Duo Residences: A good buy?

This post is not about introducing this historical iconic development. Therefore, I will not go into details. To read more, click on the links below.

Complete e-brochure

Draft Site Plan

Duo Diagrammatic Chart

Site and Facilities Plan

Videos

Video Link (Artist's impresson of DUO's design and architecture

Video Link (Development, uploaded in ERA's portal)

Indicative prices:

Unit sizes and indicative price breakdown

Analysis:

Criteria:

Type: Private Residential

Districts 1,2 & 7

Unit Sizes: 400 - 1100 sf

Age: 0 - 7 Yrs old. 

1) District Sales Trend (Most recent 24 months)

Please see the sales trend below which I generated based on the above criteria.

D1 : - 0.2% / yr
D2 : +8% / yr
D7 : +12.4% / yr
National: +6% / yr

Findings are that D7 condos / apartments are showing the highest growth rate of avg transacted psf over the last 24 months, followed closely by D2.

This could mean that either D1 has more supply hitting the market thus causing a slow down in capital appreciation or that it is near peak prices / overpriced.

2) Closest comparatives Avg transacted psf and volume (Most recent 24 months)

I have selected 5 developments which is very similar in age range; either not > 7 yrs old or under construction as a gauge.



There is quite a big gap between D1,D2 and D7 average transacted psf.
Taking Sky Suites @ Anson as the closest to Concourse Skyline which is still under construction nearby to Duo Residences, the gap is about $200 psf.


3) District Rental Yield & Rental psf

D1 : -0.5% / year
D2 : -3.3% / year
D7 : -11.3% / year

Do note that rental yield is an inverse relation to capital appreciation. ie when capital appreciation is +ve, rental yield is -ve if all other variables remain constant.

Note that all 3 districts are showing a lower rate of decline in rental yield than the rate of capital appreciation / avg transacted prices.

All 3 districts are showing pretty consistent rental psf. However, districts 1 & 2 are showing signs of softening in recent months. On the overall, still not really cause for concern.

Conclusion:

It appears that district 7 shows the highest potential upside. In addition, the area is zoned to be a growth region by the government in the masterplan.
There are not many newer (< 10 yrs old) private residential developments in that area. The only other comparable development is Concourse Skyline, a 99LH project which is still under construction.

Duo Residences is the only 4-in-1 mixed use development (5 Star Hotel, Grade A office, Retail + F&B outlets, private residential) as of now.

It sits right on top of Bugis MRT interchange and Bugis MRT station along the East West Line.

From a price point perspective, it is worth considering taking a second look at this development.

Other factors to consider: Location, iconic architectural design, the 1st JV development by both Singapore & Malaysia governments.

Some questions to ponder: Are you able to find another development at this quantum / psf that may have the potential upside?

To find out more, please contact me @ 9489-3594.

** Do note that if you are keen, the deadline to submit Expressions of Interest (EOI) is this Sunday 10th Nov'13 @ 6pm.


Disclaimer: All efforts were made to ensure the correctness of the information at the point of this post. I am not responsible for any errors or any decisions based on my analysis above.
This is purely my personal opinion.

Would Home prices dip up to 20% by end-2015?

There is an article in today's ST reporting that analysts from CIMB and Barclays Bank saying that they estimate that home prices may dip by 20% by end 2015.
I really wonder where they get these estimates from.

Remember not too long ago when the very same 'experts' predict that property prices will CRASH after the Xth cooling measures but it didn't materialise?
Also, I wonder how much mortgage loans do the above two banks have in their portfolio as opposed to the other 3 local banks.
If I am not wrong, it is not difficult to understand why they choose to release this set of news at this moment.

My own personal take on this. I have no doubt that overall residential property prices are stabilising or may dip a little over the next 6-12 months and beyond.

However, I am skeptical that the government will allow it to drop by so much. After all, the government collects a lot of stamp duties from transactions and it does not make sense to kill the golden goose.

Moreover, it is a very sensitive issue to cause such a drastic drop in asset prices with the next GE in 2016.

It is a fact that sales from new launches are indeed slowing as there are many more choices for buyers to consider today and a lot of buyers are price sensitive as they are fully aware of impending hike in interest rates and of course their budgets are affected by how much they can loan due to the TDSR (Total Debt Servicing Ratio) being enforced by financial institutions.

However, if one were to think about it. The impact is already in play today.

I did an analysis on the residential resale property prices and there are areas which are more resilient than the rest. What a lot of people fail to understand is that avg prices across Singapore may dip.

However, the term 'avg' means that some areas are seeing a rise in prices BUT more areas are seeing a softening of prices. Naturally, it will cause overall avg prices to dip.

But what people interpret it is that prices on the whole are dropping and their expectations are way below sellers' asking prices.

This is also causing a drop in transactions other than the TDSR framework.

My observations tell me that residential properties with strong fundamentals are always in demand and are resilient.

New launch coming up opposite Tanah Merah MRT station - The Glades @ Tanah Merah

Among the recent launches that I have seen in the past few months, I am looking forward to this particular development that is going to be launched right opposite Tanah Merah MRT station (See pic below).

Jointly developed by Keppel Land and China Vanke Co Ltd, I believe this is going to be the gem of Tanah Merah. 

Sitting on a plot bigger than 343,000 sqf, it is quite a large piece of land as compared to the recently launched Urban Vista.

This development is made up of 9 blocks giving a total of 726 units and 3 units of shop space; 1 bedroom - 4 bed dual key units. 

Launch prices are estimated to be between $1400 - $1600 psf. 

Looking at the draft layouts, I think the design is pretty decent without any bay windows or planter boxes. 

What really catches my eye is the beautiful landscaping and water features throughout the estate, the patented 1 bedroom SOHO units and the double volume 4 bedroom units. 

The excellent location and close proximity to the MRT station, Changi Business Park, future 4th University (SUTD), shopping malls, airport, ECP, golf courses, Expressways that lead to the city, numerous schools from primary, secondary, tertiary to International schools makes this a pretty sound investment choice or for own stay. 

I expect strong interest if the development is really launched at the estimated range mentioned above with additional early bird discounts as the prices are very similar to the recently launched Urban Vista in the 1st half of this year. 

* Information may not be 100% accurate. Please do your own research. 

  

Tanjong Pagar Centre by GuocoLand to launch at $3000 psf ?

There is a very interesting piece of news which was published on the front cover of the Straits Times on 3rd May 2013.

The heading reads "Tanjong Pagar Centre set to be tallest building at 290m"

This is an iconic development by GuocoLand which will be made up of a tower housing Grade A office space, residences and retail space.

Its office portion - to be called Guoco Tower - will occupy 38 storesy and have 850,000 sq ft of net lettable space. The residential portion will take up the 39th - 64th storey and it will be called TP180. It will have nearly 200 units ranging from one to four-bedders and penthouses.

This white site was previously purchased at $1.71 billion - or $1,006 psf per plot ratio back in February 2011.

What caught my eye is really the speculated launch price of $3,000+ psf due to the location and proximity of being right about above Tanjong Pagar MRT station.

It will be very interesting to see how the lauch will impact the prices of surrounding residential developments.

Searching for a home or an investment property

On many occasions whenever I speak to potential clients who are shopping to buy a new home or for investment purposes, I realise that a lot of them are going around calling up listings advertised either on the papers or various online portals and then arranging viewings on their own. This process can be significantly shortened if only they engage a professional and competent real estate salesperson to assist them.

A person is usually very tied up in going about their day to day activities, let alone to squeeze the extra time in searching through the papers or web portals to look for a home or investment property on their own. 

This is especially so when they are 1st timers in purchasing an investment property. It is not easy to find a good investment property, especially if you choose one whose value drop and/or remains very difficult to rent out over time. 

A lot of people confuse buying an investment property over one for own stay. One thing to note about property investment is that you see with your mind and not with your heart as you'll not be living in it. It is going to be your passive income tool which helps you to grow your wealth. 

Our job as professional consultants come into play and a good real estate salesperson would be in a better position to assist in identifying good properties with good potential. After all, we do this day in and day out. We have a good feel of what is happening on ground level even before any transactions appear on URA's website. By the time a transaction is reported, there is already a time lag of approximately 8-10 weeks. 

We are also able to research and point out ongoing or future developments in a certain locality that may not be apparent to a typical buyer or they may overlook potential issues.  

In the real estate realm, transactions occur all the time and it is no different from the stock exchange. The only difference is the volume, quantum and time taken for transactions to take place. It is precisely the long duration for a transaction to be reported to the public is when buyers and sellers are able to capitalise on either entering or exiting the market before a trend emerges. Of course, not everyone will get it right but it's usually either gaining a bit more or losing a bit less. 

I notice that most savvy and successful property investors usually have a real estate salesperson whom they work regularly with regarding their purchases, sales and rentals of their property portfolio. This is no different from building a good professional relationship with your private banker. After all, the bankers help you manage your wealth by advising on various instruments that benefit you. Building a long term relationship with a competent real estate salesperson is the same. The only difference is they advise you on acquiring, selling and renting your million dollar investments.   

In summary, engage a competent real estate salesperson and they will be able to assist you based on your requirements. 

A hint that EC pricing and subsidies will change?

I read on Channel News Asia yesterday evening about our National Development Minister, Mr Khaw Boon Wan discussing about EC prices.

In short, he said that that something is a sense of inequity here that the lower-income group is getting lower subsidies than somebody who is earning S$12,000, so something is wrong somewhere and therefore the current EC mode cannot continue.

Mr Khaw also said he is confident that he can bring down the price of new flats in non-mature estates to four times the annual median salary of a buyer - down 30 per cent from the current 5.5 times. He is wary of some "transitional problems".

He said there needs to be "distinct differentiation" between the cheaper new flats and those built earlier.

I hope that a fairer system of pricing and subsidising EC flats will be announced soon.

As for creating a new class of HDB flats based on 4 times the annual median salary of a buyer, I think it is a really good idea but there will be a lot of issues to address before the scheme can be implemented successfully.

Cluster Housing or landed property? How do they compare?

It's been a while since I last posted anything. This is mainly due to work and working with cluster housing.

As I have been serving clients looking to buy alternative types of property; mainly landed property and cluster houses, I decided to examine both types and point out the advantages vs disadvantages.

One of the most frequently asked questions from talking to people is that they do not know what are cluster houses?
In short, it is often described as basically individual condo units built on land.
There are 99 years leasehold cluster houses and freehold cluster houses.
Nevertheless, it is sort of like a hybrid. Having a pseudo 'landed' property with shared facilities.

Some recent launches and upcoming launches that are often talked about are:
Whitley Residences,  Palms @ 6th Avenue, Charlton 27 and Belgravia Villas.

I will not do a comparison on which is better but instead talk about cluster houses vs landed property.

Advantages of cluster houses

1) Guaranteed 2 parking lots.
Most intermediate, inter-terrace houses can only accommodate 1 car in the car porch and the other car would need to be parked along the street outside the compound.
Many landed property owners 'chope' the space outside their compound for another vehicle using dustbins, traffic cones etc.
You are most certainly to get 2 full sized carpark lots within your compound.

2) Shared facilities
Most cluster house developments would at least come with a swimming pool, a gym and BBQ pits.
It is nearly impossible to conceive having your own swimming pool and gym in a landed property unless the land size is very big.

3) Security
This is definitely a selling point for cluster houses as you get 24hrs security all the time. For landed properties, you would need to install your own alarm system or pay a fair bit more to link up with private security firms.

4) Open communal space
You'll usually have a fair bit of open space for you to walk or let children roam about within the compound under security. However, most landed properties have limited open space.

5) Bedrooms with attached en-suite bathrooms
Most cluster houses tend to have at least 4 to 5 spacious bedrooms with attached bathrooms. You usually do not get that in older landed properties.

6) Home Lift
As more cluster houses are built with multiple storeys, they usually come with a private home lift. A lot of landed properties do not have a private home lift and it is usually tougher for elderly people to climb up and down the stairs.

7) Consistent Facade
It is very nice to see a development with a consistent facade rather than driving into a street with landed properties looking totally different with various height differences.
Personally, I think this would actually affect the valuations in that street.
I know of people who intentionally move from such areas into cluster houses as they like the consistent facade which they know would not be changed by the owners over time.

8) Affordable Maintenance charges
The monthly maintenance charges paid for the upkeep of the development and the facilities appear to be of more value than landed properties. A lot of landed property owners always insists that there isn't much maintenance expenditure required but upon further investigation, this is not true.
For landed properties, a typical owner will need to take care of roofing, external painting, gardening, pest control, rodent control and security charges and if the charges are averaged out into monthly payments, it may come up to about the same as cluster houses.
However, there is no swimming pool, gym and other facilities to be enjoyed.

Disadvantages of cluster houses 

1) Entrance is via basement
A lot of people do not like entering via the basement as opposed to a traditional landed property where you enter the compound at ground level.

2) Narrow width
Most cluster houses are narrower than landed properties.

3) Lack of front porch / garden
It really depends on the design of a particular development.

4) Lack of privacy
Most cluster houses appear to be built quite close to the opposite unit and prospective buyers tend to point out that there are privacy issues. If you look closely to the designs, some developments offer privacy screens or reflective windows, making it hard to see into a unit.
Some landed property areas are serviced by a single lane 1 way street. The distance is no different from cluster houses.

The above is a general summary of the pros and cons of cluster houses vs landed properties.

Feel free to contact me @ 9489-3594 or write an email to me if you are looking for one or want a more in depth discussion on a particular property.

Primary market is still moving.

There were many preview launches since the start of March 2013. Initial reports in the papers indicate that sales volumes are good due to high demand in the market.

Some buyers / investors are undeterred by the ABSD imposed and are still buying but they are more selective ie location, quantum, size etc.  

D'Nest @ Pasir Ris, Sennett Residences @ Potong Pasir, Trilinq @ Clementi, Urban Vista @ Tanah Merah, Bartley Residences @ Bartley Rd all registered healthy sales volumes over their first week of preview launches.

However, the resale market has really taken a beating. Sales volume are down and there appears a widening gap between sellers' asking prices and buyers' offer prices.
The drop in transaction volume is also attributed to sellers unwilling to sell due to the additional stamp duties that they would have to pay when they buy a replacement investment property, thus they rather hold on to what they have currently. Besides, the low interest rate environment is in their favour and is unlikely to see much changes in the next 6-12 months. This makes it cheap to continue holding on to their investment properties.

On the commercial property side, it seems that sellers are asking for higher than valuation prices and investors are still biting. This scenario is very similar to 2007 where prices rise so quickly that buyers are the chasers in the bull market. Having said that, there are still many gems to be found.

I am also getting more enquiries from my clients about investing into commercial properties.

On a personal level, I am exploring overseas investment opportunities with the nearest destination just over the causeway.

A new class of affordable HDB flats?

There has been much discussions over the last few weeks on low cost HDB alternatives. It is probably a hot topic at this moment. 

What alternatives were mooted and could it have an adverse impact on current HDB owners?

Luckily, National Development Minister Khaw Boon Wan has made it clear that the low cost HDB will not affect the existing owners, but there would still be an impact no matter how distinctly different it is, just like how HDB prices can affect EC and private condo prices.

He proposed 3 ways to differentiate the low cost alternatives from the current HDB;

1) Longer Minimum Occupation Period
In theory, this is quite easy to implement but it would really impact those that eventually come under this scheme. I don't know how much longer it can be extended by; 7 years? 10 years? What if some owners that need to sell their flats before the MOP for various reasons? It may be unrealistic in reality.

2) Shortening the Lease tenure
In theory, if the lease period comes down, the cost should reduce proportionately. But we know that in land scarce Singapore, this may be a temporary effect and costs will go up over time. The purpose of creating maybe a special group of affordable flats may be rendered useless. Morever, due to a shorter lease, it may even be difficult to resell it in future.

3) Separating It From Resale Market

This may be the one to be implemented but currently, it is still very vague and we will need to see the proposed terms and conditions that will govern this special 'class' of HDB flats. Perhaps, it would be made mandatory to resell it back to only the HDB at cost plus an embedded profit over x years of holding and thus recycled to others who fall in this category? The problem with this is that it will be difficult for aspiring owners in this category to upgrade as they will not enjoy the appreciation like others outside this category. 

At this point in time, I believe there are lot more considerations to take into account before such a plan gets implemented. 

Only time will tell if it takes off. 

BTOs for Singles announced

Finally, the long awaited announcement to allow Singles to apply for new BTO flats has arrived !

Hurray to all waiting for this piece of news.

Of course, there are terms and conditions - singles must earn < $5k and are only allowed to purchase 2 or 3 room HDB flats in non-matured estates.
The purpose of this is aimed towards helping the lower income group of singles own their home.

Tough luck for singles that do not fall in this category as this probably means that they are earning substantially to either dip into the resale market on their own or even purchase a private residential unit on their own. 

I believe this is a good move on the whole as the lower income earning singles really need all the help they can get and they can fulfill their aspirations to own their own homes. 

Many launches and leftover units

On Saturday, I flipped the papers and saw numerous launches by the major developers and the smaller ones trying their very best to entice buyers or undeterred investors book a unit.

Among the new launches or previews, my sources tell me that Trilinq @ Clementi has sold quite a number of units. Bartley Ridge's showflat is open for preview; D'nest's preview launch was also well received. Sennett Residences @ Potong Pasir also saw brisk sales.

There were also many advertisements showcasing properties from Malaysia, especially at the Iskandar area, UK, Thailand and the Philippines.

The hot topic pointed out Tanah Merah area and a particular anticipated launch - Urban Vista is generating a fair bit of buzz. I believe many 'Expressions of Interests' (EOI) via blank cheque submissions by prospective buyers have been collected. A few of my clients also asked me about them.

The advantages have been covered in my earlier posts which I will not repeat here. The launch on Fri, 15 mar'13 will reveal the results.

On the whole, I think transaction volumes appear to dip slightly but there are still a strong demand by genuine first time buyers out there and not forgetting the foreigners and PRs who are  still undeterred by ABSD. After all, the market will be flushed with liquidity and will continue to do so unless a catastrophic economic event were to occur but at this point in time, I think this is very remote.

My Manhattan - only 2 units left

Property in the East has seen increasing demand recently. If you haven't heard of MY MANHATTAN, this development is right opposite Simei MRT Station and Eastpoint Shopping Mall.

This development will probably be NEWEST and the LAST development to be completed within 300m of Simei MRT station as there is simply no more empty residential land available. Well, there is a tiny plot just behind East Point Shopping mall but there has not been any news of impending GLS in the near future.

This project looks to be on track to TOP in about 12 months' time.

With low psf compared to other similar aged developments in the area, it's no surprise that only 2 ground floor units are left:

> 3-bedroom unit, 1259 sqft, S$1.5XM
> 4-bedroom unit, 1668 sqft, S$1.8XM

The usual buyer stamp duty rebates still apply.

> little wasted space - no bay windows, no planter boxes!

All bedrooms can fit a queensize bed with spare space.

Expect prices to rise due in the whole area due to PMETs from Changi Business Park and the upcoming 4th university which is walkable within 15 mins.

If you're interested, or know of anyone who might be, please contact me.
Or head over to my website at www.propertyconciergesg.com

Showflat Visit of D'Nest

I paid a visit to D'Nest's Showflat yesterday out of curiosity as this is really a large project.

This development is situated at Pasir Ris Grove and is shaped like a letter L. Beside it are other private residential developments like The Palette, NV Residences and Livia. Walking to Pasir Ris MRT station takes approximately 8 mins. 

Sitting on approximately 41,275 sqm / 444,284 sqf of land, this is really one of the largest private residential development in that area. The only one I can think of that is very big in land size is Loyang Valley. 

At first glance of the draft floor plans, the one bed units (approx 484 - 570 sqf) look pretty decent in size. The layout is quite good as well. It is a proper separated bedroom from the living and dining area. 

The washing machine area and wardrobe is to one side of the bedroom and the bathroom is through it. 

This is a good and efficient way of space utilization. Moreover, it makes the available area appear much bigger than it is. (See below picture)

The unit also comes with a movable island in the kitchen area and a foldable ironing board in the closet area in the bedroom. A nice touch from the developers.

The 2 - 4 bed units are pretty decent in layout design as well. One of the rooms in either room types comes with a choice of either (i) construct the bay window flushed against the floor whereby there is storage room beneath it or (ii) construct the storage area flushed against the bay window so that you have a large storage area spanning from beneath floor level to the top edge of the bay window. 

Depending on the objectives of the purchaser, by using option (ii), a super single bed can be placed on top of the resulting platform, thereby freeing up more space in the room. 

From my understanding, there are four colour themes one can choose from from a very modern cool feel to a more warm tone. IIRC, all units will come with kitchen appliances including the fridge, cooker top, hob, oven and refrigerator. I think the one bed units will also come with a washer/dryer unit (cannot confirm).

According to the draft e-brochure that I received, the development has more than 30 different facilities sprawled across it. It also comes with a basement carpark with 912 lots (1:1 ratio), 13 handicapped lots, 6 electric car lots and 6 washing bays. It seems quite decent. 

My only concern is the quality of the carpentry work that was in the showflats. I really hope that the actual quality and finishing when the development is complete shows a vast improvement. I would put it down to the developers rushing to complete the showflat for the impending launch. 

All in all, unit sizes are pretty decent by today's standards and layouts are generally good. 

This development is worth considering for upgraders currently staying in that area and neighbouring towns. 

Another round of cooling measure coming up?

With the latest news of China implementing another round of cooling measures over the weekend, I can't help but think that there may be a similar one coming up soon by our government before the end of this week in anticipation of more hot money flowing in Singapore.
My gut feel tells me that it may be a tweak to the most recent round of cooling measures.
Maybe it will have something to do with putting a limit onto the Mortgage Servicing Ratio (MSR) for private residential property loans since the cap has been lowered for HDB loans.
Only time will tell if my fears will come true.

Upcoming Launches - Mar'13

These are the few upcoming launches coming up in Mar'13 in the mass market segment post the latest round of cooling measures implemented back in Jan'13.

In the East and North-east, we have D'Nest in D17, Pasir Ris. This is one of the largest development in Pasir Ris area consisting of about 912 units and is a JV between CDL, Hong Realty and Hong Leong Holdings. The land size is estimated to be over a massive 41,000 sqm.
This is a 99 yrs leasehold development and it is located within 7-10 mins' walking distance to Pasir Ris MRT station.
The unit mix ranges from the usual 1 - 4 bedroom units. However, it also has 5 bedroom dual key units and even 5-6 bedroom dual key penthouse units.
Facilities appear to be extensive as this is expected for a development of this size.
Prices are estimated to be starting from $6xxk onwards and sizes of the units from 484 sqf. This works out to approximately $13xx psf for the smallest units.
I believe this will development to appeal to upgraders living around that area and very likely first timers who have been holding back.

Next, we have the much awaited launch of Urban Vista in D16. I have been paying special attention to this particular development since the land parcel was sold to Fragrance Group and World Class Land.
This development is situated literally at the door step of Tanah Merah MRT station and is directly at the opposite end of the recently TOPed Optima. This is a 99 yrs leasehold development and will consist of 585 units including 3 retail shops.
The unit mix ranges from 1 - 4 bedroom units of Soho, suites and normal condo units. However, it also has 4 bedroom dual key units.
Prices are estimated to be starting from $6xxk onwards and sizes of the units from 430 sqf. This works out to approximately $15xx psf for the smallest units.

What is interesting about this project is its location. It is situated right smack in a private enclave consisting of only private residential condo and landed property. With an MRT station right by it plus another plot of land zoned commercial right beside it, the potential is enormous.
A further analysis revealed that FEO's eCO which is slightly further away was sold at a range of $11xx - $16xx psf successfully and almost all the units were sold out excluding the townhouses.
Also, KeppelLand also successfully won a recent tender of another plot of land opposite Tanah Merah MRT station at a whopping record price of approximately $792psf. This is about $116 psf more than the land which Fragrance Group and World Class Land won for 'Urban Vista'.
Furthermore, there are only 2 more plots of land available for sale opposite Tanah Merah MRT station.
Coupled by the fact that demand for rentals in that area and Simei is very high due to Changi Business Park and the 4th Uni later on, I think this development appears to have good potential.

Next, we have Bartley Ridge in D20. This is also a large development situated in Mount Vernon  consisting of about 868 units and is a JV between Hong Leong Group and CDL.
This is a 99 yrs leasehold development and it is located right by Bartley MRT station.
The unit mix ranges from the usual 1 - 4 bedroom units and 4 bedroom dual key units.
Facilities appear to be extensive as this is expected for a development of this size.
I do not have any information regarding pricing at the time of writing.
I believe this development will appeal to a lot of people because of its location and proximity to good schools in the vicinity, shopping malls and city area.

Lastly, there is a cluster housing project called Charlton 27 which situated by the junction of Surin Avenue and Charlton Road. This development is made up of 27 inter and corner terrace houses and is freehold. Units contains 4-5 bedrooms with en-suite bathrooms and a private lift. They are spread over a basement with split levels and an attic level. Each unit will also come with 2 carpark lots.
Shared facilities include a steam room, gym, a 50m lap pool and jacuzzis.
Prices are estimated to be about $3.XXm onwards.
Location is pretty ok and is about 10 mins by bus to Heartland Mall and Kovan MRT station.

I await with anticipation of the prices during the VVIP launches of those above-mentioned mass market condominiums.

7th Round of cooling measures - Jan 2013

This is the most comprehensive round of measures ever implemented by the government. The scope of the latest cooling measures are wide-reaching and it covers everything from public housing, private residential and for the first time industrial properties as well. Only commercial properties were left out.

For more details, go to MND's website or my website at the following link. Click Here

I can understand the rationale of the government's point of view in implementing these measures. This is to further prevent a speculative bubble from forming as prices of residential properties in all regions were rising on the whole. Even prices of industrial and commercial properties have gone up tremendously. This is probably due to unusually low interest rates that we are seeing now due to the effects of Quantitative Easing (QE) from the US. Too much hot money is flowing into Asia.

With so much liquidity flowing into Asia coupled with more property measures in HK and China to stop a bubble from forming, funds are flowing into Singapore at an astonishing rate.

Even with the implementation of Additional Buyer's stamp duties (ABSD) since the last round of cooling measures, I am still seeing a large volume of transactions at increasing prices, especially in mass market residential segment.

Only time will tell in the following 3-6 months if this latest round of cooling measures will work.

A quick intro

My interest for real estate started way back during the Asian Financial crisis back in 1998. I did not really experience the effects first hand as I was doing my duty serving NS. However, I remembered hearing and reading about people who made a lot of money in real estate prior to the crisis.

Subsequently, a lot of people also lost money in stocks and real estate during the crisis.

Fast forward to the SARS period and the real estate sector is on a down turn and wasn't moving much.
It was only sometime in late 2006 where I really started paying a little more attention to real estate news. 

I started venturing into investing in real estate from 2007 onwards. My interests in real estate continued till today and the rest is history.