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Kent Ridge Hill Residences Opens For Preview This Weekend

Posted by Singapore Property Launch on 23rd October 2018 in Blog, Hot Projects, Property
Kent Ridge Hill Residences crop

Artist’s impression of Kent Ridge Hill Residences, a new condominium located right at the edge of Kent Ridge Park.

Kent Ridge Hill Residences, a 548-unit residential project at South Buona Vista Road, will open for preview this weekend (20 Oct).

The 99-year leasehold condo is being developed by Oxley Holdings at the former site of Vista Park, a low-rise walk-up apartment that was acquired via en bloc sale in 2017 for $418 million.

Oxley also recently launched The Verandah Residences within the vicinity, which was sold out within three months.

Situated on a 319,250 sq ft site, Kent Ridge Hill Residences will comprise 498 condo units and 50 strata landed homes that are spread across 11 five-storey blocks.

Various unit layouts will be offered, from one- to five-bedders ranging from 474 sq ft and 2,067sq ft.

The project will also feature a tennis court, 50m lap pool, kid’s pool, waterjet pool, tree house party deck, function room and a putting green, among others.

Located right at the edge of Kent Ridge Park, Kent Ridge Hill Residences is also close to Pasir Panjang MRT station.

It is also within proximity to the National University of Singapore (NUS), One-North Business Park, National University Hospital (NUH), Harbourfront, Mapletree Business City and Greater Southern Waterfront City.

Other nearby amenities include Holland Village, Rochester Park and Vivo City.

credits: propertyguru

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New Private Home Sales Up 51% In Sept

Posted by Singapore Property Launch on 17th October 2018 in Blog
Crowd at JadeScape booking day crop

Buyers waiting for their numbers to be called during the balloting process at JadeScape’s showflat. (Photo: Qingjian Realty)

Private home sales in Singapore rose 51 percent in September as developers launched new projects following the Hungry Ghost month and as buyers recover from the impact of recent curbs.

Urban Redevelopment Authority (URA) data released on Monday (15 Oct) shows that developers moved 932 units last month, up from 617 units in August.

On an annual basis, private homes sales jumped 42 percent from 657 units over the same period last year.

Including ECs, developers sold 944 units, up 47.5 percent from the 640 units transacted in August and 4.2 percent higher than last year’s 906 units.

JadeScape on the former site of Shunfu Ville emerged as the best-selling project last month, with 327 units transacted at a median price of $1,669 psf, reported the Business Times.

Mayfair Gardens by Oxley Holdings moved 82 units at a median price of $1,945 psf, while Tripartite Developers’ The Jovell sold 41 units at a median price of 1,259 psf.

Freehold development Jui Residences by Selangor Dredging Berhad sold 31 units at a median price of $1,704 psf last month.

Describing the sales figures as “quite encouraging”, Christine Li, senior director and head of research at Cushman & Wakefield, revealed that this year’s September sales result is the “highest September new home sales since 2013”.

But while market confidence appears to have improved, developers “are still grappling in setting an appropriate price level to attract buyers”, said JLL national director of research and consultancy Ong Teck Hui, while noting that seven new private residential projects were launched last month.

Looking ahead, ERA Realty key executive officer Eugene Lim expects developers to sell 9,000 to 10,000 private homes this year, down from last year’s 10,566 units.

“With a wide selection of new projects coming up, buying demand is not expected to increase significantly as buyers evaluate their housing needs, options and finances,” said Lim.

“We have not observed significant price discounts yet. Developers who have bought land at high prices would need to sell even higher in order to remain profitable. This provides support for property prices in the short term, barring any external shocks.”

credits: propertyguru

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Singapore Remains The Best Place For Expats: HSBC Survey

Posted by Singapore Property Launch on 15th October 2018 in Blog
Singapore remains the best place for expats: HSBC survey

Singapore scored highly in terms of family benefits and overall quality of life.

Singapore has once again – for the fourth consecutive year – emerged as the best place for expats to live and work, reported Channel NewsAsia citing an HSBC survey.

New Zealand came in second, while Germany, Canada and Bahrain rounded up the top five list.

While expats in the city-state received less on average at US$160,000, compared to those in Hong Kong who earn US$180,000 annually, Singapore did better when it comes to ratings of family benefits and overall quality of life.

In fact, almost three-quarters of expats in Singapore felt that the overall quality of life of their children is better here.

“The quality of childcare and education are considered better than at home for many expats and 60 percent say their children’s health and well-being has improved,” said the survey.

And with four out of five expats expressing confidence in the country’s economic and political stability, 78 percent said they would recommend Singapore to anyone planning to work abroad.

“More than a quarter of Singapore expats may have originally been sent by their employer (27 percent), but almost half (47 percent) have stayed in this safe, well-organised city and its lush, vibrant surroundings for the great quality of life it offers them and their family,” added the survey.

The survey of 22,318 expats, however, revealed that living in the city-state can be stressful, with 46 percent of the expats saying that stress levels at work in the Southeast Asian country are higher compared to what they witnessed back home.

Singapore’s high cost of living also posed a problem to some expats, with two in four saying they could not afford to buy a home in the city-state.

Meanwhile, Singaporeans who moved abroad said they enjoyed better work/life balance, with 50 percent saying they found personal fulfilment working abroad.

“Having left a well-organised, structured and carefully managed culture to plunge into the great global unknown, far more Singaporeans abroad (51 percent) feel the experience has made them more adaptable than the global average (39 percent),” noted the survey.

credits: propertyguru

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MAS Checking Impact Of New Property Curbs

Posted by Singapore Property Launch on 14th October 2018 in Blog
non-landed private homes

The central bank’s head thinks it will take at least two to three quarters to fully understand the implications of the latest property cooling measures.

After the government imposed a “decisive set of measures” on 6 July, the Monetary Authority of Singapore (MAS) is keeping a close watch on the private residential sector.

“The property market always warrants close watching, whichever direction it is inching towards,” said the central bank’s managing director Ravi Menon in a recent interview with Bloomberg.

“It’s too early to tell what the implications from the last round of tightening measures are. It will take at least two to three quarters for the full implications to be understood. So we are watching that closely.”

He said it was not sustainable that private home prices were increasing significantly amid rising interest rates and slowing growth in the country’s gross domestic product (GDP).

According to data from the Urban Redevelopment Authority, private home prices in the city-state rose by 3.9 percent quarter-on-quarter in Q1 2018, or the highest quarterly price gain since Q2 2010. The growth then decreased slightly to 3.4 percent in the second quarter.

Moreover, Singapore was ranked as the world’s sixth most expensive city in Bloomberg’s annual global city housing affordability index.

“The property market, before we implemented the cooling measures, was pretty hot. This was a wrong time to see a renewed property bubble. Not that there was a bubble, but we wanted to pre-empt that,” noted Menon.

But after the new curbs took effect, the latest flash estimates released earlier this month showed that quarterly growth in private home prices significantly slowed down to 0.5 percent in Q3 2018, or the slowest pace in five quarters.

At the same time, en bloc sales of private residential projects plunged by 90.71 percent to $353 million in the third quarter compared to $3.8 billion in the quarter before.

The new cooling measures “were taken at a time when we already knew about the risks facing the economy. We also knew and expected that growth was going to moderate gently into the second half of this year. So all those were taken into account,” Menon added.

credits: propertyguru

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Smarter And Niche Developments Impress At Annual PropertyGuru Singapore Property Awards

Posted by Singapore Property Launch on 13th October 2018 in Blog
PropertyGuru Singapore Property Awards 2018 crop

Exclusive gala recognised the finest in one of Asia-Pacific’s leading property markets.

– Qingjian Realty wins Best Developer and Best Smart Building Development for JadeScape

– Gongs presented to outstanding green developments, and Changi Airport’s Terminal 4

– Promising female real estate leaders take the spotlight, including SingHaiyi’s Celine Tang as the first-ever female Singapore Real Estate Personality of the Year winner

An elite roster of winning properties and developers took the stage at the 8th annual PropertyGuru Asia Property Awards (Singapore) gala dinner, presented by Kohler on Friday evening (12 October) at the Sands Expo and Convention Centre at Marina Bay Sands.

The coveted Best Developer title went to Qingjian Realty, which collected a total of eight golden statuettes and four commendations at the end of the four-hour gala.

“QingJian Realty has truly exceeded the expectations of its loyal consumers as well as the judging panel for launching and producing well thought-out and carefully designed developments that combine smart, eco-friendly, universally accessible features, and outstanding customer care policies,” said the independent panel of experts.

“In the past year, the company has boosted its community engagements through volunteer programmes, cementing its reputation as one of Singapore’s finest developers.”

Another top winner was UOL Group, earning the new Special Recognition for Design and Construction, plus gongs for Sustainable Development and CSR (corporate social responsibility).

Several categories were introduced this year as the judges saw the opportunity to acknowledge essential and niche segments of the market that showcase functionality, sustainability and smarter technology for the benefit of consumers.

Amongst the new gongs presented are the Special Recognition for Public Facility, presented to two winners: Learning Forest @ Singapore Botanic Garden by Stephen Caffyn Landscape Design, and Singapore Changi Airport (Terminal 4).

The ceremony also presented Best Industrial Development and Best Industrial Green Development for Logos-Yang Kee Logistic Warehouse by LOGOS, and Best Smart Building Development for JadeScape by Qingjian Realty.

In addition, Qingjian won the new Special Recognition for Customer Care for creating seamless communication channels between the developer and their customers, and the new Best Residential Green Development for Le Quest.

A total of 30 golden statuettes were handed out at the exclusive ceremony that also celebrated strong female leaderships, marked by the election of Lim Wenhui, partner at SPARK Architects, as the new chairperson of the judging panel.

The event also hailed the first-ever female Real Estate of the Year winner in Singapore –– SingHaiyi Group Ltd’s group managing director Celine Tang, who was selected by the editors of PropertyGuru Property Report magazine for leading her company’s efforts in building a trustworthy brand by providing high quality real estate developments such as the award-winning The Vales, as well as for helping to break the glass ceiling for female leaders in the building industry.

Lewis Ng, chief business officer of PropertyGuru Group, who presented Mrs. Tang her special award, said: “It is such a joy that we have come together tonight to celebrate the best of the industry – from the residential and commercial sectors, and design, and the most outstanding Singaporean developers as they pursue greatness and elevate industry standards. Congratulations in advance to all the Winning and Highly Commended companies for lifting our spirits and raising the threshold of excellence. Well done and you have our thanks for making an impact in the industry.”

Terry Blackburn, founder and managing director of the PropertyGuru Asia Property Awards, said: “Since we started recognising Singaporean developers in 2011, the Awards have grown year on year through market ups and downs, and we’re grateful for the support of the finest developers in the industry. The quality of design and construction here in Singapore has clearly made its influence felt around Asia, and has undoubtedly played a part in attracting more and more countries to be benchmarked alongside developments here.”

The 2018 PropertyGuru Asia Property Awards (Singapore) gala dinner was supported by platinum sponsor Kohler; co-sponsor Mitsubishi Electric; official portal partner PropertyGuru.com.sg, Singapore’s No. 1 property site; media partners Southeast Asia Globe, LookBox Living, Top 10 of Asia, and PropertyGuru Property Report; and official supervisor BDO, one of the world’s largest auditing and accountancy firms.

Head judge Lim Wenhui was joined on the judging panel by experts in design and consultancy: Alexander Karolik Shlaen – CEO, Panache Management; Benedict Andrew Lim – EY Partner, ASEAN Real Estate Leader; Clement Ong – Head of Strategic Planning and Investment, Banyan Tree Group; Henry Woon – Director, Atelier Ten, CEng MCIBSE, MSc, BEng, LEED AP BD+C; Kristin Thorsteins – Vice President Development & Asset Management, East & South Asia and Pacific (ESAP), Club Med; and Mink Tan – Chief Designer, MINKKE architects. BDO Singapore supervisors are led by executive director Roger Loo and manager Zee Chang Teng (Christopher).

COMPLETE LIST OF WINNERS AND HIGHLY COMMENDED

8th PropertyGuru Asia Property Awards (Singapore) 2018

DEVELOPER AWARDS

Best Developer

WINNER: Qingjian Realty (South Pacific) Group Pte Ltd

Special Recognition in CSR

WINNER: Keppel Land Limited

WINNER: UOL Group Limited

Special Recognition in Sustainable Development

WINNER: UOL Group Limited

Special Recognition for Design and Construction

WINNER: Keppel Land Limited

WINNER: UOL Group Limited

Special Recognition for Building Communities

WINNER: Keppel Land Limited

WINNER: Qingjian Realty (South Pacific) Group Pte Ltd

Special Recognition for Customer Care

WINNER: Qingjian Realty (South Pacific) Group Pte Ltd

DEVELOPMENT AWARDS

Best Luxury Condo Development

WINNER: 8 St Thomas by Bukit Sembawang Estates Limited

HIGHLY COMMENDED: Amber45 by UOL Group Limited

Best Private Condo Development

WINNER: Stirling Residences by LN Development (Stirling) Pte Ltd

HIGHLY COMMENDED: Highline Residences by Keppel Land Limited

HIGHLY COMMENDED: JadeScape by Qingjian Realty (Marymount) Pte Ltd

HIGHLY COMMENDED: The Tre Ver by UOL Group Limited & Singapore Land Ltd

HIGHLY COMMENDED: Twin VEW by CSC Land Group (Singapore) Pte Ltd

Best Executive Condo Development

WINNER: The Vales by Anchorvale Residences Pte Ltd

HIGHLY COMMENDED: Westwood Residences by Koh Brothers Development Pte. Ltd & Heeton Homes Pte. Ltd.

Best Landed Development

WINNER: Belgravia Green by Fairview Developments Pte Ltd (a unit of Tong Eng Group)

HIGHLY COMMENDED: Nim Collection by Bukit Sembawang Estates Limited

Best Office Development

WINNER: Arc 380 by Tong Eng Group

Best Mixed Use Development

WINNER: Le Quest by Qingjian Realty (BBR) Pte Ltd

HIGHLY COMMENDED: Centrium Square by Feature Development Pte Ltd (a unit of Tong Eng Group)

Best Industrial Development

WINNER: Logos-Yang Kee Logistic Warehouse by LOGOS

HIGHLY COMMENDED: Tai Seng Centre by NS Property Development Pte Ltd

Best Smart Building Development

WINNER: JadeScape by Qingjian Realty (Marymount) Pte Ltd

HIGHLY COMMENDED: Le Quest by Qingjian Realty (BBR) Pte Ltd

DESIGN AWARDS

Best Luxury Condo Architectural Design

WINNER: 8 St Thomas by Bukit Sembawang Estates Limited

Best Luxury Condo Interior Design

WINNER: Amber45 by UOL Group Limited

HIGHLY COMMENDED: 8 St Thomas by Bukit Sembawang Estates Limited

Best Private Condo Architectural Design

WINNER: Stirling Residences by LN Development (Stirling) Pte Ltd

HIGHLY COMMENDED: Sim Urban Oasis by GuocoLand Singapore

HIGHLY COMMENDED: The Tre Ver by UOL Group Limited & Singapore Land Ltd

HIGHLY COMMENDED: Twin VEW by CSC Land Group (Singapore) Pte Ltd

Best Private Condo Interior Design

WINNER: JadeScape by Qingjian Realty (Marymount) Pte Ltd

HIGHLY COMMENDED: Stirling Residences by LN Development (Stirling) Pte Ltd

HIGHLY COMMENDED: The Tre Ver by UOL Group Limited & Singapore Land Ltd

HIGHLY COMMENDED: Twin VEW by CSC Land Group (Singapore) Pte Ltd

Best Private Condo Landscape Architectural Design

WINNER: Highline Residences by Keppel Land Limited

HIGHLY COMMENDED: JadeScape by Qingjian Realty (Marymount) Pte Ltd

HIGHLY COMMENDED: Stirling Residences by LN Development (Stirling) Pte Ltd

HIGHLY COMMENDED: The Tre Ver by UOL Group Limited & Singapore Land Ltd

HIGHLY COMMENDED: Twin VEW by CSC Land Group (Singapore) Pte Ltd

Best Executive Condo Architectural Design

WINNER: The Vales by Anchorvale Residences Pte Ltd

HIGHLY COMMENDED: Westwood Residences by Koh Brothers Development Pte. Ltd & Heeton Homes Pte. Ltd.

Best Executive Condo Interior Design

WINNER: The Vales by Anchorvale Residences Pte Ltd

Best Executive Condo Landscape Architectural Design

WINNER: Westwood Residences by Koh Brothers Development Pte. Ltd & Heeton Homes Pte. Ltd.

HIGHLY COMMENDED: The Vales by Anchorvale Residences Pte Ltd

Best Housing Architectural Design

WINNER: Nim Collection by Bukit Sembawang Estates Limited

Best Office Architectural Design

WINNER: Centrium Square by Feature Development Pte Ltd (a unit of Tong Eng Group)

BEST OF SINGAPORE AWARDS

Best Condo Development (Singapore)

WINNER: Stirling Residences by LN Development (Stirling) Pte Ltd

Best Residential Green Development

WINNER: Le Quest by Qingjian Realty (BBR) Pte Ltd

HIGHLY COMMENDED: Highline Residences by Keppel Land Limited

HIGHLY COMMENDED: Nim Collection by Bukit Sembawang Estates Limited

HIGHLY COMMENDED: Sim Urban Oasis by GuocoLand Singapore

Best Industrial Green Development

WINNER: Logos-Yang Kee Logistic Warehouse by LOGOS

SPECIAL AWARDS

Best Universal Design Development

WINNER: JadeScape by Qingjian Realty (Marymount) Pte Ltd

HIGHLY COMMENDED: Highline Residences by Keppel Land Limited

HIGHLY COMMENDED: Le Quest by Qingjian Realty (BBR) Pte Ltd

HIGHLY COMMENDED: Nim Collection by Bukit Sembawang Estates Limited

Special Recognition for Public Facility

WINNER: Learning Forest @ Singapore Botanic Garden by Stephen Caffyn Landscape Design

WINNER: Singapore Changi Airport (Terminal 4) by Changi Airport Group (Singapore) Ptd Ltd (CAG)

PUBLISHER’S CHOICE

Singapore Real Estate Personality of the Year

WINNER: Celine Tang, Group Managing Director, SingHaiyi Group Ltd.

credits: propertyguru

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GCB Of Former HDB Chairman Sold For Nearly $94m

Posted by Singapore Property Launch on 10th October 2018 in Blog
Dalvey Road GCB crop

The sale price of the bungalow at Dalvey Road is lower than the expected price of about $100 million. (Photo: JLL)

The freehold good class bungalow (GCB) of Lim Kim San, the Housing and Development’s Board’s (HDB) first chairman, has changed hands for $93.9 million, reported iCompareLoan.

Located on a 52,059 sq ft site at 81 Dalvey Road, the property was purchased for $1,804 psf, but it was lower than the expected price of about $100 million.

It was sold by the estate of Lim Kim San, who is affectionately remembered as “Mr HDB” for successfully leading Singapore’s public housing programme in the 1960s and help alleviated the acute shortage of homes back then.

The GCB was sold to a Singaporean member of the Tsai family from Taiwan. The Tsai family’s late patriarch, Tsai Wan-lin, was deemed by Forbes as Taiwan’s wealthiest individual during the time of his death in 2004.

It was put up for sale on 31 July, with the tender exercise closing on 12 September.

The property’s high price tag is attributed to its large land area, elevated grounds and proximity to the Singapore Botanic Garden.

Aside from that, marketing agent JLL revealed that the site is spacious enough to be subdivided into three bungalow plots or two for big good class bungalows.

Completed in 1967, the property is situated within the White House Park GCB area and is one of the most prized houses among the 39 gazetted bungalow zones there.

“Dalvey Road is the premier address to homes of the who’s who in Singapore, including foreign high commissioners and ambassadors,” said JLL regional director Tan Hong Boon.

credits: propertyguru