Singapore Property Weekly Issue 76

Issue 76 Copyright © 2011-2012 www.Propwise.sg. All Rights Reserved.

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CONTENTS p2 Have Industrial Property PricesSpiraled Out of Control?

p6 4 Ways to Buy Property with “No Money Down”

p11 Does a 60 Years Leasehold

Condominiums Make Sense?

p15 Singapore Property News This Week

p23 Resale Property Transactions

(October 17 – October 23)

Welcome to the 76th edition of the Singapore Property Weekly. Hope you like it! Mr. Propwise

FROM THE

EDITOR

mailto:[email protected]

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SINGAPORE PROPERTY WEEKLY Issue 76

Page | 2 Back to Contents

By Mr. Propwise

While everyone (including the government)

has focused their attention on the residential

market, one segment that has gone through

the roof is industrial property. In 3Q2012 the

Industrial Property Price Index registered a

stunning 8.8% quarter-on-quarter growth to

hit 183.3, an all-time high. This was the

twelfth quarter of growth, and unlike the

residential property segment, the rate of

growth is accelerating. This begets the

question – have industrial property prices

spiraled out of control?

Have Industrial Property Prices Spiraled Out of Control?



Comparing industrial property prices with

other segments

Figure 5.2.1a – PPIs of various property

segments

From Figure 5.2.1a (courtesy of

PropertyMarketInsights.com, an essential

resource for property investors), we can see

that since 2010, the once boring industrial

PPI has risen at a much faster pace than the

other property types, and has massively

outperformed Office and Shop properties.

Since 2009Q3, the Industrial PPI has grown

by an astonishing 102.8%, versus just 34.9%

for the residential PPI.

And as the Rental Index for Industrial

Property has only increased 39.3% over the

http://propertymarketinsights.com/





same period, this suggests that: i. Yields for

industrial property are compressing and ii.

There’s likely some element of speculation in

the industrial property market, i.e. the rise in

industrial property prices were not mainly

driven by strong end-user demand.

Is industrial property now too expensive

for industrialists?

Figure 5.5.2a – Median price of factory and

warehouse ($ PSF)

From a median price perspective, in 2012Q3

factory and warehouse space sold for $606

and $768 psf respectively (Figure 5.5.2a).

This was more than double what it cost just

five to six years ago.

Figure 5.5.2c – Median rental of factory

and warehouse



Rentals have gone up as well, although not

as much as prices. As of 2012Q3, the median

rental of Factory and Warehouse space was

fairly similar at $2.02 and $1.91 psf

respectively (Figure 5.5.2c). Versus six years

ago, this is an increase of around 60 percent.

Has the profitability of our industrial

companies and SMEs increased this much?

More measures to control industrial

property prices on the way?

Given the relative stabilization of the

residential property segment post six rounds

of control measures since 2009, and the

skyrocketing prices of industrial property, will

this segment become the next target of

government measures?

We’ve previously written several articles

about the industrial property market,

including an explanation of the URA

guidelines and a discussion on shoebox

factories. Suffice to say that the continuing

surge in industrial property prices has

increased the policy risk for this sector.

Measures to keep the minimum size of

industrial units at 150 square meters and

crackdowns on illegal usage of the space by

non-industrial users could be just the

beginning. Investors in shoebox industrial

units will have to seriously ask themselves

who the likely tenant for the property they

have bought will be. Caveat emptor!

http://www.propwise.sg/the-impact-of-the-6th-round-of-property-cooling-measures/













http://www.propwise.sg/understanding-uras-land-use-planning-and-development-types/











http://www.propwise.sg/should-shoe-box-factories-be-allowed/









4 Ways to Buy Property with “No Money Down”

By guest contributor Gerald Tay

Some “property experts” claim that anyone,

including ordinary investors, can own

properties easily either with “No Money

Down” or “Little Money Down”, and make

people pay ridiculous amounts of fees in

property seminars just to learn from them.

In this article, I am going to share some of

these strategies with you for FREE! But

beware – even though some of these

strategies may be applicable to an educated

investor, they do come with many risks

ordinary investors may not fully comprehend.



Between early 2000 and 2005 in Singapore,

to help support the local property market, the

Loan-To-Value (LTV) was raised from 80% to

90%. The minimum cash requirement was

also reduced from 10% to just 5%. In other

words, anyone who bought properties during

this low period would qualify as buying

property with very little money down.

However, government policies always change

according to market conditions, and today, if

one were to have an outstanding mortgage

on an existing property, the Loan-To-Value is

now just 60% for the second or greater loan,

requiring a hefty 40% down payment. A $1

million property would require you to cough

out $400,000.

That’s one of the many reasons why, today,

one would see many advertisements touting

how anyone can buy properties with no

money or little money down, just to lure

investors to invest on assumptions of a low

interest rate environment.

So what are some of these “No Money Down”

or “Little Money Down” deals and strategies?

And are they even applicable for the ordinary

investor?

1. Borrow money to pay the down-

payment

This first strategy would be for an investor to

borrow the down-payment from friends,

relatives, bank overdrafts, credit lines and

even insurance policies with substantial cash

value. One can even borrow from an existing

private property which has appreciated

significantly in value to obtain the cash for the

second property’s down-payment.

The risk is that unless the investor can

ascertain for sure that the property invested is

indeed a great property with very good cash

flow to repay the debt leverage,



the investor could get into serious debt

obligations.

2. Co-Invest with other investors

The second strategy involves an investor

partnering others to buy a property together.

If a property cost $1 million and the required

LTV IS 80%, the down-payment excluding

other upfront costs is $200,000. If there are

four investors in a group, each investor need

only come up $50,000.

The risk is that unless one can find a group of

friends or associates who share very similar

investment objectives and have proper legal

documentation drafted, most often than not,

many of these deals end up badly. For

example, one of your co-investors may need

to exit earlier than expected due to an urgent

need for money, or even death of a partner.

Or worse, all partners face equal legal

obligations should one partner go bankrupt or

choose to default on the loan payments.

3. Co-Invest with other investors using

Central Provident Fund (CPF)

The third strategy is similar to the second

strategy above – the difference is in the use

of one’s CPF funds. Assuming that one

investor does not qualify for a bank loan but

has cash to support the down-payment and

mortgage payments, and another investor is

able to get a bank loan, but does not have

sufficient cash to invest, then they may come

together as partners. So the investor who

does not have sufficient cash to invest can

tap on the investor with cash, which becomes

little or no money down for him in this case.

The risks are similar to the second strategy

using cash.



4. Buy overseas property with no money

or little money down

There are many overseas properties that can

be bought for as low as $5,000 or even with

no money down through special

arrangements with the seller in that country.

In the USA for example, there are many

cheap properties one can buy and some can

even be bought with no money down through

a scheme called “Seller Financing”. It enables

the buyer to own a property by having the

seller pay for the down-payment.

Buying a cheap overseas property has

inherent risks and may not be suitable for

most ordinary investors. Even experienced

local investors are extremely wary of such

properties – what can a foreign investor who

is unfamiliar with the foreign territory expect?

Such shady properties are often located in

bad crime-ridden areas, with low income

tenants who cannot afford to pay rent. Or

they come with hidden maintenance issues

which can eat into an investor’s returns.

There are crafty sellers who offload such

properties to ignorant buyers and conceal

many of the inherent risks of buying such

properties.

Even if it’s 100% financed, a bad property

is a bad property!

Quality properties in good locations rarely, if

ever, have motivated sellers. Unfortunately,

the “gurus” have made buying no money

down more important than buying quality

properties. How you finance the property isn’t

as important as buying a property that will be

a sound, long term investment. In other

words, buy only quality properties with

investment value.



Even if it’s 100% financed, a bad property is a

bad property!

As Warren Buffet puts it wisely, “It’s far better

to buy a wonderful company at a fair price

than a fair company at a wonderful price.”

And this applies to property investment as

well. A smart investor will invest in enough

education before entering into any

investments. The return of your investments

is dictated by the amount of education you

have. Rather than aiming to buy properties

with no or little money own, first focus on

educating yourself thoroughly. The rest will

follow.

By guest contributor Gerald Tay, CEO and

Chief Trainer at CREi Academy Group.

http://www.crei-academy.com/








By guest contributor AK

When I was told that residential properties in

Hong Kong generally come with a 50 years

lease, I was amazed. Imagine that someone

in his thirties bought a condo in Hong Kong

and he lived to be 90 years old. This

effectively means that he could be kicked out

of the property, as there is no guarantee that

the lease would be extended!

To someone from Hong Kong, a 99 years

leasehold property in Singapore is probably a

steal! The lease is twice as long, and the

prices are probably lower too, like for like.

However, things could change for the next

generation. Shorter land leases are

beginning to become more popular in

Singapore.

Does a 60 Years Leasehold Condominiums Make Sense?



60 years leasehold condo in Singapore

A 1.02 hectare residential site in Jurong

Kechil comes with an unusual 60 years

leasehold term. This is believed to be the first

time a private housing site is being sold on

such short tenure under the Government

Land Sales (GLS).

Developers have options for a 30, 45 or 60-

year lease period for the plot, the Urban

Redevelopment Authority (URA) said. The

development conditions for the site cap the

maximum number of units at 203 units and

can be built up to part five storeys and part

eight storeys.

Industry experts are expecting a top bid of

between $200 to $250 per square foot (psf)

per plot ratio (ppr) and a sale price of $550 to

$600 psf. In comparison, freehold

developments in the area go for about $1,000

psf.

The government has mentioned that it would

explore offering residential sites with shorter

leases to bring down the cost of home

ownership in Singapore.

Do shorter lease terms make sense?

Maybe I am out of touch with the reality on

the ground. Foreigners, new citizens, and

younger Singaporeans are probably less

concerned with shorter land leases. They

might just want a home to live in for the short-

term, or to reap as much rental returns as

possible. A project that is freehold or 999

years leasehold and selling at a premium

might only be attractive to older

Singaporeans.

Now, if I were in my forties, I might consider

buying a new private residential property with

a 60 years lease if I could save 40% to 50%



compared to buying a similar freehold or

longer-lease property. This would only be for

my personal residence, as the property could

be hard to resell as its lease gets

progressively shorter. I just have to pray that I

do not live to be a hundred.

However, would someone in his twenties or

thirties buy a new private residential property

that comes with a 60 years lease? By the

time the project gets its Temporary

Occupation Permit (TOP), the property would

only have 55 years left to the lease...

By guest contributor AK, an experienced

investor who blogs at A Singaporean Stock

Market Investor.

http://singaporeanstocksinvestor.blogspot.com/











http://www.erc.com.sg/eblastimages/pptylanding/pptylanding.html


Singapore Property This Week


Residential

Chinese nationals making less private

homes purchases

The number of homes purchased by Chinese

nationals from January to September this

year has fallen by 48% from 2,046 units in the

same period last year to 1,066 units, falling

from their spot as the top foreign buyers.

They have also shifted their interest in homes

located in prime and mid-range Districts 9,

10, 11 and 14, 15, 16 to mass-market

Districts 18, 19 and 23 in 2012, especially to

new launches near MRT stations and

amenities. This could be a result of the

aggressive marketing of suburban project

launches in China as well as the imposition of

the ABSD on Chinese buyers which will

increase the costs. Furthermore, the abolition

of the Financial Investor Scheme, stricter

immigration rules and a slowdown in China’s

economy also resulted in a fall in demand.

Meanwhile, Malaysians, currently the top

foreign buyers, bought a total of 1,394 units

(mainly in Districts 19 and 18), a 7.5% fall

from 2011. The interest in Singapore

properties is likely due to its proximity and

cultural similarity to Singapore as well as the

perception that Singapore is safe for long-

term investment. Purchases by Indonesians,

who remained the third largest foreign buyers,

saw a 25% decrease year-to-date to 942

units.



The preference for District 9 remains, making

them the largest foreign buyers to purchase

homes in District 9, though there had been an

increase in interest for District 19 as a result

of new launches in Punggol. Likewise, the

Indians retained their spot as the fourth

largest foreign buyers with the 685 units

purchased, despite the 22% fall from the units

purchased in the whole of 2011. The US

citizens, have replaced the UK citizens as the

fifth largest foreign buyers with the 122 units

purchases, a 15% increase from the 106

bought in the same period last year. This is

likely because they are not subject to the

ABSD as a result of the FTAs signed with

their country, along with citizens of

Switzerland, Liechtenstein, Norway and

Iceland.

Malaysians, Chinese citizens, Indonesians,

Indians and US citizens are the top five

largest foreign buyers with each taking up

25.3%, 21.7%, 17.8%, 15.2% and 2.7% of the

1,610 units sold in Q3 respectively.

(Source: Business Times)

Sentosa bungalow sets new record psf

price of $3,214

A 99-year leasehold bungalow on Ocean

Drive, Sentosa Cove is said to have been

sold for $32.5 million or $3,214 psf based on

its 10,111 sq ft land area, breaking the

previous record of $2,989 psf. There had

been a sudden increase in activity in

Singapore's upscale waterfront housing

district, accompanied by an increase in

prices. However, this is not reflected in the

caveats lodged, suggesting buyers have yet

to exercise their options.




HDB resale prices climbed 2% in Q3

The HDB Resale Price Index (RPI) increased

by 2% from Q2 to 197.9 in Q3, bringing the

year-to-date increase to 3.9%. This increase

is attributed to the relative lack of supply to

meet demand. This also meant a 15-20%

increase in median COV from Q2 to $30,000

in Q3. However, there was a 6% fallin resale

transaction volume to 6,560 units. This could

be due to record high prices of private

properties leading to less incentive for HDB

owners to sell and upgrade, or an increased

demand from buyers unwilling or unable to

wait for BTOs, second-time buyers as well as

buyers ineligible for BTOs. While prices are

expected to continue rising, to about 5-7% by

end-2012, it should be at a fairly moderate

pace especially with the record 27,000 BTO

units launched this year. However, with the

cap on home loan tenures, prices may fall

instead as homeowners decide not to move,

resulting in lower supply.


Heron Bay penthouse breaks EC record

price at $1.774m

The $1.774 million set for a 2,845 sq ft five-

bedroom penthouse unit in Heron Bay broke

the previous record of $1.61 million set last

week by a 2,716-sq-ft double-storey

penthouse at 1 Canberra in Yishun. The

record prices are likely due to rising income,

liquidity and the low interest rates, as well as

an increased demand for larger and more

luxurious penthouses from young and affluent

buyers and HDB upgraders who had

benefitted from the increased HDB resale

prices. However, these prices are not

indicative of the overall EC pricing since such

transactions are rare given the size of the

units.




Olive Road and Faber Drive bungalows

sold for $26.1m and $10.38m respectively

The first bungalow is a GCB at 27 Olive Road

at Caldecott Hill Estate which was sold for

$26.1 million or $1,114 psf based on its

23,423 sq ft land area. The buyers intend to

redevelop it into a luxurious new bungalow.

The second is located at an elevated site of

11,719 sq ft at Faber Drive which was sold for

$10.38 million or $886 psf. It may be

developed into two smaller detached houses.

Despite the potential economic slowdown, it

appeared that well-located GCBs are still in

demand.


GCB market not affected by latest cooling

measure

Five caveats totalling $122 million for the

GCB market has been lodged in October, with

possibly more to be lodged for recently

signed deals, despite the recent cooling

measures in the property market. These

included a 15,450-sq-ft vacant freehold hilltop

site at Swettenham Road which was sold for

$21.98 million or $1,423 psf and a 15,094-sq-

ft vacant plot at Jervois Hill for $25.8 million

or $1,709 psf. Others include a six-bedroom

Leedon Park bungalow with a pool sold for

$33 million or $2,110 psf on its 15,640-sq-ft

land area, a two-storey Olive Road bungalow

sold for $26.1 million or $1,114 psf and a

property at Kingsmead Road for $15.1 million

or $1,776 psf on its 8,504-sq-ft land area.

While some believe that these deals began

before the introduction of the cooling

measures and that there had been a

slowdown in activity, others did not see any

signs of a slowdown. Nevertheless, demand

is expected to continue and drive an increase

in transaction volumes.



A total of 16 GCBs totalling $332 million have

been sold in Q3, compared to 18 transactions

at $359 million in Q2, bringing the year-to-

date total to 48 transactions at $1.04 billion.

Meanwhile, a 24,207-sq-ft freehold plot

located in the Holland Rise GCB Area is up

for sale via an expression-of-interest

exercise. The property located 500 metres

from Holland Village MRT Station and

amenities in Holland V is asking for $1,300-

$1,500 psf. The exercise will close on Nov 22.


Commercial

Industrial property price rose 8.8% in Q3

According to the URA, the industrial property

price index climbed by 8.8% from Q2 to 183.3

in Q3, resulting in a 26.7% year-to-date

increase, just slightly below the 27.2%

increase registered for the whole of 2011.

This is likely due to the spillover demand from

the residential market, as well as demand

from industrialists seeking to own their own

premises which exerted an upward pressure

on prices. The price index for multiple-user

factory space grew 10.1% in Q3, compared to

an 8.3% in Q3, driven by the demand for

strata factory units. There had also been

increase in transaction volume of these units,

with 2,591 units transacted year-to-date, 95%

of the 2,723 units transacted in the whole of

2011. The price index for multiple-user

warehouses and the rental rates have slowed

to a 2.3% and 1.2% increase respectively in

Q3, compared to the 8.6% and 2.8% growth

respectively in the previous quarter. This

resulted in a rental rate growth of 6% year-to-

date, compared to 15.5% for 2011. Prices are

likely to continue increasing, albeit at a more

moderate 5-6% in Q4 though it will exceed

the price increase registered in 2011.



Capital values of industrial property are likely

to increase by 33-37%, with the rental index

to increase by 7-10% for the whole of 2012.

Meanwhile, prices of private residential

properties rose by 0.6% in Q3, a slight

increase from the 0.4% in Q2, driven by the

1.1% increase in landed private housing in

Q3. This moderate increase reflects a much

more stable market, especially since there is

only 0.9% increase year-to-date. Prices of

non-landed private property in the Outside

Central Region saw a 1.0% increase in Q3,

while the prices for Rest of Central Region

and Core Central Region rose by 0.8% and

0.1% in Q3 respectively.


Bukit Timah Saddle Club site up for sale

The Singapore Land Authority (SLA) is

launching a 104,567.2 sq m site with a

2,202.3 sq m GFA at 51 Fairways Drive for

sale by public tender. It is currently occupied

by the Bukit Timah Saddle Club (BTSC)

which leases only five hectares at $18,000 a

month. The public tender is launched so that

other interested parties wishing to run a

saddle club can have a chance at bid for the

site. The site will remain primarily for

equestrian purposes with public riding made

available. In addition, ancillary uses, such as

restaurants and shops, cannot exceed GFA of

251 sq m. SLA is providing BTSC a six-month

lease extension until June 30, 2013 so that

disruption to BSTC’s operation can be kept

minimal if BSTC participates in the tender and

is successful. The tender will close on Nov 20

at 11am.




49,053 sq ft of freehold Delta House strata

industrial space up for sale

Two vacant strata units totalling 49,053 sq ft

of freehold strata industrial space at Delta

House in the Alexandra /Delta Road vicinity is

up for sale with an asking price of almost $54

million or $1,100 psf via an expression of

interest exercise. One unit occupies the entire

36,308 sq ft on the fourth level of the eight-

storey building while the other occupies

12,745 sq ft on the third level. The building

sits on an 88,537 sq ft plot zoned for

residential use with a 2.1 plot ratio. It could be

potentially redeveloped into a new

condominium project with 170 1,000 sq ft

units. The current property offers 82 surface

carpark lots.


Three industrial plots released for sale by

JTC – one at Woodlands and two at Tuas

The first is a 30-year leasehold site located

off Woodlands Ave 10 next to Mapletree's

Woodlands Spectrum I and II. While some

expected the top bid to be in the range of

$75-100 psf ppr as a result of the more

affordable overall cost from its smaller size,

others expect the top bid to be around $55-

$75 psf ppr because of its small size that

does not allow it to be built into a flatted

factory. It is expected to draw three to six

bids, and could probably fetch $280-$290 psf

if a new development is strata-titled and sold.

The two sites at Tuas South Street 8 are the

32,674.9 sq ft Plot 8 and the 48,727.1 sq ft

Plot 18. Both have a 1.0 GPR and a lease

term of 22 years and seven months.



Plot 8 is expected to draw four to eight bids

while Plot 18 is expected to draw 11to 18 bids

since it is larger and located at the corner.

Both are expected to achieve a top bid of

$50-$78 psf ppr.


Freehold industrial building near Sims

Drive up for sale

The freehold seven-story building near Sims

drive is up for sale by public tender. It is

asking for $33.8-36 million, or $564-601 psf

ppr. The 23,936 sq ft rectangular plot zoned

for Business 1 use has a 2.5 GPR. It is likely

to be popular given the demand for light

industrial space, and it is reasonably priced

considering its excellent condition and its

proximity to Aljunied MRT station. The tender

will close on Nov 28 at 3 pm.




Non-Landed Residential Resale Property Transactions for the Week of Oct 17 – Oct 23

Postal

DistrictProject Name

Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

1 ONE SHENTON 850 1,750,000 2,058 99

1 THE SAIL @ MARINA BAY 1,076 2,152,000 1,999 99

1 ONE SHENTON 829 1,630,000 1,967 99

1 PEOPLE'S PARK COMPLEX 1,119 960,000 858 99

1 PEOPLE'S PARK COMPLEX 1,604 1,350,000 842 99

2 ICON 657 1,298,000 1,977 99

3 EMERALD PARK 947 1,168,000 1,233 99

3 THE METROPOLITAN CONDOMINIUM 3,412 3,950,000 1,158 99

4 SEASCAPE 2,852 8,178,800 2,867 99

4 TURQUOISE 2,400 5,872,000 2,446 99

4 THE AZURE 1,711 3,507,550 2,049 99

4 MARINA COLLECTION 2,185 4,370,000 2,000 99

4 MARINA COLLECTION 2,185 4,370,000 2,000 99

5 DOVER PARKVIEW 969 1,388,000 1,433 99

5 THE PARC CONDOMINIUM 1,302 1,720,000 1,321 FH

5 THE PARC CONDOMINIUM 1,410 1,833,000 1,300 FH

5 BLUE HORIZON 1,163 1,260,000 1,084 99

5 REGENT PARK 1,195 1,280,000 1,071 99

5 DOVER PARKVIEW 969 1,035,000 1,068 99

5 THE INFINITI 904 950,000 1,051 FH

5 VARSITY PARK CONDOMINIUM 1,798 1,870,000 1,040 99

5 VILLA DE WEST 1,636 1,665,448 1,018 FH

5 BAYVILLE CONDOMINIUM 1,216 1,200,000 987 FH

7 BURLINGTON SQUARE 732 1,030,000 1,407 99

7 SUNSHINE PLAZA 1,044 1,450,000 1,389 99

Postal


Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

7 BURLINGTON SQUARE 1,066 1,430,000 1,342 99

7 BURLINGTON SQUARE 883 1,180,000 1,337 99

8 KERRISDALE 990 1,128,000 1,139 99

9 HELIOS RESIDENCES 1,281 4,438,665 3,465 FH

9 HELIOS RESIDENCES 3,993 12,500,000 3,130 FH

9 RIVERGATE 1,033 2,408,000 2,330 FH

9 RIVERIA GARDENS 969 2,100,000 2,168 FH

9 RIVERGATE 1,023 2,200,000 2,151 FH

9 THE EDGE ON CAIRNHILL 2,142 4,450,000 2,077 FH

9 CAIRNHILL CREST 818 1,660,000 2,029 FH

9 TRIBECA 1,367 2,700,000 1,975 FH

9 THE INSPIRA 1,206 1,908,888 1,583 FH

9 SAM KIANG MANSIONS 1,206 1,838,000 1,525 FH

9 8 @ MOUNT SOPHIA 1,313 1,995,000 1,519 103

9 ASPEN HEIGHTS 1,324 1,986,000 1,500 999

9 ASPEN HEIGHTS 2,691 3,920,000 1,457 999

10 ST REGIS RESIDENCES SINGAPORE 3,897 8,900,000 2,284 999

10 LATITUDE 2,766 5,846,445 2,113 FH

10 THREE THREE ROBIN 1,582 3,080,000 1,947 FH

10 ZENITH 474 900,000 1,900 999

10 ZENITH 775 1,420,000 1,832 999

10 BOTANIC GARDENS MANSION 1,399 2,550,000 1,822 FH

10 SOMMERVILLE GRANDEUR 1,830 3,038,000 1,660 FH

10 THE MARBELLA 1,496 2,450,000 1,637 FH

10 ONE JERVOIS 1,701 2,700,000 1,588 FH



Postal


Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

10 VALLEY PARK 1,109 1,720,000 1,551 999

10 THE TESSARINA 1,313 2,020,000 1,538 FH

10 BELMOND GREEN 1,055 1,615,000 1,531 FH

10 HOLT RESIDENCES 2,067 3,160,000 1,529 FH

10 GLENTREES 1,442 2,195,000 1,522 999

10 VALLEY PARK 1,249 1,880,000 1,506 999

10 PALM SPRING 1,851 2,750,000 1,485 FH

10 DORMER PARK 1,679 2,480,000 1,477 FH

10 LEIGHWOODS 4,919 6,000,000 1,220 FH

11 SOLEIL @ SINARAN 581 1,200,000 2,064 99

11 SKY@ELEVEN 2,271 3,815,000 1,680 FH

11 NEWTON ONE 1,216 2,028,000 1,667 FH

11 ZEDGE 603 1,000,000 1,659 FH

11 AMARYLLIS VILLE 1,238 1,850,000 1,495 99

11 MONTEBLEU 1,475 2,120,000 1,438 FH

11 WATTEN HILL 2,626 3,270,000 1,245 FH

11 MANDALE HEIGHTS 2,573 3,020,000 1,174 FH

11 GOLDHILL TOWERS 1,550 1,800,000 1,161 FH

11 SUFFOLK PREMIER 1,335 1,350,000 1,011 FH

12 DE ROYALE 1,281 1,750,000 1,366 FH

12 CASA FORTUNA 710 890,000 1,253 FH

12 BOON TECK TOWERS 1,658 1,850,000 1,116 FH

12 TREVISTA 1,615 1,800,000 1,115 99

12 RIO GARDENS 947 970,000 1,024 FH

14 DAKOTA RESIDENCES 1,023 1,500,000 1,467 99

14 THE WATERINA 657 885,000 1,348 FH

14 SIMS DORADO 1,055 1,020,000 967 FH

14 STARVILLE 1,238 1,120,500 905 FH

Postal


Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

14 BLISS VILLE 1,636 1,400,000 856 FH

15 THE SEAFRONT ON MEYER 2,088 3,488,000 1,670 FH

15 THE VIEW @ MEYER 1,798 2,840,000 1,580 FH

15 THE SEAFRONT ON MEYER 1,615 2,550,000 1,579 FH

15 PEBBLE BAY 2,626 4,000,000 1,523 99

15 THE ESTA 1,313 1,940,000 1,477 FH

15 THE BEACON EDGE 678 968,000 1,427 FH

15 THE ESTA 1,711 2,395,400 1,400 FH

15 WATER PLACE 1,281 1,638,000 1,279 99

15 VERSILIA ON HAIG 1,023 1,290,000 1,262 FH

15 OCEAN PARK 2,110 2,600,000 1,232 FH

15 THE AMERY 1,389 1,700,000 1,224 FH

15 THE AMERY 2,024 2,220,000 1,097 FH

15 COTE D'AZUR 1,679 1,800,000 1,072 99

15 TROPICS @ HAIGSVILLE 1,141 1,138,880 998 FH

15 LAGUNA PARK 1,615 1,530,000 948 99

15 STILL MANSIONS 1,066 960,000 901 FH

16 LAGUNA GREEN 1,410 1,480,100 1,050 99

16 COUNTRY PARK CONDOMINIUM 1,765 1,800,000 1,020 FH

16 THE BAYSHORE 1,184 1,160,000 980 99

16 LAGUNA GREEN 1,173 1,150,000 980 99

16 AQUARIUS BY THE PARK 1,324 1,250,000 944 99

16 TANAMERA CREST 1,173 1,088,000 927 99

16 TANAMERA CREST 1,173 1,065,000 908 99

16 CASCADALE 1,561 1,398,000 896 FH

16 THE CLEARWATER 1,539 1,350,000 877 99

16 AQUARIUS BY THE PARK 1,206 1,050,000 871 99

16 BLEU @ EAST COAST 2,551 2,080,000 815 FH



NOTE: This data only covers non-landed residential resale property

transactions with caveats lodged with the Singapore Land

Authority. Typically, caveats are lodged at least 2-3 weeks after a

purchaser signs an OTP, hence the lagged nature of the data.

Postal


Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

16 CASAFINA 2,120 1,725,000 813 99

16 VENEZIO 1,216 950,000 781 FH

17 FERRARIA PARK CONDOMINIUM 936 960,000 1,025 FH

17 EDELWEISS PARK CONDOMINIUM 947 892,888 943 FH

17 CARISSA PARK CONDOMINIUM 969 885,000 914 FH

17 EDELWEISS PARK CONDOMINIUM 1,335 1,140,000 854 FH

17 AZALEA PARK CONDOMINIUM 1,507 1,260,000 836 999

18 SAVANNAH CONDOPARK 1,238 1,170,000 945 99

18 TROPICAL SPRING 1,389 1,238,000 892 99

18 MELVILLE PARK 1,044 825,000 790 99

18 EASTPOINT GREEN 1,302 996,000 765 99

19 KOVAN RESIDENCES 883 1,310,000 1,484 99

19 KOVAN GRANDEUR 570 735,000 1,288 99

19 3@SANDILANDS 474 600,000 1,267 999

19 CHERRYHILL 1,152 1,370,000 1,189 FH

19 SUNGLADE 1,173 1,350,000 1,151 99

19 KOVAN MELODY 1,216 1,230,000 1,011 99

19 EVANIA 1,421 1,420,000 999 FH

19 CRYSTAL DE AZURE 1,130 1,080,000 956 FH

19 COMPASS HEIGHTS 1,055 960,000 910 99

20 BISHAN POINT 1,270 1,255,000 988 99

20 BRADDELL VIEW 1,453 1,320,000 908 99

21 THE CASCADIA 570 1,030,000 1,805 FH

21 THE CASCADIA 1,238 2,220,000 1,793 FH

21 THE CASCADIA 1,238 2,206,000 1,782 FH

21 THE CASCADIA 1,184 2,005,000 1,693 FH

21 THE CASCADIA 1,173 1,980,000 1,688 FH

21 THE CASCADIA 1,184 1,928,000 1,628 FH

Postal


Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

21 THE CASCADIA 990 1,590,000 1,606 FH

21 THE BLOSSOMVALE 904 1,388,000 1,535 999

21 ENG KONG GREEN 840 870,000 1,036 FH

21 CLEMENTI PARK 2,368 2,380,000 1,005 FH

21 PARC PALAIS 1,238 1,210,000 977 FH

22 THE CENTRIS 1,066 1,218,888 1,144 99

22 THE LAKESHORE 1,109 1,110,000 1,001 99

22 PARC OASIS 1,227 1,175,000 958 99

23 THE JADE 1,345 1,346,000 1,000 99

23 CASHEW HEIGHTS CONDOMINIUM 1,658 1,638,000 988 999

23 THE PETALS 1,259 1,230,000 977 FH

23 HILLVIEW REGENCY 904 850,000 940 99

23 HILLVIEW REGENCY 1,109 1,000,000 902 99

23 NORTHVALE 1,270 960,000 756 99

23 PALM GARDENS 1,216 886,000 728 99

23 REGENT GROVE 1,475 1,068,000 724 99

25 CASABLANCA 893 785,000 879 99

25 ROSEWOOD 1,173 900,000 767 99

25 WOODGROVE CONDOMINIUM 1,668 1,188,000 712 99

26 BULLION PARK 1,238 1,318,000 1,065 FH

26 BULLION PARK 1,259 1,180,000 937 FH

26 SEASONS PARK 1,044 950,000 910 99

28 SELETAR SPRINGS CONDOMINIUM 1,335 1,060,000 794 99

Singapore Property Weekly Issue 76

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