New property launches to welcome by April 2017

Come the fourth month of the year, and the property market will be seeing as many as four new property launches spicing up the mix. Sentiments have been looking up of late as more buyers are coming to terms with the market reaching the bottom of the cycle, and these new launches may welcome increased interest from buyers. Property analysts are expecting up to 9,000 new home sales this year.

ClementiCanopyPhoto credit: www.theclement-canopy.com.sg

The 4 new upcoming launches buyers can look forward to are:

The first project expected to launch as soon as next month is the 505-unit Clementi Canopy. Though recent trend has shown smaller units as being more popular with buyers, this development will feature mainly 2-bedders to 4-bedders sized between 635 sq ft to 1,500 sq ft, with the former making up almost a third of the units.

Paya Lebar Quarter_LendleasePhoto credit: Lendlease

One of the more exciting projects from the list above is Park Place Residences at PLQ. It is Lendlease‘s first residential project in Singapore and the rejuvenation plans for Paya Lebar, to build an integrated development in Paya Lebar Central, may be the nectar that attracts buyers. The project is directly linked to the Paya Lebar MRT station and will also include residential units with a range of 1- to 3-bedroom apartment units, 3 office towers and a retail mall with more than 200 stores. Successes of previous launches and sales of similar projects such as NorthPark Residences and The Poiz Residences are signs of assurance for the developers that take-up rate will be positive.

 

Mixed use properties – Aiming for perfection in Integration

In the past decade, mixed-use developments have sprung up all over the island, in almost every township and with the most popular ones near town centres and transport hubs. As cities become more crowded and space scarcer, these all-in-one properties are finding favour with buyers and investors as rental yields are often considerably higher.

South Beach
Integrated developments consist of a mix of at least 2 uses – transportation, retail, commercial and residential. They offer the benefits of having conveniences at your doorstop and with an emphasis on a balanced lifestyle. Although it may seem like the lines are blurred, developers are clever about giving residents a sense of exclusivity and most mixed-use properties have their own residential parking area, driveway and serviced-lift lobbies.

Some of the more recent integrated properties include North Park Residences, Kensington Square and The Rise @ Oxley just to name a few. There are a growing number of integrated developments in the city centre as well, near the Central Business District (CBD) and Orchard road districts, including Scotts Square Residences and Icon condominium in Tanjong Pagar  Some older properties include serviced apartments connected to malls such as Far East Plaza and Liang Court. There are also quite a few massive integrated developments coming up in the next few years such as DUO Residences in Rochor road, Tanjong Pagar Centre and South Beach.

Icon VillageThough these properties do not come cheap, their potential is considerable and as Singapore progresses into the 21st Century with lesser available land area and increasing population, their value seem very likely to appreciate.

Mixed-use development fever extends to the Philippines

Mixed-use developments have been hot properties in various Asian countries for sometime now and their popularity are extending to the city of Cebu in the Philippines.
MandaniBayPhilippines

Mandani Bay, the first mixed-use development in Cebu, hopes to bring the city the reputation of being a lifestyle destination. Even more so than it already is. For a long time now, tourists have flocked to the city for its clear waters, clean shorelines – well, the sun and the sea. The waterfront development is jointly developed by Hongkong Land and Taft Properties and will yield up to 10,000 residential suites and 240,000 square metres of retail and office spaces.

MandaniBay1Various hotspots within the Philippines have been attracting overseas investment money, either from foreigners or from monies remitted from well-educated Filipino professionals working overseas. And there is a growing demand for mid-range condominiums as The City of Mandaue, one of the 3 main cities in Metro Cebu invests in growing its IT and tourism sectors. The Cebu IT Park and Cebu Business Park for example , provide plenty of demand for not only residential but also office, commercial and retail units. Rentals of properties in and around Mandani Bay offer yields of up to 10 per cent per annum.  The population in this growing city-state is set to increase to 5 million by 2020.

With an annual GDP growth rate that is five times over the national average, Cebu’s potential for growth is not to be underestimated.

 

 

Yio Chu Kang and her old-world charm

Purportedly named after an early settler, Mr. Yeo, which built his house (chu in the hokkien dialect) along the river (kang), Yio Chu Kang still has an old-world charm about her. With kampongs still in her midst till the 1980s, the area is slowly awakening while still holding on nature and space.

floravista3Photo credit: Oxley Holdings Limited

As part of the Urban Redevelopment Authority (URA)‘s rejuvenation master plan and development of the North Coast Innovation Corridor, Yio Chu Kang is situated near the Seletar Aerospace Park, which will create 10,000 jobs by 2018. Many private condominiums and mixed-used properties are sprouting in the vicinity, with Flora V (made up of Floraview and Floravista) being one of the latest. A freehold mixed-use development situated along Yi Chu Kang Road, it will hold 140 residential units and 80 commercial units. Besides one-, two- and three-bedders, the project will also feature terrace penthouses. Some penthouse units even come complete with jacuzzis and rooftop terraces.

Adding to its own mix of restaurants, shopping and lifestyle services, are nearby shopping malls such as Greenwich V, Seletar Mall and Ang Mo Kio Hub. The Yio Chu Kang MRT station is also a short distance away, and the upcoming Lentor station (Thomson- East Coast Line), also provide options to get to town quickly, aside from its connectivity to the Seletar Expressway, Central Expressway (CTE) and Kallang-Laya Lebar Expressway (KPE).

In the decade ahead, Yio Chu Kang might very well be the lion awakening. When will we hear it roar?

Property market showing signs of awakening

Sturdee-ResidenceAlthough property prices have been falling, the show of interest from the buying public has never really waned, instead they are now simply more aware of their options and have become more selective in their investments.

Signs that the market lull might be broken soon have come from the positive take-up of units in 2 recent launches at The Visionaire Executive Condominium (EC) and The Sturdee Residences. 158 units were sold the 632-unit The Visionaire EC at a median price of $811 psf while prices averaged at $1,550 psf at the 305-unit The Sturdee Residences. Buyers at the private residential project have gone mainly for the smaller one- and two-bedders though 3 of its 8 penthouses have already found new owners. Two of the 1,830 sq ft penthouse units were sold at $3.2 million each.

Gem REsidencesThe Parc Life EC and private residential project Gem Residences will launch this weekend. Private condominium Stars of Kovan is expected to launch next month. The latter is a mixed-use development consisting of 390 residential units, 5 strata terraces and 46 shops. Prices are expected to range between $1,550 to $1,600 psf. E-applications for Parc Life have already exceeded the 660 units available and there is hope that uptake will be on the uptick at both these projects.

What do home buyers value?

Location and price. The first is a well-known fact, that the better placed the property, the higher the demand and hence also the price. But home buyers are also keeping a close eye on their budget and the total quantum price could be the make-or-break factor when it comes to sealing a deal.

NorthparkResidences2Photo: Northpark Residences

Developers have been quick to catch on to this and the launches which sold quickly and well last year were those in the vicinity of a MRT station, school or shopping mall and affordably priced. Mixed-use developments such as Northpark Residences and The Poiz Residences were especially popular. Northpark Residences has sold 486 units at the $1,374 psf average while The Poiz Residences sold 277 units at $1,440 psf. Other mixed-use developments buyers seemed out include J Gateway and DUO Residences.

Home buyers’ appetite have signalled a trend towards $1,000 psf for suburban homes, $1,500 psf for city fringe properties and $2,000 psf for homes in the central regions. They are however more willing to pay more for mixed-use residential properties or those nearer MRT stations or bus interchanges.

WIsteria YishunPhoto credit: thewisteria.net

There will be a number of new launches such as 183 LongHaus in Upper Thomson and The Wisteria in Yishun coming up within this first quarter of the year, and it will be a time to watch as it will set the tone for the rest of 2016.