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The M is Wing Tai Holdings’ newest project, that is supposed to go completely live and functional in Q1 2024. This new project is located on the Middle Road, one of the busiest and feature-rich routes in the entire city state.
The M is about to raise the Bugis district onto the next level and here are some of the reasons, that we ought to know of the impending changes to the real estate landscape in Prime District 07:
The M has both commercial component as well as residential apartments
The higher 20-storey building is dedicated to residential homes, along with a lower 6-storey block accommodating a total of 522 homes, and with the first storey allocated to some commercial establishments and so on.
Commercial properties are almost always sold at a higher rate than that of a residential, mainly because of the nature due to commercial properties being used as a revenue generating asset. The M condo will definitely change the game here due to the limited supply of private housing in the immediate neighborhood. Not only will the residential units be of really high quality and standard, but the architecture planning of the landmark development will also be absolutely marvelous.
The building will provide unblocked street frontage
The M is located along the Middle Road, which is pretty near to the main road, while connecting the many major arterial as well as minor roads within the city. It is designed and tilted in such a way to help provide an unblocked street frontage for the residents, a major advantage for overlooking at the nearby lower profile architecture buildings in the comfort of their home.
Steady-growing urban area
The mixed development is located in an urban area that is mature and growing at a steady rate with ongoing developments. This means that the entry price of such new projects would be attractive, and when the area transforms and renew itself, the prices of these private properties within The M will increase in terms of capital gain. An almost no-brainer to stake your claims when it is available.
Middle Road and Bugis precinct is well-known for being a place of trend setters as well as the cultural exchanges among the conserved assets, which attracts many millennial and working class folks to the area.
A new landmark in Middle road, Bugis
Landmark developments are one of the best property investments, they become very expensive over the years and people are willing to pay a premium for it. The M has great potential to become a landmark development when it is ready in Q1 2024. Potential investors will be looking for such great opportunity so they can make profits not found on the usual deals.
Of course, with so many buyers sitting on the fence waiting to jump into the bandwagon, the unit demand will be increased for any property within The M. Starting price of this project is not known as of writing, but the mode of sale would be through balloting process in due course.
It is set within a shopping district
One of the key reason people look for in a condo is that it should be close to amenities, so that they won’t have to make an extra effort for a visit to the retail shops. The M is very near to the Bugis Junction and Bugis + and several other commercial establishments. This is surely a done deal for many people when they are released for sale in the market.
No matter how you look at it, The M at middle road is really an amazing investment that will raise the property market value sooner than you might think.
Haus on Handy is the upcoming housing project on Handy road Singapore, which have been gaining popularity as one of the most hotly awaited housing development projects amongst the citizens within Southeast Asia. Orchard road, being the main shopping hub of entire Singapore, has always been the exclusive upper-class area, and the Haus on Handy project development is an advanced architectural project with all the luxurious features, so this project will only add to the luxurious views and environment of the Orchard Road residence. Singapore’s social media has been buzzing with the excitement of this upcoming project news as people seem to be waiting for this new launch eagerly.
New residential properties have been seen populating in this area in recent times, but specifically along the Handy road will be a different deal for residential all together, because of the easy access to so many facilities around this area, Haus on Handy project has been the talk of the town. Imagine yourself residing in a luxurious place so close to the shopping hub that it shines from the lights of malls with designer boutiques nearby and some of the best dining restaurants in Singapore, and luxury international labels readily available in the city, it’s undoubtedly a dream come true for many home owners.
This new launch condo by the name of Haus on Handy, is a CDL Regulus Pte Ltd (City Developments Limited) project on the prime district 9 precinct of Singapore. It is a private condo project, accessible to all including foreigners. It holds a tenure of 99 years with a site area of 51,626 square feet approximately. The development project consists of 3 residential towers with basement carpark and 188 number of luxurious units in them.
All of these started from a very unusual plot of land on the part of the main Handy Road, which is the last available piece of land in the Dhoby Ghaut district, and one of the only available land parcels amidst the extremely tight residential community seen opposite Plaza Singapura. Urban Redevelopment Authority (URA) were the ones who made this land available in the second half of the 2017 Government Land Sales (GLS) programme. As being one of the highest attractive sites in recent years, it drew ten strong bidders towards the tender and was subsequently awarded to CDL (City Developments Limited) at the end of bidding, one of the largest and strongest developing firm in Singapore.
The specific site of Haus on Handy project is 51,000 square feet approximately in land size. There will only be an exclusive number of condos available for the privileged few, because of the availability of such a precious but small space in the highly loved and prime district 9.
Haus on Handy housing project, by the City Developments Limited, is being constructed on a rising slope, giving access to both amazing skyline landscape views of the city in Singapore. It is deliberately located in the position where the private residential territory crosses its path with the commercial junction — an area with all the possible luxurious facilities and amazing locational features.
Haus on Handy will only offer 188 quality and precious homes on the entire developmental project, which is why this housing will not only be appealing to the citizens but also the real estate investors. It could be the future famous landmark across the first aircon-building in Southeast Asia House of MacDonald, due to its prominent location above the street level frontage.
Neighboring locations of Handy Road
The non-driving lot will love the Dhoby Ghaut MRT station connectivity to the rest of the city, which comes in as a package with the new project. With the availability of a major railway network at the doorstep of the residential homes, it will be easier to get around the city and beyond. The Marina Bay Financial Centre and the Central Business District is also just a few minutes of drive away from the Handy Road too.
Apart from the facility of getting to daily working sites easily which saves you time, the location of Haus on Handy is definitely on the most lovable route for all the shopaholics, as they can stroll along the 2.2 km stretch of retail, malls and endless entertainment with their friends and loved ones, all these within walking distances from your new home.
Educational Institutes Option
There are many reasons stating that Haus on Handy could be one of the most favorable prime home venues in Singapore; the many options of educational institutions available here is one of those reasons and the nearby schools are:
- Margaret’s Primary School
- Anglo-Chinese School (Junior)
- LASALLE College of the Arts
- Nanyang Academy of Fine Arts
- School of The Arts
- Singapore Management University – School of Law
- SMU Lee Kong Chian School of Business
- SMU School of Accountancy
All the above options will be open to foreigners considering purchasing, grab your chance now!
We’ve caught on a trend recently, the numerous advertisements appearing on social media for the upcoming private condo at Jiak Kim Street may have given you a push in making some swift decisions. The myriad of facilities and amenities provided by Riviere makes it look even better than before, if you’re wondering what the place were used to be, it is actually sitting on the site of former Zouk Club, one of the Top Clubs in the world and the pride of Singapore party-goers.
Now, if you’re planning to proceed and buy a private property at a venue where you used to spend your teenage years partying, have you thought about the financial aspects before going ahead? If you have enough cash in your bank account, there is still a need to take up a mortgage loan. There are certainly many home loan packages in the current market, but the one factor which will impact you the most is the status of the private property, if it is a building under construction or a completed property that is ready for immediate occupancy.
For acquiring a condo unit at Riviere, which is building under construction (BUC), you’re certainly not eligible for HDB loan, you will need to pick a floating rate package among the private banks. Luckily, the mortgage rates for BUC is more competitive now, with current market rate of 1.95%. However, the sub-2% point are pegged to the bank rates rather than the SIBOR, so the same caveats apply.
Now, there are a few things that must be checked before you apply for the loan.
Your eligibility criterion for the Riviere condo
The first consideration before you take up a loan is your own eligibility criterion, whether you are able to repay the loan from the bank’s assessment. To acquire any units for yourself at the Riviere condo, you will need a lump sum cash/cpf upfront and thereafter the principal loan with interest in the following months and years through installments. For this, you’ll certainly require a mortgage specialist to assist and allow the bank to assess your current financial standings. From there onwards, you’ll be able to work backwards according to your comfortable range of monthly repayments.
Value of the Riviere condo property and initial down payment
As mentioned earlier, you will receive different options upon buying any private condos in any projects, there will also be different types of layout such as a 2 bedroom or 4-bedroom unit. Depending upon what your family needs are and how much you can afford to purchase, then you select the property accordingly to your budget. When the price of the property is finalized, then you proceed with the booking, down payment and the final confirmation of home loan package.
While you’re taking the home loan, make sure that the solicitors representing you go through the sales and purchase agreement with you carefully so that you know of any fine prints and what you are signing on. So, are you ready for this new launch condo by Frasers Property Singapore?
Things that happened while you’re asleep. Have you heard the rumors by now? The latest introduction within our lovely District 19. If you are looking to upgrade your residence or simply looking for ways to diversify your investment portfolio, you should probably set your sight on the former Florence Regency now. It will be redeveloped by Logan Property after the real estate firm acquired the large private estate (former HUDCs) in late 2017 and it has since been renamed as The Florence Residences.
It is well-positioned at Hougang Avenue 2, a short walking distance away from Hougang MRT and Hougang Central Bus Interchange. With the presence of Hougang Mall, Kangkar Mall and The Midtown readily available in the vicinity, residents will be able to access places such as the 24-hour NTUC supermarket for their daily essential items. In addition to the numerous cafeterias and air-conditioned food court that serves nice local cuisine, there will also be the usual coffeshops in the established community where old buddies could be found hanging out with over cups of coffee.
Transportation wise, it is quite convenient where you can easily reach major stations such as Hougang and Kovan MRT, including a great bus service network option plying the complicated routes in the neighbourhood. From there on, one can easily travel to other parts of the island via the North-east line and one of the largest suburban malls is only 1 and 2 stations away at Serangoon. This stretch of North-east line will also take you to the Dhoby Ghaut area where our Orchard road is.
– It takes a mere 20-min ride to Dhoby Ghaut, Clark Quay and Chinatown for your convenience.
Apart from the city centre, you can also reach our nation beloved Little India community in just 15 mins of ride where the famous (24hrs) Mustafa Shopping Centre is.
The Florence Residences at Hougang Avenue 2 is offering individuals a chance to be a part of their new venture now. There could be some promising returns for an apartment here when it is adjacent to Serangoon Junior College and having an unblocked view towards the landed estates as well as across SJC towards the Kovan precinct.
If you are interested to look into this new property development by the Hongkong listed firm, it will only be available in the next few months and for a term of 99 years tenure. This entire project will be sitting on a large land size of approximately 389,000 square foot, expected to accommodate more than a thousand four hundred units within the boundary.
Given the current market sentiment after the nasty cooling measures announced by the government recently, it will be wise for the developer to hold till 2019 for the launch. Stay tune for more information then!
Singapore – In our highly advanced and sophisticated real estate landscape, most potential amateur investors tend to go by the reputation of individual real estate developer when they are out searching for a good bargain asset. Oxley Spinel Private Limited, the local builder that is redeveloping former Vista Park on South Buona Vista Road, is well-known for their most impeccable workmanship by local standard.
Their latest development by the name of Kent Ridge Hill Residences is going to be the next highly anticipated sell-out project, that replicates the same success deriving from the nearby Verandah Residences sales launches recently.
This new development will have the usual 1 and 2-bedroom apartment for purchasers with purely investment intent, luxurious yet spacious 3 and 4-bedroom unit size for the family nucleus. Apart from that, Oxley will also be building the rare townhouses for the extended families on this vast 320,000 square foot land.
Being nicely sited next to the Kent Ridge hillside, the entire residence will have the benefit of facing the pristine greenery of the hill surrounding the boundary. With the thick and dense greenery comes fresh air, sunlight and the wellness living certainly.
With the many years of experience, our local home-grown developer has also kept in mind that most of the potential buyers now will be connoisseurs, who want not only comfort and conveniences but also plenty of visual treatments in their respective homes that they intend to purchase. Going by that, each and every individual unit’s interior were carefully designed with specially chosen fixtures, fittings and the smart devices provided for the new residents.
Being nestled in an already developed community in district 5, there are plenty of amenities around the neighbourhood that will never fall short of. There will also be an in-house playing arena for the kids so that parents would be able to enjoy their evenings and weekends at home. The well-planned walking/jogging tracks and gymnasium will be provided for everyone especially the fitness-conscious homeowners or tenants alike too.
The targeted needs of our pioneer generations and under-privilege residents (if any) have not been neglected as well. There will be many friendly ramps made available within the residence and top-quality lifts will be installed for all the tower buildings to minimize the usage of any stairs that may inconvenience the wheel-chair bound users.
Apart from all the luxury and wellness theme living environment, residents of Kent Ridge Hill Residences will also have an easy access to other parts of Singapore. It is located along South Buona Vista Road and with the Pasir Panjang MRT Station in within reach from the housing development. This is certainly an added value for those who do not drive and require the usage of public transportation daily for work.
Singapore – If you are seeking an affordable private condo in a picturesque locality on this little red dot nation, look no further than the latest Mayfair Collection on Rifle Range Road, off Dunearn Road precinct. It is the perfect blend of modern amenities and covered with lush greenery that makes it the best choice in residential segment within the prime region.
The aged and formerly known as Mayfair Gardens was sold en-bloc to Oxley Holding’s subsidiary Citrine Property and at the price of $311 million. Plans for a major makeover project of the development and having the intention of providing luxury dwellings that are still reasonably priced were still etched in their mind. The layout of the luxurious apartment will be spacious and able to capture the hearts of many discerning homebuyers in the area.
Smartly positioned among the prestigious residential address of Bukit Timah, the Mayfair Collection condominium will be snapped up just like the previous KAP Residences across the street (same developer). If you’re an amateur investor and are looking for a very good quality abode for investment, this could be the best opportunity for you to act early. Families with young kids and retirees will also benefit by the clean air environment that surrounds the entire development.
The King Albert Park MRT station is within a short walking distance from your residence. From this station, all working adults will have an easy access to all the major commercial zones by travelling on the downtown line. Also, the residential development is not too far away from the Pan-Island Expressway, Bukit Timah Road as well as Clementi Road that brings you far and beyond. For school-going teens, this location will be ideal for a big advantage as they can have a longer rest period. There will also be many bus services that ply their routes along the Dunearn Road and to other parts of Singapore.
Markets and Eateries
Where there is residential populace, there will always be a need for commercial malls, cafes, and leisure zones. The Mayfair Collection development are very conveniently situated near to the Sime Darby Centre, Bukit Timah Plaza, Beauty World Centre and The Grandstand where Giant Hypermarket is, for your weekend groceries shopping. If you’re craving for some local delights, Bukit Timah Market and Food Centre will be able to fill the void for you.
Meeting the Educational Needs of Your Next Generation
The biggest edge of Mayfair Collection project could probably be the lure of some of the best educational institutions in the bukit timah area. It is well known among the local community where the most elite schools are, from any junior level to tertiary standard and Universities before your child progress to the society as an adult. Therefore, act now if you’re searching for a family property in this neighbourhood.
Singapore – It is important for all future residents to understand the significance of Queenstown and being proud of their own residential estate. Recognized as Singapore’s first satellite town, this neighborhood is rich in their heritage for many of our firsts, such as the first branch library, Polyclinic and Sports Complex.
Today, you will find numerous residential project constructions lining the main road and commercial development opportunities in and around Queenstown. It has become a much-desired venue for both the seasoned investors and families. You have a large catchment of residents enriching the overall value and power of the district. With so much history within the estate, Stirling Residences will most likely be the next pearl in this neighborhood. It was designed and constructed with a firm sense of style, space and richness of value for the next generation.
Stirling Residences is a stunning residential development that offers a myriad of facilities to everyone in the family. No matter young or old, this private development has something impressive for all age groups, it is located at Stirling road, Queenstown and one of the finest estate for any residential projects.
The land parcel is currently own by Nanshan Group and Logan Property for 99 years from the city state, a 50-50 joint venture effort to make this huge project a success and this pair of builders were well-known for their phenomenal architectural design and plans. So, are you prepared to learn more about this state of the art development?
This brand new exciting project will integrate and feature many smart living systems for the most sophisticated and advanced home purchasers. Building infrastructures will be eco-friendly to the environment on top of the lush green landscaping. Besides the usual facilities such as swimming pools and indoor gym room you can find in other developments, there will be a rare tennis court for the active or amateur tennis players.
Apart from the communal facilities available for all residents, most other amenities around Stirling Residences can be accessed by foot. The immediate ones would be the Mei Ling Market & Food Centre, a two-storey complex with a wet-market on the ground floor, catering to the community by having many of your favourite local delicacies.
Right behind your residence, lies the famous Alexandra road where all the commercial activities are bustling with the daily excitement, from the day to day test driving of Mercedes to the BMWs, the great furniture hunters, factory outlet stores promotion, to the sports apparel & equipment fanatics. You have all the necessary resources within easy reach for an interesting life here.
The talk about convenience in and around Stirling road will be incomplete without mentioning the proximity to Central Business District, Downtown Core, Orchard Road as well as the future Greater Southern Waterfront City when the port terminals relocate.
Such is the beauty of being positioned within a strategic locale and Stirling Residences will certainly be one of the top options going forward. It is also within a very short distance walk to the nearest Queenstown train station operating on the critical east-west line to both current CBD and the second business district in Jurong East.
Although the site is in proximity to many commercial activities, it is being shielded from all noise pollution generated from the surroundings. You’ve to experience the place by yourself or simply visit the showflat for any disbelief!
While Singapore is a popular and in demand destination to live, UOL Amber 45 developer is set to immortalize Singapore with luxury developments around the island. With an ambitious eye for properties around Singapore, these investments on local development by UOL Group Limited is in an effort to slowly revive the way investor buyers are looking at the luxury real estates in Singapore. The long-term goal of the Amber 45 development is to attract Singapore’s luxury property buyers and not only to keep them here locally, but also reel in prospective from other countries in purchasing the beautiful development too.
“Singapore is where the heart of home is,” is the focus of what the developer had envisioned it to be, when the UOL Group began working on the development of Amber 45 condo project. With a focus on developing a new residential development for people to live with all the essential amenities and by having a functional layout in luxurious condo living, they are ready to set the Singapore arena into a higher standard for the premium lifestyle. With the developer’s $156 million-dollar investment into the land parcel alone, the vision was clear that the development of this site is what potential home buyers need to look out for in the Singapore eastern area.
Amber 45 Condo Project
The new Amber 45 Condo project is located at 45 Amber Road, in an amenities haven with all of the benefits and convenience for residents. Strategically located close to public transportation, residents can opt for them if they don’t drive. Within a few minutes’ walk, residents will be able to take either the Tanjong Katong or Marine Parade underground train station for their traveling needs and the project site will also be located in close walking distance to major amenities, facilities and even to the city centre. It is also nestled in a well-received neighbourhood community for both locals and expats alike.
The UOL Group Limited had acquired the former Amber Park land site through an investment purchase from company Sin Lian Huat. The property site will boast around 70,000 square feet and with a total of 139 sizeable luxury units, with 2 to 4-bedroom layouts designed primarily for spacious residential use. The Amber 45 condo project will be a luxurious living at its finest within the highly desirable location at 45 Amber Road. This new condo development will bring a sense of beauty, functionality and convenience to all potential home owners in future.
Who will buy Amber 45?
Amber 45 is made to house the affluent within the Singapore’s high society with its luxurious fittings. It is also for people who love the old-world charm of Singapore but are looking to live in the modern spaces of newer condo developments. The sound structure of the new condo will provide residents a modern and sleek facade. Investors looking to purchase these sophisticated private properties will probably be coming from the surrounding neighbourhood of Amber 45 as well.
It will be release for sale in the month of April 2018, come and arrange for a private viewing if you are interested to find out more on this exciting freehold condo at Amber Road, Katong precinct. We will walk you through on this entire Amber 45 project before anything else.
Park Colonial Condo at Woodleigh Lane
This new condominium located at Woodleigh lane will have one to five-bedroom unit layout configuration. The entire block will have a few different facings where the front faces the Woodleigh mrt station and the back faces the Woodleigh park where the low-rise landed property is situated.
Residents occupying the higher floors will be able to enjoy the unobstructed view in the immediate surroundings such as the greenery park across the street. The draft site plan of the park colonial condo features a full suite of smart facilities for all the residing residents. It includes the likes of swimming pool, kids pool, jacuzzi, club house, function room, grill pits, outdoor gym as well as thematic gardens.
It provides an awesome way of life for all the residents, even when the development lies in the centre of bidadari new town and being right next to Woodleigh mrt station. We are certain that future owners will be able to appreciate the unblocked scenic views from both neighbouring landed properties and the heritage walk which is across the street.
Should you feel lazy to travel and would like to have a gathering with your friends, this park colonial condo will have you covered with all the ready facilities for your evening party.
Park Colonial by CEL Development Unique
One of the most talk about site recently will soon be making way for this condo construction at Woodleigh lane. It was sold to CEL Development Unique and will be developed by Chip Eng Seng, Heeton Holdings and KSH Holdings. Park colonial will certainly be the gem within the new bidadari new town when it is strategically located right beside the highly sought-after Woodleigh underground railway station.
Due to the extremely attractive location the site offers, it greatly benefits the residents of park colonial when the major transport network is situated right at your doorstep. Providing you with a seamless and worry-free transition to and from work during the morning as evening rush hour.
By being a part of the growing bidadari new town, park colonial is within toa payoh planning area. A central region often touted as the next bishan place. You would be surprised and amazed by the exponential potential this place has when the journey unfolds alongside you as you age gracefully.
Schools around Park Colonial
Not to worry if you think there will be a shortage of schools in this new growing town as there are top schools located within the vicinity such as Stamford American Intl School, Cedar Primary, Cedar Girls’ Secondary, St. Andrew’s Junior, St. Andrew’s Secondary, St. Andrew’s Junior College, Maris Stella High School (Primary & Secondary) for you to cherry pick when the time for enrolment registration comes.
The Opus – Singapore Condo
The Opus Singapore is the newest condo located at Amber Gardens, along Amber Road. This new condo development belongs to City Developments Limited and Hong Leong Group. It is styled and built in shape to the different household specifications. Sitting on more than 200,000sqft of land size, it will be an eye-catching building structure along amber vicinity. Amber road is a well-known region in the east and in close-proximity to many amenities including the east coast park!
The floor plan on the opus condo reflects the flexibility
Developer will be providing a wide range of layout configurations between one to five-bedroom unit types including penthouse across the four majestic towers. Almost all the units will command a premium, due to the near perfect orientation of the development in allowing almost all residents to have a beautiful and panoramic view of the big blue sea towards the east coast beach.
It will be standing on a 25-storey high building that they have already planned for (before they entered the winning bid with Hong Leong Group) based on the existing plot ratio that cannot be changed by anyone so easily as it is under the purview of the Urban Redevelopment Authority (URA).
CDL and Hong Realty (Private Investment Arm of Hong Leong Group) will also be engaging a top architect firm from Singapore to work with on this new condo development in Amber Gardens. Formerly Amber Park, and coincidentally, City Developments was the first developer in building Amber Park in 1986. They were so happy right after winning the hotly contested tender as they are finally reunited with Amber Park and to be able to rebuild another top-quality work again on the very same plot of land since more than 30 years ago.
So, if you are planning to purchase The Opus Condo Singapore, it is a no-brainer as both developers will treat this as a baby of their own. They are also well known for building top quality homes around the region based on previous impressive track records. Not only that, each and every unit that they painstakingly build does not come with a premium price tag. Unlike other developers if given a chance as the land parcel of the opus is really in a spectacular fashion way.
Not Driving Within Prime District?
No worries if you are not driving any vehicle and are only relying on our transport network in commuting to and from work every day. Because the new Tanjong Katong Mrt (Thomson East Coast Line) station is only a stone’s throw distance, approximately less than 200 meters away. How near is that? And given the fact that it is plying underground, you will be freed from all the noise pollution as compared to an above the ground station somewhere else.
By having such a convenient location, it scores highly on the To-Buy chart list. Apart from the transporting issue, you will be equally glad to learn that Katong is also home to many eateries and shopping malls such as Parkway Parade and I12 Shopping Mall.
Lastly, as a parent of young children, there won’t be a shortage of premium schools around as some of the best academic institutions is in your neighbourhood.
FOREIGN BUYERS RETURNING?
Singapore – Foreign demand is likely to flow back to the Singapore private housing property scene in this blockbuster year 2018 and beyond, Bank of Singapore (a Singapore-based private banking arm of OCBC) maintains. It is backed by the prospects of a recent price point recovery and better rental atmosphere in the local market, along with the fact that private housing premiums have fallen to an almost dessert spot after 4 whole years of declining. Therefore, our local marketplace appears to be of a more affordable prized asset in comparison to other metropolitan cities.
According to Mr Lee in a written statement on last Friday, that the current bull rage reflecting in the market has so far been largely driven by domestic purchasers. But savvy international investors will soon return and push the upside into higher gear, especially in our new residential development segment. Based on figures from URA, there have been no more than 1,600 deals by foreign friends in 2017, significantly lesser than the 2,200 on average each year, and the high average of 3,600 each year during the previous bullish market from 2010 to 2013.
Most of them were probably kept a distance by the additional buyer stamp duty for foreigners, only a mere 5.6% deals in 2017 were made by the foreign community. A drastic drop from the 8.7% in an 18-year average. The Singapore property market has since bottomed out after falling by 12% from the peak seen in 2013. Simultaneously, domestic income has improved together with an increase of positiveness in the overall market sentiment.
This is opposed to other major cities such as Hong Kong, London, San Francisco, Sydney and Tokyo, where asset affordability has appeared to worsen over the same period. Hence, Singapore real estate will be more appealing with the possible potential upsides.
Pertaining to the leasing environment, it will recover progressively from now due to a sharp drop of new project launches in recent years as they usually require 3 to 4 years to construct. Leasing rates began falling due to the oversupply since 2013 and exceeded the household formation, resulting in the increase of vacancy but due to the declining new projects seen in the past few years, the number of dwellings will go below the projected figures gauge by the state. Thus, vacancy rate will drop and a rebound in leasing will kick in.
Morgan Stanley, along with other analysts have suggested our local prices to rally by up to 10% this year while being lifted by a recovery in leasing market. It has already been seen in the existing en-bloc scene from 2017, with developers going all out in snapping lands before the price increases going forward.
Due to the onslaught by global environment and the government measures everywhere, demand and prices have fallen to the extent of only a 62% premium over mass market in the high-end residential segment, a 10-year low. It will begin to be the centre of attraction when foreign interest come flowing in the coming months ahead.
At the same time while writing, City Developments (CDL) have reportedly sold 18 luxurious units from New Futura, out of the 25 release units on its first day of private sale over the weekend, with less than a-third of them from local home buyers and most of the high-net-worth individual buyers came from the wealthy Chinese and Indonesians.
With such an increase on the foreign versus local buying ratio as seen, following up new condo developments in the same prime orchard vicinity such as 3 Cuscaden along Cuscaden walk will be in the spotlight. It is a very well positioned private residential projects situated diagonally across Wheelock Place and will certainly be of interest to a wide audience when it is release for sale in the next few months.
Apart from this development, there is another strong contender where they are almost completely built and ready for move-in condition. 8 Saint Thomas, they too are located within the same orchard neighbourhood, sitting along River Valley.
If you’ve been house hunting in the orchard area, these few condo developments will be the next up and coming beautiful sites to look out for.
Singapore Residential Properties
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