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Issue 248

Copyright © 2011-2016 www.propwise.sg. All Rights Reserved.

CONTENTS

p2

Property Investment Strategy in the

Year of the Fire Monkey

p8

p10

Singapore Property News This Week

Resale Property Transactions (February 3 February 12)

FROM THE

EDITOR

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News.

SINGAPORE PROPERTY WEEKLY

Issue 248

Property Investment Strategy in the Year of the Fire Monkey

By Property Soul (guest contributor)

Last year I wrote about The Property Market

in the Year of the Goat. It‟s time to review the past year before talking about what to expect in the Year of the Monkey.

Year of the Goat: Enough bad news?

The strong earth element in the Wood Goat year posed a big challenge to the world economy. The disturbance in the global asset

market in the last six months was not for the

faint-hearted.

The disturbance in the global asset market in the last six months was not for the

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The disturbance in the global asset market in the last six months was not for the

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SINGAPORE PROPERTY WEEKLY Issue 248 It started with the crash of China‟s stock market and

SINGAPORE PROPERTY WEEKLY

Issue 248

It started with the crash of China‟s stock market and the sudden depreciation of the Chinese currency. Then the interest rate hike

by Federal Reserve caused a correction in

the emerging markets. The year ended with a steep fall of commodity prices, especially oil. And the Year of the Goat ended with the sharp decline of stock prices in January.

Investors who were unprepared were like lambs to the slaughter. Who can blame them? Even Warren Buffett‟s Berkshire Hathaway admitted they had the worst performance since 2009.

Year of the Monkey: Who can tell what’s next?

When financial analysts give very diverse

views on what 2016 will look like, this is a bad sign. It implies they are simply fulfilling their duty to speak for their company, but deep in

their heart, it‟s likely they don‟t have a clue either.

Those who make forecasts do not pledge to take back their words when they make the wrong guess. That‟s why we prefer to talk about „observations‟ here, not „predictions‟.

What do the traits of monkeys mean for the property market?

Monkeys have a few characteristics that can perhaps give us a glimpse of the property market in 2016.

Trait 1: Smart and Intelligent

According to URA, there are 5,736 launched but unsold private residential units and a total

of 23,271 unsold units from projects with

planning approvals. In 2016, there will be 22,351 new units to be completed. Finding the demand to clear the new and existing

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SINGAPORE PROPERTY WEEKLY Issue 248 stock in a lacklustre market is like mission impossible, unless

SINGAPORE PROPERTY WEEKLY

Issue 248

stock in a lacklustre market is like mission impossible, unless developers and marketing agents possess supernatural powers to play

magic tricks like the Monkey King.

Like monkeys with high intelligence, developers will be using more creative ways to push projects this year. To stand out from

competition, they have to attract buyers with

superior marketing, more aggressive discounts and better unique selling positions.

To avoid incurring extension charges and the

ABSD, developers will continue to use „clever‟

ways to tackle projects that still have unsold units beyond the stipulated timeframe, including selling to subsidiaries or corporate buyers in bulk, or delisting from the local

stock exchange.

Advice from Property Soul:

The same applies to the resale and rental

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market. Owners and landlords have to be realistic about their expectations. Smart ones know how to attract eyeballs online with nice

photos after home staging which drives

buyers or tenants to send in their offers.

Don‟t think you can get rid of the middleman during bad times. Don‟t skimp on

commissions paid to property agents.

Remember: When you pay peanuts, you get

monkeys.

Trait 2: Curious and Adventurous

The monkey year started with the plummeting of oil prices and the Japanese stock market. Lots of drama is still waiting to be unfolded.

Like monkeys which are adventure-loving animals, the high volatility of the market presents many opportunities for speculators. Many will be tempted to rush in and make a quick profit.

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SINGAPORE PROPERTY WEEKLY Issue 248 Others may be curious to know whether alternative investment strategies

SINGAPORE PROPERTY WEEKLY

Issue 248

Others may be curious to know whether alternative investment strategies can work. Never mind the fact they are purely

speculative. Monkey see, monkey do.

Advice from Property Soul:

1) Avoid getting your hands into any property you can‟t afford.

2) Avoid getting

investment you can‟t afford to lose.

your

hands

into

any

3) Avoid getting your hands into any scheme

you don‟t understand.

Trait 3: Mischievous and Cunning

Monkeys are clever. But they can use their intelligence in the wrong way.

Although monkeys live in groups, they are also known to be selfish and possessive. When a monkey finds good food, it produces

sounds to warn others of a tiger so that all monkeys run away and it can safely enjoy the food all by itself faking at its best.

During uncertain times, people tend to look for second incomes that appeal to the need for security. This is when deceitful high-return investments come into play.

appeal to the need for security. This is when deceitful high-return investments come into play. Back

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SINGAPORE PROPERTY WEEKLY Issue 248 Advice from Property Soul: Watch out for monkey business no

SINGAPORE PROPERTY WEEKLY

Issue 248

Advice from Property Soul:

Watch out for monkey business no matter how privileged or exclusive the opportunities sound. Beware of property projects or investment schemes that promise unrealistic returns. When they cannot pay out the high dividends they guaranteed, they can only do

two things: go bankrupt or run away.

Trait 4: Defensive and Well-prepared

Don‟t think that the long tails of monkeys are redundant. Tails are useful for monkeys to balance themselves with while climbing the trees or sitting on the branches.

Monkeys are known to use their cheek pouches to store extra food so that enemies have no way to steal it. Their two cheek pouches can store up to a full stomach‟s food.

Learn how to balance your investment portfolio and build in redundancy like the monkeys. All investors need an exit plan or

plan B to prepare for the worst. Be

conservative and ensure that you have more than enough holding power for your property investment.

Never test the depth of a river with both feet.

holding power for your property investment. Never test the depth of a river with both feet.

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SINGAPORE PROPERTY WEEKLY Issue 248 Advice from Property Soul: Don‟t waste time monkeying around with

SINGAPORE PROPERTY WEEKLY

Issue 248

Advice from Property Soul:

Don‟t waste time monkeying around with unprofitable or money-draining properties. Don‟t hesitate to cut loss if you need to. If you have to get a monkey off your back, talk to the bank first before you really need to.

"Banks will lend you umbrellas on a sunny

day, but they will take them back when it is pouring." This is my favorite line from

Hanzawa

popular Japanese

television series released in 2013.

Naoki,

a

My property investment strategy in the Year of the Monkey is to be defensive rather than aggressive. The most important thing this year is not return. It is to avoid losing money.

Less is more. Risk less and fail less.

May the Year of the Monkey be your Year of "Money"!

By guest contributor Property Soul, a

successful property investor, blogger , and

author of the Investment.

property investor, blogger , and author of the Investment . No B.S. Guide to Property Back

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SINGAPORE PROPERTY WEEKLY

Issue 248

Singapore Property This Week

Residential

Hougang EC site sold for $183.8 million

A 99-year leasehold site situated at Hougang/

Yio Chu Kang area attracted 10 bids in a

recently closed tender. The site was won by Hoi Hup Realty with a winning bid of $183.8 million or $331.02 psf ppr. The breakeven cost is estimated to be slightly above $700

psf and the targeted selling price will be close to $800 psf on average, said market experts. Last year, when the plot was launched, property consultants had predicted that the

winning bid would be in the range of $260 to

$340 psf ppr. Market experts also predicted that there would be 5 to 14 bids. The plot is

also predicted that there would be 5 to 14 bids. The plot is Back to Contents

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projected to be developed into 560 units. Of these units, about 70% will be three-bedroom apartments, 15% will be four-bedroom apartments and the rest will either be two- or

five-bedroom apartments. According to Ong

Kah Seng from R‟ST Research, the results of this tender do not reflect that developers are becoming positive. Instead, Ong believes that bid prices were higher due to the

location of the site. Ong Teck Hui from JLL added that an absence of new EC supply in that area and the significant potential demand catchment from nearby HDB estates

could have encouraged bidders to view the

site positively.

(Source: Business Times)

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SINGAPORE PROPERTY WEEKLY Issue 248 At least 4 GCBs sold since start of year According

SINGAPORE PROPERTY WEEKLY

Issue 248

At least 4 GCBs sold since start of year

According to the Business TImes, at least 4 Good Class Bungalows (GCBs) have been

sold since the start of this year. Among the

latest is a bungalow along Peirce Road that changed hands for about $24 million or $1,479 psf based on the freehold land area of 16,224 sq ft. The two-storey property which is located near Ridout Park was previously sold in 2006 for about $9.5 million. Other GCB transactions include a property at Mount Echo Park which changed hands for $22.25 million

or $1,322 psf on 16,826 sq ft of freehold land;

and another GCB along Yarwood Avenue was sold for $15.7 million or $971.35 psf. In 2015, more than $700 million of deals were transacted in GCB areas. This exceeded the $626 million that was transacted in 2014.

William Wong from Realstar Premier Group estimates that GCB prices had fallen by 10 to 15% in 2015. He predicts that prices will

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continue to slip in H1 this year due to an absence of positive stimulus. However, he believes that GCB prices will stabilise in H2 this year.

(Source: Business Times)

TOP awarded to Tampines EC

The first hotel-inspired EC project, CityLife@Tampines has been awarded the temporary occupation permit (TOP). The EC which was launched in 2012, consists of 514

units. About 90% of the units were fully sold

during its launch in March 2013. The EC will

offer hotel-inspired features such as home concierge service, an infinity pool and even complimentary WiFi at common areas. Market experts believe that the hotel-inspired facilities and the strategic location of the

condo had contributed to its appeal.

(Source: Business Times)

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SINGAPORE PROPERTY WEEKLY

Issue 248

Non-Landed Residential Resale Property Transactions for the Week of Feb 6 Feb 12

Postal

District

 

Area

Transacted

Price

 

Project Name

(sqft)

Price ($)

($ psf)

Tenure

ALTEZ

603

1,210,000

2,007

99

THE INTERLACE

2,347

2,730,000

1,163

99

THE RITZ-CARLTON RESIDENCES SINGAPORE CAIRNHILL

3,057

11,600,000

3,795

FH

TWENTYONE ANGULLIA PARK

3,348

12,052,800

3,600

FH

THE RITZ-CARLTON RESIDENCES SINGAPORE CAIRNHILL

3,057

10,600,000

3,467

FH

THE LAURELS

883

2,388,000

2,705

FH

THE PATERSON

1,464

2,780,000

1,899

FH

WATERSCAPE AT CAVENAGH

1,216

2,288,555

1,882

FH

LEONIE SUITES

689

1,195,000

1,735

99

UE SQUARE

1,625

2,250,000

1,384

929

CASA NOVACREST

1,582

2,000,000

1,264

FH

ST REGIS RESIDENCES SINGAPORE

2,142

4,700,000

2,194

999

THE LADYHILL

3,843

7,400,000

1,926

FH

D'LEEDON

635

1,085,000

1,708

99

SPRING GROVE

1,012

1,550,000

1,532

99

JEWEL OF BALMORAL

1,345

1,950,000

1,449

FH

BEAVERTON COURT

3,229

4,250,000

1,316

FH

THE BALMORAL

2,885

3,650,000

1,265

FH

DUCHESS CREST

1,561

1,900,000

1,217

99

CUBE 8

904

1,450,000

1,604

FH

IRESIDENCES

1,066

1,330,000

1,248

FH

THE ARTE

1,873

2,200,000

1,175

FH

1,604 FH IRESIDENCES 1,066 1,330,000 1,248 FH THE ARTE 1,873 2,200,000 1,175 FH
1,604 FH IRESIDENCES 1,066 1,330,000 1,248 FH THE ARTE 1,873 2,200,000 1,175 FH
1,604 FH IRESIDENCES 1,066 1,330,000 1,248 FH THE ARTE 1,873 2,200,000 1,175 FH
1,604 FH IRESIDENCES 1,066 1,330,000 1,248 FH THE ARTE 1,873 2,200,000 1,175 FH
1,604 FH IRESIDENCES 1,066 1,330,000 1,248 FH THE ARTE 1,873 2,200,000 1,175 FH
1,604 FH IRESIDENCES 1,066 1,330,000 1,248 FH THE ARTE 1,873 2,200,000 1,175 FH
1,604 FH IRESIDENCES 1,066 1,330,000 1,248 FH THE ARTE 1,873 2,200,000 1,175 FH
1,604 FH IRESIDENCES 1,066 1,330,000 1,248 FH THE ARTE 1,873 2,200,000 1,175 FH
1,604 FH IRESIDENCES 1,066 1,330,000 1,248 FH THE ARTE 1,873 2,200,000 1,175 FH
1,604 FH IRESIDENCES 1,066 1,330,000 1,248 FH THE ARTE 1,873 2,200,000 1,175 FH
1,604 FH IRESIDENCES 1,066 1,330,000 1,248 FH THE ARTE 1,873 2,200,000 1,175 FH
1,604 FH IRESIDENCES 1,066 1,330,000 1,248 FH THE ARTE 1,873 2,200,000 1,175 FH
1,604 FH IRESIDENCES 1,066 1,330,000 1,248 FH THE ARTE 1,873 2,200,000 1,175 FH
1,604 FH IRESIDENCES 1,066 1,330,000 1,248 FH THE ARTE 1,873 2,200,000 1,175 FH
1,604 FH IRESIDENCES 1,066 1,330,000 1,248 FH THE ARTE 1,873 2,200,000 1,175 FH
1,604 FH IRESIDENCES 1,066 1,330,000 1,248 FH THE ARTE 1,873 2,200,000 1,175 FH
1,604 FH IRESIDENCES 1,066 1,330,000 1,248 FH THE ARTE 1,873 2,200,000 1,175 FH
1,604 FH IRESIDENCES 1,066 1,330,000 1,248 FH THE ARTE 1,873 2,200,000 1,175 FH
1,604 FH IRESIDENCES 1,066 1,330,000 1,248 FH THE ARTE 1,873 2,200,000 1,175 FH
1,604 FH IRESIDENCES 1,066 1,330,000 1,248 FH THE ARTE 1,873 2,200,000 1,175 FH
1,604 FH IRESIDENCES 1,066 1,330,000 1,248 FH THE ARTE 1,873 2,200,000 1,175 FH
1,604 FH IRESIDENCES 1,066 1,330,000 1,248 FH THE ARTE 1,873 2,200,000 1,175 FH
FH THE ARTE 1,873 2,200,000 1,175 FH Back to Contents Postal District Project Name Area

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Postal

District

Project Name

Area

Transacted

Price

(sqft)

Price ($)

($ psf)

Tenure

CRADELS

1,313

1,150,000

876

FH

THE BELLEFORTE

1,658

1,350,000

814

FH

KIM KEAT HOUSE

1,066

820,000

769

FH

WATERBANK AT DAKOTA

1,130

1,710,000

1,513

99

STUDIO8

495

683,100

1,380

FH

SUITES @ EASTCOAST

366

580,000

1,585

FH

PARC ELEGANCE

431

600,000

1,394

FH

SUITES @ AMBER

840

1,050,000

1,251

FH

SANCTUARY GREEN

1,711

2,000,000

1,169

99

TANJONG RIA CONDOMINIUM

1,399

1,520,000

1,086

99

CRESCENDO PARK

1,345

1,438,888

1,069

FH

PEBBLE BAY

1,378

1,450,000

1,052

99

EASTVILLE APARTMENTS

1,001

980,000

979

FH

ALPHA APARTMENTS

1,152

1,128,000

979

FH

THE BAYSHORE

1,259

1,180,000

937

99

NV RESIDENCES

743

800,000

1,077

99

TAMPINES COURT

1,690

830,000

491

101

A

TREASURE TROVE

1,130

1,168,000

1,033

99

A TREASURE TROVE

1,335

1,350,000

1,011

99

A TREASURE TROVE

1,206

1,208,000

1,002

99

PARC VERA

1,141

1,080,000

947

99

THE QUARTZ

1,163

1,078,000

927

99

1,002 99 PARC VERA 1,141 1,080,000 947 99 THE QUARTZ 1,163 1,078,000 927 99
1,002 99 PARC VERA 1,141 1,080,000 947 99 THE QUARTZ 1,163 1,078,000 927 99
1,002 99 PARC VERA 1,141 1,080,000 947 99 THE QUARTZ 1,163 1,078,000 927 99
1,002 99 PARC VERA 1,141 1,080,000 947 99 THE QUARTZ 1,163 1,078,000 927 99
1,002 99 PARC VERA 1,141 1,080,000 947 99 THE QUARTZ 1,163 1,078,000 927 99
1,002 99 PARC VERA 1,141 1,080,000 947 99 THE QUARTZ 1,163 1,078,000 927 99
1,002 99 PARC VERA 1,141 1,080,000 947 99 THE QUARTZ 1,163 1,078,000 927 99
1,002 99 PARC VERA 1,141 1,080,000 947 99 THE QUARTZ 1,163 1,078,000 927 99
1,002 99 PARC VERA 1,141 1,080,000 947 99 THE QUARTZ 1,163 1,078,000 927 99
1,002 99 PARC VERA 1,141 1,080,000 947 99 THE QUARTZ 1,163 1,078,000 927 99
1,002 99 PARC VERA 1,141 1,080,000 947 99 THE QUARTZ 1,163 1,078,000 927 99
1,002 99 PARC VERA 1,141 1,080,000 947 99 THE QUARTZ 1,163 1,078,000 927 99
1,002 99 PARC VERA 1,141 1,080,000 947 99 THE QUARTZ 1,163 1,078,000 927 99
1,002 99 PARC VERA 1,141 1,080,000 947 99 THE QUARTZ 1,163 1,078,000 927 99
1,002 99 PARC VERA 1,141 1,080,000 947 99 THE QUARTZ 1,163 1,078,000 927 99
1,002 99 PARC VERA 1,141 1,080,000 947 99 THE QUARTZ 1,163 1,078,000 927 99
1,002 99 PARC VERA 1,141 1,080,000 947 99 THE QUARTZ 1,163 1,078,000 927 99
1,002 99 PARC VERA 1,141 1,080,000 947 99 THE QUARTZ 1,163 1,078,000 927 99
1,002 99 PARC VERA 1,141 1,080,000 947 99 THE QUARTZ 1,163 1,078,000 927 99
1,002 99 PARC VERA 1,141 1,080,000 947 99 THE QUARTZ 1,163 1,078,000 927 99
1,002 99 PARC VERA 1,141 1,080,000 947 99 THE QUARTZ 1,163 1,078,000 927 99
1,002 99 PARC VERA 1,141 1,080,000 947 99 THE QUARTZ 1,163 1,078,000 927 99

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SINGAPORE PROPERTY WEEKLY

Postal

District

  Area Transacted Price   Project Name (sqft) Price ($) ($ psf) Tenure CHILTERN PARK
 

Area

Transacted

Price

 

Project Name

(sqft)

Price ($)

($ psf)

Tenure

CHILTERN PARK

1,249

1,110,000

889

99

RIVERVALE CREST

1,668

980,000

587

99

COUNTRY GRANDEUR

1,442

1,520,000

1,054

FH

BISHAN POINT

936

950,000

1,014

99

JARDIN

1,259

1,400,000

1,112

FH

SIGNATURE PARK

1,033

1,145,000

1,108

FH

SOUTHAVEN II

1,507

1,500,000

995

999

HIGH OAK CONDOMINIUM

1,658

1,180,000

712

99

THE LAKEFRONT RESIDENCES

710

968,000

1,363

99

THE LAKEFRONT RESIDENCES

710

930,000

1,309

99

HAZEL PARK CONDOMINIUM

1,378

1,285,000

933

999

MAYSPRINGS

915

805,000

880

99

BULLION PARK

1,238

1,250,000

1,010

FH

BULLION PARK

807

810,000

1,003

FH

ORCHID PARK CONDOMINIUM

893

690,000

772

99

ORCHID PARK CONDOMINIUM

980

710,000

725

99

FH ORCHID PARK CONDOMINIUM 893 690,000 772 99 ORCHID PARK CONDOMINIUM 980 710,000 725 99
FH ORCHID PARK CONDOMINIUM 893 690,000 772 99 ORCHID PARK CONDOMINIUM 980 710,000 725 99
FH ORCHID PARK CONDOMINIUM 893 690,000 772 99 ORCHID PARK CONDOMINIUM 980 710,000 725 99
FH ORCHID PARK CONDOMINIUM 893 690,000 772 99 ORCHID PARK CONDOMINIUM 980 710,000 725 99
FH ORCHID PARK CONDOMINIUM 893 690,000 772 99 ORCHID PARK CONDOMINIUM 980 710,000 725 99
FH ORCHID PARK CONDOMINIUM 893 690,000 772 99 ORCHID PARK CONDOMINIUM 980 710,000 725 99
FH ORCHID PARK CONDOMINIUM 893 690,000 772 99 ORCHID PARK CONDOMINIUM 980 710,000 725 99
FH ORCHID PARK CONDOMINIUM 893 690,000 772 99 ORCHID PARK CONDOMINIUM 980 710,000 725 99
FH ORCHID PARK CONDOMINIUM 893 690,000 772 99 ORCHID PARK CONDOMINIUM 980 710,000 725 99
FH ORCHID PARK CONDOMINIUM 893 690,000 772 99 ORCHID PARK CONDOMINIUM 980 710,000 725 99
FH ORCHID PARK CONDOMINIUM 893 690,000 772 99 ORCHID PARK CONDOMINIUM 980 710,000 725 99
FH ORCHID PARK CONDOMINIUM 893 690,000 772 99 ORCHID PARK CONDOMINIUM 980 710,000 725 99
FH ORCHID PARK CONDOMINIUM 893 690,000 772 99 ORCHID PARK CONDOMINIUM 980 710,000 725 99
FH ORCHID PARK CONDOMINIUM 893 690,000 772 99 ORCHID PARK CONDOMINIUM 980 710,000 725 99
FH ORCHID PARK CONDOMINIUM 893 690,000 772 99 ORCHID PARK CONDOMINIUM 980 710,000 725 99
FH ORCHID PARK CONDOMINIUM 893 690,000 772 99 ORCHID PARK CONDOMINIUM 980 710,000 725 99
FH ORCHID PARK CONDOMINIUM 893 690,000 772 99 ORCHID PARK CONDOMINIUM 980 710,000 725 99

NOTE: This data only covers non-landed residential resale property transactions with caveats lodged with the Singapore Land Authority. Typically, caveats are lodged at least 2-3 weeks after a purchaser signs an OTP, hence the lagged nature of the data.

least 2-3 weeks after a purchaser signs an OTP, hence the lagged nature of the data.

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Issue 248

least 2-3 weeks after a purchaser signs an OTP, hence the lagged nature of the data.

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