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Rare home sold for nearly $1m

Posted by Singapore Property Launch on 16th June 2015 in Blog

Rare home sold for nearly 1m

Singapore’s residential resale market witnessed the sale of a rare “landed public home” last week for $958,000, revealed media reports.

Located in Jalan Bahagia in Whampoa, the two-storey, three-room terrace home comes under the HDB as it was built by its predecessor, the Singapore Improvement Trust. There are only 285 such units in Whampoa and Queenstown, with the terrace house among the largest to have changed hands recently.

The acquisition price translates to around $370 psf. In comparison, private landed terrace homes nearby went for over $2,200 psf this year.

“Nowadays, it’s very rare to be able to get any landed house for less than $1.5 million,” said Nicholas Mak, research head at SLP International Property Consultants. However, prices in excess of $1 million were recorded for new freehold and 99-year-leasehold private homes, he said.

The 241 sqm terrace house has under 60 years left on its lease, which started in 1972. Mak noted that buyers of such properties may also have to consider renovation costs, given their age. Nonetheless, HDB terrace homes are much sought after once they enter the market. In March, a 280 sqm terrace house in Jalan Ma’mor, also in Whampoa, was sold for $1.06 million ($350 psf).

The two properties are among five HDB terrace homes to have changed hands this year. An 85 sqm unit was sold for $760,000 in January, a 104 sqm unit went for $875,000 in February, and an 81 sqm unit fetched $708,000 in March.

credits: propertyguru

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For sale: World’s priciest apartment

Posted by Singapore Property Launch on 12th June 2015 in Blog
For sale - World priciest apartment

Image: One Hyde Park. (top10facts.com)

A five-bedroom apartment in London’s One Hyde Park has been put on the market for a whopping £75 million, making it the world’s most expensive apartment to go on sale, revealed media reports.

Described as one of London’s best apartments, the property boasts stunning views of Knightsbridge and Hyde Park.

The unit’s living and entertainment spaces are located on the “park wing”, while the five-bedroom suites are found on the “city wing”.

Aside from paying a hefty price, the buyer of the property will have to pay an additional £9 million in stamp duty.

Nonetheless, the eventual buyer is poised to become the proud owner of the entire floor of One Hyde Park’s pavilion C.

A Nick Candy development, One Hyde Park is a notoriously private development. In fact, Savills agents refuse to discuss the property. However, independent buying agent Henry Pryor described it as a “trophy home” that will be purchased by someone who is unlikely to care about the price.

“These are people who buy property just as they buy cars or watches – it’s about a statement and not absolute value,” he said.

“A Fiat Cinquecento will get you to Waitrose in Motcomb Street in Belgravia as fast as a Ferrari and probably be easier to park when you get there but this is as much about status as it is about practical living.”

“So long as London remains one of the addresses that the rich and famous want to include on their note paper they don’t really care what they pay,” he added.

credits: propertyguru

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Landed home sales bounce back

Posted by Singapore Property Launch on 5th June 2015 in Blog

Landed home sales bounce back

More landed homes were sold between January and April 2015 as prices dropped substantially from their record high, media reports said.

Based on government data, 316 landed homes were picked up by buyers during the said period, translating to a year-on-year increase of 15.3 percent. Prices in the first quarter also fell 7.2 percent from their peak in Q3 2013.

One of the major landed deals in the first four months of this year involved the sale of a furnished bungalow in Bishopsgate for a record price of $33 million or $2,190 psf in April.

“Supply of landed properties in prime areas is limited, and buyers may be trying to get some good deals as developers may have to sell to avoid Qualifying Certificate penalties,” said Singapore Christie’s Homes managing director Samuel Eyo.

Another reason why landed home sales have risen significantly is the likelihood that the Additional Buyer’s Stamp Duty (ABSD) for second-time purchasers will be revised later this year, noted William Wong, managing director of Realstar Premier Group.

Given this sentiment, many developers are acquiring sites for redevelopment – usually old bungalows – in anticipation that the market will heat up again once the houses are completed. These include sites at Oriole Crescent, Robin Road and Hillcrest Road.

“This year should be a good year for the landed housing market,” added Wong.

Douglas Wong, CBRE’s head of luxury homes also noticed that activity in the good class bungalow segment has picked up as well.

credits: propertyguru

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Jurong EC sales healthy

Posted by Singapore Property Launch on 3rd June 2015 in Blog

Westwood Residences EC perspective 17 Westwood Residences EC perspective 18

The Westwood Residences executive condominium (EC) in Jurong West sold around 120 units during its first day of booking last Saturday, media reports said.

Developers of the EC along Westwood Avenue received some 500 applications to book units during the last two weeks.

Prices at the 480-unit project range from $620,000 for a two-bedroom to $1.1 million for a five-bedder.

This works out to an average price of about $738 psf, or slightly lower than the indicative price of $800 psf announced earlier, said the developers.

Westwood Residences is the first EC to be affected by changes to the resale levy rules, which now applies to EC buyers who previously acquired HDB flats or ECs.

Except for Lake Life EC in Jurong, which was 98 percent sold, sales at other EC projects have been slow.

In fact, four projects that were launched since November 2014 still have over 200 unsold units each as at April, revealed URA data.

credtis: propertyguru

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Where are buyers searching

Posted by Singapore Property Launch on 30th May 2015 in Blog

Where are buyers searching

As part of plans to keep our readers better informed of what’s ‘hot’ in the property market, we provide an update of the most searched properties from the PropertyGuru website in the past week, as well as popular buying locations in Singapore.

The most searched private condominium project was The Interlace, which overtakes Sky Habitat which had topped the list previously for two weeks straight. The 99-year leasehold condo at Depot Road in District 3 is already completed. A Credit Suisse report in May noted that seven apartments were sold at the project in Q1 2015, but there are still 162 unsold units.

The 480-unit Westwood Residences at Jurong West in District 22 remains as the top searched executive condominium (EC) for sale. The project’s popularity could be attributed to its bicycle theme, which differentiates it from other condos and ECs.

The Jurong area has also been attracting a lot of attention with recent news of positive developments such as the future Singapore-Kuala Lumpur high speed rail terminus being built on the current site of Jurong Country Club.

Meanwhile, Sengkang (D19) is still the most searched HDB estate for sale and is now considered a self-contained estate. Residents are within walking distance to several shopping malls and neighbourhood schools.

The full list of the Top 5 searched condos, ECs and HDB estates for sale on PropertyGuru.com.sg appears below.

Happy house hunting!

 

Top 5 condos for sale

1. The Interlace @ Depot Road
2. Sky Habitat @ Bishan
3. The Panorama @ Ang Mo Kio Ave 2
4. Botanique at Bartley
5. Kingsford Waterbay @ Upper Serangoon View

 

Top 5 ECs for sale

1. Westwood Residences @ Jurong West
2. Bellewoods @ Woodlands
3. Bellewaters @ Anchorvale
4. Skypark Residences
5. Sea Horizon

 

Top 5 HDB estates for sale

1. Sengkang
2. Jurong West
3. Woodlands
4. Tampines
5. Hougang

 

credits: propertyguru

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HDB releases 9,431 flats in largest launch exercise

Posted by Singapore Property Launch on 27th May 2015 in Blog

HDB releases 9431 flats in largest launch exercise1

The Housing and Development Board (HDB) has launched 9,431 new flats for sale in 24 HDB towns under the May 2015 joint Build-to-Order (BTO) cum Sale of Balance Flats (SBF) exercise.

This is HDB’s largest BTO/SBF exercise to date and comprises 4,044 BTO flats across four projects in Punggol, Sembawang, Clementi and Tampines. These include the first homes in Punggol’s new Northshore district offering smart technologies.

With housing grants, the selling prices of the two- to five-room BTO flats range between $15,000 and $354,000. Eligible first-timer families are entitled to an Additional CPF Housing Grant (AHG) of up to $40,000 and the Special CPF Housing Grant (SHG) of up to $20,000.

Notably, up to 50 percent of two-room BTO flats in the non-mature estates will be set aside for singles, up from 30 percent previously. The changes were announced by National Development Minister Khaw Boon Wan during the Committee of Supply 2015 debate, and the higher quota is expected to reduce the demand backlog among singles.

Meanwhile, the 5,387 balance flats will be reserved for families and range from studio apartments to five-room flats, as well as some 3Gen and executive flats.

Applicants can apply for a flat online at HDB InfoWEB from today until 2 June 2015.

The next BTO launch will take place in August whereby HDB will offer 4,860 flats in Bidadari and Punggol Northshore.

credits: propertyguru