Singapore Property Weekly Issue 229

8/20/2019 Singapore Property Weekly Issue 229

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Issue 229Copyright © 2011-2014 www.Propwise.sg. All Rights Reserved.

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CONTENTS

p2 Achieving True Freedom through

Property Investing

p6 Singapore Property News This Week

p9 Resale Property Transactions

(September 23 – September 29 )

Welcome to the 229th edition of the

Singapore Property Weekly .

Hope you like it!

Mr. Propwise

FROM THE

EDITOR

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SINGAPORE PROPERTY WEEKLY Issue 229

Page | 2Back to Contents

By Dr. Patrick Liew (guest contributor)

Real estate meets a basic need for shelter. It

is a major contributor to our comfort,

happiness and overall well-being. It is a

platform that can be used to strengthen a

community and improve society. It is also animportant pillar to strengthen the economy

and make the world a better home.

The investment value of real estate

As an investment instrument, real estate is

generally treated as an AAA-class of investment. It is known to appreciate faster

than the inflation rate and can therefore

contribute to the preservation and growth of

wealth.

Achieving True Freedom through Property Investing


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Property investors can leverage on bank

borrowings and other forms of fund-raising to

own real estate. Subsequently, real estate

can also be used as collateral to unlock cash

for further investment or to be used in an

emergency.

Through astute property investment, investors

can profit in several ways. The returns on an

investment include capital appreciation, rental

yield, en-bloc potential, profit from additionand alteration, and several other ways to

value-add to the original investment.

That's why many millionaires have become

rich directly or indirectly from real estate

investment. It is not uncommon to hear from

many astute investors that they have made

more money from real estate investment than

from their savings, business profits, and

returns from other instruments of investment

combined.

The sad truth about real estate investment

The sad truth about real estate investment is

that most people are ignorant and apathetic

about it. Many have lost a large part of their hard-earned money to the people who are in

the know.

As part of my doctorate studies, I focused on

financial intelligence – in other words, how to

earn, preserve, invest, grow, and spend

wealth wisely.

I discovered that most people across the

developed and developing world either have

no or a low level of financial intelligence. In

particular, they have an inadequate level of

financial intelligence for real estateinvestment even though they have to be

involved in buying, selling, leasing, and

transacting some properties in their life.


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Research shows that the lack of financial

intelligence can cause a cascade of negative

effects, including the incurring of unnecessary

debt and other negative effects on their

family, community, economy and society.

Increasing your level of financial

intelligence in property investment

The low level of most people’s financial

intelligence in property investment is a result

of a lack of education by their parents andsociety. They were not taught about real

estate investment through their formal

education or by their bosses and colleagues

in the workplace.

In addition, they do not have credible and

competent friends or acquaintances who can

help them learn this critical skill, which can

help in their survival and success in life. To

make matters worse, many of them are

misled by friends and even some self-

proclaimed experts, some of whom are prone

to dishing out the wrong advice, even if it is

out of good intentions.

I feel that is it part of my calling to educate

people about real estate investment and

empower them to achieve true wealth from it.

Real estate as a means to true freedom

I have always said that if you invest in the

right real estate, it will help you achieve true

freedom. When you achieve true freedom,

you have financial freedom, time freedom,

lifestyle freedom, and contribution freedom.

In other words, you have the freedom to fulfil

your dreams and the time to enjoy the fruitsof your dreams. You can experience the best

of life and provide the best to your loved ones

and the people around you.


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I'm honoured and humbled to be given an

opportunity to share about real estate

investment with another group of "hungry"

participants, who want to know how to profit

from real estate investment to achieve true

freedom.

Dr. Patrick Liew was previously the Chairman

and CEO of HSR, a listed property agency,

and has founded and listed two companies. In

addition to an MBA, MSc and BSc, he hasachieved a PhD based on his work on

Financial Intelligence. He has started many

charities and works with schools to provide

free financial education to young people. His

mission is to help ordinary people create,

invest and grow their wealth.Click here to signup for his free talks on Street-Smart Property

Investment Strategies.

http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.moneymatters.sg/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/http://www.propwise.sg/events/


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Singapore Property This Week


Residential

H D B r e sa le p r ice s f e l l b y 0 . 4 % w h ile r e sa le

tr an sac tio ns in cr eas ed b y 3.9% in

Se p t e mb e r

Data from SRX Property showed that as HDB

resale prices fell by 0.4% month-on-month in

September, resale transactions rose by 3.9%

to 1,504 units in September, up from the

1,447 units that changed hands in August this

year. Market experts said that the fall in

prices is gradual and stable, and they believe

that a slow moderation of prices is expected

to continue for the rest of the year. On the

whole, market experts predict that there will

be a 2% to 3% drop in resale prices this year.

Ong Kah Seng from R’ST Research said that

in H2 2015, price changes have been

minimal; with just fluctuations of 0.5% month-

on-month. Ismail Gafoor from PropNex added

that more buyers are entering the market as

the current price point is attractive for young

couples and upgraders.

(Source: Business Times)

M OF : n o c h an g e t o 5 -y ear d ea dl in e f o r

d ev el op ers t o c o m plet e an d s el l o ff a

p r o j e c t

According to the Ministry of Finance (MOF),

there will be no change to the 5-year deadline

for developers to complete and sell of a

residential project.

SINGAPORE PROPERTY WEEKLY I 229


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If developers fail to meet this deadline, they

will have to pay 15% additional buyer’s stamp

duty with interest calculated at 5% per annum

starting from 14 days after the date of

contract or agreement. According to MOF,this measure was intended to encourage the

supply of housing units and to help moderate

residential property prices. Due to the

sluggish real estate market, developers have

been struggling to meet the deadline, and

several had requested for an extension. Thetight deadline also meant that developers are

less willing to take up bigger projects as they

may not be able to clear stock in the midst of

a weak market. In response, a spokesperson

from MOF said that the government will

continue to monitor the market and review

policies accordingly.


C o m p et it io n f o r l an d i s h eal th y d es p i te

c a u t i o u s b i d d i n g b y d e v e l o p er s

While developers may be bidding more

cautiously, the competition for land remains

healthy. According to a report by BNP

Paribas, like-for-like comparisons on plots

sold this year compared to earlier sites in the

vicinity show that bidding prices have fallen

but demand remains intense, as an average

of 9 bids per site were recorded since the

start of the year. This is up from the averageof 7.3 bids last year. According to the report,

supply cuts in the Government Land Sales

programme may have fuelled developer’s

demand. Particularly, competition for land is

still steep from non-traditional developers,

such as foreign developers, boutique localdevelopers and construction-related firms.

SINGAPORE PROPERTY WEEKLY I 229


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Yet, the report noted that net margins of

developers’ new projects had fallen to 11.8%

in 2014, down from 12.6% in 2013.


Commercial

CB D o ff ic e r en ts f al ls in Q3 b y 4.1%

quarter-on-quarter

According to DTZ, the average monthly gross

rents in the CBD have fallen by 4.1% quarter-on-quarter to $10.40 psf in Q3. In particular,

the average monthly gross rents in Marina

Bay fell 5.5% to $13 per sq ft per month while

rents in Raffles Place fell by 3.4% to $10.45

per sq ft per month in Q3 from the previous

month. In the city fringes, a 2.1% drop inrents was observed over the same time

period. DTZ believes that the economic

slowdown could have affected the office

rental market. Cheng Siow Ying from DTZ

added that as landlords compete to retain and

attract tenants, leasing incentives have

increased. Also from DTZ, Lee Nai Jia

predicts that office rents in the CBD willcontinue to fall as the global economy

remains uncertain.



http://propertymarketinsights.com/


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Non-Landed Residential Resale Property Transactions for the Week of Sep 23 – Sep 29

Postal

DistrictProject Name

Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

1 THE SAIL @ MARINA BAY 861 1,445,000 1,678 99

3 THE METROPOLITAN CONDOMINIUM 786 1,130,000 1,438 99

3 THE METROPOLITAN CONDOMINIUM 1,744 2,350,000 1,348 99

3 THE ANCHORAGE 1,464 1,869,888 1,277 FH

3 TANGLIN VIEW 1,249 1,438,000 1,152 99

4 THE INTERLACE 5,339 5,100,000 955 99

5 HERITAGE VIEW 969 1,115,000 1,151 99

5 VISTA PARK 732 685,000 936 99

8 CITY SQUARE RESIDENCES 1,206 1,700,000 1,410 FH

9 THE TRILLIUM 2,217 4,700,000 2,120 FH10 ARDMORE II 2,024 5,050,000 2,496 FH

10 PALM SPRING 947 1,458,000 1,539 FH

10 THE TESSARINA 958 1,442,000 1,505 FH

10 ROYALVILLE 1,012 1,452,220 1,435 FH

10 SPRING GROVE 1,787 2,405,000 1,346 99

11 NEWTON 18 926 1,630,000 1,761 FH

14 MELOSA 484 640,000 1,321 FH

14 CHEN FANG MANSIONS 936 830,000 886 FH

14 EUNOSVILLE 1,701 1,150,000 676 102

15 THE SEA VIEW 1,216 2,065,000 1,698 FH

15 THE SEA VIEW 560 930,000 1,662 FH

15 THE VIEW @ MEYER 1,690 2,768,000 1,638 FH

15 ONE FORT 1,206 1,300,000 1,078 FH

15 THE TREELINE 1,109 1,190,000 1,073 FH

Postal

DistrictProject Name

Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

15 MANDARIN GARDEN CONDOMINIUM 1,572 1,400,000 891 99

15 STILL MANSIONS 1,141 980,000 859 FH

16 COSTA DEL SOL 1,345 1,570,000 1,167 99

18 DOUBLE BAY RESIDENCES 1,001 1,100,000 1,099 99

18 THE TROPICA 1,238 950,000 767 99

19 THE MINTON 549 660,000 1,202 99

19 KOVAN MELODY 1,410 1,500,000 1,064 99

19 RESIDENCES BOTANIQUE 1,055 1,109,000 1,051 FH

19 KOVAN MELODY 1,690 1,670,000 988 99

20 RAFFLESIA CONDOMINIUM 1,216 1,200,000 987 9921 GARDENVISTA 926 1,200,000 1,296 99

21 SUMMERHILL 947 1,038,888 1,097 FH

21 SUMMERHILL 1,302 1,250,000 960 FH

21 THE CASCADIA 1,744 1,600,000 918 FH

22 PARC VISTA 1,518 1,302,500 858 99

23 GLENDALE PARK 1,206 1,230,000 1,020 FH

23 REGENT HEIGHTS 1,023 860,000 841 99

26 THE CALROSE 1,141 1,340,000 1,174 FH

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.

Singapore Property Weekly Issue 229

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