Issuu on Google+

PropertyMonster.com.sg

March 2011 PROPERTY MONSTER 1


Condo on the Cover

Contents

Far East Organization’s The Tennery. For more information, please visit fareast.

Property Monster Magazine, Issue #001

3 Editor’s Note 4 Newsbites

F E AT U R E D 6 HDB Ownership Made Affordable Think that buying a flat is out of your reach? Not so much if you know these useful tips

8 Where They Live Happily Ever After Recently-married couples celebrate their recently-bought homes

10 Market Watch I Be in the know of the current HDB flat prices and loan rates

Full page advertisement Behind Front Cover (BFC) Size: A3 (H: 297mm x L: 420mm)

11 Where They Live Happily Ever After Recently-married couples celebrate their recently-bought homes

11 Where They Live Happily Ever After

com.sg

ON THE COVER

15

Buyers finding more options at Far East Organisation’s Soho offering - the Tennery

Recently-married couples celebrate their recently-bought homes

11 Websites and Houses Recently-married couples celebrate their recently-bought homes

12 Property Monster Property Index Our very own index, covering all ups and downs of the housing districts in Singapore

14 Market Watch II Private units: transactions & rentals

16 Listings Dozens of homes for your perusal

21 Hot Property

16 Overseas Listings Dozens of homes for your perusal

21 Hot Property

We wish we were

We wish we were

living in these

living in these

houses too.

houses too.

Half page advertisement Contents Page Size: H: 187mm x L: 270mm)

2 PROPERTY MONSTER March 2011

PropertyMonster.com.sg

PropertyMonster.com.sg

March 2011 PROPERTY MONSTER 1


Property Monster Magazine #001 Editor Rebecca Ling Writers Mr. Propwise Nazir Amir Xian Yong Boon

Editor’s Note Celebrating everything sparkling and brand new in our first issue of Property Monster

Designer Mohammad Zakri Web Developer Kaung Thu Win

Welcome to our bright and sparkling first issue of Property Monster!

Photographers Eric Tan Koh Zhiyong Poh Yong Hui

Thank you so much for joining us in the birthing of a brand new property magazine concept. This magazine aims to bring you, dear reader, an easily digestible read on what’s going on in the local real estate scene ­— completely free of charge and delivered directly to you, dear reader.

Managing Director Vince Toh Operations Manager Koh Kai Meng Sales Team Lee Wei Jun Jacky Liew Woo Guo Wei See Jun Cheng

Full page advertisement Behind Contents Page (BCP) Size: A3 (W: 297mm x H: 420mm) 1-time Booking Fee: S$1,600

Circulation for Issue 1: 20,000 copies PROPERTY MONSTER: MICA(P)155/10/2010. ISSN 0122 – 8223, is a monthly publication that is distributed free of charge to regional households (landed and non-landed, private and public). Publisher: Just Raw Pte. Ltd. 2 Ang Mo Kio St 64 #03-02 Econ Industrial Building Singapore 569084. Tel: (65) 6483 7641. Website: www.propertymonster.com.sg

More than just about data and figures, we also feature the quirks that make living in Singapore such a unique experience. From showing you the best places to live if you are a die-hard foodie to giving you the meaning of what it is like to be a Yishunite or Thomsoner, Property Monster is all about the houses AND the people who live in them. We also hope to help you with your property queries, so we have specially roped in local housing experts to give some insight into your nagging questions – just for you. If you are looking to be more connected to real estate, our just-launched website www. propertymonster.com.sg is a property portal itself! Read our articles online as well as check out the latest property listings from your favourite electronic device: laptop, iPad or smartphone. Life is indeed good these days with sophisticated mobile technology.

“More than just data and dry figures, we also feature the everyday quirks and features that make living in Singapore such a unique experience.” We also scoured the news to come up with useful tips for making ownership more affordable for the HDB flat buyer (page 6). We’ve compiled private housing info into a comprehensive residential index (page 10 11) and gave you a glimpse of today’s hottest condos (page 21). So here’s to a great start.

Find Property Monster on Facebook & Twitter! Want real time property updates? ‘Like’ us on Facebook and follow us on Twitter

Government-induced cooling or not, Singaporean real estate is HOT.

facebook.com/PropertyMonster

Rebecca Ling, Editor Twitter: @PropertyMonster Email: Editor@PropertyMonster.com

twitter.com/PropertyMonster

For advertising enquiries, please email sales@propertymonster.com.sg To subscribe, please email subscribe@propertymonster.com.sg DISCLAIMER: The views and opinions expressed in Property Monster are not necessarily the views of the publisher. While every care has been taken in the production of the magazine, the publisher takes no responsibility for any errors, omissions or losses that may occur. Currencies quoted are in Singapore Dollars unless otherwise stated. All rights reserved. No part of Property Monster, written or pictorial may be reproduced in any form without written permission of the publisher. © 2010 by JUST RAW PTE LTD. Neither the publishers nor the advertisers can be held liable for any errors, inaccuracies and/or omissions in information, howsoever caused. The publisher shall not be liable for any actions taken based on the views expressed, or information provided in this publication and should not be taken or construed as an offer or, or giving of, advice to buy and sell properties. Readers should always seek professional advice from the appropriate advisor or institution and verify the required information from the original sources and the relevant authorities.

2 PROPERTY MONSTER March 2011

PropertyMonster.com.sg

PropertyMonster.com.sg

Property Monster Website Ad News and new features/Tips & Tricks

March 2011 PROPERTY MONSTER 3


News Bites

News Bites

New private home sales fall in December 2010

Month in 2010

No. of new private home units sold

District 10 sees record property prices

1,596

$4,800

November

2,092

$4,358

December

1,699

$4,307

abstract of title A condensed version of the history of title to a piece of land that lists any transfers in ownership, as well as any liabilities attached to it, such as mortgages.

Above: Table of the number of new private home units sold, and the highest recorded psf in that month. Source: URA

abutting The joining, reaching, or touching of adjoining land. Abutting pieces of land have a common boundary.

Sales of new private homes totalled 1,332 units in December, down 583 units from November, the Urban Redevelopment Authority (URA) said. Inclusive of executive condominiums, or ECs, the total number of units sold amounted to 1,699 units. This is a sharp fall compared to November, when new private home sales including ECs numbered 2,092 units. But experts said the fall was seasonal in nature, given that the year-end is usually a lull period for the property market. Analysts say the latest round of cooling measures should stamp out speculation, especially in the mass market segment. The measures included seller stamp duties imposed at 16, 12, 8 and 4 per cent, respectively, for homes sold in the first, second, third and fourth year from purchase, as well as the lowering of the loan-to-value ratio to 60 per cent for individuals with outstanding mortgages.

Royal Group wins Ogilvy Centre hotel site

A bungalow in the prime district of Leedon Park was signed in December last year for a record $61.4million. The site is believed to have been bought for $59.4 million in June 2010, suggesting the previous owner may not have been able to hold on to the property as the $2million difference would only have been enough to recover the stamp duty and other expenses. In the district 10 area, nearly 300 transactions were signed, costing a total of $2billion. District 10 roughly covers Grange Road to Sixth Avenue, and more than 30 of the transactions involved properties costing at least $20million. These included a house in Ewart Park that went for nearly $40million or just over $1,000 psf, another in Belmont Road that went for $35.7million or $1,220 psf, and a Brizay Parkhome that was relatively cheaper at $941 psf. The costliest bungalow in psf terms was a 24,183 sq ft Nassim Road property that was sold for $43.53million in August. In fact, few properties in District 10 cost less than $1,000 psf. However, the costliest houses in Singapore are to be found on Sentosa Island where sites are said to have exchanged hands for more than $2,400 psf. A bungalow in Paradise Island is reported to have changed hands in June for $36million, despite bungalows on Sentosa being on 99-year leases. Properties in Sentosa are not affected by any foreign buyer restrictions.

The Urban Redevelopment Authority (URA) has awarded the tender for the 1,860 sq m site at the junction of Robinson Road and Boon Tat Street to Royal Group Holdings. Royal Group Holdings is expected to develop the iconic landmark conservation building opposite Lau Pa Sat into a 200-room hotel. Royal Group sent in the highest bid at $86million. The property has a total site area of 1,859.9 sq m and a maximum permissible GFA of 7,450 sq m, including the 4,016 sq m conservation building.

North-South Expressway alignment approved

Don’t know some of the property terms we use in the magazine? Refer to this column for a handy glossary.

Highest psf value recorded

October

Glossary

The costliest bungalow in psf terms was a 24,183 sq ft Nassim Road property that was sold for $43.53million in August. In fact, few properties in District 10 cost less than $1,000 psf.

acceleration clause A provision in a written mortgage, note, bond or conditional sales contract that, in the event of default, the whole amount of principal and interest may be declared to be due and payable at once. acceptance An offeree’s consent to enter into a contract and be bound by the terms of the offer. accretion An addition to land through natural causes. acknowledgment A declaration made by a person to a notary public, or other public official authorized to take acknowledgments, that the instrument was executed by him and that it was his free and voluntary act. acre A measure of land equal to 43,560 square feet. ad valorem Designates an assessment of taxes against property. Literally, according to value.

However, the costliest houses in Singapore are to be found on Sentosa Island where sites are said to have exchanged hands for more than $2,400 psf.

The government will acquire close to 40 lots and more than 30 part lots of land to facilitate the construction of a stretch of the North South Expressway (NSE) between Admiralty Road West and Toa Payoh Rise.

NSE will consist of a combination of viaduct and road tunnels to provide a new high speed road link from residential estates such as Woodlands, Sembawang, Yishun, Ang Mo Kio, Bishan and Toa Payoh to the city centre.

Planning, engineering and alignment studies for the southern segment of the NSE are still ongoing. The Orange Valley Nursing Home and Good Shepherd Chapel, as well as the Missionaries of Charity Gift of Love Home and Rose Villa would have to go, as a result.

Work on the new expressway is expected to start in 2013 and completed by 2020.

The Urban Redevelopment Authority (URA) said the sites at Marymount Terrace and Marymount Convent would be considered for residential development after the completion of the new expressway.

Location of site

NSE will consist of a combination of viaduct and road tunnels to provide a new high speed road link from residential estates such as Woodlands, Sembawang, Yishun, Ang Mo Kio, Bishan and Toa Payoh to the city centre.

Above: Illustration of the North-South Expressway that will run from Admiralty Road West to Toa Payoh Rise.

The following properties will be affected by the construction of the expressway: Marymount Convent: The living quarters of the Good Shepherd nuns and a nursing home will be acquired. Marymount Convent School beside it will not be affected.

Work on the new expressway is expected to start in 2013 and completed by 2020.

Marymount Terrace: Residents have been served land acquisition notices, with letters from the Singapore Land Authority (SLA) pasted outside every home.

Source: Channelnewsasia

The Seletaris in Sembawang, Nuovo, Bullion Park and Castle Green in Yio Chu Kang will have part of their fences, boundary walls and grass verge acquired.

Clementi Ave 4

Proposed Gross Plot Ratio

Industrial estates owned by JTC and HDB in places like Sin Ming and Woodlands will be acquired by the government.

Estimated No. of Units*

Launch Date

19

577

Jan 2011

Pasir Ris Central 1

8

46

Mar 2011

Fernvale Link (Sengkang)

27

579

May2011

270

Jun 2011

1.674

* The actual number of housing units could be different from the estimated quantum depending on the actual plans of the developers in terms of the size of the housing units.

Previous tenants, Ogilvy & Mather Singapore announced its relocation to 71 Robinson Road, a stone’s throw away from the Ogilvy Centre.

Horizontal Bar (Full Width) Size: H: 74mm x W: 270mm

4 PROPERTY MONSTER March 2011

NSE will consist of a combination of viaduct and road tunnels to provide a new high speed road link from residential estates such as Woodlands, Sembawang, Yishun, Ang Mo Kio, Bishan and Toa

Work on the new expressway is expected to start in 2013 and completed by 2020.

Sale of sites for development under Design, Build & Sell Scheme (1H2011)

Bendemeer Road

The costliest bungalow in psf terms was a 24,183 sq ft Nassim Road property that was sold for $43.53million in August. In fact, few properties in District 10 cost less than $1,000 psf.

The Urban Redevelopment Authority (URA) said the sites at Marymount Terrace and Marymount Convent would be considered for residential development after the completion of the new expressway.

Payoh to the city centre.

Total: 2,720

Horizontal Bar (Full Width) Size: H: 74mm x W: 270mm

PropertyMonster.com.sg

PropertyMonster.com.sg

March 2011 PROPERTY MONSTER 5


Featured Article

Featured Article

Documents to Prepare for Application of HDB Loan Eligibility (HLE) Letter

HDB OWNERSHIP

Made Affordable

Proof of income EITHER - Valid ACRA+ Computer Information (Business Profile) / Valid licence of business/trade; and - Latest Notice of Assessment from IRAS OR - Valid ACRA+ Computer Information (Business Profile) / Valid licence of business/trade; and - Certified Annual Statement of Accounts from an audit firm

Employed persons

Proof of income (excluding overtime and shift allowances and transport claims/reimbursements/expenses). Bonuses not included. For applicants:- Latest 3 months payslips OR - Recent letter from employer certifying job designation, commencement date and income for the last 3 months. AND - Past 15 months’ CPF contribution history

by Nazir Amir

SINGAPORE IS BECOMING WELL KNOWN for several opportunities to make fruitful investments. One popular investment that has been making the headlines in newspapers is property. Property has been facing such high demand that nowadays, even HDB flats can fetch up to 1 million dollars.

Above: Compulsory documents needed to apply for a HDB loan. For complete information and loan details, please log on to the HDB website, http:// www.hdb.gov.sg/

However, even in the midst of such a sizzling hot market, one can still own a home without breaking the bank. Various schemes implemented by HDB has created a few ways of achieving this.

Scheme, which allows you to double your chances if you choose to live within the same estate or 2 km from your parent’s block. Like the TCP Scheme, 5% of the available flats offered will be reserved for your balloting but even better than the TCP scheme: your chances are doubled. If it’s your first time applying for a new HDB flat, your chances are instantly quadrupled.

The Third-Child Priority (TCP) Scheme for example, gives priority to families with more than 2 children. If your third child is a Singapore citizen born on or after 1st Jan 1987, you stand a good chance of being able to buy a new flat from HDB as your application will sent to the first round of balloting and up to 5% of the available flat supply is set aside for offer to TCP applicants.

Now that you have increased chances of getting a new HDB flat, let’s look at making it affordable. Upon meeting certain requirements, poten-

Picture: January 2011’s BTO project, Golden Daisy at Bukit Batok.

your spouse in the long run of things. The last thing you want in a marriage is to argue over finances in the middle of your mortgage payments.

Should you be staying near your parents, the grant amount can hit $40,000 and even if your spouse has previously enjoyed a housing tial homeowners can qualify subsidy, you can gain at least to receive Additional CPF $15,000- $20,000. This is however, applicable only for Housing Grant (AHG). buyers of resale flats. The AHG amount will depend on your average Speaking of resale flats, it monthly household income, appears that the latest measwith up to $40,000 grant ures to curb property prices for a household income of are at least only affecting $1,500/month and $5,000 the COV, and as we speak, it for an average month- is declining at a steady rate. ly household income of $5,000/month. This grant Before you make your final can only be used as capital decision in purchasing a flat, payment towards the pur- remember to get your loan chase of the new flat or to re- from HDB instead of banks. duce the mortgage loan. This Currently going at 2.60%, benefit is available to both the interest rates provided new and resale flat buyers. are currently favourable and As for households with an in- will definitely aid you and

So while local property might be too costly for some, things might just be improving for first-time buyers. Take a moment to check out the details online, with friends, or with a housing agent to learn more about the schemes and grants available for you. Your home is probably going to be one of the biggest purchases you will ever make in your life. So aim to get it the best you can the first time round. For more information on HDB schemes and grants available, please log on to the HDB website, www.hdb.gov.sg For data charts of the latest HDB flat COV prices, please flip to page 13.

Horizontal Bar (Full Width) Size: H: 74mm x W: 270mm

Horizontal Bar (Full Width) Size: H: 74mm x W: 270mm

6 PROPERTY MONSTER March 2011

come above $5,000 but below $8,000, there is still the CPF housing grant. For married couples that are firsttimer applicants, you stand to receive up to $30,000.

“The last thing you want in a marriage is to argue over finances in the middle of your mortgage payments.”

Since the most affordable form of property currently is the humble HDB flat, we will look at the ways in which you can not only increase your chances of getting a flat, but affording it easily as well.

Yet another scheme to consider is the Married Child Priority (MCP)

Self-employed (Persons who operate a business or are not employed by a company)

PropertyMonster.com.sg

PropertyMonster.com.sg

March 2011 PROPERTY MONSTER 7


Featured Article

Featured Article

Where They Live

Dennes Tai and Ruth Wong

Happily Ever After

It was a bargain for both Dennes and Ruth when they managed to purchase their apartment at below the market value. Having saved quite a bit of money, they now had more leeway with their renovation budget. After a successful walk-in selection, the couple indulged their creative minds and had a hand in designing their new home.

To a layman, a house is merely a box with four (and usually more) walls with furniture inside. To a couple in love, it is their sacred sanctuary. BOON XIAN YONG spoke to two young Singaporean couples who shared their stories of settling into their new homes.

The renovation works entailed stripping the old floors and installing veneer flooring. The couple also ingeniously covered up the unsightly bomb shelter

When we were young, we grew up with fairytales. Even as adults,these tales still resonate with us. Each story revolves around a recurring pattern: the protagonists have to jump through many hoops before they finally find true love. And when they do, the characters will throw a lavish wedding and join each other in matrimony. After the celebrations, they scurry off to their sanctums, where they live happily ever after.

door with a feature wall. To give the dining area a contemporary look, they knocked down a partitioning wall and replaced it with tinted glass. “Our favourite corner is the tiny reading area just beside our living room,” says Dennes. Once a balcony, the couple decided to do away with it and transform the area into one where they can seek quietude. Whenever they receive house guests, the couple would also seat them in this cozy area. While they had their favour-

ites, our pick goes to the walk-in wardrobe in the master bedroom. It is every woman’s dream come true. The array of clothes is in full view, which makes choosing an outfit a cinch. The walkin wardrobe also adds a pleasant surprise to the overall treatment of the room. Having a bundle of joy is also in their future plans. Without a doubt, the family will live happily ever after in their lovely home.

Fast forward to the modern day: many couples still do write their own versions of a fairytale, which culminate into the wedding of their dreams and settling into a residence that they create together.

Kelvin Chen and Joanne Ang

a breathtaking, panoramic view of Bedok reservoir.

As we step inside their house, we are immediately drawn to the exquisite chandeliers adorning the house.

As Kelvin so aptly puts it, “Staying in our new house is like staying in a weekend resort. It’s a vacation for us.” Indeed. Much thought has been put into the interior design, as the house epitomises the look and feel of a five-star hotel.

Kelvin reveals they spent a hefty sum of money on the lightings alone, but it was money well spent, as the lights consummate the modern look of the house. All three rooms in their unit overlook the reservoir as well as the condominium’s swimming pool. It was a case of love at first sight for Joanne when she first saw the spacious swimming pool. Not only that, the newlywed couple would wake up every morning to a splendid sight of

8 PROPERTY MONSTER March 2011

Still reeling from their wedding and honeymoon, the couple, who has only been married for two months at the time of publication, has yet to soak it all in. “I guess we have not broken out of the habit of living with our parents. We have a guest bedroom, which our parents can use when we invite them over for a sleepover,” Kelvin quips.

PropertyMonster.com.sg

PropertyMonster.com.sg

March 2011 PROPERTY MONSTER 9


February 2011

The Property Monster Residential Index Price (psf)

Legend

D6. City, City Hall

D1. City, Marina Area

Percentage difference from previous month

District number

D24

District Guide:

West of Singapore

Central Singapore

Beach Rd, Bencoolen Rd, Bugis, Rochor

Anson Rd, Chinatown, Neil Rd, Shenton Way, Tanjong Pagar

East of Singapore

D8. Central, Little India

D3. Central South

D13. City, Marina Area

Potong Pasir, MacPherson

D14. Central East, Eunos Eunos, Geylang, Kembangan, Paya Lebar

Little India, Farrer Park, Serangoon Rd

Alexandra Rd, Tiong Bahru, Queenstown

Average per square foot price

Balestier, Moulmein, Novena, Toa Payoh

D7. City, Beach Rd

D2. Central CBD

+0.08% AVG $808psf

D12. Central, Toa Payoh

City Hall, High Street, North Bridge Rd

Boat Quay, Chinatown, Suntec City, Havelock Rd

D9. Central, Orchard

D4. South, Keppel

Keppel, Mount Faber, Sentosa, Telok Blangah

D5. South West

D15. East Coast, Katong Katong, Marine Parade, Siglap, Tanjong Rhu

Cairnhill, Killiney, Leonie Hill, Orchard, Oxley

D10. Central, Tanglin

Balmoral, Bukit Timah, Holland, Orchard Boulevard, River Valley

Buona Vista, Dover, Pasir Panjang, West Coast

D16. Upper East Coast Bayshore, Bedok, Chai Chee

D17. Far East, Changi

Changi, Loyang, Pasir Ris

D11. Central, Newton

D27 D25

+0.8% AVG $808psf

+0.08% AVG $808psf

+0.08% AVG $808psf

D11 D10 D5

+3.24% AVG $808psf

Clementi, Upp Bukit Timah, Hume Avenue

D22. Far West, Jurong Boon Lay, Jurong, Tuas

D23. North West

Bukit Batok, Choa Chu Kang, Hillview Ave, Upp Bukit Timah

D24. Far North West

Kranji, Lim Chu Kang, Sungei Gedong, Tengah

D25. Far North

Admiralty, Woodlands

D26. North

Tagore, Yio Chu Kang

D27. Far North, Yishun

Admiralty, Sembawang, Yishun

Seletar, Yio Chu Kang

D19

+0.98% AVG $1,208psf

D21. Central West

+0.08% AVG $808psf

D20

D22

AVG

Ang Mo Kio, Bishan, Thomson

D28. North East, Seletar

+3.13% $808psf

+1.08% AVG $808psf

D21

Pasir Ris, Simei, Tampines

Hougang, Punggol, Sengkang

D26 D23

D18. Far East, Tampines D19. North East, Hougang

+0.5% AVG $808psf

D28 D24

Chancery, Bukit Timah, Dunearn Rd, Newton

D20. Central North, Ang Mo Kio

+0.08% AVG $808psf

D13 +3.76% AVG $808psf

D12

+6% AVG $808psf

+3.42% AVG $808psf

+4.26% AVG $808psf

+1.1% AVG $808psf

D14

+3.76% AVG $808psf

D3

D15

+5.66% AVG $808psf

D2

+5.76% AVG $808psf

D4

D1

+9.24% AVG $808psf

D18

+1.4% AVG $808psf

D16

D17

+0.3% AVG $808psf

+0.28% AVG $808psf

+2.33% AVG $808psf

+3.54% AVG $808psf

D8

D9

+5.26% AVG $808psf

+5.24% AVG $808psf

D7

+4.88% AVG $808psf

Notes: • • • •

All information and figures are correct at the time of printing unless otherwise stated. This diagram is meant to be a rough guide to property prices in Singapore. Please consult the official channels of information for the specific figures. Always remember to employ the professional advice from a certified real estate agent or a governmental official before your property purchase. This diagram is not drawn to scale; district boundaries are for representational purposes only.

10 PROPERTY MONSTER March 2011

D6

PropertyMonster.com.sg

PropertyMonster.com.sg

+5.98% AVG $808psf

March 2011 PROPERTY MONSTER 11


MARKET WATCH

MARKET WATCH

Overseas Loan Bank Rates Notes

Notes

All rates are updated as of 22 November 2008 and are monthly rest except

1. ( - ) indicates no resale transactions in the quarter

for DBS, which is daily rest. All rates are subject to change without prior

2. Figures in asterisks (“ * “) refer to cases with less than 20 resale

DEVELOPMENT BANK OF SINGAPORE (DBS)

notice.

transactions in the quarter for the particular town and flat type. As such,

SIBOR* Package:

DBS : SIBOR*=Singapre Interbank Offered Rate. The effective interest rate will vary depending on the loan packages.

Bank/ Finance Company

Year 1 (%)

Year 2 (%)

Year 3 (%)

Year 4 (%)

Thereafter (%)

SIBOR+1.25%

SIBOR+1.25%

SIBOR+1.25%

SIBOR+1.25%

SIBOR+1.25%

3-Year:

SIBOR+0.80%

SIBOR+0.80%

SIBOR+0.80%

SIBOR+1.25%

SIBOR+1.25%

HONG LEONG SINGAPORE FINANCE LTD Combi Homebliss Loan

3-Room

4-Room

5-Room

Executive

Overall

Ang Mo Kio

-

$20,000*

$20,000

$25,000

$35,000

-

$20000

Bedok

-

$23,000*

$20,000

$25,000

$35,000

$41,000*

$24,000

3. The data above excluded transactions that may not

Bishan

-

-

$24,500*

$28,000

$42,500

$42,500*

$32,000

accurately reflect the market price such as:

Bukit Batok

-

-

$18,000

$23,000

$25,000

$30,000

$20,000

Resale of part shares

Bukit Merah

$11,500*

$20,000*

$24,000

$30,000

$30,000

-

$26,000

Hong Leong (S) Finance Ltd : Special Home Rate (SHR) is currently at

Resale between related parties

Bukit Panjang

-

-

$20,000

$21,500

$25,000

$44,000

$23,000

7.25% p.a.

Cases under the Conversion Scheme

Resale of terrace flats, converted flats and HUDC flats

Bukit Timah

-

-

$35,000*

$51,000*

$38,000*

$59,000*

$50,000

Unsold flats sold in the open market at market value

Central

-

-

$20,000

$20,500*

$38,900*

-

$20,000

Choa Chu Kang

-

-

$21,500*

$19,900

$20,000

$24,000

$20,000

4. The data above excluded transactions where there was no valuation 2.88%

2-Year Fixed Rate Package (<=80% Financing)

3.38%

3.38% 3.58%

3.68% 3.68%

3.68% 3.68%

3.68% 3.68%

Singapura Finance Ltd : Singapura Leanding Rate (SLR) currently at 3.25%

done for the particular flat.

Clementi

-

-

$23,300

$39,000

$30,500*

$33,000*

$25,500

p.a. Sing Investments & Finance Ltd : Special Interest Financing Rate

5. The figures are rounded to the nearest hundred dollars

Geylang

-

$17,000*

$16,000

$30,000

$40,500

$35,000*

$20,000

(SIFR_0308) currently at 4.50% p.a.

6. Captured from www.hdb.gov.sg (updated on 23 Jul 2010)

Hougang

-

-

$18,500

$23,000

$25,000

$35,000

$23,000

Jurong East

-

-

$17,000

$26,000

$27,000

$35,000*

$23,000

Jurong West

-

$30,000*

$19,000

$20,000

$19,000

$23,000

$20,000

Kallang/Whampoa

-

$20,000*

$20,000

$30,000

$32,500

$28,000*

$25,000

Marine Parade

-

$11,500*

$23,000

$30,000*

$42,500*

-

$29,000

Pasir Ris

-

-

$27,000*

$20,000

$25,000

$35,000

$25,000

Punggol

-

-

-

$30,000

$23,800

$29,000*

$25,000

Queenstown

-

$19,500*

$20,000

$40,000

$50,000*

$34,000*

$23,000

Sembawang

-

-

-

$18,000

$17,000

$20,000*

$19,000

Sengkang

-

-

-

$25,000

$23,500

$30,000

$25,000

Serangoon

-

-

$18,000

$30,000

$30,800

$33,000*

$28,000

Tampines

-

-

$20,000

$24,500

$26,000

$33,000

$25,000

Toa Payoh

-

$22,000*

$18,000

$29,500

$40,500

$50,000*

$22,000

Woodlands

-

-

$20,000

$20,000

$18,000

$34,000

$20,000

Jurong West

-

$30,000*

$19,000

$20,000

$19,000

$23,000

$20,000

Kallang/Whampoa

-

$20,000*

$20,000

$30,000

$32,500

$28,000*

$25,000

Marine Parade

-

$11,500*

$23,000

$30,000*

$42,500*

-

$29,000

Pasir Ris

-

-

$27,000*

$20,000

$25,000

$35,000

$25,000

Punggol

-

-

-

$30,000

$23,800

$29,000*

$25,000

Queenstown

-

$19,500*

$20,000

$40,000

$50,000*

$34,000*

$23,000

Sembawang

-

-

-

$18,000

$17,000

$20,000*

$19,000

Sengkang

-

-

-

$25,000

$23,500

$30,000

$25,000

Serangoon

-

-

$18,000

$30,000

$30,800

$33,000*

$28,000

Tampines

-

-

$20,000

$24,500

$26,000

$33,000

$25,000

Toa Payoh

-

$22,000*

$18,000

$29,500

$40,500

$50,000*

$22,000

Woodlands

-

-

$20,000

$20,000

$18,000

$34,000

$20,000

$11,500

$20,000

$20,000

$23,000

$25,000

$32,000

$23,000

UOB : Current mortgage rate is 4.50% p.a.

OVERSEAS CHINESE BANKING CORP LTD (OCBC) Variable Rate Package: (up to 80%) SINGAPURA FINANCE LTD

2-Room

OCBC : Value Rate (VR) is currently at 4.50% p.a.

Variable Loan Package: (<=80% Financing)

3.25%

3.50% (Fixed)

3.25%

SING INVESTMENTS & FINANCE LTD Variable Rate Package: (up to 80%) UNITED OVERSEAS BANK GROUP (UOB) Home Loan Package, Floating Rate Package: (<=80%)

3.50%

3.50%

3.75%

3.50%

3.75%

3.75%

3.75%

3.75%

4.00%

3.75%

4.00%

3.75%

4.00%

3.75%

4.00%

3.75%

4.00%

Overseas Loan Bank Rates Bank/ Finance Company

Year 1 (%)

Year 2 (%)

Year 3 (%)

Year 4 (%)

Thereafter (%)

DEVELOPMENT BANK OF SINGAPORE (DBS) SIBOR* Package: Nil

SIBOR+1.25%

SIBOR+1.25%

SIBOR+1.25%

SIBOR+1.25%

SIBOR+1.25%

3-Year:

SIBOR+0.80%

SIBOR+0.80%

SIBOR+0.80%

SIBOR+1.25%

SIBOR+1.25%

Overall

HONG LEONG SINGAPORE FINANCE LTD Combi Homebliss Loan

Median COV prices by town, Feb 2011

Variable Loan Package: (<=80% Financing)

2.88%

3.38%

3.68%

3.68%

3.68%

2-Year Fixed Rate Package (<=80% Financing)

3.38%

3.58%

3.68%

3.68%

3.68%

3.25%

3.50%

3.75%

3.75%

3.75%

3.50% (Fixed)

3.75%

3.75%

4.00%

4.00%

3.25%

3.50%

3.75%

3.75%

3.75%

3.50%

3.75%

4.00%

4.00%

4.00%

OVERSEAS CHINESE BANKING CORP LTD (OCBC) Variable Rate Package: (up to 80%) SINGAPURA FINANCE LTD

Town

1 Room

they may not be representative.

Nil

Median COV Prices by Town and Flat Type for Resale Cases Registered in 4th Quarter 2010

SING INVESTMENTS & FINANCE LTD Variable Rate Package: (up to 80%) UNITED OVERSEAS BANK GROUP (UOB) Home Loan Package, Floating Rate Package: (<=80%)

12 PROPERTY MONSTER March 2011

Legend PropertyMonster.com.sg

PropertyMonster.com.sg

< $20,000 - $24,999

$25,000 - $29,999

> $30,000

March 2011 PROPERTY MONSTER 13


MARKET WATCH

MARKET WATCH

Median Prices of Private Housing Sold in Q4 2010 Project Name

District No.

Units Sold in the Month

Median Price ($psf) in the Month

Project Name

District No.

Units Sold in the Month

Median Price ($psf) in the Month

DISTRICTS 16 - 20

DISTRICTS 01 - 05 Altez

02

04

2,491

Centro Residences

20

07

1,417

Ascentia Sky

03

05

1,321

Esparina Residences

19

19

770

Lumiere

02

04

2,109

Kovan Residences

19

06

963

Horizon Residences

05

03

1,592

NV Residences

18

17

858

Robinson Suites

01

157

2,941

Oasis@Elias

18

23

709

Spottiswoode Residences

02

30

2,051

Prive

19

326

704

The Interlace

04

16

994

Space @ Kovan

19

109

1,227

Surin Villas

19

05

524

The Minton

19

10

849

DISTRICTS 06 - 10 Belle Vue Residences

09

03

2,305

Cavan Suites

08

07

1,678

Dâ&#x20AC;&#x2122;Leedon

10

18

1,540

The Waterline

19

07

1,025

Waterfront Gold

16

22

950

Waterfront Key

16

04

1,049

Waterview

18

78

903

Espada

09

03

2,319

Loft @ Nathan

10

16

1,841

Nathan Suites

09

05

2,324

DISTRICTS 21 - 28

Suites At Orchard

09

05

2,081

Floridian

21

09

1,804

The Cascadia

10

33

1,403

Jardin

21

03

1,984

The Holland Collection

10

03

2,005

Mi Casa

23

03

892

The Laurels

09

04

3,161

The Canopy

28

22

656

The Orange Grove

10

05

2,300

The Greenwich

28

03

1,239

The Trizon

10

04

1,531

The Lakefront Residences

22

35

1,041

The Vermont On Cairnhill

09

05

2,368

The Tennery

23

220

1,118

Tomlinson Heights

10

03

3,311

Centro Residences

DISTRICTS 11 - 15 16 @ Amber

15

13

1,674

Aalto

15

14

1,943

Espira Suites

15

06

1,210

Lâ&#x20AC;&#x2122;Viv

11

03

2,266

Lincoln Suites

11

03

2,120

Meier Suites

15

04

1,301

Nin Residence

13

71

1,254

Onan Suites

15

10

1,078

Parc Elegance

15

03

1,259

Prestige Heights

12

06

1,484

Silversea

15

14

1,704

The Glyndebourne

11

04

2,079

The Greenwood (Phase 5)

11

05

1,013

The Shore Residences

15

09

1,318

Tivoli Grande

15

06

1,246

Vacanza @ East

14

17

1,081

Vista Residences

12

08

1,479

Centro Residences

20

07

1,417

Esparina Residences

19

19

770

Kovan Residences

19

06

963

Rentals of non-landed residential buildings with at least 10 rental contracts signed in 2Q10

Notes 1) Includes Executive Condominiums (ECs).

20

07

1,417

Esparina Residences

19

19

770

Kovan Residences

19

06

963

NV Residences

18

17

858

Oasis@Elias

18

23

709

Prive

19

326

704

Space @ Kovan

19

109

1,227

Surin Villas

19

05

524

The Minton

19

10

849

The Waterline

19

07

1,025

Waterfront Gold

16

22

950

Waterfront Key

16

04

1,049

Waterview

18

78

903

DISTRICTS 21 - 28 Floridian

21

09

1,804

Jardin

21

03

1,984

Mi Casa

23

03

892

The Canopy

28

22

656

Notes 1) Includes Executive Condominiums (ECs). 2) Units launched and sold include units offered and sold by developers during previews.

2) Units launched and sold include units offered and sold by developers during previews.

Project Name Allsworth Park

10

2.72

3.16

3.64

Changi Rise Condominium

18

2.30

2.58

2.76

# $psf: 1) For conventional landed housing, the unit transacted price (in $ psf) is computed based on land area.

Amaryllis Ville

11

4.44

4.92

5.27

Chiltern Park

19

2.28

2.52

2.67

Anchorage, The

3

2.80

2.99

3.23

Chuan Park

19

1.89

2.16

2.27

Aquarius By The Park

16

2.57

2.67

3.02

Chuan, The

19

3.28

3.62

3.86

2) For strata sub-divided housing such as apartments, condominiums and strata landed housing (ie. cluster housing/townhouses), the unit transacted price (in $ psf) is computed based on strata area.

Comparison table of number of units and unit price of housing sold ($psf) per district Districts 20 - 28 16 - 20 11 - 15 6 - 10 1-5 $0.00

$500.00

$1,000.00 $1,500.00 $2,000.00 $2,500.00

Analysis 1) Includes Executive Condominiums (ECs). 2) Units launched and sold include units offered and sold by developers during previews. # $psf: 1) For conventional landed housing, the unit transacted price (in $ psf) is computed based on land area. 2) For strata sub-divided housing such as apartments, condominiums and strata landed housing (ie. cluster housing/townhouses), the unit transacted price (in $ psf) is computed based on strata area.

Postal District

$ psf pm

Project Name

Postal District

$ psf pm

Ardmore Park

10

5.42

5.96

6.51

City Square Residences

8

3.45

3.77

4.41

Aspen Heights

9

3.63

3.78

4.15

Citylights

8

4.48

4.86

5.50

Astor Green

21

2.81

2.86

2.94

Claymore, The

9

4.56

5.21

5.64

Astoria Park

14

2.75

2.93

3.21

Clearwater, The

16

2.35

2.47

2.51

Astrid Meadows

10

3.47

4.41

4.80

Clementi Park

21

2.13

2.35

2.57

Atria At Meyer, The

15

2.63

2.85

3.00

Coast At Sentosa Cove, The

4

4.24

4.45

4.84

Atrium Residences

14

1.95

2.45

2.54

Compass Heights

19

2.40

2.56

2.86

Ava Towers

12

2.08

2.41

2.53

Cosmopolitan, The

9

5.00

5.13

5.26

Avila Gardens

17

1.82

2.06

2.35

Costa Del Sol

16

3.31

3.49

3.84

Avon Park

13

1.77

2.08

2.30

Costa Rhu

15

2.79

3.03

3.38

Azalea Park Condominium

17

1.75

1.98

2.10

Cote D'azur

15

3.63

3.81

3.99

Azure, The

4

4.33

4.59

4.85

Cuscaden Residences

10

5.06

5.55

5.75

Ballota Park Condominium

17

1.75

1.92

2.11

Dairy Farm, The

23

1.83

2.01

2.24

Bayshore Park

16

2.58

2.82

3.05

Dover Parkview

5

2.99

3.20

3.51

Bayshore, The

16

2.60

2.78

2.98

Dragon Mansion

2

1.52

1.80

1.98

Belvedere, The

15

4.02

4.32

4.48

Duchess Crest

10

3.36

3.68

3.95

Bencoolen, The

7

3.89

4.23

4.70

East Meadows

16

2.64

2.70

2.90

Total Units Sold

Berth By The Cove, The

4

4.70

4.80

5.86

Eastern Lagoon

15

2.71

2.93

3.28

Average Price

Bishan 8

20

3.01

3.27

3.35

Eastpoint Green

18

2.45

2.65

2.81

Blossoms@Woodleigh

13

2.89

3.00

3.07

Edelweiss Park Condominium

17

2.14

2.35

2.64

Blossomvale, The

21

2.64

2.86

3.05

Elias Green

18

1.55

1.71

1.78

Blue Horizon

5

3.46

3.71

3.84

Emerald Garden

1

3.64

4.11

4.31

Botanic Gardens View

10

2.03

2.30

2.60

Emerald Park

3

3.07

3.32

3.80

Botannia

5

2.67

2.84

3.05

Esta, The

15

2.89

3.21

3.58

Bullion Park

26

2.22

2.38

2.78

Estella Gardens

17

2.05

2.24

2.59

Burlington Square

7

3.88

4.06

4.30

Evergreen Park

19

2.15

2.31

2.44

Butterworth 8

15

2.72

2.80

2.92

Faber Crest

5

2.89

2.97

3.04

Cairnhill Crest

9

4.63

4.92

5.66

Far Horizon Gdns

20

1.79

2.14

2.49

Calrose, The

26

2.68

2.81

2.94

Fernwood Terrace

15

2.08

2.26

2.51

Caribbean At Keppel Bay

4

5.09

5.49

6.12

Ferraria Park Condominium

17

2.30

2.44

2.76

Carissa Park Condominium

17

2.13

2.32

2.43

Four Seasons Park

10

4.71

4.97

5.22

Casa Merah

16

2.82

2.94

3.26

Gallop Gables

10

3.46

3.90

4.29

Casa Sarina

14

2.24

2.41

2.59

Gardens At Bishan, The

20

2.92

3.07

3.10

Casablanca

25

2.48

2.54

2.60

Glendale Park

23

1.99

2.16

2.24

Cashew Heights Condominium

23

1.76

1.91

1.98

Glentrees

10

4.28

4.65

5.27

Castle Green

26

2.44

2.71

2.82

Goodluck Garden

21

1.81

2.13

2.32

Cavendish Park

21

2.82

2.96

3.13

Grandeur 8

20

2.96

3.06

3.26

Central Green Condominium

3

3.10

3.41

3.83

Guilin View

23

2.46

2.55

2.90

Central Grove

14

2.83

2.91

3.04

Haig Court

15

2.68

2.76

2.87

Centris, The

22

2.69

3.12

3.68

Harbour View Towers

4

2.94

3.25

4.14

Changi Court

16

2.10

2.25

2.67

Harbourlights

4

3.72

3.95

4.10

The Greenwich

28

03

1,239

Changi Green

16

1.97

2.17

2.43

Hazel Park Condominium

23

1.84

1.95

2.11

The Lakefront Residences

22

35

1,041

Clementi Park

21

2.13

2.35

2.57

Clementi Park

21

2.13

2.35

2.57

The Tennery

23

220

1,118

Centro Residences

20

07

1,417

Esparina Residences

19

19

770

Coast At Sentosa Cove, The

4

4.24

4.45

4.84

Coast At Sentosa Cove, The

4

4.24

4.45

4.84

Compass Heights

19

2.40

2.56

2.86

Compass Heights

19

2.40

2.56

2.86

Cosmopolitan, The

9

5.00

5.13

5.26

Cosmopolitan, The

9

5.00

5.13

5.26

Costa Del Sol

16

3.31

3.49

3.84

Costa Del Sol

16

3.31

3.49

3.84

Costa Rhu

15

2.79

3.03

3.38

Costa Rhu

15

2.79

3.03

3.38

NV Residences

18

17

858

Oasis@Elias

18

23

709

Kovan Residences

19

06

963

NV Residences

18

17

858

Oasis@Elias

18

23

709

Prive

19

326

704

Dairy Farm, The

23

1.83

2.01

2.24

Dairy Farm, The

23

1.83

2.01

2.24

Space @ Kovan

19

109

1,227

Dover Parkview

5

2.99

3.20

3.51

Dover Parkview

5

2.99

3.20

3.51

Surin Villas

19

05

524

Dragon Mansion

2

1.52

1.80

1.98

Dragon Mansion

2

1.52

1.80

1.98

The Minton

19

10

849

Duchess Crest

10

3.36

3.68

3.95

Duchess Crest

10

3.36

3.68

3.95

The Waterline

19

07

1,025

Clementi Park

21

2.13

2.35

2.57

Clementi Park

21

2.13

2.35

2.57

950

Coast At Sentosa Cove, The

4

4.24

4.45

4.84

Coast At Sentosa Cove, The

4

4.24

4.45

4.84

Prive

19

326

704

Space @ Kovan

19

109

1,227

Surin Villas

19

05

524

The Minton

19

10

849

The Waterline

19

07

1,025

Waterfront Gold

16

22

950

Waterfront Key

16

04

1,049

Waterview

18

78

903

Waterfront Gold

16

22

DISTRICTS 21 - 28 Floridian

21

09

1,804

Cote D'azur

15

3.63

3.81

3.99

Cote D'azur

15

3.63

3.81

3.99

Cuscaden Residences

10

5.06

5.55

5.75

Cuscaden Residences

10

5.06

5.55

5.75

Compass Heights

19

2.40

2.56

2.86

Compass Heights

19

2.40

2.56

2.86

Cosmopolitan, The

9

5.00

5.13

5.26

Cosmopolitan, The

9

5.00

5.13

5.26

Costa Del Sol

16

3.31

3.49

3.84

Costa Del Sol

16

3.31

3.49

3.84

Costa Rhu

15

2.79

3.03

3.38

Costa Rhu

15

2.79

3.03

3.38

Jardin

21

03

1,984

Cote D'azur

15

3.63

3.81

3.99

Cote D'azur

15

3.63

3.81

3.99

Mi Casa

23

03

892

Cuscaden Residences

10

5.06

5.55

5.75

Cuscaden Residences

10

5.06

5.55

5.75

The Canopy

28

22

656

Dairy Farm, The

23

1.83

2.01

2.24

Dairy Farm, The

23

1.83

2.01

2.24

The Greenwich

28

03

1,239

The Lakefront Residences

22

35

1,041

The Tennery

23

220

1,118

14 PROPERTY MONSTER March 2011

PropertyMonster.com.sg

Dover Parkview

5

2.99

3.20

3.51

Dover Parkview

5

2.99

3.20

3.51

Dragon Mansion

2

1.52

1.80

1.98

Dragon Mansion

2

1.52

1.80

1.98

Duchess Crest

10

3.36

3.68

3.95

Duchess Crest

10

3.36

3.68

3.95

PropertyMonster.com.sg

# $psf: 1) For conventional landed housing, the unit transacted price (in $ psf) is computed based on land area. 2) For strata sub-divided housing such as apartments, condominiums and strata landed housing (ie. cluster housing/townhouses), the unit transacted price (in $ psf) is computed based on strata area.

Comparison table of rental prices ($psf) per district

Districts 20 - 28 16 - 20 Total Units Sold

11 - 15

Average Price 6 - 10 1-5 $0.00

$500.00

$1,000.00 $1,500.00 $2,000.00 $2,500.00

Analysis 1) Includes Executive Condominiums (ECs). 2) Units launched and sold include units offered and sold by developers during previews. # $psf: 1) For conventional landed housing, the unit transacted price (in $ psf) is computed based on land area. 2) For strata sub-divided housing such as apartments, condominiums and strata landed housing (ie. cluster housing/townhouses), the unit transacted price (in $ psf) is computed based on strata area.

March 2011 PROPERTY MONSTER 15


Full double page advertisement After Middle Section (AMS) Size: A2 (W: 594mm x H: 420mm)

16 PROPERTY MONSTER March 2011

Full double page advertisement After Middle Section (AMS) Size: A2 (W: 594mm x H: 420mm)

PropertyMonster.com.sg

PropertyMonster.com.sg

March 2011 PROPERTY MONSTER 17


Full double page advertisement After Middle Section (AMS) Size: A2 (W: 594mm x H: 420mm)

18 PROPERTY MONSTER March 2011

Full double page advertisement After Middle Section (AMS) Size: A2 (W: 594mm x H: 420mm)

PropertyMonster.com.sg

PropertyMonster.com.sg

March 2011 PROPERTY MONSTER 19


Thousandsof listings, Hundreds of exclusive tips Start your housing search here!

Hot property

Q4 2010’s condominium offerings have been very impressive, with mega-sites and SOHO units, the mix is truly catering to more and more niche crowds. Let’s take a closer look to see the exceptional few that have caught our eye. TOP: D’Leedon certainly made the headlines back then in late 2010 as being the most expensive residential project to be undertaken in Singapore. Back then in 2007, a CapitaLand-led consortium that included Hotel Properties Limited (a fund managed by Morgan Stanley Real Estate), and Wachovia Development Corporation bought the 840,049 sq ft site in a collective sale with a hefty $1.3billion price tag attached. Add in the costs of developing the District 10 project, and the total amount summed up to about $3billion. The 99-year leasehold residential project at Farrer Road also boasts the first female winner of the Pritzker Architecture Prize - Zaha Hadid.

www.propertymonster.com.sg 20 PROPERTY MONSTER March 2011

PropertyMonster.com.sg

PropertyMonster.com.sg

LEFT, TOP: Fancy waking up to an unobstructed view of Bedok Reservoir AND Tampines Quarry every morning? If you lived at Waterview @ Tampines, it could be a dream come true. Developer Sim Lian (Tampines One)’s hottest new project captured our attention as an idyllic resort home stashed serenely away far from the hustle and bustle of city life. Yet amenities are nearby too. Tampines Mall and Tampines One are a stone’e throw away, so residents are nestled in comfort. LEFT, BOTTOM: Far East Organisation’s Soho (small office, home office) apartments at The Tennery received more than 80% sales in a preview. The 338-unit offering is part of an integrated residential-retail development that Far East is building on the existing Ten Mile Junction site it won in a governmental tender in February. The retail section, Junction 10, is housed directly underneath the residential blocks, giving residents unparalleled convenience and maximum functionality.

March 2011 PROPERTY MONSTER 21


Full page advertisement Back Cover Size: A3 (W: 297mm x H: 420mm)

22 PROPERTY MONSTER March 2011

PropertyMonster.com.sg


Property Monster E Magazine