From burial ground to hottest suburb...

We are (or rather, the latest issue of The Real Deals) talking about Bishan.

The "3.6% and above" rental yield for developments around the area is not too shabby either, especially considering their "classier" cousins in Marina Bay are fetching only about 3%...

For reasons unknown, the "new" Blogger can no longer support embed documents as easily as before. So click on link below to access the report:

http://www.scribd.com/doc/91920401/The-Real-Deals-26-04-2012

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Are you living in a "shoebox"..?

Mr Mak has asked a rather pertinent question: the wife and I actually do not know of anyone who lives in a "shoebox" apartment. Then again, we are probably the "old school" sort and coming from a totally different demographic.

So here's a straw poll on our readers: What age group do you belong to and how many "shoebox"dwellers do you know?

Reference: "Shoebox units make up 27% of new sales"- The Business Times, 28th April 2012


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Enbloc News: Jade Towers first to break $100mil mark in 2012!

This should provide positive reinforcement to other potential "over $100 million en bloc aspirants"...


Reference: "Roxy-Pac acquires Jade Towers for $106.3m" - The Business Times, 27th April 2012


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The Real Deals (19-04-2012)

The latest issue of "The Real Deals" by Kim Eng Research focuses on residential properties in the Marina Bay area.

Looks like investors are not getting any real bang for their buck rental wise, what with the paltry 3%  (or less) rental yields on their multi-million dollar investments. Having said that, it still beats leaving money in the bank anytime!

Click on link below to read the report:
http://www.scribd.com/doc/91324947/The-Real-Deals-19-04-2012

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Enbloc News: Novena Ville

Novena Ville, a 43-unit mixed-use development along Thomson Road, has been put up for en-bloc sale.

Its marketing agent Credo Real Estate says it is expected to be hotly contested as it has the potential to accommodate shops on the ground floor.

Credo adds that the sellers are expecting offers in the region of $125 million to $135 million.

The freehold site has an area of 51,092sqft  and with a Gross Plot Ratio (GPR) of 1.4 and an allowable height of up to four storeys.

Depending on the quantum of commercial and residential GFA proposed, Credo says the prices translate to land rates of about $1,748 to $1,887psf ppr for redevelopment up to a GPR of 1.4.

If the extra 10% allowance for the balcony space of the residential component is included, the land rates will be reduced to the range of $1,626 to $1,756psf ppr, as no development charge is payable for redevelopment of the site.

Tan Hong Boon, deputy managing director at Credo Real Estate said: "This rare mixed-use site may be developed into a residential and retail project that has been gaining popularity of late. In recent months, shops at the first level of newly launched projects located in the suburbs such as East Village were reported to have breached the $5,000 psf mark."

The tender for Novena Ville closes at 2.30pm on 24 May.

Source: Channel News Asia

The wife and I can certainly appreciate why owners of Novena Ville will want to cash out. But the site may not be as "hotly contested" as some have assumed.  Click on the link below to see why:

http://www.sgproptalk.blogspot.com/2011/11/north-south-divide-singaporean-style.html

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Enbloc News: Kemaman View

Freehold residential development Kemaman View was put up for sale by public tender on Monday.

Located at Jalan Kemaman off Balestier Road, the development sits on a land size of approximately 17,400sqft.

The site is zoned for residential use, with a gross plot ratio of 2.8 and a maximum building height of up to 36 storeys.

The indicative price for the development is between $46 million to $48 million, marketing agent HSR Investment Sales said in a statement.

The figure translates to $945 to $986psf ppr.

No development charge is expected to be payable for the site.

Head of HSR Investment Sales Jeffrey Goh said, "The Balestier vicinity has been singled out as the key city fringe area to be enhanced, rejuvenated and revitalised.

"The upcoming Zhongshan Park and hotel developments will add vibrancy and add to the charm of the area."

Kemaman View currently comprises 30 units, each with an average size of about 1,300sqft.

HSR said a brand new high-rise development could yield about 98 new apartment units with unit sizes averaging 600sqft each.

It added that the units would have a target selling price of between $1,400 to $1,600psf, with an expected break-even price of about $1,300psf.

New nearby developments, such as The Interweave and Prestige Heights, are transacting between $1,400psf and $1,600psf for individual units.

The tender will close on May 23 at 3pm.

Source: Channel News Asia

One major issue that the wife and I have with this site is that access to the new development may be somewhat challenging especially during major Buddhist festivities and "Ching Ming" period.
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Property Spotlight: Telok Blangah/Keppel Bay area

Investors are once again turning their attention to new developments in the Telok Blangah and Keppel Bayarea in District 4. The ones that are on the radar screen of buyers are naturally the newest projects, such as the recently completed Reflections at Keppel Bayand Skyline Residences.

Designed by globally acclaimed architect Daniel Libeskind and developed by Keppel Land, the 1,129-unit Reflections at Keppel Bayhas seen renewed buying interest in the past month. Completed last December, the 99-year leasehold luxury condominium contains a mix of two- to four-bedroom units. It's located close to Keppel Club, the Keppel Marina and is also near VivoCity shopping mall and Sentosa Island.

To date, 88% of the 950 units launched at Reflections have been sold. Most recently, the project saw the sale of three units in March. A 1,442sqft, three-bedroom unit on the 23rd floor was sold for $3.1 million ($2,149psf) in a sub-sale. And a two-bedroom unit on the 13th floor changed hands for $1.89 million ($1,618psf). Meanwhile, another two-bedroom unit on the 14th floor transacted at $1.9 million ($1,650psf). The highest unit price recorded at Reflections at Keppel Bay was for a four-bedroom unit on teh fifth floor of one of the sixth-storey villa tower. the unit, which is said to have unobstructed sea views, fetched $11 million ($3,256psf) last November. the buyer is a Singaporean.

According to Samuel Eyo, director of Savills' Prestige Homes, the difference in unit prices can be attributed to the differences in views. "A key draw of Reflections at Keppel Bayis its waterfront views and lifestyle options," says Eyo. "Units with better views can sell for about $2,000psf." He adds that the development has seen a good mix of locals and foreigners who are buying units for personal use and investment. "Units can fetch a rental rate of $6 to $7psf," says Eyo.

Keppel Land has set aside several blocks as corporate residences. The two- to four-bedroom units will be leased fully furnished for between $8,000 and $9,000 a month, depending on the size. Eyo believes that Keppel Land will hold its rental rates and set benchmark for individual investors looking to lease out their units.

Skyline Residences also saw renewed buying interest in March, after a lull following the latest property cooling measures in December. expected to be completed in 2015, the freehold development located at Telok Blangah saw three transactions in March, based on caveats lodged with URA Realis. Developed by Bukit Sembawang Estates, the 231-unit condo has a mix of one- to five-bedroom units. A unit that was recently sold was a 14th-floor one-bedroom unit that went for $1.07 million ($2,224psf). Another transaction was for a sixth-floor, three-bedroom unit that changed hands for $2.6 million ($1,967psf). The third transaction was for a 13th-floor, two-bedroom unit that went for $1.6 million ($1,968psf).

Skyline Residences is a redevelopment of the former Fairways Condominium and is within walking distance to the Telok Blangah MRT station. While some units at the project enjoy sea views, Skyline Residences cannot be compared with Reflections at Keppel Bay as the latter offers a whole new waterfront living lifestyle and is targeted at a different segment of the market altogether, says Savills' Eyo.

Value hunter have also been looking at the older condos in the area. the 139-unit freehold Harbourlights, completed in 1997, saw two transactions last month. A 1,249sqft, three-bedroom unit on the fifth floor was sold for $1.73 million ($1,390psf). The previous owner had purchased the unit in a sub-sale in May 1996 for $1.25 million ($1,001psf). Hence, the unit has seen a capital appreciation of 38.4% in 16 years. On the third floor, a 721sqft, two-bedroom unit was sold for $998,000 ($1,384psf). The unit had changed hands twice previously. The first owner had purchased it at $591,112 ($820psf) from the developer in October 1995. The unit was then sold for $583,000 ($808psf) in a sub-sale in May 1999. The property has seen a capital appreciation of 68% in 16.5 years.

Purchasers of Harbourlights are mainly end-users, says Eyo. "Telok Blangah is attractive to buyers because it is close to the city and MRT staions and there are shopping malls like Harbourfront and VivoCity located close by," he notes.

Source: THEEDGE SINGAPORE

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Katong Regency: 70% of units booked!

Property giant UOL Group has put out its first mixed-use development for sale in 2012.

Some 70 per cent of residential units in Katong Regency were booked on its launch. Of these, the sale of about 130 units have been confirmed.

Buying momentum of new private homes seems unabated as seen at the latest property launch of Katong Regency, with buyers out in full force despite it being a weekday afternoon.

The developer of Katong Regency said enquiries on the development had flowed in even before the launch.

Kam Tin Seah, Senior General Manager (Investment & Strategic Development) at UOL, said: "We initially planned to maybe have more than one phase at launch. But because of the good take-up at the soft launch, we have made the decision to launch the whole project.

"It is a very well associated kind of Tanjong Katong address. So you would expect the core demand to still come from this immediate neighbourhood."

Located at the junction of Tanjong Katong Road, the site used to house the former Lion City Hotel and Hollywood Theatre. It is a mixed development which consist of 244 residential units and commercial space.

Prices for the residential units range between $950,000 for a 550 square feet one bedroom unit, and $2.52 million for a three bedroom pent house unit of 1,970 square feet. That works out to about S$1,475 to S$1,727psf.

Analysts said the pricing is at the steep end, compared to units at nearby developments, which are about 5 to 10% cheaper.

Still, buyers response are expected to be healthy. Analysts said this is because the government is planning to rejuvenate the area.

Lee Sze Teck, Senior Research Manager at DWG, said: "There is a certain growth being ramped into the area by the government, so people might buy into the growth story in the area. Also this is a freehold project, and it is a mixed development with retail shops and residential units."

The apartments will sit above the upcoming ONE KM mall. To be managed by UOL, the retail development will have a total net lettable area of 210,000sqft with some 150 retail tenants. Some of the buyers have said that they like the retail mall as there is a lack of malls in the Katong area.

Source: Channel News Asia

Wouldn't it be more accurate to say that 53% of the project is already sold? Then again, "70% Booked" is a more commanding statement. Oh well...

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Enbloc News: Third time lucky for Green Lodge?

Green Lodge, a freehold property at Toh Tuck Road, has been put up for collective sale with an indicative price of $195 million.

Property consulting firm DTZ Debenham Tie Leung (SEA) is conducting the tender exercise for the sale, which will close on May 15 at 3pm.

Green Lodge can be developed into a five-storey condominium development at a gross plot ratio of 1.4. It sits on a land area of about 14,035.3 sq m (151,075sqft).

Based on the indicative price, DTZ said the land price translates to $846psf ppr, inclusive of about 8.9% balcony space for which Development Charge is not payable.

"The property would draw keen interest from developers looking to build a condominium development with full communal facilities in an established residential enclave," said Shaun Poh, DTZ's senior director for Investment Advisory Services and Auction.

DTZ said the property is located near the upcoming Beauty World MRT Station on the Downtown Line which will be operational in 2015.

Source: Channel News Asia

This is at least the third time that Green Lodge has put itself in the market. The last asking price was also around $195 million.

Click on links below to read our previous posts about the Green Lodge en bloc:
http://www.sgproptalk.blogspot.com/2011/11/enbloc-news-green-lodge.html
http://www.sgproptalk.blogspot.com/2009/12/another-one-on-en-bloc-wagon-green_8820.html

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New Housing Developers Rules from today!

The Urban Redevelopment Authority (URA) has announced changes to the Housing Developers Rules (HDR) that will take effect from 18 May 2012.

The changes will enhance transparency in the real estate industry and enable home-buyers to make better informed decisions when buying a home.

Among the changes, developers will have to provide more information on the housing project and property to a home-buyer before the issue of an Option-to-Purchase.

The additional information has to include the estimated land area for landed property, drawn-to-scale location plan, and a breakdown of a unit's floor area by the various spaces such as bedrooms, balconies and bay windows.

Developers will also be required to provide information on their track record to home-buyers.

In addition, URA said developers will have to obtain home-buyers' consent before proceeding with changes to a housing unit.

Substantive changes to common property in the development must also be made known to home-buyers, who will have 21 days to express their objections in writing.

Existing controls on advertisements in newspapers and sales brochures will be extended to those on websites to prevent any false or misleading information.

Developers will also be subjected to a new deadline for the disbursement of refund. In the event where a home-buyer does not exercise the Option-to-Purchase, the developer has to refund 75 per cent of the booking fee within four weeks.

Under the changes, developers will also have to hand over the keys to the units within three weeks after receiving payment due, upon the issue of a Temporary Occupation Permit (TOP), or they may be liable to liquidated damages.

URA said the changes take into consideration feedback from various stakeholders in the real estate industry.

In a statement, the Real Estate Developers Association of Singapore (REDAS) said it welcomes the changes, and is committed to promote good practices and professionalism among developers to deliver better and higher quality homes.

In addition to the changes to the HDR, URA is also finalising changes to the Housing Developers (Control & Licensing) Act, which will take effect in the second half of the year.

The changes will include requirements on setting up show flats to depict the actual units accurately and the publication of transacted prices on a weekly basis.

Source: Channel News Asia

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New project info: Katong Regency

This project launch should be good news for "small format" apartment lovers, as half of the 244 units are 500+sqft.


Reference: ÜOL launching freehold Katong Regency" - The Business Times, 17th Apr 2012

 

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Enbloc News: Harbour View Gardens

Harbour View Gardens, a freehold residential site in Pasir Panjang, has been put up for collective sale.

Its marketing agent Colliers International said indicative price for the site is between $36 million and $38 million, which works out to be between $836 and $883psf ppr.

Harbour View Gardens comprises a total of 14 units and is located on a site measuring about 30,745sqft.

Colliers said there are seven maisonettes with an average floor area of 2,411sqft each and seven walk-up apartments with an average floor area of 1,195sqft each.

Upon success of the collective sale, each owner could receive between $1.6 million and $3.6 million, according to Colliers.

Under the 2008 Master Plan, the subject site is zoned for "Residential" use, with a gross plot ratio of 1.4, with an allowable building height of up to five storeys.

Colliers added that subject to approval from relevant authorities, the successful buyer could re-develop the site to accommodate a five-storey residential development comprising some 50 units of 775sqft each.

The tender will close on May 16, 2012, at 12.00 pm.

Source: Channel News Asia

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Record sales in Q1 2012 => Rolling good times are back..?

The number of new private homes sold in the first quarter of this year crossed the 6,600 mark - a record high, according to analysts. But have prices of private home sales peaked?

Riversound Residences and Palm Isles were among last month's top four selling projects, all located in the suburbs.

March raked in over 2,300 new private homes, lower than February's 2,400.

Still, the first three months of 2012 have seen monthly sales of private units peaking above 1,500 units - considered high by many analysts.

While analysts do not see a bubble forming in the property market, they said further cooling measures may only have a temporary effect. And the mid tier and high end market will still see correction of an estimated 15% by the end of 2012, dragging overall prices by 5%.

Chia Siew Chuin, director of research, Colliers, said: "When we talk about a property bubble, one has to be aware that we not only look at sales per se, but also at prices. The number of sales in this period is really supply-driven, but it is also likely to be at the expense of very little price movement we have seen in the market."

Still, some analysts said developers are catering to demand, launching at least 2,000 units every month in 2012 - a figure only attained in April last year.

Chris Koh, director, Chris International, said: "The number of units being pushed out and the numbers being taken, you can see does not differ much. Like what we have shared, 2,500 units against a 2,300 take-up is actually a very healthy number."

Contrasting market sentiment between the mass and luxury markets are likely to affect prices.

Ong Teck Hui, executive director, Credo Real Estate, said: "Where we are just talking about OCR where the volumes have been pretty strong, then the outlook for this year is fairly positive. We are likely to see a stable market with some slight upside in prices, perhaps 3-5%. For CCR, in particular, the softening of prices is likely to continue."

With the record high number of new private home units being taken up, analysts said 2012 is set to outperform last year's sales of 16,000 units.

Source: Channel News Asia

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Sky Habitat: How many sold? How much psf??

CapitaLand said it has received strong interest for its suburban condominium project, Sky Habitat. As of 6pm on Sunday, it sold 70% of the 180 units launched for sale this weekend.

The developer said eight in 10 buyers are Singaporeans. 81% of units sold were two- and three-bedroom units.

Said to be the most expensive suburban condominium here, the development in Bishan Central is going for $1,642 psf for a four-bedroom unit to $1,747 psf for a one-room unit.

A three-bedroom room apartment will cost about $2 million.

Source: Channel News Asia

d'Leedon (Recent Transactions)

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Shoebox unit is livable!

Some of you may recall Mr Yap Boh Tiong's letter in last week's Sunday Times (If not, click on this link: http://www.sgproptalk.blogspot.com/2012/04/heres-what-some-say-about-shoeboxes.html).

The wife and I were expecting a response from the "pro-shoebox" camp and surely enough, there is a rebuttal letter in today's Sunday Times.


Reference: "Cosy shoebox flats foster togetherness"- The Sunday Times, 15th April 2012


While we concede that nobody should judge or dictate someone else's dwelling for child-bearing purposes, we feel that Ms Lo has missed the point somewhat -  by "livability" Mr Yap was actually referring to population growth and family (which generally refers to a fundamental social group in society typically consisting of one or two parents and their children) bonding. 

The counter-argument will be more compelling (in our humble opinion as always) if it comes from a family of 4 people (parents + 2 kids) living in a 463sqft apartment. Then again, we do know of some married couples who call their pets "kids" (and probably treat them better too)...

But for the rest of us who are sitting on the fence with regard to the "livability" debate, below is another opinion piece on why shoebox apartments may not be the "affordable alternative" that many buyers think they are.

Have a great week ahead!

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Sky Habitat... as reported in "The Edge"

Since today is the day where Sky Habitat throws open the doors to its sales gallery (hopefully, the torrential downpour did not put a damper to things), the wife and I will like to share with you an article in this week's issue of "TheEdge Singapore", which featured the project.

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The Real Deals (05-04-2012)

This report is about a week old (us bad!) but still make for some interesting read.

So are we really looking at another round of cooling measures soon...?

The Real Deals (05-04-2012)

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The "Sky Habitat" effect...?

With all the buzz surrounding Sky Habitat and its "at least $1700psf" expected price, it makes one wonder if the recent "$900K HDB maisonette" transaction is a blip or a sign of things to come.

Having said that, the wife and I understand that this is NOT the first maisonette in Bishan that was sold for $900K - a similiar transaction was concluded back in 2010.

"We got the sky above, and the trees so green.

It's the place we love, our home sweet home!"



Right....

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New project sales status: Hillsta, Palm Isles, Seletar Park Residence

 

Reference: "109 units at Hillsta project in Choa Chu Kang sold" - The Business Times, 10th Apr 2012


And elsewhere,

Palm Isles
40 units of Frasers Centrepoint's Palm Isles at Flora Drive were sold over the weekend, at an average of $830psf, bringing the total number sold to 195 units out of 429.

Its buyers were mostly Singaporeans.


Seletar Park Residence
8 units of Tuan Sing Holdings' Seletar Park Residences were sold over the long weekend. All the buyers were Singaporeans.

The 276-unit project has now recorded 120 sales since its launch last month. The average price remains at $1,200psf.

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Enbloc News: Cavenagh Gardens

Below is an article in The Business Times today.


Reference: "Cavenagh Gardens up for en bloc sale" - The Business Times, 10th Apr 2012

This is probably the fourth en bloc attempt by the development. The current asking price is some $160 million lower than when it was first put out in the market in October 2007...

(* The wife and I know our info is somewhat different from what is reported in The Straits Times today, but we have based ours on a previous report by The Straits Times back in September 2011 *)

Click on link below to read our previous post about the Cavenagh Gardens en bloc:

http://sgproptalk.blogspot.com/2011/09/and-yet-more-enbloc-news-cavenagh.html

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Naughty, naughty.....

What use are proposed rules if they are not followed? Hopefully the actual implementation (when it happens) will come with a big "stick" to ensure that everybody toes the line.

And are you really surprised by the fact that "low-value floor areas" such as aircon ledges, planter boxes and balconies can take up more than 20 to 30% of a shoebox apartment?


Reference: "Random check: Showflats don't fulfill proposed criteria" - The Straits Times, 9th Apr 2012

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"Shoeboxes" bad for marriage and child birth....?

There has been quite a bit of buzz around shoebox units in our local newspapers over the Easter weekend.

Both writers question the social implications of living in such "shoeboxes", especially when comes to promoting marriage and more importantly, having children.


References:
1. Limit number of shoebox units in private develoipment - The Straits Times, 7th Apr 2012
2. Bigger families? Not in shoebox flats - The Business Times, 7th Apr 2012

The wife and I are (you can probably tell by now) no fan of shoeboxes. But we reckon it will take much more than a bigger apartment to entice our younger generation to marry earlier and have more kids.

My wife's maternal grandparents have like 8 kids and everyone was living under the same roof of a less-than-1,000sqft, 3-bedrrom SIT flat in Tiong Bahru until all of them eventually got married and moved out.

While one can argue that THAT was a time when "policemen still wore shorts", what we really need is a fundamental change in mindset of our younger generations regarding marriage/having kids and better support structure for parents, which is more than what the current "Baby Bonus" or calls to regulate the size of  apartments can address.

Our humble opinion, as usual... Have a great week ahead!

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Meadows @Pierce looks to TOP anytime now!

These are photos taken of Meadows @Pierce when the wife and I were on our "prata fix" at Casuarina Curry this afternoon. 

The external colour scheme does come across as rather dull, especially on a murky rainy day...

Click on the link below to see our previous review on Meadows @Pierce:
http://www.sgproptalk.blogspot.com/2009/12/meadows-pierce-review_2172.html

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Sky Habitat... only if you shell out $1,700psf up!

When CapitaLand's designer condomiunium project, Sky Habitat, goes on sale on April 14, it may set a new record for the prices of residential units located in suburban areas.

Ahead of the condominium's launch, some market watchers estimated that a unit at Sky Habitat could sell for between $1,700 and $1,800psf.

CapitaLand was tight-lipped about prices of the units and it says they will be available closer to the launch date.

The 509-unit Sky Habitat is designed by renowned architect Moshe Safdie - a premium that is likely to be reflected in its pricing.

CapitaLand paid $550 million for the condominium's site at Bishan Street 15 through a government land sales tender in February 2011, which some property analysts say was a hefty sum for the time.

The developer believes the strong sales momentum seen in the first quarter will continue.

"We always believed that the residential market is a function of many factors, the key one being global sentiment," CEO of CapitaLand Residential Singapore Wong Heang Fine said.

"Interest rates are still very low, the job market is still very good, so naturally there would be a response from buyers," he added.

Source: Channel News Asia

So what happens when interest rates begin to rise and the job market starts to go sour....or should we all just live for the moment while it lasts?

It's not a problem, we concur, if one can pay the unit off fully in the next 2 or so years!

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Bad news for PR => more bad news for private homes market?

This is what the chatters in our "Comments" column were about today.


Reference: "Wealthy foreigners can't 'buy'PR status anymore"- The Business Times, 4th Apr 2012

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Shoeboxes getting "shooed"...?

Demand for small sized apartments also known as shoebox units may be waning.

These units spanning less than 500sqft seem to be a hit with property buyers recently.

Analysts said the popularity of these units in the rental market will only be tested in 2013, when the bulk of these units will be ready and put up for rent.

Smaller apartments have been flooding the property market in recent years.

A shoebox unit is roughly the size of four HDB carpark spaces, and its price can go for below a million dollars for a private property.

Analysts noted that some a record high 2,000 units of this size were snapped up last year.

But experts said demand may be waning on concerns of potential oversupply.

Savills' Head of Research, Alan Cheong, said: "At the moment, that seems to be the typical blueprint of developer to have shoebox units in any development. But I would think that the time will come, perhaps as soon as the second half of the year, when developers realise that they may have to tweak it to a family-oriented size units because you are also heading towards 2013, when the supply of the 2,000 units is coming out."

Market watchers will be placing their attention on the upcoming Alexis, slated to complete by 2012.

Touted as one of the first few shoebox developments to be ready, Alexis will set a benchmark in how much rental shoebox apartments can fetch.

Lee Sze Teck, who is senior manager (Research & Consultancy) at DWG, said: "I think this would be popular with expatriates that don't come with an expatriate housing package. For locals, maybe singles would prefer if it suits their current lifestyle, as in they work late, don't stay there much often, and just going back there to rest."

Analysts estimate shoebox units to command rentals between $2,500 and $3,000 in the suburbs.

IPA CEO Ku Swee Yong said: "For a $3,000 budget per month, you scarcely can get a shoebox unit near to town or within CBD itself. But for $3,000 going out to the North-east of Singapore, Choa Chu Kang or Bukit Panjang, that rental can get you a 5-room HDB apartment that is three times the size of your shoebox unit. And you would probably still be able to share two of your bedrooms with some of your colleagues in order to share your rental expenses further. So in the outskirts of Singapore, small sized units rental values may not be as high as what we imagine or project them to be today."

Another sign of waning popularity is that prices of shoebox units in the resale market also dipped by 0.9% in February.

This is according to Singapore Residential Price Index compiled by NUS Institute of Real Estate Studies.

Source: Channel News Asia

Let's just hope that both locals and foreigners alike will continue to embrace the "small format" living concept, especially with all these shoebox units coming onstream next year. 

As for the wife and I, we will prefer to stay put in our little 1,600+sqft 3-bedder, despite the fact that it's leasehold and over 30 years old...thank you.

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Enbloc News: Bartley Grove Apartment sold for $74 million

Bartley Grove Apartment, together with three adjoining terrace houses at Bartley Road have been sold for $74.1 million to a subsidiary of Singapore-listed Top Global.

Located in District 19, the combined freehold site has a land area of 65,305sqft with a gross plot ratio of 1.4 and an allowable height of up to five storeys.

Marketing agents Credo Real Estate said the sale price translates to a unit rate of approximately $810psf ppr.

Each of the owners in Bartley Grove Apartment is expected to receive between $1.25 million and $3.24 million.

Credo Real Estate's Deputy Managing Director Tan Hong Boon said: "This is the first en bloc site sold this year for a condominium development. Most of the other five sites sold this year are zoned mixed use or commercial."

"The six en bloc sites sold in the first quarter of 2012 amounted to $456.6 million, which registered the lowest volume over the last seven quarters," added Mr Tan.

Source: Channel News Asia

Click on link below to read our previous post about this collective sale:
http://sgproptalk.blogspot.com/2012/02/enbloc-news-bartley-grove-apartments.html

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The Real Deals (29-03-2012)

The latest issue of "The Real Deals" will interest those who are looking at condo developments along Flora Drive - the latest offering being Palm Isles.

The neighbourhood is getting alot more crowded, that's for sure!

The Real Deals (29-03-2012)

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The Real Deals (22-03-2012)

This issue is slightly more than a week old . It is especially for those who are interested in Parc Rosewood and Woodhaven.

The Real Deals (22-03-2012)

The wife and I did not visit the showflat of Parc Rosewood but you can find our review of Woodhaven by clicking on the link below:
http://sgproptalk.blogspot.com/2011/07/woodhaven-review.html

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