iProperty.com Asia Property Market Sentiment Report 2012

In December last year, many of you participated in iProperty.com Asia Property Market Sentiment Survey, which resulted in this Report. We thank you for making this Report so great, filled with insights that we’re sure will help you make better property decisions – here and overseas.

As the first regional online property survey of its kind, the iProperty.com Asia Property Market Report comprises of 7,720 responses from website visitors and subscribers of iProperty Group networks in Singapore, Malaysia, Indonesia and Hong Kong. The survey revealed a common thread amongst property buyers throughout the region, but also key country-specific findings.

Did you know?

“85.6% of respondents in Singapore deemed affordability and
rising housing prices as the top 2 issues in the property market.”

“42.2% of Singaporean users in the survey showed interest in overseas property,
citing Malaysia and Australia as their most preferred overseas locations.”

“Over half (51.7%) of Singapore buyers has a budget of
between SGD 500,000 to SGD 1 million.”

“ Two-thirds (66.4%) felts that the Singapore property market is holding
up well despite the threat of a global recession.”

“ 58.3% agreed that the government should
step in to control COV on HDB flats.”

 

Download the full 65-page Report now.

 

iProperty.com Singapore Site Search Nov 2011 – Top 10 Most Searched Condos and New Developments

We now take a closer look at ‘Condominium‘ as a property type, and spotlight on the Top 10 Most Searched Condos and the Top 10 Most Searched New Developments in November 2011.

In the chart for the Top 10 Most Searched Condo, we’ve upgraded the list with the latest average PSF prices so that you can compare and contrast. If you are looking to buy a condominium, it will be worthwhile to look at these charts before you make a decision – be it to live in, for rental yield or appreciation value.

Top 10 Most Searched Condominiums – Nov 2011

Icon remained the most searched condominium on iProperty.com.sg. Its median psf is S$1,841 in November 2011. The biggest climber is TreVista, moving 5 places up the chart from No. 7 to No. 2. The Sail @ Marina Bay remained steady at No. 3, with the highest average PSF price of S$2,710.  The most value-for-money, popular condo is Parc Oasis, trending at an average of S$835 psf.

In November, 1,417 condominiums and apartments were sold, and the national average price PSF was S$1,182. This can provide you with some basis to make comparisons on your property purchase.

(As cavaets may not be fully lodged at URA, the numbers above may change. Data is accurate as of December 16, 2011.)

Top 10 Most Searched New Developments – Nov 2011

The Palette, a 892-unit condominium, topped the chart in November as the most searched for new property development. It is also one of the best selling project, with 367 units sold out of the 450 units launched. Its median price is S$895 psf. (Source: URA, OrangeTee Research)

In a close 2nd is The Verv @ RV. Located on River Valley Road, its media price is S$2,098 psf from developers’ sales*.

Steady performers, Woodhaven and The Tennery, have a median price of S$1,034 psf* and S$1,246 psf* in November respectively. Notable new entries are The Hillier and Seastrand (S$952 psf* in Nov 2011).

Now, what are other important criteria when it comes to searching for your property in Singapore? Other keywords that you have been searching for include: studioshophouseMRTSimeiHolland, and freehold.


*Source: URA, URA Property Market InfoStreetSine Property Analytics
*Data accurate as of December 16, 2011

iProperty.com Singapore Site Search Nov 2011 – Top 10 Most Searched Districts and HDB Estates

November to December 2011 has been an eventful month for the Singapore property market – increase in HDB property taxes, Additional Buyer’s Stamp Duty (ABSD) – just to name a couple of important ones.

Though we may not be able to make changes to the above, we can certainly arm you with relevant information and help you make better property decisions when buying, selling or renting your home. This is exactly what iProperty.com Singapore Monthly Site Search Report is aimed at doing.

And what’s great from this report? We’ve upgraded it by including the average PSF prices of the Top 10 Most Searched Districts, and the median resale prices and average PSF prices (all room types) of the Top 10 Most Searched HDB Estates. We hope you enjoy this report, and that it helps you make better property buying or selling decisions.

Top 10 Most Searched Districts – Nov 2011

In the month of November 2011, there were 1,662 private properties (landed and non-landed) transacted  - a 48.8% drop compared to November 2010, and a 35.0% drop compared to last month. The overall average PSF prices of private properties increased by 4.40% to S$1,116 from October’s S$1,069. This is also a decrease of 1.50% from November 2010.

The hottest district is once again District 19. For 2 consecutive months, District 19 overtook District 15. Is this an indication that the lower prices are attracting more buyers?

District 1, District 11 and District 16 dropped out of the chart, with the new entry of District 12, District 20 and District 22 in the Top 10 Most Searched Districts in Singapore.

(As cavaets may not be fully lodged at URA, the numbers above may change. Data is accurate as of December 16, 2011.)

Top 10 Most Searched HDB Estates – Nov 2011

The top 10 Most Searched HDB Estates saw the usual suspects – Bedok, Bishan, Tampines, Ang Mo Kio, Serangoon, Punggol, Woodlands and Clementi remained much sought-after areas to live in for HDB dwellers. Out of these, we can easily gather the popularity of mature estates when it comes looking for a HDB flat. Proximity to schools, MRT and amenities like market and heartland malls remain top considerations for property buyers.

There were 1,735 resale HDB flats transacted in November 2011. The average PSF prices for resale HDB have been steadily increasing in the year, reaching an average of S$430 psf for all HDB types in November 2011.

HDB also released 4,200 new HDB flats in November 2011. There will be 25,000 more new flats scheduled to be released in 2012.


*Source: URA, HDB, StreetSine Property Analytics
*Data accurate as of December 16, 2011

Join the iProperty.com Asia Property Sentiment Survey and WIN

The iProperty.com Asia Property Sentiment Survey is here! This time around, you will stand a chance to win a 3D/2N hotel stay at Tower Club at Lebua, Bangkok, worth S$1,500 proudly sponsored by AsiaWebDirect.com!

iProperty.com Singapore Asia Property Sentiments Survey Contest

Another 50 winners will walk away with a S$20 Crabtree & Evelyn gift voucher, which can be redeemed at any Crabtree & Evelyn store in Singapore and is valid until 31 December 2012.

All it takes is 3 minutes of your time to complete the survey to be in the running for the prizes. Your participation is greatly appreciated as your views and sentiments will provide invaluable insights on the Singapore property market and Asian property market trends.

After you have completed the survey, another page will open for you to enter the contest. Please provide your particulars to be eligible for the contest. You can be assured that your personal particulars will be kept strictly private and confidential, and your responses are not personally identifying.

Kindly note that all survey questions must be answered and the last day to complete the survey and join this contest is 30 December 2011.


Asia Web Direct Join the iProperty.com Asia Property Survey and WIN! Take Survey Now

iProperty.com Singapore Site Search Oct 2011

With one more month to the end of 2011, we are still racing ahead with a hatful of good news. According to comScore Media Metrix Mar-Oct 2011, iProperty.com.sg is #1 for real estate in Singapore. The iProperty Group also received the BRW Fast 100 award for being the 4th fastest growing business in Australia. Thank you for always staying on iProperty.com.sg and supporting our endeavours to bring you all things on property.

Now, let’s track back to October and look at what you have been searching for on iProperty.com.sg – which are the Top 10 Districts, the Top 20 Condominiums, and the Top 10 New Property Developments. And of course, some of you have been searching for HDB flats. We hear you, and this month, we have included the Top 10 Most-Searched HDB Estates for your consideration.

Top 10 Most Searched Districts – Oct 2011

In October, District 19 topped the chart moving 1 rank up from Q3 and H1 2011, as District 15 took 2nd place for the first time this year. A quick comparison at the property transactions that had been happening in these 2 districts showed that District 19 have always enjoyed more sales as their average psf is much lower than the more expensive District 15.

According to caveats lodged at URA in Oct 2011, the average psf of condos in District 19 is S$917 as compared to District 15′s S$1,265. An interesting note: Out of 2,014 condo sales in Oct 2011, a good 28.5% (more than a quarter) came from District 19. It sure is a hot district!

We saw some movements in the rankings from 6th to 10th, with District 1 making into the charts for the first time. We are all familiar with District 1 – a place where you will see luxury apartments. The average psf of condominiums in District 1 is the highest in Singapore – a whopping S$2,243 psf in Oct 2011. Compare this to the national average of S$1,068 psf in Oct. Does this indicate an increasing appetite for high-end properties?

Top 20 Most Searched Condominiums – Oct 2011

Icon remained the most searched condominium on iProperty.com.sg. Its median psf also increased from S$1,728 in September to S$1,908 in November. Located in District 2, Icon had a median psf of S$1,728 in September*.

Soaring into No. 2 is Suites @ Cairnhill, which is a popular condo for rent due to its central location and proximity to the Newton MRT station.

There are 7 other new entrants into the Top 20 charts and we’ve listed their latest median psf from caveats lodged at URA* for you to compare before making your property decision.

  1. Trevista at No. 7: S$1,134 psf (Nov 11)
  2. The Rochester at No. 10: S$1,420 psf (Oct 11)
  3. Parc Vera at No. 11: S$840 psf (Developers’ Sale in Oct 11)
  4. Soleil @ Sinaran at No. 12: S$1,915 psf (Nov 11)
  5. Alexis at No. 15: S$1,675 psf (Oct 11)
  6. Kerrisdale at No. 18: S$960 psf (Nov 11)
  7. Heritage View at No. 20: S$1,088 psf (Nov 11)

Top 10 Most Searched New Developments – Oct 2011

Woodhaven remained at the top of the chart, commanding a staggering 15.89% of searches on new property developments on iProperty.com.sg. Closing in on 2nd and moving up 3 notches is The Cape by Far East SOHO in popular District 15.

For the first time, Thomson Grand made it into the charts and did the new property launch made it high. At 3rd place, the Upper Thomson Road condo has a median price of S$1,384 psf in Nov 2011.

Other notable mentions: Regent Residences, The Tennery and Livia – all new entrants that are fast becoming popular with property buyers and investors.

Top 10 Most Searched HDB Estates – Oct 2011

Sharing these results for the first time, we hear that many of you are interested to know which HDB estates are most popular in Singapore. In our enduring efforts to help you make the best property decisions, here they are with the median resale price of a 4-room HDB flat.

Are you surprised by Bedok topping the chart despite the Bedok Reservoir drownings?  We are not though. Although Bedok saw a very minute decrease in transaction volume (from 125 units in June to 98 units in October), its median resale price for a 4-room HDB resale flat in October was S$440,000, a increase from S$410,000 in June.

Bishan has always been a much sought-after HDB estate, with its central location, good amenities and popular schools. A 4-room HDB resale flat in Bishan is S$527,500 in October 2011. And the prices of that Bishan flats seem to be on an upward climb.

Another highlight is Serangoon, which is seeing phenomenal increase in popularity due to the opening of the full Circle Line and Serangoon NEX. A 4-room HDB resale flat in Serangoon is S$453,000 in October 2011. Similar to the HDB flats in Bishan, we are seeing a steady increase in prices since January 2011.

Now, what are criteria are you interested in when searching for your dream home in Singapore? Other keywords that you have been searching for include: studio, shophouse, MRT, Simei, Holland, and penthouse.


*Source: URA Property Market Information

Far East Organization launches the SOHO brand with sneak preview of The Scotts Tower

Far East Organization (FEO) unveiled Far East SOHO, its latest brand encompassing SOHO residential and commercial properties in Singapore. In the same launch, iProperty.com Singapore had a sneak preview of The Scotts Tower. (TST is now open for preview)

Though SOHO-style living is not new to the Singapore market, FEO hopes to redefine this urban lifestyle, and give room and power to property buyers to exhibit their personal style and creativity in their SOHO space.

Closely attuned to the changing lifestyle and housing demands in Singapore, Far East SOHO properties seek to appeal to homebuyers with the ability to personalize living space and create a 3-dimensional spatial haven for work-live-play.

To do this, all Far East SOHO developments will offer to urbanites:

1. Strategic locations – easy and quick accessibility to the City
2. Excellent connectivity – broadband and transport connections to work and play
3. Flexible space – floor-to-ceiling heights of at least 3.4 meters, color palette options and a semi-white plan

“Buyers can expect a number of new stylish and distinctive Far East SOHO project launches in the months ahead. We are thrilled to have pushed the property envelope in achieving this significant milestone today. Our team will now endeavor to build on our SOHO equity with quality products that are synonymous with the best designs, locations, transportation connectivity and services offered. Indeed, home buyers can aspire to take on a brand new SOHO lifestyle where they are part of the new economy while enjoying the all in one living-working-playing concept offered by our SOHO projects,” concluded Mr Chia Boon Kuah, CEO, Property Sales and Executive Director of Far East Organization.

Other SOHO projects previously launched by Far East Organization include: The Central above Clarke Quay MRT station, The Tennery at Woodlands Road and Choa Chu Kang junction, and The Cape on Amber Road.

A Sneak Preview of The Scotts Tower

Locating at 38 Scotts Road, the latest SOHO development by Far East Organization is The Scotts Tower (TST) which will be launching next week. This 31-storey development consists of 231 SOHO apartments – each with a built-in platform that you can customize into either a bedroom or a working space.

Conceptualised by UNStudio‘s co-founder and star architect Ben van Berkel, The Scotts Tower would have 128 units of 1-bedroom apartments (624-667 sq ft), 80 units of 2-bedroom apartments (807-904 sq ft), 20 units of 3-bedroom apartments (1,227-1,389 sq ft), and 3 units of 4-bedroom apartments (2,928-3,315 sq ft).

Facilities to help urbanites with their fast-paced lifestyles include:

  • Exclusive concierge services
  • Housekeeping and laundry assistance
  • Customized  storage solutions
  • Broadband connectivity
  • Wi-Fi enabled meeting pods
  • Private party deck on level 25

Want to see how the interior can look in a 1-bedroom or 2-bedroom unit? Head over to our Facebook page for a sneak preview.

The Scotts Tower is estimated to TOP in 2016.

Home buyers in Singapore positive about prices of public housing

Survey results by iProperty.com.sg signal increased confidence in market stability

Recent government measures taken to address concerns surrounding the public housing market appear to have brought about some positive sentiments among home buyers, as demonstrated by a recent Poll conducted by iProperty.com.sg, Singapore’s number one property website.

The poll, conducted from August to November this year, asked respondents for their opinions on whether public housing prices will stabilise within the next three to five years – as mentioned by Minister for National Development Khaw Boon Wan earlier this year. 1,033 participants responded to the poll.

Key findings as follows:

1.   More than a third of respondents (36.9%) believe that three to five years is a fair assessment for public housing prices to stabilise.

2.   Trailing slightly behind are 31.9% of respondents who, on the other hand, think that prices will never stabilise and more radical measures need to be taken.

3.   19.9% of respondents think that the government is doing a stellar job and prices will stabilise over the next 1 to 2 years.

4.   11.3% thinks approximately 5 to 7 years is needed for prices to stabilise.

From the findings, it can be seen that a clear majority – 56.8% – are of the opinion that the government is either on track or will likely exceed expectations on their three-to-five year projection to cool the public housing market.

However, a significant minority – 43.2% – remain skeptical that public housing prices will stabilise in the timeframe put forward. Further to this, a large portion of this group – 31.9% of respondents – appear unconvinced of the current measures adopted by the government and feel further action needs to be taken.

Much of the positive sentiment can be attributed to the range of measures and plans the government had rolled out in the second half of the year. These measures include a series of new Built-to-Order (BTO) launches in July, September and November, injecting several thousand new units into the market. These include developments in highly-coveted mature estates such as Bedok, Yishun and Hougang. Complementing this were recent announcements made to enhance chances for repeat applicants bidding for new units, lifting of the income ceiling for Executive Condominiums, and for Barrier-Free Accessibility (BFA) features to be made available across all HDB estates by the end of December 2011.

“The findings of our Poll paint an encouraging picture, showing that measures taken by the government have borne some fruit,” said Shaun Di Gregorio, Chief Executive Officer of iProperty Group Limited. “However, as encouraging as these numbers are, we should also not forget that there is still a significant level of dissatisfaction still pervading the market.”

Referring in particular to the 31.9% of respondents who said that prices will never stabilise, Shaun Di Gregorio said that what the government does in the next six to 12 months will be crucial in winning over this group of skeptics. Key issues that may have contributed to this outlook include the pricing of units under the Design, Build and Sell Scheme (DBSS) and exceptionally high cash-over-valuation figures for some highly sought-after resale units.

“Affordability and lack of suitable options will continue to be the two most important factors for home buyers. While we are seeing a gradually-increasing level of positivity in the market, other concerns, such as the still-increasing price of property and fears of a potential economic downturn in 2012, will be key considerations that may mean the difference between a positive and less-than-positive 2012 for potential home buyers,” he added.

Marina Bay Financial Centre takes gold in MIPIM Asia Awards

MIPIM Asia announced the winners for its 5th Awards competition, recognizing outstanding real estate projects in the Asia Pacific region. Delegates were called on to rank 29 winning Awards projects into gold, silver or bronze. The winners were divulged at a gala dinner on Wednesday November 16 at the Hong Kong Convention and Exhibition Centre.

A notable mention goes to Marina Bay Financial Centre (which includes Marina Bay Residences) for clinching the Gold in Best Mixed-Use Buildings and the MIPIM Asia Participants’ Choice Award. Another Gold was awarded to Belle Vue Residences in Best Residential Developments. Helios Residences won the Bronze in the same category.

Marina Bay Financial Centre. Image by Raffles Quay Asset Management Pte Ltd.

Best Mixed-Use Buildings

GOLD – Marina Bay Financial Centre
Singapore
Raffles Quay Asset Management Pte Ltd
Developers: Cheung Kong (Holdings), Hong Kong Land, Keppel Land Limited
Architect: Kohn Pederson Fox Associates

 

 

SILVER – Shanghai International Cruise Terminal
Shanghai, China
Sparch
Developer: Shanghai Port International Cruise Terminal Development Co., Ltd
Local Architect: Shanghai Institute of Architecture Design Research (SIADR)

BRONZE – Novena Lifestyle & Medical Hub
Singapore
Far East Organization
Developers: Transurban Properties Pte Ltd and Novena Point Pte Ltd
Architect: DP Architects Pte Ltd

Best Residential Developments

Belle Vue Residences

GOLD – Belle Vue Residences
Singapore
Wing Tai Land Pte Ltd (on behalf of Winquest Investment Pte Ltd)
Architect: P&T Consultants Pte Ltd
Design Architect: Toyo Ito & Associates, Architects

SILVER – Saigon South Master Plan
Ho Chi Minh City, Vietnam
Skidmore, Owings & Merrill LLP
Developer: Phu My Hung Corporation
Architects: Skidmore, Owings and Merrill LLP, Korn Architects, SPCC, NQH Architects, KYTA, RTA Associates, SURV

Helios Residences by Wing Tai Holdings Limited.

BRONZE – Helios Residences
Singapore
Wing Tai Land Pte Ltd (on behalf of Winquest Investment Pte Ltd)
Architect: P&T Consultants Pte Ltd
Associate Architect: Guida Moseley Brown Architects

Best Green Buildings

GOLD – SuzIon One Earth
Pune, India
Synefra E&C Ltd
Developer: Vascon Engineers
Architect: Christopher Charles Benninger Architects Pvt. Ltd

SILVER – Khoo Teck Puat Hospital
Singapore
CPG Consultants in collaboration with RMJM

BRONZE – United World College of South East Asia (East Campus)
Singapore
JTC Corporation
Architect: P&T Consultants Pte Ltd

Best Futura Projects

GOLD – CX 2-1
Singapore
Aedas Limited
Developer: Lucas Real Estate
Architect: Anrew Bromberg of Aedas

SILVER – CleanTech Park
Singapore
JTC Corporation

MIPIM Asia Participants’ Choice Award

Marina Bay Financial Centre
Singapore
Raffles Quay Asset Management Pte Ltd
Developers: Cheung Kong (Holdings), Hong Kong Land, Keppel Land Limited
Architect: Kohn Pederson Fox Associates

For the full list of award winners of the 2011 MIPIM Asia Awards, click here.

Founded in 1963, Reed MIDEM is the organizer of MIPIM Asia Awards. Its jury, which selected the 2011 winners, is composed of an international panel of top property experts and chaired by Dr. Ngee Huat Seek, Board Director of the Government of Singapore Investment Corporation (GIC) Real Estate, Singapore.