Property investment sales triple in Q3 on-quarter to S$2.3b

Property investment sales triple in Q3 on-quarter to S$2.3b
By Mok Fei Fei, 938LIVE | Posted: 08 October 2009 1612 hrs

SINGAPORE: Property consultancy DTZ said on Thursday investment sales here tripled in the third quarter of this year.

Total property investment value in the July to September period jumped 200 per cent on-quarter to S$2.3 billion.

Historically though, the figure is still below the S$4 billion to S$12 billion mark achieved quarterly between 2005 and 2008.

DTZ attributed the increase in investment sales in the third quarter to a buoyant residential market and improving investor sentiment.

About 92 per cent of the investments were below S$100 million each, and they contributed 49 per cent of total transaction value.

Six deals of between S$100 million and S$500 million made up S$1.2 billion, or 51 per cent, of total sales.

DTZ said investment purchases continued to be driven by mainly private domestic buyers, who accounted for 72 per cent of deals above S$50 million.

Excluding Government Land Sales, the largest transaction so far this year was the sale of Swissotel Merchant Court at S$260 million in August.


- 938LIVE/so

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Total land sales revenue drops 41% to S$7.3b in FY2008-2009

Total land sales revenue drops 41% to S$7.3b in FY2008-2009
By Yasmine Yahya/ Wong Siew Ying, Channel NewsAsia | Posted: 08 October 2009 1446 hrs

SINGAPORE: Revenue from government land sales fell 41 per cent to S$7.3 billion in the last fiscal year ended March 2009.

But analysts said despite the decline for the full year, land prices have actually risen 30 per cent in the past six months and there are some concerns that this could lead to another property bubble.

Showflats have been packing in the crowds for many months now. Demand for land has also picked up, with more plots released for tender since April this year.

Analysts expect demand for land to grow in 2010 on the back of more positive market sentiment and developers looking to beef up their land bank.

In the first quarter next year, observers said the government could release more strategic sites at Jurong Lake District, Kallang Waterfront and Rochor/Ophir Road.

And when the government brings back the Confirmed List of sites in the first half of next year, more land will be on the market.

According to market watchers, the net effect is that revenues from such sales are likely to stay around S$7 billion in the current fiscal year to March 2010, similar to last year. Observers said increasing land prices will also boost revenues.

Recently, a residential site at Serangoon Avenue 3 was sold for S$221 million.

Donald Han, managing director, Cushman & Wakefield, said: "I was a bit surprised at the bidding for Serangoon. I think the top bid was 10 to 11 per cent higher than the second bidder.

"One would expect more cautious bidding in view of the current market and stock market conditions have started to come down. But I think by and large, it is a vouch of confidence in the Singapore residential market."

Some analysts said more measures may be needed to rein in the property market.

Colin Tan, director, Head of Research & Consultancy, Chesterton Suntec International, said: "I think the set of measures they announced recently were to curb speculation but this excess liquidity is not speculation. It is investment, so this is lots of money trying to find a more productive use. So maybe a different set of measures may need to combat this excess liquidity."

Observers said the situation should also be closely watched to ensure excess supply does not build up. - CNA/vm

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Suites @Guillemard

Please Call Direct Developers' Sale Team - Allen +(65) 9815 0929.




Project: Suites @Guillemard
For: Sale
Address: Lim Ah Woo Road
Neighborhood: Guillemard, Geylang
District: D15
Country: Singapore
Type: Apartment
Total units: 72
Tenure: Freehold
Asking Price: Fr $5xxk
Beds: 1 / 1+study / 2 / Penthouse
Status: Active


Full Description: A perfect blend of modernity and natural serenity. Consisting of 72 freehold residential apartments, Suites@Guillemard provides you with the sheer luxury that matches your chic lifestyle.

Community FeaturesBBQ AreaGymnasiumPlayground/ParkSwimming Pool
Amenities: Near Payar Lebar MRT
Future Payar Lebar Business Centre

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Vivace

Please Call Direct Developers' Sale Team Allen +(65) 9815 0929.






Project: Vivace
For: Sale
Address: Tong Watt Road
Neighborhood: River Valley
District: D09
Country: Singapore
Type: Apartment
Total units: 85
Tenure: Freehold
Expected TOP: 31-Dec-2014
Asking Price: Fr $8xxk
Beds: 1 Bedroom : 388/398/420/441/452sqft
2 Bedroom : 570/635/807/850sqft
Penthouses: 667/700/829/990/1109/1227sqft

Land Area Approx.: 12,048 sqft
Status: Active


Full Description: 1) Located in the Prime Central District 9 - Singapore RiverFront Vicinity
2) Short walk distance to Orchard Road/ Suntec City/ Marina Bay - Shopping Paradise
3) Short walk distance to Clarke Quay, Boat Quay - Vibrant Night Life
4) Excellent Investment with High Rental Yield Return & Potential Capital Gain
5) Spacious Unit layout, design and sizes
6) Short walking distance to Sommerset MRT Station
7) Minutes to CBD and Future Intergrated Resort


Community FeaturesGymnasiumSpa/JacuzziSwimming Pool
Amenities: MRT: Somerset MRT Station -
Primary School: River Valley Pri School

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Sales of small-format properties hit all-time high, says CB Richard Ellis

Sales of small-format properties hit all-time high, says CB Richard Ellis
By Yasmine Yahya, Channel NewsAsia | Posted: 06 October 2009 2027 hrs

SINGAPORE: Sales of small non-landed private properties in Singapore have hit an all-time high, even before the year has ended.

According to property consultant CB Richard Ellis, 412 units with a size of 500-square-feet or smaller have been sold this year so far.

This is a stark contrast to 1995, when just one unit of that size was sold.

CBRE said it has seen a rising trend in the popularity of such small homes - about 170 were sold in 2006, 275 in 2007 and close to 300 last year.

Sales of homes sized between 500 and 800 square feet have also hit a record high, with 908 units sold so far this year.

CBRE said these small units are forming a large proportion of the burgeoning sales volume seen in recent months.

- CNA/yb

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Whitley Villas

Project: Whitley Villas
Address: 115 Whitley Road
Tenure: Freehold
Total Units: 11
Unit Types: 2 Clustered Bungalows/8 Semi-Detached Units
Room: 5rms 1 family hall
Facilities: Swimming Pool
Expected Completion: December 2012
Land Size: 15,380 sqft / 1,429 sqm

A 2-Storey with Attic Cluster Bungalow/Semi-Detached housing development with communal facilities & basement 2 Car park lots
3 Metres above Road Level

Detach / Bungalow: 4,219 / 4,316 sqft
Semi-D: 2,895 / 3,024 sqft



With only 10 units, Whitley Villas reflects the essence of community living. With an impressive 5 bedrooms in your own villa, then often considered factor of comfort is well taken care of.

The villas exude modern resplendence and a statement which says that you have arrived.
Foreigner not Eligible,PR must seek approval from LDU(Approve granted than made enquiry)

Location: Whitley Road


Developed by the Fortune Group, this series of two-storey houses, with attics, is located in an established residential area near the Catholic Junior College.

The semi-detached units range in size from 2,895 sq ft to 3,024 sq ft.
Also on offer are two cluster bungalows – one 4,219 sq ft and the other, 4,316 sq ft, in size.

• Prestigious Address - District 11
• Nearby Novena & Toa Payoh MRT
• Nearby Novena & United Square Shopping Centers
• Serene & Peaceful Environment
• 2 min drive to Orchard Shopping Belt
• 1 mins drive to Novena Shopping Belt
• 5 mins drive to Central Business District
• Mins to Health Care Centers
• Near Good Institutions & Elite Schools
o CHIJ
o ACS Primary ( Barker ) Rd
o SCGS / SJI
o SJI Junior
o Marymount Convent School
o Raffles Girls’ School
o Catholic Junior College
o Raffles Junior College
o Raffles Institution
• Very centrally located, easy access to everywhere in Singapore!

ONLY 20% DOWNPAYMENT & $0 TILL TOP!!!

Please Call Developer Sales' Team
Allen +(65) 9815 0929

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Govt asked to release more land sites in less central areas

Govt asked to release more land sites in less central areas
By Yasmine Yahya and Ryan Huang, Channel NewsAsia | Posted: 02 October 2009 2022 hrs

SINGAPORE: Property developers in Singapore are calling for the government to release more land sites in less central areas so that they can build more affordable mass market homes.

On the sidelines of a lunch hosted by the Real Estate Developers' Association of Singapore (REDAS) on Friday, industry players said demand for private homes will continue to rise and push up prices.

It said most of the recent residential sites released for tender have been in "hotspot" areas. These are places located near MRT stations and other neighbourhood amenities, and cost more than those located further away.

REDAS has since requested for the Urban Redevelopment Authority to release a more even spread of sites.

Simon Cheong, president of REDAS, said: "There is an adequate number of sites now, to be honest. But perhaps in the next confirmed list, we'll have sites that are more spread out across the island for developers to pick from.

"Land that is not in an MRT area or in a 'hotspot' probably would have a lower price, so the developer would have a better choice for homebuyers. In other words, more affordable land for developers will mean more affordable products for the consumers."

The current home-buying frenzy has been largely attributed to pent-up demand for private property over the past 12 months. REDAS does not expect a property bubble to form as current prices are being supported by fundamentals.

Preliminary data released by the government on Thursday showed that private home prices rose almost 16 per cent in the third quarter – the highest quarterly increase in almost three decades.

It noted that this is not just being driven by high net worth investors, but also by growing local demand.

"It's important to see that we have an increase in population... that's something not to be ignored. So if you marry that together with global demand and regional demand, it adds to quite a bit of spike in demand," said Steven Choo, CEO of REDAS.

Experts said private home prices are likely to keep moving upwards, despite recent government moves to cool down the market, such as eliminating the Interest Absorption Scheme (IAS).

"The take-up of IAS among developers was a very small proportion, so the impact wasn't that great. We don't see prices coming down. The question is not whether they are coming down, but whether they are going to escalate even higher, so I think prices will remain firm," Mr Cheong added.


- CNA/so

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Lincoln Suites

Please Call Developers' Sale Team - Allen +(65) 9815 0929.


Project: Lincoln Suites
For: Sale
Address: Khiang Guan Ave
Neighborhood: Novena, Newton
District: D11
Country: Singapore
Type: Condominium
Total units: 175
Tenure: Freehold
Expected TOP: 2014
Beds: Studio – 474/484 sq.ft.
2 rooms – 1033/1044/1976 sq ft
2 + Study – 1098/1109/1119 sq. ft
3 bedroom – 1561 sq ft
3 + Study – 1615 sq ft
4 bedroom – 1798 sq ft
4 + Study - 1851 sq ft
Duplex - 2669/3089 sq ft
Penthouses – 3692/4822/5554 sq ft
Status: Active


Full Description: Facilities at Level 5 Aqua Deck
50 m Lap Pool ,
qua Spa Circle
Spa seat and Spa Beds,
Floating Decks
Fun & Splas Zone, Lounge and etc...



Facilities at Level 24 Sky Club

Sky Gym (Link Bridge), Outdoor Gym
Sky Dining Pavilion, Wine & Cellar Lounge
Sky Lounge, Sky Swing and etc...




Amenities: NEAREST MRT STATIONS
Novena MRT Station - 0.39 km
Newton MRT Station - 0.76 km

NEAREST SHOPPING CENTRES
United Square/Goldhill Plaza - 0.10 km
NOVENA SQUARE - 0.34km
Velocity - 0.43km

Nearest School to Lincoln Suites
ETONHOUSE INTERNATIONAL SCHOOL NEWTON - 0.19km
ALLIANCE FRANCAISE DE SINGAPOUR - 0.69km
ANGLO-CHINESE PRIMARY SCHOOL - 0.79km
RAFFLES GIRLS' SECONDARY SCHOOL - 1.62 km

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Private home sales in S'pore this year could be more than 14,800 units

Private home sales in S'pore this year could be more than 14,800 units
By Irene Chan, 938LIVE | Posted: 29 September 2009 2154 hrs



SINGAPORE: Property consultant DTZ said sales of private homes here this year are likely to be higher than the record of 14,800 units sold in 2007.

In a report, DTZ said there was a "frenzied" level of activity seen in the third quarter of this year. That led to a record number of more than 2,700 homes sold in July.

DTZ is forecasting that the record of some 5,100 units sold in the second quarter of 2007 will be surpassed in the current quarter on the back of the strong momentum.

It added that the average private home prices continued on the uptrend in the third quarter this year.

In addition, DTZ said rental values found some stability in the third quarter after four consecutive quarters of decline.

For the rest of the year, DTZ said sales volume in the private residential market is likely to ease due to fewer projects in the pipeline.

Recent measures by the government to cool the market, like the removal of the interest absorption scheme, may dampen sales too. - 938LIVE/vm

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Nearly 1.2m sq ft of new office space added in Q3, says DTZ

Nearly 1.2m sq ft of new office space added in Q3, says DTZ
By Jonathan Peeris, 938LIVE | Posted: 30 September 2009 1931 hrs

SINGAPORE: An estimated record 1.19 million square feet of new office space was added in the third quarter of this year, according to the latest Singapore Property Market Report by consultant DTZ.

This increased the overall office stock by two per cent. The new supply in the third quarter was more than last year's total new supply of 1.14 million square feet.

Newly completed offices included Mapletree Anson, 2HR, 71 Robinson Road and two transitional offices at Scotts Road.

The new supply resulted in an islandwide average office occupancy easing by 1.3 percentage points to 91.5 per cent in the third quarter.

The fall in office rents has also moderated in the quarter. Average monthly gross rents of prime offices in Raffles Place fell by 12.4 per cent to S$8.50 per square foot per month in the third quarter. This was a smaller decline than the 19.2 per cent drop recorded in the second quarter.

Private industrial rents also saw their rate of decline easing. Rent for first-storey private conventional industrial space fell just 2.4 per cent to S$2 per square foot per month in contrast to the 6.8 per cent decline in Q2.

Rents in other industrial spaces, including business and science parks, continued to fall but moderated from the previous quarter. - 938LIVE

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Private home prices rise 16% in Q3 flash estimates

Private home prices rise 16% in Q3 flash estimates
By Yasmine Yahya, Channel NewsAsia | Posted: 01 October 2009 1441 hrs

SINGAPORE: Private home prices rose almost 16 per cent in the third quarter, compared to the second quarter, according to the Urban Redevelopment Authority's (URA) flash estimates.

The rise in prices between July and September was a sharp turnaround from the 4.7-per-cent fall seen in the second quarter, and snapped four straight quarters of decline.

Non-landed private homes just beyond the core central region saw the highest rise in prices of 19 per cent.

The core central region saw private home prices rising 16 per cent.

In the rest of Singapore, private home prices climbed 15.4 per cent.

In the second quarter, all three regions had seen a fall in private home prices of between two and five per cent.

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