Festive Period causes 28% drop in February for New Home Sales, due to absence of launches.

Festive Period causes 28% drop in February for New Home Sales, due to absence of launches.

According to the Urban Redevelopment Authority of Singapore, only 377 private homes were sold and transacted (excluding executive condominiums) in February. Analysts indicate that the drop in 28% drop in sales, from the 524 units sold in January, was attributed to the Chinese New Year festivities where developers held back their launches. The lack of inventory and supply for real estate private homes thus resulted in a drop in the hype and build up for potential purchase.

Ms Tan Siew May, a potential home-owner and buyer in the first quarter of 2018, spoke out to us that she is “waiting for an upcoming launch Margaret Ville in Queenstown before looking at other areas”. It seems that many buyers are waiting out this dull season before proceeding to dive into the property market, especially when most showrooms are currently unavailable.

In fact, there were only two new launches.

  1. Parksuites, a 119-unit project by Far East Organization in Holland Grove, soft-launched 50 units and sold three at a median price of S$2,215 psf.
  2. Nim Collection, a 99-year leasehold landed development, launched 26 units and sold three units as well, at a median price of S$1,661 psf.

Making a comparison with past year, Ong Teck Hui, national director of research & consultancy at JLL,  said Feb 2018’s figures were actually comparable to those in January 2017 – the Chinese New Year month last year. with some 108 units launched and 382 units sold then.

Huttons Asia - New Home Sales in Feb

“So the low-key performance in February is not indicative of a market slowdown,” he added. “Notwithstanding the festive period in February and the dearth of new launches, buyers were still house-hunting among previously launched projects, resulting in sales from these accounting for 98.4 per cent of total new private home sales during the month. This is indicative of ongoing interest among home buyers.”

Developers are not sitting back this period either. It was noted that the average psf for previously launched projects have rose, and they are expected to continue to time their launches to benefit from a further recovery in residential prices.

For example, median prices at Kingsford Waterbay at in Upper Serangoon have increased from S$1,111 psf in March 2015 to S$1,349 psf in Feb 2018. Grandeur Park Residences near Tanah Merah MRT has also seen its median price rise from S$1,406 psf at launch in March 2017 to S$1,487 psf in Feb 2018, as it reaches its 90-per-cent sold mark.

Year-on-year, sales suffered a 61.5% drop from the 979 units sold in Feb 2017. This is mainly due to the lack of ECs as there will only be two EC launches combined in both 2018 and 2019.

This also means the depleted supply was part of the main cause of the drastic fall in sales.

It is noteworthy to observe that the recent EC – Hundred Palms Residences that is situated at Yio Chu Kang Road, faced a high demand as the 531 units were sold out just under 7 hours last year. Excluding Rivercove Residences which is yet to be launched, there were only 212 unsold EC units in projects under marketing. This is only a small fraction of the 2,514 unsold EC units being marketed one year ago.

Analysts expect home buyers and upgraders to move quickly to purchase existing stocks of available EC units especially before prices start to increase, as anticipated to after the government sold the Sumang Walk EC site to a City Developments joint venture at a record land price of S$583 psf per plot ratio, which could translate to a break-even cost of close to $1,000 psf for its completed units.

If the market sentiment continues to remain sanguine through the year, the primary market sales could range between 11,000 and 14,000 private housing units in 2018.

About Author

This news update is written and submitted by Gary Lee, owner of margaretville.sg. Gary is an expert and experienced realtor who knows the Singapore market in and out. He specializes in HDB and Condominiums investing.

Everything you need to know about The Garden Residences at one glance

Everything you need to know about The Garden Residences at one glance

About The Garden Residences

The Garden Residences is a 99-year condominium launched in Serangoon North Estate and Serangoon Gardens. An iconic building in the vicinity, designed with space, living, and uncompromising in views and locality. Led by Keppel and Wing Tai Joint Venture, it will be a building for the ages, for the generations with luxurious fittings and incomparable qualities.

The site is within URA’s Serangoon Planning area. Comparative developments in the area includes Kensington Park, Serangoon Ville Enbloc by Oxley Holdings. Slightly further to the East will be Terrasse. There has been a drought for new condominium launches in the estate and so The Garden Residences together with Serangoon Ville will rejuvenate and revitalize the area, bringing value and injecting a lease of excitement and opportunities into the estate

Park Colonial Location Map

This land parcel on original address of 15 Serangoon North Avenue 1 has recently been tendered by major and giant property developers, Keppel Land and Wing Tai Holdings. This site was successfully bidded and now will house the upcoming development, The Garden Residences Serangoon, it is an ideal place planned to become a residential condominium ideal for individuals looking to settle in this private and charming area of Singapore.

The top bid for this highly competitive site for The Garden Residences site reached an impressive $446.28 million from the Joint Venture Developers, worthy also to note with the second-highest bid of $418.7 million having been placed by Frasers Centrepoint’s FCL Residences. Experts and land economists have noted these aggressive bids by many competing property developers recently as a reflection of the rising value and brighter optimism of Singapore’s real estate market.

Read More: The Garden Residences Prices & Project Details

Notable Price Bids

  • This public tender for a private residential site in Serangoon North Avenue 1 attracted 16 bids.
  • Corson and Wingjoy Investment – units of Keppel Land and Wing Tai Holdings – jointly placed the top bid of $446.28 million, the Urban Redevelopment Authority (URA) said on Thursday (July 27).
  • The price works out to about $964.8 per sq ft per plot ratio for the 99-year leasehold plot, which could yield 505 private homes.
  • The top bid was about 6.6 per cent higher than the second of $418.7 million tabled by FCL Residences.
  • Singland Homes and UOL Venture Investments jointly submitted the third highest bid at $417.2 million.
  • The site has a land area of 17,189.1 sq m and permissible gross floor area of 42,973 sq m.
  • It was put up for sale under the confirmed list of the Government Land Sales programme for the first half of the year.

The Garden Residences Price History

Reasons to Invest in The Garden Residences

  • Excellent Connectivity
  • Near Prestigious Schools and Education Hub
  • Centralized Location and Minutes to Orchard Road, Vivocity, CBD and Marina Bay
  • Near to Amenities such as shopping centres and Chomp Chomp Food Centre.
  • Strong Tenant Base and expatriate demand from Lycee Francais de Singapour
  • Strong Tenant Base from Surrounding Business Parks such as Amk Industrial Park and Serangoon North Industrial Estate
  • Great for Families near good schools and strong amenities
  • Luxurious Living and Fittings

The Garden Residences Logo

Area is one of the vital things that you have to consider when buying Singapore condos. Before you can really decide the best area for your home, you should decide first the kind of neighborhood that you need to live in. It’s fortunate that these properties are situated in the most brilliant areas in the city. Obviously it is as yet imperative to decide the correct area that you needed for your home before you at last settle on a choice keeping in mind the end goal to maintain a strategic distance from laments later on. You need to remember that usefulness is critical and the area must give the specific advantages you are searching for.

Jui Residences Condo Enbloc – Latest Update

Jui Residences Condo Enbloc – Latest Update

Jui Residences Condo is the latest development by SDB Singapore, Selangor Dredging Berhad (SDB). Located at 1177 Serangoon Road, it is situated in an established HDB estate with plenty of new developments, including minutes drive to Paya Lebar Hub, and a majestic water view of Sungei Kallang.

The condo land parcel at Jui Residences received a top offer of S$47m for the 31,705 sqft land plot of former building – National Aerated Water Company. SDB will work with Singapore in the conversation of nearby heritage buildings, and this residential estate will be one of the prime city fringe development.

SDB International

The project is officially announced at the end of 2017 with indicative prices expected to be released after CNY 2018. For starters, one may refer to the following Serangoon Masterplan by URA to get an idea of the estate Jui Residences Condo is developed in.

URA Serangoon Masterplan for Jui Residences

The building will be worked by Selangar Dredging Berhad to be transformed in a “unique and lively commercial area”, said Mr The Lip Kim, the managing director of SDB, and it lies next to a park connector. There will not be a fence along the main road and river, meaning that it will welcomed the public for a close up look and personal with this heritage gem.

Source: Jui Residences Condo Project Details

Jui Residences Condo – Own a piece of Heritage

National Aerated Water Company is a Heritage Site that is a landmark with a rich history and is part of the whole DNA of this district. Kallang used to be industrial, and full of brickmaking kilns and sawmills. The now-famous St James Power Station was also in the national monument industrial heritage along with Kallang Airport and also Fort Factory.

With the commercial development in the area, here’s what we can expect Jui Residences Condo to entail:

The price psf will only be released after CNY 2018. Do register early with the Jui Residences Official Developer Team to keep updated with the latest news. For now, we are certain there will be at least 1 to family bedroom options, with a total of 1177 units. The estimated psf will be aligned with surrounding Condominiums to keep it competitive by SDB.

Here are the top 6 reasons why we expect the prices of Jui Residences to be competitive (and investment worthy!):

  • Own a piece of Heritage on this development
  • Near Prestigious Schools and Education Hub
  • Well connected via Expressway at Doorstep and Serangoon Road
  • Plenty of Amenities in Mature Estate
  • Freehold Property
  • Proven Track Record and Quality Fittings by Selangor Dredging Berhad

Jui Residences Condo – Site Location Details

Location Map and Surrounding Amenities

Jui Residences Location Map

Jui Residences Condo will be beside Potong Pasir MRT. Residents will find transportation convenient and minutes to shopping malls like The Venue Shoppes, as well as local wet market Boon Keng Market. Here are some amenities that will be situated closeby: Kallang Community Club, Potong Pasir Town and Market, and The Poiz Centre.

Education wise, Potong Pasir & Serangoon is known for the variety and strength of the education facilities and options. There is Bendemeer Primary and Secondary School, St Andrew’s Primary and Secondary, as well as St Andrew Junior College (SAJC). This covers a wide array of education options for a child from teenage to adult.

Register for Early Preview for Jui Residences Condo Singapore

URA’s CEO Mr Lim Eng Hwee said: “This building is not only historically significant as a familiar landmark along the Kallang River, it also holds fond memories for Singaporeans for the popular soft drinks it produced from the 1950s to 1990s”

To find out more, do sign up for the Jui Residences Show Flat.

6 Reasons Why Harbour View Gardens is the Perfect Enbloc Condo To Invest In

6 Reasons Why Harbour View Gardens is the Perfect Enbloc Condo To Invest In

Harbour View Gardens is a 99 years condo situated along Pasir Panjang Road. It will have direct connectivity to West Coast Highway and within walking distance to Haw Par Villa. Previously, it has gone through a series of tender before being successfully tendered by Roxy-Pacific at a bid of S$33.25m.

The site is within URA’s Queenstown Planning area. Comparative developments in the area includes The Orient, The Verandah Residences, One Residences. Nearby developments includes Icon@Pasir Panjang, Viva Vista, and Parc Imperial.

[See more Harbour View Gardens Project Details]

This leads to the top 6 reasons why this condo Enbloc will be worth a look:

Reasons to invest in Harbour View Gardens

1. Excellent Connectivity via West Coast Highway and AYE

Having a strong transport connectivity in terms of public road networks and MRT stations distance, residents living in Harbour View Gardens will enjoy seamless connectivity to the city and business nodes.

This means it offers the convenience in a congested city like Singapore, and going to work will be a breeze.

2. Walk to Haw Par Villa MRT Station

The close proximity to Haw Par Villa (and even Pasir Panjang MRT Station) means you can easily walk and get access to public transport.

From Haw Par Villa MRT, you are:

  • 4 Stops to Harbour Front MRT
  • 6 Stops to Jurong Lake District
  • 5 Stops away to Sentosa Island
  • 2 Stops Away to MapleTree Business City
  • 10 Stops to Orchard
  • 6 Stops to CDB/Marina

Forget driving when you are so close to the main attractions and CBD of Singapore.

Harbour View Gardens Location Map

3. Near Prestigious Schools and Education Hub such as NUS/NUH

If you are looking to get an ideal location for your children, Harbour View Gardens Singapore could be perfect for you.

NUHS as an Academic Health System will improve the health of our community through better and more cost-effective care, nurturing the next generation of healthcare professionals, world class research and empowering people to take ownership of their health.

The prestigious schools nearby provides a merit education journey for your children, so you don’t have to go far or worry about long distance commuting to schools.

4. Centralized Location and Minutes to Orchard Road, Vivocity, CBD and Marina Bay.

If you are one for shopping and visiting Singapore scenic attractions, you are in for a treat.

Harbour View Gardens is situated along Pasir Panjang Road and is one of the centralized location within Singapore. With such an location, you can travel to metro shopping areas with ease.


5. Strong Tenant Base from Surrounding Business Parks

Harbour View Gardens is near important hubs that is part of Singapore’s URA Masterplan for business sectors. They include One-North, HarbourFront Precinct, Alexandra Precinct, Fusionopolis, and Holland Village.

One of the noteworthy hubs, the Mapletree Business City, is a Grade-A integrated business Hub, modernised and revitalised the precinct. The total GFA Gross Floor Area is almost two million sqft.

  • MBC will have the ARC aka Alexandra Retail Centre, it is a 3-storey shopping and convenience mall that will add 89,000sqft of retail space and 75 retail shops made up of a mix of restaurants, café, supermarket and banking facilities.
  • The next and final stage of rejuvenation will see Mapletree transform The Comtech into the second phase of MBC, MBC II. MBC II will complement the existing state-of-the-art business facilities at MBC with new elements such as a sunk-in amphitheatre that rest in the middle of a lush green landscape, blending harmoniously with the nature parks located in the area. It will also feature innovative and adaptive space solutions, which will be supported by retail and F&B options. MBC II will also be home to Singapore’s tallest business park at 30 storeys. The completion of MBC II (expected in 2016) will reinforce MBC as a first-rate business park concept, further underpinning the development’s place as the centrepiece of Alexandra Precinct.

6. Freehold land in land-sparse Singapore

With Singapore getting more cramped and land-sparse, it is rare to find freehold units. Most offer 30 years now which is not ideal for both investing and living.

Harbour View Gardens will be a rare find amidst our real estate landscape, and be sure to keep track of this development to find out how it progresses.

If you are looking for renovation and home decoration for your new unit, feel free to contact us through the developer here: https://harbourviewgardens.com.sg/contact-us

Office Interior Design Singapore

Office Interior Design Singapore

Office interior design is just as important regardless of whether the office is situated at home or in a corporate building. In both cases, a lot of forethought and proper planning will produce the best results. The ideal office should be comfortable and safe, functional and attractive, with everything in its optimum place for maximum productivity and ease of use. Therefore it is important that you choose the best and the most appealing office interior design Singaporefor your home and turn it into a comfortable and attractive place.

office renovation singapore

It is important to get the interior of your office or home right. Hiring a professional can go a long way in transforming the work environment into a functional and aesthetically pleasing environment. Therefore, it is important to take the time to collect information and compare several designers to ensure you are making an informed decision. A properly designed office space has the ability of increasing workers morale and productivity. Employees are ready to maximize their output, but this is often curtailed by an uninspiring and tired workspace. Select the best office interior design Singapore.

Interior - Carpenters

In this modern world, it is really vital that a company keeps their office modern. But keeping an office is not as easy as a person will think. It requires genuine planning and some significant changes in the structure of the office to provide it with a better and modern look.

Most Famous And Attractive Office Interior Design Singapore

To be brief, interior design is a priority to almost all the people managing offices. From my assumption and as many people think, the furnishing of an office plays an important role in providing an office with a certain look. Therefore choose the best office interior design Singapore.

To improve the morale and productivity it is very necessary to have a right interior design of the working are or environment. The main importance for the office interior design is the overlook of the office. This could be the deciding factor in a failure or success of a business. So take it is an extreme matter. It had been seen that normally only the large companies are paying attention to the design the interior of the workspace or offices, but it is also important for the small companies to follow the same pattern so that working environment can be improved. Henceforth, choose the best office interior design Singapore.

However, before hiring designers for the interior of the office, some factors need to be considered first. Firstly, the budget for designing should be predetermined, as without proper planning it can exceed. Secondly, the nature of work of the occupants should be considered and properly conveyed to the designer. Assessing and incorporating the nature of work in designing process helps in creating practical interiors. Office Interior designs that reflect the objective or theme of the company are more effective and offer greater benefits. Henceforth, choose the best office interior design Singapore.

While there is always a desire to create a working environment that is pleasing to the eye, there are other reasons behind such an investment too. The particular office design ought to be much more, encouraging positive things such as calmness, confidence and imagination, and such practical aspects as communication, industry and initiative. The overall benefit to a business is a higher level, and usually higher quality, of work done, planned and generated. Therefore, choose the best and the most appropriate office interior design Singapore.