Located at Newton Edge, this 1292sqft penthouse is available at $1820psf. Mins to Newton MRT and Orchard Shopping belt, this is a best buy! Also available for short term stay of 6 months. Call 94772121 for more details.
Amber Glades is a mid-sized development which consists of two 10-storey block. It is situated between the famed Katong area as well as Marine Parade. There are a few units for rent here. 1087-1668 sqft. 3 and 4 bedrooms available. Rental from $4200 onwards. Very affordable. Minutes to Parkway Parade, Katong eateries and town. Call +659477-2121 for more details.
The number of units sold in June fell by 68 per cent from the previous month to 482 units, according to data by the Urban Redevelopment Authority.
Sales of private homes by developers in Singapore fell by about two-thirds in June from May, hurt by ongoing Government measures to cool the housing market.
Data compiled by the Urban Redevelopment Authority (URA) on Tuesday (July 15) showed developers sold 482 units in June, down 68 per cent from May when sales of 1,488 units were booked.
The bulk of the sales involved homes located outside the central region, with 269 units changing hands. Another 46 sales were made in the central region, while the rest of central region accounted for 167 units, the URA data revealed.
The stricter buying rules that have hit executive condominium sales could also end up hurting upcoming launches, property consultants say.
There were 779 launched but unsold exec condo units as at May 31 – the highest level for three years.
National Development Minister Khaw Boon Wan told Parliament earlier this week that about 6,800 exec condo units are expected to be launched over the next 18 months.
Exec condos, a hybrid of public and private housing, are designed to cater to a “sandwiched class” of buyers who might not qualify for public housing but find private property beyond their reach.
They are sold with Housing Board restrictions but built by private developers, and become fully privatised after 10 years.
Consultants said yesterday that the slowdown in the sales of exec condos was likely due more to reduced affordability than buyer fatigue among HDB upgraders.
“There’s still underlying demand… Exec condos are really one of the better solutions to do an upgrade,” said CBRE Singapore research head Desmond Sim.
Consultants said the affordability of exec condos had been reduced due to a resale levy and tighter loan rules imposed on the sector late last year.
Exec condo buyers who have already bought an HDB flat or exec condo unit must pay a resale levy of S$15,000 to S$55,000, depending on what their first subsidised home was.
Monthly mortgage payments for exec condo loans were capped last December at 30 per cent of a borrower’s monthly pay.
“The measures caused a pullback in demand. New supply will take longer to be absorbed,” Mr Sim said.
SLP International research head Nicholas Mak estimated that the 30 per cent cap on the mortgage servicing ratio (MSR) means that a couple with S$12,000 in combined monthly income can afford only an exec condo unit which costs about S$900,000, assuming they take out an 80 per cent loan over 25 years at a 3.5 per cent interest rate.
The prices of popular four- and five-room exec condo units now start at around S$1 million, he said.
The drop in demand for exec condos could mean sales at upcoming launches may take a hit.
But Mr Mak said some potential buyers may have held off at last year’s exec condo launches because they wanted to wait for the upcoming surge of units.
No exec condos have been launched this year due to a restriction imposed on the sector in January last year. That rule requires developers to wait at least 15 months after getting an exec condo site before they can launch the project for sale.
The next few exec condo developments to hit the market after this 15-month period could include one in Woodlands and one in Sengkang, both by Qingjian Realty.
A Straits Times check found that there were seven exec condo projects on the market with unsold units, which together accounted for the 779 unsold units as at the end of May.
The Waterwoods exec condo in Punggol East had 170 unsold units at the end of May, which was 45.6 per cent of the 373 units in the project – the highest percentage of the seven exec condos.
The project at Punggol Field Walk, which is being developed by Sing Holdings and UE E&C, is the first exec condo to have private lift lobbies and maisonettes. It went on sale last November.
The second-highest percentage of unsold units was at the Skypark Residences exec condo in Sembawang Crescent, which also began sales in November last year.
There were 205 unsold units as at the end of May – 40.5 per cent of the 506 units in the project. That was also the biggest absolute number of unsold units across the seven exec condo projects.
The five other exec condo projects with unsold units were Forestville and Twin Fountains in Woodlands, Sea Horizon in Pasir Ris, Ecopolitan in Punggol and The Tampines Trilliant in Tampines Central.
|Type||Size (sqft)||Tenure||Rooms||Price||TOP date|
|Townhse||3348||FH||4+1||$5.609M||Expect 31 Dec 2015|
|Condo||635||FH||1||$1.136M||Expect 31 Dec 2015|
|Soho||700||FH||1+1||$1.304M||Expect 31 Dec 2015|
|Soho||646||FH||1+1||$1.218M||Expect 31 Dec 2015|
|Condo||678||FH||1||$1.128M||Expect 31 Dec 2015|
The Seawind is an exciting freehold development in a quiet residential enclave of the popular East Coast. Designed to suit a variety of different lifestyles, this 222-unit development consists of condominium units, SOHO-concept residences and townhouses. 1 to 4-bedroom units are available.
Sited on a prime location, traveling to other parts of the island via PIE and ECP is a breeze. A 10 to 15 minutes’ drive take you to Marina Bay New Downtown and the Central Business District. Changi Airport and Changi Business Park. This area is also well-known for its wide array of dining and entertainment options with Parkway Parade – the icon of Katong area, just round the corner. Reputable schools in the vicinity include Tao Nan School, CHIJ Katong Primary School, Victoria Junior College and Singapore University of Technology and Design (SUTD), slated to commence operations at its campus in Changi by 2014.
With the introduction of iPark in the nearby Paya Lebar, the estate is set to transform from a cluster of workshops and factories to a modern new generation Business Park where the notion of live, work and play will become reality. Expect popular food chains like Din Tai Fung, the BreadTalk Group and Sakae Sushi, as well as retail shops like Charles & Keith and Reebonz, makes the area more vibrant. Residents can look forward to more job opportunities and dining options nearby, with the transformation of the Paya Lebar Central into a bustling commercial hub of the east.
White SOHOs – Redefining your optional lifestyle
The Far East SOHO champions a new urban lifestyle that celebrates personal style and creativity. Our collection of SOHO apartments are available with high ceilings and swanky platforms that allow you to maximise storage and usage spaces. To suit different lifestyles and budget, we also offer an affordable range of White SOHOs that gives you the total freedom to unleash your creativity. Now is the time to explore. SOHO is where you make the rules.
Complimentary shuttle bus services* to be provided to Bedok and Dakota MRT Stations, and Parkway Parade.
*Till MCST is formed.
Townhouses are also available. Foreigners eligible to purchase.
3 bedroom units: 1087/1109 sqft. Partially furnished. Immediate. Asking $5.2K
Exclusive and refined, The Sound is the ideal family home as it offers your loved ones the best in key requirements.
This freehold development is the most luxurious in the quaint and eclectic precinct of Siglap. Inspired by the lovely ambience of the water and landscape that mark some of the most beautiful sounds or inlets in the world, The Sound is located near the coast; an easy walk to East Coast Park via the Siglap Park connector.
It has a prime address on East Coast Road in District 15, the most popular district to live in Singapore and within its vicinity is an array of dining and entertainment options, and supermarkets.
Tao Nan and (CHIJ) Katong Primary Schools are within 1 km of this elegant development, and the Changi International Airport and Marina Bay New Downtown are minutes drive away along the verdant East Coast Expressway.
The Sound also offers efficient layout and the finest finishes and fittings, plus branded appliances in each stylish home. Your choice of homes at The Sound range from 1- to 4-bedroom apartments and unit sizes range from 581 to 1572 sq ft.
Soothing water features and swimming pools meander through a verdant landscape at The Sound and you can entertain friends amidst nature at the dining pavilion which comes with lounge decks and an outdoor kitchen. Make this elegant development your home and soak in The Sound’s many riches.
According to today’s CNA’s report, the primary condo sales market in Singapore rebound to life from increased sales. The improved sales volume came as developers launched 1,790 new units in May, nearly three times more than the 600 homes in the previous month. Is this trend sustainable?
SINGAPORE: The private residential property market sprang to life in May after months of remaining in the doldrums, with developers’ sales surging 96 per cent as buyers snapped up units at the slew of new launches last month.
Developers sold 1,470 new private homes last month, nearly doubling the 749 units that they moved in April, latest data by the Urban Redevelopment Authority (URA) showed on Monday (June 16). Including executive condominiums (ECs), new developer sales rose to 1,528 units in May from 797 units in April.
The improved sales volume came as developers launched 1,790 new units into the market in May, nearly three times more than the 600 homes recorded in the previous month.
Two projects by City Developments topped the best-selling list for the month. Coco Palms at Pasir Ris Grove moved 590 of the 600 condominium units launched at a median price of S$1,018 per square foot (psf), while Commonwealth Towers at Commonwealth Avenue sold 275 of 400 homes at S$1,626 psf.
Besides the successes of new launches, May also saw another re-launch that did well: Wheelock Properties’ The Panorama at Ang Mo Kio sold 100 of the 126 units offered last month at a median of S$1,241 psf.