Author: My Exclusive Condo

Something new and spectacular will soon emerge at Kent Ridge Hill

My Exclusive Condo Upcoming Development Plan

It can be rather challenging to merge concrete developments with a natural and serene setting, but the developer in charge with the new condominium that will emerge at Kent Ridge Hill is determined to make it happen. ADDP Architects got this project from Oxley Holdings, who is looking to come up with the ideal urban escape, both for families and couples alike.  Why is this location so special? It promises to provide all the comfort of a modern lifestyle together with the peacefulness of living in a green environment.

 

The truth is that when it comes to greenery, you’ll barely find any other place that can offer the same amount of green space and views like the ones found at Kent Ridge Hill. According to the developers, all the condos in the new development will be designed so that they will offer stunning views to their owners. How many units will be available? 548 is the number that is aimed by the development company, as 11 blocks and 50 landed houses are part of the project. Homebuyers will be able to choose between units with one single bedroom and up to units with three bedrooms, suitable for families. For those that wish to enjoy more space, 3 and 5 bedroom penthouses will also be available. Thus, it will only be a matter of personal perspective. To make sure that the gorgeous views can be enjoyed, most of the units are designed to be above the road, for an elevated position that will definitely offer a clearer horizon.

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Launching of upcoming development in West Singapore

My Exclusive Condo Buyer & Seller Must Know

CDL to preview highly anticipated whistler grand. The latest residential launch in West Coast
Last weekend Whistler Grand which is proudly developed by the City Development limited is launching their showflat for VVIP preview. This is a residential scheme which is being launched on the West Coast of Singapore. Its location is such that connects it with the Jurong Lake District, which is known as the second best Central district in Singapore.

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Should I Buy a Private Condo or Resale HDB?

My Exclusive Condo Buyer & Seller Must Know

There is a growing number of people in Singapore who are faced with just this dilemma. Those who fall between the gap by earning too much money to enable them to buy a BTO, but purchasing an apartment in a private condo is just too much of a stretch for them to be 100% comfortable with. In the middle of this of course is the option of buying a resale HDB. Many of those, rightly or wrongly, see a private condo as the best option, but it is just a case of whether or not the sacrifices and the tightening of other budgets are worth it.

Private Condo or Resale HDB
Private Condo or Resale HDB

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As a result of cooling measures, the price rise in the private home sector slows down

My Exclusive Condo Buyer & Seller Must Know

As a result of cooling measures, the price rise in the private home sector slows down

According to the estimates released by the Urban Redevelopment Authority, or URA, the prices of private homes barely managed to rise a 0.5% in the period between July and September, in comparison with the latest three-month period. This more than obvious slowing down of price increases is due to the fact that the authorities of Singapore introduced a set of cooling measures back in July, this year. Considering that the second quarter brought rises of 3.4% in this sector and that the first quarter recorded rises of 3.9% the slowing down in the third quarter is noticeable.

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A Record High Top Bid for EC Land by CDL-TID Joint Venture

My Exclusive Condo Upcoming Development Plan

It has been reported that executive condominium segment was facing a huge shortage in supply. During the last years, the number of EC units sold by the developers amounted to 4,011. Despite this shortage in supply, 17 bids were fetched by an executive condominium (EC) site at a state tender. This site is located in SumangWalk in Punggol and the tender closed this Tuesday. Housing and Development Boardwas given the responsibilityof conductingthis tender. The board was also state’s acting Land sales agent.

These 17 bids in question have said to broken the previous bidding record in EC land. The site for which the record was made is Lake Life Site. It is located in Yuan Ching Road/Tao Ching Road. The record was made in July 2013.

 

Out of these 17 bids, the top bid was made by a joint venture of TID Residential (owned by TID Pte Ltd) and CDL Constellation (a subsidiaryof City Developments). The value of this top bid is S$509.37 million and it is a record in itself with regards to psfpprworth S$583.

 

The top bid made for this EC site in Sumang Walk is 64% higher as compared to the last top bid placed in August 2016. for the Anchorvale Lane. The value of its top bid was S$355 psfppr.

 

The second highest bid was recorded as S$486 million, 4.8% lower than the top bid. It was made by Qingijiang Realty. The thirdspot, in the top bid rankings, was jointly held by Soilbuild Group Holdings and Yanlord Singapore Residential. They offered S$450 million for this EC site. It was followed by a bid of S$446.6 million from a joint venture of Sunway Developments and Hoi Hup Realty.

 

An S$431.69 million bid was placed by Changi Properties, Sing Development, and FEC properties jointly. Next came a joint venture of Gamuda (Singapore) and Evia Real Estate as they placed the bid of S$426.37 million. MCC Land (Singapore) placed a bid of S$413.7 million and the lowest (S$373.81) was placed by Ho Bee Land unit HB Lombard.

 

The reason for these record-breaking bids, as per analysts, is said to be the lack of new EC sites in the market. During the last year, there was only one EC site offered in the GovernmentLand Sales Programme for sale, which is The Sumang Walk. As per Ong Teck Hui, JLL national director, these bids proved to be higher than their expectations. He is of the view that since last 1.5 year, there was no EC land tender. It contributed to the record-breaking bids. Othercontributions, as per his views, were made by a noted surge in the privateresidential market and unsold stock in the undersupplied market. It is assumed that the prices of EC are expected to rise by 20% by the completion of this project.

 

The top bidder of this project, CDL will be handling their 9thEC project. They have a positive outlook for this project. Sherman Kwek, CE of CDL, is of the view that the company has confidence in this project. They believe it is going to be successful due to its ideal location and various other features i.e. close proximity to various stations, easy accessibility, and various other amenities.

 

 

The article below might give you a more information on this EC land land bid

https://www.businesstimes.com.sg/real-estate/cdl-tid-joint-ventures-top-bid-for-punggol-site-sets-record-for-ec-land

 

You might be interested in this:

Executive Condos: A Good Investment?

 

 

 

Think that the prices of EC and new launch private condos are getting closer? Take a look at some of our latest new launch condo in Singapore,

The Government may join forces with Private Developers for the improvement of older homes

My Exclusive Condo Buyer & Seller Must Know

It is well known that the Government is looking for the best ways to redevelop homes that are growing older. So, when they reach their age limit, they can be transformed into new homes that meet modern requirements of quality and comfort much better. The plan includes the units leased by the Housing Board on long periods, like those on a 99-years lease. Of course, there is still time for many of these homes, but the authorities want to make sure that everything is set in place and best solutions are found before the re-development process actually begins.

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When is the Best Time to Buy a Condo?

My Exclusive Condo Buyer & Seller Must Know

That is the million dollar question (often literally). A better one might well be is there a best time to buy a condo? The answer to that is yes, but it almost certainly is different depending on your circumstances, why you are looking to buy, where and what you are looking to buy. That is why you can ask a dozen people, and look at another dozen articles asking when is the best time to buy and you will end up with 24 conflicting answers.

 

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EC Site at Canberra Link Emerges Winner among GLS

My Exclusive Condo Buyer & Seller Must Know

 

The property market, in the recent past, hasn’t been exactly showing the expected warm results. It was evident in the bidding activity that took place in three tenders for executive condominium (EC) land sites. These tenders closed yesterday. Among these EC sites, Housing Board’s site, located at Canberra Link, emerged out victorious as it received the maximum number of bids.

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The private property market in Singapore recorded a significant decline

My Exclusive Condo Buyer & Seller Must Know

 

The month of September didn’t look so good for developers activating in the private property market, as the number of units they managed to sell was significantly lower than the one recorded in the previous months. Thus, if they succeeded in selling 1,724 units in July, recording a drop of 64.3%, and 1,246 units in August, with a drop of 50.6%, in comparison with September when they managed to sell just 616 units so far. According to specialists, this decrease was generated by two factors. First there were the cooling measures of July, meant to slow down the increasing demand coming from homebuyers. Secondly, August brought in the Hungry Ghost Festival, a period in which very many people stay away from making investments in new properties.

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Site in Sengkang Central grabbed by the joint forces of CapitaLand and CDL

My Exclusive Condo Buyer & Seller Must Know

A site in Sengkang Central was just grabbed by the joint forces of CapitaLand and CDL

A site with a mixed destination, meaning that it offers both residential and commercial spaces, was just grabbed by a team formed out of CapitaLand and CDL. These two developers spotted the incredible potential of this site and decided that it is worth to join forces and get their hands on the deal. The tender price for this particular opportunity reached the sum of $777.78 million, but considering its location in Sengkang Central and the fact that transportation is great in the area, it is easy to understand that the site has an amazing potential.

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ABSD Rates Increased as Government Concern Grows

My Exclusive Condo Buyer & Seller Must Know

 

The government has just announced (July 5th) that it is increasing ABSD rates while tightening its loan to value (LTV) limits. This has come on the back of a welcomed improvement in the housing market, with many developers preparing themselves for profitable times ahead. Looking behind the headlines however, it is not all bad news, with many buyers being unaffected by the changes.

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The Pros & Cons of Airbnb in Singapore

My Exclusive Condo Buyer & Seller Must Know

 

 

The debate surrounding Airbnb in Singapore has been raging for a while, and there is no sign that it is going away any time soon. People on both sides of the argument have been taking to social media and the numerous online forums to put over their case, and there is certainly merit to both camps. The government has recently got involved but that has only served to intensify the debate, and if anything, muddy the waters.

AirBnB
Would you want to rent out your apartment via Airbnb?

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The Ministry of National Development just revised the Development Charge

My Exclusive Condo Buyer & Seller Must Know

The Ministry of National Development just revised the Development Charge

Every half a year, the Ministry of National Development unrolls a consultation with the Chief Valuer on various subjects. The Development Charge, or DC, was among the aspects discussed and the results led to a revision of this particular charge. Thus, the development charge for both the Groups A, which are the commercial developments and B2, which represent the non-landed residential developments, has increased after the previously mentioned consultation. For the other groups listed by the Ministry of National Development, this particular charge remained unchanged, so it will stick to the same values as it did so far.

 

But, just how much the Development Charge increased from the A and B2 group? For the A Group, representing the commercial developments, the DC values increased, on average, with 2.7%. More precisely, out of the total of 118 sectors available, 41 of them suffered increases ranging between 4 to 16%. Still, this also means that the rest of the 77 sectors will remain unchanged, so the charge will be the same as it was in this case. The biggest increase, of 16%, will be applied to Sectors 1, 2, 3, 5, and 6.

 

The B2 group, however, which is the group of non-landed residential developments, got an even bigger increase. Thus, on average, the developments in these groups will now have to face an increase of 22.8%. In this case, out of the total of 118 sectors, a number of 116 will deal with increases ranging between 12 to 38%. Only 2 sectors will keep its Development Charge unchanged in this particular group. In case you are wondering when these changes will become effective, it is worth knowing that they became active starting with the 1st of March 2018.

 

All cases that will obtain the Provisional Permission or additional extensions will be subjected to these set rates of the DC. You can find both the revised rates and groups table, adjusted and revised, on the website of the Ministry of National Development, under the form of appendixes. In case owners and developers notice any differences between the DC rates that were calculated for their properties or developments and the values mentioned in the Use Groups table, it is possible to schedule an evaluation meeting with the Chief Valuer. This way, the case will be searched in detail to see which triggered the differences that emerged, according to the active Planning Act.

 

https://www.mnd.gov.sg/newsroom/speeches/view/revision-of-development-charge-rates-2018

First Asian Data Centre by Facebook to be Built in Singapore

My Exclusive Condo Buyer & Seller Must Know

With a hefty investment of over $1.4, a data centre by Facebook is slated to be built in Singapore. It is going to be an 11-storey facility spanning over an area of 170,000 sqm. This first of its kind data centre in Singapore has the potential to offer plenty of job opportunities. The announcement of this data centre was made by the top social media platform – Facebook on 6th September. Fortis Construction has been elected as the general contractor of this project. The reason they are given the responsibility of completing this project is their prior experiences of working together in building different data centres.

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