No plans for more measures to cool property market by the Govenment

As annouced by the Government of Singapore in Parliment, there will be no more intervention as at present since the END of Deferred Payment Scheme for uncompleted privates properties.

On 26th October 2007, Friday, The government pushed the STOP button for Deferred payment Scheme for uncompleted projects. Meaning, buyer would only need to fork out maximum of 20% of the property sales price and then do not need to pay the balance until the development is built and ready to occupied. (TOP-Temporary Occupation Permit). Buyer need to pay 80% of the property price upon TOP.

‘There is no need and there is no intention for us to take any further action,’ National Development Minister Mah Bow Tan said in Parliament yesterday.

Latest Launch – at District 12

2 blocks of ICONIC Building – 1 block of 18 storey & 1 block of 12 storey.

An exclusive 106 FREEHOLD residential apartments surround with the tranquility area, with the bustling city life minutes away, and contemporary lifestyle awaits you.

You are very near to Toa Payoh MRT and HDB Hub, CTE, PIE(Jurong) & PIE(Changi).

Property District/Address
Located in D11/12 of Singapore at Ah Hood Road

Tenure
Total of 106 units at FREEHOLD status

Types of Bedroom
1/2/3 and 3 Bedroom Penthouse

Facilities
Infinity Lap Pool
BBQ Pits
Gymnasium
Water Features and Landscaping Garden

Average Sizes
1 Bedroom – 506 sqft
1+1 Bedroom – 710 sqft
2 Bedroom – 926 to 1,076 sqft
1+1 Penthouse Bedroom – 1,238 sqft
2+1 Penthouse Bedroom – 1,615 sqft
3 Penthouse Bedroom – 1,550 sqft

 For more enquiries, bookings, viewing of floor plans, please do not hesitate to contact me now.

Formula One motor-racing

The very 1st race will happen in Singapore on 23rd September 2008. Being the 1st ever night street circuit in F1 History… … What would this imply?

F1 race may boost residential, commercial property value

Posted: 09 October 2007 2027 hrs

SINGAPORE: Formula One motor-racing action may boost the value of residential and commercial properties around the Marina Bay area.

According to some analysts, the premium comes with being close to possibly the first-ever night street circuit in F1 history.

Many of today’s Formula One race tracks are built far away from the city area, and only a handful of them have their circuits right in the heart of the city.

Analysts said history shows that properties near such circuits have enjoyed a premium in being close to the F1 action.

Mark Gallagher, International Motorsports Consultant, Eden Rock Sports, UK, said: “The more prestige areas close to the track also benefited because people aspire to live near the Grand Prix track and it became a big talking point. Now when people move to Melbourne, the first thing they ask is how far the location is from the Grand Prix track.”

Singapore is set to chart a new course in F1 history with a circuit that boasts the city skyline as a background.

Properties aside, businesses in the area are also expected to get a boost.

But analysts said it may take one or two years for Singapore businesses to maximise their leverage from the Grand Prix race.

Mr Gallagher said: “First of all, there’ll be different levels of corporate hospitality that they can buy into. You can run Grand Prix-style promotions in your businesses. There’s nothing to stop you from doing that. If you’re careful with the intellectual property of Formula One, you can still run promotions and activities.”

The F1 event in Singapore will take place on 28 September next year. It is expected to bring in about 80,000 tourists.

- CNA/so

Taken from Channel News Asia.

Subsales picking up after lull??

There is this Article in The Business Time which I have extracted certain points on Sub-Sale property market in the current quarter. There are some points that I have highlighted which I shared the same thoughts.

“Subsales picking up after lull as sellers temper their demands. Lock in profit if margin is good, some agents advise” By KALPANA RASHIWALA

QUOTE

 

In some instances, the spur to sell in the sub-sale market and take a profit now is that the projects may be receiving Temporary Occupation Permit (TOP) within the next year and those who bought their units on deferred payment schemes from the developer, paying only 20 per cent of the purchase price so far, will soon have to pay up another 65 per cent of their purchase price.

‘Our advice to these investors is that if there is a good margin from their investment, they could lock in their profit now. They can always reinvest in another property,’ Mr Jason Tan says.

‘Buyers picking up units through the sub-sale market are also starting to feel more confident again, after the stock market’s recovery. They’re prepared to hold the properties as a mid- to long-term investment but are also eyeing the possibility of selling much sooner, when the projects receive TOP. The outlook is still good, as there will be limited supply of completed brand-new developments in Districts 9 and 10 over the next six to 12 months,’ he added.

However, ERA’s Mr Soh sounds more cautious. ‘Supply in the subsale market is more than demand. I may be wrong but I think the high-end residential property clock is at 9 o’clock. My advice is to take a profit now and not be too greedy. Supply in the subsale market is greater than demand. It’s tough to find buyers in the subsale market now, unless you go overseas.’

Look at how Fantastic the SALE for PARC Condo at West Coast Walk is… …

The Business Times

70% of The Parc Condo taken up in one week

By KALPANA RASHIWALA Published August 9, 2007

A JOINT venture between Chip Eng Seng and Lehman Brothers has sold about 70 per cent of their 659-unit freehold project, The Parc Condominium, at West Coast Walk, over the past week.

The developers began selling the project on Aug 1 at an initial average price in the low-$800 psf range but this had increased to the high-$800 psf range by yesterday evening, according to the project’s sole marketing agent Savills Singapore.

As of 7pm yesterday, about 460 units had been sold and sales were still going on.

The Parc Condo’s pricing is slightly higher than that of the nearby Botannia condo, where units are going for just over $800 psf on average, up from the initial $700 psf when the project was released around March/April. The 493-unit condo, being developed by a City Developments-CapitaLand tie-up, is about 70 per cent sold. It is being built on a 956-year leasehold site.

Chip Eng Seng and Lehman Brothers are developing The Parc on the former Westpeak site. The acquisition cost of the site in April last year was $206.09 million, reflecting a unit land price of $348 psf of potential gross floor area inclusive of an estimated development charge of $21.5 million then.

Savills said that most of those who have bought units in The Parc Condo over the past week are locals, while foreign buyers made up only a small number. ‘The local buyers seem to be buying mostly for their own use; we’re seeing a lot of young families. Some purchasers also picked up units for their children. Those who sold their Westpeak homes through the collective sale last year were given the first bite of selecting units,’ a Savills spokesman added.

The development comprises seven 24-storey blocks. Units range from one bedders (plus study) to five bedders. There are nine five-bedroom apartments of 2,433 sq ft each. Penthouses come with either three or four bedrooms, the majority above 3,000 sq ft, inclusive of roof gardens. A typical three-bedroom apartment costs around $1.1 million.

Taken from the Business Times

I have been maketing this project since 20/06/07

New FreeHold Tallest Condominum at West Coast Walk

I would like to Congrates my Buyers who had made excellent decision to purchase thier units in this project.