Jul 20

The Alps Residences at Tampines MRT Station

The Alps Residences are a development of executive condos on Singapore island. The construction of the complex began after the developers successfully bid for the plot of land with the Urban Redevelopment Authority. The lease of the land is for the standard length term of 99 years. The winning bid came in from the company MCC Land, which has already completed other similar projects on Singapore.

The Alps Residences MCC Land Singapore

Now MCC Land were eager to win the tender for the plot of land that the Alps Residences will stand on as they and other real estate firms were convinced that the units would sell really well once completed. In the last two or three years those firms that have completed housing projects mainly consisting of executive condos in high rise tower blocks have generally been able to sell enough units to make a decent level of profit. The better the location of completed condo developments the stronger sales have been. Sales of higher quality condos even seem to have sold strongly when other types of property have proved harder to sell in challenging market conditions.

Alps Residences Tampines Ave 10

As far as MCC Land were concerned bidding for the land plot at Tampines Avenue 10 was far too good an opportunity to be missed. The location of the Alps Residences are regarded as been in a great position in terms of the company been able to sell the great majority of the units as soon as these go on sale. To keep up to date with the progress of this development keep referring to it’s website. Once show condos are ready people will be able to book viewings to see the high standard of this complex.
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May 04

Queens Peak Valleypoint Shopping Centre

Queens Peak is a building development by MCC Land, which is a Singapore based firm. It is a firm that has been responsible for the construction of several residential and retail projects on the island since 2010. MCC Land won the bid to build housing on the land parcel at Queens Peak. In recent times the Singapore government has made land parcels available for housing or retail development projects near Management Development Institute of Singapore (MDIS) and Crescent Girl’s School. Without these projects construction and real estate would have been severely hit by the global recession. Yet these projects have kept the building industry ticking over.

Queens Peak Condo MCC Land

Experience has shown firms like MCC Land that involvement in Singapore construction projects can make them profits depending on the location of the development itself. When the land parcels are located in prime real estate areas then more property development and construction companies bid to win the 99 year lease and complete the project. The facilities in the local area and the ability of future residents to commute to the city centre mean the prices that could be achieved would provide a good return on the investment for condos near to Queensway Shopping Centre and Ikea Alexandra.

Singapore MCC Land Queens Peak

MCC Land placed the highest bid for the housing development at Queen Peak as they believed it is in a good location in terms of commuting / transport links, local infrastructure, and closeness to the city centre. On the back of strong sales of housing units in similar locations across Singapore MCC Land was confident that the executive housing at Queens Peak would sell strongly.

Ikea Alexandra Queens Peak HY Realty

Whilst MCC Land have yet to announce the exact pricing of the housing units at Queens Peak they anticipate that the final asking price will still mean that the units will sell strongly, ensuring a decent return on their investment. These units are of a really high quality and that will make them attractive to buyers.

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Apr 12

Treasure Crest Sim Lian

It is noted that Compass point near to Treasure Crest EC will be undergoing renovation and the new mall will be called One Sengkang Mall given its close proximity to Sengkang as well being close to Sengkang MRT Station.

One Sengkang near to Treasure Crest Sim Lian

Sengkang Mall will undergo renovation in an effort to increase the retail space available as well as bring in more tenants for the residents for more holistic shopping experience right in the heart of Sengkang. Sim Lian Treasure Crest EC which is near to Sengkang Mal will benefit from this as it is one of the ECs that is within a short walk to the shopping centre. The winner for naming the shopping mall was awarded $1,000 cash.

Sim Lian Treasure Crest

Fraser Centrepoint announce that the shopping mall will close for renovation soon so that there will be more anchor tenants for the shopping mall. As One Sengkang Mall is within close proximity to Sengkang General and Community Hospital which is due to open soon, the management believes that this will throw in more catchment and more retail space is needed for the residents to conduct their shopping. With Bellewaters, The Vales as well as Treasure Crest to be completed soon, there will be more shoppers around the area and demand for Sengkang Mall will be there.

One Sengkang will reopen this year end and it is now currently under renovations.

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Apr 10

Parc Life

Parc Life EC is a recently built housing complex on Sembawong Avenue in Singapore. This block of exclusive high quality condos is owned by Frasert Centrepoint Homes. These condos are some of the best quality units that can be brought or rented in the whole of Singapore. Fraser Centrepoint Homes decided to go ahead with the building of the Parc Life EC complex despite the adverse economic conditions at the time that planning permission was granted. The government of Singapore is always concerned that there is not enough housing on the island, which is why it made the site available for housing development in the first place.

Parc Life EC Sembawang

Although not all the ECs have been sold or let yet the developers have already made a profit on their investment. They were confident that they would make a profit on the Parc Life EC project not only due to the quality of the condos but also the location of the development. It is fairly easy to commute to and from Singapore City centre from Sembawong Avenue as the nearest MRT station is around a five minute walk away. As well as the MRT buses are also frequent. The complex has adequate car parking facilities for residents with their own cars.

Parc Life Fraser Centrepoint Homes

The location of Parc Life has been important in tempting people to live there as there is a park within a ten minute walk of the complex, which means residents can relax there. There are nearby shopping facilities and the good transport links mean that residents can get to anywhere they need to go by public transport. The road links to the rest are good as well.

Parc Life EC

The Parc Life EC is well placed on the island, it’s condos are great for business executives to live in, and it has good transport links for commuting to work.

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Apr 07

Parc Riviera West Coast Vale

Parc Riviera condominium is a comfortable new residence in Singapore. Located in Clementi, this development is suitable for people in all stages of life, from young couples, to families or retired people. This stylish, relaxing condominium has recreational facilities on the property and is close to highways, schools and businesses.

Parc Riviera EL Development

The 600 units at Parc Riviera range from one to four bedrooms. Several different types of units include town home-style and cluster housing. It is a peaceful area, calmed by the rejuvenating gardens and lush, winding landscaped pathways. Outdoor relaxation includes a sun deck and pool. Residents have access to barbecue pits, multipurpose rooms, activity areas and a fitness centre. This paradise is protected by a well-staffed guardhouse.

Clementi, where Parc Riviera Condo is located, is a well-developed area with a rich history. The government plans to modernize the area but living in Clementi remains one of the best ways to experience Singapore’s past and culture.

Parc Riviera West Coast Vale

The West Coast Highway and the Ayer Rajah expressways are close by Parc Riviera ensuring residents of a streamlined commute. It is also near the Clementi MRT Station and several bus stops.

Parents with school age children can chose among the area’s notable schools. Primary schools include Nan Hua and Clementi primary schools and the Clementi Town Secondary School is nearby. Older students are near institutions of higher learning like SIM University and the National University of Singapore. Other schools in the area are Ngee Ann Polytechnic and The Japanese School.

Parc Riviera Condo

The Jurong Lake District is a short drive from Parc Riviera Condo. It is a convenient commute for residents as the area houses many schools, offices and businesses. Recreational facilities like park connectors and an ice skating rink are in development for this area. Parc Riviera condominium is a comfortable development surrounded by history, culture and amenities.

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Mar 12

Propnex new initiative for Sales

A new initiative has been launched by Prop Nex and JLL in order to provide better assistance to developers that are selling high end homes in Singapore.

This initiative occurs one year following the fact that JLL Singapore was able to acquire 20 percent of the stake in the project marketing arm of Prop Nex International during the month of August in the year of 2014. And it is stated that 50 to 60 of the JLL’s representatives went on to work as employees of Prop Nex.

Since that time, both of these companies have augmented the spectrum of their working partnership in correlation to auction and project marketing regarding commercial developments.

New Sales for Propnex

According to Chris Fossick who is the managing director for Singapore and South-east Asia for the JLL company, developers of luxury properties within Singapore require increased assistance than previously in order to move their commodities due to the fact that property cooling measures have inflicted a decrease in demand from foreigners and investors.

It has been noted by Ismail Gafoor who is the CEO of Prop Nex, that there will soon be an urgent need for some of these developers to clear their stock in order to comply with the requirement of the regulations of the Qualifying Certificate (QC) along with the remission for additional buyer’s stamp duty (ABSD).

The QC regulations state that most developers here are required to pay extension fees regarding condo units that have not sold in correlation to the two years from the point of project completion. Since the month of December of the year of 2011, there has also been the requirement for developers to develop all residential sites that are in their possession and to complete the sales of all units within the time frame of five years in order to set forth the qualification of the remission of the ABSD on the cost of land.

Propnex to post record Sales Commisions

According to Mr. Ismail, since they need a greater outreach in order to be able to dispose of their properties, many developers will be facing their biggest challenge by the end of the year for next year. A trained work force is necessary for the marketing of their projects if these developers intend to cut prices and relaunch their projects.

A rigorous process was undertaken by both JLL and Prop Nex in order to find sales people who met their strict criteria of being able to have a good track record, communication skills, ethics, product knowledge and market knowledge. At least S$2 million worth of property sales in the last two years must have been closed orthere must have been the attainment of at least one transaction for a high net worth individual (HNWI) by the agents.

The short listed applicants then were put through mandatory training regarding project marketing and needed to pass an interview prior to being able to receive certification under the Luxury Real Estate brand. On Tuesday at a ceremony, they received their certificates.

The certificate acts as an endorsement by JLL and Prop Nex that these 200 next agents are ready now to set to the task of marketing high end properties of developers, as stated by Nancy Hawkes who was among them, who serves as the senior associate district director of Prop Nex, having transferred over from JLL in the later part of the year of 2014.

There is a lot of potential in the luxury market. Therefore, this certification is deemed to be timely. These are the perceptions of Nizam Gafoor who serves in the position of associate district director at Prop Nex where he oversees a team of 180 agents and has been dealing with HNWI clients.

JLL has put out the estimation that among 1.3 million homes in Singapore, the luxury home percentile is one percent of the total number. These properties are primarily situated near the location of Orchard Road, Marina Bay and Sentosa, with a wide range of pricing from S$5 million to S$50 million.

Looking at new initiave

In spite of the fact of the small market segment, Mr. Fossick stated that there does indeed exist a need to aid luxury developers. Luxury homes are under valued in the context of the other major markets and in relation to the wealth of Singapore. Take into consideration for example the fact that Hong Kong’s high end residential market, in light of enduring similar strong measures by the government, is trading at 165 percent in correlation to the equivalent of Singapore, while the fact remains that both London and New York are reported to be 100 percent higher than Singapore.

There were transactions for as many as seven major prime residential block deals that were worth S$900 million last year. Thus it shows that the market had found the bottom, or close to it, as suggested by Mr. Fossick.

While it is true that Prop Nex does offer a large spectrum of sales and leasing services for HDB flats and condominiums, Mr. Ismail noted that it had less experience with high end luxury sales.

At Le Novel Ardmore a Prop Nex agent had the success of being able to broker Singapore’s most costly penthouse that made for a S$51 million deal last year. Also, it is to be noted that agents of Prop Nex were able to sell penthouses at St. Regis Residences for S$12.2 million and Marina Bay Suites for S$18.98 million, while other agents were able to accomplish brokering Good Class Bungalows (GCBs) and luxury homes at Sentosa.

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Mar 11

Northwave EC near to Causeway Point

Frederic Neumann, Co-chair of Asian Economies at HSBC in Hong Kong has announced the steps pioneered in Asia an initial success. The macroprudential steps there have included abstention of setting higher interest rates. The argument goes back to the assertions of Alan Greenspan for Hao Yuan Gambas EC, former Chairman of the Board of Governors of the Federal Reserve, who has previously discussed stagnation and the role of the central banks in tackling the aftermath of recession rather than their ability to prevent the recession itself in Hao Yuan Woodlands Ave 12 EC. However after the Northwave EC Gambas housing prices decline and the marked slowdown of the global credit markets which halted to a freeze in 2008 for North Wave EC, the Laissez-faire stance started to appear increasingly unsustainable. The challenge of cheap cash pouring into the property assets in Asia while the Federal Reserve lowered its rates to nearing zero prompted a demand for action.

Northwave EC near to Causeway Point

Singapore was in the front line of economies adopting measures to address the challenge, putting into action residential property limitations in 2009. Broadly speaking, these comprised capped repayment costs at 60 per cent of the debtor’s monthly income, introduction of increased stamp duty on home sales and hiked up taxes on real estates.Hong Kong quickly followed suit in 2010 by levying of qualified stamp duty on properties re-sold within two years of purchase. This Northwave was subsequently changed to three years. Additionally, a 15 per cent tax was introduced on property acquisitions by foreigners and corporations in 2012. The measure came as a response to the overpowering pressure for property sales by Northpoint Yishun Causeway Point buyers from China. Another step in the same direction initiated in February 2013 delivered a twofold Woodlands EC in the progressive ad valorem rates to a maximum of 8.5 per cent.

Woodlands Ave 12 Hao Yuan EC

As a result the Canberra Plaza prices in Hong Kong and Singapore have shown a consistent drop in Woodlands Ave 12 Hao Yuan EC, with decrease in Singapore sustained over nine consecutive quarterlies in December 2015 and residential property prices drop in Hong Kong by 6.9 per cent in the fourth quarter. Adair Turner, who chaired the UK Financial Services Authority until its abolition in 2013, noted that city-states such as Singapore have now the status of international property marketplaces and regulation through Woodlands Ave 12 EC interest rates only will not serve their economies well. Mr Turner is convinced that macroprudential tools should be applied in conjunction with multiple regulatory measures to tackle the recalcitrant property boom which could never be amenable to control exercised via interest rates alone for North Wave Hao yuan in Chong Pang Market.

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Mar 03

Parc Life Sembawang by Fraser Centrepoint Homes

The quiet park of Sembawang is spurring with excitement soon with the launch of Parc Life EC, the first EC to launch in the North in 2016. This EC is highly anticipated as it is one of the newer ECs in Singapore and is the next EC to launch after Skypark Residences.

Regulations can be successfully used to prevent the collapse of the assets – and the recent indications from the experience of the Asian-Pacific economies in the aftermath of the worst economic crunch to hit the global markets since the Great Depression are positive.

Parc Life Sembawang

Much is anticipated at the launch for Parc Life EC as it is near to Sembawang as well as other parts of Singapore.

From Singapore, through Sidney to Seoul policy makers have been busy in drafting and putting into practice strategies to tackle inflation of house prices, together with implementing monetary measures. Macroprudential regulation aiming at alleviating the impact of the global risks is in vogue again, with bankers and financial regulators adopting anti-bubble policies as tools to reduce the brutality of the economic blows suffered by national economies. Shopping centres near Parc Life include the below Sun Plaza Sembawang Shopping Centre

Fraser Centrepoint Parc Life

Lendlease – ADIA were given the tender for the Paya Lebar project as they were the investment group that put in the highest bid to win the 99 year leasehold. The bid for the tender was actually closed on March 31 2015, with the tender been awarded a few weeks later. The winning consortium just like their rivals were confident that the development once completed would make a healthy profit. The winning bid from the Lendlease – ADIA consortium was for a grand total of S$1.67 billion. When the total area of the land parcel is taken into account that gives a value of S$942.56 per square foot (psf) of the potential ground floor area GFA).

Sembawang Ave EC

The consortium is not an equal partnership as Lendlease has a 30 % stake in the Paya Lebar project, whilst ADIA holds the remaining 70 % stake. However ADIA were keen to get Lendlease involved in the project
due to its knowledge of the Singapore property market.

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Jan 28

Falling Rentals for Condos

During the time that the property market was really experiencing a very successful boom, it seemed that it was the tendency for most landlords to divide retail spaces into even smaller spaces, yet while charging very high fees per square foot for these smaller retail spaces. Now because of falling rental prices and a lack of sales by tenants, landlords are trying to attract tenants that require larger spaces in Cairnhill 9 Ascott that they once had declined in the past.

Cairnhill Nine Ascott Capitaland

Though the process of getting a mix of tenants may aid in the occupancies of the mall and football, this will not really help much with the anticipated fall in Ngee Ann City rents next year for Orchard Condo.

Projections for the year of 2016 regarding retail rentals are said to go back as far as five percent according to estimates by consultants. It is true that so much vacant Takashimaya Shopping Centre retail space is a real worry.

It could take very close to about four years to be able to fill up the retail space, based on the average net demand for retail space over the past three years across the entire island.

Cairnhill 9 Paragon Shopping Centre

An analyst stated that with the rise of the 2.44 million square feet of Wisma Atria retail space being constructed next year, the ongoing attempt of landlords to fill both new and existing retail places is projected to certainly intensify. There is a belief that rents in the Central Region will drop by as much as 3.5 percent in the year of 2016.

With the 3 percent decline in rentals over the entire island, there will likely be seen also a major crunch in manpower and there will be fewer tourists for Somerset Grand Cairnhill Condo. The fortified Singapore dollar along with ecommerce sites will also make a financial hardship for retailers across the island next year.

Somerset Cairnhill Condo Ascott

Cairnhill Nine Condo Data provided by the Cairnhill Nine Urban Redevelopment Authority revealed that there was a drop by 2.9 percent in retail rents for the Central Region, which includes 22 planning areas that span across the central and fringe areas that extend to Queenstown, Geylang, Bishan and Sentosa for the first three quarters of the year. Some regions that have been followed by other analysts show a more significant drop in Cairnhill Nine Ascott prices. Being the lowest since the first quarter of the year of 2006, a current report stated that prime first storey rentals across the island had dropped by 3.7 percent, making the price to be S$30.90 per square foot.

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Jan 27

Parc Riviera Condo by EL Development

Across the island, rents for retail spaces on the first storey have dropped by 1.2 percent during the last quarter of the year of 2015 from the previous quarter, being down now to about S$30.50 per square foot, as explained in the statement from an international property consultancy.

Thus there has been a decline for three consecutive quarters, which is equivalent to a more drastic drop of 5.9 percent for rents for the entire previous year for Parc Riviera West Coast Vale, following a decrease in the year of 2014 of 0.3 percent. Weak consumer sentiments were a major contributing factor to the decline seen last year due to many economic global situations that presented themselves as very unstable.

Parc Riviera Condo West Coast Vale

In the Orchard and Scotts Road area, average rents for first floor retails spaces decreased each quarter by one percent, which thus equals a drop of five percent per year to make the rent to be equal to S$38.05 per square foot in the fourth quarter of the year of 2015.

However , this is to be noted that this is yet smaller than the decrease that has taken place in suburban areas like Parc Riviera West Coast; because the rents there decreased by 1.2 percent each quarter for first floor retail spaces, which added up to a decrease of 5.7 percent for the year, and thus brought rents down to S$30.70 per square foot during this time.

This discovery brings about real concerns about the weakness of the Orchard and Scotts Road shopping area in comparison to the suburban areas.

The lack of new completions over the next four year in the Orchard and Scotts Road area was what aided first floor retail space there. There will only be the development of a few new retail spaces due to asset enhancement initiatives and other projects that offer mixed usage for EL Development West Coast Condo.

EL Development West Coast Parc Riviera

There were more drastic rent drops for first floor retail spaces by as much as 1.4 percent for each quarter, which equates to a decrease of 6.9 percent for the year for other city areas that comprise 321 Clementi, Chinatown, Bugis and Suntec City, with rents being equal to about S$21.80 per square foot for the fourth quarter.

The larger rental decline that occurred in other city regions was contributed to the fact that the area had been dependant on weekday office workers for the bulk of their sales. A property consultancy projected that the anticipated competitions near Japanese Garden, combined with weak consumer outlook likely will put more pressure to yet decrease rents even more, especially in various regions of the city.

Due to the retail challenges last year, it was necessary for some brands to close their stores, which included the home grown label M)phosis. the Japanese fashion brand Lowrys Farm and the Hong Kong retailer of Goods of Desire. Major retails companies that include Iestan, FJ Benjamin and Metro have also reported for last year low sales rates that proved to be disappointing indeed. To avoid competition from EL Development Condo and to expand their outreach, some retailersare using omni channel marketing.

Parc Riviera Tender near Jurong East Outlets

The experts agree that most Parc Riviera West Coast Vale landlords have adapted to being more open regarding new retail concepts to prevent retail fatigue.

Take into consideration for instance the fact that after Muji had opened its first café that is called Café and Meal Muji in the month of September close to an existing Muji store in Paragon, it saw about an increase of 40 percent in relation to sales for the store. In addition to French chic fashion and accessories, the lifestyle concept store Latuelle is now also offering a café with complete service. The second outlet for this chain opened at Wisma Atria, with the first outlet having been established in the month of April in the year of 2014 at Orchard Gateway.

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