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6 Feb

Showflats sales deflate over the weekend

Sitting at the sidelines and watching the action from a safe distance. This is the position most home buyers are taking for the moment, as far as weekend sales at showflats goes. Though lunar new year preparations might have taken some steam out of the engine, some are hoping that it shows the cooling measures may be taking effect. Others may be waiting to see if property developers might lower property prices or throw in discounts of sorts.

La Fiesta condominium in Sengkang.

La Fiesta condominium in Sengkang.

Q Bay Residences, for example, launched with good sales some weeks back, but over the weekend, only 10 units were sold. Still, more than half of the 630 units in the new residential development has been sold. It was pretty much the same at the La Fiesta showflats, with only 7 units sold.

Properties that bucked the trend were CapitaLand’s Interlace and d’Leedon projects. The Interlace offered an additional 10 per cent discount on top of their previous 10 per cent, taking the prices down even more and selling 15 units. D’Leedon showed true promise with the sales of 47 units.

Q Bay

For now, the Chinese New Year break might be just the break buyers need to sit back and think things through, perhaps discuss a little over gatherings with family and friends, and do a stock-take of their current financial situations.  New launches the week or two after will be the time to watch, and it may just set the mood for the rest of the year.

8 Jan

New Pasir Panjang Freehold Low-rise Apartments

SeaSuites, launched over the weekend, has collected 100 cheques even before its official launch. As a freehold property, the units range from 517 to 1, 410 sq ft, mostly made up of one and two-bedders. Prices hover around $1, 650 sq ft. With the fashion-based business group, Link (THM) behind this project, this small-scale landed development may be projected at buyers with an eye for design. The group’s other residential properties include a landed housing site in Holland Road, which when completed are expected to fetch a grand $10.5 to $11 million per home.

SeaSuites 1

With only 52 units available, who out of the 100 cheques collected will successfully secure a home at this new residential development by the end of Sunday? The exclusivity and rarity of low-rise apartments are perhaps the calling card for this new property. The previous lack of private condominiums may also be a contributing factor. Many buyers or investors may look at the area as a future property goldmine, at least for the potential it holds. And as more MRT stations are being built, areas such as these which are yet relatively underdeveloped may see much more activity and early buyers could benefit from a wider profit margin.

Other private properties in this area include Village @ Pasir Panjang, Parc Imperial, The Foliage and West Shore Residences.

11 Dec

The Topriary penthouses sold out

At one of Sengkang’s up-and-coming executive condominiums, The Topriary, there were once 16 penthouses.  But they are now none. All were sold out within the first two hours and at prices of between $1.3 and $1.5 million at sizes of between 1, 970 sq ft to 2, 476 sq ft.

Buyers were attracted by The Topriary’s amenities and investment potential. Situated near the soon-to-be completed Seletar Mall and existing Greenwich V Mall, home  buyers snapped up 600 units of the 700 units within the first five days. Applications have since closed last Tuesday. Other units included two-, three- and four-bedders as well as dual-key apartments.

The response is a strong indication of the market interest in ECs. HDB upgraders and those not willing to fork out the money for limited space in private properties count amongst many of those applying for the recent EC launches. CityLife@Tampines was another EC with a 4, 349 penthouse which was more than three times oversubscribed. If you’re looking out for another EC launch, then Forestville in Woodlands might be just your thing.

With property developers offering more luxury fittings and options in the latest EC launches, it makes one wonder how much further will this particular property sector have to go before it becomes entirely comparable to private condominiums and possibly closer to laying its own path to demise.

22 Nov

Eastside Story – Amber Road

Along Amber Road, many new properties are being built. And before they are even completed, they are already been eagerly sought after, especially by the expatriate community. Reasons that area is well-liked is clear. A heritage area with good food, shopping malls, serviced by various means of public transport and roads that lead to the city centre, airport and beach which are all just a stone’s throw away – Amber Road is set to wow.

Shore Residences Amber RoadProperties along this stretch include The Seaview, The Esta, One Amber, Amber Residences, The Cape and Silversea. Industry analysts are expecting 700 new homes in this area within the next few years. There is yet space for another 150 units as Marine Point, sold in a collective sale last January, will yield a good many more homes. Many of the properties here are freehold, making them all the more enticing to property investors.

Sales of resale units in older condominiums as well as rental yields reveal a healthy appetite for homes in the East side. Near good schools, the beach, East Coast Park and many other amenities, property investors favor this spot for obvious reasons. However, those who are purchasing a unit here only now may be at a disadvantage compared to those who bought in before the implementation of the additional buyer’s stamp duty. The lack of a MRT station might be cause for a slower rise in home prices here. But by the way Singapore is progressing, this area may have a MRT station or improved transport modes sooner or later. Then, it might be time to rake in the profits.

19 Nov

Many units in High-end residential projects unsold

At least 8 residential property developments are reaching the end of their 2-year sales deadline and if they do not sell all their units by the stipulated date, the property developers will have to foot the deadline extension bill to buy themselves more time.

Martin No38Most are high-end private apartments such as The Marq on Paterson Hill, Hilltops in Cairnhill Circle, Scotts Square in Scotts Road, Martin No. 38 and Residences at Emerald Hill. One of the reasons cited for the dip in sales in the high-end market was the additional buyer’s stamp duty. Foreign home demand seems to however to going way off the charts to the luxury landed properties in Sentosa Cove with a number of bungalows going for sky-high prices of late.

But if you’re thinking that prices might start dropping, it might be way to early to wish for a christmas present. Industry experts say property developers are unlikely to drop the prices as this may affect their reputation and stir up unpleasant sentiments amongst earlier buyers. However they might give incentives such as stamp duty absorption or rental guarantees.

Ultimately, it might just boil down to a matter of how much holding power these developers have and how the immigration and housing policy change over the next year.

8 Oct

Watertown – Going, going, gone.

 

Watertown condominium. One of the first new properties to be launched in Punggol this year.

Almost. With only 3% of units left of the Watertown condominium development in Punggol. Developed by Far East Organization and integrated with the Waterway Point shopping mall, the nature and space of Punggol Waterway, and an important feature in the Punggol Central Masterplan, Watertown has been steadily reeling in home buyers and investors. Perhaps currently one of the hottest, property in town. there are only 34 units remaining, mainly three and four-bedders, ranging from 1,173 sq ft to 1,550 sq ft.

Not to be scoffed at as unwanted residual units, these remaining apartments are  potential prime property investment goldmines, with most of them having scenic views overlooking the Punggol Waterway. Once it is completed, Watertown will be Punggol’s pioneering retail and residential development. What will come in the future is anyone’s guess, though not a difficult one.

Mixed-used developments such as The Hillier are hot properties to watch. Will more be built along the Thomson Line?

On the other side of the island, another Far East Organization development, The Hillier has also sold most of their 528 units, with only 21 units left.