Tag Archives: Jurong

When will the dropping stop?

The median Cash-Over Value or COV paid for a Housing Board resale flat fell to zero in February 2014, down from $3,000 in January. This was the lowest median cash over valuation (COV) figure since SRX records began in 2006. It is also the first time COV hit zero since 2006.

About 37 per cent of deals, almost 4 in every 10 deals closed below valuation overall. In contrast, only 29.4 per cent of HDB resale deals closed below valuation during January 2014.   Resale prices fell by 1.8 per cent, which means that price level are now at same level as 20 months ago in June 2012. This was the sharpest month-on-month fall since prices started declining in April last year.And fewer flats changed hands.

COV map Mar 2014

Out of the 28 towns in Singapore.12 towns saw zero or negative median COV, an increase from 7 HDB towns in January.  Bukit Panjang, Punggol, Sembawang, Sengkang and Woodlands clocked negative overall median COVs recorded in February 2014 while Bedok, Bukit Batok, Choa Chu Kang, Geylang, Jurong West, Tampines and Yishun recorded zero overall median COV.

HDB transaction feb 2014 ( COV )

Year-on-year, resale volume dropped 6.3 per cent. According to flash estimates, 734 HDB flats were sold last month in the resale market, a 20 per cent month-on-month drop from the 918 units in January. Rental volume also dropped 13.7 per cent year-on-year. An estimated 1,118 HDB flats were rented in February, 25.3 per cent less than the 1,496 rental transactions in January. On a year-on-year basis, February’s rental volume posted a 11.9 per cent drop from 1,296 flats leased over the same month of last year. 

 

number of HDB transacted Jan Feb 2014

number of HDB Rental transacted Jan Feb 2014

source – Straits Time, SRX, CNA

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Good news or bad news?

Cash-over-valuation (COV) for Housing and Development Board (HDB) flats dropped $2,000 from December 2013to hit $3000 on Jan 2014 . The median COV of $3,000 is on par with the previous low in June 2009 during the Global Financial Crisis.

Eight out of 28 HDB towns recorded zero or negative median COV. Sengkang and Punggol led the drop with zero negative overall COVs, while Bishan, Geylang, Jurong West, Sembawang, Woodlands and Yishun recorded zero overall median COV.  We can see that sellers in traditional popular towns such as Bishan ( * Yes, BISHAN ) and geylang which is nearer to city are becoming more realistic now. *Refer to the diagram below

COV 2014 Jan Map

Almost 30% per cent of HDB resale deals were closed below valuation in Jan 2014, an increase from the 20.4 per cent that closed below valuation in December 2013.

Overall, HDB resale prices gained a  0.3 per cent in January 2014. On a year-on-year basis, January’s resale volume posted a 34.6 per cent drop from 1,365 flats sold over the same month of last year to 893 this year.

HDB median rents however are stable with median rents at S$2,300 in January, after two consecutive monthly drops in November and December 2013.

Source : Straits Time, SRX, HDB, CNA 

4 Industrial sites up for tender

JTC Corp and the Urban Redevelopment Authority yesterday released four sites with a total land area of 3.4 ha for sale under the Second Half 2013 Industrial Government Land Sales programme. – http://www.todayonline.com/

JTC LogoTwo sites in Tuas South, plots 4 and 28, have a 21-year 9-month tenure and a gross plot ratio of 1.0. They are zoned for Business-2 development. Under URA’s guideline, Business 2 or B2 development are areas used or intended to be used for industry, warehouse, utilities and telecommunication uses, whereby the business uses will imposed nuisance buffer more than 50m and within health and safety buffers. Special industries such as manufacture of industrial machinery, shipbuilding and repairing, may be allowed in selected areas subject to evaluation by the Competent Authority.

Tuas South Street 7 Plot 28 – 

Tuas South Street 7 Plot 28

PARTICULARS OF LAND PARCEL​ ​ ​
Location​ Tuas South Street 7 (Plot 28)
Site Area 5,047.4 sqm​
Lease Period 21 years 9 months
Allowable Development​+ B2
Permissible Gross Plot Ratio​​ 1.0​
Maximum Building Height​++​ 63.5m AMSL*​
Project Completion Period​+++​ 60 months​
Developer’s Packet^
Purchase Developer’s Packet at $107
(inclusive of GST)
Information Counter, The JTC Summit
Mon-Fri, 9am-12pm & 2pm-5.30pm
1. Location Plan
2. Control Plan
3. Topographical Plan
4. Cadastral Survey Plan
5. Soil Test Report
6. Conditions of Tender
7. Technical Conditions of Tender
8. Envelope Cover
Latest Amendments to Tender Documents​ Nil​
Specific Questions & Answers​ Nil​
Status Open for Tender
Date of Launch 29 August 2013
Date of  Tender Closing 10 October 2013

Tuas South Street 6 Plot 4 – 

TausSouthAve43-Y13-Plot23-Loc.jpg

PARTICULARS OF LAND PARCEL​ ​ ​
Location​ Tuas South Street 6 (Plot 4)
Site Area 3,036.7 sqm​
Lease Period 21 years 9 months
Allowable Development​+ B2
Permissible Gross Plot Ratio​​ 1.0​
Maximum Building Height​++​ 63.5m AMSL*​
Project Completion Period​+++​ 60 months​
Developer’s Packet^
Purchase Developer’s Packet at $107
(inclusive of GST)
Information Counter, The JTC Summit
Mon-Fri, 9am-12pm & 2pm-5.30pm
1. Location Plan
2. Control Plan
3. Topographical Plan
4. Cadastral Survey Plan
5. Soil Test Report
6. Conditions of Tender
7. Technical Conditions of Tender
8. Envelope Cover
Latest Amendments to Tender Documents​ Nil​
Specific Questions & Answers​ Nil​
Status Open for Tender
Date of Launch 29 August 2013
Date of  Tender Closing 10 October 2013

URA-logoThe two other plots in Gambas Crescent, parcel 1 and 2, have a 30-year tenure and a gross plot ratio of 2.5. They are zoned for Business-1 development. These are areas used or intended to be used for industry, warehouse, utilities and telecommunication uses for which the relevant authority (eg. NEA) does not impose a nuisance buffer greater than 50m.

This 2 B1 Site at Gambas Crescent is accessible for any consumer because it is near the Sembawang MRT Station and the Sembawang Bus Interchange. It is also located near residential sites which ensure that the future development at the land parcel will receive a steady flow of laborers. Note that it is also located very near to the upcoming EC launch at Sembawang, Skypark Residences.

Source – http://www.jtc.gov.sg/Sales-Rental/Government-Land-Sales-Programme/Pages/default.aspx

http://www.todayonline.com , http://www.channelnewsasia.com , http://www.ura.gov.sg/sales/GLS-URA.html

For industrial Properties for sale, please visit HERE

the 4 ‘A’ factors in buying properties.

Singaporeans are always looking for good buys. so as property buyers in Singapore.  So what factors arbitrate a good buy? Let’s study these factors.

The 4 “A” factors in choosing a good property whether it is for Residential, Commercial or Industrial, investment or own Stay are: Affordability.Accessibility.Amenities.Age. 

Affordability. 
affordabilityBuy what you can afford, so you won’t be forced to sell at the wrong time when you can’t hold. If the total quantum is low, risk will also be comparatively lower. It is easier & faster for a property to appreciate from $500k to $1mil than from $5mil to $10mil. In a bear market, there is also a lot more room for a $5 mil property to drop whereas the $500k property downside is limited.
Accessibility. 
MRT? Bus? LRT? Expressways? For rental investment properties, accessibility is the top priority for tenants consideration. One can be assured that the property price will be strongly supported by the high rental income if it is strategically located near MRT stations, LRT stations, Bus interchanges or it is easy accessible to major expressways. One of them are Kovan Residences and Kovan Melody which are located just above Kovan MRT.

Kovan Residences , located just above Kovan MRT

Kovan Residences , located just above Kovan MRT

Amenities.
In recent years, mixed developments are highly sought after as it offers the All-In-One convenience. Eg. Centris in Jurong, Greenwich, Watertown @ Punggol, Kensington Square etc. With traffic getting increasingly congested, more & more people are looking to cut down on travelling time & look at properties that have plenty of amenities at their doorstep.

Watertown Punggol Artist impression

Artist’s Impression – Watertown Punggol

Age.
With the recent tightening measures on lower loan-to-value from banks &  CPF housing withdrawal limit it will become tougher for buyers to finance older properties with shorter leases. At the same time, human as emotional creatures will always be fascinated and excited by new launches, designs, concepts and technologies. The same can also be said of Cars , clothes, properties and every other products.

If the property fits into these 4 “A”s, probability of having a good capital appreciation & rental yield are comparatively higher too. (Eg. Kovan Residences was launched in 2008 at around $900psf & today transacting at around $1300psf & does not take much effort to rent out).

So dear readers, the next time you are looking to purchase a property, remember the 4 “A” factors.

Source – CPF.gov.sg , Far East, MAS

suburban condominiums marching above $1,200 per sq ft

Land For SaleDespite several rounds of cooling measures, land prices have continued to rise resulting in most suburban condominiums exceeding the $1,200 per sq ft (psf) price threshold.

Most suburban residential sites under the Government Land Sales programme that have not been officially launched are expected to go beyond the $1,200 psf price tag. 2 of which have already been marketed

The site at Sengkang West Way is the only site that is expected to launch close to $1,000 psf. On the opposite end, the most expensive launches are scheduled to launch at New Upper Changi RoadYishun Ring Road and Ang Mo Kio Avenue 2, all of which are expected to cost more than $1,400 psf. These developments are in sync with the trend of recent suburban launches that hit above the $1,200 psf on average, some of which include the J Gateway in Jurong which launched at a median price of $1,486 psf and Urban Vista that was launched at a median price of $1,503 psf. Location Plan for Land Parcel at Ang Mo Kio Avenue 2

Analysts predict that the market is able to withstand a threshold of $1,500 psf if total prices remain relatively affordable. Tightening credit may dampen sales volumes in the medium-term, but suburban condominium prices should remain at an affordable price of up to $1.5 million.

Research experts say that prices are increasing because developers are building smaller units with higher psf prices and the demand for suburban condos come mostly from buyers upgrading from their Housing Board flats.

The increase in suburban condo prices alternatively boost the popularity of executive condos (ECs), making them significantly more affordable than suburban condos, but this may not be for long as even EC prices are set to go beyond $800 psf soon.

 

Source – iProperty.com, URA

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