An additional station will be built between Yishun NS13 and Sembawang NS11 on the North-South Line, and it will be known as Canberra station, said Transport Minister Lui Tuck Yew today (June 27). He said the feasibility study has been completed, and the Land Transport Authority will provide more details when ready. The station number will be added into the line quite seamlessly as there was always a station number missing on the NS line: Sembawang was station NS11 and Yishun was NS13.
This station will benefit residences staying around Yishun Ave 7 , the soon TOP Eight Courtyard, Yishun Emerald and Sapphire , 1 Canberra EC and the huge BTOs flats along canberra Link. It will also benefit workers in Yishun industrial park .
Source – TODAY Online
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.
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.
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.
source – Straits Time, SRX, CNA
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
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
The Thomson Line (TSL) is a 30km underground train line that is expected to be fully completed in 2021. The sixth MRT line will have 22 stations and 6 interchange stations which will link to the East-West Line, North-South Line, North-East Line, Circle Line and the future Downtown Line. Commuters can start enjoying the TSL from 2019 when the first stretch (three stations from Woodlands North to Woodlands South) will be completed. The second stretch (six stations from Springleaf to Caldecott) will be completed in 2020 and the final stretch (13 stations from Mount Pleasant to Gardens by the Bay) in 2021. The new Thomson (TSL) MRT line , costing S$18 billion is set to move more than passengers. It’s going to move housing prices upwards in ulu areas that are not quite accessible via the MRT currently, like Woodlands, Lentor and Springleaf.
How is the construction of The Thomson Line (TSL) inpact properties nearby?
- Temporary Decrease in rental income – Properties located close to The Thomson Line (TSL) construction sites (around 2-300 metres) might see a drop in rental income. Those who are rarely home during construction hours might not really care about the construction noise, but for those tenant with families will start looking for alternatives lodging. I mean who will wish to stay next to a construction site where you will enjoy a symphony of piling and drilling noise? Private property that might be affected are – Landed House along Upper Thomson Road, The Calrose, Thomson Grove, Far Horizon Garden , Garden @ Bishan, etc. Advice to owners , secure a longer lease NOW with your current tenant if possible to ensure stable rental income. It will definitely be tougher to get a tenant once construction starts. To rub salt onto the wound, the market will be flooded with newly TOP project in the next few years and thus pampered tenants with abundance choice. Be realistic, reduce your rental asking if required.
But dear owner, don’t get dishearten, good news is, rental income will increase substantially FOR SURE once The Thomson Line (TSL) construction is complete.
- Rise in Capital Gains after Completion of The Thomson Line (TSL) – It’s expected that properties within 500 metre of The Thomson Line (TSL) will appreciate by 20 – 30% once construction is completed. Areas like Springleaf, Lentor which is quite inaccessible now might rise a lot as residents can look forward to MRT stations at their doorstep. They will enjoy savings in travelling times. For instance, a resident travelling from Sin Ming to Republic Polytechnic will have his journey time reduced by half, from 50 minutes to 25 minutes. And residents from Springleaf Estate in Sembawang will only need 35 minutes to travel to the Great World City shopping mall, instead of the current 60 minutes. Golden Rule in property market Singapore, as long as the property is near MRT, it is a good investment. Take note some Executive Condo are for sale now in Woodlands and Sembawang, its quite near the future Thomson Line station. For those buyers whom are qualify to apply for ECs. You might seriously consider now. It take some years for the ECs to complete. By the time, the Thomson Line MRT should be almost done. Click HERE for EC for sale.
Below are some locations which readers might wants to pay special attention:
Woodlands Station (TS2) will serve as a interchange for the current North-South Line and upcoming Thomson line. Base on URA’s statistic , private properties which is within walking distance to the future Woodlands Station (TS2 ) such as Rosewood, Casablanca are transacting between $850-$950 psf. It is very affordable in today’s market. I see potential in this few properties. Woodlands Regional Centre (WRC) is one of four regional centres identified under the recently announced Land Use Plan. The Woodlands Regional Centre is envisioned to be Northern Gateway to Singapore – A vibrant live-work-play environment that will serve as the key commercial cluster in the North Region, with excellent accessibility to the city. It will certainly enhance the property’s price over there once everything is in place in near future.
Lentor Station (TS5) once ready, will serve residents staying around the Far Horizons Gardens, Thomson Grove, The Calrose, Seasons Park and of course the landed house along Lentor area. I believe there is potential en-bloc for Far Horizons Gardens and Thomson Grove, which is built on 1982 and 1984 respectively. Newer projects like Seasons park’s transacted price this year are hovering around $850 psf range. Property prices will rise, confirm plus chop! But for those landlords whom currently renting out units might not be too happy. The construction will , to some extend reduce rent prices in the short term.
Upper Thomson (TS8) A common complaint about this area is that it’s hard really to get to especially if you do not drive. Most of the business owner over there are serving only regulars old customers.
When the The Thomson Line (TSL) is up, I’m pretty sure business will improve. The MRT will also be a boon to the many shophouses and eateries around the area. It will be more convenient for commuters to visit famous eateries around there. New launches around the future MRT line like THOMSON THREE & THREE 11. Residents can travel from Upper to Downtown Orchard in about 15mins train ride when Thomson line is ready. Exciting right?
With the COE price keep raising, it makes more sense to buy a property that is near to MRT. No only it will save you in travelling timing and cost, it fetch better rental and appreciate faster then those property which is not near MRT too.
Interested to know more? feel free to contact me for a non obligation discussion.
Nearly 1km of the town’s two waterways, Sungei Api Api and Sungei Tampines, will be dressed up by 2015.
According to Straits time, current mangroves will be preserved, and more greenery will be planted along the canal walls. Gardens which filter rainwater through soil and plants will also be installed.
The $7 million makeover is the latest in PUB’s ABC Waters programme, which aims to provide “active, beautiful and clean” waterways. This will definitely enhance the value of properties in Pasir Ris.
- Sea Horizon executive condo at Pasir Ris to launch at $800psf. (paulngproperty.wordpress.com)