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Where are buyers searching?

Posted by Singapore Property Launch on 23rd August 2015 in Blog

The Vales Gym


Image: Sengkang new EC, The Vales


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 newly launched High Park Residences was the most searched for private condominium by prospective buyers. Located in Sengkang, the 99-year leasehold project is jointly developed by CEL Development and Unique Residence, and saw the most sales by a developer last month with 1,169 units sold at a median price of $989 psf.

As for executive condominiums (ECs) which have seen renewed activity in recent weeks, Sol Acres by MCL Land topped the list. The 1,327 unit EC project in Choa Chu Kang is expected to open for booking very soon.

Meanwhile, Tampines has replaced Queenstown as the most sought-after HDB estate. Aside from being the largest residential town in Singapore, it is considered a regional centre with a slew of nearby amenities. These include three main shopping malls, numerous schools and the Tampines MRT station. Plans are in place for another two stations to be completed by 2017.

A full list of the Top 5 searched condos, ECs and HDB estates for sale on appears below.

Happy house hunting!

Top 5 condos for sale

1. High Park Residences
2. The Interlace
3. d’Leedon
4. Bedok Residences
5. The Bayshore

Top 5 ECs for sale

1. Sol Acres
2. The Brownstone
3. Westwood Residences
4. The Vales
5. Skypark Residences

Top 5 HDB estates for sale

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

credits: propertyguru


Cooling measures paid off: Khaw

Posted by Singapore Property Launch on 17th August 2015 in Blog

Cooling measures paid off- Khaw

National Development Minister Khaw Boon Wan has expressed relief that the property curbs introduced by the government have managed to cool the once overheated housing market – which was a big issue during the 2011 general election, reported The Straits Times.

“What I shared at my first meeting with my MND (Ministry of National Development) colleagues was, let us try hard to achieve a soft landing of the housing market within four years,” he said at an event last Friday to introduce the People’s Action Party’s election line-up for Sembawang GRC.

“Two years ago when prices began to peak and then began to come down, believe me, I was one of the most relieved.”

Mr Khaw had taken on the difficult portfolio following the last election. Over the past few years, the government has introduced various measures to cool the property market, which includes the ABSD levy and loan curbs.

The supply of new HDB flats was also ramped up in recent years.

However, Mr Khaw said the government will continue to watch the situation and external conditions since a soft landing “may suddenly become a hard landing”.

A different housing election issue may also crop up.

When asked if the defects at some Design, Build and Sell Scheme (DBSS) flats, such as at Centrale 8 in Tampines and Trivellis in Clementi, may become an issue in the coming election, Mr Khaw replied that the defects issue is a perennial one.

While recent complaints may give the impression of deteriorating housing quality, that is not actually the case, he said.

In fact, the housing board’s average score under the Construction Quality Assessment System had been improving. Last year, it hovered near 90, outperforming some private homes constructed by property developers.

He highlighted that the government will continue to help homeowners even if they live in flats built by private developers.

“What is important is that builders and contractors are responsible, and fix areas that are unsatisfactory… You don’t have to worry – as long as your demand is reasonable, we will help you.”

credits: propertyguru


West Coast site awarded to EL Development

Posted by Singapore Property Launch on 15th August 2015 in Blog

West Coast site awarded to EL Development

A residential site at West Coast Vale has been awarded to EL Development, after the company submitted the highest bid of $314.1 million in the tender exercise, said the Urban Redevelopment Authority (URA) on Thursday.

EL Development beat out five other developers for the 99-year leasehold site.

Launched for sale on 18 June this year, the 203,532 sq ft land parcel located along the waterfront of Sungei Pandan has a maximum gross floor area of 569,895 sq ft and could yield about 595 units.

The site is close to schools and major road networks like the West Coast Highway and Ayer Rajah Expressway (AYE). Shopping malls such as Westgate, JCube and JEM at the Jurong Lake District are a short drive away.

credits: propertyguru


Free rides to mark opening of Downtown Line 2

Posted by Singapore Property Launch on 12th August 2015 in Blog

Free rides to mark opening of Downtown Line 2

On that day, the authorities will open 12 stations along the route – Bukit Panjang, Cashew, Hillview, Beauty World, King Albert Park, Sixth Avenue, Tan Kah Kee, Botanic Gardens, Stevens, Newton, Little India and Rochor.

To celebrate the opening, commuters will get to enjoy free train rides on the entire Downtown Line for a limited time only, reported Channel NewsAsia.

“When opened, rides will be free on DTL1 and DTL2 for a short period of time to encourage commuters to try out the new line and familiarize themselves with the stations,” said Mr Lui, who had earlier announced that train fares would be cut by up to 1.9 percent to commemorate the occasion.

By the time DTL2 starts operating, the total number of train stations on Singapore’s rail network would have risen to 157 from just 117 in 2010. “With this, we would have added 40 new stations or grown our rail network by 34 percent. Six in 10 households will be within a 10-minute walk to a station,” he added.

Meanwhile, the construction of Downtown Line 3 is still ongoing with completion targeted by 2017. The 21 km rail line will feature 16 stations from Fort Canning to the Singapore Expo.

Image: Map of Downtown Line Stage 2.

credits; propertyguru


Quality of HDB flats now better

Posted by Singapore Property Launch on 11th August 2015 in Blog

Quality of HDB flats now better

Assessors from the Building and Construction Authority (BCA) will conduct inspections on a new public housing unit – checking the quality, workmanship and whether it is safe to live in – before keys to the apartment are presented to the homeowners, reported The Straits Times.

The checks will be scored under the Construction Quality Assessment System (Conquas), reflecting the unit’s overall workmanship quality. As such, a higher score implies better workmanship.

Aside from structural works, the Conquas score also takes into account electrical and mechanical works.

Despite recent reports of defects found in several new Build-to-Order (BTO) flats, the housing board revealed that the Conquas score for HDB flats has been steadily increasing.

In fact, the average HDB Conquas score improved from 65.7 in 1989 to 88.6 in 2014. Notably, public housing projects have been registering a Conquas score of more than 81 since 2008.

A spokesperson for the Ministry of National Development (MND) attributed the higher score to “a robust framework of quality assurance and checks that HDB has put in place”.

But due to the “high dependency on workmanship of individual workers”, imperfections may still be found in some units.

Latent defects as well as defects like hairline cracks may also be discovered at a later date due to movement like renovation works and vibrations, said the spokesperson.

“For these reasons, a one-year Defect Liability Period is provided for all projects, to allow for rectification if necessary,” she said.

She noted that common feedback includes colour inconsistency for timber flooring, uneven joints or gaps between tiles and hairline wall cracks.

“These do not affect the structural integrity of the building, and can be rectified easily and quickly. (They) do not compromise the functionality or livability of these homes,” she added.

“The high Conquas score is an affirmation that the quality of HDB flats has not been compromised despite the ramp-up of our building programme in the last few years.”

credits: propertyguru


Koh Brothers revenue rises to $222 million

Posted by Singapore Property Launch on 7th August 2015 in Blog

Westwood Residences EC Site Plan 1

Koh Brothers Group, an established construction and property development firm, posted a revenue increase of five percent to $222 million for the six months ended 30 June 2015.

Group profit after tax dipped slightly to $15.3 million compared to a year ago.

In a statement, the group acknowledged ongoing challenges in the Singapore property market.

Recent flash estimates released by the Urban Redevelopment Authority (URA) show that prices of private residential properties were down 0.9 percent in Q2 2015 from the previous quarter, marking the seventh consecutive quarter of decline.

Despite the challenging operating environment, Koh Brothers Managing Director and Group CEO Francis Koh said: “We are encouraged by the response to our latest Westwood Residences executive condominium project and will continue to drive sales. We believe its unique positioning, strategic location and attractive price will continue to resonate with home buyers. Meanwhile, we seek to prudently participate in land tenders where we can demonstrate our expertise in launching strategically-located developments with differentiating features.”

credits: propetyguru