All posts by David King

Your ideal partner in getting your dream homes. 衣食住行您本需 唯有屋檐为首居 选屋应当倾全心 家乐融融安乐栖。 '您'是售屋与搜屋过程的最重要一环。 我们的服务方针是: - 适时与您报告服务过程 - 全程经历与您密切联络 - 新颖有效的行销服务予您 - 专业的态度赋予您 客户‘您’们的好评就是此服务方针的最佳见证。 许许多多的屋主与买家都因此收益。此时,我们 虽然专注与加东/东海岸一带的房屋公寓的搜售出租, 我们房仲服务也在各个地区的楼房都颇有经验。如市区、乌节路、 武吉知马路、淡滨泥、巴西里、榜鹅的房屋、公寓、商业不动产和组屋。 如今我们正在销售的房屋包括 Reflections @ Keppel Bay, Costa Rhu, Pebble Bay ,Tanjong Rhu homes, Mountbatten, Tanjong Katong, Joo Chiat, East Coast, Frankel 和Siglap 的公寓和有地住宅。 若要找个超出您期待的房仲,不如拨电9477-2121 与我联络。 你会满意的。 服务至上,房屋之赞。 Of all things that are essential to U Over all matters is a roof over U Finding a home that belongs to U Brings joy and harmony to Ur kin and U. 'U' is the most important person in every home search and sale. Seeking to exceed expectations of 'U', David King adopts the 4-step KING service approach: Keep U updated of home sale/search progress Involve U throughout the home sale/search experience Novel ways of marketing and home search to U Give the professionalism due U. A dedicated realtor, his numerous favorable testimonies from U clients is a proof many homeowners and home searchers have enjoyed the fruits of the service mantra. Currently focusing on landed homes and condominiums in Katong and East Coast, David King has rich experience in serving U in other areas as well such as Orchard, River Valley, Bt Timah and Upp Bt Timah, Farrer Road, Telok Blangah, Tampines, Tanah Merah, Pasir Ris, and Punggol. Properties involved included landed properties, condominiums, apartments, commercial buildings and HDB flats. Among the many properties he is marketing includes condominiums in Reflections @ Keppel Bay, Costa Rhu, Pebble Bay and other Tanjong Rhu homes, and Katong landed houses in Mountbatten, Tanjong Katong, Joo Chiat, East Coast, Frankel and Siglap. Looking to find a realtor that exceeds Ur expectations? Call David King @ 9477-2121 a non-obligatory discussion, and you will know you have found the right realtor. Art of Service, Craft of Real Estate

Make Singapore land Great again! Courtesy of 38 Oxley Road

There is a lot of media limelight on this family saga on the residence of Singapore’s first Prime Minister. How much does this plot of land worth?

More HUDC Estates in heat for enbloc sales

After the 2 recent enbloc deals involving HUDB estates being successfully sealed, namely Rio Casa and Eunosville, two more privatised HUDC estates are in the midst of launching tenders for collective sales process. Rio Casa in Hougang sold last month for $575 million and Eunosville in Sims Avenue sold for $765 million in a deal finalised this week.

The 560-unit Tampines Court may launch its tender in July, while 336-unit Florence Regency in Hougang is in the early stages. Tampines Court owners are seeking at least $960 million for the large Tampines Street 11 site, spanning over 702,000 sq ft.

Built in the 1980s and privatised in 2002, Tampines Court has 14 blocks, with 432 maisonettes and 128 apartments. Its first try of $405 million was dismissed by the Strata Titles Board in 2008. In 2011, it failed to obtain the required level of approval from residents. This is its third bid for a collective sale.

Another privatised HUDC project, Florence Regency in Hougang Avenue 2, will also start its collective sale process soon. It is the first attempt for the development, with about 71 years left on the lease.

Since the 1970s, 18 projects were built under the HUDC or Housing and Urban Development Company scheme. All have since been privatised and nine have been sold, including Shunfu Ville and Raintree Gardens last year.

HUDC sites are said to appeal to developers owing to their location in mature estates and the potential to be further intensified, given their layout and the size of units. However, the huge size of their land plots may put off some bidders, owing to rules requiring developers to build and sell all units within a designated time frame or face huge fines.

Some other potential HUDC Estate for collective sales
1. Braddell View (618K sqft land, 918 units)
2. Chancery Court (123K sqft land. 136 units)
3. Ivory Heights (825K sqft land, 654 units)
4. Laguna Park (677K sqft land, 528 units)
5. Lakeview Estate (242K sqft land, 240 units)
6. Pine Grove (893K sqft land, 660 units)
7. Serangoon Ville (296K sqft land, 244 units)

Eunosville sold enbloc at a premium

The collective sale market here is powering ahead with the sale of privatised HUDC estate Eunosville for $765 million. The price of $765 million at a premium of more than 17 per cent over the $643 million to $653 million the owners had asked for when the site was launched for tender in April.

The 330-unit Eunosville, built in the 1980s, could make way for as many as 1,399 units in a new project. The site has been sold to a Jardine Matheson Group unit, MCL Land, at the second-highest price ever for former HUDC estates, after Farrer Court was sold for about $1.34 billion in 2007. It was the estate’s second try at a collective sale after an unsuccessful bid in 2013.

The purchase costs, which includes the sale price and an additional $194 million of government charges, works out to a land rate of $909 per sq ft per plot ratio. The charges are payable to the state to intensify land use to a gross plot ratio of 2.8 and to top up the lease to a fresh 99 years.

Built in the late 1980s, the project has about 71 years left on the lease. It has 255 maisonettes over six residential blocks and four walk-up apartment blocks with 75 units. Each owner stands to get about $2.25 million to $2.41 million upon completion of the deal, subject to sale conditions.

The site could be rebuilt into a 1,399-unit development with an average apartment size of 70 sq m. The new units could be sold for an average of about $1,700 to $1,750 psf.

The latest deal came after the recent sale of Rio Casa estate in Hougang and mixed-use development Goh & Goh Building in Upper Bukit Timah Road, and One Tree Hill Gardens in the prime District 10. It is the fourth successful collective sale this year amid recovering sentiment and developers’ optimism over residential property.

The four collective sales year to date total slightly over S$1.5 billion. For the whole of 2016, there were three collectives sales – Raintree Gardens in Potong Pasir, Shunfu Ville in Marymount area and Harbour View Gardens in the West Coast area. The total value added up to slightly over S$1 billion. In 2015, the solo collective sale transaction was the S$380 million sale of the commercial/residential Thong Sia Building in Bideford Road. The peak year for en bloc sales was 2007, with 88 deals amounting to S$11.5 billion.

The collective sale fever cooled when the property market tanked during the 2008 global financial crisis though things started to revive again in 2010, when there were 38 collective sales, followed by 51 transactions the following year before activity began to wane again amid a price gap between owners of en bloc properties and developers.

Between 2014 and 2016, only five sold during this period out of 25 collective sale sites launched; implying that the other 20 sites were priced above what the market could bear.

 

Citimac Industrial Complex up for enbloc sale again

The freehold development in the heart of Tai Seng industrial and commercial hub is up for sale again. The 110-unit industrial property of 1.3 ha size in MacPherson Road, Citimac Industrial Complex, has been put up for collective sale with a price tag of at least $430 million this time.

The eventual buyer would have to pay an additional $99 million in development charge (DC) for intensifying the land use — translating to a cost of $1,081 psf per plot ratio.

The redevelopment site is zoned “Business 1-White”, with a gross plot ratio of 3.5 under the URA Master Plan 2014. It can potentially yield a maximum gross floor area of 489,262 sq ft, of which at least 349,473 sq ft has to be for Business 1 or light industrial use, with the remaining for “white” use, which includes retail or commercial uses.

The white component is ideal for retail and F&B, such as cafes, restaurants and foodcourts, to tap on the growing catchment of workers in this up-and-coming F&B cluster, as well as residents in the neighbourhood,

BreadTalk Group, Sakae Holdings, Charles & Keith, Tee Yih Jia Group, Malaysia Dairy Industries and Lian Beng Group are among the many big names in the vicinity.

In February Mapletree opened its mixed-use development 18 Tai Seng, which boasts tenants such as Liao Fan Hawker Chan, Japanese Soba Noodles Tsuta and Tim Ho Wan.

$575K Investment property in Paya Lebar/Ubi

Looking to buy an investment property at 4.6% yield? Situated in Ubi Avenue 1, this Ubi Centre business space is for sale with tenancy. 1152sqft. Call 97442121 for more details.

https://drive.google.com/open?id=1uYvrM_7LD-yMX_u0ydOLtWecWhw&usp=sharing

Private properties rose to 27% of total housing stock

THE number and proportion of private properties in Singapore grew in the decade between 2006 and last year. The total number of private condominium units and landed homes went up from 243,000 to 372,000 in that time, taking their share of the overall dwelling units from the 22 per cent in 2006 to 27 per cent last year.

Meanwhile, the number of Housing Development Board (HDB) flats grew from 880,000 units to 1,011,000 during the period. But despite this increase, the proportion of HDB flats out of the total housing stock went down from 78 per cent to 73 per cent.

National Development Minister Lawrence Wong unveiled these figures in Parliament. The ratio is “expected to remain stable” over the next few years, with 72 per cent of all dwelling units projected to be HDB flats in 2020.

However, he added, this proportion refers only to the housing stock in Singapore – not the total proportion of people living in flats, which remains at about 80 per cent.

Huge Meyer Road home for rent

S$ 5,000 / month Negotiable | S$ 2.23 psf | 2,238 sqft (207.92 sqm) | Partially Furnished | 3 Beds | 3 baths

Hawaii Tower @ Meyer Road is a seafront-facing condominium development in the East Coast area. 2238 sqft space with 3 huge rooms. This is a bigly home for expats and locals alike.

Renovated with all round balcony. Facing south. Mins to Stadium MRT, CBD, Parkway Parade, Changi Airport.

Available now. Call David 94772121 for viewing.

http://www.sgbayhomes.com/20449275