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Category Archives: Upp East Coast/Bayshore
Bayshore 4-bedder for rent @ $4.3K
The Bayshore, having an unparalleled exclusive location in Bayshore, is a nice residential homes who love the morning sun and the sea. Now available for rent: 4 bedrooms, 1432 sqft and high floor, this is a ideal home for expats and locals. Available now. Call King @ 94772121 for viewing details.
UOL launching new project in St Patrick’s Road
DESPITE the gloom in the residential property market, developer UOL Group is confident of moving units at its latest East Coast development, 70 St Patrick’s.
Mr Liam Wee Sin, president (property), told The Straits Times yesterday that there is still “underlying demand if you have a good product”.
“The market has become more subdued and buyers are very selective… But if a development has the scarcity factor – in that it has attributes not easily found in most residential projects – as well as a strong product proposition, it will be sought after.”
Mr Liam said 70 St Patrick’s location in District 15, next to the upcoming Marine Terrace MRT station on the Thomson-East Coast Line, will be a draw.
“The residential blocks are all arranged… such that each faces a different aspect of the surrounding amenities, and this gives buyers more options,” he added.
The 186 units at the low-rise freehold project go on sale today at an average price of $1,600 to $1,700 per sq ft (psf). Prices start at $1.2 million for a 700 sq ft two-bedder and go up to $2.5 million for a 1,647 sq ft penthouse.
Industry sources said a number of buyers have already expressed interest in the development.
The project is next to the 102-unit St Patrick’s Residences, which launched last year. Units at the freehold project were sold at an average price of $1,226 psf over the past six months, according to Squarefoot Research.
UOL is also keeping busy with OneKM, the retail mall below Katong Regency, which is expected to have its soft launch next month, said Mr Liam.
The mall has 158 retail units spanning a net lettable area of 203,601 sq ft. Its anchor tenants include Cold Storage.
Mr Liam said the company is working towards growing its recurring income via a diversified portfolio in the light of the softening residential market.
In August, UOL embarked on its first overseas venture by acquiring a site in Bishopsgate, in the City of London, via a £97 million (S$200 million) purchase. It expects to operate a hotel on the mixed-use site under its Pan Pacific hotel flagship brand.
Pointing out the site’s location in London’s financial district, Mr Liam said its proximity to the Liverpool Street Station and the future Crossrail, which will link the whole of Greater London, will be a “game-changer”.
“In all our ventures, we always apply the same investment principle. There must be a scarcity factor and high connectivity and that would help translate into positive demand,” he said.
– See more at: http://business.asiaone.com/news/developer-has-faith-st-patrick%E2%80%99s-project#sthash.0S7SlpkP.dpuf
Resale Prices for private homes rose month-on-month, but drop year-on-year
http://www.channelnewsasia.com/news/singapore/private-home-resale/1351262.html
Resale prices of non-landed private homes in August rose 0.4 per cent month-on-month, according to flash estimates from the Singapore Real Estate Exchange (SRX) on Monday (Sep 8).
Still, when compared with August 2013, resale prices of non-landed private homes have dropped 5 per cent. Compared with the recent peak in January 2014, prices have declined 5.3 per cent, SRX said.
Resale prices of private homes in the Core Central Region rose the most last month, rising 4.8 per cent compared with July. In the Rest of Central Region, prices were up 1.5 per cent. In comparison, resale prices in Outside of Central Region fell 1.1 per cent.
Resale volume remained flat, with 418 non-landed private homes resold in August, similar to the 417 transacted units in July.
Views of Thomson-EastCoast Line Part 2
Here are the locations and artist’s impressions of the respective stations along the latest MRT line. (Source: LTA)
Part 2: Marine Parade, Marine Terrace and Siglap
This is also known as District 15 of Singapore housing areas. Being close to Airport, CBD and East Coast Park, it is a value choice for expats and those who loved waterfront stays, as well as close proximity to town. Popular Shopping Haunts include evergreen Parkway Parade, Roxy Square (I and II), i!2 Katong Mall and Marine Parade/Marine Terrace Neighbourhood hub. Popular Condos in the areas include Cote d’Azur, Silversea, The Seaview, D’ecosia, Mandarin Gardens, The Esta, and Parc Seabreeze.
Views of Thomson-EastCoast Line Part 1
Here are the locations and artist’s impressions of the respective stations along the latest MRT line. (Source: LTA)
Part 1: Bayshore, Bedok South and Sungei Bedok
This is also known as District 16 of Singapore housing areas. Being close to Airport, Changi Business Park and East Coast Park, it is a value choice for expats and those who loved waterfront stays. Popular Condos in the areas include The Bayshore, Costa del Sol, Bayshore Park, The Summit and various Upper East Coast Apartments.
Enbloc potential along TEL may ring louder
With the announcement of the Thomson-East Coast Line (TEL), there were talk about the possible rise in collective sales in the District 15 area, especially those near the designated stations.
Older developments that are 20 years or older and having less than 200 units each, in areas such as Amber Road, Katong, Marine Parade and Siglap will be especially in developers’ radars, given the smaller purchase quantum and corresponding lower risks. Some of the potential developments, which are freehold, include Amber Point, Parkway Apartments, Katong Park and Equatorial Apartments. All are more than 20 years old and given their smaller plot areas, may be palatable enough to raise developers’ interests.
Meanwhile some developments along the TEL have already made several attempts to en bloc like the following:
– Laguna Park, a 99-year leasehold development with 63 years left on its lease. The last en bloc attempt was in October 2011, where the asking price was $1.25 billion, equivalent to $954psf ppr.
– Hawaii Tower, a freehold development that last attempted to en bloc in 2011 as well with an asking price of $700 million.
So with the announcement of the TEL these two developments may now stand a better chance of finding buyer
These leasehold/freehold developments may also have potential for enbloc by the time the TEL begin construction: King’s Mansions, Costa Rhu, Pebble Bay, Mandarin Gardens, Park Shore and Casuarina Cove
