Forest Woods attracts over 500 cheques

The Forest Woods condominium in Serangoon Central has launched last Saturday October 8 this year, according to the reputable developer of this project, City Developments Limited (CDL). CDL is currently developing the project with Hong Leong Holdings and TID.

Facilities include in here are three-level clubhouse with an indoor gym, function rooms, tennis courts, car park, a 150-metre adventure zone and a 75-metre pool.

This property is located to many places of interests. Grocery stores, shopping centers, and public transportations are close to this project giving the residents a lot of convenience.

Located within a mature estate in Lorong Lew Lian, this 150,711 sq ft site is close to the famous NEX shopping mall and is linked to the Serangoon MRT station and bus interchanges.

This 519-unit development has already received a strong response since its preview that began 24th of September this year. More than 4,500 groups of visitors and families have visited the show flat, and over 500 cheques and transtactions have been received from buyers, according to City Developments Limited.

The 99-year leasehold development is expected to obtain its TOP in 2021.

The search for an authentic property deals

We can all recall that one moment when we discovered a great bargain and took advantage of it, whether it was for a gadget that went for sale or any valuables you wanted to have. But when it comes in obtaining properties, how should we determine a good bargain?

Recently, CapitaLand rolled out their stay-then-pay scheme with a 15% discount for D’Leedon and The Interlace. Bukit Sembawang also offered a 10% to 13% discount for its Skyline Residences development. Earlier this year, Wheelock Properties introduced ABSD Assistance Package that provided buyers a 15% discount and a 15% ABSD rebate for selected units at Ardmore Three.

But OUE Twin Peaks is probably the most notable project, being the first development to bring back the DPS (Deferred Payment Scheme).

It has been put to the test to uncover some other deals. And to find the genuine deals, as they looked at new condos that were discounted from its original launch and new condos that were selling close to their cost-price.

In the analysis on those projects with their heavy discounting, they looked up at the average psf of their transacted units before versus those in the first three months of launch.

Some of what they’ve found includes Floraville. It is a 50-unit apartment at Ang Mo Kio with a 635 sq ft unit on the second level that was transacted at S$1,316 psf last May 2016 versus S$1,470 psf for a same size and transaction on the 3rd level last August 2013. This translates to a 10% discount.

Also from the list are Sophia Hills and The Trilinq that are two projects with more than 400 remaining units. In July 2016, this 463 sq ft unit at Sophia Hills was transacted at 7% discount compared to a same size and unit in December 2014, despite being one floor higher. The Trilinq is also cutting prices. Transactions lodged indicated an average discount of 5% to 10%.

Discounting is just one of the ways for property buyers to identify good bargains. Understanding the cost and margins allow investors to make better decisions.

Buyers has snapped up Marina One Residences

More than 85% of the units released during the preview phase of Marina One Residences have been snapped up. It is the latest high-end offering in the downtown Marina Bay area. The show flat opened to public last October 2014.

The developer of this project, M+S, is a joint venture between Temasek Holdings and Malaysia’s Khazanah. Last October 2014, it ended up releasing 242 homes from this 1,042-unit residence, with an overwhelming response from Singaporeans and foreign buyers. This was up from the planned 150 to 200 units.

Kemmy Tan, a chief operating officer said: “The strong response underscores Marina One as a choice development for investors and owner-occupiers alike,”

“I think the developer approached the game in a clever way and this has worked well in attracting investors. There’s no doubt that there’s a lot of liquidity in the market. It’s a matter of drawing it out and translating that into sales,” the director and head of research and consultancy at Suntec Real Estate Consultants, Mr. Collin Tan, said.

Sales in the Core Central Region have been a lacklustre as demand turned tepid after the repeated rounds of cooling measures. In the second quarter of this year, 95 homes in the CCR were sold from 121 units in the previous quarter and 365 units the same period last year. Its prices were also seen to have declined for the fifth consecutive quarter.

Singapore has been out of a ranking of the top 20 cities for real estate investment, from a report by property consultancy Cushman and Wakefield, as a result of the softening property market. Last 2013, the Republic was ranked 14th.

Regardless, Mr Tan still believes Singapore is still a safe haven for investors, “Sophisticated investors would want something in the city centre, but we have not seen much of that recently. Overall launches have also come down, so the market turned quiet,” he said.

Lendlease revealed their new project in Singapore

Paya Lebar Quarter is a 3.9 hectare land parcel that will comprise a shopping mall, residential development that will be called Park Place Residence, commercial buildings, grad A office spaces, and retail shops.

The signature feature of the project will be a provision of 100,000 square feet of green public spaces equivalent to more than 20 basketball courts.

Richard Paine, a managing director of Paya Lebar Quarter said: “Urban regeneration is a key pillar of Lendlease’s strategy and it comprises over 70 per cent of Lendlease’s $S49.3 billion ($46.4 billion) international development pipeline… With its central location, Paya Lebar Quarter will lead the way in regenerating the area and will turn it into a vibrant hub offering a new and dynamic city life.”

This development forms part of the bigger 12-hectare Paya Lebar Central area and is being undertaken by the Singapore’s Urban Redevelopment Authority (URA).

It will incorporate a cycling path within the area that connects with the surrounding park system, while office occupants will have access to facilities, making active commuting to work a reality.
The project is expected to be completed in phases, with retail and commercial in the second half of 2018 and residential in the first half of 2019.

Cairnhill Nine Building

The Phenomenal Success of Cairnhill Nine

Cairnhill Nine has attracted attention long before CapitaLand started selling. 60% of it was already booked on 11th March 2016, one day before the actual launch of the project.

These are the number of reasons why it was a phenomenal success:

First, it has ridiculously low price for its great location. It is located within Orchard Road. It’s in the area near some of the famous shopping malls in Singapore such as Paragon, Lucky Plaza, and Heeren. Then there’s even a covered walkway leading to Paragon. It is only a walking distance from the Orchard Road MRT station, and practically next to Mount Elizabeth Hospital.

The second one is that there are a lot of landlords that are eager to move into District 9 or 10 properties and that others feel it is a reliable investment for the long term. Rental rates that are in the heart of Singapore are not likely to be low for a long time, regardless of the current situation.

And the last reason is because of the development’s price and location. Cairnhill Nine really stood out from other launches within the area. There also comes at a time when there are few new launches in the Orchard Road that made a little competition for Cairnhill Nine making it predictable how quickly it sold out.

Martin Place Residences Building

Impressive properties at Martin Place and Robertson Quay

The fully sold Martin Place Residences obtained its temporary occupation permit last September in the year 2011. Real estate agents and property agents are already milling about this place and selling at the secondary market.

There were 2 transactions over the week from September 13 to 20 according on the caveats lodged and downloaded from URA Realis as of October 6. One of them was a sale of a 592 sq ft 1-bedroom unit which changed hands for $1.25 million or $2,111 psf. The seller purchased it for only $1.022 million or 1,726 psf last June 2009 when the project was re-launched.

In the mean time, at the neighboring block of this twin tower property, a 1,722 sq ft 3-bedroom apartment changed hands for $3.7 million or $2,150 psf. It was sold for only $2.87 million or $1,664 psf when it was purchased last August 2009 recognizing a 29.2% price gain in two years.

The riverfront neighborhood of River Valley-Mohamad Sultan-Robertson Quay became a sought-after residential area because it has a short driving distance to both Orchard Road and CBD according to the property agents. There is also a waterfront lifestyle that people can enjoy a pleasant walk along Singapore River and a numerous retail shops surrounding the area.

Projects such as these appeal to local and foreign investors, especially to those who are from Indonesia and China. According to Benson Koh, the 3-bedroom apartments in the area tend to catch good rentals.

DUO has recorded bumper sales

DUO Residences, a joint venture between Singapore’s Temasek Holdings and Malaysia’s Khazanah Nasional and M+S’s first project that is launching soon, has recorded bumper sales.
According to M+S, this project has sold over 468 units out of 540 units that was initially released last 2013. It took almost 90 percent within three days of concurrent sales in both Malaysia and Singapore.

The average price was about 2,000 dollars psf and the highest psf achieved was 2,600 dollars for a studio apartment unit according to M+S Pte Ltd. Most of the buyers were Singaporeans and bulk of them was investors. The remaining percent were Chinese and foreign buyers from Malaysia and America. According to a lawyer, Yasmine Tyebally, the development is a mixture of things in one place, and it’s all together yet the commercial part is separated for privacy. She bought a 2-bedroom unit for 1.5 million dollars.

Aside from a 49-storey residential block, this integrated project also includes DUO Tower, a hotel complex, and a 39-storey commercial building. It will provide a retail gallery at the ground podium that is called a DUO Galleria that is with a basement car park.

PropNex chief executive Mohamed Ismail said that “In a buoyant market, an iconic development such as DUO would have commanded well over 2,000 dollars psf the average price could have been 2,200 dollars psf or more.”

Christine Li, an OrangeTee research head, said that the strong sales at DUO could mean a smaller pool of investors for imminent launches and the investors have been waiting on the sidelines for projects like DUO and that some investors only have one chance to buy an investment property and that will just go for something that suits them.

The research head of the Colliers International once said that since Clermont Residences and South Beach are likely to appeal to different buyers, their sales would probably not match by DUO’s success.