Month: May 2018

While Singapore enjoys a significant number of residential units, there are still plenty of flats that are rather old at the moment. Some say that lease extensions available automatically would be the best choice for this particular flats, while others believe that such a decision will bring along a set of consequences that need to be discussed and thoroughly analyzed. So, these days, Lawrence Wong, who is the National Development Minister, made some public statements that also included cautions concerning this matter.

He said that from his position, it is rather easy to make a few neutral statements and postpone more serious discussions about this subject, but because this is something that will trigger the appearance of a variety of ramifications, which cannot be ignored, a detailed assessment is more appropriate. The first aspect he mentioned is the fact that a lease extension is not something wished by everyone. Secondly, old HDB flats require a significant amount of maintenance as well, which means increased costs for their owners. Finally, Singapore still has serious space issues, in spite of the careful planning and strict regulations concerning the development of new structures.

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This is what Mr. Liew Mun Leong strongly believes, who is the chairman of two airports, the Surbana Jurong and Changi Airport Group. The truth is that it’s not a secret the fact that many people choose airplanes to travel around the world fast and comfortable. This form of transportation became more affordable in the past years, so regardless if we are talking about business or leisure travel, the aviation allows people to reach even the furthest locations on the globe. This is why from Mr. Leong’s point of view, the economic development of countries in Asia depends on a good infrastructure, and not just when it comes to roads, but also when it comes to aviation infrastructure. Read more

Over the last six years, Hong Kong has gone through a series of excellent establishment. It has shown great signs of growth and development that has shocked the world. The GDP of Hong Kong has also grown massively and because of that the property, employment and the overall outlook of Hong Kong has increased in the eyes of the world.

This maybe a great sign of success but with this it has greatly affected the property, in particular the prices of the property. The land overall prices have risen compared to the previous years. This could be worrying for the general public.

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Property prices in Vietnam are very low and this is getting the attention of many buyers in China and Hong Kong.  Because the cost for property is so much lower than those in Thailand and Singapore, there is no limit of interested buyers and investors.

Last year, Taiwan and Hong Kong brought in 25% of Southeast Asia’s foreign buyers which is up by 4% from 2016.

Another attraction to property in Vietnam, buyers with limited overseas assets are purchasing properties and diversifying their investments.  Reports have shown that the demand for property in Vietnam was higher in the first quarter of this year which is approximately 300% higher than in 2017.  Vietnam is still not the ideal place for buyers but that could be changing very soon.

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Le Quest Phase Two launched recently and the thing to note here is that this sold around 70 units during the next day. The Qingjian company offered around 115 units for sale in total and they did end up selling around 80 of them until the end of the week.

No matter if it’s a record or not, it goes to show that the Le Quest Phase Two project comes with a lot of promise. And that is a very good thing, because it brings a lot of value to people and it offers great location, plenty of space and other great feature.

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Several residential sites have been put up for En bloc Sales buy its sellers and they are worth well over 1.2 billion in total.

About Cavenagh Gardens:

Cavenagh Gardens is a 17 story condo development that is within minutes to the Somerset MRT station and nearby Fort Canning and Istana Parks.  This development is a perfect location that is surrounded by many amenities including restaurants, boutiques, banks and so much more plus all are within walking distance.  It also has its own 24-hour security car park.  Out of the properties just launched, this one has the highest asking price of $480 million.

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The predictions concerning the private home market for the following 20 years is not that great, as prices are seen to considerably increase in the near future. If currently the price for a square foot, of a private property, is on average around $1,500, then by 2030 the prices are expected to range anywhere between $2,300 and $2,900.

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The latest news that has broke right now is that the first flats in the Tengah town will be launched in November. It will be a huge offering of around 1500 units with different flat types, according to Lawrence Wong, the Minister for National Development. They are supporting the idea of having Tengah flats, and it’s actually a good option to consider here.

The plan is to create a large Tengah town with around 700 hectares. It will be pedestrian friendly and it will also have a town center without cars. The premise here is a nice one, and it really goes to show the tremendous value and great opportunities. They also want to add lots of biodiversity and greenery in there, which is easy to understand why.

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The Amber 45 condo is the latest launch going for $2,200 psf and very quickly being grabbed up by buyers. 80 of the 139 units have been sold and 94% of these buyers are Singaporeans. Located in the East Coast area, the freehold site was purchased for $156 million in January 2017. Amber45 is situated between two outstanding residences, the Sea View and Shore Residences. Many believe that such a quick reaction is due to its luxurious facilities and excellent location.

UOL Singapore is the developer of Amber45 and has a proven track record for over 50 years. They are well-known for providing an excellent service, the best development practices, and Amber45 is no exception. Other projects that UOL has developed include Clement Canopy and Principal Garden that are considered the best of the best.

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While there was some kind of increase in the prices of private homes, the chances were not that significant from one quarter to another, until recently. 2018 brought along a lot of surprises, one of them being the increase of 3.9% recorded in the case of homes belonging to the private residential sector. According to the information released by the Urban Redevelopment Authority, or URA, the estimated increase was of only 3.1%, no one expecting such a consistent increase. This is the most abrupt increase since 2010, the last time when prices grew in an unexpected manner, reaching a peak of 5.3%.

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One of the largest developers in Thailand, Sansiri, has announced one of their new luxury condos 98 Wireless just sold for $2.2 million. Word has it, the 25-story 98 Wireless is the finest luxury residential projects in all of Bangkok with absolutely no competition. 98 Wireless sits in the heart of the capital city surrounded by luxury malls, five-star hotels, and lush landscaping. Selling at $17,576 per square foot, making this residential skyscraper one of the most expensive properties in all of Bangkok.

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It is well-known the fact that the use of bicycles are encouraged in Singapore, as they are an eco-friendly mean of transportation, keeping the air clean, and helping people lead an active lifestyle. This is why the future developments will be required to offer a parking space dedicated to bicycles so that people will have a convenient area where they can keep their green two-wheeled transportation mean. The Land Transport Authority or LTA is responsible for the introduction of this new standard, in the attempt of the authorities to encourage a cleaner atmosphere in Singapore. The new changes were announced on the 7th of May, through the URA circular.

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It is not a secret that the prices of apartments in Hong Kong reached values that are hard to meet by most investors these days, due to the impressive demand. But, what can one do if he or she has some money for investments? Apparently, the best move at the moment is to put money in parking lots.

How come this is such a good choice?

Well, only in the past year and a half, the value of parking lots doubled. Esther Fan, a woman that owns two parking lots in an old residential neighborhood enjoyed an increase of almost HK$90,000, which means US$272,630, as her lots jumped from HK$720,000 to the incredible value of HK$1.6 million.

If we are to look at these numbers, it is easier to see that it is more profitable to invest in parking lots, as the speed at which their value increases is considerably faster than the increase recorded by apartments. In the case of apartments, it took more than 7 years for them to reach a value growth of 120%, as the Centaline Property Agency showed through the data it released. Thus, if between 2010 and 2017, the prices of homes doubled in Hong Kong, the prices of parking lots tripled during the same period, especially those placed in residential areas. But, in spite of the fact that apartments are quite expensive in Hong Kong, their value never exceeds a growth of 100% during a whole year. When it comes to parking lots, that’s an entirely different story, as their increase in value easily goes beyond 100% in one year, as Mrs. Fan noticed.

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Singapore is a small country but its population is quite large as compared to the square foot area of the country. The government has been constantly accommodating people by providing them with basic necessities of life, which also includes housing facilities.

Sotheby’s checked on the current government land sales (GLS) local plots and additionally checked those fruitful aggregate deals and made a rough estimation of a time of nine to a year for the GLS locations to get all arranging endorsements preliminary to being launched and available to be purchased. They also estimated a time frame of 15 to year and a half for the aggregate purchasing of sites

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According to the CSC land group, it seems that there was a very powerful response when the Twin VEW apartments launched recently. This massive new launch condominium has 520 apartments, and the buyers already got 442 of them, including 4/6 of the penthouses. Read more