Singaporean Buyers For Home Property Demand Continues to Rise

Artist image of Lake Grande

Artist image of Lake Grande

The Uptrend?

The residential market is seeing growing demand from local buyers, who accounted for around 76 percent of house sales in Q3 2016, shown a report from Edmund Tie & Co.Home purchases by buyers with HDB addresses, however, fell from 1,792 units in Q2 to 1,480 units in Q3.

The Projects Stats

Lake Grande issued as typically the most popular project among Singaporeans during the quarter, with 441 units sold to local buyers, while The Trilinq (63 units sold) and The Poiz Residences (51 units sold) came in a distant second and third, respectively.

Foreign buyers, on the other hand, accounted for almost 23 percent of home purchases, with the amount of sales to Singapore permanent residents (SPR) falling to 784 units in Q3 from 816 units during the preceding quarter. Purchases by non-permanent residents (NPR) also fell to 240 units from 302 units formerly.

“Mirroring the predilections of Singaporeans, SPR buyers were attracted at Jurong Lakeside District to Lake Grande, registering 59 dwelling acquisitions,” said the report.

“The possibility of Jurong Lakeside District becoming the second CBD additionally attracted NPR buyers, registering 14 purchases in Q3 and highest among the developments.”
Next year will see more challenges as there are mega projects launching like the Grandeur Park Condo, The Artra Condo by Tangs Skyline!

What’s NPR Buyers Buying?

NPR buyers were also brought to developments in prime locations, including Gramercy Park, Sophia Hills and Marina One Homes.

In Q3, houses sales increased by one percent quarter-on-quarter to 4,596 units.

The property consultancy attributed the uptick in trades to the more powerful showing in the resale market, which registered a 15.7 percent quarter-on-quarter increase in sales. Primary home sales dropped 13.2 percent due to slower sales in August.

But despite the escalation in transaction volume, home prices stayed soft as the Urban Redevelopment Authority’s (URA) private residential property price index dropped 1.5 percent quarter-on-quarter in Q3, its 12th straight quarter of decline.

Moving Forward

Looking ahead,  Edmund Tie & Co expects home prices to ease further, as the city state’s economy continues to face headwinds. The economy grew 0.6 percent year-on-year in Q3, which was lower than anticipated.

“With the economy slowing, the Monetary Authority of Singapore (MAS) cautioned families to consider their housing choices carefully, as retirement adequacy might be compromised should households overstretched their finances,” it said.

However, costs of properties close to transport facilities and conveniences are expected to stay resilient.

“The projects in 2017’s pipeline are very appealing, and are expected to garner much interest. We expect most projects in 2017 to do well, given their alternative locations,” it included.

UOL Set to launch 2 Projects in 2017

The Clement Canopy in Clementi is set to be launch in early 2017.

The Clement Canopy, a 505-unit condominium in Clementi in which UOL possesses a 50 percent stake, is anticipated to start in the first quarter of 2017.

UOL has seen strong sales at its Singapore projects that were formerly established. The 797-unit Botanique at Bartley recorded a take up rate of 96 percent, while Riverbank @ Fernvale and Principal Garden are 43 percent and 78 percent sold, respectively.

With this, the group’s sales for the quarter increased 11 percent year-on-year to $393 million, on the rear of higher topline contributions across its resort, property development and property investment sections.

Property development sales, for example, soared 19 percent year-on-year to Principal Garden, Riverbank @ Fernvale and $207 million due to higher progressive acknowledgement from Botanique at Bartley, said OCBC.

2017 will see many interesting launches, like CEL Grandeur Park Residences too!

 

Forest Woods Condo

Forest woods condominium can be found at a perfect location. The place is completely developed and provides all the essential conveniences that an average person needs. The surrounding area is full of options for business opportunities, education, entertainment, and private development. Forest woods condominium is located at Lorong Lew Lian in Serangoon estate; that is a classy district. I would like to describe, how the surrounding region development benefits to the Forest woods condo future residents.

As you know, Forest woods condo is located in a modern atmosphere that is fully grown. Moreover, besides amenities, the people from the surrounding region are also well educated and mature. Most of the bunch is from wealthy strata or the business class, and it adds to the beauty of the place. Your child will develop viewing people that are such, and that helps his mental development.

Prices for Private home down for 11th straight quarter

This represents the 11th straight quarter of prices drops, the longest losing streak on record.

The Core Central Region (CCR) and Rest of Central Region (RCR) found non-landed private home costs increase by 0.2 percent and 0.3 percent respectively, while the Outside Central Region (OCR) filed a 0.7 percent fall in prices.

The latest indexes are combined across the different areas, but there are indications the market is approaching a trough said Head of CBRE Research, Desmond Sim, Singapore and South East Asia.

He anticipates the increase and prop up the total price index for the next quarter to hover at the area of zero percentage”.

Meanwhile, the success of new projects including Gem Residences By Gem Homes and Sturdee Residences By SL, along with finished projects on the resale marketplace, have helped to raise price levels in the RCR. Foreseeing that the next upcoming projects like Treasure Crest, Northwave and The Clement Canopy will be another factors in the up and down of price indexes.

The URA’s flash approximations were compiled based on trade costs given in contracts submitted for information and stamp duty payment on new units sold by developers up till mid-June.

The URA will release the data that is complete four weeks after.

Little Thoughts of Retrenching

retrenchedWow, this is a sobering reality check. Civil servants are pretty safe from the turmoils of the private sector, so don’t complain hor ! Haaa (Kidding)
This short video is worth your 2 minutes. Ask yourself this question. If you lose your job today and cannot find another one, what would you do? Can you meet your financial obligations? Will your world start to crumble? Will your health start to suffer. What skills do you have that can help you survive?
The mission has always been, to steer folks from scams and to empower them through stock and property investment bootcamps so they have a solid back up whether they still hold on their jobs or become jobless not out of choice
Start thinking… =)

Much Talked Upcoming Executive Condo – Treasure Crest EC

Sim Lian Group’s latest launch, the Treasure Crest EC is set to impress the homeowners with their smash development which nestled within Anchorvale Crescent. Situated only between The Vales EC and the Bellewaters EC, many are expecting this new launch particularly when the previous 2 predecessors, having done well previously in a bearish market and it is scheduled to be completed by the mid of 2019

The Developer, Sim Lian Group is among the well-recognized developer in Singapore and has been building quality houses for Singaporeans for over 35 years. Sim Lian Group is headed by a team of top-notch property people that have varied expertise in building quality projects in Singapore. Anticipate nothing second-rate, in regards to the appointments, fixtures externally. This is actually superiority above the standard!

treasure-crest-executive-condoTo Sengkang residents, the LRT system travels has been a trusted source of transportation for back and forth. Treasure Crest EC is right by the periphery of Cheng Lim LRT, for hassle-less traveling towards the interchange. Did I also say that residents are spoilt for transportation picks? Wait upward. Not only is the LRT within close proximity, MRT station and Sengkang Bus Interchange is really within walking distance! Conservatively, anticipate no more than 10minutes of slow walks to your closest mega mall – One Sengkang Mall (also previously called Compass Point).

Driving is undoubtedly not a must as a result of it’s transportation and location options. In that being said, we’re never undermined from the tranquility and peacefulness within Anchorvale Crescent, because of the cleverly layouts of the facade, the land raising and the arrangement of the windows /balconies.

Over the past decades, with it’s homesick tinge in nature Sengkang have been reforming incredibly, to blend in with the nearby estate, and it’s touches of urbanization. Our ever-popular Nan Chiau and CHIJ (Notable Schools) are about 2km from our project. That said, deciding and sending your kid is currently made by foot! They say time is the key to a joyful lifestyle; time preserved is the essence to a lifestyle that is perfect!

Increasing tendency of deferred payment schemes among developers

Increasing tendency of deferred payment schemes among developers

The truth is, two more developers are currently offering the choice following the recent success of OUE Twin Peaks, which offered the scheme.

The scheme partially bets on whether present loan-to-value limitations will be fine tuned, since nearly all the buyer’s payment is normally needed after.

CapitaLand lately introduced its variant of the scheme at The d’Leedon and Interlace condominiums, where about 20 units have since been sold.

Buyers at CapitaLand’s stay-then-pay strategy love a 15 percent reduction, and can go into the unit once they’ve exercised the Option to Purchase (OTP). While paying from the OTP buyers subsequently make a 10 percent downpayment in eight weeks.

Foreign buyers, on the other hand, pay from the said date, and can pay a 15 percent downpayment from exercising the OTP.

Buyers who take up the scheme aren’t permitted to rent out their unit. As at end-March, CapitaLand had 99 unsold units at 181 unsold units and The Interlace at d’Leedon.

The developers of The Boutiq in Killiney Road are also using a similar strategy.

Savills Singapore Research Head Alan Cheong noted the growing use of deferred payment schemes suggests the marketplace is having trouble clearing unsold stock.

“Developer sales may have improved but there’s still lots of supply to be soaked up said a senior associate in Dentons Rodyk’s Property practice group, Lee Liat Yeang.

Orchard apartment paid for $21m

Indonesian tycoon Trihatma Kusuma Haliman is considered to have purchased a seventh floor unit at the Le Nouvel Ardmore condominium near Orchard Road for $21 million, reported The Business Times.

This translates to $4,006 psf based on the 5,242 sq ft strata region, which contains a strata null region of 280 sq ft.

Trihatma commands Indonesian property group Agung Podomoro Property, which has lately been in Indonesia under the limelight.

Agung Podomoro Property is among the leading investors of the Pluit City reclamation project that is planned.

Meanwhile, the flat obtained by Trihatma will be the sixth unit sold by Wing Tai within the project that is freehold.

Designed by 2008 Pritzker Architecture Prize winner Jean Nouvel, the 43-unit condominium received its TOP in April 2014.

Wing Tai sold the first unit Cheng Wai Family, the oldest brother of Group Chairman Cheng Wai Keung. at the project for $4,362 psf in 2011 to Edgar At more than $4,300 psf., it sold two more units in 2013

The developer would have began paying extension fees for the project, as it did not satisfy the two-year deadline from the TOP date to sell all units within the project under the Qualifying Certificate (QC) rules, which is directed at preventing foreign property developers from hoarding or theorizing in residential acreage here.