WHAT IS SINGAPORE PROPERTY MARKET TREND?
Is the COVID-19 Pandemic affecting Singapore property sales? In this pandemic period, is it a good time to buy a property in Singapore? Share your opinion with me at Contact 91822516 or have a good read from this news article dated 10 May 2020.
May 2020 – Singapore government, MND Ministry of National Development, announces COVID-19 Temporary Relief Measures for residential buyers and residential, commercial and/or industrial developers. These Temporary Relief Measures includes (i) extension of Project Completion Period (PCP); (ii) extension of time for commencement and completion of residential development, and sale of housing unit; (iii) extension of the PCP and/or disposal period; (iv) extension of time for remission of ABSD; For details, please read MND announcements.
In 2020, more new launches of executive condominium (EC) will be made available for sale as compare to 2019. In 2019 there is only one (1) executive condominium (EC) development launch for sale. The one and only executive condominium (EC) launch in 2019 is none other than Piermont Grand at Punggol Sumang Walk. In Feb 2020, the first executive condominium (EC) at Canberra Walk, named Parc Canberra, is launch for sale from $8xxk onwards.
In September 2019, there is a change to executive condominium (EC) eligibility criteria. HDB increase the income ceiling from $14,000 to $16,000 gross monthly household income. Contact 91822516 for updated executive condominium (EC) eligibility criteria.
What is the property cooling measures that is in place? 6 July 2018, new cooling measures on Higher Additional Buyers’ Stamp Duty (ABSD) rates and tighter loan limits was announced. Will EC buyers be affected by this 2018 property cooling measures? Contact 91822516 for further discussion.
Rates and Computation
| Profile of Buyer | ABSD Rates from 8 Dec 2011 to 11 Jan 2013 | ABSD Rates from 12 Jan 2013 to 5 Jul 2018 | ABSD Rates on/ after 6 Jul 2018 |
|---|---|---|---|
| Singapore Citizens (SC) buying first residential property1 | Not applicable | Not applicable | Not applicable |
| SC buying second residential property1 | Not applicable | 7% | 12% |
| SC buying third and subsequent residential property1 | 3% | 10% | 15% |
| Singapore Permanent Residents (SPR) buying first residential property1 | Not applicable | 5% | 5% |
| SPR buying second and subsequent residential property1 | 3% | 10% | 15% |
| Foreigners (FR) buying any residential property | 10% | 15% | 20% |
What are the upcoming executive condominium (EC) launching in Singapore?
Below is list of new launch executive condominium (EC) on/around 2019/2020
| Location | Developer | Development Name | Land Size | Land Cost $/psf ppr |
|---|---|---|---|---|
| Sumang Walk | CDL Constellation and TID Residential | Piermont Grand | 27,056 sqm / 291,230 sqft | S$583 psf ppr |
| Canberra Link | Hoi Hup Realty and Sunway Developments | Parc Canberra | 18,4040 sqm / 194,187 sqft | S$558.22 psf ppr |
| Anchorvale Crescent | Evia Real Estate and Gamuda (Singapore) | OLA | 17,137 sqm / 184,462 sqft | S$576.24 psf ppr |
| Tampines Ave 10 | Hoi Hup Realty Pte Ltd and Sunway Developments Pte Ltd | Parc Central Residences | 24,938 sqm / 268,432 sqft | S$578.12 psf ppr |
| Canberra Link | MCC Land (S) Pte Ltd | TBA | 16,690 sqm / 176,651 sqft | S$566.05 psf ppr |
| Fernvale Lane | FCL Lodge Pte Ltd | TBA | 17,129 sqm / 184,386 sqft | S$555 psf ppr |
| Yishun Avenue 9 | TBA | TBA | 21, 514 sqm / 231,576 sqft | Available for tender |
| Tampines Street 62 | TBA | TBA | 23,799 sqm / 256,175 sqft | Open for tender |
You may also log on to HDB website to view list of new executive condominium launches in 2020. Contact 91822516 for further discussion.
WHAT ARE THE NEW CONDOMINIUM LAUNCH IN 2020 …
These are some ongoing development for sale and new condominium launches in 2020. Contact 91822516 for more information.
| Location | Developer | Development Name | Land Size | $/psf ppr |
|---|---|---|---|---|
| West Coast Vale | China Construction (South Pacific) Developments Co. Pte Ltd | Twin Vew | 16,378.3 sqm | $591 psf ppr |
| Tampines Avenue 10 (parcel C) | Bellevue Properties Pte Ltd | The Tapestry | 21,717.7 sqm | $565 psf ppr |
| Stirling Road | Logan Property (Singapore) Company Pte Ltd and Nanshan Group Singapore Co. Pte Ltd | Stirling Residences | 21,109.5 sqm | $1050 psf ppr |
| Woodleigh Lane | CEL Unique Development Pte Ltd | Park Colonial | 19,546.9 sqm | $1,110 psf ppr |
| Upper Serangoon Road | Singapore Press Holdings (SPH) and Kajima Development | The Woodleigh Residences & Woodleigh Mall | 273,842 sqft / 25,440 sqm | S$1,181 psf ppr |
With En-bloc fever in Singapore, what are the private condominium property price in 2018? Here is a list of some of the enbloc developments and its collective sale land price. Contact 91822516 for discussion on the successful en-bloc and its new development.
CONDOMINIUM LAUNCH FOR SALE FROM EN-BLOC LAND
| Location | Developer | Former Development Name | New Development Name | Land Price $/psf ppr |
|---|---|---|---|---|
| Shunfu Road | Qingjian Realty (Marymount) Pte Ltd | Shunfu Ville | Jadescape顺福轩 | S$747 psf ppr |
| Potong Pasir Avenue 1 | UVD (PROJECTS) PTE. LTD. (Joint venture company of UOL Group and United Industrial Corporation (UIC)) | Raintree Gardens | The Tre Ver | S$797 psf ppr |
| Hougang Avenue 7 | Rio Casa Venture Pte Ltd (Joint Venture between Oxley Holdings Ltd, KSH Holdings Ltd, SLB Development Ltd and Apricot Capital | Rio Casa | Riverfront Residences | S$706 psf ppr |
| Sims Avenue | MCL Land | Eunosville | Parc Esta | S$909 psf ppr |
| Normanton Park | Kingsford Huray Development | Normanton Park | TBA | S$969 psf ppr |
| Tampines Street 11 | Sim Lian | Tampines Court | Treasure At Tampines | S$676 psf ppr |
| Rifle Range Road (in Bukit Timah) | Citrine Property Pte Ltd (subsidiary of Oxley Holdings Limited) | Mayfair Gardens | Mayfair Gardens Mayfair Modern | S$1244 psf ppr |
| Bukit Timah Road | ALLGREEN Properties | Royalville (FH) | Royalgreen | S$1960 psf ppr |
| South Buona Vista Road | Oxley Holdings | Vista Park | Kent Ridge Hill Residences | S$1096 psf ppr |
| Jalan Lempeng (Clementi) | Singhaiyi Properties | Park West | Parc Clematis | S$850 psf ppr |
| Leedon Heights | MCL Land & Yanlord Land | Tulip Garden | Leedon Green | S$1790 psf ppr |
| Toh Tuck Road | Qingjian Perennial (Bukit Timah) Pte Ltd | Good Luck Garden | Forett at Bukit Timah | TBC |
DO YOU INTEND TO OWN A PROPERTY FOR OWN STAY OR INVESTMENT?
If you intend to own a property and live in it, your main considerations are most probably the location, your budget and comfortable unit size. Alternatively, if you intend to own a property as an investment, your main concern should be the rental yield that the property can generate for you.
Allow me to present to you the current launches of executive condominium, private condominium and landed properties that suits your desire and intention. Do feel free to Contact 91822516 for a non-obligation presentation of the developments.
Upcoming new developments (Condominium)
Normanton Park (former Normanton Park condo) | Forett at Bukit Timah (former Good Luck Garden condo)
Contact 91822516 for more information and/or register your interest.
I am CEA registered property salesperson in Singapore. For more information about me, you may read more in this website.