It seems that there is a bleak outlook on Sentosa for home sales, even though elsewhere seems to be experiencing a growth in the demand for higher end homes, which includes District 4’s surrounding areas.
According to data provided by SRX Property for Pavilion at Potong Pasir, in the 2nd Quarter Keppel Bay’s Caribbean sold close to 10 units, a figure that was up the 1st Quarters 3 sold.
Going by lodged caveats, the primary market was 8 units being shifted at Keppel Bay’s Corals during the 3 month period to June 30th, a figure that was up from one in the 1st Quarter for Pavilion at Potong Pasir.
Pavilion at Potong Pasir
The Sentosa area really is the only place in Singapore where one can get this quality of assets so close to the sea and the central business district. One real estate salesperson believes that prices have fallen as far as they can go now and are not likely to fall further.
One example could be seen in the two units that were sold at Caribbean for an average figure of $1,456 per square foot last month, a figure that was much lower than the 5 units sold in June 2013 for an average of $1,648 per square foot.
“Will the Woodlands Regional Centre be a huge success?
Some weeks ago, developers were extremely interested in a particular prime commercial development site. The highest bid of 634 million Singapore dollars or 907 dollars per square foot PPR camefrom a consortium composed of Sekuski House, the Far East Organization and the Far East Orchard. The site was the first commercial site to be offered for public tender since the regional centre was named as the Northern Gateway for Singapore for Wandervale.
There was strong demand for the site, eight bids,in all,were received, including some from large developers. The top bid for this site was substantially more than that which won the first development site, at the Jurong Regional Centre, in June 2010, designated for mixed commercial/resident/hotel use, on which six developers bid and the top bid was 749 million (650 dollars psf ppr).
Wandervale in Choa Chu Kang
The strong interest in the current site is evidence of confidence in the forthcoming Woodlands Regional Centre, which lies conveniently close to Iskandar, Malaysia’s special economic region. Growth in Iskandar was further enhanced by the announcements made by the Singapore and Malaysian Prime Ministers after their annual conference meetings.
The three possible sites for the planned Singapore KL High Speed Railway station have been announced and the new Woodlands Johor Rahru RTS Rapid Transit System is on schedule for completion before 2018. Does this mean that the transformation of the area will be as successful as those in the Jurong and Tampines regional centres near Choa Chu Kang Wandervale
Real estate firm, Knight Frank, produced its most recent Prime Global Cities Index report, which has shown Singapore to be the worst performing city with regard to luxury residential prices, out of the 35 global cities that the firm monitors. For 2015’s 1st quarter the city-state saw a drop by 12.6% in the luxury prices sector in comparison to what those figures were at this time last year.
Compared to the previous period of three months, the 1st quarter of 2015 saw a quarter on quarter drop of 3.7% for prime residential prices for Thomson Impressions here.
In March, Knight Frank published its 2015 Wealth Report, which clearly indicate that the high end residential sector of Singapore’s market have been greatly affected by property cooling measures implemented by the government.
Thomson Impressions by Nanashan
At the time of this report, research head for Knight Frank, Alice Tan, had stated that it was probably an ideal time for individuals in the “ultra high” net worth category to look once more at the area’s luxury residential houses. The firm believed that, should the government choose to relax these cooling measures for this particular market segment, a recovery could be obvious.
On the other side of the spectrum, It was San Francisco, California which made the top of the firms list, producing the maximum annual price growth at 14.3%. Bengaluru, India and Miami, Florida closely followed with price growth figures at 13.6% and 12.2% respectively for Thomson Impressions.
Upper Thomson Road Condo
Prime property is considered, by Knight Frank, to be the top 5% in all of the cities that it surveys with respect to the broader market in the residential housing sector Thomson Impressions.
A variety of research analysts believe the asking prices definitely will improve because marketplace demand among property investors remains robust. It is noted that house purchase prices drop could possibly be the deficiency of market demand . Regardless of sluggish growth within the city state’s home and property market, consultants think that there is still properties in Singapore that is worth taking a look. Below are a few recommendation together with tricks for real estate agents with regards to market home despite the home market conditions.
We should have an article for this particular news reports with respect to High Park Residences rapidly.
You should consider your choices now, as this opportunity will not last if the current trend in condominium buying frenzy continues. There may be only a few remaining in a few weeks.
To get more information and details on the proposed Vales EC complex layout with all local amenities click here http://www.the-vales.com/project-details/.
The many different floor plans can be obtained here to help you in your choice here as well http://www.the-vales.com/floor-plans/.
Amenities that make the Seng Kang area a small slice of paradise
According to a 2013 Sample Household Survey, which is done every 5 years, 91% of household owning HDB flats were satisfied. This figure shows a slight drop from 2008’s figure of 96.4%.
It seems that the main concern of HDB flat owners’ are a flats condition of aging, according to media reports that have cited HDB. This might affect the sales of Sol Acres EC as many could be buying HDB instead of new ECs in the Choa Chu Kang area.
The newest condo launch to take place in Singapore is Sophia Hills, a site where Trinity Theological College and the Methodist Girl’s School once sat. The prime District 9 location is one of the most sought after residential hilltop pieces of land and is quickly becoming Singapore’s property hotspot. The unique development has been integrated amongst some of the areas protected and rare structures. Mount Sophia is in close proximity to the Central Business District as well as Orchard Road, which is considered to be a shopping haven for many. The development is also a short walk from the Plaza Singapura Shopping Mall, the Dhoby Ghaut MRT Station and the soon to come Bencoolen MRT Station which will run along Bencoolen Street. This line will reside right next to Mount Sophia Hill. Future residents will be able to enjoy easy access to other areas of the island as well.
The government will be developing a private industrial property, which is part of a plot measuring 1.23 hectares, for public housing. The property is located at Number 16 King George’s Avenue.
In the past year we have seen around 2 out of 5 condos in Sentosa being resold at a loss, a symptom affecting many luxury homes in the area, reported industry watchers. This is due to financing constraint putting potential buyers off.
According to reports from URA Realis and data compiled by STProperty.sg, only 31 units have swapped owns since May of 2013 at 6 projects in Sentosa. These are The Azure, Marina Collection, The Oceanfront, Seascape, The Coast and The Berth.
A new mixed development at Yishun Central, North Park Residences, is due for launch soon bt Fraser Centrepoint. The tender is won by child company North Gem Development at a price of $1.43 billion dollars. According to analyst, the bid for North Park Residences is 47% higher than the next highest bidder Far East and it works out to be $1,077 psf for the piece of land. The price is $1,077 (psf ppr) and is considered one of the highest for a 99 year leasehold site.