Construction Update on 22 April 2012

Taken from the junction of Jalan Jurong Kechil and Toh Tuck Road - Exterior walls of Stack 02 and 03 painted

Taken from Toh Tuck Road - Stacks 07, 08, 11 and 12 awaiting installation of windows

Taken from Toh Tuck Drive - Stacks 13 (foreground), 28, 25, 35 and 29 (background)

Floridian - Just TOP!

Construction update November 2011

View from Jalan Jurong Kechil (photo taken in November 2011)

Block 111 and 119 (photo taken in November 2011)

Stack 02 and 03 (photo taken in November 2011)

Block 111 and 113 (photo taken in August 2011)

Taken from the vehicular exit at Toh Tuck Road (photo taken in August 2011)

Block 113 and 115 taken in August 2011

Unlikely to have Significant Drop in Property Prices

Channel News Asia: Significant drop in property prices unlikely: analysts

Jan 27

SINGAPORE : The recent government cooling measures in Singapore's property market will bring down sales volume, but not to the extent of causing a significant fall in prices.

According to a report by DTZ Research, sales volume is expected to fall as short-term speculators will be weeded out by the hefty seller's stamp duty of up to 16 per cent within the first year of purchase.

However, the property consultancy said not all investors will withdraw from the market.

Some may find the 4 per cent stamp duty by the fourth year of sale to be surmountable and shift their focus to buying uncompleted units with completion dates three to four years later.

DTZ's Executive Director for Residential, Margaret Thean said landed homes, small apartments and high-end apartments will be less affected by the measures. That's because small units with their low price quantum will continue to attract investors with spare cash or singles wanting their own units.

Thean added that the 4-year seller's stamp duty will have little impact on landed homes as most purchase them for long-term owner-occupation.

Meanwhile, high-end apartments will likely continue to see foreign interest.

DTZ added that prices in 2011 are expected to be largely stable with a decline of not more than 5 per cent.

This is underpinned by economic growth, low interest rates, strong holding power of developers, the appreciation of the Singapore dollar and inflow of foreign purchasers due to the property market clampdown in mainland China and Hong Kong.

The property consultancy does not rule out the possibility of more government measures should demand remain at a high level after a period of cooling-off.

The report also noted other challenges in the form of a spike in the number of completed units in a few years' time as the government is putting out a record high amount of units through the public housing and government land sales programmes.

There is also uncertainty over the strength of recovery of the major western economies.

If they recover well, interest rates will move up and reduce the affordability of mortgage payments.

On the other hand, if they continue to languish, this will have an effect on the Singapore economy and optimism in the property market eventually.

With the residential market facing numerous challenges, DTZ said investors are likely to take the extra effort to identify opportunities in other property sectors and alternative investment products.

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%.

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