Issue 227

Copyright 2011-2014 www.Propwise.sg. All Rights Reserved.

CONTENTS
p2

An exciting announcement

p4

Singapore Property News This Week

p8

Resale Property Transactions

FROM THE

EDITOR

Welcome to the 227th edition of the

Singapore Property Weekly.
Hope you like it!
Mr. Propwise

(September 9 September 15 )

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SINGAPORE PROPERTY WEEKLY Issue 227

An exciting announcement
Dear Readers,

When I started Propwise.sg 5 years ago, I

had a mission of helping buyers and investors
understand the real estate market and make
better buying, selling and renting decisions
without the hype and misinformation.
Over the years, Ive had many readers asking
me whether I would conduct seminars to help
educate them on property investing. Ive
always turned them down. Honestly, while I
have profitably bought and sold several
properties, I have never considered myself an
expert on the market, but more an informed
observer and analyst.

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SINGAPORE PROPERTY WEEKLY Issue 227

Im glad to report, however, that Ive finally
found someone whom I consider to be a
real expert on property investing both in
Singapore and globally, with decades of
experience, lots of credibility and the heart to
selflessly teach and share what he knows.
Oh, hes also an incredible teacher.

Ill be working with him and his team to

organize a series of educational talks over the
next couple of months. Want to know who?
Details will be out next week!

opportunity could be coming in the next

couple of years (the last time was during the
Global Financial Crisis).
Its time to get prepared, conserve your
cash and get educated to be in a position to
take
advantage
of
any
upcoming
opportunities.
To wisdom and beyond,
Mr. Propwise

As we helplessly choke on the 200+ PSI haze

in Singapore, I see grey skies ahead the
Singapore stock market (which tends to be a
leading indicator for property) is now officially
in a bear market, we are likely heading
towards a recession, and potential black
swans are circling everywhere. For the
patient property investor, a once-in-a-decade

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SINGAPORE PROPERTY WEEKLY Issue 227

Singapore Property This Week

Residential
GCB at Upper Thomson Road up for sale
A freehold good class bungalow (GCB) at
Thomson Road has been put up for sale at
an indicative price of $27 million or $1,280
psf based on a land area of 21,091 sq ft. The
bungalow was built in the 1950s and is
located near Thomson Plaza. The site has
been put up for public tender and the tender
will close on 21 October. According to Stella
Hoh from Colliers, 25 GCBs worth $543
million in total changed hands last year. Thus
far this year, there have already been 20

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GCBs transacted at a total value of $485

million, Hoh added.
(Source: Business Times)
Private housing site on reserve list of GLS
triggered for tender
A housing site at Lor Lew Lian, which was put
on the reserve list of the Government Land
Sales (GLS) has been triggered for tender
a first in the last 21 months. Based on
estimates stated in the current H2 2015 GLS
Programme, the 99-year leasehold site may
be developed into a 465-unit private condo
project.

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SINGAPORE PROPERTY WEEKLY Issue 227

An unnamed developer had made a minimum
bid of $250 million or $552.93 psf of potential
gross floor area. This commitment has led to
the release of the site for tender. Located
near Serangoon MRT Station, the 1.4 ha site
has a maximum gross floor area to land area
ratio of 3.0. The tender is expected to be
launched next month according to the Urban
Redevelopment Authority. Wong Xian Yang
from OrangeTee.com predicts that there
would be about 6 to 12 bids for the site. He
believes the top bid would be around $590630 psf ppr. On the other hand, Alan Cheong
from Savills believes that the site would
attract bids that are about $700-800 psf ppr
due to its proximity to the MRT Station.

(Source: Business Times)

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MND: BTO launch in September will be

merged with Novembers launch
Previously,
the
Ministry
of
National
Development (MND) announced that the BTO
launch in September will be delayed by a few
weeks so that three housing policies tweaked
recently could benefit as many Singaporeans
as possible. MND had alsoscheduled for
another launch in November this year.
However, due to the proximity of the
September and November launch, MND had
decided to merge both launches into a mega
launch in November, said Minister of National
Development, Khaw Boon Wan. About 7,000
HDB flats would be launched in 6 HDB towns
including Bidadari, Bukit Batok, Chua Chu
Kang, Hougang, Punggol Northshore and
Sengkang.

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SINGAPORE PROPERTY WEEKLY Issue 227

Not only so, 5,000 balance flats in a
concurrent Sale of Balance Flat exercise
would be released.
(Source: Business Times)
Two adjacent EC projects at Yishun
launched for sale

Two adjacent executive condominium (EC)

projects in Yishun, The Criterion and
Signature, have been launched. The sites
were bought by City Development (CDL) and
JBE Holdings respectively. CDL had paid
$330 psf ppr, while JBE paid $335 psf ppr for
their sites previously. Market experts believe
that CDL may project a higher price to reflect
higher qualities finishes and amenities, while
JBE is expected to price competitively.
(Source: Business Times)

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GCB at Cluny Hill sold for $21.52m

A 15,097 sq ft good class bungalow (GCB) at
Cluny Hill was sold for $21.52 million or
$1,425 psf based on land area; this is lower
than the $1,659 psf at which another GCB
along Cluny Road had changed hands for last
year. According to William Wong from
Realstar Premier Group, due to lowered price
expectations by sellers, more GCBs have
been marketed at a lower price point; this has
led to an increase in demand following the
lowered price.
(Source: Business Times)

Commercial
Prefabrication hub opens in Kaki Bukit
Located at Kaki Bukit Road, SEF SpaceHub
was launched last Wednesday.

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SINGAPORE PROPERTY WEEKLY Issue 227

The multi-storey compound will be used for
design,
production
and
storage
of
prefabricated
components
used
in
construction. The site has a gross floor area
of 3.26 ha. According to Senior Minister of
State for Trade and Industry, Lee Yi Shyan,
the government aims to have about 10 such
integrated construction and prefabrication
hubs by 2020.

(Source: Business Times)

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SINGAPORE PROPERTY WEEKLY Issue 227

Non-Landed Residential Resale Property Transactions for the Week of Sep 9 Sep 15

Postal
District
1
3
5
8
9
9
9
10
10
11
13
14
14
14
15
15
15
15
15
15
15
16
16
18

Project Name
MARINA BAY SUITES
RIVER PLACE
DOVER PARKVIEW
CITYLIGHTS
LEONIE SUITES
CAIRNHILL CREST
PACIFIC MANSION
VIZ AT HOLLAND
RIDGEWOOD
THE AXIS
8@WOODLEIGH
THE WATERINA
GRANDLINK SQUARE
THE SUNNY SPRING
THE MAKENA
THE SEAFRONT ON MEYER
COTE D'AZUR
THE WATERSIDE
THE ATRIA AT MEYER
TEMBELING GROVE
PROSPERO VILLE
THE BAYSHORE
BAYWATER
SEASTRAND

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Area Transacted Price

Tenure
(sqft) Price ($) ($ psf)
2,691 7,000,000 2,601
99
721
970,000 1,345
99
969
990,000 1,022
99
3,218 3,050,000 948
99
689 1,200,000 1,742
99
1,981 3,438,888 1,736
FH
1,528 1,800,000 1,178
FH
2,454 3,200,000 1,304
FH
1,722 2,150,000 1,248 999
753 1,028,000 1,364
FH
398
650,000 1,632
99
1,216 1,460,000 1,200
FH
1,109 1,050,000 947
FH
1,238 1,020,000 824
FH
926 1,318,000 1,424
FH
1,604 2,100,000 1,309
FH
1,389 1,780,000 1,282
99
2,142 2,660,000 1,242
FH
2,949 3,550,000 1,204
FH
1,518 1,500,000 988
FH
1,076 990,000
920
FH
1,432 1,380,000 964
99
2,906 1,905,000 655
99
581
680,000 1,170
99

Postal
District
18
19
21
21
21
23
23
23
27
27
28

Project Name
MELVILLE PARK
AMARANDA GARDENS
TERRENE AT BUKIT TIMAH
PANDAN VALLEY
HIGH OAK CONDOMINIUM
HILLVIEW HEIGHTS
HAZEL PARK CONDOMINIUM
CASHEW HEIGHTS CONDOMINIUM
ORCHID PARK CONDOMINIUM
SUN PLAZA
NIM GARDENS

Area Transacted Price

Tenure
(sqft) Price ($) ($ psf)
1,044 755,000
723
99
1,163 1,540,000 1,325
FH
1,550 2,175,000 1,403 999
2,239 2,100,000 938
FH
1,270 1,020,000 803
99
980
988,000 1,009
FH
1,335 1,280,000 959
999
1,658 1,518,000 916
999
980
685,000
699
99
2,088 1,300,000 623
99
1,830 1,571,500 859
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.

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