According to the Monetary Authority of Singapore, expansions and the high-demand for development in the region will ramp up financing and capital in Singapore. They have also pointed out that while more companies start more expansions, both globally and regionally, capital raising will increase the diversity of Asian assets.
Buyer & Seller Must Know
Sers is going to redevelop three of the MacPherson blocks
It is already known that the Selective En bloc Redevelopment Scheme or SERS is active and started changing the face of Singapore by revamping old residential units. Recently, it was announced that blocks with numbers starting with 81 and up to 83, inclusively, located on the MacPherson Lane, will enjoy the Sers transformation.
For the residents of these three blocks, the news is more than welcome, as it means that they will soon have the chance to move into brand new flats. Edward Chong, for example, who is a 48-years-old machine operator and just moved in a 3-room apartment in block 81 six months ago, is excited by this opportunity. He said that the flat, obtained with the support of the Housing Board, was rather old at the moment of purchase, so he and his family are happy to know that they will receive a newly renovated apartment in a modern building. With 49 years still left on the apartment’s lease, the compensation provided by Sers came at the right time, giving Mr. Chong the chance to fully renovate the unit without getting a dime out of his pocket.
It is worth mentioning that this Sers project is the first one since 2016, a year when the month of August brought it the last initiative of this kind. But Sers is far from being over, the blocks on MacPherson Lane earning their position within the project due to their considerable ages. Thus, there will be 313 apartments included in the renovation plan, all of them having approximately 50-years-old. Besides this, the two eateries and 27 shops that are part of these blocks will go through the same transformation. The last time Sers unrolled, 8 whole blocks were revamped and made to fit in the latest standards, which were located on the West Coast Road.
Buangkok
Buangkok is a neighbourhood situated in the north east part of the island. Its boundaries are fairly nebulous, but in general terms it covers parts of Sengkang and Hougang, specifically Compassvale and Trafalgar. Its name comes from the Chinese word for “united” and was given to the area by the Chinese who settled in the area.
History
Those Chinese farmers were the first people to really settle in the area now known as Buangkok. In the early part of the twentieth century, they started to move onto the land that was at the time largely made up of rubber plantations, and in fact the land was jointly owned by the state and the Singapore Rubber Plantation Ltd. Over the proceeding decades the area became a thriving neighbourhood made up of many different villages and kampongs. The Buangkok of today started to take shape in the last few years of the twentieth century as developers moved in, removing many of the original villages. Development continued over the years until by 2009 all but one of the kampongs had been cleared.
Kim Keat is the project that enjoys a high number of applicants for its future units
Kim Keat Beacon, located in Toa Payoh, is a residential unit that got a lot of attention lately, as soon as it was announced that it is going to be transformed into a Built-To-Order project. With a capacity of 542 units, all of them being flats with three and four rooms, ideal for families, this development attracted no less than 2,400 applicants. The Housing Board is in charge of the process while implementing new ways that will support young families to get a house faster. Overall, there were 3,970 units offered for sale this May, with a total number of applicants reaching 7,603.
But, in spite of the apparently good numbers, the key executive officer of ERA Realty, Mr. Eugene Lim, said that the number of applications was rather low in comparison with the sales launched in the recent past, which can be closely connected to the somewhat inconvenient locations of the units were provided. Concerning the popularity of Kim Keat Beacon, he said that it was expected from homebuyers to swarm in, as Toa Payoh was always among the most preferred residential areas. It provides a wide range of amenities and has a central location, allowing its residents to reach any destination in no time.
Decline in hiring cost of a foreign employee
Firms usually spend hundreds and thousands of dollars on employees’ hiring. This is because they want to find the perfect match. The perfect match who is able to perform the task for what they are hiring them for. It is costly but in the long run the firm face benefits from these employees who excel and thrive for success. Hiring expats used to be expensive because according to the firm logic these people were better trained, probably due to a greater exposure and knowledge learned.
Throughout the past year, hiring expatriates has become very flexible for the firm. By this what I mean is that they are cheaper to employ. The salaries have dropped dramatically. For example a fully skilled expat manger was to receive $235545 if it was 2016 but no happens to receive $223095. The reason as to why the worth of expatriates was in decline was due to two factors. One was that they belonged to prestigious countries like Europe and US but now p pole are being employed from all over the globe, even the third world countries. Secondly, they are now being treated just like other Singaporeans. This suggests that their salaries too have to be altered if they are now the equals.
Jurong Lake District left hanging at HSR’s decision
For the past few years, the Singaporean government had been allocating land for developments of the High Speed Rail (HSR). However, in recent news, the government is going to put a pause on some of these projects. The 12 hectares land in Jurong Lake District is being left on hold too. This leaves behind an empty hole in all the areas that await Malaysian leaders to reconsider the project developments.
Around 67 hectares of area in the Jurong Country Club (JCC) was set aside for the HSR to construct the Jurong East terminus on. This project was said to be a noticeable development that would advantage the business sector including hotels, restaurants, offices, etc. JCC also had a site reserved for the building of another golf club: Raffles Country Club (RCC). RCC is expected to be giving the land for these two 18-hole golf clubs by July 31. The club is 143 hectare in total. Unlike the initial stages of the agreement, they have to give in a bigger portion of their land for the development of HSR projects. However, all these projects are being affected by the recent rumors of HSR cancelation.
The sensitive matter of lease extensions
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.
Better infrastructure for the aviation sector will definitely help Asia develop
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
Property developers in Hongkong increases price of flats by up to 70%
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.
Treasure Troves Are Being Found In Vietnam For Buyers
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.
Buyers snap up 70 units at Le Quest Phase Two launch on Saturday
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.
Residential apartments Launched for Collective Sales In Singapore
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.
The prices for private homes will skyrocket in the following two decades
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.
First Tengah flats to be launched in November
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.
Purchase In 2017 By The UOL Group, Amber45 Residential Condos Has Launched
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.