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Housing loan growth drops to seven-year low

Posted by Singapore Property Launch on 3rd December 2014 in Blog

Housing loan growth drops to seven-year low

 

Housing loans in Singapore grew at 6.4 percent year-on-year in October – or its slowest pace in seven years – on the back of a weak property market as well as a higher base, said Maybank Kim Eng and reported in the media.

“Industry domestic banking unit (DBU) loans grew nine percent year-on-year in October, down from 10.6 percent a month earlier. Business and consumer loans grew at their slowest pace in four and seven years respectively. The former’s slowdown was led by lending to general commerce (+12.3 percent year-on-year), transport, storage & communication (+13.5 percent) and financial institutions (+15.4 percent),” it said.

“The latter’s deceleration came about as property-market sentiment remained poor. But as we had toned down our loan-growth expectations after Q3 2014 results, especially for DBS, there is no need to revise numbers just yet.”

Looking ahead, Maybank Kim Eng does not expect 2015 to be any better as demand will mainly come from drawdowns for newly completed houses sold in 2012 to 2013.

“As Singapore deposits grew just 0.2 percent month-on-month and 1.5 percent year-on-year, Singapore loan-to-deposit ratio (LDR) may not stir next year. This is because loan growth could decelerate further. Deposits may not grow strongly as holding cash remains unappealing amid low interest rates. October’s SGD LDR was 86.4 percent,” it added.

With this, Maybank Kim Eng expects loan growth to average nine percent in 2015.

“On the domestic front, home loans should expand just four to six percent, without a property-market revival. However, we believe their slack will be taken up by better business loan growth of 10 to 12 percent.”

credits: propertyguru

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New condo to inject life into Sims Drive

Posted by Singapore Property Launch on 3rd December 2014 in Blog
New condo to inject life into Sims Drive

Image: Guccoland

With Sims Drive undergoing progressive transformation, property developer GuocoLand has announced it will be developing the first prime private residential development in the area.

Located at the junction of Sims Drive and Aljunied Road on the city-fringe, the 99-year leasehold Sims Urban Oasis will comprise eight blocks of 1,024 units catering to singles, young couples and those with large families.

These include compact suites of one- to three-bedrooms focusing on ergonomics and functionality, SOHO units designed for flexible work life balance, lifestyle apartments offering premium finishing, and deluxe units of three- to five-bedders catering to multi-generation families with an option of dual-key function.

Prices of the units will only be released at a later date. But a check on URA caveats data of completed apartments revealed that a 99-year leasehold unit at nearby Sims Green measuring 1,249 sq ft was moved in March this year for $1.13 million, translating to a psf price of $905.

Before developing the 2.4ha land parcel, GuocoLand led consumer focus group interviews with potential buyers and residents in the area to get their insights for creating the spaces.

Aside from the standard condo facilities like swimming pools, a gym, tennis court and 500-metre jogging track, the project will also house a convenience store, cafes, and a child-care centre.

Cheng Hsing Yao, Managing Director of GuocoLand Singapore, believes the project is in an excellent location.

“On the one hand, it is very convenient; just a short drive to the CBD and a short walk to the Aljunied MRT station. On the other hand, it is located along a quiet and charming street. The nearby Singapore Sports Hub, Paya Lebar Sub-Regional Centre, James Cook University and many other new developments will create more jobs, attractions and demand for good quality housing in the area. Sims Urban Oasis caters to this demand, and Sims Drive, in time, can become a highly sought-after residential address,” he shared.

Early mover businesses and entrepreneurs have already set up new hip cafes, restaurants, fitness and activity centres in the area tapping on the growing number of residents and expatriates.

Sims Urban Oasis is expected to launch in the first or second quarter of 2015 while the legal completion is by 2023.

 

credits: propertyguru

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Upper Serangoon Road site received 11 bids

Posted by Singapore Property Launch on 28th November 2014 in Blog
Upper Serangoon Road site received 11 bids

image: URA

The tender for a residential with first-storey commercial site at Upper Serangoon Road received 11 bids yesterday.

Asset Legend Limited submitted the highest bid of $276.8 million, while the second highest bid was SL Capital Ventures at $240 million.

Offered for sale on a 99-year lease, the land parcel is easily accessible via major roads, expressways and Kovan MRT station.

According to media reports, the parcel is the first Government Land Sales (GLS) site that has to meet the new construction requirements introduced by the Building and Construction Authority (BCA) to improve productivity within the sector.

The Urban Redevelopment Authority (URA) will announce the tender award at a later date.

credtis: propertyguru

 

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City-state is 4th best place to work

Posted by Singapore Property Launch on 22nd November 2014 in Blog
City-state is 4th best place to work

image: URA

Singapore has been ranked as the fourth best city in the world to work by global business talent in a survey conducted by Insead, the world’s largest graduate business school.

The United Arab Emirates’ most cosmopolitan city, Dubai, was identified as the most attractive city in the world to live in in terms of professional and private life, according to the Insead Alumni survey.

The news supports the findings of the 2013 Global Talent Competitiveness Index (GTCI), created by Insead, in partnership with Singapore’s Human Capital Leadership Institute and Adecco, which ranked the UAE ahead of other oil-based economies in the Gulf and the Middle East region for attracting and retaining talent, and 19th globally.

The new study, undertaken for the first time by the Insead Alumni Association France, has recorded and assessed the responses of 835 Insead Alumni with international working experience.

It assessed four all-encompassing factors drawn from 30 criteria dealing with professional and private life: economic dynamism (quality of labour, access to funding, etc.), quality of life (sports and cultural facilities, air quality, etc.), cost of living (real estate, dining and entertainment, etc.), and finally, the overall attractiveness of the city (young talent, access to technology, etc.)

Among 15 of the world’s prominent cities, Dubai topped the list for the best place to work, ahead of Amsterdam (2nd), Toronto (3rd), and Singapore (4th), ranking first in economic dynamism, third in overall attractiveness, and receiving the fourth place in quality of life and cost of living.

Miguel Lobo, Associate Professor of Decision Sciences and Director of Insead Campus Abu Dhabi said: “To some it might come as a surprise that Dubai has been ranked as the best place to work globally by the Insead Alumni Association, but for Insead in the region this is not a revelation.

“Today’s business leaders and key decision-makers recognise the dynamism of this country, which leads many to choose to live, work and actively immerse themselves in the regional business landscape.”

Singapore is regularly ranked highly in surveys looking at the best global cities to live and work, as well as for its cost of living.

credits: propertyguru

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Government sets quota to help families live near each other

Posted by Singapore Property Launch on 22nd November 2014 in Blog

Gov't sets quota to help families live near each other

HDB will tweak the Married Child Priority Scheme (MCPS) from this month’s Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercises.

MCPS will now be a quota-based priority scheme to offer eligible applicants higher chances of getting a flat. Previously, families who wish to live with or near each other are granted extra ballot chances for their new flat application.

Now, up to 30 percent of the flat supply will be reserved for MCPS first-timer families and up to 15 percent for second-timer families.

Under the enhanced MCPS, first priority will be extended to parents and married children who apply for a flat to live in together. Parents who give up their flat in a mature estate to move into a BTO flat near to their married child in a non-mature estate will also benefit as a first priority.

HDB will offer about 4,277 BTO flats in Sembawang, Sengkang, Tampines and Yishun in November. A concurrent Sale of Balance Flats (SBF) exercise will releasr an additional 3,000 flats.

MCPS applicants make up about one quarter of flat bookings at each exercise, HDB said in a statement.

credits: propertyguru

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5 major upcoming launches

Posted by Singapore Property Launch on 20th November 2014 in Blog
Marine Blue perspective 6

Marine Blue perspective

Several new private residential projects could launch in the next six months, revealed Savills Research.

They will be located in the Core Central Region (CCR) and Rest of Central Region (RCR). Notably, there are no major projects planned for the Outside Central Region (OCR) in the near future.

Although no official launch dates have been set, developers are expected to step up their launches ahead of the year-end festive season and school holiday lull period, according to Chia Siew Chuin, Research Head at Colliers International.

She noted that despite the soft market conditions, there is still demand for well-located projects in areas with growth potential. Pricing will also be a determining factor in moving sales.

Here’s a sneak peek at the five upcoming launches – Marine Blue, Pollen & Bleu, Sophia Hills, South Beach Residences and Victoria Park Villas.

 

1. Marine Blue (RCR)
Developer: CapitaLand
Tenure: Freehold
Location: Marine Parade Road (D15)
Nearest MRT station: Eunos
Estimated no. of units: 124

 

2. Pollen & Bleu (CCR)
Developer: SingLand
Tenure: 99-year leasehold
Location: Farrer Drive (D10)
Nearest MRT station: Farrer Road
Estimated no. of units: 106

 

3. Sophia Hills (CCR)
Developer: Hoi Hup Sunway
Tenure: 99-year leasehold
Location: Mount Sophia (D9)
Nearest MRT station: Dhoby Ghaut
Estimated no. of units: 493

 

4. South Beach Residences (CCR)
Developer: CDL and IOI Corporation
Tenure: 99-year leasehold
Location: Beach Road (D7)
Nearest MRT station: Esplanade
Estimated no. of units: 190

 

5. Victoria Park Villas (CCR)
Developer: CapitaLand
Tenure: 99-year leasehold
Location: Coronation Road (D10)
Nearest MRT station: Tan Kah Kee (future)
Estimated no. of units: 109

credits: propertyguru