Exclusive Living In Singapore
China’s increasingly tough clampdown on money flowing out of its borders is having far reaching implications not just for its own citizens, but also for property developers across South East Asia, with Forest City in Johor being one prominent project starting to feel the effects.
Just few weeks back, two Singapore Condos (Privatised HUDC estate), Rio Casa and Eunosville were sold via collective sales. And now, another two new private HUDC estates are up in the market and determined to sell! The Tampines Court which comprises of 560 residential units is expected to be launched in the early July. On the other hand, there is the Florence Regency in Hougang with 336 units that is already in the initial sales process.
Kajima development (SPH) which is linked to the Singaporean Press Holdings has put forward its highest bid ever recorded in a tender. The bid is for a 99 year-old lease that combines both residential and commercial sites in Bidadari.
The company came out to a bidding price of a whopping $1.132 billion which translates to about $1,181 for each square foot (per plot). This building can be located at the upper corner of serangoon road.
Singapore was facing a long downtrend in its property market for the past few years. However, recently Singapore’s housing market has been assembling its forces for a major comeback. Judging from the real estate activity, Singapore’s unenthusiastic property market is finally showing some signs of animation.
The Singapore government has made quite a few moves to ease the difficulties faced by the property market. Since the government has loosened its hold on the market, people now have more incentives to buy Singapore property.
Last month, the local residential leasing market had mixed fortunes because rents for public housing flats rose a bit higher while the rental value of condominiums continued their fall.
According to flash estimates released yesterday, the rental value of private condos lost 0.8% between April and May 2017, and their value decreased by 3.9% since May 2016.
Charles & Keith an established brand owner of Singapore for women’s footwear and accessories has made another private residential purchase in the Chatsworth area. The Chatsworth area is renowned for being a private GCB (Good Class Bungalow) enclave in Singapore. The family made the purchase of the same on 6th June 2017. Nearly 15 bungalows have been sold in these areas so far since January.
The leading developer of China, Fantasia Holding Group, with subsidiary in the name of Fantasia Investment, Singapore, came out as the top bidder among the total of 11 groups of developers for a low rise private residential site at Lorong 1 Reality Park. Fantasia investment made the highest bid at S$75.8 million which turns out to be S$525.58 psf ppr (per square foot per plot ratio). The least bid came from Lots Property at a price of S$29.88 million. Lots Property was a part of Yuan Ching Development. The (Government Land Sales) GLS tender for this residential plot was closed on 1 June, at noon.
It has been revealed that 64% of the Singapore Millennials live with the belief that they can survive further and it is their duty to support themselves for survival. In the meantime, 8% of the Singapore people believe that the millennials have set a strong foundation for a future retirement.
In the first place, it would be ideal to recognize the plot of the population which falls under the “Millennial” category. Millennials are considered to be the people who were born between the years 1980 to 1997. This particular survey represents the views and opinions of 1007 Singaporeans.
In order to help the people reach their destination quickly, the government has built some of the best means of transportation and TUAS West Extension project is one of them. It is going to be inaugurated on 18th June 2017. The TWE will be extended from the east-west line and starting from the already present Joo Koon station it will meet four other newly developed stations including:
It has been expected that TUAS West Extension will improve the connectivity within the Tuas area and people will find it easy to reach their destination through the MRT station. It has been developed to meet the requirements of 100,000 of commuters.
Some of the amazing features that you will come across in the TUAS West Extension are:
The construction of TUAS West Extension was started in 2012 and it was expected that the station would be opened for public at the end of 2016. Unfortunately, it was delayed because the latest signaling system required time to be tested. It is the most advanced system that is not available in any other MRT station.
Most of the workers had to travel through the bus service and it was mostly crowded. Most of them had to wait for the next bus that wasted their 30 to 45 minutes. Apart from that, there are many lorries on the road that were the cause of traffic jam. However, with the TUAS West Extension, the problem of traffic jam will be resolved.
The TUAS West Extension will be perfect for the working women. Now they can quickly pick their children from the daycare and reach their home on time for dinner. It is a nightmare for the private bus service providers because they have to change their route and most of them are going to end their service.
Now people will not have to worry about getting a taxi before 5 pm because after that their services are closed for Tuas area. They can easily enjoy the car-free ride. Soon pedestrian walkways will be constructed to enhance the easy access of people to the TUAS West Extension MRT station.
Now that Singapore is being so well connected by our public transport system, it is not hard to find Singapore condo that is within few hundred metres away from the MRT station. Below are some of the new launch condo that are within walking distance to the MRT station
Upcoming new launch development in Singapore
In the past time, the demand for a more flexible utilization of industrial land made the authorities in charge with such regulations to think about making some changes. Thus, the Urban Redevelopment Authority or URA, together with JTC will make sure of a new set of guidelines for land use, with the occasion of a multi-tenant building development, managed by JTC. Located on the Woodlands North Coast, this new project may open the door for some welcome changes.
Besides the manufacturing operations, this pilot project will provide support in the case of various manufacturing companies that will provide a number of services, which include after-sale support and R&D. The project gives companies the opportunity to keep an eye on their off-shored activities, while keeping the activities with a higher important at the location. Also, the Business 1 component, which is also the zone rating of the pilot project, will acquire a broader range of utilizations, which also uses that are related with the industrial sector, in order to provide essential support in the area. As an example, activities on engineering and industrial design, which normally are not allowed in the case of an industrial development, will be permitted in the Woodlands North Coast.
The previously mentioned exceptions are the only ones accepted in this particular area, as the rest that are usually not allowed, like non-industrial and clean-cut commercial activities, will remain this way. To better understand the new changes, do note that various commercial uses of the space, such as property consultancy, accountancy, and insurance companies, and agencies for travel and maid services, will not receive any support in the Business 1 sector. But, in case uses like these are proposed, they will have to fit in the white component of the pilot project.
Having in mind that land use in Singapore faces a number of constraints, the Government utilized zoning when it came to land use, to protect industrial activities. But, as time passes by, structures built with business purposes need new regulations that are adapted to the way society evolved. Many manufacturing companies make significant changes in their business model, passing from production-led models to activities that are driven by services. Or they are developing new branches than span over the production chain, such as prototyping, after-sales services, and others. Thus, they provide more than just manufacturing services, striving to remain competitive on an ever-changing market.
Because of these aspects, the land policies concerning industrial uses were constantly updated by URA. Back in 1990s, the Business Park zone was added by URA, as a way to help manufacturing businesses that unrolled other types of activities to integrate better. A decade later, URA made even further adjustments, introducing media guidelines and e-business, which continued to be improved until 2014. These two were developed out of the need to serve business activities that were media related or were in the IT domain. Between 2001 and 2003, Business-White and Business Park-White were also introduced, which were meant to entwine industrial activities with commercial ones. Thus, the guidelines existent in present days allow companies to carry on a broader range of functions, which can include production, warehouse, technology uses, like autonomous robots and analytics, and so on.
This particular pilot project was triggered by the need to provide changes that will help the industry adapt to the new conditions. The way the market will receive this project and the produced feedback will be closely supervised by the government, which will also unroll studies to see where this project is applicable. Also, the policies for land use will continue to be revised, especially when it comes to industrial areas, in order to maintain their relevance. The revisions will have to take into consideration any existent trends in the manufacturing domain, the requirements coming from industrialist, and the trends that may emerge in other relevant sectors.
The links below from Straits Time and URA Website will provide more info on the above if you would like to learn more.
http://www.straitstimes.com/business/firms-welcome-easing-of-land-use-rules
https://www.ura.gov.sg/uol/media-room/news/
There will be a few upcoming new launch condos that will be releasing for sale this year, they are
Existing New Launch
What if there were no cars on the streets of your neighborhood, at least during Sunday, so you can enjoy a clean and calm atmosphere? In a world suffocated by traffic, such an idea sounded delightful for the people living in the Civic District, Bencoolen Street, and Telok Ayer. But, the inhabitants of these three districts of Central Area of Singapore will enjoy more than just a car-free Sunday, as the area will be packed with a wide diversity of fun activities for this May edition of the event.
If the other districts were used to this kind of manifestations, the Bencoolen Street will enjoy this kind of Sunday for the first time this year. The date of 28th of May does not represent just the celebration of the Car-Free Sunday, but also the completion of a number of improvements done to the street. So, for the people living here, the joy will be double. Everybody will be able to walk, jog, or ride a bike on a total distance of 6.7 kilometers, which is a rather generous area. If you visit the Civic district during this manifestation, be prepared to enjoy a broad range of activities specially picked for families to enjoy, all of them organized by the Families for Life Council. And, in the Telok Ayer Conservation Area, the public will be able to enjoy the Xinyao Breakfast Concert, which will take place between 10 a.m. and 12 p.m. and will feature a number of appreciated artists.
For the Car-Free Sunday SG edition this year, in May, the route on the Bencoolen Street was added, to make the celebration even more exciting. So, feel free to discover this street in a brand new manner, through cycling, walking, or jogging. The street was improved and made to look more presentable, not only for this particular event, but for the continuous enjoyment of the people living here. Besides the activities that were previously mentioned, if you visit the Bencoolen Street during the event you will have the chance to taste a variety of delicious snacks, try your creativity in various crafts, and take home the handmade products that capture your attention.
The Families for Life Council brings into the attention of the public the Families for Life Celebrations 2017, which means a significant number of fun activities chosen for the enjoyment of the entire family. The main mission of this celebration is also to make families spend more quality time together, with the help of exceptional activities. There is something to do here for every type of family. Starting with the possibility to enjoy a delicious picnic with organic produces, to art and culture activities, outdoor activities and sports, and displays of decorative arts, furniture, and fashion, there isn’t any chance to get bored during this special Sunday in this district.
Do you enjoy Chinese folk-pop music? Then you’d better head to the Telok Ayer Conservation Area in the morning of the Car-Free Sunday SG and enjoy the concert, plus the flea market and F&B stalls that are organized in the same area. Also, all the cafes here will be open starting with 8 a.m., just in case yoy are in the mood for a great cup of coffee.
To avoid traffic jams and wasted time, it is highly recommended to use public transportation to the areas of the event. Besides the 28th of May, the inhabitants of Singapore will be able to enjoy other Car-Free Sundays on the 30th of July and 29th of October. You will be able to find all the details concerning the activities of the coming events in a timely manner.
All 3 districts are located in the city. If you are looking at new launch condos nearby these areas, you can consider our list of new launches below,
New Condo Launches that are slightly away from the city
Coming Soon
The name Hougang comes from the Pinyin version of the Hokkien and Teochew name for “the end of the river”, located as it is, at the start of Sungei Serangoon. This is no coincidence, and the name reflects the Chinese heritage of the region that was historically inhabited by Chinese Teochew residents. Though it was mainly forested land, with the occasional pig farm, there were several villages, one of the biggest being Tua Jia Ka (Teochew for “foot of the big well”) or Somapah Serangoon Village. This village had a reputation for being one of the most popular places to go for street food, Chinese opera, and storytelling as well as traditional Chinese medicine on the island.
If you pass the retail center located in Tai Seng, you will notice a construction site that took control of a good part of the area. What is going on over here? Well, if you haven’t heard about it just yet, the project is to build an underpass that will allow people to access Paya Lebar faster, easier, and safer.
Although things are evolving rather fast on this construction site, the finished station is expected to be ready on in the H2 of the year. The project is unrolled by Mapletree, a private developer, and it is going to link the MRT Station at Tai Seng with the busy commercial hub at Paya Lebar through a walkway that is in the underground. Thus, people will be able to safely reach the MRT station, without have to face the traffic in the busy area.
The truth is that the Tai Seng station is the only MRT station, at least on the eastern part of the Circle Line that cannot offer an underground walkway to the people that use the station. The people that have to reach their work offices in the area, or choose to dine at Paya Lebar, have two options to reach their destination. They’ll have to walk approximately 500 m to reach a nearby junction, which is signalized and made appropriate for pedestrians or to get over to the other side by walking on the overhead bridge. When you have a busy schedule, walking so much means minutes lost, just trying to reach a safe way that will enable you to get through the traffic.
When developer, Mapletree was awarded the tender, JTC Corporation formulated a land sale requirement that included the development of the underground pass, placed next to the new 18 Tai Seng station. Practically, the new underground link will link the MRT station which is at the second basement, to the retail center of 18 Tai Seng at the first basement. The connection will be made through a micro-tunneling process, also known as a pipe-jacking technique, knowing down a wall of the station to make the final connection. A representative of Mapletree stated that the mission of the company is to provide a much-improved retail experience and better connectivity for pedestrians, regardless of weather. The communities from Paya Lebar and MacPherson will both beneficiate from this project, as the people will enjoy a brand new escalator and lift in the new future. How much all of this cost? The developing company did not want to make the numbers public.
The work on this new improvement to the Tai Seng station started in March 2015, so they are going on for a while. At the moment, we can say that the constructions are on their last 100 meters from being finished. Many people that work in the area are extremely pleased by the news that the underground walkway will soon be finished. They have been hoping for quite a while for this to happen, being disappointed in several occasions by rumors stating that such a project will start in the area. Soon, they won’t have to walk such a long distance anymore, enjoying a faster and safer access to the location where they work, eat, and unroll various daily activities.
The collection of sales made over here in the market is striving to steer ahead along with potential sales of private organisations for a sum of $765 million, estate Eunosville. This could be one of the 2nd highest price being imposed for a property like this.
Eunosville, which consists of 330 units, which is being built in the late 1980’s could expand to having around 1,399 units altogether with the new project proposal brought up.
Surprisingly the particular site has been given away or else been bought by a Jardine Matheson holding unit, land MCL at a ridiculous price which was not made to be expected at all.
This has been one of the 4th most successful sale within this year in spite working on to recover developer’s residential property optimism.
The highest achieved sale which stands in second place is Eunosville, which is situated nearby the MRT station of Eunos. After it was sold by Farrer Court for a sum of $1.34billion in the year 2007, stated by Orangetee marketing agents. It Was Indeed the second try of the estates after the unsuccessful result of a bid in 2013.
More than 17 percent stands as the premium which the owners had insisted in having for $643 million towards $653 million.
Constant rise in market improvements are also seen in sales for primary homes, which makes developers to start creating strategic level acquisitions over land in order to create a position for them self towards a recovery in the current market.
Eight potential bidders were attracted towards competitive market bids over the area between Changi road and Sims Avenue. This was for the tender of 376,713 sq. Stated by Mr.Oh to the Straits Times.
In a whole with all inclusive of government extra charges being added, the cost accumulates to an amount of $909 per Square feet for a single plot. The state accepts these payables in order to intensify the use of land to a gross amount ratio of 2.8 along with adding up a lease to 99years freshly.
As mentioned before that this project was built in the late years of 1980’s, 71 years have been laid on as the lease. Towards six complete residential blocks and also four complete walk by apartment plots which includes 75 units.
OrangeTee stated that each and every owner will possess the right of getting about $2.25million to about $2.41million towards completing the deal which is subjected to a particular sales condition.
One of the resident named Mr Ben Ong, who has been a loyal resident of Eunosville for the last 17 years is in a very sentimental condition about leaving although he is aware and identifies that the old structure is now in need of renovation.
It is indeed a very sad situation said Mr. Ben Ong. As this is the place where they brought up their children and not forgetting to mention that, the location is so convenient for them as well. Therefore for the resident, he may want to purchase an apartment unit here after the new structure is put up in the near future.
CBRE consultancy office stated that the newly completed units will be put out for sale for an average sum of $1,700 to almost $1,750 per single square feet.
Check up below link for more info on this collective sales
http://www.straitstimes.com/singapore/housing/765m-en-bloc-sale-eunosville-may-make-way-for-1399-new-homes
New Launch Condo in Singapore that are near to MRT station
Upcoming new launch condos
The Remaking of Our Heartland (ROH) was started in 2007. The project was initiated to rejuvenate the HDB towns and estates. The aim is to make the HDB areas a better place for the residents.
The first 3 towns that were developed under the ROH included Punggol, Yishun and Dawson. Later, three more towns namely East Coast, Hougang and Jurong were also developed. The development efforts for these towns have come way ahead. The progress is quite evident as the towns are now a symbol of serene living for the people.
After the successful efforts in the previous 6 towns, the ROH continues the efforts for other towns as well. The latest towns to undergo development efforts include Pasir Ris, Toa Payoh and Woodlands. The ROH plans to apply similar standards of development that have been used in the previous towns. In this post, we will be focusing on the ROH plans for Pasir Ris.
Pasir Ris stands for White Sands in Malay. The town is basically a long stretch of white sandy beach situated along the north-east coastline of Singapore. In the time past, Pasir Ris used to be a major focus of vacation time. It was a popular destination for both locals and foreigners to space the chaos of life and enjoy a few days of relaxation and luxury. The town featured large holiday bungalows and public seaside resorts that were accommodating the traffic of domestic and international tourists.
After the development, ROH plans to make Pasir Ris the dream seaside town. The town will be supported by amazing commercial and residential amenities to provide the residents with a convenient lifestyle.
The following developments will take place according to ROH plans for Pasir Ris:
The new town will be featuring modern day architecture that will stand apart due to its unique style. ROH aims for the residents to have an aesthetic connection with the place they live in. The four existing neighborhoods, namely the Loyang Point, Elias Mall, Neighborhood 4NC and Pasir Ris West Plaza, will developed to add more parks, playgrounds, fitness corners and linkways.
Both outdoor and indoor recreational facilities will be developed to cater to varying needs of the residents. The White Sands mall will be accompanied by a new development; a combination of residential, retail, food and beverage outlets.
Whether they are commercial or residential facilities, the town plan has been designed to feature a better connectivity. An integrated bus interchange will provide better accessibility across the Pasir Ris.
ROH plans to make the new Pasir Ris feature ample amounts of greenery and nature. Given that Pasir Ris is already a seaside town, this feature has been given significant priority. A greenway will stretch a 1.2km, starting from Pasir Ris, crossing through the town center and concluding near the Tampines Expressway. The new Town Plaza will also feature a Heritage Garden.
The new Pasir Ris plans have been developed after the suggestions put forward by the residents. It will appeal to the need of having a town rich in amenities and nature.
New Launch Condos in the East Singapore
New Launch Condos in Singapore