Tag Archives: Yishun

Canberra Station between Yishun and Sembawang MRT.

One-Canberra-MRT-stationAn 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

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2 Executive Condominium Housing Development Sites at Yishun

On  27 Mar 2014,  the Housing & Development Board (HDB) and Urban Redevelopment Authority (URA) will be releasing three residential sites for sale in March 2014 under the 1st Half 2014 (1H2014) Government Land Sales (GLS) Programme in order to provide developers and home buyers with more choices for private housing,  Together, these three sites can yield about 1,300 residential units. The two Executive Condominium sites at Yishun Street 51 are launched for sale under the Confirmed List.  I guess the winning developers will leverage of the superior geographical advantage of these 2 plot of lands and oriented most units  to face the Orchid Park Country Club Golf Course and the Lower Seletar Reservoir. Cool. Home owners may admire a panoramic view of Seletar Reservoir and Orchid Country Club’s golf course from the comfort of their own home which is hard to find in Singapore now a days where views are often obstructed by high rise buildings.  So potential buyers , stay tuned.  

View of Ochird Country Club Golf Course

View of Ochird Country Club Golf Course

Below are the details of the sale sites –

Proposed Development Executive Condominium Housing
Location Yishun Street 51 (Parcel A)  (PDF 311KB) Yishun Street 51 (Parcel B)  (PDF 310KB)
Site Area 17,940.20 sq m 18,260.40 sq m
Maximum GFA 
[GPR]
50,232.56 sq m
[2.8]
51,129.12 sq m
[2.8]
Maximum Building Height 56m AMSL 56m AMSL
Estimated Dwelling Units 490 520
Lease Term 99 years 99 years

As of 22/5/2013 12 noon, 6 bids were received for Yishun Street 51 (Parcel A) and 8 bids were received for Yishun Street 51 (Parcel B) . 

The details of the provisional tender results are below:

I) Executive Condominium Housing Site at Yishun Street 51 (Parcel A)

S/N
Name of Tenderer
Tender Price
($)
$psm/GFA
($)
1
Verwood Holdings Pte. Ltd. and TID Residential Pte. Ltd.
$178,500,000
$3,553.47
2
Sim Lian Land Pte Ltd
$174,800,000
$3,479.81
3
Nanshan Group Singapore Co. Pte. Ltd.
$173,100,000
$3,445.97
4
FCL Tampines Court Pte. Ltd. and KH Capital Pte. Ltd.
$171,980,000
$3,423.68
5
Hoi Hup Realty Pte Ltd, Sunway Developments Pte Ltd and Investment Focus Pte Ltd
$157,350,000
$3,132.43
6
Wee Hur Development Pte Ltd
$145,000,000
$2,886.57

 

ii) Yishun Street 51 (Parcel B)

S/N
Name of Tenderer
Tender Price
($)
$psm/GFA
($)
1
JBE Holdings Pte Ltd
$184,130,000
$3,601.27
2
Nanshan Group Singapore Co. Pte. Ltd.
$176,200,000
$3,446.18
3
Verwood Holdings Pte. Ltd. and TID Residential Pte. Ltd.
$176,000,000
$3,442.27
4
FCL Tampines Court Pte. Ltd. and KH Capital Pte. Ltd.
$164,010,000
$3,207.76
5
Wee Hur Development Pte Ltd
$155,000,000
$3,031.54
6
Hoi Hup Realty Pte Ltd, Sunway Developments Pte Ltd and Investment Focus Pte Ltd
$154,730,000
$3,026.26
7
Sim Lian Land Pte Ltd
$150,280,000
$2,939.23
8
CEL Residential Development Pte Ltd
$138,800,000
$2,714.70

 

Source - HDB

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

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 

Land Transport Master Plan 2013 & Your Property

The government announced two new MRT Lines to be built by 2030. They aimed to achieve 80 percent of households in Singapore to be within 10-minute walk to any station and 85% of public transport journeys to be within 1 hour. (base on journeys less than 20km )

Home price is likely to appreciate faster in value for properties with good access to public transport, especially MRT. You can’t go wrong with property near MRT stations, especially when COE price now is SKY HIGH!!! The prices for the luxury car and open categories both breached the $90,000 mark for the first time since February 2013. It makes more sense to invest in properties near to MRT for 99 years or more compare to investing in a car for 10 years.

COE Price Over the years

Few recent launched projects are very near to current MRT Stations and future MRT Lines.

Skyvue - Bishan

Skyvue – Bishan

SKY VUE @ Bishan is just a mere 5 Mins walk to Circle line and North South Line, The Tembusu-Kovan by WingTai is a 337 units freehold condo with full facilities located near Kovan MRT. Nine Residences is the first ever First Mix Development in Yishun, located within 10 minutes walk to NorthPoint, Yishun 10 and Yishun MRT. For Executive Condominum, we have The SKYPARK RESIDENCES ,located at the junction of Sembawang Crescent and Sembawang Drive, within 5 minutes walk to Sembawang MRT

 

Perhaps one day, when our MRT system can match big cities like Tokyo, Beijing, New York or London, a property next to the MRT station will be nothing special to a buyer.

MRT Line 2030

Source – LTA, Straits Time

 

New 3Gen flats for multi-gen families located close to Khatib MRT Station

National Development Minister Khaw Boon WanHome buyers will have more choice in next month’s Build-To-Order (BTO) exercise.  Multi-generation families buyers who want to live together for mutual care and support will have an additional optionto apply for the new three-generation (3Gen) HDB Build-to-Order flats , located at Saraca Breeze @ Yishun, close to Khatib MRT Station, revealed National Development Minister Khaw Boon Wan on Saturday.

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Writing on his blog, Mr Khaw said this will put the pilot launch of 3Gen flats — first announced last month and meant to encourage multiple generations to live under one roof – in the vicinity of an eating house, a minimart, shops and a childcare centre.

This ” New Product” will have an internal floor area of about 115 square metres that comes with four bedrooms and three bathrooms,. This is slightly bigger than an existing 5-room flat, which is about 110 square metres in size but smaller than older HDB 5rooms and Executive flats in Yishun. Current 5 Room flats in Yishun has a size of around 120Sqm – 130sqm while an Executive flat can be as large as 140Sqm.

Mr Khaw  added that the living and dining areas are well-placed to facilitate interaction, whilst providing the necessary privacy to both the elderly and younger couples.

To be eligible for the 3Gen flats, applicants must form a multi-generation family comprising a married or courting couple and their parents. But there are some restrictions — subletting of rooms will not be allowed during the five-year minimum occupation period. After fulfilling the minimum occupation period, the flats can only be resold in the open market to other eligible multi-generation families. The National Development Ministry said this is to ensure that the 3Gen flats actually serve their target group.

Source – Straits Time, ChannelNewsAsia, TodayOnline, HDB

 

Mixed-use site at Yishun Ave 2 at $1,077 per sq ft (psf)

According to HDB website, the highest bid for land parcel at Yishun Avenue 2 / Yishun Central 1 which is launched for tender on 28th Jun 2013 is $1,428,880,000. It is from North Gem Development Pte. Ltd. & FC North Gem Trustee Pte. Ltd. (as Trustee-Manager of North Gem Trust) Units of Frasers CentrepointIt translates into a price of $1,077 per sq ft (psf) per plot ratio (ppr) . YES!!! $1077psf just for the land in suburban area. It is 47 per cent higher than the next highest bid of S$969.3 million submitted jointly by Far East Civil Engineering, Far East Orchard and Sekisui House.

Location Yishun Avenue 2 / Yishun Central 1  (PDF 473KB)
Proposed Development Mixed Commercial & Residential Development Integrated with Bus Interchange & Community Club
Site Area 41,084.9 sq m
Maximum GFA [GPR] 123,254.7 sq m [3.0]
Maximum Building Height 56m AMSL
Estimated Dwelling Units 890
Lease Term 99 years

The tender closed at 12 noon today with 5 bids received. –

S/N

Name of Tenderer

Tender Price ($)

$psm/GFA ($)

1

North Gem Development Pte. Ltd. & FC North Gem Trustee Pte. Ltd. (as Trustee-Manager of North Gem Trust)

$1,428,880,000

$11,592.90

2

Far East Civil Engineering (Pte.) Limited, Far East Orchard Limited & Sekisui House, Ltd.

$969,333,333

$7,864.47

3

Zenlead Investments Pte. Ltd. & Zenmost Developments Pte. Ltd.

$930,000,000

$7,545.35

4

Sim Lian (Focus) Pte Ltd & Sim Lian (Brilliant) Pte Ltd

$875,000,000

$7,099.12

5

Yorkshire Investments (1) Pte. Ltd. and Yorkshire Trustee Pte. Ltd. (in its capacity as trustee of Yorkshire Mall Trust)

$704,500,000

$5,715.81

Yishun Land Parcel

Yishun Land Parcel

I will estimate that the launch price for residential property in this plot of land to be above $1600 psf range. This includes the building cost and of course  the profit  for the developer. Christopher Tang, CEO of Frasers Centrepoint Commercial, said in a statement that the company plans to develop a “12-storey integrated complex comprising 900 residential units sitting on top of a retail mall, bus interchange and community club“. That’s a huge development. If you do not know how big is a 900 unit residential projects, Take THE INTERLACE by Capitaland as reference. It is a project that housed 1040 units.

It seems like prices for properties in suburban are marching above $1200 psf.  Very soon, we shall see properties in Suburban selling in $1600 psf range judging from the results of the recent  HDB land sale. The possibility is very high especially when Executive Condos launch are expected to hit $800psf or above.  So dear buyers, still waiting for the best time to buy cheaper properties in the near future? I think the chance is slim. When is the best time to buy? well, I would say it is ‘last time’.   🙂

More about Yishun. Yishun estate is set for a major makeover, with proposals to turn its town centre into the hub of the north over the next few years according to HDB and URA. Land has been set aside in Yishun for medical specialty centres such as polyclinic and Hospital and other commercial developments. Yishun residents are also among the first to pilot HDB’s new upgrading schemes that are aimed at middle-aged estates which are over 20 years old.

New Yishun Town Centre

New Yishun Town Centre

A rejuvenation programme for Yishun Town Centre promises to breathe new life into the middle-aged estate. Count on new community spaces, improved pedestrian linkages, and an integrated mixed-use development with bus interchange at Yishun Central ( land parcel at Yishun Avenue 2 / Yishun Central 1  ) New park connectors will make it easier to get from nearby homes to Lower Seletar Reservoir, while the park around Yishun Pond will be enhanced for residents’ enjoyment.

Enhanced park - Yishun

Enhanced park – Yishun

 

Source – http://www.hdb.gov.sg, http://www.ura.gov.sg, CNA. http://business.asiaone.comhttp://www.straitstimes.com/

Upgraded waterways, new food centre for Pasir Ris residents

Pasir Ris residents will have something to cheer for. A more charming waterways and a new hawker centre at the heart of their town in the next few years. (Estimated completion date – 2015/16 )

Pasir Ris

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.

 

Source – http://www.straitstimes.com/breaking-news/singapore/story/upgraded-waterways-new-food-centre-pasir-ris-residents-20130825

http://www.pub.gov.sg/abcwaters/Pages/default.aspx

http://app2.nea.gov.sg/images/default-source/corporate-functions/pasir-ris.jpg?sfvrsn=4

58 singles applied for each two-room flat in the latest BTO launch

In Mr Khaw Boon Wan’s latest blog post, Mr Khaw hinted that as of last night’s BTO closing, “we expect to have received more than 8,500 applicants from singles. More than 55 singles will compete for each two-room unit on offer for singles. This is not lukewarm at all”

Indeed, according to the Housing Board’s final tally, about 58 singles applied for each two-room flat available to them in the Build-To-Order launch.

The two-room flats at Sengkang FernVale Riverwalk remained as attractive with about 81 singles going for each flat on offer. comparing to Yishun unit, it only received nearly 39 applications from singles.

There is a total of close to 20000 applications made in this round of BTO exercise, which calculated to 4.9 applicants fighting for 1 units. The exercise, which closed at midnight on 5/8/2013, was the first time singles aged 35 and over could apply for new flats.

.

BTO Application received , Aug 2013

BTO Application received , Aug 2013

Source : http://www.hdb.gov.sg , http://mndsingapore.wordpress.com/ , http://www.straitstimes.com

A rough guide to buying an HDB for single Singaporean.

The HDB has introduced several initiatives help singles Singaporean in get their home in recent years.This is the first time a BTO project will offer units just for them. Previously, singles aged 35 and above could only get their HDB homes from the resale market, with a grant of $15,000. This group can now apply for new flats under the BTO scheme. The applicant, must be a First-timer and is unmarried , divorced or widowed.

Guide for Single Singaporean buying HDB

Guide for Single Singaporean buying HDB

Source – Straits Time, HDB

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