LANDED MARKET MOVEMENTS

URA’s property price index showed that overall private home prices rose for the 10th straight quarter in Q3 2022, growing at 3.8% QOQ - following a 3 5% growth in the last quarter. Private home prices have since risen by 7 8% year-to-date

Luxury non-landed homes (>S$5M) saw a total of 110 transactions in Q3 2022, unchanged from the 2nd quarter However, the total quantum invested in Q3 was close to S$1 5B, up 15 5% QoQ The majority of the demand came from the Chinese, American and Malaysian nationals.

As the rise of home prices in Outside of Central Region (OCR) outpaced that of the other sub-markets, buyers are increasingly finding value in Core Central Region (CCR) where prices for non-landed homes grew fractionally by 2.3% QoQ as well as in the Rest Of Central Region at 2 5% QoQ

Q3 2022 figures have continued to demonstrate the strong purchasing power of buyers despite the tightening of the total debt servicing ratio (TDSR) under the 4% medium-term interest rate stress test from the recent round of cooling measures Higher mortgage rates appear to have limited impact on sentiments as the private residential market remains unabated and sees a healthy, moderate growth due to fresh mass market condo launches at new benchmark prices amidst strong household balance sheets, tight domestic labour market, limited unsold inventory and sustained income growth.

Price & Rental Index of Office Space in Q3 2022

Muted transaction activity – sales momentum in the office property market slowed, with 80 deals worth $371 million done during the quarter, according to caveats lodged, which is 6 less from the previous quarter, based on caveats lodged.

Buoyant rental market – overall rentals of office space rose by 2.1% QOQ on healthy office space demand and lower vacancies.

Limited new completions – in the last quarter of 2022, an estimated 24,000 sq m of office space is expected to be completed – the limited incoming supply will ensure stability in office occupancies Despite the projected 231,000 sq m of new supply in 2023, rentals are expected to stay resilient amid robust leasing demand from occupiers.

Ar. Yii Yeong Ginn (BOA reg. 268-3) or commonly known as Ar. Ginn, is a wellexperienced Registered Architect with more than 14 years of practicing experience.

One of the most amazing architectural design experiences of her is a 2-story GCB with a basement and an attic floor for a family at Gallop Road

The owner’s design requirement asks for timeless yet grand architecture featuring a pool and garden’s centric layout with exclusive privacy

One of the worth mentioning design decisions is to introduce the solid teak wood ceiling at the roof eaves and its car porch, paired with a timber look-alike aluminum facade screening for the reason of better easier maintenance The end result blends well and camouflages holistically

Another challenging design feature is the Frank Lloyd-Wright-inspired stained glass at the main entrance that is solely handcrafted by glass artists from Europe It took a year for design and submission (2015) and another (2016) for construction