Issue 18

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

CONTENTS
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Singapore Property News This Week

FROM THE

EDITOR

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Overseas Property Investment: What You Should Know Before You Buy

Welcome to the 18th edition of the Singapore Property Weekly. Weve revamped the look of our magazine. Hope you like it!

p9 Resale Property Transactions (September 3-9) p12 Singapore Property Classifieds #8

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SINGAPORE PROPERTY WEEKLY Issue 18

Singapore Property This Week

Residential News
HDB launched over 8,200 flats; largest supply offered in a launch so far HDB launched over 8,200 flats for sale under its BTO and SBF exercises; this number is said to be the biggest number of flats offered in a single launch so far. 5,415 new flats in Sengkang, Punggol, Jurong West, Jurong East, and Ang Mo Kio towns will be launched under the BTO projects; while, another 2,847 flats located in more than 15 matured and nonmatured estates will be launched under the SBF exercise. In November, HDB will introduce an additional 4,200 BTO flats. HDB is launching so many flats in order to meet the expected rise in demand for flats due to the rise in income ceiling. Biggest en bloc sale for 2011 so far: Oxley Holdings bought Hong Leong Garden Shopping Center at $171.128 million A $171.128 million acquisition of Hong Leong Garden Shopping Center by a consortium led by Oxley Holdings made its way to the biggest collective sale in term of value in 2011 so far. Zoned for Residential with Commercial and 1st storey, the 956-year-leasehold mixed development at West Coast Way has a gross plot ratio of 1.6 and land area of 150,816 sq ft. From this sale, apartment owners can receive about $1.17 million to $1.64 million each, while shop owners can receive about $792,000 to $1.51 million each.

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SINGAPORE PROPERTY WEEKLY Issue 18 Parkway View is put up for collective sale with a stated price of $81 million Situated along Marine Parade Road, freehold residential redevelopment plot Parkway View has been put up for collective sale with an asking price of $81 million (approximately $1,496 psf ppr). Zoned for residential use, the site has a gross plot ratio of 2.1 and an area of 25,787 sq ft. The current 15-storey development, which contains 26 units between 129 sq m and 332 sq m, can be build up to a maximum of 24 storeys. The tender ends at Oct 27, 3pm. 200 units released are priced somewhat higher than the initial $866 psf. Two- and fourbedroom units are most popular. Some market watchers think that the high price for units at The Luxurie (another condo project located nearby) has drawn buyers to buy units at A Treasure Trove. Commercial News Office plot at Robinson Road drew top bid of only $311.777 million; Top bidder Far East Organization intends to invest $520 million to develop office project It is obvious that developers caution in the residential segment have spread to the office sector. An office plot at Robinson Road/Cecil Street, which is next to Capital Tower, drew a top bid of only $882.03 psf ppr ($311.777 million); the top bid submitted by Far East Organization falls below the range of $920 psf ppr to $1,500 psf ppr

Sim Lian sold a further 105 units at A Treasure Trove Over the weekend, Sim Lian had successfully sold another 105 units for its 99-year leasehold condo project A Treasure Trove, totaling the number of units sold to 625. Also, Sim Lian released an additional 200 units for the 882unit condo project, totaling up the number of units released for sale to 790. The additional

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SINGAPORE PROPERTY WEEKLY Issue 18 that property consultants had predicted. Furthermore, the top bid is merely 1.1% higher than the $872.16 psf ppr obtained by a Paya Lebar office plot this April. Far East Organization will be investing approximately $520 million (inclusive of $311.777 million land price) into developing a 33-storey office building on the 99-year leasehold plot. The development will consist of small-sized and large-sized office units of 1,075 sq ft and 10,765 sq ft respectively. With a NLA of 296,000 sq ft, the breakeven cost equates to $1,756 psf. years, has a site area of approximately 1.17 ha and a maximum permissible GFA of 11,739 sq m. Separately, Colliers International will put a 14,753 sq ft freehold four-storey industrial development at 243 Alexandra Road up for sale via a tender. The site is zoned for Business 1 use and has a plot ratio of 2.5. The tender ends on Oct 20. Chevron House up for sale again; this time round at an expected price of $656.6 million Deka Immboilien of Germany, which had bought Chevron House at $2,083 psf ppr ($547 million) in September 2010, is putting the building up for sale with an expected price of $2,500 psf on NLA ($656.6 million). The monthly rents in Chevron House average between $12 psf and $13 psf for retail space, and $7.50 psf for office space. Sitting on a site with a remaining lease of 77 years, Chevron Houses 262,650 sq ft NLA consists about 230,000 sq ft of office space and 32,000 sq ft of retail space.

URA is launching tender for office site at Mountbatten Road; Colliers International is launching tender for 14,753 sq ft industrial site at 243 Alexandra Road URA decided to put an office site at Mountbatten Road up for sale via public tender after an anonymous developer expressed interest to bid for the site with at least $8,210,250. The site, which is zoned for office development and has a lease period of 15
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SINGAPORE PROPERTY WEEKLY Issue 18 Property investment sales decreased 55% from Q2 to Q3: Savills Singapore Investors have been holding back their purchases in the mid of economic uncertainties. Figures from Savills Singapore showed that investment sales of property was only around $3.8 billion this quarter, a 55% decrease from the $8.5 billion in Q2. Savills data also showed that total residential investment sales (including GLS sites) decreased from $4.4 billion in Q2 to around $1.77 billion in Q3 to date. Also, office investment sales decreased drastically from $1.1 billion in Q2 to $261.8 million in Q3 so far. However, industrial investment sales (excluding GLS sites) increased from $418.6 million in Q2 to $1.07 billion in Q3 to date.

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SINGAPORE PROPERTY WEEKLY Issue 18

Overseas Property Investment: What You Should Know Before You Buy
By Harn Ho For the many of us living in shoe-box flats in Singapore, the idea of owning a spacious overseas property at a fraction of what it would cost here often proves too tempting to ignore. If youre seriously thinking of buying your first overseas property, read on for some tips before taking the plunge.
1. Go to Exhibitions As the Singapore dollar continues to strengthen against the Euro and greenback, more Singaporeans are realizing they can get more bang for their buck from an overseas property. With increasing demand, international developers and sales agencies have responded by bringing regular exhibitions to our shores.

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SINGAPORE PROPERTY WEEKLY Issue 18

Advertisements for these free exhibitions usually come out from Thursday to Sunday almost every week, and the Straits Times is one of the best sources of information on where and when these exhibitions are held. Most of these events are held at easily accessible hotels around town, and some will also arrange for a free (no obligation) seminar session during the exhibition itself.

like the level of safety, accessibility to public transport options, as well as the traffic during rush hour and noise and air pollution levels.

3. Financing If you plan on financing your overseas property, bear in mind that the LTV (loan to value) will play a significant role in how much house you end up being able to afford. Generally, for overseas property, local banks such as OCBC and DBS will finance from 60% to as much as 80%, depending on the country the property is located in.
International mortgage brokers may also be able to extend a loan in countries such as the USA. Unlike in the case of local property purchases, Singaporeans are not bound by the recent cooling measures introduced by the Singapore government to limit the 2nd mortgage to a maximum of 60% ,

2. See It For Yourself While visiting exhibitions is a good start to making a sound investment, it is no substitute for an actual visit to the property itself. As photographs (and sometimes agents) can often be misleading, many property experts would never consider buying a property without taking a trip down to inspect the property on their own. Visiting the property will also give you a sense of the neighborhood, and help you judge things
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SINGAPORE PROPERTY WEEKLY Issue 18

and can borrow as much as their credit rating allows for overseas property. As many banks will partner with developers to offer a competitive financing package, it is a good idea to ask your agent if such collaboration exists. Taking out a loan with the preferred bank of the developer may be a good idea, as the bank would have in-depth knowledge on the property and may be able to offer a higher LTV. However, it is always advisable to shop around to see who offers the best loan package to suit your needs. Although overseas property investors should still look at the fundamentals such as location, job market, as well as supply and demand, there are other factors unique to overseas property investments to consider. In my next article I will cover more tips on how to maximize your rate of return on your capital.

Harn Ho is a freelance journalist providing professional services in Data Trend Analysis and Economist Real Estate Insights. She has a MSc Economics (Honours) from Northern Illinois University and a BSc Economics (Honours) from Missouri State University.

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SINGAPORE PROPERTY WEEKLY Issue 18

Non-Landed Residential Resale Property Transactions for the Week of Sept 3 - 9

Postal District 3 5 5 5 8 8 8 8 8 9 9 10 10 10 10 10 10 10 11 11 12 12 12 14 14 Project Name CENTRAL GREEN CONDOMINIUM PARC IMPERIAL BOTANNIA BLUE HORIZON SOHO 188 URBAN LOFTS CITY SQUARE RESIDENCES KERRISDALE KERRISDALE THE PROMONT ASPEN HEIGHTS ARDMORE PARK DLV. BOTANIC GARDENS VIEW SPRING GROVE CHATELET VILLA AZURA CASABELLA M21 MANDALE HEIGHTS TWIN HEIGHTS OLEANDER TOWERS NEW COURT ASTORIA PARK ATRIUM RESIDENCES Area Transacted Price Tenure (sqft) Price ($) ($ psf) 1,292 1,450,000 1,123 99 388 660,000 1,703 FH 1,206 1,380,000 1,145 956 1,163 1,160,000 998 99 452 728,000 1,610 FH 431 668,000 1,551 FH 1,518 2,180,000 1,436 FH 1,281 1,326,000 1,035 99 1,259 1,260,000 1,000 99 2,013 4,100,000 2,037 FH 3,100 4,200,000 1,355 999 2,885 8,900,000 3,085 FH 1,119 2,000,000 1,787 FH 1,410 2,450,000 1,737 FH 1,012 1,600,000 1,581 99 1,808 2,280,000 1,261 FH 1,335 1,520,000 1,139 FH 3,531 3,980,000 1,127 FH 1,066 1,480,000 1,389 FH 764 960,000 1,256 FH 1,421 1,480,000 1,042 FH 1,152 1,140,000 990 99 1,152 1,070,000 929 FH 1,001 935,000 934 99 969 865,000 893 FH

Postal District 14 14 14 14 15 15 15 15 15 15 15 15 15 15 16 16 16 16 16 16 17 17 18 18 19

Project Name SIMS GREEN MORO MANSIONS WING FONG COURT THE SUNFLOWER AALTO AALTO THE WATERSIDE COTE D'AZUR THE MAKENA ONE AMBER THE WATERSIDE COSTA RHU COSTA RHU CRESCENDO PARK COSTA DEL SOL THE BAYSHORE CASAFINA THE BAYSHORE THE TANAMERA CASCADALE EDELWEISS PARK CONDOMINIUM FERRARIA PARK CONDOMINIUM THE TROPICA MELVILLE PARK STADIA

Area Transacted Price Tenure (sqft) Price ($) ($ psf) 1,238 938,000 758 99 1,195 888,000 743 FH 990 710,000 717 FH 1,658 878,000 530 FH 1,550 3,960,000 2,555 FH 1,442 2,379,300 1,650 FH 2,400 3,500,000 1,458 FH 1,152 1,480,000 1,285 99 1,636 2,068,000 1,264 FH 1,701 2,120,000 1,247 FH 2,400 2,950,000 1,229 FH 1,776 2,028,000 1,142 99 2,056 2,100,000 1,021 99 1,184 1,070,000 904 FH 1,313 1,500,000 1,142 99 1,270 1,170,000 921 99 1,270 1,138,000 896 99 1,184 1,045,000 883 99 1,518 1,310,000 863 99 1,550 1,085,000 700 FH 1,453 1,230,000 846 FH 936 762,888 815 FH 1,238 928,000 750 99 1,378 975,000 708 99 560 705,000 1,260 FH

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SINGAPORE PROPERTY WEEKLY Issue 18

Postal District 19 19 19 19 19 19 19 20 20 20 20 20 21 21 21 21 22 22 22 22 23 23 23 23 23 Area Transacted Price Tenure (sqft) Price ($) ($ psf) 1,163 1,400,000 1,204 FH 1,184 1,250,000 1,056 99 947 918,000 969 FH 947 900,000 950 FH 1,249 1,105,000 885 99 1,216 950,000 781 99 1,173 825,000 703 99 700 820,000 1,172 FH 1,216 1,095,000 900 99 1,270 1,080,000 850 99 1,485 1,250,000 842 99 1,507 1,208,000 802 99 969 930,000 960 FH 1,119 1,070,000 956 999 1,227 1,000,000 815 FH 1,163 925,000 796 99 861 920,000 1,068 99 1,227 990,000 807 99 1,206 970,000 805 99 1,335 770,000 577 99 1,453 1,400,000 963 99 1,259 1,010,000 802 99 1,313 1,000,000 761 999 1,206 838,000 695 99 1,206 820,000 680 99

Project Name AMARANDA GARDENS SUNGLADE 8 EDEN GROVE TANGERINE GROVE CHILTERN PARK RIVERVALE CREST EVERGREEN PARK BOONVIEW GRANDEUR 8 BISHAN POINT BISHAN POINT BISHAN PARK CONDOMINIUM SYMPHONY HEIGHTS SPRINGDALE CONDOMINIUM PALM RESIDENCE LE WOOD THE LAKESHORE PARC OASIS THE MAYFAIR PARK VIEW MANSION YEWTEE RESIDENCES GUILIN VIEW THE LINEAR PALM GARDENS PALM GARDENS

Postal District 23 26 27 27 27

Project Name MAYSPRINGS SEASONS PARK SELETARIS YISHUN SAPPHIRE YISHUN SAPPHIRE

Area Transacted Price Tenure (sqft) Price ($) ($ psf) 1,550 1,010,000 652 99 1,249 965,000 773 99 1,345 1,008,000 749 FH 1,152 820,000 712 99 1,216 850,000 699 99

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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SINGAPORE PROPERTY WEEKLY Issue 18

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SINGAPORE PROPERTY WEEKLY Issue 18

Singapore Property Classifieds #8

For Sale
D11 Adria @ Derbyshire Rd. 18F 2BR 850sf FH ask $2000psf. Novena/Newton MRT, United Square/Novena Medical Hub/SJI. Call owner 97505201

Bliss Residences @ Kembangan. FH 1500+sf 3+1BR Penthouse. Only $1000psf. 1 min to MRT, 15 min to CBD. Rooftop pool and BBQ. TK Tan 98206228.

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