opportune to liquidate some of their GCB holdings and get some cash back to plough into other investments or their business,' he said.
Compared with just three GCB transactions in Q1, Mr Wong expects some 14-17 deals in Q2. 'Assuming the stock market is able to hold up till the end of 2009, we estimate that some 38-45 GCBs could be sold for the whole of 2009, amounting to a total quantum of some $700-800 million,' he added. This would not be far off from the $827 million from the sale of 51 GCBs last year.
Other notable GCB transactions in May include a property at Jervois Road that sold for $13 million ($862 psf), and another bungalow at Binjai Rise that was sold for $19.8 million ($871 psf) to international action star Jet Li.
The highest ever psf price attained for a bungalow in a GCB area is $1,899 psf for 32H Nassim Road in October 2007. But the area of that plot is 13,423 sq ft, less than the minimum GCB plot size. That's why the GCB benchmark is generally considered $1,308 psf - the price obtained for 15 White House Park, with 22,012 sq ft land area, in August 2007.
Activity in the landed housing market first started picking up this time around in the 'low-end' segment - meaning terraced and semi-detached houses - about three months ago, said Michael French, MD of Asia Premier Property Consultants.
'We have not seen such buying levels in the market for a long time,' he said.
The activity then filtered up to smaller bungalows of about 4,000-8,000 sq ft. Then, about four weeks ago, demand for GCBs took off, with several large deals being concluded in May.
More big GCB deals are on the cards. BreadTalk founder and chairman George Quek is looking to sell his 2 Swettenham Road GCB and the price tag could be as high as $33 million, or $991 psf. Mr Quek bought the property, with 33,293 sq ft land area, with his wife last year for $27 million or $811 psf. He has appointed Newsman Realty to handle the sale, and the firm's managing director, KH Tan, hopes to get $33 million for the 1960s bungalow.
The property will be sold through a closed tender on June 30. Mr Tan has pre-selected 30 prospective buyers whom he intends to invite to view the property and to participate in the bidding exercise. Part of the proceeds from the sale will be donated to charity.
The Straits Times
(SINGAPORE) The most prestigious segment of Singapore's residential property sector has picked up over the past two months.
Seven good class bungalows (GCBs) were sold in April and May - up from just two transactions in Q1 2009 - according to Savills Singapore's analysis of caveats captured by URA Realis.
The numbers are for bungalows with the minimum plot size of 1,400 square metres (about 15,069 square feet) stipulated for GCBs in the 39 GCB areas (GCBAs) here gazetted by the Urban Redevelopment Authority (URA).
However, if bungalows with land areas below 1,400 sq m are also included, the April-May period saw 10 caveats - again significantly higher than the three caveats lodged in Q1.
'The higher GCB sales in April and May reflect the general improvement in investment sentiment on the back of the stockmarket rally. Some GCB buyers could also be savvy investors who made money in the stock market. Going ahead, they may feel that there's more upside than downside for GCB prices,' says Savills' director for prestige homes Steven Ming.
The biggest GCB transaction in May (and also so far this year) was the $30 million sale of 2A Ridley Park, which has 27,233 sq ft land area. The price works out to $1,101 per square foot (psf) of land area - also the highest on a unit land price basis in 2009.
At least one other transaction has been done at above $1,000 psf recently, although it has yet to be reflected in caveats: 1 Cluny Hill, which was sold for $16.2 million or $1,081 psf based on its 14,985 sq ft plot size. Forbes Property Realty Network brokered the deal.
Douglas Wong, director, luxury homes at CB Richard Ellis, notes that GCB investors in Singapore often own two or more such properties - one for their own residence and the rest for investment. 'With the recent increase in activity, they may consider it opportune to liquidate some of their GCB holdings and get some cash back to plough into other investments or their business,' he said.
Compared with just three GCB transactions in Q1, Mr Wong expects some 14-17 deals in Q2. 'Assuming the stock market is able to hold up till the end of 2009, we estimate that some 38-45 GCBs could be sold for the whole of 2009, amounting to a total quantum of some $700-800 million,' he added. This would not be far off from the $827 million from the sale of 51 GCBs last year.
Other notable GCB transactions in May include a property at Jervois Road that sold for $13 million ($862 psf), and another bungalow at Binjai Rise that was sold for $19.8 million ($871 psf) to international action star Jet Li.
The highest ever psf price attained for a bungalow in a GCB area is $1,899 psf for 32H Nassim Road in October 2007. But the area of that plot is 13,423 sq ft, less than the minimum GCB plot size. That's why the GCB benchmark is generally considered $1,308 psf - the price obtained for 15 White House Park, with 22,012 sq ft land area, in August 2007.
Activity in the landed housing market first started picking up this time around in the 'low-end' segment - meaning terraced and semi-detached houses - about three months ago, said Michael French, MD of Asia Premier Property Consultants.
'We have not seen such buying levels in the market for a long time,' he said.
The activity then filtered up to smaller bungalows of about 4,000-8,000 sq ft. Then, about four weeks ago, demand for GCBs took off, with several large deals being concluded in May.
More big GCB deals are on the cards. BreadTalk founder and chairman George Quek is looking to sell his 2 Swettenham Road GCB and the price tag could be as high as $33 million, or $991 psf. Mr Quek bought the property, with 33,293 sq ft land area, with his wife last year for $27 million or $811 psf. He has appointed Newsman Realty to handle the sale, and the firm's managing director, KH Tan, hopes to get $33 million for the 1960s bungalow.
The property will be sold through a closed tender on June 30. Mr Tan has pre-selected 30 prospective buyers whom he intends to invite to view the property and to participate in the bidding exercise. Part of the proceeds from the sale will be donated to charity.
Friday, June 12, 2009
One Devonshire
One Devonshire Launching Soon!
One Devonshire Condo
One Devonshire Condo
One Devonshire is an exclusive development comprising only 152 units.
The eye-catching development with its contemporary architecture and unique 7-sky-gardens concept will appeal to all. Each exquisitely designed sky garden has its own unique theme. Facilities include, among other things, a clubhouse, swimming pool and tennis court.
One Devonshire is a prime residential development and its close proximity to Orchard Road, Singapore River, CTE and Somerset MRT station makes it an ideal and convenient place to live in. In its vicinity are schools such as CHIJ, River Valley Primary School.
One Devonshire, a magical address where the beauty of nature is portrayed in a multitude of stunning executions. This is the wonder - a superb freehold condominium with seven exquisite garden. The perfection of it's exterior is carried through to its interior. With its selection of 2-, 3- and 4-bedroom as well as extraordinary Sky Suites and penthouses available, it offers living space to suit the most discerning homeowners and investors.
Key Features:
- 2 - 5 bedrooms
- Leisure Facilities
- Modern
- 24hr security
- Function Rooms
- Gardens / Grounds
- Gym
- High Rise
- New Development
- Swimming Pool
- Tennis Court
Unit Types:
- 2-Bedroom : 904 to 915 sqft
- 3-Bedroom : 1194 to 1410 sqft
- 4-Bedroom : 1463 to 1603 sqft
- Sky Suites : 2400 to 2755 sqft
- Penthouses : 4154 to 4876 sqft
Foreigners eye S'pore homes again
12 June 09
The Straits Times
FOREIGN buyers are back to snap up homes here after bolting for the exits during the financial turmoil late last year.
The number of foreign private home purchases in April and May is already up on the first quarter but no one is claiming a significant turnaround is under way, although sales numbers hint at 'green shoots'.
The mix of buyers has also changed from the boom of 2007 and early last year. Then, Koreans, Americans, Russians, and people from the Middle East and elsewhere joined regional buyers to invest at the high end of the market, often with the aim of flipping the property to other investors.
Now buyers from Malaysia, Indonesia and China are dominating, and they are mostly picking up bargain-price units under $1 million for their own use or investment, according to property consultant Jones Lang LaSalle. Its analysis of non-landed private home caveats lodged in April and May found that foreigners bought 202 properties, up 15 per cent from the 175 bought in the first quarter and the 156 deals done in the last three months of last year.
They are taking advantage of bargains in the weak market and low interest rates, said Jones Lang LaSalle associate director of research Desmond Sim.
In the first five months this year, about 57 per cent of the foreign buyer caveats were in the $500,000 to $1 million price category. This is slightly more than for the same periods in 2004 and 2005.
Unlike the rising market in 2004 and 2005 when foreigners bought mostly new launches, buyers now are largely going for resale homes. 'During that period (2004-2005), Singapore prime residential prices were in the region of US$7,745 (S$11,200) per sq m compared to our 'cousin' Hong Kong at US$20,500 per sq m,' said Mr Sim.
Most foreign buyers then came from within Asia and saw cheaper homes here as good investments, he said. Many at the time made use of the deferred payment scheme to earn quick capital gains through flipping the units in the sub-sale market, he added.
Resale homes became popular in 2006 and 2007 as more foreigners - who came mainly as the banking and financial industries grew - chose to buy instead of paying sky-high rents.
The resale interest is back. Several resale caveats lodged this year came from districts 10 and 22, with The Tessarina in Bukit Timah and The Lakeshore in Jurong among the popular projects. The significant first-quarter price correction which made homes cheaper than before, 'and thus perceived as having more upside potential', may be a key reason why foreigners buy here instead of elsewhere, said Mr Sim.
Still, he said in-house research showed that luxury prime homes are still about 51 per cent above their last trough in the first quarter of 2005. Mass market prices are about 36 per cent above the 2005 level. This suggests more price falls may be on the way, said Mr Sim.
The impact foreigners can have in the property market cannot be underestimated. After all, they helped push up private home prices, particularly in prime areas, during the boom. 'We do not deny the potential these buyers bring to our market but, given the larger global uncertainty, we reckon it is too early to predict if this is a turn,' said Mr Sim.
Foreigners accounted for 10.6 per cent to nearly 17 per cent of total sales in the four quarters last year. But they made up less than 10 per cent of total sales this year, Jones Lang LaSalle data shows.
'The foreigners are not coming back in a strong way. During boom times, we saw less traditional foreign buyers such as foreign funds and foreigners from places like Europe,' said Mr Sim.
The buyers now are from the region, and mostly keen on mass to mid-end properties, he said.
These are the 'very localised' foreigners already familiar with the Singapore market and have kept track of what is going on, said Savills Residential director Phylicia Ang.
Cash-rich foreigners from farther afield who target prime property have not yet returned, she said.
Still, more foreign buyers are likely to return in the next three to six months, said Knight Frank executive director Peter Ow. 'Once news spread that the market is recovering, they won't want to miss out.'
The Straits Times
FOREIGN buyers are back to snap up homes here after bolting for the exits during the financial turmoil late last year.
The number of foreign private home purchases in April and May is already up on the first quarter but no one is claiming a significant turnaround is under way, although sales numbers hint at 'green shoots'.
The mix of buyers has also changed from the boom of 2007 and early last year. Then, Koreans, Americans, Russians, and people from the Middle East and elsewhere joined regional buyers to invest at the high end of the market, often with the aim of flipping the property to other investors.
Now buyers from Malaysia, Indonesia and China are dominating, and they are mostly picking up bargain-price units under $1 million for their own use or investment, according to property consultant Jones Lang LaSalle. Its analysis of non-landed private home caveats lodged in April and May found that foreigners bought 202 properties, up 15 per cent from the 175 bought in the first quarter and the 156 deals done in the last three months of last year.
They are taking advantage of bargains in the weak market and low interest rates, said Jones Lang LaSalle associate director of research Desmond Sim.
In the first five months this year, about 57 per cent of the foreign buyer caveats were in the $500,000 to $1 million price category. This is slightly more than for the same periods in 2004 and 2005.
Unlike the rising market in 2004 and 2005 when foreigners bought mostly new launches, buyers now are largely going for resale homes. 'During that period (2004-2005), Singapore prime residential prices were in the region of US$7,745 (S$11,200) per sq m compared to our 'cousin' Hong Kong at US$20,500 per sq m,' said Mr Sim.
Most foreign buyers then came from within Asia and saw cheaper homes here as good investments, he said. Many at the time made use of the deferred payment scheme to earn quick capital gains through flipping the units in the sub-sale market, he added.
Resale homes became popular in 2006 and 2007 as more foreigners - who came mainly as the banking and financial industries grew - chose to buy instead of paying sky-high rents.
The resale interest is back. Several resale caveats lodged this year came from districts 10 and 22, with The Tessarina in Bukit Timah and The Lakeshore in Jurong among the popular projects. The significant first-quarter price correction which made homes cheaper than before, 'and thus perceived as having more upside potential', may be a key reason why foreigners buy here instead of elsewhere, said Mr Sim.
Still, he said in-house research showed that luxury prime homes are still about 51 per cent above their last trough in the first quarter of 2005. Mass market prices are about 36 per cent above the 2005 level. This suggests more price falls may be on the way, said Mr Sim.
The impact foreigners can have in the property market cannot be underestimated. After all, they helped push up private home prices, particularly in prime areas, during the boom. 'We do not deny the potential these buyers bring to our market but, given the larger global uncertainty, we reckon it is too early to predict if this is a turn,' said Mr Sim.
Foreigners accounted for 10.6 per cent to nearly 17 per cent of total sales in the four quarters last year. But they made up less than 10 per cent of total sales this year, Jones Lang LaSalle data shows.
'The foreigners are not coming back in a strong way. During boom times, we saw less traditional foreign buyers such as foreign funds and foreigners from places like Europe,' said Mr Sim.
The buyers now are from the region, and mostly keen on mass to mid-end properties, he said.
These are the 'very localised' foreigners already familiar with the Singapore market and have kept track of what is going on, said Savills Residential director Phylicia Ang.
Cash-rich foreigners from farther afield who target prime property have not yet returned, she said.
Still, more foreign buyers are likely to return in the next three to six months, said Knight Frank executive director Peter Ow. 'Once news spread that the market is recovering, they won't want to miss out.'
Sunday, June 7, 2009
Strong demand at Nathan Residences relaunch
6 June, 09
The Straits Times
FRESH evidence emerged yesterday of a possible short-term rebound in the private residential market with strong demand at a 91-unit development in River Valley.
A quiet relaunch preview was held at the freehold Nathan Residences – and 75 units were snapped up quickly. These sales were sealed even though there was no interest absorption scheme or stamp duty waiver to entice buyers.
The deals were done at $1,220 to $1,320 per sq ft – a level market observers say is not entirely cheap but is easily 30 per cent to 35 per cent below last year’s prices.
Small developer Tat Aik first released the Nathan Road project for sale in September last year.
At prices averaging $1,800 to $2,000 psf, the project saw no takers.
Yesterday, the one-bedders were sold from about $730,000 to $785,000 while the two-bedders went for about $960,000 to just over $1 million. Those are the only two options at Nathan Residences – the one-bedders at 592 sq ft and the two-bedders at 786 sq ft.
All the one-bedders have been sold. The left-over units include eight penthouses costing around $1.6 million each and a few ground-floor units priced around $1.2 million.
Knight Frank, which marketed the project, said buyers were mostly couples and singles, and an overwhelming number were locals and permanent residents. HDB upgraders made up about 30 per cent of buyers.
‘This shows that confidence is back and people are willing to buy when something good comes along,’ said its executive director, Mr Peter Ow.
A new sold-out project sale nearby – The Mercury in Shanghai Road – was launched in March this year. Its 67 units went for a lower price range of $779 psf to $1,258 psf in March and April.
Market observers have said that more developers are preparing to launch their projects, hoping to bank on the renewed buying interest in the market.
Demand for new projects has generally risen as developers lower prices from earlier levels. The buying mood has also largely been helped by the recent rally in the stock market, observers said.
However, quite a number of individual sellers appear to have started raising their prices from the lows, following in the footsteps of some developers.
Upcoming major launches this month may include the 152-unit One Devonshire in the Killiney Road area, the 388-unit Oasis@Elias in Pasir Ris and Frasers Centrepoint Homes’ 330-unit leasehold project near the Woodleigh MRT station.
The Straits Times
FRESH evidence emerged yesterday of a possible short-term rebound in the private residential market with strong demand at a 91-unit development in River Valley.
A quiet relaunch preview was held at the freehold Nathan Residences – and 75 units were snapped up quickly. These sales were sealed even though there was no interest absorption scheme or stamp duty waiver to entice buyers.
The deals were done at $1,220 to $1,320 per sq ft – a level market observers say is not entirely cheap but is easily 30 per cent to 35 per cent below last year’s prices.
Small developer Tat Aik first released the Nathan Road project for sale in September last year.
At prices averaging $1,800 to $2,000 psf, the project saw no takers.
Yesterday, the one-bedders were sold from about $730,000 to $785,000 while the two-bedders went for about $960,000 to just over $1 million. Those are the only two options at Nathan Residences – the one-bedders at 592 sq ft and the two-bedders at 786 sq ft.
All the one-bedders have been sold. The left-over units include eight penthouses costing around $1.6 million each and a few ground-floor units priced around $1.2 million.
Knight Frank, which marketed the project, said buyers were mostly couples and singles, and an overwhelming number were locals and permanent residents. HDB upgraders made up about 30 per cent of buyers.
‘This shows that confidence is back and people are willing to buy when something good comes along,’ said its executive director, Mr Peter Ow.
A new sold-out project sale nearby – The Mercury in Shanghai Road – was launched in March this year. Its 67 units went for a lower price range of $779 psf to $1,258 psf in March and April.
Market observers have said that more developers are preparing to launch their projects, hoping to bank on the renewed buying interest in the market.
Demand for new projects has generally risen as developers lower prices from earlier levels. The buying mood has also largely been helped by the recent rally in the stock market, observers said.
However, quite a number of individual sellers appear to have started raising their prices from the lows, following in the footsteps of some developers.
Upcoming major launches this month may include the 152-unit One Devonshire in the Killiney Road area, the 388-unit Oasis@Elias in Pasir Ris and Frasers Centrepoint Homes’ 330-unit leasehold project near the Woodleigh MRT station.
Tuesday, June 2, 2009
Nathan Residences
Nathan Residences Launched.
Nathan ResidencesWhere the sky & landscape meets.......Nathan Residences, a freehold development consists of two towers of 91 units apartment, comprising of luxurious 1 & 2 bedroom type. All apartments come with a spacious balcony.
Close proximity to the upcoming Business Financial District, Marina Integrated Resort and the vivacious Orchard Turn & Orchard Central is a heaven for city dwellers.
Located in a private estate near to good class bungalows, this hip development will appeal to the young, successful and mobile. Nathan Residences – the home you want to own.
Project Name : Nathan Residences (Former NATHAN COURT)
Developer : Tat Aik Property Pte Ltd
Tenure : Freehold
Total Units : 91
Address : 23 /25 Nathan Road
Expected TOP : est 31 dec 2015 (realistically early 2012)
District : 10
Unit Types :
- 1 bedroom / Studio (592 - 861sf)
- 2 bedroom (786 - 958sf)
- Penthouse (1012 - 1238sf)
- Chill-out Area
- Gym
- Vichy Shower
- Lobby Lounge
- Swimming Pool
- BBQ Pits
- Steam Room
- Male & Female Changing Room
- Landscape Gardens
- Water Features
Nathan Residences Living Room
Nathan Residences Bedroom
Nathan Residences Site Plan
Please call or sms 9763 9937 or email camiliang@gmail.com for Nathan Residences' floorplans. Do register your interest for the invitation to preview at 9763 9937.
Developers sell close to 1,200 homes in May
2 June 09
The Business Times
DEVELOPERS sold an estimated 1,200 private home units in May, according to market watchers. This is comparable to the 1,207 units they sold in April, based on official Urban Redevelopment Authority (URA) numbers.
A BT survey across nine developers as well as some property agents yesterday already showed that some 1,130 units were sold last month. 'Developers could have easily sold about 1,200 units in May if you include all the smaller pockets of developments as well,' a seasoned residential property consultant estimated.
However, BT understands that some units may also be returned by buyers who may have got caught up in the home-buying frenzy fuelled by the stockmarket rally in the past few weeks.
Frasers Centrepoint sold a total 294 units in May - comprising 186 units at Martin Place Residences at Kim Yam Road, 46 at Caspian in the Jurong Lake District, 22 units at Woodsville 28, and 40 homes at Waterfront Waves.
Frasers Centrepoint is developing Waterfront Waves, near Bedok Reservoir, jointly with Far East Organization. The latter sold a total of 165 units (inclusive of Waterfront Waves) last month.
BT eliminated the double-counting for joint-venture projects in arriving at the May sales tally.
City Developments reported total sales of 138 units (of which 97 units came from The Arte at Thomson and 36 units from Livia in Pasir Ris) in May.
CapitaLand also achieved brisk sales for The Wharf Residence at Tong Watt Road.
EL Development also found buyers for a total of 74 units last month (comprising Parc Centennial at Kampong Java Road and Rosewood Suites in Woodlands).
Soilbuild is understood to have sold close to 90 units at The Mezzo in the Balestier location. In other developments, sales of around 30 units were seen for Kovan Residences and 21 units at BelleRive in Bukit Timah.
According to official government numbers, developers sold 1,332 private homes in February, followed by 1,220 units in March and 1,207 units in April.
Lower property prices have been the main attraction for buyers, said DTZ executive director Ong Choon Fah.
Many developers have either re-priced or re-sized their units to make them more affordable.
Many people also feel that residential property prices have corrected substantially, she added.
'The thinking is: whether it's the bottom or not, probably the worst is over so it's about time to go in.
'The recent stockmarket rally has also helped to improve sentiments, Mrs Ong said.
With sales momentum gathering, developers have been gradually inching up prices for mass-market and mid/upper segment projects, following earlier price reductions from the 2007 peak levels.
However, pricing power is not expected to return to developers of luxury projects anytime soon. 'The price push in 2006-2007 period came from overseas buyers; this segment is still out of action,' a developer said.
A veteran developer observed that buyers now include those who had been sidelined by the rapid price surge in 2007.
Whereas the 2006/2007 residential property bullrun was substantially wealth-driven, with a strong element of overseas money, the current recovery in home buying has started in the mass-market and is now permeating to the mid/upper-middle segments, he added.
'So this is a traditional, bottom-up recovery, which is more sustainable. Upward price movements will be constrained by affordability at the end of the day,' he added.
DTZ's Mrs Ong too agrees that while there is 'cautious optimism' in the property market, developers are unlikely to raise prices significantly at this point in time.
Some developers may have lowered the level of discounts for projects that have sold well but they are doing this carefully.
'You don't want to derail the momentum that has been built up,' she said.
The Business Times
DEVELOPERS sold an estimated 1,200 private home units in May, according to market watchers. This is comparable to the 1,207 units they sold in April, based on official Urban Redevelopment Authority (URA) numbers.
A BT survey across nine developers as well as some property agents yesterday already showed that some 1,130 units were sold last month. 'Developers could have easily sold about 1,200 units in May if you include all the smaller pockets of developments as well,' a seasoned residential property consultant estimated.
However, BT understands that some units may also be returned by buyers who may have got caught up in the home-buying frenzy fuelled by the stockmarket rally in the past few weeks.
Frasers Centrepoint sold a total 294 units in May - comprising 186 units at Martin Place Residences at Kim Yam Road, 46 at Caspian in the Jurong Lake District, 22 units at Woodsville 28, and 40 homes at Waterfront Waves.
Frasers Centrepoint is developing Waterfront Waves, near Bedok Reservoir, jointly with Far East Organization. The latter sold a total of 165 units (inclusive of Waterfront Waves) last month.
BT eliminated the double-counting for joint-venture projects in arriving at the May sales tally.
City Developments reported total sales of 138 units (of which 97 units came from The Arte at Thomson and 36 units from Livia in Pasir Ris) in May.
CapitaLand also achieved brisk sales for The Wharf Residence at Tong Watt Road.
EL Development also found buyers for a total of 74 units last month (comprising Parc Centennial at Kampong Java Road and Rosewood Suites in Woodlands).
Soilbuild is understood to have sold close to 90 units at The Mezzo in the Balestier location. In other developments, sales of around 30 units were seen for Kovan Residences and 21 units at BelleRive in Bukit Timah.
According to official government numbers, developers sold 1,332 private homes in February, followed by 1,220 units in March and 1,207 units in April.
Lower property prices have been the main attraction for buyers, said DTZ executive director Ong Choon Fah.
Many developers have either re-priced or re-sized their units to make them more affordable.
Many people also feel that residential property prices have corrected substantially, she added.
'The thinking is: whether it's the bottom or not, probably the worst is over so it's about time to go in.
'The recent stockmarket rally has also helped to improve sentiments, Mrs Ong said.
With sales momentum gathering, developers have been gradually inching up prices for mass-market and mid/upper segment projects, following earlier price reductions from the 2007 peak levels.
However, pricing power is not expected to return to developers of luxury projects anytime soon. 'The price push in 2006-2007 period came from overseas buyers; this segment is still out of action,' a developer said.
A veteran developer observed that buyers now include those who had been sidelined by the rapid price surge in 2007.
Whereas the 2006/2007 residential property bullrun was substantially wealth-driven, with a strong element of overseas money, the current recovery in home buying has started in the mass-market and is now permeating to the mid/upper-middle segments, he added.
'So this is a traditional, bottom-up recovery, which is more sustainable. Upward price movements will be constrained by affordability at the end of the day,' he added.
DTZ's Mrs Ong too agrees that while there is 'cautious optimism' in the property market, developers are unlikely to raise prices significantly at this point in time.
Some developers may have lowered the level of discounts for projects that have sold well but they are doing this carefully.
'You don't want to derail the momentum that has been built up,' she said.
Meadows @ Pierce
Meadows @ Pierce launch date: 24th July 2009
Developer : UOL Development Pte Ltd
Tenure : Freehold
Location : Upper Thomson Road (Opposite Pierce Reservoir)
Number of units: 479
Number of block: 1 block of 14 storey and 3 block of 5 storey
TOP : 30 September 2012
Unit Types:
1-Bedroom: 517 - 635 sqft
2-Bedroom: 915 - 1238 sqft
2-Bedroom + PES : 969 - 1238 sqft
3 Bedroom: 1184 - 1518 sqft
3 Bedroom + PES : 1356 -1776 sqft
4 Bedroom: 1625 - 2077 sqft
4 Bedroom + PES : 1981 - 2121 sqft
Garden Mansionette : 2659 – 2702 sqft
Penthouse (3-bedroom + RT ): 2045 - 2236 sqft
Penthouse (4-bedroom + RT ): 2583 - 3068 sqft
Developer : UOL Development Pte Ltd
Tenure : Freehold
Location : Upper Thomson Road (Opposite Pierce Reservoir)
Number of units: 479
Number of block: 1 block of 14 storey and 3 block of 5 storey
TOP : 30 September 2012
Unit Types:
1-Bedroom: 517 - 635 sqft
2-Bedroom: 915 - 1238 sqft
2-Bedroom + PES : 969 - 1238 sqft
3 Bedroom: 1184 - 1518 sqft
3 Bedroom + PES : 1356 -1776 sqft
4 Bedroom: 1625 - 2077 sqft
4 Bedroom + PES : 1981 - 2121 sqft
Garden Mansionette : 2659 – 2702 sqft
Penthouse (3-bedroom + RT ): 2045 - 2236 sqft
Penthouse (4-bedroom + RT ): 2583 - 3068 sqft
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