Blog

Singapore New Launch And Condo

Come and find out about new launch and condo news in Singapore! Subscribe to our blog now for more latest property information.

Author

Pinnacle@Duxton flat sold for $900k

Posted by Singapore Property Launch on 5th January 2015 in Blog

singapore property launch Pinnacles @ Duxton

A four-room corner unit at Pinnacle@Duxton was sold for $900,000 a week ago after the development’s five-year minimum occupation period (MOP) ended on 16 December, media reports said.

Situated around the 34th to 36th floors, it is the first flat at the iconic HDB project to be sold on the resale market.

According to the broker, Savills agent Ron Chong, the hefty price tag for the 95 sqm (approx. 1,022 sq ft) unit was worth it due to its central location, well-designed interior and vantage point.

“It has superb views. You can see Sentosa from the balcony, and Orchard from the corner bedroom,” he noted. “A lot of potential buyers said it looks like a show-flat.”

In comparison, older HDB flats of the same size within the vicinity, like the lower-floor units at Cantonment Close, are selling for about $750,000, added Chong.

Originally, the unit was bought by a Singaporean couple for $340,000 during the project’s launch in 2004.

“…it’s a pity to let this flat go, but my wife and I are very happy with the price. We were expecting only about S$850,000 to S$880,000,” said the seller Mr Ng, a 38-year-old healthcare professional.

As it is the first resale transaction at Pinnacle@Duxton, the stunning price tag is expected to be used as a benchmark for the project’s other four-roomers, while the five-room flats could fetch more than $1 million, say experts.

However, its high price is unlikely to affect the wider resale market.

“We have to take this project as a unique development. In terms of location, the design, even the view, it’s something you don’t get elsewhere,” shared OrangeTee’s Managing Director Steven Tan.

credits: propertyguru

1 Star2 Stars3 Stars4 Stars5 Stars (1 votes, average: 5.00 out of 5)
Loading...
Author

26,000 new flats to be completed in 2015

Posted by Singapore Property Launch on 31st December 2014 in Blog

26,000 new flats to be completed in 2015

2015 will see 26,000 new HDB flats being completed and handed over to homebuyers, National Development Minister Khaw Boon Wan said in a blog post yesterday.

These Build-To-Order (BTO) flats will include projects such as the Waterway Terraces, SkyTerrace@Dawson (pictured) and SkyVille@Dawson.

He noted 2014 marks the turn of the housing market in Singapore. “Prices have been moderating and the market shifting from a seller’s to a buyer’s market. The shift is not yet complete and 2015 should see greater stability,” he wrote.

28,000 new flats were completed in 2014, and yesterday Mr Khaw was at Punggol for the handover of a completed block at the Waterway Woodcress BTO project. He noted the project was one of the first BTO projects launched in his first year at the Ministry of National Development (MND) when the government ramped up HDB building programme to meet the supply shortfall.

Speaking to reporters at the handover, he hopes the dip in resale prices for HDB flats seen this year will continue into 2015. According to media reports, he said, “If what we observe this year continues into next year, I would consider that a very good development.”

He added the quality of public housing has improved in recent years, and possibly be on par with private housing. Citing Punggol Waterway.as an example, he said, “Especially if you jog along the waterway, you see HDB flats, you see executive condominiums (ECs), and further away you see some condominiums as well. And unless you have a trained eye, it is not easy to distinguish which is HDB, which is EC and which is a private condominium.”

credits:propertyguru

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...
Author

Katong condo expected to launch next month

Posted by Singapore Property Launch on 28th December 2014 in Blog

Marine Blue perspective 1

Marine Blue is expected to launch in January 2015 after it was opened for preview from 29 November to 14 December 2014, according to a recent report by Square Foot Research.

The launch price of Marine Blue is expected to be between $1,800 psf and $2,200 psf, or an average of $2,000 psf. This is 40 percent higher than the median price of units sold in the past six months from projects located within 250 meters, according to Square Foot Research.

Located at 91 Marine Parade Road, the katong condo comprises 120 apartment units and four two-storey terraces. 85% of the 120 units are one to two-bedroom suites ranging from 689 sq ft to 1,593 sq ft (inclusive of void area for loft units).

 

Katong condo expected to launch next month

Previously occupied by Marine Point, the land was acquired by CapitaLand in 2011.

Its developer has reportedly held back its soft launch for almost a year. “The delay of the launch was not unexpected due to the poor market sentiment that followed after the implementation of the Total Debt Servicing Ratio (TDSR) in June last year.

“However, the Housing Developers (Control and Licensing) Act requires developers comprising foreign entities, CapitaLand included, to complete their residential developments within five years from the date of Qualifying Certificate or Collective Sale Order, and to dispose all units within two years from the issue of TOP. It is for this reason that Marine Blue does not have the luxury to stall its launch till better times,” the report said.

The freehold condominium is within walking distance to Parkway Parade, 112 Katong, Roxy Square and the upcoming Marine Parade MRT station on the Thomson-East Coast Line (TEL). Existing projects within its vicinity include Parc Seabreeze, The Sea View, Silversea, Cote D’Azur, Coralis and The Shore Residences.

 

credits: propertyguru

1 Star2 Stars3 Stars4 Stars5 Stars (1 votes, average: 5.00 out of 5)
Loading...
Author

Executive maisonette in Bishan sold for $1.09 million

Posted by Singapore Property Launch on 26th December 2014 in Blog
Executive maisonette in Bishan sold for 1.09 million

image: straitstimes

 

Despite the government’s cooling measures, a Bishan executive maisonette has been sold for a whooping sum of $1,088,888, reported the media.

The 27-year-old two-storey unit is located at Block 194 in Bishan Street 13 (pictured), near a 24-hour food centre and a supermarket. The deal was sealed in October.

Notably, the area has witnessed a trend in similar high-priced sales, which include the $1.05 million sale of a 1,615 sq ft unit near Bishan MRT in December 2013 and the $1.01 million sale of a 1,750 sq ft executive maisonette at Block 194 in February 2014.

According to Mr Huang, a Sales Director of a property agency, such high prices should not be considered as the norm for public housing.

He noted while these million-dollar public homes have their own selling points, like ideal locations, they could also have undergone various rounds of renovation to raise their value

credits: propertyguru

1 Star2 Stars3 Stars4 Stars5 Stars (1 votes, average: 5.00 out of 5)
Loading...
Author

26 GCBs sold in 2014

Posted by Singapore Property Launch on 26th December 2014 in Blog
26 GCBs sold in 2014 singapore property launch

Image: h88

 

The Good Class Bungalow (GCB) market has been buzzing this year as demand is still healthy, according to a CBRE analysis and reported in the media.

26 GCBs were sold this year with a total value of $587.75 million, while 2013 saw 29 deals worth $682 million, while 54 GCBs were sold for $1.17 billion in 2012. The record stands at 133 deals worth $2.38 billion in 2010.

Experts say transactions have dipped recently due to the Total Debt Servicing Ratio (TDSR) and Additional Buyers’ Stamp Duty (ABSD). However, prices seem to have held up this year.

Based on transactions so far this year, the average price of GCBs in 2014 is $1,454 psf; nine per cent higher than $1,388 psf in 2013, said Douglas Wong, CBRE’s head of luxury homes.

However, the average price is only a rough estimate of GCB prices as it does not fully account for varying factors such as location, size, and design, he added.

Nevertheless, GCBs have appreciated at a quicker rate than non-landed and landed properties over the past decade. The average price of GCBs rose from $395 psf in 2004 to $1,548 psf in the year to date, according to an analysis by JLL, marking a Compound Annual Growth Rate (CAGR) of about 14.6 per cent per year.

Chua Yang Liang, Head of South-east Asia research at JLL said the outlook for GCBs remains positive, and they are expected to offer strong capital preservation given their rarity. Additionally, Wong predicts about 20 to 30 GCBs will be sold for the whole of 2015.

credits: propertyguru

1 Star2 Stars3 Stars4 Stars5 Stars (1 votes, average: 5.00 out of 5)
Loading...
Author

60% of flat buyers opt for open kitchen concept

Posted by Singapore Property Launch on 23rd December 2014 in Blog

 

60 percentage of flat buyers opt for open kitchen concept

Image: Hdb

The “open kitchen” concept has gained popularity, with 60 percent of Built-To-Order (BTO) flat buyers going for the said option, reported the media.

Notably, the choice of having an open kitchen was piloted in September 2012 during a BTO exercise at Teck Ghee Parkview, and about 70 percent of house buyers opting for the open kitchen concept (pictured).

The option of not having a wall to separate the kitchen from the rest of the house comes under the HDB’s Optional Component Scheme, which was introduced in 1989 to provide flat buyers more options when customising their units.

Kelvin Tan, co-founder and interior designer at Celsius Ink, noted that said options help new home owners save costs.

“Without the open kitchen concept, they have to knock down walls, remove tiles, and a lot of submissions are required in order for them to achieve this new design…With the savings, if this option is provided, they’re able to use their funds in some other areas for renovation,” he said.

“I think you can save a good amount of money, because if you’re talking about hacking, on a high price side, you’re looking at anywhere between $400 and $500. Touching up might cost you about $300 to $400 if it is a big wall. Easily, you can save up to $700 or $800,” added Alvin Chan, Managing Director of i.Haven Design Consultants.

The first batch of HDB flats offering the open kitchen concept are set to be completed by Q1 2017.

credits: propertyguru

1 Star2 Stars3 Stars4 Stars5 Stars (1 votes, average: 5.00 out of 5)
Loading...