This number sold in March is certainly far more than the its sales in the previous month at the median price of $1,355 per square foot and it is also is best sales’ month since its inception back in October 2015 with over 670 sold total units sold in this 99-year leasehold development at Sims Drive.

With units at Sims Urban Oasis moving, the nearby project Tre Residences has also seen has seen a pickup in sales volume over the past month. The 250-unit condominium Tre Residences at Aljunied MRT station, is just 300 meters away. It has sold over 40 units since March and the prices are ranging from $1,380 per square foot to around $1,574 per square foot for their two- to four- bedroom units. Also see, upcoming Hundred Palms EC at Yio Chu Kang

Many property industry watchers think that the movement in sales were largely due to the recent introduction of Park Place Residences at Paya Lebar Quarters. It is the latest new development in Singapore with over 429 residential units and recently open for sales in March 2017. Since its launch in the first week of March, more than 200 units have been snapped up and their prices ranging from $800,000 to over $1.2 million dollars and its developer is none other the big boy, Lendlense, from Australia.

The recent launch of Park Place Residences at Paya Lebar Quarter was seen to have helped push sales at Sims Urban Oasis and Tre Residences

Another project that was launched recently in the east is CapitaLand’s Marine Blue, which has seen at least 15 units sold. The 124-unit freehold project was completed last October and was officially launched on March 18. Units sold so far were the one-bedroom-plus-study units, which range from 635 to 732 sq ft. They fetched prices ranging from $1.1 million ($1,737 psf) to $1.45 million ($2,109 psf). A 1,270 sq ft, one-bedroom-plus-study loft unit was sold for $1.65 million ($1,297 psf). Two of the penthouses were also sold: A 3,089 sq ft unit fetched $4.38 million ($1,418 psf) and a 3,261 sq ft unit was sold for $4.44 million ($1,360 psf).

Marine Blue is located adjacent to the Grand Mercure Roxy Hotel and the upcoming Marine Parade MRT station. Construction of the MRT station on the Thomson-East Coast Line is currently underway.

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This new condominium launching in 2017 is an Executive Condominium that will be situation at Choa Chu Kang. Named Inz Residences, it will feature over 490 residential units comprising two to four bedroom unit types from 689 to 1,378 square foot in sizes. There is also the option of five bedroom (Yes! you heard it right!) maisonettes available from 1,690 to 1,711 square foot. The entire project spans over 9 residential blocks and over 15-storey high with huge communal facilities, landscape decks and sky terraces.

Changing the game in smart homes

Just over two and year half years ago, Qianjian Realty took the plunge and developed a new smartphone mobile application named HiLife in collaboration with tech-giant Samsung. It was then introduced in their project, Riversound Residences in 2015. This application had enabled the residents to engage in the development’s social network allowing them access to the communal facilities, selecting a cleaner for their house and even purchase groceries!

Then in 2016, Qianjian Realty rolled out this application for their first smart-home residential executive condominium, The Visionaire (situated in Sembawang) . It was dubbed as the first executive condominium with smart home features. This application was improved with the addition features to look up maintenance services such as air-conditioning, as well as plumbing, home repair and cleaning services. Thats not all, the application will allow the residents to check out nearby amenities such as enrichment centres, yoga classes, nail spas, beauty treatment and massage centres, F&B outlets and entertainment facilities.

Now in 2017, Inz Residence is set to feature this application as well – with a added bonus. The developer Qianjian has tied up with communications giant Singapore Telecommunications (Singtel) to provide internet-ready apartments together with their HiLife solutions. This is said to be the first of its kind and will certainly pave the way for other developers in the future. Residential units in Inz Residences will come provided with the 1-gigabit SingTel Fibre Broadband in the units and they will be wifi-stations all over the residential project within the development.

Just in case you are wondering what  an executive condominium is, check out this article on these condominiums.

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Reasonable Price! (That’s what we think!)

The 505 residential apartments are split over two tower blocks of 40-storey each with unit sizes ranging from 635 square foot to 1,539 square foot. The developer has also indicated a price range between $1,330 per-square-foot and $1,360 per-square-foot. Considering the neigbouring development Trilinq, which was launch at a price of over $1,600 per-square-foot, this makes The Clement Canopy a reasonable bargain given that it is in a well-equipped mature estate.

What’s in it for you at this development?

This is joint-development of two local big boys, SingLand and UOL Group and it is the very first condominium to be launched this year in 2017. Besides, it sits in prime mature estate – Clementi, which is also known as a major tertiary hub with schools like National University of Singapore (NUS) and Singapore Polytechnic in the area. This development is also the first private residential condominium in Clementi Avenue 1 and is expected to see strong buying interests. Not only that, a lot of potential home seekers also see the value of The Clement Canopy with its connectivity and reasonable pricing. With it being situated near to One-North, it is also one of the reasons why we see people flocking to see the show flat.

Smart Homes – Are you ready for it?

It is not difficult to find anything that is not “smart” nowadays. We have our smart-phones, smart-watches and smart-televisions. The developers of The Clement Canopy is also entering the league of Smart Homes. Singapore has announced its vision to eventually become a Smart Country and today, a lot things you see will be very smart! Residents of this new project at Clementi Avenue 1 will be offered mobile solutions when it comes to making a reservation for its communal facilities. Not only that, these residents can perform functions such as turning on and off of the air-conditioning and lightings with these mobile features.

Analysts have reported an increment of over 7.2 percent in 2016 in residential sales in Singapore. This upward sentiment is also expect to continue moving forward in 2017.

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Luxury condominiums in the prime districts such as District 9 & 10 is seeing a continuation of upward trend since the middle of 2016. Sales of these luxury segment homes have increased in January 2017.
Certain industry experts are saying that buyers are thought to have perceive a significant fall in property prices and think that it is right time to buy now.

Gramercy Park – a property development by City Developments (CDL) is one the the fore-running culprit that had invigorated buy interest in both local and foreign home seekers. This property comprising 174 unit is freehold and had obtained its temporary occupation permit (TOP) in 2016. It has sold more than 50 units since its launch sales right after its TOP. The main bulk of the units are 2-bedders with sizes from from 1,184 sq ft and three-bedroom units of 2,207 sq ft on the low floors. The prices were reported to be from around $2,980,000 to $5,900,000.

Earlier in January 2017, there were a couple of units that was sold. They were the three and four bedroom units costing from $5,470,000 to $7,270,000 according to the information reported of Urban Redevelopment Authority (URA) caveats.

Will we see more good deals coming up?

Ardmore Three, a project by Wheelock Properties in the exclusive neighbourhood of Ardmore Park, was giving special discounts and packages to buyers. The package offered was a 15% discount and also a 15% Additional Buyers’ Stamp Duty (ABSD) assistance pack. It prompted positive reactions from home seekers and had sold over 60 units in 2016. At the time of writing, there is only a limited of 20 units remaining.
This is a freehold developement completed in 2014.

More such deferred payment deals to come

In late January 2017, Wheelock Properties offered home buyers a deferred payment scheme under which allow buyers to pay a mere 1% booking fee, followed by 4% a fortnight later. Another 15% has to be paid only four weeks later, and the remaining 80% is due only two years later from the date of signing the option to purchase. However, those who opt for the DPS will be entitled to 12% ABSD rebate instead of 15% under the normal payment scheme.

Recently, a 1,787 sq f, three-bedroom unit at Ardmore Three was sold for $6.29 million ($3,518 psf), according to a caveat lodged on Jan 25. This marks the first transaction at Ardmore Three since the DPS was launched.

We expect more developers to offer the similar incentives to entice home buyers in the coming months of 2017. Watch this space for more updates!

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What exactly is REDAS asking?

The Real Estate Developers’ Association of Singapore (REDAS) is seeking the Government of Singapore in hopes to reduce the property tax for vacant land. Not only for vacant land – they are also seeking a tax exemption for land under development and those that have yet to commence development; tax exemption on buildings undergoing renovation, provide tax concessions for vacant properties; and to make the valuation process more transparent.

They are also proposing for the existing basis of tax assessment on vacant land to match the land’s lease term. Besides that, Real Estate Developers’ Association of Singapore (REDAS) also included reducing business costs, regulatory fees and seeking the government’s help to facilitate special training grants to enhance maintenance skills and technical expertise. Augustine Tan – President of REDAS says the proposals were made on concerns that Singapore’s open economy is vulnerable to external shocks and negative sentiments can weigh heavily on the property market. “These considerations will go a long way to help companies contain costs and ensure business sustainability,” says Tan, who was elected as president of REDAS for a second two-year term for 2017/18.

Are we going to expect good deals on property in Singapore?

For now, it is certainly hard to say. Augustine Tan was quoted saying that there were indeed renewed interest in property launches in recent months but it is still too soon to conclude that a market recovery is in sight. In fact, we saw that transaction volume of new private residential property in Singapore has decreased 50% from 15,900 units in 2011 to just below 8,000 units in 2016. Industry experts are forecasting that the private residential sale volume for this year to come in between 7,000 and 8,000 units.

Oversupply looming

The increasing vacancy rates and slow demand is continuing to take its toll in the property market, it all affects all segments of it. The weak demand and oversupply situation have also pressured prices and rentals of commercial offices with it falling 2.8% and 8.2% respectively in 2016. Singapore’s property vacancy rate has also rosed to 11% by the end of 2016 – which is close to the last high back in 2012 at 11.7%.

The retail sector is also hurting, with vacancy rate spiking from 4.5% in 4Q2013 to 7.5% in 4Q2016. In the industrial sector, demand for industrial space decreased significantly. Supply has outstripped demand for seven consecutive quarters on the back of weak rents and soft capital value. Industrial prices had fallen 9.1% y-o-y, while rents have fallen 6.8% y-o-y. Vacancy rate rose to 10.5% at the end of 2016 compared to 9.4% in 2015.

At allthedeals.sg, we expect further softening of the prices and especially in rental across all segments of the property market. We expect more rental deals to spring up this year. Sales, however, we do not expect significant price drops although we should see developers offering further incentive to property buyers.

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A look in the past 6 months from October 2016 suggests that there have a numerous transactions going on in prime districts such as District 01, 02, 09, 10 and 11 with a record of 42 transactions between October 2016 to January 2017. Such property transactions are for smaller size units such as 420 square-foot and up to 870 square-foot.

Buying property in these areas are also seen as attractive and it is often known that some of the buyers, with young families, want their children to go to good schools such as Methodist Girls’ School, Nanyang Primary School, Raffles Girls’ Primary School and River Valley Primary School. Lets look at some of the transacted deals and how you should go about hunting for more.

1. Novena Court

Situated at prime district 11, Novena Court is a walk-up apartment completed in 1970 that is 4 storey high. This is freehold apartment that has a mix of two or three bedroom apartments sized between 775 square foot and 861 square foot. Recent transaction includes a 3-bedroom apartment with a size of 861 square foot at $1,100,000 in December 2016.

2. The Boutiq

The elusive District 9 is what bargain hunters always like to get. There is The Boutiq, completed in 2014, is a freehold condominium at Killiney Road that was built by the renown trio of Heeton Holdings, KSH Holdings and TEE Land. This is something to shout about because the latest transacted was a 1-bedroom at $1,000,000 – A good deal!

3. RV Residences

Yet another favourite hunting ground for these bargain hunters, River Valley will always be the apple in their eyes. In District 10, there have been plenty bargains in recently – especially freehold ones!
The most recent at River Valley being RV Residences, almost freehold with 999 year lease, completed in 2015 and has many small and value buys in the development. It has two-bedroom units and three-bedroom units with the best value one-bedroom units sized from 419 square foot to 452 square foot and the best part of it – The Recent transaction went for less than a million dollars at $917,000. Unbelievable!

Bonus: 26 Newton

District 11 at its best with both public transport and driving accessibility at Newton Road. The famous Novelty Group is behind this wonderful project and they got it built up in 2015. The freehold wonder has convenience with Newton MRT and Novena MRT. Can you imagine staying at a place like this? It should be a real bargain – only if the price right. This project has a decent mix of one and two bedroom apartments of 474 square foot to 1,033 square foot.

Best of all, recent transactions suggest that 26 Newton has the best value of them all! A one-bedroom unit went for only $987,000 in December 2017!!!

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