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Singapore Luxury Home Prices Up 11.5 Percent In First Half 2018

Posted by Singapore Property Launch on 8th September 2018 in Blog

Luxury apartments in Singapore

View of luxury apartments in Singapore.

Leading the growth in luxury home prices, Singapore, along with Tokyo, bucked the trend of falling prime prices across the world, as prices of luxury homes within the city-state rose 11.5 percent in the first half of 2018, reported Singapore Business Review citing Knight Frank research.

“In Singapore, recovery is a consequence of rising foreign demand and high land bids by developers, which has fed through to new-build prices,” said Knight Frank international residential research head Kate Everett-Allen.

However, she noted that Singapore has implemented new property cooling measures for the residential market.

“Investors may rue the rise in property market regulations which, in many cases, will add to their bottom line in the form of purchase or disposal taxes.”

In Tokyo, luxury home prices rose 9.4 percent. Knight Frank attributed the hike to economic sentiment, the relative value of the city compared with Singapore and Hong Kong, as well as investment ahead of the 2020 Olympics.

Sitting mid-table, Beijing and Shanghai saw luxury home prices increase 7.3 percent and 3.3 percent respectively.

“China’s decision to pare back its housing subsidy programme will have an impact on mass market sales in smaller cities, but we expect luxury price growth in first-tier cities to persist,” said Everett-Allen.

Knight Frank revealed that average prime price growth across the 20 cities it tracks around the world fell 4.2 percent from six percent previously.

“With the cost of finance set to rise in a number of markets, more stringent cooling measures being imposed, and slower growth in China’s first-tier cities, lower price growth will characterize the overall results of the Index for some time to come,” added Everett-Allen.

credits: propertyguru

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A Gem In Singapore’s City Fringe

Posted by Singapore Property Launch on 29th August 2018 in Blog
JadeScape Archi View crop

Artist’s impression of JadeScape by Qingjian Realty.

Special Advertising Feature

Chinese developer Qingjian Realty’s latest development JadeScape offers luxurious comfort, thoughtful design, extensive facilities, a host of smart features, and most importantly, a prime location.

It’s a well-known fact that prices of homes in Bishan – both HDB flats and private housing – are among one of the highest in Singapore. When it comes to the former, the flats in Bishan have made headlines multiple times for its record-breaking prices – in 2014, an executive flat was sold for a whopping $1.05 million, and more recently in 2017, a Design, Build and Sell Scheme (DBSS) flat at Qingjian Realty’s Natura Loft in Bishan was transacted at a cool $1.18 million.

The private properties in Bishan, which comes under District 20, too, are equally well sought after. According to figures from the Urban Redevelopment Authority (URA), the prices of 99-year leasehold condos in D20 have risen by close to 40 percent over the last eight years.

And it’s easy to see why homes in Bishan are a hot favourite among investors and home buyers despite consistently high prices – the area boasts an impressive list of qualities including its central location, a slew of dining options and proximity to shopping malls and good schools.

For those looking to purchase a property within the Bishan area, they will be pleased to know that JadeScape, developed by renowned developer Qingjian Realty and designed by award-winning architect Paul Noritake Tange, will soon come onto the market.

With more than 10 years of experience in developing properties in Singapore, Qingjian Realty boasts an impressive portfolio of almost sold out projects including Natura Loft (2008), Nin Residence at Potong Pasir (2010), the RiverParc Residence at Punggol (2011), the Riversound Residence (2012), and River Isles at Punggol.

Easy accessibility

Strategically located at Shunfu Road, residents can enjoy utmost convenience as the development is within proximity to several major expressways including the Central Expressway (CTE), the Pan Island Expressway (PIE) and the future North-South Corridor, which makes travelling to other parts of the island a breeze. For those who rely on public transportation, Marymount MRT station along the Circle Line is situated just a mere three-minute walk away.

Other upcoming transportation developments that may catalyse prices in this area would be the Upper Thomson MRT station (along the Thomson-East Coast Line), which is slated to be open in 2020, as well as the Cross-Island Line, which provides a faster commute between the east and the west, from Changi to Jurong.

Close to nature

While JadeScape is set within a central location with a slew of modern amenities, residents will be pleased to know that they can still enjoy elements of nature – the development is just a short five-minute drive to MacRitchie Reservoir and is just short distance away from Bishan-Ang Mo Kio Park. Bishan-Ang Mo Kio Park alone (divided into Bishan Park 1 and Bishan Park 2) stretches 2.8km and spans Ang Mo Kio Avenue 1 and the town’s canal. Ponds, bridges, footpaths and even a spa can be found here, making it ideal for fishing, biking and running.

JadeScape Skyline Pool

JadeScape will also boast a 50m Skyline Pool.

Voluminous layouts and smart home features

There is plenty to like about JadeScape, comprising a good mix of one- to five-bedroom types and penthouses, all boasting voluminous and generous layouts. Apart from stylish and modern interiors, the units are all designed to provide a smart lifestyle for all occupants. A pioneer in developing homes that provide smart living solutions, Qingjian Realty has incorporated all the units with plenty of smart features complemented by hiLife, a mobile app that allows you to control the air conditioning, smart curtains and lightings with your mobile device – even when you are not in Singapore.

For recreational pursuits, the development offers over 100 facilities on-site to meet the varied needs of residents.

Home to top schools

For families with school-going children, there are several reputable schools that are situated just a stone’s throw away, such as Kuo Chuan Presbyterian Primary School, Ai Tong Primary School, Catholic High School, Raffles Institution, Raffles Girls’ School and Eunoia Junior College.

For those seeking leisure and entertainment options, or simply looking for great places to shop, they can head towards Junction 8 and Toa Payoh Hub, which are a short drive away. Junction 8 offers a host of retail shops, restaurants and even a cinema, making it the perfect one-stop dining, shopping and entertainment destination for residents. Other malls that are a short walk away from the development include Thomson Plaza and Thomson V One.

Good investment potential

Whether purchasing for investment or residential living, securing a unit at JadeScape will make an excellent choice, as its location within the Bishan-Thomson area assures owners that the property can weather the ups and downs of the property market.

Smart home features, state of-the-art facilities, convenient amenities, luxurious comfort, coupled with the development’s central location makes JadeScape an ideal choice for both new homeowners and discerning investors.

credits: propertyguru

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Singapore Is 37th Most Liveable City In The World

Posted by Singapore Property Launch on 20th August 2018 in Blog
Singapore skyline

Singapore has fallen behind Hong Kong in global liveability.

Singapore has been ranked as the 37th most liveable city in the world in the Economist Intelligence Unit’s (EIU) Global Liveability Index, down two spots from its previous ranking.

The city-state was overtaken by Hong Kong by a marginal difference of 0.1 percent, as it settled in 35th place.

Hong Kong’s ranking fell significantly in 2015 due to heightened concerns of unrest as part of the Umbrella Revolution and was even surpassed by Singapore for the first time last year.

Despite the drop in its ranking, Singapore registered the highest possible score in the public healthcare category this year.

A part of the Worldwide Cost of Living Survey, EIU’s liveability rating assigns scores to 140 cities based on healthcare, stability, education, infrastructure as well as culture and environment, reported Channel NewsAsia.

Melbourne has been overtaken by Vienna for the first time in seven years as the world’s most liveable city.

“A long-running contender to the title, Vienna has succeeded in displacing Melbourne from the top spot due to increases in the Austrian capital’s stability category ratings,” said EIU, referring to one of the five headline components in the index.

Vienna’s low crime rate and a downgraded threat of militant attacks in western Europe helped push the city to first place.

“While in the past couple of years cities in Europe were affected by the spreading perceived threat of terrorism in the region, which caused heightened security measures, the past year has seen a return to normalcy.”

Osaka, Calgary and Sydney rounded off the top five list in the survey, while Bangladeshi capital Dhaka, Lagos in Nigeria and Syria’s Damascus occupy the last three spots.

credits: propertyguru

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Developers Slash Private Condo Prices By 5-10%

Posted by Singapore Property Launch on 16th August 2018 in Blog
UOL The Tre Ver crop

A crowd of buyers at the recent launch of The Tre Ver in Potong Pasir. (Photo: UOL Group)

Private condominiums launched before and after the introduction of new property curbs are trimming their unit prices by around 5.0 to 10 percent, reported TODAYonline.

“The price sweeteners are there to cushion the immediate impact of cooling measures and create an urgency to buy,” said Dr Tan Tee Khoon, executive director at Knight Frank.

For instance, Daintree Residence in Upper Bukit Timah reduced its average price by 5.0 percent from $1,800 psf to $1,710 psf. This is the first private residential project in Singapore to be rolled out after the new cooling measures took effect on 6 July

At The Tre Ver at Potong Pasir, units were sold at an average price of $1,550 psf during its launch on 4 August. This means condos there are 10 percent cheaper than those in the nearby Park Colonial, which sold units at an average price of $1,750 psf. Notably, the latter’s developer brought forward the project’s launch to the evening of 5 July before the new curbs took effect

Moreover, Affinity @ Serangoon in Yio Chu Kang is offering 5.0 percent and 7.0 percent discounts for its one-bedders and two-bedroom condos respectively. But this only applies to the next 20 units sold since July 12, while Martin Modern in River Valley is also giving out a 5.0 percent discount for select units taken-up since that date. Lastly, a $20,000 discount is available at Queenstown’s Margaret Ville.

Even though property developers have slashed prices at their private residential projects, Knight Frank’s Tan and Huttons Asia’s research head Lee Sze Teck both believe that units prices are unlikely to fall further in the coming months as construction and land costs are already locked in, with residential sites acquired at “unprecedented prices”.

credits: propertyguru

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PM Lee Praises Kampung Admiralty As “Model For Future Public Housing”

Posted by Singapore Property Launch on 12th August 2018 in Blog
Kampung Admiralty resize

Kampung Admiralty features housing for the elderly, a medical centre and childcare facilities. Source: HDB

Prime Minister Lee Hsien Loong lauded Kampung Admiralty as a “model for future public housing” during his National Day Message on Wednesday (8 Aug), reported Channel NewsAsia.

Located next to Admiralty MRT station, the 11-storey project in Woodlands features a medical centre, community garden, childcare centre, a supermarket and a hawker centre, as well as 104 HDB flats.

Nearly all units were sold when they were launched for sale by the Housing and Development Board (HDB) in July 2014. Almost half of the flats were taken-up under the Studio Apartment Priority Scheme (SAPS) and the Senior Priority Scheme (SPS), which prioritises providing housing to elderly residents who want to age in place and those who want to live near their parents or married children.

Touted as Singapore’s first integrated housing project for seniors, these units come with elder-friendly fittings like grab bars and non-slip tiles, as well as a retractable outdoor and indoor clothes drying system.

Moreover, PM Lee revealed that Kampung Admiralty is an example of what the authorities want to accomplish in terms of providing housing, education and healthcare to Singaporeans.

“When people express concern over the cost of living, these are three significant items they worry about,” he explained. Hence, the government ensures that the services it offers related to these three are not only of high quality but also affordable.

“This is how we’ve helped families to manage their cost of living, and given an extra hand to those who need it,” he noted, adding that this approach has worked well for over 50 years.

Furthermore, HDB will continue to develop other innovative housing concepts like Kampung Admiralty. For existing HDB estates, these will be maintained and enhanced.

“Though the leases still have many years to run, we should think ahead about how we can keep older estates in good living condition, and also start to redevelop them, in order to build new homes and towns for future generations,” PM Lee added.

credits: propertyguru

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Collective Sales Success Rate Down Despite Increased Activity

Posted by Singapore Property Launch on 10th August 2018 in Blog
Collective sales success rate down despite increased activity

Property developers in Singapore have become more selective with their acquisitions.

Despite the increased activity in the collective sales market, the success rate for en bloc sales has fallen significantly compared to 2016 and 2017 levels, reported Singapore Business Review citing Savills Asia.

This comes as developers have become more selective with their acquisitions even as more sites have been launched for sale.

“Developers’ buying interests have shifted to freehold sites in the high-end and mid-tier markets with a quantum of less than $500 million,” said Savills Asia senior director of research Alan Cheong.

Investment sales of residential sites and homes fell 14.5 percent quarter-on-quarter to $6.88 billion in Q2 2018, although they continued to make up the bulk of total sales at 65 percent. Of the 21 private residential sites sold during the quarter, 16 were transacted via en bloc sales.

Transaction values for such sites, however, continued to increase. Given the 18 sites sold in the first quarter, developers acquired a total of 34 en bloc sites at a total value of $9.84 billion. The figure exceeds the $8.24 billion spent in the whole of 2017 for 29 sites.

Meanwhile, Singapore emerged as one of three countries that registered double-digit growth in prime property prices, revealed Knight Frank’s latest Prime Global Cities Index.

The city-state was ranked second in the index as prime property prices rose 11.5 percent. Guangzhou topped the list with a 11.9 percent hike, while Madrid settled in third place with a 10.3 percent increase.

“High land bids by developers has translated into higher new-build values,” said Knight Frank’s international residential research partner Kate Everett-Allen.

The upward trend in prices was also seen in the Urban Redevelopment Authority’s data.

“Luxury prices in Singapore have rebounded strongly but recent stamp duty changes may [cause] impact,” she added.

The Singapore government introduced its latest round of property cooling measures, which included  higher Additional Buyer’s Stamp Duty (ABSD) and tighter lending rules in July to curb price inflation.

credits: propertyguru