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Singapore investor sentiment hit record high in Q2

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

Singapore investor sentiment hit record high in Q2

Singapore investor sentiment climbed to its highest level in Q2 2014 since Q1 2013, on the back of a more positive view of the property, fixed income as well as mutual fund sectors, according to the Manulife Investor Sentiment Index as reported in the media.

Notably, investor sentiment rose by four points in Q2 to 15.

Manulife cited improved sentiment towards property as the main reason, with sentiment towards primary residence increasing by 10 points to 23 while investment property rose by 13 points to five.

It noted the proportion of respondents who think it is a good time to invest in their own home rose to 40 percent in Q2 from 31 percent during the first quarter.

“Low interest rates, market stability and, importantly, the view that property prices have corrected to an attractive entry level for investment were key,” it said.

Of the other asset classes in the index, fixed income (up four to 16) and mutual funds (up two to 13) also rose to their highest level since the start of the survey in Q1 2013. However, sentiment towards equities declined by three points to 16.

Singapore investors attributed their increased optimism towards fixed income to market stability and higher returns.

Meanwhile, low interest rates and the improving employment situation were cited as the main reason for their increased interest towards mutual funds.

“Clearly Singapore investors have recently regained quite a bit of confidence but it’s important not to lose sight of the fundamentals and still take a measured approach. It’s crucial to actively manage a diversified portfolio to guard against risk and maximize returns,” said Naveed Irshad, President and CEO of Manulife Singapore.

credits: propertyguru

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Cluster homes to get more space, greenery

Posted by Singapore Property Launch on 24th August 2014 in Blog

Cluster homes to get more space, greenery

In an effort to improve the quality of life for residents in landed housing estates, the Urban Redevelopment Authority (URA) has fine-tuned the guidelines for strata landed housing developments, commonly known as cluster homes.

With effect from tomorrow (23 August), fewer strata landed units can be built in a development. This addresses feedback from residents that there could be too many units, causing more congestion as well as traffic and parking problems.

A new set of formulae has been developed to help determine the number of homes allowed in various types of strata landed housing developments.

In addition, developers will have to set aside at least 45 percent of the land area in such projects for communal open space, up from the current 30 percent.

Of this, a minimum 25 percent has to be set aside for on-ground greenery while up to 20 percent can be used for communal facilities like swimming pools and playgrounds.

The revised guidelines will also support URA’s efforts to inject more greenery in Singapore’s urban landscape.

credits: propertyguru

Cluster Homes New Launches:

1) Belgravia Villas
2) Waterfront at Faber

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Leasing demand hits new high, but rents still sliding

Posted by Singapore Property Launch on 24th August 2014 in Blog

Leasing demand hits new high, but rents still sliding

Bucking the trend of a slowdown in Singapore residential sales, rental volumes surged 12.2 percent quarter-on-quarter to reach a high of 15,053 transactions in Q2 2014, according to a Savills report.

Year-on-year, this is a growth rate of 5.2 percent.

For the first six months of 2014, a total of 28,464 leases were secured, a 5.9 percent increase compared with 26,887 leases during the same period last year.

This comes despite earlier expectations of a shrinking pool of overseas nationals following tighter immigrations policies in the city-state.

“A possible reason for the healthy leasing demand could be the influx of foreigners who brought forward their plans to relocate here, fearing more moves to tighten immigration,” said Savills.

The report added: “Employers might have also made a last dash to expedite their applications for employment pass holders before the Fair Consideration Framework (FCF) comes into force in the third quarter.”

Meanwhile, rental prices continued sliding for a third straight quarter, with the URA rental index easing by 0.6 percent.

In both the Core Central Region (CCR) and Rest of Central Region (RCR), rents slipped by 0.1 percent, while the OCR (Outside Central Region) saw a bigger dip of 0.9 percent.

Specifically, average monthly rents of high-end condominiums tracked by Savills fell 1.6 percent quarter-on-quarter to $4.77 psf.

“This downward pressure is likely the result of the intense competition created by an increased supply of newly-completed developments in the central area and a reduced pool of big-budget tenants as housing budgets are shrinking,” noted the report.

Moving forward, Savills expects leasing demand to remain strong as Singapore upholds its ranking as one of the top destinations for overseas nationals.

But rents will remain soft across all market segments as the increasing housing stock of some 8,066 completed new private units by end-2014 will shift bargaining power in favour of tenants.

credits: propertyguru

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Oxley chalks up $700m surplus in Singapore projects

Posted by Singapore Property Launch on 21st August 2014 in Blog

Oxley chalks up $700m surplus in Singapore projects

Potential surplus for FY15-17 at a whopping $1 billion.

Oxley Holdings was listed 3 years ago as a boutique developer of residential projects, launching some 28 projects that have since been substantially sold out.

A report by RHB reveals that Oxley has chalked up over $700m of surplus for its Singapore development projects, which will be recognized over the next 2-3 years. In addition, its first hospitality project, The PINEs, will generate a surplus of $380m and a recurring income stream of $35m upon completion.

Also, since last year, Oxley has amassed an overseas portfolio of 13 prime sites in Malaysia, the UK, China and Cambodia. It has launched two projects, Royal Wharf in the UK and The Bridge in Cambodia, achieving $1billion of pre-sales to be booked over the next 2-3 years. The sustained momentum in upcoming launches could extend earnings visibility into FY18 and beyond.

credits: Singapore business review

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Come November, shorter travel times for MRT passengers

Posted by Singapore Property Launch on 21st August 2014 in Blog

Come November, shorter travel times for MRT passengers

Commuters who use the North-South MRT Line will enjoy shorter travel times starting from October or November this year, as the existing speed limit due to sleeper replacement work is gradually removed, media reports said.

SMRT Trains Managing Director Lee Ling Wee revealed that replacement of the timber sleepers is “progressing well” along the northern part of the line, especially in the area between Bishan and Woodlands.

He explained that these sleepers are essential to the structural integrity of the line as they are the beams that support the rails. But when new sleepers are installed, they require a period of time to settle on the stones or ballast on which the tracks are laid, he said, adding that nearly half of the sleepers on the line have already been replaced.

“This explains why we have to impose speed restrictions at certain stretches of the tracks for trains travelling between Bishan and Woodlands. At these stretches, trains slow to around 40 kilometres per hour, compared to the normal speed of around 78 km/h,” Lee said.

Nevertheless, SMRT will gradually remove the speed cap as work progresses, and the faster travel time “should be felt from October or November”.

“With the completion of resleepering work on the North-South Line by early-2015, we are confident of completely removing all related speed restrictions by the middle of next year,” added Lee.

credits: propertyguru

image: wikipedia

New Launches near MRT!

1) The Crest
2) 70 St Patricks
3) Marina One
4) Hillview Peak
5) Sky Vue
6) Sky Habitat
7) Corals at Keppel Bay
8) Sant Ritz
9) Bartley Ridge
10) The Glades
11) D’Leedon
12) The Panorama
13) Commonwealth Towers
14) City Gate

 

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Sentosa Cove feels brunt of property cooling measures

Posted by Singapore Property Launch on 21st August 2014 in Blog

Sentosa Cove feels brunt of property cooling measures

Sales of non-landed homes in Sentosa have declined significantly in the last three years, as government measures such as the Additional Buyer’s Stamp Duty (ABSD) and the Total Debt Servicing Ratio (TDSR) framework continue to bite, said media reports.

Based on URA data, only 10 non-landed homes were transacted there in the first seven months of 2014. In comparison, there were 34 and 71 deals done for the whole of 2013 and 2012 respectively.

Although most owners of luxury homes can afford to wait before they sell their property, some may have been compelled to sell due to financial problems, while some may have eked out a profit.

For instance, a 3,046 sq ft penthouse unit at The Berth By The Cove was sold for $3.5 million or $1,150 psf in July, which is cheap by Sentosa Cove standards.

Moreover, three recent transactions in the secondary market were below market value, according to Century 21 Singapore. Two units at Turquoise were priced at $1,500 psf, while another at The Oceanfront went for more than $1,600 psf.

But before the ABSD was imposed, Sentosa condos commanded an average psf price of close to $1,900 to $2,000 in 2011 and 2012, said PropNex CEO Mohamed Ismail.

“Some of the good facing units were above $2,000 psf. Right now, it has dropped on average (by) about 20 percent. Today, the average price of most of the Sentosa units is about $1,500 to $ 1,600 psf,” he added.

credits: propertyguru

New Launches near Sentosa:

1) Marina One
2) The Interlace
3) Corals at Keppel Bay

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