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Issue 117

Copyright 2011-2013 www.Propwise.sg. All Rights Reserved.

CONTENTS
p2
p7 p11
Asking the What, Why and How
of Properties Singapore Property News This Week Resale Property Transactions (July 31 August 6)

FROM THE

EDITOR

Welcome to the 117th edition of the Singapore Property Weekly. Hope you like it!

Mr. Propwise

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SINGAPORE PROPERTY WEEKLY Issue 117

Asking the What Why and How of Properties


By Property Soul (guest contributor) Time flies. My little girl recently turned two. Happy birthday sweetheart! With a limited vocabulary, her favorite words are what, why and how. And she enjoys dragging the vowels to show her emotions. Here is a typical example: "See what we have in the fridge." "Whaaat?"

"Fresh milk or orange juice?"


She opens the freezer and points at the icecream. "No, you can't have this for breakfast."

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SINGAPORE PROPERTY WEEKLY Issue 117 "Whyyy?" "Because you'll have a stomach upset." "Hooow?" "Er ..." "No no," she shakes her head and walks away. A toddler asks what, why and how all the time. But as we grow older, we gradually lose our natural curiosity to question the things around us. Perhaps we are too lazy and don't bother to know what is happening. Maybe it is too tiring to find an explanation to everything. Or we have tried but still have no answer to our question. Likewise, when people are buying or investing in properties, many don't bother to
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ask questions. Some have asked, but they haven't asked the right questions. Asking the 'what' questions

This involves finding and comparing all the offers and options in the market:
- What is available in the uncompleted and resale market? - What is the price difference for new and old flats in the same district? - What prices were people paying at the top and bottom of the previous property cycles? - What are local sellers offering compared with what property seminars are marketing in the same overseas market? Asking the 'why' questions Understand the reasons why things happen the way they are.
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SINGAPORE PROPERTY WEEKLY Issue 117 This includes asking questions such as: - Why is there no choice but to buy at the current market? market conditions change? - How to look for good tenants for projects in this area?

- Why are developers able to sell new projects at future prices?


- Why the government has to constantly announce new cooling measures? - Why the current market is now made up of first-time buyers and upgraders buying new projects? Asking the 'how' questions This involves validating information you have received to find out the truth, including answering questions such as: - How to generate a decent rental return buying at the current market?

- How to find future buyers to offload properties bought in an overseas market?


Having the courage to say 'No' If you have asked yourself the right questions, and have done your homework to find some answers, you should be able to form your own opinion. Never go with the crowd blindly and make a property decision based on the comments of the people around you. Don't fall into the trap of buying a place using the criteria of industry analysts, property developers or marketing agents. Remember that this is your home and you are the one paying for it.
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- How to maintain a positive cashflow when


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SINGAPORE PROPERTY WEEKLY Issue 117 As soon as you are not being unrealistic, you should make decisions using your own set of criteria. If your priorities are not met, you don't have to buy. Whether the property you bought is good or bad, it is not your fate, it is your choice. You should have the choice to say 'No', the courage to walk away and stand by what you believe in. Dietrich Bonhoeffer, a German anti-Nazi theologian, once said: "It is the nature, and the advantage, of strong people that they can bring out the crucial questions and form a clear opinion about them. The weak always have to decide between alternatives that are not their own." As I am writing this, my two-year-old is standing behind me, getting into a tub of icecream with a spoon she finds somewhere. "What are you eating?" I ask.

"Whaaat?"
"Mommy says no ice-cream for breakfast." "Whyyy?" "So you're not listening to Mommy?" "Hooow?" I try to grab the ice-cream from her but in vain. "No no," she smiles mischievously and walks away. By Property Soul, a successful property investor and enthusiast who shares her experiences and knowledge on her blog.

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SINGAPORE PROPERTY WEEKLY Issue 117

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SINGAPORE PROPERTY WEEKLY Issue 117

Singapore Property This Week


Residential
Property market set for 2016 incident due to abundant supply It is reported that the sellers stamp duty (SSD) should be relooked to prevent a collision with a record number of private homes released to the market in 2016. According to Orange Tees data, a total of 33,555 units will make their ways into the property market in 2016, compared to 15,503 units this year. Among those, 27,181 units originate from newly launched projects, and 6,374 units are from the stash of previously locked-up units with owners choosing to hold onto their properties and not incurring any
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SSD. In 2011, the holding period for the SSD scheme was raised from three to four years, and rates increased steeply up to a maximum of 16 percent. (Source: Business Times)

More than 200 units sold at Tembusu


More than 200 units have been sold at The Tembusu, Wing Tai's condo project in the Kovan area. The average price for the 337unit freehold condo is between $1,400 and 1,500 psf. The project is believed to be the first residential project to attract a good reception after the Total Debt Servicing Ratio (TDSR) framework took effect on June 29.

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SINGAPORE PROPERTY WEEKLY Issue 117 The project's showflat had already opened two weekends before the sales officially started. Entry to the showflat to VVIPs and those who had pre-registered was by of the Total Debt Servicing Ratio (TDSR), there has been an increasing interest towards executive condominiums (ECs). Although no new EC projects were launched, 112 ECs

balloting. Analysts estimated that developers


could have sold fewer than 500 private homes last month. Len Siew Lian, general manager for property of Wing Tai said that the encouraging response can be due to the

were sold out of the 593 units moved


(including ECs), which constituted 18.9 percent of Julys total sales. On the other hand, ECs only constituted 14.8 percent of Junes total sales (313 ECs were sold, out of

comfortable sizing of the freehold apartments


in the established Kovan area, the quality design and finishes. (Source: Business Times)

total sales of 2,119 units) even though more


than 600 ECs were released in June. SLP International executive director of research and consultancy Nicholas Mak said the phenomenon proved that TDSR framework

Interest in ECs increases as private home


sales drop As sales of private homes dropped last month due to limited launches and the introduction

has shifted some home-buying demand,


especially among HDB upgraders, to the EC projects. (Source: Business Times)

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SINGAPORE PROPERTY WEEKLY Issue 117 Commercial Local potential investors eye offshore hospitality properties the hassle-free property management, and numerous property sweeteners to entice retail investors. (Source: Business Times) Sentosa Resort & Spa to be sold soon Sentosa Resort & Spa (formerly known as The Beaufort Singapore) is close to being sold at around $1 million per room, which translates to the transaction price past $200 million. The Sentosa has a gross floor area of about 312,000 sq ft with 215 rooms including the highly-acclaimed Spa Botanica , and a remaining lease of about 60 years. The site is believed to be the first resort hotel to be transacted in Singapore in recent years. (Source: Business Times)

Because
investment eyeing

the

Singapore
is

real

estate
more

scene offshore

becoming

challenging, local potential investors are sale-and-leaseback properties in the hospitality sector. For the

past few months, many investors have been


investing in such properties, which typically guarantee returns of around 6 per cent per annum for up to a decade or so. According to Isabelle de Wavrechin, chief executive of

French tourism management company Pierre


& Vacances, the biggest benefits of investing in offshore sale-and-leaseback hospitality properties - mainly in Europe and Asia are

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SINGAPORE PROPERTY WEEKLY Issue 117 CBD sites top bid at $1,112.44 psf A 99-year leasehold commercial site at Cecil Street/Telok Ayer Street has fetched the top bid at $1,112.44 psf ppr by Frasers Centrepoint. This was 18.8 per cent higher than the next highest offer by Far East Organization. Frasers Centrepoint group chief executive Lim Ee Seng said that he was comfortable with the group's bid price which would result in a breakeven cost of about $2,000 psf for a new development. At least 80 percent of the sites 830,564 sq ft maximum gross floor area must be set aside for office use. Strata subdivision of the project is not allowed. (Source: Business Times)

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SINGAPORE PROPERTY WEEKLY Issue 117

Non-Landed Residential Resale Property Transactions for the Week of Jul 31 Aug 6
Postal District 3 3 8 8 8 9 9 9 9 9 9 9 9 9 10 10 10 10 10 10 11 11 12 12 12 Area Transacted Price Tenure (sqft) Price ($) ($ psf) 1,464 2,350,000 1,605 FH 1,195 1,603,000 1,342 99 560 990,000 1,769 99 1,216 1,790,000 1,472 FH 538 750,000 1,394 FH 624 2,779,920 4,453 FH 1,658 4,377,000 2,640 FH 2,088 4,150,000 1,987 FH 883 1,720,000 1,949 FH 1,313 2,133,000 1,624 999 1,550 2,380,000 1,535 99 1,572 2,400,000 1,527 FH 1,249 1,900,000 1,522 FH 1,550 2,230,000 1,439 FH 5,909 20,386,050 3,450 FH 1,066 1,930,000 1,811 999 3,143 5,600,000 1,782 FH 1,496 2,416,000 1,615 FH 1,227 1,870,000 1,524 FH 710 985,000 1,386 99 1,259 1,900,000 1,509 99 1,755 2,490,000 1,419 FH 1,012 1,470,000 1,453 99 1,130 1,600,000 1,416 99 1,421 1,650,000 1,161 FH Postal District 13 13 14 14 14 15 15 15 15 15 15 15 15 15 15 15 15 15 15 16 16 16 16 16 17 Area Transacted Price Tenure (sqft) Price ($) ($ psf) 1,098 1,600,000 1,457 99 689 770,000 1,118 FH 1,184 1,250,000 1,056 99 1,163 1,068,000 919 FH 1,130 1,020,000 902 99 1,550 2,600,000 1,677 FH 1,249 1,840,000 1,474 FH 818 1,135,000 1,387 FH 624 830,000 1,329 FH 1,604 2,100,000 1,309 FH 1,227 1,509,210 1,230 FH 883 1,075,000 1,218 FH 1,464 1,730,000 1,182 FH 1,109 1,130,000 1,019 FH 2,131 2,130,000 999 99 1,270 1,150,000 905 FH 1,636 1,295,000 792 99 1,636 1,250,000 764 99 2,013 1,450,000 720 99 947 1,230,000 1,299 99 1,012 1,100,000 1,087 99 1,324 1,280,000 967 99 1,324 1,240,000 937 99 2,271 1,850,000 815 99 1,324 1,180,000 891 FH

Project Name THE ANCHORAGE QUEENS CITYLIGHTS CITY SQUARE RESIDENCES KENT RESIDENCES SCOTTS SQUARE RESIDENCES AT EMERALD HILL RIVERGATE ROBERTSON 100 ASPEN HEIGHTS THE QUAYSIDE PARC CENTENNIAL PARC CENTENNIAL PARC CENTENNIAL 8 NAPIER DUCHESS MANOR ORANGE GROVE RESIDENCES FIFTH AVENUE CONDOMINIUM CASA JERVOIS TANGLIN REGENCY AMARYLLIS VILLE M21 TREVISTA TREVISTA TWIN HEIGHTS

Project Name 8@WOODLEIGH DAISY LODGE CENTRAL GROVE CAMELLIA LODGE ASTOR AALTO AMBER RESIDENCES PALAZZETTO MABELLE KING'S MANSION ONE FORT PALM OASIS HAIG COURT LE CONNEY PARK KATONG PARK TOWERS SHEBA LODGE NEPTUNE COURT NEPTUNE COURT VILLA MARINA CASA MERAH THE BAYSHORE THE TANAMERA THE TANAMERA BEDOK COURT AVILA GARDENS

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SINGAPORE PROPERTY WEEKLY Issue 117


Postal District 18 19 19 19 20 21 21 21 21 21 21 22 23 23 23 23 23 23 27 28 Area Transacted Price Tenure (sqft) Price ($) ($ psf) 1,130 1,040,000 920 99 1,227 1,550,000 1,263 FH 1,109 1,150,000 1,037 999 1,539 1,480,000 962 FH 1,324 1,560,000 1,178 99 1,711 3,550,000 2,074 FH 1,808 3,560,000 1,969 FH 1,324 1,965,000 1,484 FH 1,572 2,050,000 1,304 999 1,399 1,500,000 1,072 FH 2,153 1,860,000 864 99 1,335 800,000 599 99 1,507 1,700,000 1,128 FH 1,249 1,400,000 1,121 FH 818 800,000 978 99 861 835,000 970 99 1,109 1,070,000 965 99 1,302 1,150,000 883 FH 872 600,000 688 99 1,206 1,050,000 871 99

Project Name CHANGI RISE CONDOMINIUM OASIS GARDEN ROSYTH VILLE NOUVELLE PARK RAFFLESIA CONDOMINIUM JARDIN JARDIN MAPLEWOODS THE BLOSSOMVALE SIGNATURE PARK MAYFAIR GARDENS PARK VIEW MANSION THE DAIRY FARM GLENDALE PARK MAYSPRINGS GUILIN VIEW HILLVIEW REGENCY HILLVIEW APARTMENTS ORCHID PARK CONDOMINIUM SELETAR SPRINGS CONDOMINIUM

NOTE: This data only covers non-landed residential resale property transactions with caveats lodged with the Singapore Land Authority. Typically, caveats are lodged at least 2-3 weeks after a purchaser signs an OTP, hence the lagged nature of the data.

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