Singapore Developer Launches

Ascentia Sky

sgadmin — Mon, 20 May 2013 11:24:57 +0000

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Jewel @ Buangkok

sgadmin — Wed, 15 May 2013 12:20:33 +0000

Jewel @ Buangkok is a new project in city fringe near to the MRT station and popular schools.

Every essence of prestige and dynamism presents itself when you inhabit the residential address. With incredible amenities and facilities, you lead a flawless lifestyle.

Jewel @ Buangkok consists of residential units and varied designs of 1 bedroom apartments to 5 bedrooms penthouse units, the habitat is brilliantly mapped out in the convenient location.

When the city is your neighbour, you can simply expect a vibrant lifestyle. Being minutes away from everywhere that matter by MRT rides, you can enjoy the wonderful lifestyle that you deserve. Furthermore, getting to the CBD is about 20 minutes ride away only.

You can immerse in the blend of activities like shopping, fine dining, clubbing or buy your groceries at the shops, eateries and supermarkets which can be found around the neighbourhood.

Unparallel qualities and comfort seemingly greet you everywhere you turn within the premises. Here you have the freedom to immerse your mind and body in complete relaxation, in total serenity. With a comprehensive range of facilities from a to z and beyond within the development, achieving personal fitness goals is now within reach.

With a touch of elegance and galore of flawless qualities, your quartz table-top kitchen with built in fridge, oven, hood and hobs is transformed into a hot spot for stylish gatherings. Every unit is provided with Hyflux water filteration system for healthy drinking water. By marrying functional designs with elegant craftsmanship, the bathrooms are ensemble of sanitary fixtures and fittings by top brands for that finest touch.

There are two colour themes – warm and cool – to suit everyone’s differing taste and needs in a place they call home.

When the city is just a short drive away and just minutes away from everywhere that matter, your residence will benefit from the good infrastructure.

Whether you are an investor or owner occupier, Jewel @ Buangkok is the right residential new property new launch for good return on investment.

Jewel @ Buangkok is scheduled for VVIP Preview soon.

Special Developer’s VIP Discount prices available from us at attractive low quantum.

Chateau Eliza was sold collectively for $92m

sgadmin — Mon, 06 May 2013 08:05:51 +0000

The off Orchard Road freehold condo, Chateau Eliza was sold for $92.2 million in the enbloc sale. Each sellers in the 37 units development are expected to receive from about $2 million to slight above $6 million.

The purchaser for this collective sale is Newfort Realty. The gross floor area is 52,887 sq ft which works out to a sold price of $1,743 psf ppr. This will be the most expensive collective sale based on psf ppr basis for a residential site. The last record was held by Westwood Apartments in 2007.

This site has a land area of 17,997 sq ft and the buyer for this site does not have to pay any development charge. The site has a plot ratio of 2.8 for residential use from the URA 2008 Master Plan.

This land parcel can yield more than 70 apartments of about 800 square feet each. The break-even cost is estimated to be from $2,400 to $2,500 psf.

The new development will be near to schools like Anglo-Chinese (Junior) and Anglo-Chinese (Barker Road), St Margaret’s Primary and St Joseph’s Institution.

To accommodate more than 6 million population in Singapore

sgadmin — Mon, 06 May 2013 08:04:28 +0000

A balance is required to house over 6 million population in Singapore without sacrificing quality of life if the authority plan it well.

On top of land reclamation, we can also redevelop matured towns with low population densities and those that are near to transport hubs.

While Denser cities are energy-efficient, they can also create stress in the form of longer waiting times, crowded buses and MRT trains etc. To counter this aspect, we should maintain our parks, open spaces and nature reserve.

About 60% of our total land area is currently built-up while the balance land are reserved for for military training or water catchment area.

To grow our population to 6.5 million and maintain our built-up area at 60% of our land, then we need to increase our density. Currently, density of our built up land is from 12,000 to 13,000 people per square kilometre. This is still lower than many of our Asian neighbours. The eventual average density would be about 14,000 people per sq km.

Presently, our Bukit Batok town has already achieved this level of density with a mixture of high-rise residential buildings coupled with amenities like schools, public transport and parks.

City area with excellent public transport will be able to accommodate even higher densities with proper planning to address overcrowding, noise and other environmental repercussion that may arise from a denser living location.

Summary of Residential Policy Measures

sgadmin — Mon, 06 May 2013 08:03:22 +0000

Below is a summary of Singapore policy measures for purchase of residential properties from Sept 2009 :

A Sentosa Cove Bungalow sets new price benchmark.

sgadmin — Mon, 06 May 2013 08:02:12 +0000

A Sentosa Cove bungalow located at Ocean Drive was transacted at $32.5 million setting a new benchmark in per square foot basis at $3,214 psf sited on a land area of 10,111 sq ft. Foreigners are only allowed to purchase landed properties located in Sentosa Cove which bear a 99-year leasehold tenure.

In 2010, a Sentosa Cove bungalow sited on a 9,336 sq ft land was sold for $28.2 million which works out to $2,989 psf which is just a few doors away from this bungalow which was the previous price benchmark.

In Q3 2012, the landed property sector has maintained the bullish price trend which achieved a 1.1% gain as compared to the 0.6% price gain for the overall residential market.

The price breakdown for the landed property sector during this quarter is as follows :

+2.0% for Detached landed property which leapfrog from the -0.4% decline in Q2 2012.
+0.6% for Semi-detached property.
+0.8% for Terrace houses.

Evidently, the landed property sector has achieved robust demand due to its limited supply.

In terms of transaction volume, Serangoon area achieved the highest volume with 156 houses sold as compared to 117 houses in Q2 2012 which is a gain of 33% quarter over quarter.

Singapore’s richest 1% has taxable income of $700k

sgadmin — Mon, 06 May 2013 08:00:39 +0000

According to the Finance Ministry report, our top 1% earners declared an average annual income of $700,000. In Year of Assessment (YA) 2009, the number of individuals in this elite group were numbered at 29,524. Four years later, in YA 2012, the number has grown to 32,285.

These figures were revealed for the first time in response to a query from Non-Constituency MP Gerald Giam in Parliament recently. In the report, it also reveal the wealth distribution in Singapore to allay rising concerns of perceived increasing income gap. Our finance minister mentioned that incomes over the past four years would be better gauge for the comparison as some income had been exempted over the years, which would makes the income base different where most exemptions from tax were introduced before the 2009 Year of Assessment and individual tax payers are only required to declare income that is taxable.

Income disparity in Singapore has deem to a concern as the high earning population in the top 10% of Singapore households have witness their income outpace those in the bottom 10%. The Gini co-efficient, a measure of income inequality, has been reported to have risen from 0.45 to 0.47 over the last decade.

New residential hotspot price range : sub-$1.5m

sgadmin — Mon, 06 May 2013 07:58:52 +0000

As an effect to the numerous residential cooling measures, demand for lower priced apartments and condominium is expected to be the gain in particular properties that are under S$1.5 million.

In the latest measure, it affects the affordability factor based on the age of buyers.

For first time home buyers who are 35 years old and below earning a monthly household income of $12,000 and basing on debt servicing ratio of 35%, then they could look for homes worth about maximum $1.5 mil to $1.6 mil for a 30-year loan period.

If the same buyers want to reduce the loan term to 25 years, then basing on the same debt servicing ratio, the maximum purchase price would be $1.3 million to $1.4 million.

The maximum loan period that buyers can go for without paying higher cash and/or CPF deposit is determined by 65 minus age of buyers.

However, if the debt servicing ratio were to increase to 40%, then the maximum purchase price is corresponding increase.

There are ample homes that are within this sub-$1.5 million for home buyers to select from.

Analysts are expecting prices to increase still though at 0.1% to 0.3% for Q4 2012.

Expats have a liking for Parkway Parade condo enclave

sgadmin — Mon, 06 May 2013 07:56:06 +0000

Exраtѕ ѕееm tо hаvе а lіkіng fоr соndоmіnіumѕ thаt аrе nеаr tо Pаrkwау Pаrаdе аnd Ambеr Rоаd еnсlаvе whісh wеrе uѕеd tо bе оld bungаlоwѕ аlоng thе bеасhfrоnt rоаd.

Thе аrеа, іn Dіѕtrісt 15 ѕtіll rеtаіnѕ ѕоmе рrе-wаr flаvоur wіth hіѕtоrісаl lаndmаrkѕ ѕuсh аѕ thе Chіnеѕе Swіmmіng Club, fоundеd іn 1905.

Thе оutlооk fоr thіѕ еѕtаtе іѕ еnсоurаgіng fоr оwnеrѕ, duе tо thе рrоxіmіtу tо Eаѕt Cоаѕt Pаrk аnd thе vеrу еntrеnсhеd mіndѕеt аmоng buуеrѕ thаt thіѕ іѕ аmоng thе uрреr-есhеlоn, nісhе lосаlіtіеѕ іn thе еаѕt.

Mоѕt hоmеѕ hеrе аrе рrіvаtе. Mајоr соndоmіnіum рrојесtѕ іn thе аrеа іnсludе thе 400-unіt Thе Eѕtа, whісh wаѕ соmрlеtеd іn 2008, аnd Onе Ambеr, wіth 562 араrtmеntѕ fіnіѕhеd іn 2010. Bоth аrе frееhоld рrореrtіеѕ.

Thе 114-unіt frееhоld Ambеr Rеѕіdеnсеѕ оbtаіnеd іtѕ tеmроrаrу оссuраtіоn реrmіt (TOP) lаѕt уеаr, whіlе thе frееhоld Thе Cаре, wіth 76 араrtmеntѕ, wаѕ lаunсhеd wіth а TOP еxресtеd іn 2015.

Anаlуѕtѕ еxресt аbоut 700 nеw hоmеѕ tо bе соmрlеtеd іn thе nеxt fеw уеаrѕ.

Thе bulk оf thеѕе wіll соmе frоm Sіlvеrѕеа, аѕ wеll аѕ frоm thе соllесtіvе ѕаlе іn Jаnuаrу lаѕt уеаr оf Mаrіnе Pоіnt оn Mаrіnе Pаrаdе Rоаd, whісh іѕ еxресtеd tо bе rеdеvеlореd іntо аrоund 150 frееhоld рrіvаtе rеѕіdеntіаl unіtѕ.

Ovеrаll, dеvеlореr рrісеѕ fоr 99-уеаr lеаѕеhоld аnd frееhоld рrореrtіеѕ іn thе Ambеr Rоаd аrеа rаngе frоm $1,600 реr ѕq ft (рѕf) tо $2,000 рѕf, аnаlуѕtѕ ѕаіd.

Rерutаblе ѕсhооlѕ ѕuсh аѕ Cоnvеnt оf thе Hоlу Infаnt Jеѕuѕ Kаtоng Prіmаrу Sсhооl аnd Tао Nаn Sсhооl аrе аlѕо сlоѕе bу.

Mоnthlу rеntѕ аt Ambеr Rеѕіdеnсеѕ rаngе frоm $5,000 tо $6,800, аnd аt Onе Ambеr, frоm $3,700 tо $6,600.

Anоthеr nеwеr рrојесt, thе 546-unіt Thе Sеаvіеw, whісh оbtаіnеd іtѕ TOP іn 2008, hаѕ ѕееn а ѕіmіlаr lеvеl оf rеѕаlе асtіvіtу.

Bishan site sold to Capitaland

sgadmin — Mon, 06 May 2013 07:55:04 +0000

The land site beside Sky Habitat was sold to Capitaland for $505 million as the highest bidder for the prime Bishan site.

This works out to $853 psf ppr for the 11,227 sq metre site at Bishan Street 14. In total, there were 9 bidders for this land site.

The second highest bidder was from SingLand Homes, UOL Venture Investments and Orix Investment and Management with a bid of $490.1 million which is 2.9% lower or $828 psf ppr. The close highest and second highest bid reflect the developers confidence in the property market and are ready to bid high in the current market.

Also notable are the other bidders which include MCL Land, Frasers Centrepoint, Far East Organization who are all formidable property developers.

Seven developers bided higher than $700 psf ppr. The bidders were aware that unless they placed a high bid, the chances of securing this prime suburban site is very low.

Based on the winning bid, the estimated breakeven price worked out to be in the range of $1,350 to $1,400 psf. The selling price could be close to Sky Habitat’s selling price of $1700 psf as they are both from CapitaLand majority joint venture and the respective land cost are quite close too.

The winner plans to develop it into a condominium of about 700 units to be launched in the second half of 2013.

Both developments are envisioned by the developers to offer the owners a chic lifestyle living at the popular Bishan town.