Real News‎ > ‎2012‎ > ‎June 2012‎ > ‎

09 June 2012

9th June, Saturday




Resale home deals keep climbing

Source: Business Times

The number of private resale non-landed home transactions continued to climb in April-May, on the coattails of a surprising turnaround in March.

According to data provided by the Singapore Real Estate Exchange (SRX), the total number of caveat and non-caveat transactions as at 31 May was 2,551, beating the 2,117 in Q1, and just shy of the 2,601 transactions in Q4 2011.

An analyst expects resale volume in this quarter to be around 3,300 units. "Buyers who adopted a wait-and-see stance after the introduction of the ABSD (additional buyer's stamp duty) are re-entering the market, buoyed by the exuberant return in buying sentiment in the primary market. They are also turning to the secondary market for better value as new launches set new benchmark prices."

On the rental front, private non-landed rent volumes fell 33.2 per cent from 7,504 in Q1 to 5,014 in April-May. Rental yield fell 25 basis points to 4 per cent.

In the Core Central region (CCR) rental yield fell from 3.42 per cent to 3.19 per cent, while in the Rest of Central region (RCR), rental yield fell 12 basis points to 4 per cent. In the Outside Central Region (OCR), rental yield fell 20 basis points to 4 per cent.


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HDB resale prices rise at quicker pace, bucking trend

Source: The Straits Times

Prices of Housing Board (HDB) resale flats rose at a quicker pace in April and May.

According to the latest data from the Singapore Real Estate Exchange (SRX), the median price of an HDB resale unit has risen by 2 per cent over the last two months.

This bucks the trend of slower price appreciation since the middle of last year, due to the imposition of cooling measures in the property market and an aggressive rollout of new launches by the HDB.

The median resale price currently stands at $438,000, said SRX, after stagnating at $430,000 in the first quarter of this year.

Resale flats in Bukit Panjang, Bukit Merah and Marine Parade saw the biggest price jumps, with median prices in these towns rising by more than 7 per cent over the two months.

Analysts expect the HDB's quarterly Resale Price Index, due next month, to show a similar quickening over this period.

But property analysts said it is too soon to conclude that the HDB resale market is entering another bull run.


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Cemeteries before, homes to die for now

Source: The Straits Times

Some home buyers may be feeling a little squeamish about living at former cemetery Bidadari once it is redeveloped.

But property industry experts had this reminder for Singaporeans: Various high-profile residential areas share a similar history.

For instance, some apartments in mid- to high-end districts such as Bishan, Orchard and Tiong Bahru were formerly occupied by cemeteries, they say.

They add that some Chinese buyers might even see such sites as auspicious as burying ancestors in grounds with good fengshui is thought by some to bring blessings to future generations.

These experts noted that with the passage of time, the former use of a site is often forgotten, with the home's value unaffected.


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Projects add some buzz to Bartley

Source: The Straits Times

Sleepy, tucked-away Bartley may not be the first area that springs to mind for home hunters, but it is likely to come into its own as a housing area in years to come, some property experts have said.

More than 12,000 homes - public and private - are set to be built on the nearby former Bidadari cemetery plot when it gets redeveloped.

Meanwhile, there will be more than 1,000 units coming up from two plots of land being developed into condominiums by Hong Leong Holdings, City Developments and TID Residential.

An analyst said the area is traditionally quiet because of its mix of users, which include a columbarium, Gurkha camp and places of worship. It is also a long-time enclave of private, low-rise properties. But the area is likely to 'fully awaken from its slumber' in the next five to 10 years once new developments fill up, she said.


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Slow start for Stella RV condo

Source: The Straits Times

A recent new city centre launch in River Valley has had less than enthusiastic response, a recent report said, even as other suburban projects gather healthy sales.

Freehold 120-unit Stella RV in prime district 10 sold less than 20 units at its first weekend of launch at average prices of $2,100 per sq ft (psf), a research report noted. The launch took place two weekends ago.

Jointly developed by Nobel Design, Pinnacle Assets Group and Fission Group, the project targets local and foreign professionals and investors.

It comprises mainly small-format units with one-bedroom plus study units at 452 sq ft, two-bedders at 517 to 581 sq ft, and penthouse units at 818 to 936 sq ft.


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Launch of two freehold condos

Source: The Straits Times

Two freehold condominiums are being launched today amid a lull in the market, which are expected to give a gauge of the buying interest.

Both - one in suburban Eunos and another in central Mount Sophia - are relatively small projects, with fewer than 200 units in total between them.

The Tong Eng Group's Tropika East, a freehold project off Jalan Eunos, was privately previewed Friday and will be open to the public Saturday. The showflat is located at 1 and 3 Foo Kim Lin Road.

Already, at least 30 units have been snapped up.

A three-bedroom unit of between 1,033 sq ft and 1,109 sq ft will cost from $1,150 per sq ft (psf) to $1,275 psf. Two-bedders ranging in size from 710 sq ft to 840 sq ft will cost between $1,250 psf and $1,350 psf.

One-bedders of from 441 sq ft to 527 sq ft will start from $1,350 psf, up to $1,450 psf.

Penthouses, measuring from 840 sq ft to 1,819 sq ft, are on sale for $1,000 psf on average.

The 105-unit condo will be split into three blocks of five floors each. It will be ready by June 2016.

Aurum Land is launching its upscale development 1919 on Mount Sophia. Aurum Land is a subsidiary of Woh Hup.

The condo, expected to be completed by 2015, will consist of 75 black-and-white apartments.

Average prices range from $2,000 psf to $2,200 psf, while patio units - on the ground floor with a bigger balcony - start from $1,600 psf. Unit sizes range from 560 sq ft to 1,302 sq ft.

The showflat at 118 Sophia Road will be open to the public from 10am.


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