iProperty Group Continuing The Momentum

What an exciting and busy week it has been!

We held our very first EXPO in Penang last weekend and what a tremendous success it was. Organised on behalf of the Real Estate and Housing Developers Association (REHDA) Penang, MAPEX Penang 2012, with the theme The Most Lau Juak Property Show, was certainly well received by Penangnites and foreigners alike.

The three day expo, launched by YB Chow Kon Yeow, State EXCO for Local Government and Traffic Control, who represented YAB Lim Guan Eng, Chief Minister of Penang, attracted over thousands of people from all walks of life who made their way to the Straits Quay Convention Centre to grab the best deals in town.

Here are some snap shots of the event:

YB Chow Kon Yeow Officially Launching MAPEX Penang 2012

Folks visiting the booths at the MAPEX PENANG 2012

After such an astounding success in Penang, all focus is now on delivering an equally successful iProperty.com International EXPO in Singapore, which will be held from the 20th – 22nd of April 2012 at the iconic Marina Bay Sands from 11am – 8pm.

Also present at the EXPO will be Howard, our friendly mascot in Singapore who is keen on letting people to be in the know not just about the latest in the property market, but to also provide them with the opportunity to discover the best deals in town.

From the peaks to the valleys, Howard is on ground to promote the EXPO.

So, do lock in the dates and we hope to see you there.

On a separate note, we are keeping to our promise to only deliver the best, fastest and easiest search experience for our consumers. We have recently made some changes to our website – iproperty.com.my, making download of information of property news and search faster. We are pleased to say that these changes will be implemented across our other three portals in Hong Kong, Indonesia and Singapore.

So, brace yourself to have all the information you need to make an informed decision downloaded in a blink of an eye.

Another significant accomplishment on the innovation front is the Malaysian team winning at the recent Facebook Mobile Hack Day in Singapore. With a total of eight submission and only four winners to be selected, we are proud to win the Best Overall App for use of Facebook.

The team developed an app called the Property Friend Finder, which will enable users to find properties that are near their friends and family.

These are only some of the innovative things that we at the iProperty Group are working on. We assure you, there are more interesting things in store. So, do stay tuned!

Enjoy the week!

Resale HDB units in 2011 remain competitively priced, compared to condos

iProperty iNsights arms property buyers with handy information and market outlook for year 2012

While prices of HDB flats on the resale market have risen in the past few years, they continue to be more affordable than condominiums, according to a report on property transactions in 2011 registered on iProperty.com Singapore, the country’s No. 1 property website and part of the iProperty Group.

The iProperty iNsights 2011 consumer trends report reveals pertinent information on the state of the residential property market in Singapore, highlighting essential data such as average per square foot (PSF) prices for HDB apartments and condominium units across the island.

Additional data from the popular property portal emphasizes the disparity in average PSF prices among private (non-landed) and public housing (resale flats). In general, the average PSF for HDB flats across all room types have steadily increased – yet they remain at least half as costly when compared to the average PSF of condominiums.

Sign up, login and download this Report for FREE

“We are proud to share our latest iProperty iNsights report, which serves as an enabler for property buyers in Singapore to make informed, timely choices. We maintain an expansive network of agents and partners whom we work with closely to obtain on-the-ground information and ensure accuracy on the property data which we publish. With this handy guide, we hope to smoothen the decision making process among buyers for all their property-related needs,” said Shaun Di Gregorio, CEO of the iProperty Group.

 
Key highlights of iProperty iNsights 2011 Report

Login and Download the iProperty iNsights Report 2011

1. Districts

The top three most popular districts, based on total unique searches, were 15 (Katong, Marine Parade, Siglap, Joo Chiat, Tanjong Rhu)19 (Serangoon, Hougang, Punggol, Sengkang) and 9 (Orchard, Cairnhill, Killiney, River Valley) while districts 10 and 16 continued to remain popular among buyers of private properties.

Please refer to page 3 of the iProperty iNsights 2011 report.

2. Condominiums

- Condominium projects completed in the last few years in general fetched higher PSF prices, and this is even higher for city-based developments such as Icon (S$1,846) and The Sail @ Marina Bay (S$1,952).

- Projects located in the suburban areas continued to be more attractive for buyers, such as Melville Park (S$709) and Northvale (S$736).

Please refer to page 15 of the iProperty iNsights 2011 report.

3. HDB

- Based on total unique searches, the top three most popular HDB estates were BedokBishan and Woodlands, while estates like Tampines and Yishun continued to remain popular among buyers of public housing.

Please refer to page 17 of the iProperty iNsights 2011 report.

4. Most popular keywords

The highest portion of visitors to iProperty searched for the keyword ‘studio’, a reflection of continued interest in compact-sized apartments. This could be linked to the higher price tags attached to apartments of higher floor area, and to investors who are looking at reaping attractive rental income.

Please refer to page 29 of the iProperty iNsights 2011 report.

Conclusion

In general, resale HDB flats remained affordable for many Singaporeans, especially when compared with more established condominiums that tend to fetch lower prices. This gap can be seen when we compare the average PSF for older condominiums, which was at least twice those of HDB flats in general.

For more information, please login and download the iProperty iNsights 2011 Report here for free.

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

The list for Top Searched Keywords (Condo Name) includes all condos, both condos which have already reached TOP as well as new launches.

For the month of December 2011, Icon was clearly the most popular condo all, accounting for more than 12% of all searches. The high level of interest in Icon is likely due to its super-prime location in the middle of the CBD area, as well as its proximity to Tanjong Pagar MRT, where plots of land are usually reserved for commercial office buildings. Armies of office workers in the area also walk by the “iconic” building daily -  who although may not be able to afford the S$2,000 psf price tag of this new development, are unable to resist searching online and drooling with envy over photos of the Icon’s  top-end designer apartments.

Top Searched Keywords (Condo Name) – Dec 2011

Top 10 Most Searched New Developments – Dec 2011

Condo development names such as The Hiller and Woodhaven are likely already familiar to those of us who regularly browse through the newspapers and have come across their eye-catching advertisements featuring a glimpse into the luxurious lifestyle the privileged few can enjoy in one of their condos . These developments have been aggressively building awareness of their condo’s brand through the local media, and have been rewarded by their efforts by having their projects claim the top 5 spots in the Top 10 New Developments list. While the sales results are not fully out yet, it is likely condos ranking high on this list will perform well,  and enjoy strong showroom sales.

It is also interesting to note that many of the new developments in the top 10 lists are also located in the non-central areas – likely a reflection of overall falling sales in the core central region as a result of the additional 10% stamp duty on foreigners, as well as Singaporean HDB upgraders who are taking advantage of the wide-selection of new mass-market condos launched within their price range.