Sunday, September 28, 2014

Our new blog-site has gone "live"!


The new SG PropTalk site is now "live" and accessible via www.sgproptalk.sg. This will be our final post on this (old) blog-site.


While there are still a couple of bugs that need to be ironed out, the wife and I are actually pretty satisfied with how the new blog-site has turned out. Considering that this is another of our DIY-project and given our limited blog-design knowledge, we probably can pat ourselves on our backs for a job well done!

To those who had provided us with your comments/suggestions during our redesign process, we are grateful for your inputs.

See you at our new SG PropTalk blog-site!

Saturday, September 27, 2014

Another educational seminar brought to you by Property Club Singapore...


After running a full house for their last education seminar, Property Club Singapore will be holding another one entitled "Smart Landlords vs Smart Tenants".


The event will be held on November 1, 2014 (Saturday) at NTUC Centre. Click on link below for more details about the upcoming seminar and how to register for the event.



Friday, September 26, 2014

iProperty.com survey: Singapore property prices lower but still "out of reach"!


Prices of residential properties may have fallen over the past few months, but they are still too expensive and buyers are increasingly waiting on the sidelines for prices to drop further, a survey has showed.

Nearly a quarter, or 22%, of respondents do not plan to purchase property at the moment, up from 10% six months ago, showed a half-yearly Asia Property Market Sentiment Report by real estate portal iProperty.com. Some of the reasons cited include high prices and the challenge of the down payment.



“Buyers are biding their time, with affordability and financing as top concerns. While the number of respondents who intend to purchase within the next 24 months remains the same at 51%, buyers may wait for new and resale private condo prices to fall … The market is now correcting after the rapid rise over the last few years, and demand is there at the right price point,” said Mr Sean Tan, general manager of iProperty.com Singapore.

Several rounds of cooling measures have seen the value of both private and public properties fall. In the second quarter of this year, private home prices were about 3% off the peak in the third quarter of 2013, while public resale home prices were down 5% from its peak in the second quarter of last year, data by the Urban Redevelopment Authority and Housing and Development Board showed.

A majority of the survey respondents, or 53%, think that both new and resale private condominiums will see further price declines this year. Against that backdrop, the survey saw a 15 percentage point increase in the number of home owners who want to sell their properties, compared with six months ago.

“The report shows that both property sellers and buyers are nervous a year after the start of the Total Debt Servicing Ratio (TDSR). In the second half of 2013 report, just after the TDSR was announced, 59% of owners were confident their properties would retain its value; now only 38% think so, a decline of 21 percentage points. Another 25% are unsure if the value will be retained,” said Mr Tan.

The survey, which polled 2,805 respondents in Singapore, also found that a majority of them, or 56%, are in favour of the Government’s decision to keep cooling measures in place despite repeated calls by industry practitioners to tweak some of the curbs.
Source: CNA

Click on link below to read the full report....all 140 pages of it. For those who are only interested in the Singapore residential market, start reading from page 103.


Here's one GLS site to look out for!


The URA and HDB have released two 99-year leasehold sites under the H2 2014 Government Land Sales (GLS) Programme yesterday. Both sites are expected to yield about 1,000 units of private homes jointly.

The first site is slated for a mixed-use development located along Upper Serangoon Road. However, it is the second site that will probably generate more interests... at least in our opinion.

The said plot is located in Dundee Road near Commonwealth Road, which was made available for sale on the Reserve List. The 10,516sqm (113,194sqft) site, with a maximum GFA of 51,528sqm (554,653sqft) is expected to yield 645 units.




The Dundee Road plot is actually located next to Commonwealth Towers, which site was acquired by CDL/Hong Leong at $883psf ppr back in December 2012. Units in this development were sold at average prices of around $1,600psf.

So it will be interesting to see the response from developers for this adjacent site this time around, given the less than rosy market sentiments...


Thursday, September 25, 2014

So how much is the most expensive apartment in NYC?


Answer: A cool US$130 million!

The accolade belongs to a triplex penthouse at Zeckendorf Development Co's tower under construction on Manhattan's Upper East Side.

The 12,394sqft property will span the top three floors at 520 Park Avenue, where sales will begin in the first quarter of next year.

The building, between 60th and 61st streets, will include seven duplexes of about 9,138sqft each, starting at US$67 million. Single-floor units of about 4,600sqft will start at US$16.2 million.

The triplex would be the most expensive listing for an apartment in New York history and the largest on the Upper East Side. The unit will include a 1,257sqft terrace with views of Central Park to the north. 520 Park Avenue is slated for completion in 2017.

The asking price works out to about US$10,000psf, which is the average resale price of condos that face the park at the Zeckendorf's 15 Central Park West. At that complex, on the Upper west Side, former Citicorp Inc chairman Sanford Weill sold his penthouse for US$88 million in 2012, Manhattan's most expensive completed residential deal.
Info source: Bloomberg

And to think that Singapore luxury home prices are high...