The market remains buoyant

Straits Times: 3 sites up for collective sale

Three freehold sites - two residential and one commercial - have been put up for collective sale, a further sign that the market remains buoyant.
 
The residential plots are the MacPherson Green condominium near Tai Seng MRT station and Holland Tower in Holland Heights.
 
The owners of MacPherson Green want up to $115 million for the 66,928 sq ft plot. Two strips of land nearby are also being offered as part of the sale.
 
The site consists of a 13-storey tower block of 48 apartments and nine townhouses. At that price, each owner can expect around $1.56 million for a 1,216 sq ft two-bedroom unit or $2.76 million for a 2,325 sq ft townhouse.
 
The other residential plot, Holland Tower, which sits on 21,879 sq ft of land, is a 14-storey tower with 19 apartments and is sited near the upcoming Holland Village MRT station.
 
No development charge is payable.
 
Marketing agent Jones Lang LaSalle declined to give an indicative price but recent developments in the area have sold for between $1,363 and $1,388 per sq ft per plot ratio.
 
Tenders for the two sites close on Feb 23.
 
The North Bridge Road Commercial Complex is also up for sale, with the tender closing on March 3. The six-storey block is used for retail outlets and offices.
 
The 11,615 sq ft plot can be built to a gross floor area of about 48,784 sq ft. However, marketing agent DTZ is seeking the Urban Redevelopment Authority's approval to retain the building's current gross floor area of 66,614 sq ft for the plot's future owners.
 
The indicative price is between $110 million and $115 million.

(Source: The Straits Times)

TODAYonline | Singapore | Frivolous complaints made to CEA

TODAYonline | Singapore | Frivolous complaints made to CEA

BULLETIN: China's economy grows 10.3% in 2010, above 10.2% forecast; Dec. consumer inflation +4.6%.

For more information, go to MarketWatch www.marketwatch.com

Latest round of cooling measures

Here are the latest round of Government property market cooling measures.

1. Sellers SSD increased from 3 to 4 years on sliding scale at 16% of selling price 12%, 8%, and 4%.

2. LTV lowered from 70 to 60% for 2nd and subsequent loans

3. 50% LTV for non individual buyers (exclude developers buying en bloc for redevelopment), e.g. corporations, trusts and collective investment schemes.

Full information can be found at: http://www.mas.gov.sg/news_room/press_releases/2011/Measures_To_Maintain_A_Stable_And_Sustainable_Property_Market.html

Pricier new launches ahead

Business Times: More developers see higher prices for new home launches
By EMILYN YAP

Developers' outlook for the property sector turned rosier in the fourth quarter last year, with a larger proportion of them predicting higher prices for new residential launches.

Preliminary findings from the Real Estate Sentiment Index (RESI) point to improved sentiment from the third quarter, when the industry was still coming to terms with the impact of property market cooling measures introduced on Aug 30.

Based on survey responses so far, the Current Sentiment Index stood at 5.6 in Q4, up from 4.8 in Q3. For this category, respondents rate overall Singapore real estate market conditions now compared with six months ago.

The Future Sentiment Index - where respondents rate overall property market conditions over the next six months - rose to 5.7 in Q4 from 4.8 in Q3.

While the index readings rose in Q4, they did not surpass the levels seen in Q1 and Q2.

Developers were also asked for their take on the primary residential market, and a majority of the respondents thought more launches and moderate price increases were possible.

In Q4, 60 per cent of respondents believed that unit prices would be moderately higher. In Q3, just 12 per cent thought so.
Spottiswoode Residences, Waterview and Robinson Suites were some which reported strong sales.

Some industry watchers also reckoned that the sector's confidence grew as the impact of the tightening measures became clearer.

A Hong Leong spokesman told BT: 'While we took a cautious outlook immediately following the August 2010 cooling measures, buyer demand continued to remain strong for the group's various projects.' Low interest rates and liquidity in the market contributed to the demand, he said.

In the ongoing Q4 RESI survey, 69 per cent of respondents identified demand-side measures from the government as a potential risk to market sentiment.

Although this proportion is less than Q3's 83 per cent, it is still big enough to make state intervention the second most feared risk.

A possible slowdown in the global economy was the industry's top worry - 70 per cent of respondents said in Q4 that this was a potential risk. This is markedly higher than the 56 per cent a quarter ago.

(This is only an excerpt, for the full article please subscribe at http://businesstimes.com.sg)

Top Schools = Top Students?

Recently I've seen an increasing emphasis on 'schools within 1km' criteria as being a deciding factor when it comes to purchasing a home. There is no denying that being in a good school brings about immeasurable benefits. Property investors may do well to sit up and take note of this factor when considering your next investment.

Top Scorers for 2010 PSLE and their schools

*Note: Terrene at Bukit Timah is near to Pei Hwa Presbyterian and Keming Primary School!

Market Talk: CapitaLand

Below is an excerpt from
Straits Times: No shoebox flats for CapitaLand
By Cheryl Lim published on MON, JAN 10, 2011.

"At CapitaLand Residential Singapore, chief executive Wong Heang Fine noted that changing market dynamics would inevitably lead to smaller homes, but he stressed that the firm would not build flats under 500 sq ft. He said its focus for the year ahead would be on replenishing its land bank.

It has 2,500 launch-ready homes that have yet to be released for sale. It will launch 1,700 units this year, with the majority entering the market over the next three months.

At d'Leedon, more units will be released this year - 750 - with the first batch being rolled out this week. The remaining 390 units at The Interlace will be released soon after, followed by 55 luxury homes at The Nassim. Some of the 500 units set aside for the new development at the Bedok Town Centre site will also be launched this year, during the second or third quarter.

In addition, the 64 homes from the Urban Resort project at Cairnhill Road will come on stream this year. Units at both Urban Resort and The Nassim will be sold through private appointments.

Mr Liew indicated that CapitaLand had its eye on several collective-sale sites. He said it was also keen on residential sites - on both the confirmed and reserved lists - offered as part of the first half of this year's Government Land Sales programme.

Sites at the city fringe or near MRT stations would be high on CapitaLand's wish list.

Still, Mr Wong and Mr Liew agreed that even though CapitaLand's balance sheet was healthy enough to allow it to bid for all the sites it was interested in, it would do so with 'disciplined aggression'.

CapitaLand predicts that home prices are likely to increase by 5 to 10 per cent this year, with those in the high-end segment rising by 10 to 15 per cent.

Its optimism with regard to this segment has spurred it to market projects such as The Interlace in China and India.

It does not believe government measures will be introduced to curb foreign interest in the high-end market.

'Singapore is a very open economy. If we start to have such restrictions, it would destroy the image we have of being an open economy,' said Mr Liew."