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Northwave EC: Right location, right time

Posted by Singapore Property Launch on 23rd March 2017 in Blog
Northwave EC

Artist’s impression of Northwave EC.

Did you know Woodlands is set to be the next success story?

Singapore’s northern gateway – One of the Urban Redevelopment Authority’s (URA) proposed new regional centres, Woodlands is set to be transformed into a booming metropolis, offering a modern, dynamic and diverse environment in which to live, work and play. Around 700,000 sq m of new commercial space is planned, as well as significant infrastructure improvements throughout the region. No wonder it is widely considered to be Singapore’s next big thing.

Incredible connectivity – Woodlands North and Woodlands South on the brand new Thomson-East Coast Line both come online in 2019, bringing the number of MRT stations in the area to five, with Admiralty, Woodlands and Marsiling already serving the region via the North South Line. The North-South Corridor – Singapore’s first integrated transport route – will be an expressway directly linking to the Central Business District (CBD), and will feature dedicated and continuous bus and cycle lanes. A new Integrated Transport Hub will provide a seamless connection between the MRT station and bus interchange at Woodlands Central.

Unrivalled dining, retail and leisure – When Northpoint City opens its doors in 2018, it will be the largest mall in the north of Singapore, and will add to the considerable choices already offered by Sun Plaza, Causeway Point and Sembawang Shopping Centre. Woodlands Central will feature a new retail and food hub, while Kampung Admiralty will be home to, among other exciting unique amenities, hawker centres, F&B outlets and supermarkets. Leisure wise, the Singapore Zoo, Night Safari, River Safari, soon to be relocated Bird Park, and recently announced Rainforest Park are 10 minutes’ drive away, while ORTO, the island’s first 24-hour leisure facility, is also nearby.

First world amenities – Woodlands and the immediate area is home to established schools and educational facilities covering the whole spectrum from childcare and primary schools up to secondary and tertiary, local and international. As well as existing specific centres for the elderly, there will shortly be a fully integrated healthcare hub with a community hospital, an acute hospital and nursing home.

 

Did you know luxury could be so affordable?

21st century luxury living – Northwave boasts all the modern facilities you would expect from a high-end condo, but with some unexpected and unique twists, such as its fully air-conditioned badminton court cum multi-purpose hall that can be used for organising big functions.

Promoting community and family values – Many of its recreational and leisure facilities are specifically designed to encourage and promote health and wellness, as well as engender family bonding. The ground-breaking Patio Homes concept recreates the feel and atmosphere of a landed property and garden.

Ideally located near transport links – The development is in easy reach of Admiralty MRT station and the soon to be completed Woodlands South station. Cyclists are well catered for with cycling paths leading to park connectors, linking numerous nearby parks including Woodlands Waterfront.

Executive condos: Great homes, great investments – In an uncertain market, ECs have stood out as being some of the most sought-after properties in recent years. Hand in hand with the restrictions come several grants and subsidies, turning an already attractive proposal into one of the very best options available for HDB upgraders and young upwardly mobile couples.

 

Did you know there has never been a better time to invest in Woodlands?

Woodlands map

Master Plan for the Woodlands North Coast Innovation Corridor.

10,000 new jobs on your doorstop – The development and investment that its regional centre status draws is a massive boost to the area’s economic and employment prospects. More than 10,000 new jobs will be created in the new business clusters in Woodlands North, Gambas Avenue and Woodlands Avenues 9 and 12, as well as along the upcoming North Coast Innovation Corridor that will run from Woodlands to Punggol.

Gateway to Malaysia – The recent announcement of the planned RTS (Rapid Transit System) between Woodlands and Johor Bahru, to complement the existing causeway and Shuttle Tebrau, is certain to cement Woodlands as the gateway to JB and beyond.

The perfect time – Woodlands as a place is booming. The population has increased by more than 30 percent in 15 years, and that trend is set to continue. In a similar period, resale prices for non-landed private residential properties have appreciated by 92 percent. Demand is particularly high in regional centres and for developments near MRT stations. This is a perfect opportunity to buy while you still can, and before the infrastructure is completed and prices inevitably rise.

credits:propertyguru

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New private home sales up 155.8% in Feb

Posted by Singapore Property Launch on 22nd March 2017 in Blog
The Clement Canopy preview

The Clement Canopy was the only private condo launch in February. (Photo: UOL Group)

Even with only one new project launch, the number of private residential units (excluding ECs) sold by developers rose 155.8 percent to 977 units in February 2017 from 382 in the previous month, according to data from the Urban Redevelopment Authority (URA).

On a yearly basis, private homes sales soared 222.4 percent from the 303 units sold in February 2016.

The Clement Canopy, which was the only new launch in February, emerged as the best-selling project, with 207 units sold at a median price of $1,343 psf. It was followed by Parc Riviera and The Santorini, with 200 units and 51 units sold at median prices of $1,281 psf and $1,041 psf, respectively.

Rounding up the top five best-selling projects are The Glades (30 units) and The Venue Residences (28 units).

Sales of ECs also increased 78.8 percent to 329 units in February, despite the lack of new projects.

Sol Acres topped new EC sales with 82 units sold, followed by The Terrace and The Visionaire, with 40 units and 39 units sold, respectively.

Analysts noted that the healthy figures indicated significantly better market sentiments from the previous year and an early start to the buying momentum this year.

“There is a greater sense of confidence in both developers and buyers,” said Ong Teck Hui, JLL’s National Director for Research and Consultancy, adding that 770 of the 977 private homes sold in February were from previously launched projects.

“This tells us that with more positive sentiments, buyers are not just attracted by newly launched projects but also drawn to those launched previously, reflecting a more broad-based improvement in demand,” he said.

“The recent easing of the Seller’s Stamp Duty and the Total Debt Servicing Ratio would be a favourable enhancement on a market that is already on a buying uptrend.”

Meanwhile, Desmond Sim, Head of CBRE Research for Singapore and South East Asia, believes the sales levels “reinforce the current trend of buyers favouring projects with units priced at a palatable quantum”.

Sim revealed that he does not expect the trend to change even with the recent tweaks to the property curbs.

credits: propertyguru

 

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URA launches residential site in Tampines

Posted by Singapore Property Launch on 18th March 2017 in Blog
URA launches residential site in Tampines

Location map of the site at Tampines Avenue 10. Source: URA

A 99-year leasehold residential site at Tampines Avenue 10 (Parcel C) has been put up for sale by public tender, said the Urban Redevelopment Authority (URA) on Tuesday (14 March).

The 2.17ha site is located between two upcoming condominium projects – The Alps Residences and The Santorini. Launched for sale under the confirmed list of the first half 2017 Government Land Sales (GLS) Programme, it can yield up to 715 housing units.

The URA noted that the site is linked to other parts of the island via major roads and expressways, such as the Pan Island Expressway and Tampines Expressway.

The future residential development is ideal for families with school-going children, as it is near various schools including United World College of South East Asia (East Campus), Temasek Polytechnic and St. Hilda’s Primary and Secondary Schools.

Industry analysts, however, expect cautious bidding in the tender due to the large housing supply within the vicinity, reported TODAYonline.

“While there are many cash-rich developers wanting to deploy their cash, the location attributes of the site can be challenging. The United World College is much-desired for expats with school-going children but there is already a large supply of condominiums in the vicinity that could satisfy the needs of these parents, and demand may be insufficient,” said Ku Swee Yong, CEO of International Property Advisor.

He expects the tender to attract five to seven bids, with the top bid ranging from $450 to $550 psf per plot ratio. This works out to approximately $295 million to $360 million.

The tender for the land parcel will close on 25 April, said the URA.

credits: propertyguru

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Govt tweaks property cooling measures for SSD and TDSR

Posted by Singapore Property Launch on 13th March 2017 in Blog
Public Housing in Singapore

The holding period for imposition of Seller’s Stamp Duty has been cut, while the TDSR rules have been fine-tuned.

With effect from 11 March, the government will implement changes to the Seller’s Stamp Duty (SSD) and Total Debt Servicing Ratio (TDSR) framework, but will retain the current Additional Buyer’s Stamp Duty rates and loan-to-value (LTV) limits, according to a joint statement from the Ministry of Finance and Ministry of National Development on Friday (10 March).

Currently, the SSD is paid by homeowners who sell their residential property within four years of purchase, at rates of between four percent and 16 percent of the property’s value. Since this measure was introduced in January 2011, the number of property sales within the four-year window has fallen significantly.

As such, the government will now reduce the holding period for imposing SSD from the current four years to three years. The SSD rate will also be lowered by four percentage points for each tier. The new rates will range from four percent for properties sold in the third year to 12 percent for those sold within the first year.

At the same time, the TDSR framework will no longer apply to mortgage equity withdrawal loans with LTV ratios of 50 percent and below. This comes after some borrowers shared that the TDSR framework limited their flexibility to monetise their properties in their retirement years.

Meanwhile, National Development Minister and Second Minister for Finance, Lawrence Wong, will introduce legislative changes in Parliament today on stamp duties for property holding companies that undertake transfers of equity interests in entities holding residential properties. This would be similar to what would happen if they were to buy or sell the properties directly.

credits: propertyguru

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Park Place Residences to open showflat

Posted by Singapore Property Launch on 11th March 2017 in Blog
Park Place Residences

Artist’s impression of Park Place Residences at Paya Lebar Quarter. Source: Lendlease

Australian property developer Lendlease plans to launch the Park Place Residences condominium at Paya Lebar Quarter (PLQ) on 25 March.

It also announced unit prices at the 99-year leasehold project: the 117 one-bedroom apartments will be priced from $780,000, the 234 two-bedders from $1 million, and the 78 three-bedders from $1.6 million.

“The prices of Lendlease’s residential developments globally have historically been the lowest during the first phase of sales launches. This has resulted in early investors benefitting from the rising value of our developments,” said PLQ’s Managing Director, Richard Paine.

While all units at the 429-unit project are being made available, Lendlease plans to sell around 40 percent of its stock on 25 March, the project’s first phase of sales.

Park Place Residences is located close to two MRT lines and Changi Airport.

It is also exempt from the Additional Buyer’s Stamp Duty rules that require developers to sell all units in a development within a five-year period, as it is part of a mixed-use development located within a commercial zone.

Meanwhile, visitors to its showflat can use virtual reality (VR) technology to take a 3D tour around PLQ. The showflat for Park Place Residences will open to the public this Saturday (11 March).

credits: propertyguru

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200 units sold at The Clement Canopy

Posted by Singapore Property Launch on 10th March 2017 in Blog
The Clement Canopy preview

Prospective buyers at The Clement Canopy showflat in Clementi. (Photo: UOL Group)

The Clement Canopy condominium recorded robust sales during its recent launch, with 200 units sold out of the 350 units released, reported Singapore Business Review, citing OCBC Investment Research.

Units at the 99-year leasehold 505-unit project have an average selling price of $1,300 psf to $1,400 psf.

Situated close to the Clementi MRT station and the National University of Singapore, The Clement Canopy is a joint venture project between UOL Group and Singapore Land. The 140,300 sq ft site was awarded to the consortium after it submitted the highest bid of $30.2 million in a Government Land Sales (GLS) exercise in December 2015.

“The acquisition price translates to $615.04 psf and we estimate breakeven prices at $1,000 to $1,100 psf,” said OCBC.

“Given the muted domestic residential market, we view this as a healthy launch performance and are encouraged at UOL’s continued ability to create value through projects with good location and product attributes.”

credits: propertyguru

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