Hotline:61003515 Direct fr Developer http://www.developerlaunch.com Singapore Latest Property New Launch, Direct from Developer Sun, 19 May 2013 16:00:00 +0000 en-US hourly 1 http://wordpress.org/?v=3.4.1 Singapore,new,launch,new,property,proeprty,direct,from,developerBusiness/Management & Marketingdeveloperlaunch168@gmail.comcleanSingapore,new,launch,new,property,proeprty,direct,from,developerDeveloper LaunchSingapore Latest new propert launch direct from developer Hotline:61003515http://creativecommons.org/licenses/by/2.0/developerlaunchhttp://feedburner.google.com Hougang’s private properties hotting up http://www.developerlaunch.com/hougangs-private-properties-hotting-up/#utm_source=rss&utm_medium=rss&utm_campaign=hougangs-private-properties-hotting-up http://www.developerlaunch.com/hougangs-private-properties-hotting-up/#comments Sun, 19 May 2013 16:00:00 +0000 developerlaunch168@gmail.com http://www.developerlaunch.com/?guid=24b9f98a17febb36f5946796e2c44a0e Shabnam Muzammil:

The mature estate of Hougang is moving away from being a mainly public housing enclave with the recent launch of new private housing developments, reported The Straits Times.

According to experts, 2,319 new homes will be added to the 12,457 private properties and 496 executive condominium (EC) units there and will come from new projects such as Riversails (pictured), Boathouse Residences, Parc Vera and Heron Bay among others.

Ong Teck Hui, Research Director at Jones Lang LaSalle (JLL) Singapore noted that the supply of new private homes has “widened the choice for buyers interested in this part of Hougang”.

“Prices of new condominiums in this area average around S$840 to S$920 psf which is a manageable entry-level pricing for private homes.”

Chia Siew Chuin, Research and Advisory Head at Colliers International, said that resale non-landed private homes account for 54 to 64 percent of all resale transactions in the area, while prices range from S$835 to S$1,000 psf.

Meanwhile, Ong Kah Seng, Director at R'ST Research, said many HDB residents are looking to upgrade “so private homes in Hougang at suitable prices will appeal to residents looking to upgrade in the same location”.



Shabnam Muzammil, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email shabnam@allproperty.com.sg



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]]> http://www.developerlaunch.com/hougangs-private-properties-hotting-up/feed/ 0 cleanPropertyGuru.com.sg By Shabnam Muzammil:The mature estate of Hougang is moving away from being a mainly public housing enclave with the recent launch of new private housing developments, reported The Straits Times.According to experts, 2,319 new homes ...PropertyGuru.com.sg By Shabnam Muzammil:The mature estate of Hougang is moving away from being a mainly public housing enclave with the recent launch of new private housing developments, reported The Straits Times.According to experts, 2,319 new homes ...Singapore,new,launch,new,property,proeprty,direct,from,developer Hougang oddity still unsold after 11 years http://www.developerlaunch.com/hougang-oddity-still-unsold-after-11-years/#utm_source=rss&utm_medium=rss&utm_campaign=hougang-oddity-still-unsold-after-11-years http://www.developerlaunch.com/hougang-oddity-still-unsold-after-11-years/#comments Sun, 19 May 2013 16:00:00 +0000 developerlaunch168@gmail.com http://www.developerlaunch.com/?guid=8cde46cc9f689f0dd97bed0e181cbb3c Nikki De Guzman:

A three-storey corner terrace house (pictured) on a unique wedge-shaped site in Hougang is up for sale below the valuation price, reported The Straits Times.
 
Offered on a 99-year lease and completed in 2002, the 6,813 sq ft property has remained unsold for the last 11 years due mainly to its odd shape. Aside from the land parcel, the rooms are also irregularly shaped.  
 
The report added that one section of the house faces Hougang Avenue 2 with a catchment drain flanking the other side. A nearby overhead bridge looks directly into the second floor of the property.
 
Owned by YHS Hougang, a unit of Far East Organization, the house is part of Henley Gardens, a 36-unit terrace house project at Jalan Arif.
 
Last weekend, a swarm of property agents were at the site, with many carrying placards showing a price of S$470 psf.



Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@allproperty.com.sg



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]]> http://www.developerlaunch.com/hougang-oddity-still-unsold-after-11-years/feed/ 0 cleanPropertyGuru.com.sg By Nikki De Guzman:A three-storey corner terrace house (pictured) on a unique wedge-shaped site in Hougang is up for sale below the valuation price, reported The Straits Times. Offered on a 99-year lease and completed in 2002, ...PropertyGuru.com.sg By Nikki De Guzman:A three-storey corner terrace house (pictured) on a unique wedge-shaped site in Hougang is up for sale below the valuation price, reported The Straits Times. Offered on a 99-year lease and completed in 2002, ...Singapore,new,launch,new,property,proeprty,direct,from,developer Marina Bay to get a lot livelier http://www.developerlaunch.com/marina-bay-to-get-a-lot-livelier-2/#utm_source=rss&utm_medium=rss&utm_campaign=marina-bay-to-get-a-lot-livelier-2 http://www.developerlaunch.com/marina-bay-to-get-a-lot-livelier-2/#comments Thu, 16 May 2013 16:00:00 +0000 developerlaunch168@gmail.com https://www.developerlaunch.com/?guid=ee9d62350a808b824c536b9f2b162a36 Romesh Navaratnarajah:

Following the grand opening of Marina Bay Financial Centre (MBFC) on Wednesday, the Marina Bay area is set to get more homes, offices and shops in the next few years, noted analysts. Several land parcels in the area have also not been developed yet.

MBFC has also established a new standard for green buildings and boosted the supply of prime office space in the CBD by three million sq ft. With its high-end apartments and restaurants, the integrated development also provides a unique environment for working, living and leisure, said Prime Minister Lee Hsien Loong.

Other upcoming projects include the 221-unit Marina Bay Suites condo (pictured) which is due to be completed this year and Marina One – a mixed development by Temasek Holdings and Khazanah Nasional that is expected to be ready by 2017.

These and other projects will further liven up Marina Bay, said Moray Armstrong, Executive Director, Office Services at CBRE.  

“The future success of commercial development in Marina Bay looks assured with impressive upcoming developments such as Asia Square's Tower 2, which incorporates the Westin Hotel, V on Shenton scheduled to be completed in mid-2016 and Marina One.”

“At around 1.8 million sq ft, the latter project represents the largest office development currently being undertaken in the city,” he noted, adding that the new offices are not just big, but have also set a new benchmark in the market.  

However, “there is still a white site in the area that is available for development”, said Knight Frank’s Senior Manager, Consultancy and Research, Alice Tan.

“All these new land plots will slowly morph the area, so that in the long term, the whole Central Business District can be further expanded, complementing the future Tanjong Pagar waterfront city.”  



Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg



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]]> http://www.developerlaunch.com/marina-bay-to-get-a-lot-livelier-2/feed/ 0 cleanPropertyGuru.com.sg By Romesh Navaratnarajah:Following the grand opening of Marina Bay Financial Centre (MBFC) on Wednesday, the Marina Bay area is set to get more homes, offices and shops in the next few years, noted analysts. Several land parcels in ...PropertyGuru.com.sg By Romesh Navaratnarajah:Following the grand opening of Marina Bay Financial Centre (MBFC) on Wednesday, the Marina Bay area is set to get more homes, offices and shops in the next few years, noted analysts. Several land parcels in ...Singapore,new,launch,new,property,proeprty,direct,from,developer Still no confirmed buyer for $300m bungalow http://www.developerlaunch.com/still-no-confirmed-buyer-for-300m-bungalow-2/#utm_source=rss&utm_medium=rss&utm_campaign=still-no-confirmed-buyer-for-300m-bungalow-2 http://www.developerlaunch.com/still-no-confirmed-buyer-for-300m-bungalow-2/#comments Thu, 16 May 2013 16:00:00 +0000 developerlaunch168@gmail.com https://www.developerlaunch.com/?guid=8f4d736b0d605b470055347219f86cba Romesh Navaratnarajah:

The tender for the S$300 million bungalow (pictured) at 33 Nassim Road closed yesterday with no confirmation on a buyer, reported The Straits Times.

Karamjit Singh, Head of Investments and Residential at Jones Lang LaSalle, said that bids were received but declined to give details.

According to market watchers, a negotiation is likely to take place before the final offer is confirmed due to the high price.

With a land area of 85,000 sq ft, the site houses a two-storey bungalow, tennis court and swimming pool. Cheng Wai Keung, the seller and chairman of Wing Tai Holdings, was expecting bids of between S$250 million and S$300 million, or S$2,947 to S$3,536 psf.

This price would surpass the earlier records set by a Leedon Park property sold for S$2,110 psf and a home sold at Nassim Road for S$2,000 psf.

With its eye-popping price tag, some experts are doubtful whether the property will find a buyer.

“Potential buyers could afford large mansions in many other cosmopolitan and global cities like London or New York. Why would they choose to pay such a premium here?” said one analyst who declined to be named.



Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg



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]]> http://www.developerlaunch.com/still-no-confirmed-buyer-for-300m-bungalow-2/feed/ 0 cleanPropertyGuru.com.sg By Romesh Navaratnarajah:The tender for the S$300 million bungalow (pictured) at 33 Nassim Road closed yesterday with no confirmation on a buyer, reported The Straits Times.Karamjit Singh, Head of Investments and Residential at Jone...PropertyGuru.com.sg By Romesh Navaratnarajah:The tender for the S$300 million bungalow (pictured) at 33 Nassim Road closed yesterday with no confirmation on a buyer, reported The Straits Times.Karamjit Singh, Head of Investments and Residential at Jone...Singapore,new,launch,new,property,proeprty,direct,from,developer Marina Bay to get a lot livelier http://www.developerlaunch.com/marina-bay-to-get-a-lot-livelier/#utm_source=rss&utm_medium=rss&utm_campaign=marina-bay-to-get-a-lot-livelier http://www.developerlaunch.com/marina-bay-to-get-a-lot-livelier/#comments Thu, 16 May 2013 16:00:00 +0000 developerlaunch168@gmail.com http://www.developerlaunch.com/?guid=ee9d62350a808b824c536b9f2b162a36 Romesh Navaratnarajah:

Following the grand opening of Marina Bay Financial Centre (MBFC) on Wednesday, the Marina Bay area is set to get more homes, offices and shops in the next few years, noted analysts. Several land parcels in the area have also not been developed yet.

MBFC has also established a new standard for green buildings and boosted the supply of prime office space in the CBD by three million sq ft. With its high-end apartments and restaurants, the integrated development also provides a unique environment for working, living and leisure, said Prime Minister Lee Hsien Loong.

Other upcoming projects include the 221-unit Marina Bay Suites condo (pictured) which is due to be completed this year and Marina One – a mixed development by Temasek Holdings and Khazanah Nasional that is expected to be ready by 2017.

These and other projects will further liven up Marina Bay, said Moray Armstrong, Executive Director, Office Services at CBRE.  

“The future success of commercial development in Marina Bay looks assured with impressive upcoming developments such as Asia Square's Tower 2, which incorporates the Westin Hotel, V on Shenton scheduled to be completed in mid-2016 and Marina One.”

“At around 1.8 million sq ft, the latter project represents the largest office development currently being undertaken in the city,” he noted, adding that the new offices are not just big, but have also set a new benchmark in the market.  

However, “there is still a white site in the area that is available for development”, said Knight Frank’s Senior Manager, Consultancy and Research, Alice Tan.

“All these new land plots will slowly morph the area, so that in the long term, the whole Central Business District can be further expanded, complementing the future Tanjong Pagar waterfront city.”  



Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg



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]]> http://www.developerlaunch.com/marina-bay-to-get-a-lot-livelier/feed/ 0 cleanPropertyGuru.com.sg By Romesh Navaratnarajah:Following the grand opening of Marina Bay Financial Centre (MBFC) on Wednesday, the Marina Bay area is set to get more homes, offices and shops in the next few years, noted analysts. Several land parcels in ...PropertyGuru.com.sg By Romesh Navaratnarajah:Following the grand opening of Marina Bay Financial Centre (MBFC) on Wednesday, the Marina Bay area is set to get more homes, offices and shops in the next few years, noted analysts. Several land parcels in ...Singapore,new,launch,new,property,proeprty,direct,from,developer Still no confirmed buyer for $300m bungalow http://www.developerlaunch.com/still-no-confirmed-buyer-for-300m-bungalow/#utm_source=rss&utm_medium=rss&utm_campaign=still-no-confirmed-buyer-for-300m-bungalow http://www.developerlaunch.com/still-no-confirmed-buyer-for-300m-bungalow/#comments Thu, 16 May 2013 16:00:00 +0000 developerlaunch168@gmail.com http://www.developerlaunch.com/?guid=8f4d736b0d605b470055347219f86cba Romesh Navaratnarajah:

The tender for the S$300 million bungalow (pictured) at 33 Nassim Road closed yesterday with no confirmation on a buyer, reported The Straits Times.

Karamjit Singh, Head of Investments and Residential at Jones Lang LaSalle, said that bids were received but declined to give details.

According to market watchers, a negotiation is likely to take place before the final offer is confirmed due to the high price.

With a land area of 85,000 sq ft, the site houses a two-storey bungalow, tennis court and swimming pool. Cheng Wai Keung, the seller and chairman of Wing Tai Holdings, was expecting bids of between S$250 million and S$300 million, or S$2,947 to S$3,536 psf.

This price would surpass the earlier records set by a Leedon Park property sold for S$2,110 psf and a home sold at Nassim Road for S$2,000 psf.

With its eye-popping price tag, some experts are doubtful whether the property will find a buyer.

“Potential buyers could afford large mansions in many other cosmopolitan and global cities like London or New York. Why would they choose to pay such a premium here?” said one analyst who declined to be named.



Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg



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]]> http://www.developerlaunch.com/still-no-confirmed-buyer-for-300m-bungalow/feed/ 0 cleanPropertyGuru.com.sg By Romesh Navaratnarajah:The tender for the S$300 million bungalow (pictured) at 33 Nassim Road closed yesterday with no confirmation on a buyer, reported The Straits Times.Karamjit Singh, Head of Investments and Residential at Jone...PropertyGuru.com.sg By Romesh Navaratnarajah:The tender for the S$300 million bungalow (pictured) at 33 Nassim Road closed yesterday with no confirmation on a buyer, reported The Straits Times.Karamjit Singh, Head of Investments and Residential at Jone...Singapore,new,launch,new,property,proeprty,direct,from,developer Foreign demand for S’pore homes falls to lowest since global financial crisis http://www.developerlaunch.com/foreign-demand-for-spore-homes-falls-to-lowest-since-global-financial-crisis/#utm_source=rss&utm_medium=rss&utm_campaign=foreign-demand-for-spore-homes-falls-to-lowest-since-global-financial-crisis http://www.developerlaunch.com/foreign-demand-for-spore-homes-falls-to-lowest-since-global-financial-crisis/#comments Wed, 15 May 2013 16:00:00 +0000 developerlaunch168@gmail.com http://www.developerlaunch.com/?guid=72261d59b223af747542e128082aa293 Romesh Navaratnarajah:

The drop in private home sales in Q1 2013 was a result of the tough property cooling measures introduced in January, according to Jones Lang LaSalle.

Resale transactions of condominiums in prime districts 9, 10 and 11 declined 61 percent to 144 units during the period. Notably, foreign buyers registered the lowest level of demand since the global financial crisis. While Singaporeans had previously come to the market’s rescue, they now seem to be stepping away due to downside risks, noted the consultancy.  

Supply also fell 29 percent last quarter, based on data from the Building and Construction Authority (BCA).

The latest measures have caused growth in capital values to decline greatly in the luxury prime market and only slightly in the typical prime market. Budget 2013 also mentioned higher taxes on luxury property “that will come into effect in 2014 and 2015, and this might have been priced into the first quarter’s weak capital value growth”.

Moving forward, Jones Lang LaSalle predicts that Singapore’s central bank may introduce stricter rules on the amount of capital banks must hold against residential mortgages. This would in turn “tighten the availability of credit and limit home price growth”.

Local and foreign home buying in the prime market is also expected to decline further following the seventh round of cooling measures and new property tax measures. Consequently, capital values of prime properties would fall by three to five percent in the next 12 months.



Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg



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]]> http://www.developerlaunch.com/foreign-demand-for-spore-homes-falls-to-lowest-since-global-financial-crisis/feed/ 0 cleanPropertyGuru.com.sg By Romesh Navaratnarajah:The drop in private home sales in Q1 2013 was a result of the tough property cooling measures introduced in January, according to Jones Lang LaSalle.Resale transactions of condominiums in prime districts 9, ...PropertyGuru.com.sg By Romesh Navaratnarajah:The drop in private home sales in Q1 2013 was a result of the tough property cooling measures introduced in January, according to Jones Lang LaSalle.Resale transactions of condominiums in prime districts 9, ...Singapore,new,launch,new,property,proeprty,direct,from,developer MBFC devt sees grand opening http://www.developerlaunch.com/mbfc-devt-sees-grand-opening/#utm_source=rss&utm_medium=rss&utm_campaign=mbfc-devt-sees-grand-opening http://www.developerlaunch.com/mbfc-devt-sees-grand-opening/#comments Wed, 15 May 2013 16:00:00 +0000 developerlaunch168@gmail.com http://www.developerlaunch.com/?guid=e29dc7e18eaf7532fdee0f31c3a66981 Romesh Navaratnarajah:

Marina Bay Financial Centre (MBFC), the largest integrated development in Singapore’s CBD was officially opened by Prime Minister Lee Hsien Loong on Wednesday.

MBFC comprises three office towers of nearly three million sq ft of prime Grade A office space. There are also two residential towers with 649 luxury apartments and 179,000 sq ft of retail space.

Towers 1 & 2 and Marina Bay Link Mall are now fully occupied, while Tower 3 has achieved an occupancy rate of 88 percent.

Commenting on the development, Moray Armstrong, Executive Director for Office Services at CBRE, said: “The office towers at MBFC are synonymous with Singapore’s emergence as a truly global financial and business hub. The development name and brand is recognised internationally and MBFC resonates with multinational occupiers. The residential units have set the benchmark for inner city living.”

Aside from the physical transformation, MBFC has also set the bar high for future office buildings in the city.

“MBFC benefits from size - with over 3 million sq ft of commercial space it is the largest office development in the city. This offers scalability for many large occupiers who might otherwise be constrained in accommodating growth. The project’s phenomenal leasing success and the strength of the tenants’ profile demonstrates this appeal,” Armstrong added.

Image: Marina Bay Financial Centre



Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg



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]]> http://www.developerlaunch.com/mbfc-devt-sees-grand-opening/feed/ 0 cleanPropertyGuru.com.sg By Romesh Navaratnarajah:Marina Bay Financial Centre (MBFC), the largest integrated development in Singapore’s CBD was officially opened by Prime Minister Lee Hsien Loong on Wednesday.MBFC comprises three office towers of near...PropertyGuru.com.sg By Romesh Navaratnarajah:Marina Bay Financial Centre (MBFC), the largest integrated development in Singapore’s CBD was officially opened by Prime Minister Lee Hsien Loong on Wednesday.MBFC comprises three office towers of near...Singapore,new,launch,new,property,proeprty,direct,from,developer Drastic drop in April new home sales http://www.developerlaunch.com/drastic-drop-in-april-new-home-sales-3/#utm_source=rss&utm_medium=rss&utm_campaign=drastic-drop-in-april-new-home-sales-3 http://www.developerlaunch.com/drastic-drop-in-april-new-home-sales-3/#comments Tue, 14 May 2013 16:00:00 +0000 developerlaunch168@gmail.com https://www.developerlaunch.com/?guid=06f462c63039eccefc38b42998602cd5 Romesh Navaratnarajah:

New private home sales for April 2013 dropped more than 50 percent from the previous month to reach 1,375 units, according to data released by the Urban Redevelopment Authority (URA).

Year-on-year, this is a 45 percent decline. Including executive condominiums (ECs), home sales during the month hit 1,547 units.

Meanwhile, developers launched 1,158 units last month compared to the previous figure of 3,489.

The three top-selling projects in April included Bartley Ridge, which sold 154 units at a median price of S$1,278 psf. This was followed by the newly launched Sant Ritz in Upper Serangoon, where 104 units were sold out of the 176 launched at a median price of S$1,494 psf. D’Nest in Pasir Ris Grove sold 92 units in the month at a median price of S$959 psf.



Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg



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]]> http://www.developerlaunch.com/drastic-drop-in-april-new-home-sales-3/feed/ 0 cleanPropertyGuru.com.sg By Romesh Navaratnarajah:New private home sales for April 2013 dropped more than 50 percent from the previous month to reach 1,375 units, according to data released by the Urban Redevelopment Authority (URA).Year-on-year, this is a ...PropertyGuru.com.sg By Romesh Navaratnarajah:New private home sales for April 2013 dropped more than 50 percent from the previous month to reach 1,375 units, according to data released by the Urban Redevelopment Authority (URA).Year-on-year, this is a ...Singapore,new,launch,new,property,proeprty,direct,from,developer Govt releases 5 more sites for sale in May http://www.developerlaunch.com/govt-releases-5-more-sites-for-sale-in-may-2/#utm_source=rss&utm_medium=rss&utm_campaign=govt-releases-5-more-sites-for-sale-in-may-2 http://www.developerlaunch.com/govt-releases-5-more-sites-for-sale-in-may-2/#comments Tue, 14 May 2013 16:00:00 +0000 developerlaunch168@gmail.com http://www.developerlaunch.com/?guid=3f9100e7e1ed6029b7ee424312207f9a Romesh Navaratnarajah:

The URA and HDB will release five residential sites this month under the Government Land Sales (GLS) Programme for the first half of 2013.

Offered on 99-year leases, the sites will yield around 2,725 housing units providing more options for developers and home buyers.

Launched for sale today under the confirmed list, a 184,094 sq ft site at Tampines Avenue 10 (Parcel B) (pictured) is expected to yield about 530 units. The tender for the site will close on 2 July.

The remaining four land parcels are under the reserve list. One site at Toa Payoh Lorong 6 has a land area of 130,835 sq ft while a plot at Prince Charles Crescent (Parcel B) has an area of 268,709 sq ft. The other two sites at Siglap Road and Geylang East Avenue 1 are 210,494 and 67,147 sq ft in size respectively.



Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg




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]]> http://www.developerlaunch.com/govt-releases-5-more-sites-for-sale-in-may-2/feed/ 0 cleanPropertyGuru.com.sg By Romesh Navaratnarajah:The URA and HDB will release five residential sites this month under the Government Land Sales (GLS) Programme for the first half of 2013.Offered on 99-year leases, the sites will yield around 2,725 housing ...PropertyGuru.com.sg By Romesh Navaratnarajah:The URA and HDB will release five residential sites this month under the Government Land Sales (GLS) Programme for the first half of 2013.Offered on 99-year leases, the sites will yield around 2,725 housing ...Singapore,new,launch,new,property,proeprty,direct,from,developer Drastic drop in April new home sales http://www.developerlaunch.com/drastic-drop-in-april-new-home-sales-2/#utm_source=rss&utm_medium=rss&utm_campaign=drastic-drop-in-april-new-home-sales-2 http://www.developerlaunch.com/drastic-drop-in-april-new-home-sales-2/#comments Tue, 14 May 2013 16:00:00 +0000 developerlaunch168@gmail.com http://www.developerlaunch.com/?guid=06f462c63039eccefc38b42998602cd5 Romesh Navaratnarajah:

New private home sales for April 2013 dropped more than 50 percent from the previous month to reach 1,375 units, according to data released by the Urban Redevelopment Authority (URA).

Year-on-year, this is a 45 percent decline. Including executive condominiums (ECs), home sales during the month hit 1,547 units.

Meanwhile, developers launched 1,158 units last month compared to the previous figure of 3,489.

The three top-selling projects in April included Bartley Ridge, which sold 154 units at a median price of S$1,278 psf. This was followed by the newly launched Sant Ritz in Upper Serangoon, where 104 units were sold out of the 176 launched at a median price of S$1,494 psf. D’Nest in Pasir Ris Grove sold 92 units in the month at a median price of S$959 psf.



Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg



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]]> http://www.developerlaunch.com/drastic-drop-in-april-new-home-sales-2/feed/ 0 cleanPropertyGuru.com.sg By Romesh Navaratnarajah:New private home sales for April 2013 dropped more than 50 percent from the previous month to reach 1,375 units, according to data released by the Urban Redevelopment Authority (URA).Year-on-year, this is a ...PropertyGuru.com.sg By Romesh Navaratnarajah:New private home sales for April 2013 dropped more than 50 percent from the previous month to reach 1,375 units, according to data released by the Urban Redevelopment Authority (URA).Year-on-year, this is a ...Singapore,new,launch,new,property,proeprty,direct,from,developer S’pore housing heading for a downturn, says developer http://www.developerlaunch.com/spore-housing-heading-for-a-downturn-says-developer/#utm_source=rss&utm_medium=rss&utm_campaign=spore-housing-heading-for-a-downturn-says-developer http://www.developerlaunch.com/spore-housing-heading-for-a-downturn-says-developer/#comments Tue, 14 May 2013 16:00:00 +0000 developerlaunch168@gmail.com https://www.developerlaunch.com/?guid=0bd0052f732578263d760624b16a8d42 Romesh Navaratnarajah:

With a surge of new homes coming on to the market, Singapore’s housing sector will soon become a buyer’s market as developers continue to provide attractive incentives, according to experts.

Chris Comer, CEO of Castlewood Group, the developer of Nikki Beach properties around Asia, said: “It’s going to be a renters’ market here for a very long time.”

In a Wall Street Journal report, Singapore resident Comer reckoned that a downturn could hit Singapore in the next 12 months, and “you’ll start to see properties resold for less than they paid for them”.

Other analysts do not see a bubble, but have warned of an oversupply instead, which will likely cut prices and rents.

In an earlier report, Nomura said that 16,000 new private homes would be delivered in the next three quarters compared with 2,408 in Q1.

“Supply is likely to outstrip demand and vacancy (and rents) will likely come under more pressure in the coming quarters.”

Concurring, Daiwa analyst David Lum acknowledged the possibility of a supply glut, highlighting that some 86,000 private homes were in the pipeline by end-2012. This is in addition to the influx of HDB flats set to enter the market between 2014 to 2016.

He added that this would lead to an 18 percent decline in mass market home prices and 20 percent in the luxury segment through to end-2015.



Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg



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