10 ways the URA’s Draft Master Plan 2013 will affect your life

December 11, 2013 at 12:15 am

By Maria Almenoar, The Straits Times 20th Nov 2013

1. The Great South: An entirely new area called the Greater Southern Waterfront will be developed on 1,000 ha on the south coastline once the ports move from Pasir Panjang and Tanjong Pagar to Tuas by 2027.

2. More Marina action: A district called Marina South will take shape next to Marina Bay with eco-friendly features, including bike paths and a 800 metre-long car-free street.

3. Keeping that neighbourhood charm: Holland Village, Jalan Kayu and Serangoon Garden have been added to Singapore’s list of “identity nodes” in recognition of their unique, historical charm. Over 70 buildings will be conserved including Alexandra Hospital, Commonwealth Avenue wet market and former military buildings in Seletar.

4. Increasing community interaction: The new Marina South district and an expanded Kampong Bugis will feature fenceless, green housing developments to encourage interaction between neighbours.

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The cooling measures effect

May 23, 2013 at 11:40 pm

When talking about property these days with the common man, three things spring to mind. Firstly, the issue of price will definitely be brought up, whether manifested in the form of shock in reaction to the record costs some property buyers are willing to fork out for a HDB unit in the resale market, or in a lively debate about the affordability of condos

Another subject often addressed concerns supply. With the prospect of Singapore experiencing population growth brought on by an influx of foreign talents, there is indeed an underlying worry if there will be enough homes built to house everyone on this tiny island.

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Number of super-rich Asians to surge

March 14, 2013 at 6:49 pm

The number of high-net-worth individuals (HNWIs) in Asia is expected to surge by 88 percent in the next decade, the largest rate of increase of any region, according to intelligence firm Wealth-X.

Asia will become the largest hub for HNWIs outside of North America by 2020, with over 83,300 wealthy individuals enjoying a combined wealth of US$12.6 trillion (S$15.72 trillion), Wealth-X noted.

Meanwhile, Knight Frank’s Wealth Report 2013 revealed that Asian HNWIs – persons whose net assets are worth US$30 million or more – increased by five percent in 2012. However, their overall net worth fell from US$6.6 trillion (S$8.23 trillion) to US$6.4 trillion (S$7.98 trillion).

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Far East is best-selling developer again

February 14, 2013 at 1:33 pm

Far East Organization has topped the list of property developers in Singapore yet again for best sales figures last year at 2,181 private homes, or around 10 percent of the total number of 22,290 new units sold.

Among its best-selling projects were The Hillier in Hillview Rise and Watertown (pictured) in Punggol, according to DTZ Research.

In second place is City Developments Limited (CDL) and parent company Hong Leong Group with 1,674 units, mainly accounted for by Bartley Residences and The Palette in Pasir Ris.

Frasers Centrepoint, Qingjian Group and Hoi Hup Realty also placed in the top five.

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Summary of 7th round of Cooling Measures

January 20, 2013 at 1:17 pm

The government launched the seventh round of cooling measures on 12 January 2013, a comprehensive package of measures to cool the residential property market. The extensive measures addresses issues from public to private housing and executive condominium markets.

SUMMARY OF 7th Cooling Measures on Residential Market

  • Additional Buyer’s Stamp Duty rates will be increased between 5 to 7 percentage points across the board.
  • Loan-to-Value limits on housing loans granted by financial institutions will be tightened for individuals who already have at least one outstanding loan, as well as to non-individuals such as companies.
  • The minimum cash down payment for individuals applying for a second or subsequent housing loan will also be raised from 10 per cent to 25 per cent.
  • The government also introduced measures on public housing to control leasing and ownership of HDB flats by Permanent Residents.
  • New development guidelines for executive condominiums cap maximum strata floor area of EC units at 160 sq m and restrict sales of new dual-key EC units to multi-generational families only.
  • Private enclosed space (PES) and private roof terrace will be counted as gross floor area (GFA) under the 10 per cent bonus GFA, similar to the treatment for balconies.

To All My Readers & Clients…

December 28, 2012 at 12:48 pm

To All My Readers & Valued Clients,

Thanks for your trust, faith and support in me in 2012!
Wishing you an awesome 2013! Looking forward to serve and add value!  😆

Best Wishes
Justin Chua

S’pore home prices to rise 8% by 2017: study

December 10, 2012 at 4:20 pm

A number of analysts have predicted a drop in Singapore’s home prices due to a large supply of land coming onstream and tighter monetary policy from the US Federal Reserve. But a study by Credit Suisse that was reported in The Business Times predicts that prices will rise some eight percent by 2017.

“Contrary to the view of many, our analysis shows that prices will only correct marginally by 2017, if the government pushes out the supply of property as aggressively as it has over the last three years through its Government Land Sales (GLS) programme,” said Michael Wan, Analyst at Credit Suisse.

For private property prices in Singapore to come down, an interest rate shock and/or poor GDP growth is needed, according to the report. It added that while cooling measures have temporarily softened transactions, not all the curbs have been effective in reducing prices.

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Bukit Panjang transport hub by 2015, linked to LRT & MRT stations

November 16, 2012 at 1:46 pm

The Land Transport Authority has announced that the next integrated transport hub will be built in Bukit Panjang, in 2015.

Like the other integrated transport hubs in housing estates such as Sengkang, Serangoon and Clementi, it will be airconditioned and house a bus interchange and train station under one roof.

The Bukit Panjang hub will have a 7,350 sq m bus interchange “seamlessly linked” to LRT and MRT stations, as well as adjoining developments.

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GCB market still kicking amid new measures

November 3, 2012 at 12:07 am

Despite the most recent property cooling measures in the form of new home loan regulations by the Monetary Authority of Singapore (MAS), demand for Good Class Bungalows (GCBs) still appears to be relatively strong, reported The Business Times.

Five caveats were lodged in October with a total value of S$122 million and more could be submitted in the coming weeks for deals closed last month, according to CBRE’s analysis.

The initial October tally somewhat matches figures in the previous two months; six deals with a total value of S$128 million in September and another six in August at S$119 million.

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Cities need to relook shoebox living

October 20, 2012 at 11:09 am

 

The controversy surrounding shoebox units has spurred many diverse viewpoints in the past. And now a new report by Savills Research called “Shoebox units – Is small smart or is bigger better?” is championing the role such homes have in major cities around the world.

According to Savills, homes as small as 250 sq ft can successfully meet demand for city centre living amongst young professionals, for whom affordability is severely constrained.

Developers and investors in Singapore favour the higher psf values of shoebox units more than size. Currently a premium of around a third is payable compared to other non-landed property values, at over US$1,250 (S$1,522).

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