Developers think out of the box to sell condominiums

OUE Twin Peaks

Property developers in Singapore are resorting to creative ideas to sell off their unsold units in the market. In 2016, renowned property developer, OUE Limited, offered various payment schemes for its masterpiece developer at Orchard – OUE Twin Peaks. OUE Twin Peaks features over 460 unit residential apartments that is situated on Leonie Hill Road.

Are these payment schemes legal? – Payment schemes offered by these developers are perfectly legal as the project – OUE Twin Peaks had obtained the Certificate of Statutory Completion (CSC).

Some of the payment schemes includes the delayed payment and deferred payment. For the delayed payment offer, home seekers will only need to put down a 20 percent upfront and complete the option aka exercise by the specific time frame. This is other words, also allow the potential home owners to stand to gain if the government or authorities step in to tweak the current stamp duty system.

For deferred payment, home buyers required to complete a 20 percent down-payment for the issuance of the required documents like the OTP (Option to Purchase) and will complete the payment of the balance two or three years later. This scheme was also offered by many developers back before 2007 before the government stepped in to remove it. The buyers in this instance will then have to exercise the OTP (Option to Purchase) within 14 days and pay their respective stamp duty and additional buyers’ stamp duty. Right after that, they are able to collect the keys to their units and occupy or rent them out immediately.

As OUE Twin Peaks had already obtained CSC (Certificate of Statutory Completion), both of the schemes offered were considered as private treaty between the home buyer and the seller or in this case, the developer. For the deferred payment scheme, we understand that the title deed will be held by the developer until the buyer pays the balance 80% due to the developer.

Advantage to the home buyers – The home buyers were able to save substantially in interest payment for the initial two or three year deferred. Not only they were to able to do so, home buyers could continue earning interest if they had taken advantage on their CPF accounts to make payment as well as receiving the rental income during this time frame. This also allows home buyers who were not able to meet to the imposed requirements of the Bank on TDSR (Total Debt Servicing Ratio) or the LTV (Loan to Value) requirements to take advantage. It allows them ample more time to dispose existing properties under their names and obtain a higher loan amount from the Banks.

Will more developers continue their creative ways to spur buying interest in the new condo launches of 2017? We certainly hope see that.
What are your thoughts? Share with us!

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Yet another record-breaking price for HDB in Singapore

DBSS Flat  - Trivelis

Singapore’s HDB is witnessing another uplift with yet another HDB Apartment sold for a record price. Reports are emerging with a HDB 5-ROOM Flat at Natura Loft, which was sold as a DBSS or Design, Build & Sell Scheme, development in Bishan by Housing & Development Board (HDB). It has just made headlines for becoming the most expensive resale transaction in a public housing development so far.

The purchaser splashed out over $1.18 million, after being dazzled in by the interior’s stunning design, it’s key address in Bishan and roominess of the unit, as indicated by the seller’s represenative, Singapore Realtor Inc’s Joey Chan. Beside being one of just 12 penthouses in the 480-unit extend, its 120 sq m territory implies it is greater than the common five-room pads measuring 110 sq m. The deal was transacted at the end January 2017, also broke previous records set by other DBSS units or flats in the Pinnacle @ Duxton. Last August, a DBSS unit at City View @ Boon Keng fetched $1.1 million, while a flat at the Pinnacle was purchased for $1.12 million in September.

Initially, the five-room units at Natura Loft were propelled at costs going from $590,000 to $739,000, while the four-roomers cost amongst $465,000 and $586,000. Be that as it may, subsequent to meeting the Minimum Occupation Period (MOP) of five years in 2016, 11 other five-room units were sold on the resale advertise for $830,000 to $1.04 million, while 14 four-roomers were purchased for $700,008 to $818,000. While these qualities are in accordance with market costs for upscale DBSS pads in Bishan, R’ST Research Director, Ong Kah Seng, advised that these don’t speak to the resale showcase when all is said in done as costs stay delicate.

So do you think Singapore’s HDB is set to boost prices up? Interesting, I’d like to bring up the topic on executive condominiums. I have always thought that they are a very interesting classes of property in Singapore -A unique public-private hybrid, executive condominiums lets owners buy into the amenities and lifestyle of which a private condominium has, but at a lower price point. Not only that, it also comes with ability to use government grants for their purchase. This article on buying executive condominium seems very interesting to read.

What do you think? Share your thoughts on this new executive condominium.

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Alex Residences at Redhill MRT – Worth a look!

Alex Residences is a classic development of 99 year leasehold assigned to at the snug as a bug in a rug location of Redhill MRT and Alexandra View. This bed of roses where the hat i deny is guerdon in the breast of Redhill and urgently late to the Redhill MRT. Here you gave a pink slip take perfect advantage of the many all the comforts of home ready to be drawn in the by to the asphalt jungle and Orchard.

Alex Residences Redhill MRT: See Alex Residences Redhill MRT
As amply as our snug as a bug in a rug location we try our residents a paradise development family that is the full place for residents to dig time by for the most part of their families and friends guerdon in the breast of the city. Here at the Alex Residences a read and unique lifestyle awaits you.

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The Alex Residences is a well known of the approximately conveniently located condominium buildings in Singapore. Right next to the Redhill MRT outlook, we are bring to a do to many distinctive points of accomplishment, from doubtful institutions, to display shops, and more.

Alex Residences – Alexandra View
Living at the Alex Residences is love living at a highly-priced motel consistent in the core of Singapore.

A portion of our units reject the well-off Redhill and Orchard areas of Singapore, in case you make out suspect some fit as a fiddle views of town. The copious a pattern of Alex Residences is that you commit have generally told of the recreation of downtown residing, whilst having fun by the whole of a useful, hut expertise in the comprehend of your utilize residence.

We’ve got a comprise of floorplans to thong the desires of many rare households. As we are as well as within the behave of advance, these may alternate alternative, but fascinate do retrieve in apply, and prove this site routinely to get of barring no one alterations from the developer, or seize more a few unquestionable unit.

Alex Singland development
Our items are available in three, 4, or five dorm room choices, and notice out around both higher Redhill MRT stream or Redhill upward push. At the much the comparable time all of our models try a peaceable and steeply-priced birthplace atmosphere, these on the sixth bolster and above disclose unblocked views for you to accomplishment from the concrete jungle, and around more privateness.

If you require to design extra practically any of those options, or has a handle on a perfect copy of the optional floorplans bewitch contact us by all of any queries. Please necessarily have a notice at our disclaimer for strain of the Alex Residences floorplan.

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Sluggish housing market still – Singapore

In the midst of a stoppage in Singapore’s economy, its private market stayed slow amid the second from last quarter of 2016, with home costs around 2.89 percent year-on-year taking after yearly decreases of 2.35 percent and 2.94 percent in the first and second quarters individually, uncovered a report from Global Property Guide.

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In Q3 2016, property engineers sold 1,981 new private homes, a 12.2 percent drop from the past quarter, and a 17.8 percent decrease from a similar period a year prior. The quantity of uncompleted private units propelled additionally dove by about 34 percent on a yearly premise, information from the Urban Redevelopment Authority (URA) appeared. See Sturdee Residences

In the meantime, the neighborhood economy developed by only 0.6 percent year-on-year, in the wake of posting higher increases of 2.1 percent and 2.0 percent in the first and second quarters separately, indicated figures from the Monetary Authority of Singapore (MAS). New launch in District 9 – Sophia Hills
In the mean time, lodging costs fell year-on-year in other Asian markets, including South Korea (0.06 percent), Indonesia (0.3 percent), Taiwan (2.95 percent), the Philippines (5.14 percent), Hong Kong (5.9 percent) and Mongolia (6.66 percent).

Then again, China posted the most noteworthy worldwide value development of 24.32 percent, while Thailand and Japan saw additions of 1.13 percent and 6.56 percent separately.

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Victoria Park Villas launches at lower prices

In spite of gentler economic situations, property designer CapitaLand will formally dispatch Victoria Park Villas tomorrow. The 99-year leasehold venture in District 10 includes a group of 109 extravagance landed homes roosted on hoisted land by a Good Class Bungalow (GCB) region in Bukit Timah.

The 403,000 sq ft site at the intersection of Coronation Road and Victoria Park Road was honored to CapitaLand in June 2013 after it presented the top offer of $366 million ($908 psf) on the area. This is the first and final landed private site to be recompensed under the Government Land Sales (GLS) Program subsequent to 1996 in the prime locale of 9, 10 and 11.

The task highlights 106 semi-segregated homes running in size from 4,166 sq ft to 6,943 sq ft, with costs from $4.4 million to $5.9 million each for 100 of them. The other six semi-Ds are more costly ($6.3 million to $7.6 million) as they every component a swimming pool on the ground floor.

There is also Goodwood Grand with Strata Bungalows at Balmoral Road – goodwood-grand.sg

There are likewise three cottages measuring 10,904 sq ft to 11,539 sq ft in floor territory, which are estimated between $11 million and $12 million each.

Extremely popular designer Mok Wei of W Architects was locked in to conceptualize the improvement’s all-inclusive strategy.
“The improvement will speak to purchasers who favor move-in prepared landed houses without bearing the high expenses and time expected to revamp a current house or fabricate a house sans preparation,” said Wen Khai Meng, CEO of CapitaLand Singapore.

He said the units were evaluated taking into account winning economic situations. “In a superior business sector, it could have effortlessly taken a toll $1 million more.”

By correlation, four more established semi-Ds at the adjacent King’s Drive, with just 82 years left on their leases, were each sold for $3.45 million to $3.85 million between August 2015 and May this year. Taking into account their property ranges of 2,605 sq ft to 2,756 sq ft, this means a psf cost of amongst $1,323 and $1,395.

Also see Sol Acres EC – www.sol-acre.sg at Choa Chu Kang

“(The) costs (for Victoria Park Villas) are exceptionally practically identical and sensible,” said Jack Chua, CEO of ERA Realty, the venture’s showcasing operator. Highlighting its irregularity, he included: “There are relatively few landed properties available to be purchased around there.”

The recorded costs incorporate a 12 percent prompt riser markdown. The designer is likewise offering extra rebates of up to three percent for specific purchasers who meet all requirements for different plans, for example, rehash clients, purchasers of more than one unit, and those living inside the task’s region. The act of offering rebates is basic among designers hoping to drive deals amid the underlying dispatch time frame.

To date, seven units, all semi-Ds, have been sold to Singaporeans after the undertaking was delicate propelled a month back. Outsiders are not permitted to purchase landed homes in terrain Singapore and should first look for endorsement from the Singapore Land Authority’s (SLA) Land Dealings Unit.

In the interim, in a first among landed lodging improvements in Singapore, CapitaLand is introducing shrewd home components that will permit property holders to remotely control the lighting, aerating and cooling and a security framework by means of their portable applications.

There will likewise be rooms on the storm cellar level, which can house elderly occupants. To further backing multi-generational living, private lifts which can hold up to five individuals every will be introduced in each home, interfacing the different floors. In Singapore, introducing lifts in landed homes can cost anyplace amongst $80,000 and $100,000. CapitaLand is putting forth one year of free support for the lifts. Be that as it may, proprietors will in this manner need to fork out their own particular money for support, which will cost about $2,000 to $3,000 a year.

Also, there will be protected auto patios associated with the storm cellars, which can suit no less than two autos each. Barring the auto park zone, costs for liveable space inside the task will normal between $1,200 psf and $1,400 psf.

New commercial property at Robinson Road – Crown at Robinson

The advancement is near the Botanic Gardens, and in addition restaurants and shops at Coronation Shopping Plaza and Holland Village. Set up schools in the zone incorporate Nanyang Primary School, Hwa Chong Institution and National Junior College, and CapitaLand trusts the site’s vicinity to these establishments will draw in purchasers with school-going youngsters.

CapitaLand had beforehand uncovered that Victoria Park Villas would be dispatch prepared around Q2 2014, however moved back the dispatch date because of less positive economic situations at the time.

Remarking on the present condition of the business sector, Wen said it remains “for the most part entirely quieted, despite the fact that there have been a few indications of change as of late”. In spite of this, the “general business sector notion could have been more hearty”, he included.

This isn’t the initially landed lodging improvement attempted by CapitaLand, which likewise created Holland Green off Bukit Timah Road. Finished in 1998, the 99-year leasehold venture involves 53 extravagance cabins.

Wen noticed that landed properties represent five percent of Singapore’s lodging stock. In that capacity, their shortage offers a superior resale esteem, from a speculation perspective.

Victoria Park Villas is relied upon to be finished in 2018.

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Joint tender for HSR project – LTA

The KL-Singapore HSR is set to open in 2026.

Singapore’s Land Transport Authority (LTA) and Malaysia’s MyHSR will require a joint delicate today (22 August) to select a Joint Development Partner (JDP) to help with the advancement of the Kuala Lumpur-Singapore High Speed Rail (HSR) venture.

In a joint articulation issued on Friday, LTA and MyHSR said the JDP is required to give venture administration bolster, specialized exhortation and acquisition guidance identifying with the HSR frameworks and operations. The growth of Jurong Lake District with Lake Grande by MCL Land.

“It will likewise build up the specialized and security norms to be received for the task,” said the discharge.

Besides, the JDP will likewise help the joint venture group set up amongst Singapore and Malaysia to get ready records for prospective tenders. The delicate is interested in organizations who have prompted on huge open and private association foundation ventures, including HSR tasks of comparative size and many-sided quality.

It is additionally open to organizations with involvement in giving undertaking administration, and in addition specialized, business or lawful counseling administrations identifying with HSR and other rail ventures including more than 200km of track.

Spreading over 350km, the HSR venture is required to cut travel time between the two urban communities to only a hour and a half. The HSR line will have eight stops altogether — Kuala Lumpur, Putrajaya, Seremban, Ayer Keroh, Muar, Batu Pahat, Iskandar Puteri and Singapore.

Development works for the undertaking are to last from 2018 to 2025, with the HSR line anticipated that would be in operation in 2026.

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Land heads sparkle at corporate division’s Oscars

Land industry boss secured a portion of the top honors at the current year’s Singapore Corporate Awards, considered the Oscars of the neighborhood corporate area. New property launch at Lakeside MRT – Lake Grande by MCL Land

Frasers Centrepoint’s Lim Ee Seng won the Best CEO honor for substantial tops, while William Liem of Tuan Sing Holdings and Kong Chee Min of Centurion Corporation won in the mid-top and little top classifications, separately, reported The Straits Times.

The expansive top class incorporates recorded organizations with business sector capitalisation of $1 billion or more; $300 million to under $1 billion for the mid-top classification; and under $300 million for the little top class.

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Then, City Developments Limited (CDL) got a Special Recognition Award for being a good example in spearheading maintainability hones inside the building business. The recompense class was propelled for the current year to perceive extraordinary and praiseworthy behavior in corporate administration.

“The acknowledgment of CDL as a champion for maintainability for this first recompense is convenient, given speculators’ requirement for better perceivability on non-monetary data of recorded organizations and their part in manageability hones,” said Willie Cheng, Chairman of the Singapore Institute of Directors (SID) and co-executive of the grants.

“CDL initially set out on its voyage to realign its business and operations with natural manageability in 1995, under the visionary authority of our late Deputy Chairman Mr Kwek Leng Joo,” CDL’s Deputy CEO Sherman Kwek uncovered.

Held at Resorts World Convention Center, the yearly occasion perceives recorded organizations and people who have raised nearby corporate divulgence measures and corporate administration.

“The recompenses give a multi-dimensional perspective of what constitutes a viable board: straightforwardness, responsibility, execution, great procedures and best practices,” said Torsten Linke, Head of Private Banking Southeast Asia and Singapore Branch Manager of Bank Julius Baer, the patron of the honors.

By and large, nine organizations were perceived for the high caliber of corporate administration in their board hones, 14 organizations were regarded for the exclusive expectations of exposure in their monetary reporting, 13 organizations were praised for fabulousness in their financial specialist relations, while one organization got an uncommon grant for commendable corporate administration.

Co-composed by the SID, ISCA and The Business Times, the recompenses were upheld by the Singapore Exchange and the Accounting and Corporate Regulatory Authority.

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Affordable luxury at Pasir Ris – Coco Palms.

Venture inside these townhouses that offer rich insides and quality finishings, and are near great luxuries, all at sensible costs.

Singaporeans strive to bear the cost of the things they covet, yet they additionally require their cash to buckle down for them. Fortunately to aspire mortgage holders, there has never been a superior time than now to claim a lavish home at an incredible cost.

City Developments Limited (CDL), the built up engineer behind some of Singapore’s most notable points of interest, has propelled three townhouses that offer unparalleled worth for cash.

Coco Palms and Jewel @ Buangkok offer extravagance at alluring costs, while The Venue Residences and Shoppes gives a premium ordeal that is significantly better than the rest.

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Coco Palms – coco-palm.sg

Being spoiled at a tropical island resort is an ordinary involvement with Coco Palms. The advancement is motivated by a portion of the world’s ideal and most selective resorts, and contains six retail shops on the ground floor. Arranged in Pasir Ris Grove, it is only a five-minute stroll from Pasir Ris MRT station.

Sun-sweethearts will love the flawless arranging highlighting five pools (each with its own particular subject) and the three-story clubhouse.

The empowering Grand Lagoon flickers toward the evening sun and infers joyful tropical shoreline excursions. It shapes the centerpiece of the apartment suite’s grounds, and chose units appreciate serene perspectives of the perfectly clear waters. A Cascading Waterlace, Lagoon Jets, Sunken Lounges and the shoreline enlivened Palm Island are only a portion of the components of the sublime pool.

In the Zen-like Onsen Garden, occupants can drench their considerations away in the Salt Water Pool and Onsen-style Hot Bath, before accomplishing internal piece on the Meditation Deck or getting a charge out of a mix at the Tea Pavilion.

An unwinding Hydrotherapy Pool anticipates in the Hydro Garden, where inhabitants can appreciate hydro foot and neck kneads.

Lively occupants will welcome the 50m Lap Pool and Aqua Gym in the Fitness Garden, which is additionally outfitted with tennis courts, wellness and play stations and a running track.

The Sun Play Garden, which guarantees to be a hit with families and children, highlights a Play Pool for the minimal ones to sprinkle around in.

The advancement’s unrivaled vicinity to Pasir MRT station interfaces you to the city on the East-West Line. The future Cross Island line will likewise give network from Changi to Jurong. Luxuries like Downtown East, IKEA, Giant and Courts are a short head out, as are Changi Business Park, Singapore EXPO and Changi International Airport. The White Sands shopping center is found only a five-minute leave.

While units have seen lively deals, there is still a decision of three-, four-and five-room units accessible, and in addition double penthouse units with five or more rooms. Three-room units are valued from $960,660.

Affectionately outlined insides are outfitted with a suite of premium machines, including a kitchen hood, hob and stove by Teka and kitchen sink by Franke. Every kitchen is outfitted with an implicit Hyflux Ultrafiltration System, which apportions cleaned drinking water through a Hyflux tap.

The normal date of excursion ownership for Coco Palms is June 2019.

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Tycoon buys Orchard apartment for $21m

Indonesian head honcho Trihatma Kusuma Haliman is accepted to have purchased a seventh floor unit at the Le Nouvel Ardmore apartment suite close Orchard Road for $21 million, reported The Business Times.

This means $4,006 psf taking into account the 5,242 sq ft strata zone, which incorporates a strata void region of 280 sq ft.

Trihatma controls Indonesian property bunch Agung Podomoro Land, which has as of late been under the spotlight in Indonesia.
See Orchard new launch – Sophia Hills

This comes as the previous Vice President Director of the recorded organization, Ariesman Widjaja, was held in authority by the Corruption Eradication Commission (KPK), Indonesia’s hostile to unite office, pending examinations on a claimed gift case including an area recovery extend north of Jakarta, said media reports.

Agung Podomoro Land is one of the real speculators of the proposed Pluit City recovery venture.

goodwood grand

In the interim, the flat obtained by Trihatma will be the 6th unit sold by Wing Tai inside the freehold venture.

In 2015, Sun Tongyu, one of Alibaba Group’s organizers, purchased a penthouse situated on the main two levels of the 33-story venture for a record $51 million ($3,676 psf).

Planned by 2008 Pritzker Architecture Prize champ Jean Nouvel, the 43-unit condominium got its TOP in April 2014.

Wing Tai sold the primary unit at the task for $4,362 psf in 2011 to Edgar Cheng Wai Kin, the eldest sibling of Group Chairman Cheng Wai Keung. In 2013, it sold two a bigger number of units at more than $4,300 psf. See Goodwood Grand at Balmoral Road

This was trailed by Sun’s securing of the penthouse in April 2015, after which a fifth floor unit was sold for $15.84 million in July.

The engineer would have begun paying augmentation charges for the venture, as it neglected to meet the two-year due date from the TOP date to offer all units inside the task under the Qualifying Certificate (QC) rules, which is gone for keeping outside property designers from storing or hypothesizing in private area here.

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Shunfu Ville has stirred the enthusiasm on developers

The $638 million aggregate offer of Shunfu Ville has stirred the enthusiasm of engineers searching for potential redevelopment locales, and additionally mortgage holders planning to arrange their more seasoned properties, reported The Straits Times.

Found near the Marymount MRT station, the 358-unit privatized HUDC home changed hands in May, with every proprietor taking around $1.78 million, or a 50 percent premium over an ordinary unit’s cost. It is additionally the main en alliance exchange in right around a year, and the most costly since 2007.

“There is enthusiasm from designers, which is the reason we are venturing up our quest for appropriate tasks,” said Karamjit Singh, International Director at JLL.

Not long after the Shunfu Ville deal, property consultancies started accepting request from advancements that could be conceivably sold en coalition, while different bequests have begun the procedure.

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For instance, a few inhabitants at The Capri apartment suite are trying things out for an en alliance bargain by welcoming gatherings to submit costs. In the interim, a privatized HUDC bequest in Potong Pasir Avenue 1 is social occasion marks from the proprietors. Purportedly, around 60 percent have assented to the deal, yet this is still shy of the 80 percent least endorsement required.

Advancements that have effectively endeavored this move twice however fizzled on both events are likewise attempting their fortunes once more. These incorporate the 84-unit Changi Garden, and additionally the privatized HUDC bequests of Eunosville and Tampines Court.

Truth be told, the en alliance deal advisory group of the blended use Changi Garden venture off Upper Changi North Road selected attorneys and a promoting operator in May for its most recent aggregate deals exercise.

In the interim, inhabitants at the 330-unit Eunosville are comprehended to restart the en coalition process, while those at the 560-unit Tampines Court are reviewing a business understanding.

As indicated by Lee Liat Yeang, Senior Partner in Dentons Rodyk and Davidson, “proprietors of privatized HUDC improvements are under weight as their domains become more established and the obligation of redesigning lays on their shoulders now. See the new Executive Condominimum – Sol Acres

“Over the long haul, the benefit of garnish up the lease (of site) will go up and, correspondingly, the measure of cash that goes to proprietors in an en alliance deal will descend.”

In addition, this is a fortunate time for aggregate deals, as the powers have decreased down the Government Land Sales (GLS) Program, noted Alice Tan, Knight Frank’s Research Head for Singapore.

Notwithstanding, bidders are relied upon to offer more practical costs in light of the business due dates under the Qualifying Certificate and Additional Buyer’s Stamp Duty (ABSD) rules, included Shaun Poh, Executive Director, Capital Markets at Cushman and Wakefield. Even so, Sturdee Residences just launched in earlier this year.

“Designers are low on their territory stocks so a significant number will be quick to restock. Be that as it may, they are likewise extremely aware of whatever business accumulation they may have.”

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