Wednesday, December 29, 2010
Wednesday, December 22, 2010
Resale Condo Prices Still Flat
Dec 22, 2010
PROPERTY PRICES IN SINGAPORE
Resale condo prices still flat
'Prices of non-landed resale homes remained largely unchanged in Q4 this year,' said DTZ Research. -- ST PHOTO: ALPHONSUS CHERN
PRICES of resale condominium units have stayed more or less flat over the past six months though landed property performed strongly, according to new data analysed by consultancy DTZ Research.
One factor behind the steady trend for non-landed resale homes is that they had already risen sharply, it suggests.
Another is that home buyers are exercising greater prudence after market cooling measures introduced by the Government on Aug 30 to quell speculation.
But it is a completely different picture for the upscale landed homes segment.
Landed freehold units in the prime districts have seen prices rise 5.1 per cent this quarter from the previous quarter. Prices are about $1,693 per sq ft (psf).
Even outside prime districts, landed homes have posted strong price rises of 4.3 per cent to an average $993 psf.
Tuesday, December 21, 2010
10 most expensive houses in Singapore
By Mr. Propwise (courtesy of PropertyGuru)
With the opening of the two casinos and luxury home prices hitting new highs, there’s been a lot of talk about Singapore becoming the Monaco of the East, or a playground for the super rich.
I thought it would be fun to look at the priciest homes on the market, to see whether any had the price tag and cache to be ranked as one of the world’s most exclusive. I used
PropertyGuru to filter out the most expensive homes on the market (the prices below are the asking prices).
My findings? Amongst the top ten, all are landed properties and all but one are Good Class Bungalows. And unless you’re a multi-millionaire, you can’t afford one.
Here are the top 10 most expensive homes in Singapore in ascending order (from the least expensive to the priciest):
10. The “cheapest” property on our list is a S$48 million Good Class Bungalow situated along Victoria Park Road. Sitting on 32,088 square feet of freehold land (or S$1,496 per square foot), it has an aged two storey colonial style house with 8 bedrooms, a newly renovated two and a half storey house also with 8 bedrooms, and an outhouse for your staff with 2 maids rooms and a driver’s room. This is better than a buy one get one free deal!
9. For “just” S$48.5 million, you get a stately looking Good Class Bungalow in the Queen Astrid Park area sitting on a massive 40,500 square feet of land (or S$1,198 per square foot). You get 10 bedrooms and 9 bathrooms in this two storey house (enough to house all your visiting friends and relatives from abroad), two swimming pools and a garden. Entrepreneurial types can subdivide the plot of land into two GCBs.
8. In eighth place we have a buy one get one free deal. For S$50.5 million, you get a 32,088 square foot piece of freehold land (or S$1,573 per square foot) located in Victoria Park and zoned as a Good Class Bungalow. Sitting on this land are two bungalows, each 8,000 square feet in size. One has 5+1 bedrooms and the other 4+1 bedrooms.
7. Going for S$52 million, in seventh place we have a tropical style 22,000 square foot Good Class Bungalow located in Bishopsgate, which has 5+1+1 bedrooms, a lovely “matured” garden and swimming pool.
6. Located in the Holland area, this Good Class Bungalow in sixth place is going for S$53 million. It sits on 32,000 square feet of land (or S$1,656 per square foot) and has 5 bedrooms and 16,000 square feet of built up area. The listing doesn’t say much more – if you have to ask, you probably can’t afford it.
5. In fifth place we have a S$55 million dollar colonial style Good Class Bungalow along Leedon Road sitting on 43,927 square feet (or S$1,252 per square foot) of freehold land. You get a relatively small house for your money, with 6 bedrooms and 5 bathrooms being squeezed into “only” 6,000 square feet of built up area. But this is compensated by having a huge garden and your own swimming pool.
4. In fourth place is a S$58 million dollar Good Class Bungalow located in the exclusive enclave of Leedon Park. Situated on 42,000 square feet of land (or S$1,381 per square foot), this 6 bedroom house (17,000 square feet of built up area) has its own lap pool and baby pool. It’s being sold with vacant possession, so if you can cough up the money, you can move in right away.
3. In third place at S$60 million we have a brand new detached house with full sea view in Sentosa. Advertised as the largest landed property you can own on the resort island, this 6 bedroom house sits on 20,000 square feet of 99-year leasehold land (or S$3,158 per square foot) and has a built up area of 19,000 square feet.
2. Coming in second is a S$73 million dollar Good Class Bungalow in Leedon Park. Sitting on 41,852 square feet of freehold land (or S$1,744 per square foot), the house has 16,500 square feet of built up area, which contains 6+1 bedrooms, a wide frontage with two automatic gates, a garage and a swimming pool.
1. And in first place (drumroll please)…For a cool S$90 million, you can pick up a 20,000 square foot Good Class Bungalow sitting on 45,000 square feet of freehold land (or S$2,000 per square foot). Situated along Nassim Road, it is within walking distance to the bustling Orchard Road shopping district. This massive house has 10 bedrooms and 9 bathrooms, and is advertised as being “priced to sell” – to billionaires, that is.
Mr. Propwise is the founder of Singapore property blog www.propwise.sg, which aims to help people make better real estate buying, selling, renting and investing decisions.
With the opening of the two casinos and luxury home prices hitting new highs, there’s been a lot of talk about Singapore becoming the Monaco of the East, or a playground for the super rich.
I thought it would be fun to look at the priciest homes on the market, to see whether any had the price tag and cache to be ranked as one of the world’s most exclusive. I used
PropertyGuru to filter out the most expensive homes on the market (the prices below are the asking prices).
My findings? Amongst the top ten, all are landed properties and all but one are Good Class Bungalows. And unless you’re a multi-millionaire, you can’t afford one.
Here are the top 10 most expensive homes in Singapore in ascending order (from the least expensive to the priciest):
10. The “cheapest” property on our list is a S$48 million Good Class Bungalow situated along Victoria Park Road. Sitting on 32,088 square feet of freehold land (or S$1,496 per square foot), it has an aged two storey colonial style house with 8 bedrooms, a newly renovated two and a half storey house also with 8 bedrooms, and an outhouse for your staff with 2 maids rooms and a driver’s room. This is better than a buy one get one free deal!
9. For “just” S$48.5 million, you get a stately looking Good Class Bungalow in the Queen Astrid Park area sitting on a massive 40,500 square feet of land (or S$1,198 per square foot). You get 10 bedrooms and 9 bathrooms in this two storey house (enough to house all your visiting friends and relatives from abroad), two swimming pools and a garden. Entrepreneurial types can subdivide the plot of land into two GCBs.
8. In eighth place we have a buy one get one free deal. For S$50.5 million, you get a 32,088 square foot piece of freehold land (or S$1,573 per square foot) located in Victoria Park and zoned as a Good Class Bungalow. Sitting on this land are two bungalows, each 8,000 square feet in size. One has 5+1 bedrooms and the other 4+1 bedrooms.
7. Going for S$52 million, in seventh place we have a tropical style 22,000 square foot Good Class Bungalow located in Bishopsgate, which has 5+1+1 bedrooms, a lovely “matured” garden and swimming pool.
6. Located in the Holland area, this Good Class Bungalow in sixth place is going for S$53 million. It sits on 32,000 square feet of land (or S$1,656 per square foot) and has 5 bedrooms and 16,000 square feet of built up area. The listing doesn’t say much more – if you have to ask, you probably can’t afford it.
5. In fifth place we have a S$55 million dollar colonial style Good Class Bungalow along Leedon Road sitting on 43,927 square feet (or S$1,252 per square foot) of freehold land. You get a relatively small house for your money, with 6 bedrooms and 5 bathrooms being squeezed into “only” 6,000 square feet of built up area. But this is compensated by having a huge garden and your own swimming pool.
4. In fourth place is a S$58 million dollar Good Class Bungalow located in the exclusive enclave of Leedon Park. Situated on 42,000 square feet of land (or S$1,381 per square foot), this 6 bedroom house (17,000 square feet of built up area) has its own lap pool and baby pool. It’s being sold with vacant possession, so if you can cough up the money, you can move in right away.
3. In third place at S$60 million we have a brand new detached house with full sea view in Sentosa. Advertised as the largest landed property you can own on the resort island, this 6 bedroom house sits on 20,000 square feet of 99-year leasehold land (or S$3,158 per square foot) and has a built up area of 19,000 square feet.
2. Coming in second is a S$73 million dollar Good Class Bungalow in Leedon Park. Sitting on 41,852 square feet of freehold land (or S$1,744 per square foot), the house has 16,500 square feet of built up area, which contains 6+1 bedrooms, a wide frontage with two automatic gates, a garage and a swimming pool.
1. And in first place (drumroll please)…For a cool S$90 million, you can pick up a 20,000 square foot Good Class Bungalow sitting on 45,000 square feet of freehold land (or S$2,000 per square foot). Situated along Nassim Road, it is within walking distance to the bustling Orchard Road shopping district. This massive house has 10 bedrooms and 9 bathrooms, and is advertised as being “priced to sell” – to billionaires, that is.
Mr. Propwise is the founder of Singapore property blog www.propwise.sg, which aims to help people make better real estate buying, selling, renting and investing decisions.
Wednesday, December 15, 2010
Naked man arrested at McDonald’s outlet
By Faris – December 14th,
A Chinese man in his mid-twenties gave McDonald’s customers and crew alike a nasty shock when he walked in naked. (Yahoo! file photo)
A man was refused service by the McDonald’s crew in Queensway after he walked in stark naked and tried to order breakfast in the early hours of Sunday morning.
The incident occurred at the Rideout Tea Garden McDonald’s outlet along Queensway around 4am.
A witness, media coordinator Aslan Asat, 26, who was sitting in the alfresco area of the restaurant with three of his friends, told The New Paper they were shocked to see the man grinning as he casually walked into the restaurant totally nude.
“The naked guy was holding on to a laptop case, but he did not attempt to cover his private parts with it,” he added. The naked man also did not appear to be intoxicated.
It is understood that the Chinese man, who looked to be in his mid-twenties to early thirties, tried to order a cup of coffee over the counter but was refused service by the McDonald’s crew.
Mr Aslan said, “The McDonald’s staff asked him to leave, but he loitered around in the restaurant for at least 10 minutes before walking out.”
There were six other customers in the fast-food restaurant at the time, and they had the same reaction towards the naked man.
“Everyone was gawking at him initially and started to giggle after a while,” he said.
However, the naked man continued to loiter outside the restaurant even after being asked to leave.
“He took out a phone from the laptop case and started to make a call. I overheard him complaining about the refusal of service by McDonald’s staff in English,” said Mr Aslan.
“He left only after lighting up a cigarette.”
A McDonald’s spokesman confirmed the incident and said the restaurant had to turn the customer away due to the objectionable nature of his behaviour.
“The fast-food restaurant has referred the case to the police and investigations are under way.”
Police said they received a call at 4.35am on Sunday regarding a man appearing naked at a McDonald’s outlet. They arrested the man and referred him to the Institute of Mental Health (IMH) for psychiatric assessment.
Lawyer, Foo Cheow Ming, told the paper that appearing naked in public and exposing one’s private parts is regarded as an “obscene” act by Singapore courts.
If found guilty, the man faces a maximum sentence up to three months in jail and a fine of $2,000.
A Chinese man in his mid-twenties gave McDonald’s customers and crew alike a nasty shock when he walked in naked. (Yahoo! file photo)
A man was refused service by the McDonald’s crew in Queensway after he walked in stark naked and tried to order breakfast in the early hours of Sunday morning.
The incident occurred at the Rideout Tea Garden McDonald’s outlet along Queensway around 4am.
A witness, media coordinator Aslan Asat, 26, who was sitting in the alfresco area of the restaurant with three of his friends, told The New Paper they were shocked to see the man grinning as he casually walked into the restaurant totally nude.
“The naked guy was holding on to a laptop case, but he did not attempt to cover his private parts with it,” he added. The naked man also did not appear to be intoxicated.
It is understood that the Chinese man, who looked to be in his mid-twenties to early thirties, tried to order a cup of coffee over the counter but was refused service by the McDonald’s crew.
Mr Aslan said, “The McDonald’s staff asked him to leave, but he loitered around in the restaurant for at least 10 minutes before walking out.”
There were six other customers in the fast-food restaurant at the time, and they had the same reaction towards the naked man.
“Everyone was gawking at him initially and started to giggle after a while,” he said.
However, the naked man continued to loiter outside the restaurant even after being asked to leave.
“He took out a phone from the laptop case and started to make a call. I overheard him complaining about the refusal of service by McDonald’s staff in English,” said Mr Aslan.
“He left only after lighting up a cigarette.”
A McDonald’s spokesman confirmed the incident and said the restaurant had to turn the customer away due to the objectionable nature of his behaviour.
“The fast-food restaurant has referred the case to the police and investigations are under way.”
Police said they received a call at 4.35am on Sunday regarding a man appearing naked at a McDonald’s outlet. They arrested the man and referred him to the Institute of Mental Health (IMH) for psychiatric assessment.
Lawyer, Foo Cheow Ming, told the paper that appearing naked in public and exposing one’s private parts is regarded as an “obscene” act by Singapore courts.
If found guilty, the man faces a maximum sentence up to three months in jail and a fine of $2,000.
Monday, December 13, 2010
River Place Caught Attention Of Investor
River Place on Havelock Road fetches $1,307 psf
The 509-unit River Place on Havelock Road has recently caught the attention of investors and property agents attribute it to the perception that it could be undervalued relative to other newer projects in the vicinity — for instance, The Pier at Robertson, completed in 2006, where transaction prices in late September/October ranged from $1,696 to $2,032 psf; and Watermark at Robertson Quay, completed two years ago, where the most recent transaction in October was at $1,579 psf. The proximity of River Place to the CBD and the entertainment/F&B enclave of Boat Quay and Clarke Quay along the Singapore River makes it popular with expatriates. The condominium saw four transactions in the Nov 9 to 16 periods. Prices ranged from $1,143 to $1,307 psf, according to caveats lodged with URA Realis. Developed by Far East Organization, River Place consists of four towers, with one- to four bedroom units measuring 678 to 2,100 sq ft. The condominium along the Singapore River also contains 50 penthouses and maisonettes, measuring 1,292 to 3,649 sq ft. Completed in 2000, the 99-year leasehold River Place was launched in early 1997. It was also when the property market was still toppish, although sentiment had been affected by the tough anti-speculation measures introduced on May 15, 1996. Prices of units sold when the project was launched ranged from $1,100 to $1,200 psf. In the Tanjong Pagar area, the 351-unit Spottiswoode Residences was launched in early November at prices ranging from $1,720 to $2,150 psf. Even new launches of 99-year leasehold condos in the suburbs of Yio Chu Kang and Ang Mo Kio are priced at $1,100 to $1,200 psf today. Prices at River Place may not have moved much, but rental rates certainly have, and investors there are enjoying high rental yields, notes Alan Shue of Propnex. Most recently, the owner of a 1,389 sq ft unit at River Place listed an asking rent of $7,000 a month, says Shue. Monthly rental rates are $4.50 to $5 psf, translating into a rental yield of 5%. River Place has a strong take-up rate, especially among singles and young couples who are working in the CBD area such as Raffles Place. Another key contributing factor to the strong rental growth at the development is the spacious bedroom layout, adding that one-bedroom units range from 678 to 925 sq ft, unlike some of the new city apartments, which measure 350 to 400 sq ft. Situated along the Singapore River at Havelock Road and Clemenceau Avenue, River Place is a 10- to 15-minute walk to both the Clarke Quay and China Town MRT stations, as well as two bus stops away from the Raffles MRT station. Residents could also walk to Mohamed Sultan, Riverside Point, Clarke Quay and Boat Quay.
- The Edge
The 509-unit River Place on Havelock Road has recently caught the attention of investors and property agents attribute it to the perception that it could be undervalued relative to other newer projects in the vicinity — for instance, The Pier at Robertson, completed in 2006, where transaction prices in late September/October ranged from $1,696 to $2,032 psf; and Watermark at Robertson Quay, completed two years ago, where the most recent transaction in October was at $1,579 psf. The proximity of River Place to the CBD and the entertainment/F&B enclave of Boat Quay and Clarke Quay along the Singapore River makes it popular with expatriates. The condominium saw four transactions in the Nov 9 to 16 periods. Prices ranged from $1,143 to $1,307 psf, according to caveats lodged with URA Realis. Developed by Far East Organization, River Place consists of four towers, with one- to four bedroom units measuring 678 to 2,100 sq ft. The condominium along the Singapore River also contains 50 penthouses and maisonettes, measuring 1,292 to 3,649 sq ft. Completed in 2000, the 99-year leasehold River Place was launched in early 1997. It was also when the property market was still toppish, although sentiment had been affected by the tough anti-speculation measures introduced on May 15, 1996. Prices of units sold when the project was launched ranged from $1,100 to $1,200 psf. In the Tanjong Pagar area, the 351-unit Spottiswoode Residences was launched in early November at prices ranging from $1,720 to $2,150 psf. Even new launches of 99-year leasehold condos in the suburbs of Yio Chu Kang and Ang Mo Kio are priced at $1,100 to $1,200 psf today. Prices at River Place may not have moved much, but rental rates certainly have, and investors there are enjoying high rental yields, notes Alan Shue of Propnex. Most recently, the owner of a 1,389 sq ft unit at River Place listed an asking rent of $7,000 a month, says Shue. Monthly rental rates are $4.50 to $5 psf, translating into a rental yield of 5%. River Place has a strong take-up rate, especially among singles and young couples who are working in the CBD area such as Raffles Place. Another key contributing factor to the strong rental growth at the development is the spacious bedroom layout, adding that one-bedroom units range from 678 to 925 sq ft, unlike some of the new city apartments, which measure 350 to 400 sq ft. Situated along the Singapore River at Havelock Road and Clemenceau Avenue, River Place is a 10- to 15-minute walk to both the Clarke Quay and China Town MRT stations, as well as two bus stops away from the Raffles MRT station. Residents could also walk to Mohamed Sultan, Riverside Point, Clarke Quay and Boat Quay.
- The Edge
Sunday, December 12, 2010
Quotes Of The Day
These then are my last words to you. Be not afraid of life. Believe that life is worth living and your belief will help create the fact.
Friday, December 10, 2010
Bank interest rate expected to increase
The record-low mortgage rates that are enjoyed by Singapore home buyers may soon be over, said economists.
Several economists expect interest rates to climb next year, attributed largely to the increase in forecasted interest rates in the US.
According to a survey of 22 economists conducted by the Monetary Authority of Singapore (MAS), the three-month US-dollar Singapore Interbank Offered Rate (Sibor) will likely increase 0.2 percentage point to 0.5 percent in 2011.
Meanwhile, the three-month Singdollar interbank rate is also projected to jump to 0.7 percent from the current 0.5 percent.
Economists have predicted interest rates hikes since they expect the US to increase mortgage rates and tighten monetary policy towards the second half of 2011.
“There is an upward bias of interest rates in the US, and although I don't expect the rates there to jump to 3.5 percent any time soon, rates are on an upward trend,” said Leong Wai Ho, an economist at Barclays Capital, citing that Singapore rates follow closely with the US rates.
Several economists expect interest rates to climb next year, attributed largely to the increase in forecasted interest rates in the US.
According to a survey of 22 economists conducted by the Monetary Authority of Singapore (MAS), the three-month US-dollar Singapore Interbank Offered Rate (Sibor) will likely increase 0.2 percentage point to 0.5 percent in 2011.
Meanwhile, the three-month Singdollar interbank rate is also projected to jump to 0.7 percent from the current 0.5 percent.
Economists have predicted interest rates hikes since they expect the US to increase mortgage rates and tighten monetary policy towards the second half of 2011.
“There is an upward bias of interest rates in the US, and although I don't expect the rates there to jump to 3.5 percent any time soon, rates are on an upward trend,” said Leong Wai Ho, an economist at Barclays Capital, citing that Singapore rates follow closely with the US rates.
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