Last Saturday, at 10th of November 2018, Oxley Holdings had sold 110 units for their latest new launch condo development that is along South Buona Vista Road. This development, named Kent Ridge Hill Residences is a low rise private development located within 10 minutes walk from the Pasir Panjang MRT station. Comprising of 498 apartments which are of 5 storey high and 50 strata houses, this Kent Ridge Hill condo is made up of units ranging from 1-Bedroom to 5-Bedroom.
New Launch condo, Whistler Grand is finally launched at West Coast and it has received great attention right from the first day. City Development Limited developer recently gave an interview to The Sunday Times saying that out of 240 units launched on the day, 150 were snapped by around 5pm. The head of this property development firm told that these condos are gaining more popularity in the market due to their ultimate design, great location and affordability. Moreover, most of these units are priced at an affordable range of less than $1 million. Hence, people find it easier to invest on these wonderful condos.
Alan Cheong, the senior director of Savills Singapore recently told that 150 units that were sold present an estimated take-up the rate of 21% that is observed to be quite high for the current state of real estate market. Reports revealed that right when the total servicing ratio was introduced in the year 2013; properties were having only half of the take-up rate as compared to this recent sale.
Compared with selling a flat, it is much easier, more straightforward and a lot less stressful buying your HDB flat on your own without the assistance of an agent. Like with everything, especially if you are doing it for the first time, it is essential that you go into the process fully prepared, and with as much information as possible.
The fact that the government developed rehabilitation programs for older flats is no secret. Many people live in apartments that are already a few decades old, which were offered in leases for a period of 99 years. Once the lease period expires, the flats will return to the property of the government while their former owners move to new locations or are supported by the government to find new places. But, as it is known, the authorities in Singapore desire to modernize and update all of these old flats, with the help of the Voluntary Early Redevelopment Scheme. The scheme means that once a person ends up living in a flat that is 70 years old or older, it is possible to choose the Voluntary Early Redevelopment Scheme and tap into the modernization opportunities offered by the government.
As you may have noticed, this program is called a “Voluntary Scheme”. This is due to the fact that, according to the officials, the financial support offered in case someone opts for the scheme is not that generous. In other words, the authorities will help old HDB flats find other places to live until their flats are modernized, but the support probably won’t be as great as some would desire. Thus, the scheme is voluntary and only those that consider the conditions acceptable can unroll. So, if one chooses to find another place to live instead of opting for the modernization of an old flat, he or she has all the freedom and right to do so.
It can be rather challenging to merge concrete developments with a natural and serene setting, but the developer in charge with the new condominium that will emerge at Kent Ridge Hill is determined to make it happen. ADDP Architects got this project from Oxley Holdings, who is looking to come up with the ideal urban escape, both for families and couples alike. Why is this location so special? It promises to provide all the comfort of a modern lifestyle together with the peacefulness of living in a green environment.
The truth is that when it comes to greenery, you’ll barely find any other place that can offer the same amount of green space and views like the ones found at Kent Ridge Hill. According to the developers, all the condos in the new development will be designed so that they will offer stunning views to their owners. How many units will be available? 548 is the number that is aimed by the development company, as 11 blocks and 50 landed houses are part of the project. Homebuyers will be able to choose between units with one single bedroom and up to units with three bedrooms, suitable for families. For those that wish to enjoy more space, 3 and 5 bedroom penthouses will also be available. Thus, it will only be a matter of personal perspective. To make sure that the gorgeous views can be enjoyed, most of the units are designed to be above the road, for an elevated position that will definitely offer a clearer horizon.
CDL to preview highly anticipated whistler grand. The latest residential launch in West Coast
Last weekend Whistler Grand which is proudly developed by the City Development limited is launching their showflat for VVIP preview. This is a residential scheme which is being launched on the West Coast of Singapore. Its location is such that connects it with the Jurong Lake District, which is known as the second best Central district in Singapore.
There is a growing number of people in Singapore who are faced with just this dilemma. Those that fall between the gap by earning too much money to enable them to buy a BTO, but purchasing an apartment in a private condo is just too much of a stretch for them to be 100% comfortable with. In the middle of this of course is the option of buying a resale HDB. Many of those, rightly or wrongly, see a private condo as the best option, but it is just a case of whether or not the sacrifices, and the tightening of other budgets is worth it.
As a result of cooling measures, the price rise in the private home sector slows down
According to the estimates released by the Urban Redevelopment Authority, or URA, the prices of private homes barely managed to rise a 0.5% in the period between July and September, in comparison with the latest three-month period. This more than obvious slowing down of price increases is due to the fact that the authorities of Singapore introduced a set of cooling measures back in July, this year. Considering that the second quarter brought rises of 3.4% in this sector and that the first quarter recorded rises of 3.9% the slowing down in the third quarter is noticeable.
It has been reported that executive condominium segment was facing a huge shortage in supply. During the last years, the number of EC units sold by the developers amounted to 4,011. Despite this shortage in supply, 17 bids were fetched by an executive condominium (EC) site at a state tender. This site is located in SumangWalk in Punggol and the tender closed this Tuesday. Housing and Development Boardwas given the responsibilityof conductingthis tender. The board was also state’s acting Land sales agent.
These 17 bids in question have said to broken the previous bidding record in EC land. The site for which the record was made is Lake Life Site. It is located in Yuan Ching Road/Tao Ching Road. The record was made in July 2013.
Out of these 17 bids, the top bid was made by a joint venture of TID Residential (owned by TID Pte Ltd) and CDL Constellation (a subsidiaryof City Developments). The value of this top bid is S$509.37 million and it is a record in itself with regards to psfpprworth S$583.
The top bid made for this EC site in Sumang Walk is 64% higher as compared to the last top bid placed in August 2016. for the Anchorvale Lane. The value of its top bid was S$355 psfppr.
The second highest bid was recorded as S$486 million, 4.8% lower than the top bid. It was made by Qingijiang Realty. The thirdspot, in the top bid rankings, was jointly held by Soilbuild Group Holdings and Yanlord Singapore Residential. They offered S$450 million for this EC site. It was followed by a bid of S$446.6 million from a joint venture of Sunway Developments and Hoi Hup Realty.
An S$431.69 million bid was placed by Changi Properties, Sing Development, and FEC properties jointly. Next came a joint venture of Gamuda (Singapore) and Evia Real Estate as they placed the bid of S$426.37 million. MCC Land (Singapore) placed a bid of S$413.7 million and the lowest (S$373.81) was placed by Ho Bee Land unit HB Lombard.
The reason for these record-breaking bids, as per analysts, is said to be the lack of new EC sites in the market. During the last year, there was only one EC site offered in the GovernmentLand Sales Programme for sale, which is The Sumang Walk. As per Ong Teck Hui, JLL national director, these bids proved to be higher than their expectations. He is of the view that since last 1.5 year, there was no EC land tender. It contributed to the record-breaking bids. Othercontributions, as per his views, were made by a noted surge in the privateresidential market and unsold stock in the undersupplied market. It is assumed that the prices of EC are expected to rise by 20% by the completion of this project.
The top bidder of this project, CDL will be handling their 9thEC project. They have a positive outlook for this project. Sherman Kwek, CE of CDL, is of the view that the company has confidence in this project. They believe it is going to be successful due to its ideal location and various other features i.e. close proximity to various stations, easy accessibility, and various other amenities.
The article below might give you a more information on this EC land land bid
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It is well known that the Government is looking for the best ways to redevelop homes that are growing older. So, when they reach their age limit, they can be transformed into new homes that meet modern requirements of quality and comfort much better. The plan includes the units leased by the Housing Board on long periods, like those on a 99-years lease. Of course, there is still time for many of these homes, but the authorities want to make sure that everything is set in place and best solutions are found before the re-development process actually begins.
That is the million dollar question (often literally). A better one might well be is there a best time to buy a condo? The answer to that is yes, but it almost certainly is different depending on your circumstances, why you are looking to buy, where and what you are looking to buy. That is why you can ask a dozen people, and look at another dozen articles asking when is the best time to buy and you will end up with 24 conflicting answers.
Long awaited development, JadeScape had its Phase 1 preview last Saturday 22nd September 2018. The good sales response of having more than 300 units sold over the weekend had shown that despite new cooling measures kicking in, new launch condos that are located in a good location are still popular and in demand.
The property market, in the recent past, hasn’t been exactly showing the expected warm results. It was evident in the bidding activity that took place in three tenders for executive condominium (EC) land sites. These tenders closed yesterday. Among these EC sites, Housing Board’s site, located at Canberra Link, emerged out victorious as it received the maximum number of bids.
The month of September didn’t look so good for developers activating in the private property market, as the number of units they managed to sell was significantly lower than the one recorded in the previous months. Thus, if they succeeded in selling 1,724 units in July, recording a drop of 64.3%, and 1,246 units in August, with a drop of 50.6%, in comparison with September when they managed to sell just 616 units so far. According to specialists, this decrease was generated by two factors. First there were the cooling measures of July, meant to slow down the increasing demand coming from homebuyers. Secondly, August brought in the Hungry Ghost Festival, a period in which very many people stay away from making investments in new properties.
A site in Sengkang Central was just grabbed by the joint forces of CapitaLand and CDL
A site with a mixed destination, meaning that it offers both residential and commercial spaces, was just grabbed by a team formed out of CapitaLand and CDL. These two developers spotted the incredible potential of this site and decided that it is worth to join forces and get their hands on the deal. The tender price for this particular opportunity reached the sum of $777.78 million, but considering its location in Sengkang Central and the fact that transportation is great in the area, it is easy to understand that the site has an amazing potential.