WHAT IS SINGAPORE PROPERTY MARKET TREND?
Is the COVID-19 Pandemic affecting Singapore property market? 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 Feb 2020, the first executive condominium (EC) at Canberra Walk, named Parc Canberra, is launch for sale from $8xxk onwards. In 2021, Parc Canberra executive condominium (EC) is almost fully sold. To meet the supply of new executive condominium (EC), Provence Residence at Canberra and Parc Greenwich at Fernvale Lane are available for sale in 2021.
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)
| 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 psf ppr |
| Anchorvale Crescent | Evia Real Estate and Gamuda (Singapore) | OLA | 17,137 sqm / 184,462 sqft | S$576 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 psf ppr |
| Canberra Link | MCC Land (S) Pte Ltd | Provence Residence | 16,690 sqm / 176,651 sqft | S$566 psf ppr |
| Fernvale Lane | FCL Lodge Pte Ltd | Parc Greenwich | 17,129 sqm / 184,386 sqft | S$555 psf ppr |
| Yishun Avenue 9 | Sing Holdings Ltd | TBA | 21, 514 sqm / 231,576 sqft | S$576 psf ppf |
| Tengah Garden Walk | Taurus Properties SG Pte. Ltd | TBA | 22,020.8 sqm / 237,031 sqft | S$603 psf ppr |
| Tampines Street 62 | QJ-OS Pte. Ltd. and Santarli Realty Pte. Ltd. | TBA | 23,799 sqm / 256,175 sqft | S$658 psf ppr |
You may also log on to HDB website to view list of new executive condominium launches. Contact 91822516 for further discussion.
WHAT ARE THE NEW CONDOMINIUM LAUNCH …
These are some ongoing development for sale and new condominium launches, Contact 91822516 for more information.
| Location | Developer | Development Name | Land Size | $/psf ppr |
|---|---|---|---|---|
| Clementi Ave 1 | United Venture Development (Clementi) Pte Ltd – JV UOL Venture Investments Pte Ltd and UIC Homes Pte Ltd | Clavon | 178,065 sqft / 16,542.7 sqm | $788 psf ppr |
| Slim Barracks Rise | Jointly developed by Hong Leong Holdings and Mitsui Fudosan under One North Development | One-North Eden | 62,194 sqft / 5,778 sqm | S$1001 psf ppr |
| Upper Serangoon Road | Singapore Press Holdings (SPH) and Kajima Development | The Woodleigh Residences & Woodleigh Mall | 273,842 sqft / 25,440 sqm | S$1181 psf ppr |
| Pasir Ris Drive 8 | Allgreen Properties Ltd & Kerry Properties Ltd | Pasir Ris 8 | 409,071 sqft / 38,003 sqm | S$648 psf ppr |
| Canberra Drive | United Venture Development (2020) Pte Ltd | The Watergardens at Canberra | 296,721 sqft / 27,566 sqm | S$650 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 | Normanton Park | 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 | S$1210 psf ppr |
| Brookvale Drive | Hoi Hup Sunway Clementi Pte Ltd | Brookvale Park | Ki Residences | S$932 psf ppr |
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)
If you are keen to know more upcoming new private development, Contact 91822516 for more information.
I am CEA registered property salesperson in Singapore. For more information about me, you may read more in this website.