Paya Lebar Lend Lease Condo

In the recent data provided by SRX Property, it was seen that there was a much more noticeable drop in condominium and private flat rents than there were for apartments under the Housing and Development Board.

Looking at the private sector of the market, it was noted that Core Central Region rentals showed less of an easing than was seen in suburban areas, or the Outside Central Region. We can also see a pattern that is similar in the Housing Development Board rental market, where a smaller decline was witnessed for mature estate apartments, which are often viewed as prime areas, that those on estates that were non-matured Paya Lebar Condo.

Paya Lebar Lend Lease Condo

One expert pointed out that, with estates that are mature, the supply of HDB apartments being placed on the market by owners for lease is far less, due to owner preferring to reside in these units due to the flats central locale. It is for this same reason that the demand for rental tends in Paya Lebar Condos to be much stronger for apartments located in mature estates.

There has been an easing of 1.1% for HDB apartments located in estate labelled as mature, according to SRX Property’s rental index, and based on its July 2015 flash estimates, year on year. This is in comparison to a drop of 1.4% for those in estates labelled as non-mature for lend lease condo.

Earlier, in October of 2012, there was a peak seen in rentals for estates that were non-mature, as opposed to flats in mature estates in February of 2013. It was also noted that this fall from this specific high was also less on mature estates with close to 5.3% in comparison to the non-mature estate figure of 8.8%.

Read more: Paya Lebar Lend Lease Condo

Jurong West Street 41 Condo MCL Land

In June of 2014 a joint venture between DB2 Group and Vibrant Group purchased the property next door from Mr. Cheong, 139 Cecil Street. The transaction for this 11 storey office block was valued at $110 million and had close to 66 years left on its original lease term for Jurong West Street 41 Condo.

According to previous articles published, control of these two buildings standing beside each other was gained by Mr. Cheong from Fission Group and Yi Kai Group not too long after the two joined up in order to acquire these two building for $100.8 million in July of 2009. At the time they had paid $65 million for the former Aviva Building and $35.8 million for Cecil House.

MCL Land Condo Jurong West

The price that Mr. Cheong paid to Fission and Yi Kai could not be determined by market watchers due to the sale being done via the selling of shares. When provisional permission was granted by URA in June of 2010 for redeveloping these 2 properties into a new 227 unit residential project, Mr. Cheong’s name had already been noted as the only shareholder of the company that approval was granted to. The redevelopment project however, was never followed through by Mr. Cheong, who is a family member of those who developed International Plaza.

Read more: Jurong West Street 41 Condo MCL Land

The Criterion EC Yishun

The last Executive Condominium site to be sold alongside Choa Chu Kang Drive, and in a much better location as well, had a winning bid by Sim Lian Land of $361 per square foot, per plot ratio. This was during September of 2014 and the site was adjacent the newly completed The Criterion EC The Rainforest Executive Condominium and around 600 metres from the Choa Chu Kang MRT Station. Sim Lian Land is expecting to launch a 538 unit project as early as next year.

During February of 2014, two sites that were adjacent to each other alongside Choa Chu Kang Way and Choa Chu Kang Grove were purchased by MCL Land for $375 and $339 per square foot, per plot ratio, which equates to an average figure of $357 per square foot, per plot ratio.

The Criterion EC in Yishun

MCL Land plans to develop these combines sites into a project called Sol Acres EC with 1,327 units. 707 units will be marketed during the 1st phase of this project’s launch and has had close to 800 e-applications made so far. August 22nd will be the opening date for sales bookings in The Criterion EC.

The project itself is just a short distance from two LT stations that connect to the Choa Chu Kang MRT Station. It will also connect with the future Bukit Panjang MRT station. Furthermore, the Sol Acres EC project will provide a large range of family oriented facilities, such as two tennis courts, three swimming pools and three club houses. The buzz in the market is that Sol Acres’ units will have an average price of just under $800 per square foot.

Read more: The Criterion EC Yishun

Wandervale Choa Chu Kang EC

Although there is abundant data about vacancy rates in the total Singapore private housing market, there are no official figures on the vacancy rate in single completed condominium developments. However, unlit windows at night tell their own story. The Business Times took some nocturnal photographs from outside ten of these developments in May 2014 and May 2015. The photographs show that in the sampled ten finished projects, the windows were mostly unlit in May 2014 and there were not many more lit Wandervale windows in May this year.

The Wandervale at Choa Chu Kang

To examine why this might be one must look at the different projects to see why so many windows remain unlit at night. Five of the ten condominium developments were completely sold by their developers. These are The Laurels, RV Edge in Shanghai, The Canberra Residences at Sembawang, The Vermont on Cairnhill, and the NV Residences on Pasir Ris Grove. In three other projects, the housing units are mostly sold, figures from June 11th 2015 show that 98.6% of the Marina Bay Suites units are sold, 91% of the Goodwood Residence, Bukit Timah, were sold and 85% of The Interlace units were sold for Wandervale.

Cape Royale and Hilltops were the two remaining developments and here the developers are concentrating on leasing the housing units. Ho Bee and IOI, the developers of Cape Royale, decided in 2003, in the light of the Sentosa Cove market conditions at the time and before the development was complete that they would not sell any of the 302 units in the project. Rents at the development are currently $4.70 to $5.50 Singapore per square foot per month for the three and four bedroom units in the Wandervale Choa Chu Kang development.

Read more: Wandervale Choa Chu Kang EC

Iskandar Properties

Johor and Singapore have had a long and interesting history that has spanned over the centuries and that has intermingled quite a lot.

The history spans as far back as the 14th century, during a time when Singapore once played the role of the seat of governance for Johor Sultanate. Then there was the 18th century singing of a treaty with Britain. Through the centuries the history of these two now sovereign states have seen their economies and histories intricately linked.

Singapore’s monumental palace still exists today, but it has been transformed into a mosque which now houses Johor’s Royal Mausoleum. In the nearby cemetery once can find the resting places for the members of the royal household, another reminder of the areas glorious past history.

Just a short trip to the opposite side of the causeway is Iskandar Malaysia, the home of Johor’s exciting future.

Iskandar Properties

Iskandar Malaysia id home to the present Sultan of Johor, who admits that, with Iskandar Malaysia as a kind of back country, the two sovereign states are set to have their history intertwine once again.

A recent interview between The Star and the 25th Sultan of Johor, Sultan Ibrahim Ismail, it was shared that he believes that Johor is the future, due to the fact that Chinese and Singaporeans alike would be purchasing homes in Johor. He further added that homes tend to be out of reach for everyday Singaporeans. When the middle class starts to feel a squeeze it becomes a political issue.

Scepticism to Optimism – how does Singapore factor in?

Read more: Iskandar Properties

Principal Garden Condo

As reported to the media, Suchad Chiaranussatti, the founder of SC Capital Partners, has plans to re-enter the residential property market of Singapore as soon as there has been another 20% to 30% drop in home prices. SC Capital Partners currently manages property assets amounting to $1.8(US) billion.

Principal Garden in Prince Charles Crescent

The decision that the Asian property fund manager has made comes on the heals of a $12(S) million loss on Principal Garden Condo that was incurred in January when Blackstone Group LP purchased high-end flats at the condominium site of Patterson Suites.

After the units had been acquired for nearly $2,300(S) per square foot in 2011, 18 of these units were then sold for just $2,100(S) per square foot. This took place during the governments attempt to cool down the local housing market with property curbs. Mr. Chiaranussatti redhill mrt stated that they were caught off guard by the policies severity and intensity.

Principal Garden UOL Prince Charles Picture

New Principal Garden Condo

A decline in Singapore’s housing prices was witnessed for 2015’s 1st Quarter, making this the 6th straight quarter of decline and representing the losing streak that is the longest to be seen in over a decade. It appears that segment to take the brunt of these cooling down measures has been the high end residential sector. According to Singapore’s Real Estate Developer’s Association, we have seen a drop in prices by close to 20% since the start of 2013. This particular segment is made up of housing that has a price tag of over $2,400(S) per square foot and is larger than 1,500 square feet.

Chiaranussatti says that, looking ahead, it is believed it is unlikely that we will see a lift in these curbs that the government put in place for another 2 years. He further adds that more pressure will be added with the impending rise of interest rates. Since the prince charles crescent policy is obviously working, the government has no reason to relax it at this point for Principal Garden Condo.

Read more: Principal Garden Condo