Keppel Group has put 112 Katong, a mall in Katong/Joo Chiat area, up for sale, expecting offers around $500M. The mall, which is on a site balance of 61 years, has NLA of 207,160 sqft of retail space, plus 300 plus car park lots in the basement. The mall was first put in the market in April, with an asking price of $559M. The occupancy rate is 84%, with some units left vacant for possible refurbishment.
S$ 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.
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The recent government figures on private home sales signal a turnaround in the market. Figures showed that, in the primary market, developers sold 1,780 new private homes last month, the strongest showing since the 1,806 units moved in June 2013. This was when sales were still buoyant just before the rollout of the Total Debt Servicing Ratio (TDSR) framework.
The March 2017 sales volume is up nearly 82 per cent from February’s 979 units, and a 111 per cent jump from the 843 units sold in March 2016.
Two well-received new launches (Grandeur Park Residences and Park Place Residences at PLQ) have great sales, while continuing sales in earlier projects (such as Parc Riviera, The Santorini and The Clement Canopy), attributed to the confidence-booster from the government’s maiden tweaks to the cooling measures announced on March 10. The best-selling private-housing project in March was Chip Eng Seng’s Grandeur Park Residences next to Tanah Merah MRT Station, with 484 units sold at a median price of S$1,406 psf; this was followed by Park Place Residences at PLQ, where 217 units were transacted at a median price of S$1,805 psf.
The jubilant home-buying mood was reflected not only in the data from the Urban Redevelopment Authority (URA), based on its survey of licensed developers, but also in the secondary market.
Resale transactions of private homes rose to 942 units in March, translating to increases of more than 50 per cent month on month and year on year. The URA’s definition of resales includes developers’ sales in delicensed projects.
Based on the latest data released by the URA, the preliminary Q1 2017 figure for new sales of private homes stands at 3,141 – up from 2,316 units in Q4 2016 and 1,419 units in Q1 2016; the Q1 2017 figure was also the strongest showing since Q2 2013’s 4,538 units.
Developers also sold 578 executive condominium (EC) units last month, higher than the 329 units moved in February, and the 485 moved in March last year. The preliminary Q1 2017 new EC sales by developers is 1,091 units, surpassing the 734 units in the previous quarter and the 762 units in Q1 2016.
Among ECs, Qingjian Realty’s iNz Residence in Choa Chu Kang was the top seller; it sold 187 units at a median price of S$774 psf.The developers’ new private home sales at the new two major new launches – Seaside Residences in Siglap Road and Artra next to Redhill MRT Station were well received as well. Seaside Residences moved almost 400 units while Artra moved 130 units a few days ago.
Urban design guidelines, which play a key role in creating attractive and liveable areas, vary from site to site and over time in tandem with planning needs. Appropriate additional design guidelines will be imposed on new development sites along the East Coast Parkway (ECP) to ensure the integration of the new buildings with the surroundings. The move comes as the ECP corridor becomes more developed with higher-density developments as described by the Urban Redevelopment Authority (URA).
The guidelines may feature well-integrated and lushly planted sky terraces to contribute to the sense of pervasive greenery along this major gateway corridor. The Siglap Road plot of the upcoming Seaside Residences is the first government land sales site along the ECP to face these additional design guidelines.
Seaside Residences developer Frasers Centrepoint Singapore announced that the additional design requirements included an “urban window” of at least 45m, meaning there should be a 45m-wide no-build zone through the middle portion of the site.
Another guideline called for greenery and landscaping offered at the development to be equivalent in area to 65 per cent of the site area. These can include sky terraces and roof gardens.
The developer said each pair of residential towers will be spaced 45m apart, thereby meeting the urban window requirement. It has also reduced the number of units to be built at Seaside Residences by about 10 per cent to 843.
Capitaland is officially launching a residential project in Marine Parade this weekend. The average price for the units is at S$1,700 per sq ft (psf). This officially launch came after more than two years after its soft launch in January 2015.
38 units have been sold as of last month. Majority of the units in Marine Blue come with a view of the sea. The remaining 86 units for sale comprise 52 one-bedroom units, 27 loft suites, three penthouses and four pool terraces:
- One-bedroom units (sizes from 635 to 980 sq ft); priced S$1.13 million – S$1.39 million.
- Loft suites (sizes from 1,270 to 1,593 sq ft); priced S$1.56 million – S$1.67 million.
- Penthouse units (sizes from 3,025 to 3,261 sq ft); priced S$4.11 million – S$4.47 million.
- Pool terraces (three bedrooms and a private pool) (sizes from 3,670 to 3,993 sq ft); priced S$4.87 million – S$5.24 million.
Marine Blue received its temporary occupation permit (TOP) in October last year. Under Qualifying Certificate (QC) rules, CapitaLand is due to sell all units by October 2018. Marine Blue is located near East Coast Park, Tao Nan and Ngee Ann Primary and many other popular schools in the east. It is conveniently opposite the popular shopping mall in the east, Parkway Parade, with the new Thomson-East Coast Line (TEL) to be ready in 5 years’ time. The owner of Parkway Parade, Landlease, is separately launching a mega integrated development in Paya Lebar as well over the weekend.
- each tier of the seller’s stamp duty (SSD) will be lowered by four percentage points and the holding period shortened from 4 years to 3.
- a new stamp duty – the Additional Conveyance Duties – aimed at residential property transactions done through the transfer of shares in property-holding entities.
- Total Debt Servicing Ratio (TDSR) will no longer apply to mortgage equity withdrawal loans with loan-to-value ratios of 50 per cent and below.
The Park Place Residences at Paya Lebar Quarter (PLQ), a 429-unit development which will be the third condo project to hit the market this year after The Clement Canopy in Clementi and Grandeur Park Residences in Tanah Merah, will open for a preview tomorrow.
The $3.2 billion PLQ – being jointly developed by Lendlease and Abu Dhabi Investment Authority – will feature a mall, three office towers and three residential blocks. Developer Lendlease yesterday said it is confident there will be a good take-up for the 99-year leasehold Paya Lebar project.
Lendlease plans to sell 171 apartments, or 40 per cent of the total units at Park Place Residences, as part of its first release. Park Place Residences will have 117 one-bedroom units, between 480 sq ft and 580 sq ft in size, with prices starting at $780,000. Meanwhile, the price for 234 two-bedroom apartments, between 650 sq ft and 900 sq ft, will start from $1 million. The remaining 78 three-bedroom units, between 1,080 sq ft and 1,350 sq ft, will be priced from $1.6 million.
The prices should work out to an average of about $1,560 psf to $1,610 psf. This would make Park Place Residences the priciest condo project out this year. Average prices at both The Clement Canopy and Grandeur Park Residences are below $1,400 psf. Park Place Residences will be launched for sale on March 25.
Concurrently the MOF has just announced a set of updated initiatives for property. It includes changes to SSD among others — http://www.mof.gov.sg/news-reader/articleid/1795/parentid/59/year/2017?category=Press%20Release
The massive upcoming mixed development in Paya Lebar Central will comprise seven buildings on a 3.9-hectare site. The S$3.2 billion project – Paya Lebar Quarter – will feature a retail mall, three office towers and three private residential blocks.
The developer Lendlease said the development will transform the Paya Lebar area into a “vibrant, pedestrian-friendly city precinct”. Over 200 stores and entertainment options across the seven-storey mall, with about 30 per cent of the tenants being food and beverage operators.
Paya Lebar Quarter has a total gross floor area of about 1.8 million sq ft. About 100,000 sq ft at the development have been set aside as public spaces, and will include cycling path and lush greenery.
The first two anchor tenants to sign up at Paya Lebar Quarter are supermart NTUC Fairprice Finest, which will occupy 22,000 sq ft of space, and foodcourt Kopitiam, which will take up 15,000 sq ft of space. The development will also have about one million sq ft of Grade A office space across three 13- to 14-storey blocks, which can house up to some 10,000 workers.
The office and retail components of the development are expected to be completed in the second half of 2018, while the residential component – the 429-unit Park Place Residences – will be completed only in the first half of 2019.