Singapore Property Weekly Issue 81
-
Upload
propwisesg -
Category
Documents
-
view
217 -
download
0
Transcript of Singapore Property Weekly Issue 81
-
7/30/2019 Singapore Property Weekly Issue 81
1/16
Issue 81Copyright 2011-2012 www.Propwise.sg. All Rights Reserved.
http://www.propwise.sg/http://www.propwise.sg/ -
7/30/2019 Singapore Property Weekly Issue 81
2/16
ContributeDo you have articles and insights and articles that youd like to share
with thousands of readers interested in the Singapore property
market? Send them to us at [email protected] , and if theyre good
enough, well publish them here, on our blog and even on Yahoo!
News.
AdvertiseWant to get your brand, product, service or property listing out to
thousands of Singapore property investors at a very reasonable
cost? Head over to www.propwise.sg/advertise/ to find out more.
CONTENTS
p2 No Money Down Properties Legit
Scheme or Scam?
p6 Singapore Property News This Week
p14 Resale Property Transactions
(November 21 November 27)
Welcome to the 81st edition
of the Singapore Property
Weekly.
Hope you like it!
Mr. Propwise
FROM THE
EDITOR
mailto:[email protected]://www.propwise.sg/advertise/http://www.propwise.sg/advertise/mailto:[email protected] -
7/30/2019 Singapore Property Weekly Issue 81
3/16
SINGAPORE PROPERTY WEEKLY Issue 81
Page | 2Back to Contents
By guest contributor Gerald Tay
There are many myths about doing property
deals. Most contain a grain of truth and a lot
of misinformation. Several printed
advertisements and mass emails in the past
couple of years have been claiming that onecan invest and own properties with no money
down. One advertisement even claims you
can make millions of dollars with no money
down in just 24 months!
Essentially, the advertisers would run a free
seminar to induce participants to sign up for
their property courses that come with very
hefty fees in the thousands of dollars to learn
No Money Down Properties Legit Scheme or Scam?
-
7/30/2019 Singapore Property Weekly Issue 81
4/16
SINGAPORE PROPERTY WEEKLY Issue 81
Page | 3Back to Contents
their Secrets of the Experts property
strategies that any average investor could
apply with success. These advertisers would
also sell you overseas properties on a No-
Money Down scheme and claim they comewith high returns.
Legit Scheme or Scam?
The biggest question for a property investor is
always about creative financing, i.e. how can I
put a deal together with little or no moneydown? To be honest, in almost any property
transaction, a decent amount of money would
have to be put down, including stamp duties,
legal fees, renovation costs and other upfront
fees. Of course, for any property investor, the
big dream is No money Down. Although intheory it sounds very attractive and might just
be doable, the truth is most average
Singapore buyers will never see the
opportunity to do it in their lifetime.
These property gurus use the same tactics
that lottery ticket sellers use they promote
the one or two people that succeeded and
neglect telling you about the bad side of the
deal and the near certainty of you not turninga profit. Maybe thats why they should be
termed seminargurus rather than property
gurus because they are more adept in
making money from selling books, CDs,
seminars and workshops to participants,
rather than applying these theories on theirown to make money from their actual
investments.
Just because its possible doesnt make it
probable!
The term No Money Down simply means100% financed, by otherpeoples money, i.e.
the deal is financed by someone elses
money for the down payment. It requires
tremendous leverage and a very high degree
-
7/30/2019 Singapore Property Weekly Issue 81
5/16
SINGAPORE PROPERTY WEEKLY Issue 81
Page | 4Back to Contents
of investor knowledge and expertise to pull it
off profitably.
My late multi-millionaire grandfather would be
laughing out loud from his grave if he knewsuch self-proclaimed propertygurus existed
to promote such a questionable investment
strategy to the average buyer in todays
highly volatile property market.
My family owned businesses and real estate
developments, both overseas and Singapore.
We owned several properties in the prime
districts as well as commercial buildings in
the central business district of Singapore. We
were also property developers ourselves and
have built terrace houses and apartments in
sub-urban areas. All these were financed with
the help of banks loans and cash from other
businesses, which were all painstakingly built
up by my late grandfather over four decades!
Never had he ever mentioned that one can
buy properties on a No Money Down
scheme, certainly NOT for the average
Singapore retail buyer.
Would you like to discoverSecrets of how to
own properties with little or no money down?
orHow to own three properties with just one
property? The gurus will have you cough
out thousands of dollars just to attendworkshops or seminars that teach
questionable investment techniques, claim
you can own properties with no money down,
pepper you with lots of crappy motivational
talk, then sell you properties at the end of the
workshop saying you must take action nowand can soon be millionaires upon
graduation.
-
7/30/2019 Singapore Property Weekly Issue 81
6/16
SINGAPORE PROPERTY WEEKLY Issue 81
Page | 5Back to Contents
Would you like to know WHO is really making
the millions? Is it you or those seminar
providers who charge hefty course fees? (e.g.
$3,000 X 30 participants = $90,000 X 12
times a year, or just once a month = $1.08
million in revenue!)
In the next article, I will share some No
Money Down techniques often marketed by
self-proclaimed gurus and what risks they
pose for the average Singaporean buyer. Tillthen, always invest with your head and not
your heart!
By guest contributor Gerald Tay, CEO and
Chief Trainer atCREi Academy Group.
http://www.crei-academy.com/http://www.moneymatters.sg/http://www.crei-academy.com/http://www.crei-academy.com/http://www.crei-academy.com/http://www.crei-academy.com/http://www.crei-academy.com/ -
7/30/2019 Singapore Property Weekly Issue 81
7/16
SINGAPORE PROPERTY WEEKLY Issue 81
Singapore Property This Week
Page | 6Back to Contents
ResidentialChanges made to restrictions on
redevelopment of en bloc sites
In response to feedback from the industry,
there have been changes made to the
regulations of the redevelopment of en bloc
sites. Currently, foreign developers buying
residential en bloc sale sites are given a five-
year project completion period (PCP) which
starts from the date of the issue of a
Qualifying Certificate (QC), which foreign
developers must obtain from the authorities tobuy private residential land in Singapore.
Now, for QCs issued on or after July 1, 2012,
the PCP will start from the date of the
collective sale order. Similarly, for the ABSD,
the start date of the five-year period to qualify
for the ABSD remission for en bloc sales will
start from the date of the collective sale order.
Separately, developers who had rented out
the units in the existing development of en
bloc sale sites instead of redeveloping them
in response to the governments call in 2008will be granted a one-time extension of the
PCP upon application and without charge.
(Source: Business Times)
CityLife@Tampines units in high demand
The 514-unit CityLife@ Tampines with a
luxury hotel- style home concept over three
times subscribed at the close of its e-
applications period, having received a record
SINGAPORE PROPERTY WEEKLY I 81
-
7/30/2019 Singapore Property Weekly Issue 81
8/16
SINGAPORE PROPERTY WEEKLY Issue 81
Page | 7Back to Contents
1,800 applications. The most popular units
were the dual-key and larger-sized units. The
development features an infinity pool and
"skysuite" and penthouse units. Two-bedroom
units range from 753 to 807 sq ft while thepenthouses range from 1,356 to 4,370 sq ft.
(Source: Business Times)
Punggol EC site attracts $162.1m top bid
The 99-year leasehold 153,999 sq ft site
located at the junction of Punggol Field Walk
and Punggol East attracted a total of seven
bids with the top bid of $162.1 million or
$350.87 psf ppr from Sing Holdings Ltd. Sing
Holdings plans to develop six blocks of 17-
storey buildings with full condominium
facilities on the site with a 461,997 sq ft GFA
can yield 435 units. The top bid exceeded the
expectations just as the high bids were
surprising, since the site is located away from
Punggol MRT station and the town centre.
(Source: Business Times)
Prices of resale non-landed private homes
hit record average of $1,222 psf in Oct andNov
This was driven by the increase in resale
private home prices in all regions, with prices
in the OCR increasing by 4.5% from Q3 to
$959 psf, prices in the RCR increasing by
3.3% to $1,224 psf, and prices in the CCR
increasing by 2.8% to $1,778 psf. Resale
transaction volumes also saw a 6% increase
to 2,483 transactions in this period compared
to the first two months of Q3. With the 1% fall
of average unit monthly rents to $3.84 psf in
the first two months of Q4 from $3.88 psf in
Q3 (result of the 2.5% decline in the RCR to
$3.91 psf, since rents in other regions
remained relatively stable), the overall gross
SINGAPORE PROPERTY WEEKLY I 81
-
7/30/2019 Singapore Property Weekly Issue 81
9/16
SINGAPORE PROPERTY WEEKLY Issue 81
Page | 8Back to Contents
rental yields fell to a six-year low of 3.77% in
this period.
Meanwhile, the 1,328 contracts signed for
rental of shoebox units reflects the high
demand for such units. The year-to-date
transaction volume for resale shoebox units
currently stands at 198. The average unit
monthly rental of shoebox units remained
high in Q4 at $6.65 psf, a 0.6% climb from
Q3s $6.61 psf.
The overall COV in the HDB resale market hit
$34,000 in October and November, with the
$33,000 in October increasing to $35,000 in
November, which results in a 1.1% higher
overall HDB median resale price of $455,000
compared to Q3 prices. The overall HDBmedian monthly rents remained at $2,400.
(Source: Business Times)
Commercial
Industrial rents expected to climb
With more investors turning to the industrial
property market after the introduction of theABSD, prices of industrial properties have
increased by 27% this year. Residential
property developers are also moving into the
industrial property market. The increasing
shop rents have also led store owners to shift
their retail operations to light industrial parks.While the increase in industrial property
prices have yet to affect the rents in such
properties, with a 6% increase this year, this
may change when leases are renegotiated.
Businesses may also choose to buy industrial
properties instead of merely renting, drivingup prices as a result of higher demand.
(Source: Business Times)
SINGAPORE PROPERTY WEEKLY Issue 81
-
7/30/2019 Singapore Property Weekly Issue 81
10/16
SINGAPORE PROPERTY WEEKLY Issue 81
Page | 9Back to Contents
Muis sells four 199-year properties
The Islamic Religious Council of Singapore
(Muis) are selling four properties on 199-year
leases by public tender. These include two
intermediate terrace houses located alongDuku Road with an approximate land area of
2,000 sq ft and inter-terrace conserved
shophouses located at Rowell Road and
Upper Weld Road. The two shophouses have
an approximate land area and an
approximate built up area of 1,100 sq ft and2,100 sq ft respectively. They are zoned for
commercial use within the Little India
conservation area. The 199-year lease
promises more investment returns for the
owner and has a potentially 15% higher value
than that of a 99-year leasehold property.
(Source: Business Times)
URA launches F&B site in Punggol
URA has launched a commercial site zoned
specifically for food and beverage (F&B) use
at Punggol Point for public tender. The
11,606.6 sq m site will be sold with a lease
term of 15 years. There is also a height
restriction of two storeys for the site. It willhave a maximum permissible GFA of 3,000
sq m including outdoor refreshment area. It is
likely to attract both F&B operators and
developers with a top bid of $35-40 million.
(Source: Business Times)
Novena white site attracts record high bid
of $492.5m
The 0.66-hectare white site located at the
junction of Thomson Road and Irrawaddy
Road which has a 301,852 sq ft GFA
attracted a top bid of $492.5 million or
$1,631.59 psf ppr, beating out eight other
bidders. It was a joint-bid from Hoi Hup
Realty Pte Ltd, Sunway Developments Pte
Ltd and Hoi Hup JV Development Pte Ltd.
SINGAPORE PROPERTY WEEKLY Issue 81
-
7/30/2019 Singapore Property Weekly Issue 81
11/16
SINGAPORE PROPERTY WEEKLY Issue 81
Page | 10Back to Contents
The high bid is attributed to the high selling
prices of some strata retail and office space.
The site can be put to commercial, residential
or hotel use though a minimum 30 per cent of
the GFA must be set aside for hotel use. Theinterest for the site is expected, since it is
near Novena MRT station and several
medical centres such as Tan Tock Seng
Hospital, Novena Medical Centre and Mount
Elizabeth Novena Hospital and existing
commercial developments, such as Velocity@ Novena Square. The developer plans to
build a 3.5 to 4-star hotel with the remaining
70% of the GFA for commercial facilities and
medical suites. While the commercial space
is expected to be largely medical suites, the
ground floor and a linkway between NovenaMRT and the basement will likely be taken up
by shops.
(Source: Business Times)
Defu Industrial Estate to be transformed
modern industrial park
This will be done over the next 15-20 years
with existing factories being replaced by
modern complexes. There will be six-storey
buildings in the new Defu Industrial Park,
which will include the Defu City Centre and
the Defu Industrial City. The Defu Industrial
City and Bedok Food City will be built to
facilitate the relocation of the existing
factories in Defu Industrial Estate, with
factories in the food industry being relocated
to Bedok Food City and factories in general
industries relocated to Defu Industrial City, a
13-hectare site next to the Kallang-Paya
Lebar Expressway. There are currently 1,046
factories in the estate, of which 219 factories
(87 land-based factories on 30-year leases
and 42 land-based factories and 90 terrace
workshops on fixed-term tenancies)
SINGAPORE PROPERTY WEEKLY Issue 81
-
7/30/2019 Singapore Property Weekly Issue 81
12/16
SINGAPORE PROPERTY WEEKLY Issue 81
Page | 11Back to Contents
will be involved in the first phase of the
redevelopment which will comprises three
phases. Once the Defu Industrial City is
completed in 2017, the new Defu City Centre
will be developed next to it. The Defu CityCentre will house food-and-beverage outlets,
convenience stores, medical clinics and
childcare centres.
The new industrial park will have a five-time
increase in the total amount of factory floor
space to 2.1 million sq m of industrial space.It will consist of three key zones, with the
northern and central zones for strategic
industries such as logistics, precision
engineering, infocommunications and media,
electronics, clean energy and biomedical and
the southern zone for modern industrialcomplexes to house existing industrialists.
While some welcome the redevelopments,
others worry about the oversupply of
industrial factory units in the area, or the
potential increase in rents.
(Source: Business Times)
RB Capital buys 16 The Quayside retail
units at $69m
The 16 ground-floor riverfronting retail units
which comprises The Quayside's retail
podium were bought at $69 million or $2,110
psf based on the 33,000 sq ft total leaseable
area. The units are part of a mixeddevelopment The Quayside located in the
Robertson Quay area which also includes 79
apartments. The fully leased units generates
an average monthly rent of about $6 psf or a
net yield of 3%, half the current signing rents
of similar units. Retail units have 80 carparklots in the basement while residents are
entitled to separate carparking facilities on the
second and third levels.
(Source: Business Times)
SINGAPORE PROPERTY WEEKLY Issue 81
-
7/30/2019 Singapore Property Weekly Issue 81
13/16
SINGAPORE PROPERTY WEEKLY Issue 81
Page | 12Back to Contents
The Index at Robinson Rd now SBF Center
With the Singapore Business Federation
(SBF) becoming a major occupier at the 99-
year mixed development, The Index at
Robinson Road has been renamed the SBF
Center. SBF currently occupies 20,000 sq ft
of space at Keppel Towers and will likely take
up the same or more at SBF Center, which
has a 353, 000 sq ft GFA. The SBF Center,
which is expected to be launched in January,
will comprise offices, medical suites and food-
and-beverage outlets, and has space set
aside for civic and community institutional
use. There will be 197 offices for sale, with
192 smaller strata units ranging from 592 sq
ft to 1,442 sq ft, and five 10,549 sq ft floor
plate offices. In addition, there are also 48
medical suites ranging from 614 to 1,345 sq ft
up for sale. Prices start from $2,400 psf for
the offices and $3,500 psf for the medical
suites. Despite the interest shown in its F&B
space, the developer is considering not
selling.
(Source: Business Times)
Narrowed rental gap between Grade A and
B office islandwide to widen next year
With the predicted 13.5% fall in 2012s
average monthly rental of Grade A office
space, to $9.51 psf from$11 psf in Q4 last
year, and the expected slower rental decline
of 2.3% of Grade B office space from $7.34
psf in Q4 2011 to $7.17 psf in Q4 this year,
the rental gap had narrowed to a $2.34 psf
compared to $3.66 psf last year. The
relatively better performance in Grade B
office space is due to the expansion of
existing tenants, while the poorer
performance of Grade A office is attributed to
the increased vacancy rates caused by
SINGAPORE PROPERTY WEEKLY Issue 81
-
7/30/2019 Singapore Property Weekly Issue 81
14/16
SINGAPORE PROPERTY WEEKLY Issue 81
Page | 13Back to Contents
completion of major new developments.
However, this is expected to change as
Grade A rents is expected to remain flat at an
average of $9.50 psf in Q4 2013, while Grade
B rents fall by 5-10% to $6.45 psf resulting ina $3.05 psf gap.
(Source: Business Times)
YCH Group building Supply Chain City, a
$200m logistics hub in Jurong West
The new facility will include 1.5 million sq ft of
warehousing space and 0.5 million sq ft of
office space, allowing its customers to
integrate their front and back-end operations
to maximise efficiency. Despite being smaller
than the 7.8ha Tuas premises, the 6.5 ha
upcoming YCH premise will have 2.5 times
the capacity. It will also house YCHs
headquarters, research activities, a training
academy to promote the sharing of best
practices in the logistics industry, as well as
amenities such as landscaping, alfresco
dining and possibly medical and childcare
facilities.
(Source: Business Times)
SINGAPORE PROPERTY WEEKLY Issue 81
http://www.propwise.sg/secretsofsingaporepropertygurus/ -
7/30/2019 Singapore Property Weekly Issue 81
15/16
SINGAPORE PROPERTY WEEKLY Issue 81
Page | 14Back to Contents
Non-Landed Residential Resale Property Transactions for the Week of Nov 21 Nov 27
Postal
DistrictProject Name
Area
(sqft)
Transacted
Price ($)
Price
($ psf)Tenure
2 ICON 570 1,120,000 1,963 99
3 REGENCY SUITES 1,421 2,300,000 1,619 FH
3 THE ANCHORAGE 1,550 1,900,000 1,226 FH
3 LANDMARK TOWERS 1,033 1,100,000 1,065 99
5 PARC IMPERIAL 366 680,000 1,858 FH
5 BOTANNIA 1,561 1,760,000 1,128 956
5 BUONA LODGE 1,647 1,620,000 984 FH
5 WEST BAY CONDOMINIUM 850 832,000 978 99
5 PALISADES 3,294 3,150,000 956 FH
8 CITYLIGHTS 893 1,400,000 1,567 99
9 HELIOS RESIDENCES 1,281 4,481,500 3,499 FH
9 ONE OXLEY RISE 721 1,460,000 2,024 FH
9 LEONIE HILL RESIDENCES 1,389 2,680,000 1,930 FH
9 THE REGALIA 1,249 2,000,000 1,602 FH
9 THE REGALIA 1,270 1,938,888 1,527 FH
10 REGENCY PARK 2,260 4,300,000 1,902 FH
10 MILL POINT 527 1,000,000 1,896 999
10 THE LEVELZ 1,001 1,530,000 1,528 FH
10 WATERFALL GARDENS 1,830 2,750,000 1,503 FH
10 THE ESTORIL 2,088 2,500,000 1,197 FH
10 MUTIARA CREST 1,550 1,850,000 1,194 FH
11 ZEDGE 484 900,000 1,858 FH
11 SKY@ELEVEN 2,271 4,200,000 1,849 FH
11 ROCHELLE AT NEWTON 1,356 2,169,000 1,599 99
Postal
DistrictProject Name
Area
(sqft)
Transacted
Price ($)
Price
($ psf)Tenure
11 THE TREVOSE 1,302 1,800,000 1,382 99
11 HILLCREST ARCADIA 1,970 2,167,000 1,100 99
14 DAKOTA RESIDENCES 1,023 1,515,000 1,482 99
14 SIMS POINT 1,227 975,000 795 FH
14 ATRIUM RESIDENCES 1,991 1,500,000 753 FH
15 THE SEAFRONT ON MEYER 1,604 2,618,000 1,632 FH
15 THE BELVEDERE 1,259 2,000,000 1,588 FH
15 WATER PLACE 904 1,330,000 1,471 99
15 THE ESTA 1,561 2,201,010 1,410 FH
15 THE ATRIA AT MEYER 1,615 2,230,000 1,381 FH
15 PEBBLE BAY 1,894 2,600,000 1,372 99
15 MABELLE 527 700,000 1,327 FH
15 MANDARIN GARDEN CONDOMINIUM 1,001 1,180,000 1,179 99
15 MARINE MEADOWS 1,690 1,890,000 1,118 FH
15 DAWN VILLE 1,195 1,300,000 1,088 FH
15 THE PALLADIUM 2,034 2,200,000 1,081 FH
15 COASTARINA 1,389 1,420,000 1,023 FH
15 VILLA MARINA 1,281 1,260,000 984 99
15 SUNNY PARC 2,088 2,008,888 962 FH
15 COSTA RHU 1,485 1,411,700 950 99
15 EASTWIND MANSIONS 1,345 1,200,000 892 FH
15 TEMBELINA 1,410 1,180,000 837 FH
15 THE GLACIER 2,336 1 ,722,000 737 FH
15 SHEBA LODGE 1,270 920,000 724 FH
SINGAPORE PROPERTY WEEKLY Issue 81
-
7/30/2019 Singapore Property Weekly Issue 81
16/16
S G O O ssue 8
Page | 15Back to Contents
NOTE: This data only covers non-landed residential resale propertytransactions with caveats lodged with the Singapore LandAuthority. Typically, caveats are lodged at least 2-3 weeks after apurchaser signs an OTP, hence the lagged nature of the data.
Postal
DistrictProject Name
Area
(sqft)
Transacted
Price ($)
Price
($ psf)Tenure
16 COUNTRY PARK CONDOMINIUM 1,087 1,250,000 1,150 FH
16 BAYSHORE PARK 936 1,000,000 1,068 99
16 THE BAYSHORE 1,432 1,528,000 1,067 99
16 BAYSHORE PARK 936 930,000 993 99
16 THE CLEARWATER 1,367 1,350,000 988 99
16 EAST MEADOWS 1,195 1,150,000 963 99
16 CASA MERAH 2,196 2,100,000 956 99
16 THE CLEARWATER 1,206 1,150,000 954 99
16 CASAFINA 1,345 1,250,000 929 99
16 EASTWOOD GREEN 1,173 1,070,000 912 99
16 KEW GREEN 2,992 2,138,000 714 99
17 CELADON VIEW 1,367 1,050,000 768 999
17 LOYANG VALLEY 1,485 1,065,000 717 99
19 OASIS GARDEN 1,475 1,680,000 1,139 FH
19 LEITH GROVE 818 925,000 1,131 FH
19 RIVERVALE CREST 1,184 850,000 718 99
20 SHUNFU VILLE 1,658 1,330,000 802 99
20 SHUNFU VILLE 1,658 1,250,000 754 99
21 THE CASCADIA 990 1,750,000 1,767 FH
21 THE CASCADIA 1,238 2,180,000 1,761 FH
21 MEADOWLODGE 1,206 1,413,000 1,172 99
21 THE RAINTREE 1,270 1,388,000 1,093 9921 ASTOR GREEN 1,066 1,080,000 1,013 99
23 HILLVIEW REGENCY 1,195 1,200,000 1,004 99
23 MERAWOODS 1,001 985,000 984 999
23 THE LINEAR 1,227 1,170,000 953 999
23 MERAWOODS 1,507 1,330,000 883 999
Postal
DistrictProject Name
Area
(sqft)
Transacted
Price ($)
Price
($ psf)Tenure
23 PARKVIEW APARTMENTS 980 860,000 878 99
23 THE LINEAR 1,281 1,088,000 849 999
23 MERAWOODS 4,036 3,330,000 825 999
23 REGENT GROVE 1,163 938,000 807 99
23 REGENT GROVE 1,163 863,000 742 99
26 BULLION PARK 1,873 1,920,000 1,025 FH
27 ORCHID PARK CONDOMINIUM 958 785,000 819 99
27 SELETARIS 1,593 1,270,000 797 FH
27 ORCHID PARK CONDOMINIUM 1,152 825,000 716 99
28 SERENITY PARK 1,324 1 ,282,000 968 FH