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Belgravia Green Wins Best Landed Development Award For 3-Storey Seletar Residences

Posted by Singapore Property Launch on 2nd November 2018 in Blog
Best landed development Belgravia Green

Terence Teo, Director at Tong Eng Group, collecting the Best Landed Development Award for Belgravia Green at the recent gala dinner.

Contributor Feature

By Nadia Willan

Thoughtful design to maximize privacy, comfort and a feeling of connecting with the green, landscaped setting is the principle behind the freehold Belgravia Green residential development, with work just beginning on the more than 136,500 sq ft plot in the tranquil northeast suburban neighbourhood of Seletar. The development is within proximity to major road routes and expressways, with quality local amenities such as shops and schools adding to its residential appeal.

The low-density Belgravia Green project is set to complete by the end of 2023. Meanwhile, project developers Fairview Developments Pte Ltd, a subsidiary of Tong Eng Group, is already showcasing success with a win in the Best Landed Development category at the 8th annual PropertyGuru Asia Property Awards (Singapore) in October 2018. The residential build is being supported by LAUD Architects, with interior design by Architology and landscaping by PDAA Design.

The modern, minimalist, Scandinavian-style homes of Belgravia Green are designed with the concept of “less is more” in mind. This is set to result in five-bedroom, three-storey homes that feel abundantly spacious, with clean lines and a bold asymmetrical design that feels clutter-free. With an average unit size of 3,530 sq ft, each residence includes a basement and loft space as well as its own private elevator.

One of the judges on this year’s judging panel is Clement Ong, AVP for Strategic Planning & Investment at Banyan Tree Hotels & Resorts. He praises the kind of resort-lifestyle the 81-residence complex inspires. “Belgravia Green is a freehold cluster development that wins in terms of value, design and multitude of facilities. Private lift access to every level and smart home system make it an ideal home. The clubhouse, gym, BBQ deck, playground, swimming pool and gardens create a complete landed lifestyle.” These facilities include a kids’ pool, hydrotherapy jets and a waterfall feature overflowing from the 28-metre infinity-edged pool.

An impressive feature of the Belgravia Green homes is a distinctive fin design to ensure an optimal level of shelter, privacy and shade. At the same time, metal frames on the first floor seamlessly connect the indoors to the outdoor greenery, extending the internal living space. Full-length windows enhance the ambition to build light and airy contemporary homes that resonate with the lifestyles of Singapore’s modern-day families.

Landscaping is a key component of Fairview Development’s residential vision of offering residents the space in which to live, relax, stay active, and socialise. This is reflected in the gentle pathways, natural softscaping and themed gardens. Meanwhile, quiet spots can be meditative spaces or gathering places for get-togethers with others. A rocky pond with a babbling brook and comfortable outdoor furnishings reinforces Belgravia Green’s appeal as a homely residence, whether for families or older residents looking for an elegant and functional property to live in.

credits: propertyguru

Author

Govt Launches Three Sites Yielding 700 ECs, Over 1,300 Private Condos

Posted by Singapore Property Launch on 1st November 2018 in Blog
Marina View site

Aerial view of the white site at Marina View. (Photo: URA)

The government released for sale on Wednesday (31 Oct) two confirmed list sites and one reserve list plot that can collectively yield 540 hotel rooms and slightly over 2,000 residential units.

In particular, the Housing and Development Board (HDB) launched for sale a 24,938.7 sq m site at Tampines Avenue 10 for an executive condominium (EC) project. It has a maximum gross floor area (GFA) of 69,829 sq m, and the winning buyer is allowed to build up to 700 EC units.

Experts think the land parcel will see stiff competition given the limited supply of EC sites in the market and the strong bidding for such plots this year. For instance, Canberra Link and Anchorvale Crescent attracted nine and seven bids respectively at $558 psf ppr and $576 psf ppr.

“Tampines is the first regional centre in Singapore and a sought after place to live in. The parcel sits in a mature estate with plenty of amenities like Our Tampines Hub, connectivity options like Tampines Downtown line and green spaces like Bedok Reservoir,” Huttons Asia’s research head Lee Sze Teck told the Straits Times.

Colliers International’s Singapore research head Tricia Song also believes that the new rules on the average unit size of 85 sq m will unlikely dampen the demand for ECs as such properties are intended for families in the first place. The 700-unit limit also indicates that the project’s average dwelling size is over 85 sq m.

She expects the EC site to attract seven to nine developers, with a top bid of $420 million ($560 psf ppr). On the other hand, Knight Frank Singapore’s research head Lee Nai Jia is more upbeat expecting offers of between $640 and $680 psf ppr, given the large number of upgraders eyeing the area.

Meanwhile, the Urban Redevelopment Authority (URA) released for sale a 11,643.3 sq m private condo site at Kampong Java Road. With a GFA of 32,602 sq m, the successful bidder can build about 435 houses on the land parcel.

“Response to the Kampong Java site could provide an indication of developers’ confidence in the high-end home market after a spate of collective sales in the area and the recent announcement on revised unit size guidelines,” said Song from Colliers.

She pointed out that site will need to comply with the new average size of 85 sq m. Nonetheless, she expects the top bid to reach $470 million ($1,350 psf ppr).

As for Knight Frank’s Lee, he is more bullish. “Land parcels in the Kampong Java area do not come by often, and the site has the added benefit of being within walking distance to Newton MRT station. We expect the winning bid to range from $1,500 to $1,600 psf ppr,” he explained.

Unlike the two aforementioned confirmed list sites, the third site released for sale is a reserve list plot. The white site at Marina View has a land area of 7,817.6 sq m and a subterranean stratum of 18 sq m. With a GFA of 101,629 sq m, it can yield around 540 hotel rooms and 905 private condos.

“The land parcel is a particularly attractive site – it is located within the central business district (CBD), with the future Shenton Way MRT station right at its doorstep. Additionally, supply is expected to be limited in the future, with most unsold units from new projects in the area likely to be snapped up. We expect the winning bid to range from $1,550 to $1,650 psf per plot ratio (psf ppr), attracting between 5 to 8 bids,” said Lee.

As for Song, she expects the site to attract developers with hotel interests or joint ventures, with a top bid at $1.5 billion to 1.75 billion, or $1,380 to 1,600 psf ppr.

All three land parcels have a leasehold tenure of 99 years.

The tender for the two confirmed list sites will close on 15 January 2019. As for the reserve list plot in Marina View, it will be triggered for sale if a party commits to offer an acceptable price to the government.

credits: propertyguru

Author

Forest-Inspired Queenstown Retreat Wins Best Private Condo Development Award

Posted by Singapore Property Launch on 31st October 2018 in Blog
Logan Property and Nanshan win Best Private Condo Development Award

 CB Chng (right), executive director at Logan Property Singapore, collecting the award for Best Private Condo Development at the recent gala dinner. 

Contributor Feature

A trio of shining stars in Singapore’s first satellite town are connecting condo living in the suburbs with nature-inspired lifestyle experiences, with the development of two 40-storey towers and a 38-storey tower that make up Stirling Residences. Logan-Nanshan’s forest-themed Queenstown development, with 1,259 units set in a close to 230,000 sq ft plot, is an imaginative ambition. With 18 sky terraces and two roof gardens, Stirling Residences will take residents “between the sky above and the earth below”.

Upon completion in 2021, Stirling Residences will boast panoramic city, sea and green views with 80 facilities spread across three forest zones. Meanwhile, Logan-Nanshan are proud to be Best Private Condo Development winners at the 8th annual PropertyGuru Asia Property Awards (Singapore) in October 2018, with the architectural and interior design talents of P&T Consultants and landscaping by Ecoplan Asia creating a winning combination.

It is the concept of integrating a condo development on high ground with a green-retreat design influence which extends to the outdoors that impressed the judging panel. “Stirling Residences is a contemporary and luxurious interpretation of tropical architecture with its elevated units, extensive landscaping and sky gardens. An impressive addition to the skyline with special attention given to minimise overlooking,” commented Kristin Thorsteins, one of this year’s judges and vice president of development, East and South Asia & Pacific at Club Med. “Stirling Residences stood out with its preservation of existing mature rain trees and its integration of landscaping with a children’s nursery.”

The verdant Tropical Forest of Stirling Residences promises pools, ponds, a tennis court, hammock lawn, pavilions, a meditation park, steam room, kids’ club, and more. The Fern Forest, a relaxing oasis, is offering a stargazing lawn, ponds, decks, playgrounds, fitness facilities, a stream, putting green, trekking hill, and more. The tranquil haven of the rainforest area is designed to be inviting with massage facilities, a cabana club, rainforest track, aqua foot reflexology, a teppanyaki grill pavilion, water wall feature, hillside greenery, canopy walk, and more.

Softscaping and landscaping that use the land’s existing contours are adopted by Logan-Nanshan to create a sense of fluidity between the architecture and the landscape that are carefully thought out at Stirling Residences, with design elements and furnishings harmonising with the purposeful ambiance of relaxed, resort-style living at home. Stirling Residences is a residential complex designed to act as a counterbalance to city life, with a concierge service too. These carefully crafted facilities are strategically placed within the site so that residents can, for example, look out to a grand 50-metre lap pool from the function room.

Similarly, interiors at Stirling Residences are designed to enhance this indoor-outdoor concept, with the average unit size being 861 sq ft with a choice of one- to four-bedrooms. Large open windows, glass sliding doors and spacious rooms all expand internal spaces and increase natural light. Meanwhile, marble walls and floors in some units and solid timber bedroom floors add to the contemporary, natural expression of Stirling Residences.

credits: propertyguru

Author

Falling HDB Resale Prices A Thorny Issue For Singapore Government

Posted by Singapore Property Launch on 30th October 2018 in Blog
HDB image-crop

HDB resale prices could slide by up to 2.0% this year.

There could be severe political ramifications if the Singapore government fails to adequately address the downtrend in the prices of HDB resale flats and the loss of their value as the lease dwindles, reported Bloomberg recently.

“The government has to walk a tight rope on this,” said ZACD Group research head and executive director Nicholas Mak, who expects HDB resale prices to slide by 1.0 percent or 2.0 percent for the whole of 2018.

The authorities can neither extend the leases of HDB flats “for free” nor let prices of such properties fall too much, he explained, as its impact on the wealth of homeowners could have serious political consequences.

Cushman & Wakefield also thinks that the fall in values would not only dampen public sentiment, but could also negatively affect demand for private homes as fewer HDB flat dwellers will feel comfortable enough to upgrade to private condos.

Previously, an HDB flat purchased for around $72,500 in 1985 is now selling for about six times that amount, translating to annual compounded price growth of 5.6 percent.

However, the value of HDB resale flats has been declining, while that for private residential properties has recovered in the last five quarters. This has resulted in a price gap of 13.8 percent, or the biggest in over 10 years.

Latest data published last Friday (26 Oct) by the Housing Board also shows that the HDB resale price index slid 0.1 percent quarter-on-quarter in Q3 2018. This took place even though the number of resale transactions rose 18.9 percent quarter-on-quarter and 21.6 year-on-year to 7,063 cases.

Nonetheless, the government is carrying out measures to tackle this issue. Among them is the Voluntary Early Redevelopment Scheme (VERS), which will allow homeowners to vote on whether to sell their HDB flats to the government once the age of their block hits 70 years before the 99-year lease ends. However, Credit Suisse said VERS won’t be implemented for another 20 years and won’t apply to all HDB flats.

Meanwhile, the Housing Board announced that it will offer around 3,800 Build-To-Order (BTO) flats in Yishun, Tengah, Tampines, Sengkang and Sembawang next month. It will also hold a concurrent sale of balance flats.

In particular, those buying BTO flats in Yishun, Sengkang and Sembawang will have a shorter waiting time of 2.5 years instead of the usual three to four years.

credits: propertyguru

Author

Gilstead Mansion Relaunched For Collective Sale At Lower Price

Posted by Singapore Property Launch on 28th October 2018 in Blog
Gilstead Mansion crop

The 24-unit residential development has been relaunched for collective sale at a guide price of $65 million. (Photo: Teakhwa Real Estate)

In a bid to beat the clock before the new rules on unit sizes outside the central area kick in as well as the chill of property cooling measures, the owners of Gilstead Mansion have relaunched the 24-unit development for collective sale at a lower price of $65 million, reported the Business Times.

Down $3 million from its previous guide price in June, the revised price works out to $1,524.70 psf per plot ratio (psf ppr) with no development charge payable.

Nestled on a 35,751 sq ft site, the development has an existing gross floor area of 42,632 sq ft. It is part of the Stevens-Chancery area, in which the increased average unit size of 100 sq m rule would apply for development applications submitted on or after 17 January 2019.

Marketing agent Teakhwa Real Estate noted that the site could yield about 56 new units under the current 70 sq m rule. As per Land Transport Authority confirmation, no pre-application feasibility study for traffic impact is required for the site.

“The expected land rate is undemanding in view of the high price transacted for the surrounding Dunearn Gardens at $1,962 psf and the 99-year leasehold Chancery Court at $1,610 psf,” said Teakhwa Real Estate.

“This is an opportunity for developers who target good smallish prime sites at reasonable pricing in this en bloc cycle. The potential buyer may possibly make it on time to develop the site under the current Urban Redevelopment Authority planning guidelines.”

The authorities revised the guidelines such that the average size of new private homes outside the central area would measure at least 85 sq m. However, nine areas would face the 100 sq m rule – Stevens-Chancery, Marine Parade, Balestier, Joo Chiat-Mountbatten, Pasir Panjang, Telok Kurau-Jalan Eunos, Kovan-How Sun, Loyang and Shelford.

The tender for Gilstead Mansion closes on 22 November.

credits: propertyguru

Author

Forest-Inspired Queenstown Retreat Wins Best Private Condo Development Award

Posted by Singapore Property Launch on 24th October 2018 in Blog
Logan Property and Nanshan win Best Private Condo Development Award

 CB Chng (right), executive director at Logan Property Singapore, collecting the award for Best Private Condo Development at the recent gala dinner. 

Contributor Feature

A trio of shining stars in Singapore’s first satellite town are connecting condo living in the suburbs with nature-inspired lifestyle experiences, with the development of two 40-storey towers and a 38-storey tower that make up Stirling Residences. Logan-Nanshan’s forest-themed Queenstown development, with 1,259 units set in a close to 230,000 sq ft plot, is an imaginative ambition. With 18 sky terraces and two roof gardens, Stirling Residences will take residents “between the sky above and the earth below”.

Upon completion in 2021, Stirling Residences will boast panoramic city, sea and green views with 80 facilities spread across three forest zones. Meanwhile, Logan-Nanshan are proud to be Best Private Condo Development winners at the 8th annual PropertyGuru Asia Property Awards (Singapore) in October 2018, with the architectural and interior design talents of P&T Consultants and landscaping by Ecoplan Asia creating a winning combination.

It is the concept of integrating a condo development on high ground with a green-retreat design influence which extends to the outdoors that impressed the judging panel. “Stirling Residences is a contemporary and luxurious interpretation of tropical architecture with its elevated units, extensive landscaping and sky gardens. An impressive addition to the skyline with special attention given to minimise overlooking,” commented Kristin Thorsteins, one of this year’s judges and vice president of development, East and South Asia & Pacific at Club Med. “Stirling Residences stood out with its preservation of existing mature rain trees and its integration of landscaping with a children’s nursery.”

The verdant Tropical Forest of Stirling Residences promises pools, ponds, a tennis court, hammock lawn, pavilions, a meditation park, steam room, kids’ club, and more. The Fern Forest, a relaxing oasis, is offering a stargazing lawn, ponds, decks, playgrounds, fitness facilities, a stream, putting green, trekking hill, and more. The tranquil haven of the rainforest area is designed to be inviting with massage facilities, a cabana club, rainforest track, aqua foot reflexology, a teppanyaki grill pavilion, water wall feature, hillside greenery, canopy walk, and more.

Softscaping and landscaping that use the land’s existing contours are adopted by Logan-Nanshan to create a sense of fluidity between the architecture and the landscape that are carefully thought out at Stirling Residences, with design elements and furnishings harmonising with the purposeful ambiance of relaxed, resort-style living at home. Stirling Residences is a residential complex designed to act as a counterbalance to city life, with a concierge service too. These carefully crafted facilities are strategically placed within the site so that residents can, for example, look out to a grand 50-metre lap pool from the function room.

Similarly, interiors at Stirling Residences are designed to enhance this indoor-outdoor concept, with the average unit size being 861 sq ft with a choice of one- to four-bedrooms. Large open windows, glass sliding doors and spacious rooms all expand internal spaces and increase natural light. Meanwhile, marble walls and floors in some units and solid timber bedroom floors add to the contemporary, natural expression of Stirling Residences.

credits: propertyguru