The up and coming Seaside Residences by Frasers Centrepoint Singapore

The upcoming condominium at Siglap Road Singapore, a 99-year leasehold Seaside Residences is taking the area by storm. This is a project by the Frasers Centrepoint Singapore. It will offer residents an access to the area’s best facilities as it is near the East Coast Park (ECP) and popular roads such as Siglap Road and Marine Parade.

It aims to offer residents a supreme living experience unlike anything else within the area. The developer is known for their high-quality work in Singapore and throughout Asia. This project is expected to produce at least 843 units for future residents.

Facing the beautiful coast, these modern dwellings were created to dazzle and impress both residents and onlookers. This project also offers families options of 1- to 4-bedroom units. This will be a great spot for people seeking modern and functional designs to raise a family. It will provide a quality community feel and a home that can finally be a retreat for those who choose to invest in this development.

Future residents will also have the chance to experience all the exclusive amenities that are offered alongside these accommodations. Amenities include are the BBQ spot, courtyard, club house, cabana, 50m lap pool, wading pool, Jacuzzi, and many other features. The facilities at this residence allow them to feel like they’re on vacation every day.

For families that are just moving in, they will have a lot of educational options to choose from within the area. They will also have an easy accessibility to many public transportation lines and expressways. Residents will not have to worry about finding things to do locally from the supermarkets, dining areas and shops that are within the area.

This upcoming Frasers Centrepoint’s project will definitely make a splash for the residents of Singapore. With affordable pricing and excellent amenities, it should be no surprise that these are exciting everyone. Visit the Seaside Residences website now or call us at +65 6100 0135 for more info.

One-tier prices from EL Development

To lure early-bird buyers, the developer of Parc Riviera (El Development) is taking a novel one-tier pricing approach. They are offering units of the same type from the second to the 15th levels for the same price. For example, a 603 sq ft two-bedroom flat will still be priced at $725,000 whether it is on the second or 15th level or anywhere in between.

Most of the developers charge higher prices for flats on higher floors because higher flats have magnificent views from the top. Flats will be priced the same between the second and 15th floors, while flats higher up the two towers of 36 storeys at Parc Riviera will be offered at higher prices.

EL Development’s managing director, Mr. Lim Yew Soon, said that he came up with that strategy because he wants early buyers to enjoy the maximum benefits.

He also stated that this approach was “a bit old-fashioned” and clichéd. “We are telling people that the price starts from $550,000 for the one-bedroom (unit). We feel that $550,000 is an attractive price, even at the lower levels. But now that we have extended the price to 15 floors, it will be even more attractive,” he added, telling that this might get buyers to come earlier.

This one-tier pricing scheme was on sale last November at the condominium’s soft launch.

Big bookings for Forest Woods residence

Forest Woods is located in Lorong Lew Lian and is being developed by the CDL (City Developments), Hong Leong Holdings and TID. Unit sizes at Forest Woods range from 506 sq ft for a one-bedroom with study to 2,185 sq ft for the largest penthouse. CDL said that of the three penthouses available, one was sold at $2.85 million.

Home buyers showed up at the Forest Woods show-flat last October with discounts ranging from $6,000 and $12,000, snapping up 65%of units available at the newly launched project. According to CDL, 337 out of 519 units at the project were sold as at 5pm October 9. They also said that all unit types enjoyed a good take-up rate, with all of the 1-bedroom with study units and two-bedroom units are selling out. A CDL group general manager, Mr. Chia Ngiang Hong said in a statement: “Units sold have achieved an average pricing of $1,400 per square foot (psf) on its first weekend launch.”

Forest Woods is about five minutes from Serangoon MRT station and NEX shopping mall. This property is expected to be completed in 2021. According to CDL, 88% of the buyers were Singaporeans, while the remaining percent were permanent residents and foreigners from China, Indonesia, Malaysia, Switzerland, Taiwan and Vietnam.

Mr. Yeo bought a 3-bedroom premium unit for $1.36 million and said: “Prices have been falling for quite some time… I don’t think it will fall that much more.”

Analysts said that this property’s location and its developer’s reputation played a part in attracting buyers. The Century 21 Singapore chief executive said that the developer also managed to keep the price quantum for many units well below the $1 million mark.

Knight Frank Singapore research head also noted: “There is still pent-up demand… but buyers remain very discerning, and they want a good deal in terms of location and price.”

Deferred payments for OUE Twin Peaks

OUE is offering potential buyers a form of deferred payments in a bid to sell off remaining units at its Twin Peaks as the market struggles with plenty of unsold stock.

Deferred payment schemes (DPS) were very popular back in 2002 to 2006 but were abolished in 2007 for uncompleted private homes. Developers cannot offer similar payment plans if their projects are still uncompleted.

OUE has obtained its certificate of statutory completion for the project so it is no longer under the Housing Developers Rules. This rule involves strict progress payment rules.

This 462-unit development was completed in February last year. Around 80 units have been sold at one tower with OUE plans to bulk-sell units at the other tower.

Under the second variation, buyers make a 20% down payment and sign the sale and purchase the agreement so they can collect the keys to their new home. The remaining 80% shall pay two or three years later.

There is also a catch – OUE prices in a premium. For example, a 4th floor unit under the DPS appears to go at about 9% more than if it were sold without the scheme, based on approximations from recent transactions.

This could actually still make sense for investors, according to Mr Alan Cheong, a Savills Singapore research head. Assuming interest savings of 2$ annually for three years and net rental yield of about 2% per annum as well, the net gain will be about 12%.

OUE Twin Peaks is believed to be the first instance in recent years where a DPS has been made available. DPS has proven successful in the past. There was a success launch at the MCL Land-Ho Bee and more than 150 homes were sold within weeks of its relaunch with DPS incentive in last 2002.

“Developers who do well are those who are innovative and are able to offer sustainable sale options which respond to current market requirements”, an executive director and head of corporate real estate at TSMP Law Corporation, Ms Jennifer Chia, said.

Marina One Residences has saved the sales of its developers

Developers may have sold more units in October than in September last 2014, but Marina One did differently

According to data released by Urban Redevelopment Authority, they sold 7605 private residences last October 2014, 18% higher than the units sold in September. But Marina One Residences alone sold 334 of its total 400 launched units.

A SLP International executive director, Nicholas Mak, stated: “If Marina One Residences was taken out of the equation, the sales volume in October would be the lowest for the whole of 2014… Other than Marina

One Residences, the sales in the other top sellers were all less than 50 units each in October. Therefore, there is still a long way to go for the local real estate market before a firm and steady recovery is in sight.”

Year-over-year, sales have fallen 31% from 1,104 units sold in October last year. These exclude executive condos (ECs), but if these are included, developers will sold 855 units in October, above 707 units in September.

Marina One Residences is a mixed-use project by Temasek Holdings and Khazanah Nasional. Its units were sold at a price of S$2,228 psf in October. The consultants credited its appeal to its attractive pricing, proximity to MRT stations, and prime inner city location. It was also the only new residential project launch in October.

Out of the 334 units were sold, more than 300 units were bought through private sales, rather than a public launch.

A chief executive of PropNex, Mohamed Ismail, said: “Buying demand was not totally absent in the market, but it had to be drawn out by attractive pricing,”

Ong Teck Hui, anational research director at JLL, said: “The lack of new launches in October, despite this period being considered a window of opportunity to secure some sales (before the year-end festivities begin), shows that developers are not confident that there is sufficient demand to achieve a decent take-up… Due to the challenging market conditions, developers seem to prefer to let the year slip by and tackle the challenges afresh in 2015. It is unlikely that the market will see any significant resurgence in launches and sales for the rest of 2014, and it looks set to close as the most dismal year since 2008 when the market was hit by the global financial crisis.”

Proposed residential project revealed for Paya Lebar

As part of the plan to transform the Paya Lebar Quarter into a regional hub, this 3.2 billion Singaporean dollar mixed-use project comprises residential, office, retail and commercial spaces will be built by the reputable developer, Lendlease. This was announced on Monday October 17.

This Paya Lebar Quarter is a 3.9-hectare mixed development will be strategically located on top of the Paya Lebar MRT station. This will include a 340,000-sqft shopping mall with Kopitiam and FairPrice Finest as its anchor tenants.

The three Grade A office towers will provide about 1 million square feet of office space. Other than a cycling path, great facilities such as bicycle storage, showers, and lockers for tenants will also be included, in line with Singapore’s vision and hope to be a car-lite city, according to Lendlease.

The residential part of this land parcel, which will be called the Park Place Residence, was scheduled to launch next year and this will consist of three towers with 429 apartment units that range from 1- to 3-bedroom units.

Paya Lebar Quarter will be completed in phases. The residential part of this development is expected to be completed in the first half year of 2019, while the remaining commercial and retail part will be in the second half of 2018.

Cairnhill Nine launched with a strong interest

The priciest units at a residential launch of Cairnhill Nine have been pre-booked while the other units are attracting strong interest from buyers and investors.

About four of this development’s 8 penthouses are booked at prices of $5.8 million to $6.8 million. This consists of 2 duplex and 2 single-storey units.

This property is a 99-year leasehold project with 268 units was about 60% booked ahead before its official sales launch last March 12, 2016.

CapitaLand considered raising indicative prices that were about an average of $2,500 per square foot (psf). This translates that the starting prices of $1.35 million for a 592 sq ft 1-bedroom unit and $3.68 million for a 1,528 sq ft 4-bedroom unit.

Cairnhill Circle is two of twelve stacks at the project, are fully booked. The CapitaLand Singapore spokesman once said that it is premature to comment on the interest level collected during the VIP preview which started last February 27.

Interested buyers are from mainly Singaporeans that intend to occupy the unit or rent it out. There is also a strong foreigner interest especially most from Indonesians. According to CapitaLand, they planned to market the project in Hongkong and Indonesian cities such as of Solo and Surabaya.

For foreign investors or buyers, this project is considered the “dream location” especially from Indonesians given its proximity to the Orchard Road and to Paragon according to Edward Yap.

According to another real-estate agent, the strong demand so far could be due to the fact that there have not been any good launches along Orchard Road in the past 2 to 3 years because of all the cooling measures including the 15% Additional Buyer’s Stamp Duty for foreigners and that investors are given only one shot and they want to get the best.

GuocoLand overpaid a Martin Place site?

The residential site that GuocoLand secured at a state tender along Martin Place has key attributes that are a strong factor for any developer who’s planning a condo project.

But the winning bid of 595.1 million Singaporean dollars for a 1.6-hectare site was said to be overpaid. It translates to 1,239 Singaporean dollars psf ppr (per square foot per plot ratio); the highest unit land price for a residential site sold at a public tender since 2009.

The site can hold up to 450 residential units. It is situated at the corner of Martin Place and River Valley Close in District 9.

The site has a strategic location as it will only be a short walk to the future Great World MRT Station at the Thomson East Coast Line; one stop from the Orchard Station and five stops from Marina Bay Station.

However, this site will appeal to families that are seeking for schools for their children as it isn’t far from the popular River Valley Primary School. A part of this site has a 20-storey height restriction, while the rest of it can build up to 30-storey high.

They based those estimates from the sale evidence this year at Martin Place Residences and the Rivergate; the two freehold developments nearby, and also from the 99-year leasehold project at the Orchard Road shopping belt, Cairnhill Nine, that was sold last March faster than they expected.

URA (Urban Redevelopment Authority) specified a maximum 450 units for this site which will make the average unit size in GuocoLand’s project will be 1,067 square feet. This is smaller than the average unit sizes that have changed hands from both Martin Place Residences and Rivergate this year.

Why DUO Residences?

DUO Residences Building

If you’re looking for a residence that isn’t far from business centers or if you want a new department for your employees that are more convenient for their transportation, DUO Residences is certainly what you’ve been looking for.

It has an utmost strategic public transportation for commuter residents. It has approximately 0.2km far from the Bugis MRT Station and 0.38km from DT14 Bugis MRT Station. It is only a 5 minute drive away to the CBD (Central Business District). Nearby amenities such as childcare centers, shopping malls and schools will help the residents on how to reach the destination in the more comfortable way. These will meet all of your high standards for an office and convenience for a transport.

It is a mixed-purpose development that comprises integrated facilities with 660 luxurious units, a 21 storey of grade A office spaces, and five-star hotel rooms.

It is a gorgeously designed development. It took DUO Residences to win the “Best Futura Project’ at the MIPIM Asia Awards 2012 from its magnificent design and endless convenience. Who wouldn’t want to work in a world class designed office such as this one?

This development has international buyers. Investors wouldn’t ignore that some buyers are form the neighborhood of South East Asia and East West Asia like Indonesians, Malaysians and Chinese. It will help you gain more experience in working with internationals, as well as spreading your brand outward the country and reaching into a new market.

This development will not only offer you a place to live but also a place to enjoy with your family and friends.