Gambas Hao Yuan EC Woodlands Causeway Point

Some of the units will also have the option for customization and feature flexible layout configurations. Distinctively, the quarter’s weakened gross domestic product expansion is actually associated with slowing construction activity, using the sector struggling discouraging growth of 1.4 percent as compared with 4.1 percent in Q2 2014. There has been a .6% drop in the price of a completed private apartment. This was according to the NUS Singapore Resident Price Index.

Woodlands Avenue 12 EC at Gambas

It is made up into 10, 13-story blocks, which adds up to 505 EC’s. CDL holds a 99-year leasehold on the land jointly with TID. Electronic applications will be accepted. Between September 24 and October 4 and sales bookings will start on October 10. You will also find a good mix of apartments ranging from 7 or square feet for a two-bedroom, 2 1636 ft.² for a penthouse nestled within CDL’s development. Currently, there is no pricing information available for The Criterion. And the developer has come out to say, “Home buyers can look forward to an attractively priced project by a trusted developer with a strong track record,” said its group general manager, Chia Ngiang Hong in Hao Yuan Gambas EC.

Slight changes in apartment pricing are to be expected, said one noted property analyst. The 4 bedroom premium units come with ensuite bathrooms as well as luxurious wardrobe units. The newly released information shows a .6% drop from July 2 last month following of doldrums. fo rpricing that started in June and July.

Woodlands Avenue 12 EC

Nonetheless, price corrections are of greater concern. This section consists of five percent of the most costly residences in the country. On the other hand, a clear loss of asking prices is likely to be brought on by an external induce from the international economy, said Mizuho Bank’s Industry Economist Vishnu Varathan. Based on Knight Frank’s data, price levels in Singapore’s prime housing current market dropped by 7.3 percent in H1 2014. The amenities around the complex boast 58 facilities, which include a solar charging station for electric bikes as well as a microbubble spot.

As prices have begun to even out after months of decline and this, all comes out after mixed messages in some of the data that was released yesterday. What’s more, all 505 units will have an air-conditioning system that purifies the air, utilizing nanotechnology. Sluggish views as well as probabilities of extra drop in property prices will obstruct transaction quantities in the private real estate market, said Propnex. The Criterion EC overlooks both the Orchid Country Club and the lower Seletar Reservoir for Woodlands EC Causeway Point.


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Canberra link EC by Qingjian Sembawang

Any additional units for rental also offers renters with an increase of options to pick from. The worst-hit parts are the ones with no easy-access to amenities, like public transport. He went on to add, “the 3 months Singapore Interbank Offered Rate (SIBOT) will rise considerably next year as it is paid to the normalization of interest rates in the United States, which is expected to happen in the near future.” The private property market is generally accessible to only the top 20% of income earners for Qingjian Sembawang EC and their wages are tied to Singapore’s economic growth.

New Qingjian Canberra Link EC

“Transaction volume is likely to be just like the degree associated with the finaicial crisis period of time, which might be observed being a healthier adjustment for the residential market, presuming financial conditions do not change.” And even though the labor market has been very tight, it is mostly at the lower end, which includes occupations such as cleaners, production operators, and sales staff. Singapore developers will remain watchful and uptight and some may reduce prices to sell remaining units. New homes by developers will also be launched selectively, to examine current market conditions in Canberra EC Qingjian.

Propnex anticipates that project launches of 2014 will supply less than 10,000 units, a sharp decline compared 15,885 units unveiled during the past year as well as 21,478 units in 2012.Real Estate Watches also is convinced transaction quantities this coming year may drop far short of the annual average noted in the past five years for Qingjian EC Sembawang Road Canberra MRT. Those considering purchases now have to factor in higher interest rates for their monthly mortgage payments, which will further dampen transaction volume and caused more price falls.

Sembawang EC Qingjian

However, ERA agent Zola Tan mentioned desire continues to hold up in fully developed estates as well as those near MRT stations. Meanwhile, competition is most likely to even further expand as more suburban Qingjian Sembawang EC private homes are expected to be ready next year, said Ong. Some analysts believe that in 2016, The property prices may fall faster than they have so far. This is due to both rising interest rates and a slower economic growth.

North Point City, a forthcoming integrated development with close to a thousand residential units by Frasers Centrepoint, will certainly breathe a new lease of life into the area together with other integrated new projects in Singapore. This means wage earners can expect less in the way of pay raises, especially in the top 20th percentile of earners, who are watch closely as they are typically the ones buying private properties, this according to Francis Tan and economics with UOB.


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Lend Lease Paya Lebar

These figures mirror a move by tenants to quality who are relocating themselves from suburban areas to the city. The result of this is that the rates of rentals for condos and private apartments that are closer to the centre of the city for Lend Lease Paya Lebar have showed less of a decline than those in further away areas.

July market the 6th consecutive drop, month on month, for rents in residential areas of non-landed private homes overall, to 0.3%.

Another analyst has noted that, as a result of the mix of capped demand and a rising supply, a continuation of the downward pressure can still be felt for rents.

Paya Lebar Lend Lease Condo

A total of 9,945 private residences in Lend Lease Paya Lebar condo were given their Temporary Occupation Permits during the first half of 2015, based on data given by the Urban Redevelopment Authority. This figures is quite close to the 10,863 average annual completions of units occurring over a decade from 2005 to 2014.

Due to foreign labour conditions being tight in Singapore, the demand has stayed moderate. One example is the increase in the figure of employment pass holders, which had risen in 2014 to 3,8000, according to the data given by Ministry of Manpower. The contrast here is a very stark one when compared to 2011, where the figure rose by 32,100.

After a small climb in June of 0.1%, the overall rental index for the Housing Development Board dropped in July by 0.1%, month on month.


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Flora Drive Condo Hong Leong

The rate of vacancies for flats are close to a ten year high and it looks as if this rate could continue to rise even further, to record levels that have not been witnessed since the financial crisis in Asia. In the 2nd Quarter close to 9.2% of flats stood vacant. This is the highest figure since the end of 2005, where rates were at 9.8%.

The main reason causing this situation is the record amount of homes being completed, with 19,941 homes in the private market coming to completion last year. Adding to this is a further 42,606 homes to be completed in the private sector for 2015 and 2016. Close to 96% of these are non-landed properties. The Government’s actions to cool down a residential market that was booming is partly to blame for this over supply.

New Flora Drive Condo by Hong Leong

As a result, we are seeing the demand for housing not growing in balance with the supply, and this means that rents will be under ongoing pressure. But what can be done about this?

Fewer developments sites are being made available by the Government, however units at sold plots are only entering the market stream 4 to 5 years ahead.

Where demand is concerned, the key to breathing life into these numbers is immigration. However, this tends to be a largely unpopular option.

The amount of individuals coming into Singapore is a figure that the Government is keeping a tight reign on. It is also viewed this policy is what is behind this rate of vacancy that is so high.

To make matters worse is a global economy that is slowing down.


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Thong Sia Building The Criterion EC

It has been recently confirmed that one of Sin Capital Group’s members has closed on a deal to purchase the 26 storey Thong Sia building situated at Bideford Road, just across from The Paragon. Sin Capital Group is an Asian private investment group.

So far this year, this will be Singapore’s first collective purchase, as well as the biggest collective sale of a mixed use property for The Criterion EC.

As reported by The Business Times, this freehold building’s purchase price was $380 million, a figure that equates to $2,430 per square foot above its existing gross floor area. This sale price makes it the 2nd biggest collective sale over the past 7 years, after the fully commercial development known as Serangoon Plaza was sold in 2013 for $400 million.

The Criterion EC Building

Sin Capital Group was contacted but was unable to share any further information regarding the plans for redevelopment for this site as yet. However, they did share that they did not intend to change the site’s use and may opt to keep its existing structure, rather than demolishing it.

The redevelopment of this site into a mixed use commercial and residential project is being supported by the planning authority. At least 60% of the area has been earmarked for serviced or residential flats. From a zoning point of view, serviced flats fall under the category of residential such as The Criterion EC.


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Wandervale Sim Lian

Among the ten projects, the most marked increase in lit units from May 2014 to May this year was at The Interlace. In September 2013, this development obtained a Temporary Occupation Permit. At 11th June 2015 the development consortium, composed of CapitaLand, The National University, Singapore and Hotel Properties, had sold 882 of the 1040 units. The spokesperson for CapitaLand said the majority of the buyers were Singaporean Nationals for Wandervale Sim Lian.

Wandervale EC

The twenty-four storey development, which is situated on the ex-Gilman Heights site in Depot Road, has two, three and four bedroom units as well as penthouses.

The number of lit units at four luxury developments, The Marina Bay Suites, The Vermont on Cairnhill, The Laurels and Goodwood Residence had not increased much between May 2014 and May 2015. The developers of these projects had sold many of the units to foreign buyers. The developer of one of the four projects, which is situated in a popular district stated that 31% of the units on the development had sold to foreign buyers, Indonesians being well represented among these buyers for Wandervale Sim Lian, buyers permanently domiciled in Singapore accounted for a further 29% of buyers, Chinese buyers were well represented among this group, 30% of Wandervale buyers were Singaporean nationals and 10% of the units were bought by companies.


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Principal Garden UOL Condo

In a recent report, BNP Paribas stated that it was of the belief that immigration policies, along with the soon to come private Principal Garden supply, will make averting more drops in the prices of property even harder than is thought widely.

This view goes against the general belief that the authorities have enough controls put in place to maintain what has been referred to as a desired “slow bleed” of residential prices.

It ha been estimated by the bank that a further fall of 10% in private property prices is likely over the next couple of years. As a result, this could cause a wealth effect that is negative while constricting growth in private consumption.

Principal Garden UOL Condo

From their peak in mid 2013, there has been a 5.5% drop in private Principal Garden prices. BNP states that a closer look at underlying drivers and valuation metrics has suggested that the market has much further to go in order to correct itself before a bottom line can be called.

The general consensus of the general public and financial analysts have the view that the government is able to call an end, if it wishes to, to the drop in Principal Garden Condoproperty prices, according to the bank. The obvious way to achieve this would be to unravel the group of cooling measures that have been put in place over the last 7 years. It is also believed by many that an unravelling will more than likely occur just after the next general election takes place. (more…)

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Signature at Yishun

According to experts, individuals who are looking to buy a resale Housing Board apartment close to their parents, should look into financial support as the way to achieve this. What this could mean is that a higher resale grant could be offered or more buyers will be allowed to qualify for one for Signature at Yishun.

In a statement last Friday made by National Development Minister Khaw Boon Wan, the Government, in a bid to encourage closer living to extended families, has been looking into whether resale buyers such as these could qualify for more assistance.

At this time, first time buyers who are looking to purchase a resale flat with, or at least closer to, married children or parents, have the Higher-Tier CPF Housing Grant as an option. Experts have pointed out that, where newer flat allow for different ballot chance quotas for Signature at Yishun EC, the resale flat market only has one route to offer help, and that is financial aid.

Signature at Yishun

Analysts have pointed out that, with the rise in resale prices, the obvious move would be to raise the Higher Grant Tier. One property consultant pointed out that the amount of the grant used to be $50,000. However, it has since been dropped to, first $45,000, and the now current $40,000, a figure that is only $10,000 more than what the usual grant has been for Signature at Yishun resale buyers looking to purchase for the first time.

It was further noted that, should the grant amount be restored back to $45,000 or $50,000, this substantial difference was sure to encourage more people to purchase flats closer to their married children or parents.


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