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Upper Serangoon Road site received 11 bids

Posted by Singapore Property Launch on 28th November 2014 in Blog
Upper Serangoon Road site received 11 bids

image: URA

The tender for a residential with first-storey commercial site at Upper Serangoon Road received 11 bids yesterday.

Asset Legend Limited submitted the highest bid of $276.8 million, while the second highest bid was SL Capital Ventures at $240 million.

Offered for sale on a 99-year lease, the land parcel is easily accessible via major roads, expressways and Kovan MRT station.

According to media reports, the parcel is the first Government Land Sales (GLS) site that has to meet the new construction requirements introduced by the Building and Construction Authority (BCA) to improve productivity within the sector.

The Urban Redevelopment Authority (URA) will announce the tender award at a later date.

credtis: propertyguru

 

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City-state is 4th best place to work

Posted by Singapore Property Launch on 22nd November 2014 in Blog
City-state is 4th best place to work

image: URA

Singapore has been ranked as the fourth best city in the world to work by global business talent in a survey conducted by Insead, the world’s largest graduate business school.

The United Arab Emirates’ most cosmopolitan city, Dubai, was identified as the most attractive city in the world to live in in terms of professional and private life, according to the Insead Alumni survey.

The news supports the findings of the 2013 Global Talent Competitiveness Index (GTCI), created by Insead, in partnership with Singapore’s Human Capital Leadership Institute and Adecco, which ranked the UAE ahead of other oil-based economies in the Gulf and the Middle East region for attracting and retaining talent, and 19th globally.

The new study, undertaken for the first time by the Insead Alumni Association France, has recorded and assessed the responses of 835 Insead Alumni with international working experience.

It assessed four all-encompassing factors drawn from 30 criteria dealing with professional and private life: economic dynamism (quality of labour, access to funding, etc.), quality of life (sports and cultural facilities, air quality, etc.), cost of living (real estate, dining and entertainment, etc.), and finally, the overall attractiveness of the city (young talent, access to technology, etc.)

Among 15 of the world’s prominent cities, Dubai topped the list for the best place to work, ahead of Amsterdam (2nd), Toronto (3rd), and Singapore (4th), ranking first in economic dynamism, third in overall attractiveness, and receiving the fourth place in quality of life and cost of living.

Miguel Lobo, Associate Professor of Decision Sciences and Director of Insead Campus Abu Dhabi said: “To some it might come as a surprise that Dubai has been ranked as the best place to work globally by the Insead Alumni Association, but for Insead in the region this is not a revelation.

“Today’s business leaders and key decision-makers recognise the dynamism of this country, which leads many to choose to live, work and actively immerse themselves in the regional business landscape.”

Singapore is regularly ranked highly in surveys looking at the best global cities to live and work, as well as for its cost of living.

credits: propertyguru

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Government sets quota to help families live near each other

Posted by Singapore Property Launch on 22nd November 2014 in Blog

Gov't sets quota to help families live near each other

HDB will tweak the Married Child Priority Scheme (MCPS) from this month’s Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercises.

MCPS will now be a quota-based priority scheme to offer eligible applicants higher chances of getting a flat. Previously, families who wish to live with or near each other are granted extra ballot chances for their new flat application.

Now, up to 30 percent of the flat supply will be reserved for MCPS first-timer families and up to 15 percent for second-timer families.

Under the enhanced MCPS, first priority will be extended to parents and married children who apply for a flat to live in together. Parents who give up their flat in a mature estate to move into a BTO flat near to their married child in a non-mature estate will also benefit as a first priority.

HDB will offer about 4,277 BTO flats in Sembawang, Sengkang, Tampines and Yishun in November. A concurrent Sale of Balance Flats (SBF) exercise will releasr an additional 3,000 flats.

MCPS applicants make up about one quarter of flat bookings at each exercise, HDB said in a statement.

credits: propertyguru

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5 major upcoming launches

Posted by Singapore Property Launch on 20th November 2014 in Blog
Marine Blue perspective 6

Marine Blue perspective

Several new private residential projects could launch in the next six months, revealed Savills Research.

They will be located in the Core Central Region (CCR) and Rest of Central Region (RCR). Notably, there are no major projects planned for the Outside Central Region (OCR) in the near future.

Although no official launch dates have been set, developers are expected to step up their launches ahead of the year-end festive season and school holiday lull period, according to Chia Siew Chuin, Research Head at Colliers International.

She noted that despite the soft market conditions, there is still demand for well-located projects in areas with growth potential. Pricing will also be a determining factor in moving sales.

Here’s a sneak peek at the five upcoming launches – Marine Blue, Pollen & Bleu, Sophia Hills, South Beach Residences and Victoria Park Villas.

 

1. Marine Blue (RCR)
Developer: CapitaLand
Tenure: Freehold
Location: Marine Parade Road (D15)
Nearest MRT station: Eunos
Estimated no. of units: 124

 

2. Pollen & Bleu (CCR)
Developer: SingLand
Tenure: 99-year leasehold
Location: Farrer Drive (D10)
Nearest MRT station: Farrer Road
Estimated no. of units: 106

 

3. Sophia Hills (CCR)
Developer: Hoi Hup Sunway
Tenure: 99-year leasehold
Location: Mount Sophia (D9)
Nearest MRT station: Dhoby Ghaut
Estimated no. of units: 493

 

4. South Beach Residences (CCR)
Developer: CDL and IOI Corporation
Tenure: 99-year leasehold
Location: Beach Road (D7)
Nearest MRT station: Esplanade
Estimated no. of units: 190

 

5. Victoria Park Villas (CCR)
Developer: CapitaLand
Tenure: 99-year leasehold
Location: Coronation Road (D10)
Nearest MRT station: Tan Kah Kee (future)
Estimated no. of units: 109

credits: propertyguru

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4 best-selling condos in October

Posted by Singapore Property Launch on 20th November 2014 in Blog

Marina One Residences perspective 1

 

Property developers sold 765 residential units in October, an 18 percent increase from the month before, recent data from the Urban Redevelopment Authority (URA) showed.

According to real estate agency PropNex, developers have been stepping up new launches to tap on existing demand before the festive season which sees fewer sales.

A total of 649 units were released last month, up around 26 percent from September.

Although the property market remains soft, some projects attracted relatively good sales, noted PropNex, adding that “it had to be drawn out by attractive pricing”. Another key driver is the project’s location.

Here’s a list of the four condominiums that dominated buying activity in October – Marina One Residences, Coco Palms, Lakeville and The Skywoods.

 

1. Marina One Residences (CCR)
Developer: M+S
Tenure: 99-year leasehold
Nearest MRT station: Marina Bay
Median price: $2,228 psf
Sales update: 334 units sold

 

2. Coco Palms (OCR)
Developer: CDL and Hong Realty
Tenure: 99-year leasehold
Nearest MRT station: Pasir Ris
Median price: $1,039 psf
Sales update: 34 units sold

 

3. Lakeville (OCR)
Developer: MCL Land
Tenure: 99-year leasehold
Nearest MRT station: Lakeside
Median price: $1,340 psf
Sales update: 32 units sold

 

4. The Skywoods (OCR)
Developer: Bukit Timah Green Development
Tenure: 99-year leasehold
Nearest MRT station: Hillview (completion set for 2015)
Median price: $1,267 psf
Sales update: 21 units sold

 

credits: propertyguru

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CDL warns of fire sales in high-end market

Posted by Singapore Property Launch on 14th November 2014 in Blog

CDL warns of fire sales in high-end market

CITY Developments Ltd (CDL) executive chairman Kwek Leng Beng has warned that the current subdued state of the Singapore housing market particularly in the high-end segment, if it continues, could ignite fire sales.

Mr Kwek made this point in CDL’s third quarter results statement. CDL posted net earnings of S$127.21 million for the third quarter ended Sept 30, 2014, up 4.7 per cent from the same year-ago period. Revenue rose 58.3 per cent to S$1.32 billion.

“The domestic residential real estate market will need to battle headwinds as sentiments remain subdued with little signs of property curbs being tweaked or removed in the near-term. Transaction volumes and prices continue to face downward pressures as homebuyers maintain a wait-and-see approach,” he lamented.

The high end market, in particular, remains subdued with prices still below their 2008 peak. “Average residential rents across all market segments, particularly the high-end . . . are on the decline, coupled with a weak secondary market.

“From the group’s experience, having gone through many property cycles, if this trend continues, with prices dipping more, some mortgage borrowers affected by lower rentals may have difficulty servicing their loans, possibly leading to forced fire sales,” Mr Kwek said.

On a more positive note, Mr Kwek noted that savvy investors who believe in Singapore’s prospects will continue to read positively into the property market with a medium to long-term perspective. “New launches that are priced carefully will continue to sell, as buyers only need to make progressive payments based on stages of construction, and they are confident that the market will recover over time,” he added.

The group can also count on two “shining stars” – the office and hotel markets. “Office and hotel properties have become most desirable assets. Demand for Grade A office space in Singapore is improving; and capital value for hotels has increased significantly, even though earnings have not caught up yet. With over 120 hotels globally, the group is able to counterbalance by geographical spread,” Mr Kwek said.

In the first nine months of this year, CDL’s net earnings shrank 17.1 per cent to S$384.74 million despite revenue surging 20.3 per cent to S$2.92 billion.

CDL said that the earnings drop was due to absence of significant divestment gains from non-core investment properties as compared to the corresponding period, which had accounted for gains largely from the sale of 100G Pasir Panjang and strata units in Citimac Industrial Complex, Elite Industrial Building I, Elite Industrial Building II and GB Building. “Excluding such divestment gains from YTD Sept 2013, on a like-for-like comparison, the group’s core earnings would have increased by 25.5 per cent for YTD Sept 2014,” CDL said in its results statement.

credits: stproperty

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