Mercs: property news & updates

[Mercs]

https://www.channelnewsasia.com/news/singapore/government-sites-for-sale-first-half-2021-13690198

Government maintains 'moderate supply' of land for private housing; new sites at one-north, Tampines Street 62

 

https://www.edgeprop.sg/property-news/1h2021-gls-programme-introduces-two-residential-sites-confirmed-list

1H2021 GLS programme introduces two residential sites to the Confirmed List

 

Possibility of an en bloc cycle in 2021

The uncompleted unsold units have been declining since 1Q2019. The recent GLS land tender for land too saw a large number of bidders and the en-bloc market has also witnessed two collective sales in the span of two weeks.”

“What is noteworthy is that the current unsold inventory continues to fall and currently it stands at 26,600 units as at Q3 2020. The start of the previous en bloc cycle was in 2Q 2016 when inventory fell to 23,000 units. Should the unsold inventory continue to fall, a possible return of the en bloc cycle can follow.”

 

https://www.businesstimes.com.sg/real-estate/hdb-lottery-conundrum-analysts-weigh-in-on-ways-to-mitigate-it

HDB 'lottery' conundrum: analysts weigh in on ways to mitigate it

(Shorter leases, longer MOP, resale buyer income cap, sell-back to HDB are some measures suggested; no simple answer to complex issue)

 

https://www.propertyguru.com.sg/property-management-news/2020/12/195026/analysts-suggest-various-measures-to-mitigate-lottery-effect-of-well-located-hdb-flats

Analysts Suggest Various Measures To Mitigate “Lottery Effect” Of Well-Located HDB Flats

 

https://www.channelnewsasia.com/news/advertorial/parc-central-residences-first-executive-condominium-launch-in-13583536

Parc Central Residences: First executive condominium launch in the east since 2012

 

https://www.asiaone.com/money/15-holland-hill-review-huge-units-lovely-garden-falls-short-carpark

15 Holland Hill review: Huge units, lovely garden but falls short on carpark

[Mercs]

 

 

 

 

 

Edited December 3, 2020 by Mercs

[PropSG]

https://www.theedgesingapore.com/news/labour-market/effects-covid-19-singapores-workforce-varied-across-sectors-and-ages-pace?utm_source=mycarforum&utm_medium=&utm_campaign=forumposting

Effects of Covid-19 on Singapore's workforce varied across sectors and ages; pace of increase in unemployment rate slowed in October

[PropSG]

https://www.edgeprop.sg/property-news/taronga-ventures-partners-singapore’s-smart-urban-co-innovation-lab-led-capitaland?utm_source=mycarforum&utm_medium=&utm_campaign=forumposting

Taronga Ventures partners with Singapore’s Smart Urban Co-Innovation Lab led by Capitaland

[Spring]

15 hours ago, Mercs said:

https://www.channelnewsasia.com/news/singapore/government-sites-for-sale-first-half-2021-13690198

Government maintains 'moderate supply' of land for private housing; new sites at one-north, Tampines Street 62

 

https://www.edgeprop.sg/property-news/1h2021-gls-programme-introduces-two-residential-sites-confirmed-list

1H2021 GLS programme introduces two residential sites to the Confirmed List

 

Possibility of an en bloc cycle in 2021

The uncompleted unsold units have been declining since 1Q2019. The recent GLS land tender for land too saw a large number of bidders and the en-bloc market has also witnessed two collective sales in the span of two weeks.”

“What is noteworthy is that the current unsold inventory continues to fall and currently it stands at 26,600 units as at Q3 2020. The start of the previous en bloc cycle was in 2Q 2016 when inventory fell to 23,000 units. Should the unsold inventory continue to fall, a possible return of the en bloc cycle can follow.”

 

https://www.businesstimes.com.sg/real-estate/hdb-lottery-conundrum-analysts-weigh-in-on-ways-to-mitigate-it

HDB 'lottery' conundrum: analysts weigh in on ways to mitigate it

(Shorter leases, longer MOP, resale buyer income cap, sell-back to HDB are some measures suggested; no simple answer to complex issue)

 

https://www.propertyguru.com.sg/property-management-news/2020/12/195026/analysts-suggest-various-measures-to-mitigate-lottery-effect-of-well-located-hdb-flats

Analysts Suggest Various Measures To Mitigate “Lottery Effect” Of Well-Located HDB Flats

 

https://www.channelnewsasia.com/news/advertorial/parc-central-residences-first-executive-condominium-launch-in-13583536

Parc Central Residences: First executive condominium launch in the east since 2012

 

https://www.asiaone.com/money/15-holland-hill-review-huge-units-lovely-garden-falls-short-carpark

15 Holland Hill review: Huge units, lovely garden but falls short on carpark

I thought the Dunman Road site which I believe is opposite the old 1SIR camp has already been sold?

[Mercs]

8 hours ago, Spring said:

I thought the Dunman Road site which I believe is opposite the old 1SIR camp has already been sold?

Currently under reserve list - https://www.ura.gov.sg/Corporate/Land-Sales/Sites-For-Application/dunman-road

https://www.ura.gov.sg/Corporate/Land-Sales/Current-URA-GLS-Sites

[Mercs]

https://sbr.com.sg/residential-property/news/singapore-maintains-caution-in-new-gls-announcement

Singapore maintains caution in new GLS announcement

(Supply of private residential units moderated due to economic uncertainties).

 

https://www.businesstimes.com.sg/real-estate/calibrated-gls-falling-condo-inventory-could-revive-en-bloc-market-analysts

'Calibrated' GLS, falling condo inventory could revive en bloc market: analysts

(The "conservative" and "calibrated" release of residential supply under the first-half 2021 GLS programme is likely to revive interest in the en bloc market)

 

https://www.99.co/blog/singapore/ura-unveils-red-hot-condo-sites-at-buona-vista-for-2021/

URA unveils red-hot condo sites at Buona Vista for 2021

https://www.99.co/blog/singapore/how-i-rented-out-my-hdb-flat-moved-overseas-and-saved-8000-a-month/

How I Rented Out My HDB Flat, Moved Overseas, and Saved $7,800 a Month

 

https://www.edgeprop.sg/property-news/good-class-bungalow-jervois-hill-market-378-mil

Good Class Bungalow at Jervois Hill on the market for $37.8 mil

 

https://www.edgeprop.sg/property-news/corner-terraced-house-telok-kurau-sale-518-mil

Corner terraced house in Telok Kurau for sale at $5.18 mil

 

https://www.edgeprop.sg/property-news/unit-pandan-valley-sold-162-mil-profit

Unit at Pandan Valley sold for $1.62 mil profit

 

https://www.asiaone.com/money/ki-residences-review-unblocked-views-privacy-you-need-car-now

Ki Residences review: Unblocked views, privacy, but you need a car (for now)

 

https://www.edgeprop.sg/property-news/uol-group-unveils-next-gen-homes-clavon

UOL Group unveils next-gen homes at Clavon

https://www.edgeprop.sg/property-news/residential-transactions-contracts-dated-nov-17-nov-24-done-deals

Residential transactions with contracts dated Nov 17 to Nov 24 [DONE DEALS]

[Spring]

2 hours ago, Mercs said:

Currently under reserve list - https://www.ura.gov.sg/Corporate/Land-Sales/Sites-For-Application/dunman-road

https://www.ura.gov.sg/Corporate/Land-Sales/Current-URA-GLS-Sites

Yes this the piece of land. For some reason, I thought it was sold off already. Saw the some signboard put up last year I think. Used to be Northlight school premises but pulled down few years back. 

[13177]

11 hours ago, Spring said:

I thought the Dunman Road site which I believe is opposite the old 1SIR camp has already been sold?

Speaking of the old 1SIR camp, how come the camp is not demolished and left there for decade? That piece of land like that wasted for so long for not redeveloping.

[Newbie26]

3 hours ago, Mercs said:

https://sbr.com.sg/residential-property/news/singapore-maintains-caution-in-new-gls-announcement

Singapore maintains caution in new GLS announcement

(Supply of private residential units moderated due to economic uncertainties).

 

https://www.businesstimes.com.sg/real-estate/calibrated-gls-falling-condo-inventory-could-revive-en-bloc-market-analysts

'Calibrated' GLS, falling condo inventory could revive en bloc market: analysts

(The "conservative" and "calibrated" release of residential supply under the first-half 2021 GLS programme is likely to revive interest in the en bloc market)

 

https://www.99.co/blog/singapore/ura-unveils-red-hot-condo-sites-at-buona-vista-for-2021/

URA unveils red-hot condo sites at Buona Vista for 2021

https://www.99.co/blog/singapore/how-i-rented-out-my-hdb-flat-moved-overseas-and-saved-8000-a-month/

How I Rented Out My HDB Flat, Moved Overseas, and Saved $7,800 a Month

 

https://www.edgeprop.sg/property-news/good-class-bungalow-jervois-hill-market-378-mil

Good Class Bungalow at Jervois Hill on the market for $37.8 mil

 

https://www.edgeprop.sg/property-news/corner-terraced-house-telok-kurau-sale-518-mil

Corner terraced house in Telok Kurau for sale at $5.18 mil

 

https://www.edgeprop.sg/property-news/unit-pandan-valley-sold-162-mil-profit

Unit at Pandan Valley sold for $1.62 mil profit

 

https://www.asiaone.com/money/ki-residences-review-unblocked-views-privacy-you-need-car-now

Ki Residences review: Unblocked views, privacy, but you need a car (for now)

 

https://www.edgeprop.sg/property-news/uol-group-unveils-next-gen-homes-clavon

UOL Group unveils next-gen homes at Clavon

https://www.edgeprop.sg/property-news/residential-transactions-contracts-dated-nov-17-nov-24-done-deals

Residential transactions with contracts dated Nov 17 to Nov 24 [DONE DEALS]

 

How come keppel reflections, with its iconic structure frequently lands up in top losses list?

some more decent pfs 1500-1600pfs

RCR already reached 2000-2500pfs

 

On 12/1/2020 at 12:58 AM, Mercs said:

https://www.businesstimes.com.sg/real-estate/hdb-to-build-diverse-flat-types-keep-prices-affordable-in-prime-locations

HDB to build diverse flat types, keep prices affordable in prime locations

 

https://www.propertyguru.com.sg/property-guides/hudc-flat-singapore-37683

HUDC Flats in Singapore: The "OG" Public Housing For Our Sandwich Class

https://www.propertyguru.com.sg/property-guides/property-annual-value-calculate-check-iras-32661

Property Annual Value: What Is It And How Do You Check Yours?

 

 😛 last house standing 

https://www.99.co/blog/singapore/owners-of-geylang-terraces-refuse-to-sell-to-condo-developer-becomes-up-in-real-life/

Owners of Geylang terraces refuse to sell to condo developer, becomes ‘Up’ in real life



 

https://cnaluxury.channelnewsasia.com/obsessions/singapore-s-property-market-is-drawing-expats-from-hong-kong-13650654

Singapore’s property market is drawing expats from Hong Kong

https://www.channelnewsasia.com/news/commentary/property-market-home-sales-ura-purchase-cooling-measures-covid-13651248

Commentary: Concerned about what fall in private home sales mean? Market fundamentals paint a different story

 

We highlighted this earlier

Interesting comparing with Up movie

Full credit to the condo designers and architects, they should be lauded for embedding the houses within the condo

Win win for everyone in the end  

[Mercs]

1 hour ago, Spring said:

Yes this the piece of land. For some reason, I thought it was sold off already. Saw the some signboard put up last year I think. Used to be Northlight school premises but pulled down few years back. 

Only for the big boys developer ... 'no 1B no talk' 😛

https://www.edgeprop.sg/property-news/new-mixed-use-gls-site-one-north-launched-tender

June 27, 2019 

Two reserve List sites open

At the same time, two land parcels under the 1H2019 GLS reserve list are open for tender. Located at Hillview Rise and Dunman Road respectively, both are residential sites.

The Dunman Road site is beside Dakota MRT Station on the Circle Line. It is the “most attractive” site on the current reserve list, given its proximity to the MRT station, unblocked views of East Coast, proximity to the CBD, as well as good schools and the Singapore Sports Hub.

But a concern for developers could be its relatively large land size of 271,624 sq ft that can accommodate 1,040 buildable units. “We expect this site to appeal to larger developers or joint ventures and could attract a top bid of $1.1 billion, or $1,160 psf ppr – this could pave the way for a new benchmark pricing for the area,”

[Mercs]

5 minutes ago, Newbie26 said:

 

How come keppel reflections, with its iconic structure frequently lands up in top losses list?

some more decent pfs 1500-1600pfs

RCR already reached 2000-2500pfs

 

Bad feng shui? 😛 On a more serious note ... one is entry psf, the other is quantum 😉

https://www.squarefoot.com.sg/trends-and-analysis/residential?p=reflections-at-keppel-bay

INDICATIVE PRICE RANGE / AVERAGE* S$ 1,339 - S$ 2,039 PSF / S$ 1,582 PSF

INDICATIVE RENTAL RANGE / AVERAGE* S$ 2.94 - S$ 5.60 PSF PM / S$ 4.10 PSF PM

IMPLIED RENTAL YIELD 3.11%

HISTORICAL HIGH S$ 3,256 PSF IN NOV 2011 FOR A 3,380-SQFT UNIT

INDICATIVE AVERAGE PRICE FROM HISTORICAL HIGH (-51.4%)

HISTORICAL LOW S$ 329 PSF IN SEP 2017 FOR A 1,851-SQFT UNIT

[Spring]

7 hours ago, 13177 said:

Speaking of the old 1SIR camp, how come the camp is not demolished and left there for decade? That piece of land like that wasted for so long for not redeveloping.

Yes it certainly is wasted being left unoccupied n no demolition to the buildings there as well. There must be a strategic reason for doing this. There has been some development at the site of the obstacle course n shooting range besides the camp though but I’m not sure what it is. Any one knows?

[13177]

3 hours ago, Spring said:

Yes it certainly is wasted being left unoccupied n no demolition to the buildings there as well. There must be a strategic reason for doing this. There has been some development at the site of the obstacle course n shooting range besides the camp though but I’m not sure what it is. Any one knows?

Thought they build a road across certain part of the camp? And the camp became smaller but the main building of the camp still left untouched.

[Spring]

1 hour ago, 13177 said:

Thought they build a road across certain part of the camp? And the camp became smaller but the main building of the camp still left untouched.

Yes the Main camp is untouched but the field where the obstacle course and the shooting range area has been redeveloped but I’m not sure what are those buildings?

[Mercs]

On 11/15/2020 at 8:21 AM, Mercs said:

As mentioned prior, many years CM big warchest/enbloc milllionaires/ billion$, with CMs/current high prices, the property market have evolved as such that mostly are either buying for own stay (ABSD) and only for the more well to do rich with ample $ to invest/park funds (capitial appreciation). So highly doubt it's those adversely affected by the pandemic that's buying, no worries 😛

Then we look at other forms of simple investment alternatives FD/ stocks/ bonds etc, with stocks being one of the worst performer, many vested long still licking wounds from deep red portfolios. So property remain one safe stable yet offer better returns long term investment option.

As quoted from the linq article - Besides the pricing and the locational attributes of The Linq, the strong sales is also proof that “Singaporeans’ love for real estate overrides that of other investments”. 

Even without foreigner purchase, SG property market local self sustain, further proof of resilience. CM trump card as mentioned prior, hard to see any significant future price drop, imagine what will happen during recovery if all CMs removed? 😉

 

As mention 😉

https://www.straitstimes.com/business/invest/property-markets-state-of-play

Property market's state of play

 

In a surprising turn of events, the property market roared back to life when viewings were permitted again. June's new home sales surged by more than 100 per cent month on month to their highest level in seven years.

 

If the economy is down, why is property market doing well?

The pandemic has caused many buyers to reflect deeply on their long-term investment strategies. Currency fluctuation and sharp declines in global equities have ravaged the wealth of many people. The focus on capital preservation has driven some investors to divert their funds to real estate properties, which are deemed to be a more stable and diversified source of returns during times of uncertainty.

 

Has the property market performed up to expectation?

The property market has averted a major price correction thus far.

According to data released by the Urban Redevelopment Authority, private home prices rose 0.8 per cent quarter on quarter in the third quarter, after rebounding 0.3 per cent in the second.

Prices inched up marginally by 0.1 per cent in the first three quarters of this year.

While the price increase may be modest, it has beaten expectations of many analysts. At the onset of the pandemic, a number of analysts predicted that prices of private homes could dip by 3 per cent to 8 per cent this year, while a few expected prices to fall by more than 10 per cent.

For the public housing segment, the HDB resale market posted a stronger performance than the private residential market. Based on the HDB resale index, prices of resale flats rose by 1.8 per cent in the first three quarters of this year. Last quarter's sales also reached their highest level in 10 years.

 

What is the outlook?

We remain optimistic about the long-term prospects of Singapore's residential market. The fundamentals of our country - political stability, pro-business environment, safe haven status, excellent healthcare system and robust legal system - have remain unchanged throughout the pandemic.

Consumer confidence will continue to pick up as Singapore is at the cusp of the third phase of reopening. The increase in economic activities will help revive many businesses next year. The prospects of life returning to greater normalcy may be less remote since many nations are already preparing to roll out large-scale vaccination programmes next year.

We anticipate that prices of private homes may rise by around 1 per cent to 3 per cent, while around 8,500 and 9,500 private homes could be sold next year. For the HDB market, prices may continue to rise by 2 per cent to 4 per cent, while resale volume may increase by up to 10 per cent next year.

 

Who are buying properties during the pandemic?

Due to strict travel restrictions, locals are now dominating the private residential market across all market segments. About 80 per cent of private non-landed homes were bought by Singaporeans in the third quarter. This is the highest proportion recorded since the first quarter of 2009.

Most private home buyers are HDB upgraders, middle-aged investors, families with young children, young executives, retirees and a number of former owners of homes sold en bloc.

Some of these owners do not mind paying slightly more for an older but larger property, especially if they are buying it for their own occupation. This may explain why demand for large-sized private homes has been rising.

 

What properties are people buying now?

Private homes in the mass market and city fringe areas continue to form the bulk of purchases this year. These homes are affordable and readily available in the market. For the first 10 months of this year, 45 per cent of private homes sold were in the mass market while 37 per cent were in the city fringes.

The bulk of private home purchases (about 60 per cent) this year are below $1.5 million. However, there seems to be an emerging trend where larger and pricier homes are growing in demand.

Over the past few months, there was a surge in sales of large condominium units and landed properties. For instance, more than 1,600 large condominium units (1,200 sq ft and above) changed hands last quarter. This is 37.7 per cent higher than in the same period last year and above the last two-year average of 1,048 units. Around 600 landed properties were also transacted in the third quarter, the strongest quarterly landed sales since the second quarter of 2018.

Perhaps a growing number of people have come to realise the need for a larger living space since many are working from home and the trend may continue post-pandemic. Some astute buyers may also feel that large homes could be out of their reach if prices continue to inch up. Therefore, it could make more financial sense to buy a bigger home now since prices have not peaked.

 

 

 

[Mercs]

On 11/15/2020 at 8:21 AM, Mercs said:

As mentioned prior, many years CM big warchest/enbloc milllionaires/ billion$, with CMs/current high prices, the property market have evolved as such that mostly are either buying for own stay (ABSD) and only for the more well to do rich with ample $ to invest/park funds (capitial appreciation). Even without foreigner purchase, SG property market local self sustain, further proof of resilience.

 

3 hours ago, Mercs said:

https://www.straitstimes.com/business/invest/property-markets-state-of-play

What properties are people buying now?

there seems to be an emerging trend where larger and pricier homes are growing in demand.

Perhaps a growing number of people have come to realise the need for a larger living space since many are working from home and the trend may continue post-pandemic. Some astute buyers may also feel that large homes could be out of their reach if prices continue to inch up. Therefore, it could make more financial sense to buy a bigger home now since prices have not peaked.

 

 

https://www.straitstimes.com/business/property/ki-residences-at-sunset-way-sells-143-units-units-at-1790-psf

143 units at Ki Residences in Sunset Way sold at $1,790 psf

https://www.businesstimes.com.sg/real-estate/ki-residences-sells-22-of-units-at-s1790-psf

https://www.edgeprop.sg/property-news/close-22-units-ki-residences-taken-launch-weekend

 

60% of the units sold were the four- and five-bedroom units, which make up the “Luxury Collection” at Ki Residences. Four-bedroom units account for 58 units, with sizes from 1,245 to 1,711 sq ft. Premium five-bedroom apartments, with sizes from 1,819 to 2,239 sq ft, make up just four units in the entire development. Prices of these units are upwards of $2.15 million ($1,707 psf).

The predominantly large units sold point to owner occupiers “looking for generously sized, well-designed, 999-year leasehold, luxury product at a reasonable price range,”

There are also two-bedroom and two-bedroom-plus-study units from 700 to 883 sq ft, which make up 180 units. These are priced from $1.238 million ($1,768 psf). Three-bedroom, deluxe and premium units make up 418 units. Sizes range from 861 to 1,410 sq ft, with prices from $1.428 million ($1,658 psf).

 

Ki Residences is the third project to be launched after the October lull. “All three launches sold more than 100 units,”

“These sales is a testament of the depth of demand in the housing market. There are many buyers who are on the lookout for attractive projects.”

Next weekend, will see the launch of the 640-unit Clavon, which previewed on November 28. Located at Clementi Avenue 1, the 99-year leasehold Clavon has a starting price from $1,475 psf.

[13177]

On 12/5/2020 at 11:15 AM, Spring said:

Yes the Main camp is untouched but the field where the obstacle course and the shooting range area has been redeveloped but I’m not sure what are those buildings?

Long time no pass by that camp, so finally there is redevelopment on the SOC and shooting range area liao.