Explore Parktown Residence – 8 Steps To An Elevated Living Experience

Over the past few years, the Parktown Residence has emerged as a premier mixed-use development in Tampines North, designed to enhance your urban lifestyle. This exceptional residential project combines modern living with vibrant commercial amenities, ensuring that everything you need is just steps away. From accessing world-class facilities to enjoying seamless transportation connections, your living experience here is meticulously crafted to enrich your daily life.

Join us as we explore eight important steps that will elevate your experience at Parktown Residence, making it the perfect place for you to call home.

Prime Location Benefits

Parktown Residence is strategically located in the heart of Tampines, offering you unparalleled access to crucial amenities and transport options. Nestled within the thriving Tampines North Township, this mixed-use development provides a vibrant lifestyle, perfect for both relaxation and convenience. With nearby parks and shopping complexes, you’re never far from enjoying the best of urban living.

Proximity to MRT and Transportation Links

The direct connection to the upcoming Tampines North MRT Station (CR6) is a game-changer for your daily commute. Being next to this vital transit hub means you can travel effortlessly across Singapore, whether for work or leisure. Additionally, major expressways, such as the Tampines Expressway (TPE), further simplify your access to various parts of the island.

Access to Nearby Amenities

With a wealth of amenities right at your doorstep, you’ll find everything you need within close reach. From shopping malls like Parktown Tampines, conveniently located beneath your residence, to top-rated schools and recreational facilities, your lifestyle is well-supported. Supermarkets and hawker centres are just a stone’s throw away, ensuring daily conveniences are always accessible.

To enhance your living experience, Parktown Residence places you at the center of diverse amenities, including educational institutions and recreational parks. Enjoy family outings at Tampines Central Park or indulge in a shopping spree at nearby malls, such as Our Tampines Hub and Tampines Mall. With multiple supermarkets and hawker centres in your vicinity, satisfying your cravings or picking up crucials is never a hassle. Exploring the vibrant neighborhood means you can enjoy a unique blend of convenience and community right in your own backyard.

Mixed-Use Development Features

There’s a unique advantage to living at Parktown Residence, where the harmonious blend of residential and commercial spaces creates a vibrant community atmosphere. This mixed-use development not only offers you a home but also a thriving retail environment, coupled with direct access to crucial amenities like a bus interchange and a community club, all designed to enhance your everyday living experience.

Overview of Parktown Residence

Overview, Parktown Residence is an impressive mixed-use development located at Tampines Avenue 11, featuring 1,195 residential units and a diverse range of commercial spaces. With a total land area of approximately 50,679.7 sqm and a maximum gross floor area of about 126,700 sqm, it provides an expansive environment for both living and leisure, ensuring that everything you need is conveniently nearby.

Commercial Spaces and Facilities

Commercial offerings at Parktown Residence enhance your lifestyle by providing accessible shopping and dining options right at your doorstep. The Parktown Tampines mall, dedicated commercial spaces, and a hawker centre ensure you have a variety of choices, whether you’re looking to shop, dine, or engage in community activities.

For instance, Parktown Tampines features approximately 150,700 sqft of commercial space, ideal for retail outlets and dining establishments that cater to your daily needs. You’ll appreciate the convenience of having a bus interchange and upcoming Tampines North MRT station just a stone’s throw away, making commuting and errands seamless. This thoughtful design ensures that the crucials are just a short walk from your home, enhancing your lifestyle and convenience.

Residential Offerings

There’s a diverse range of residential offerings at Parktown Residence, designed to cater to the evolving needs of modern living. With a total of 1,195 units, you can choose from an array of thoughtfully planned homes that blend comfort with contemporary design. The development emphasizes a harmonious lifestyle with easy access to both communal and private spaces, creating a welcoming environment for families and individuals alike.

Highlighting Lifestyle Amenities

Configurations of lifestyle amenities at Parktown Residence truly elevate the living experience, combining leisure and convenience seamlessly. The facilities include a relaxation pool, lap pool, and children’s pool, all designed to promote relaxation and recreation.

Amenities extend beyond recreational facilities; the development features top-notch indoor and outdoor spaces including a well-equipped gym, tennis court, and a clubhouse. These thoughtfully curated spaces not only cater to your fitness and relaxation needs but also foster a sense of community among residents. You’ll find yourself enjoying movie nights in the dedicated room or hosting barbecues at the pavilions, ensuring your living experience is not just about the unit but a lifestyle.

Educational Opportunities

After moving to Parktown Residence, you’ll find an abundance of educational opportunities in your vicinity. The area not only boasts a variety of primary and secondary schools but also features renowned tertiary institutions that cater to a wide range of academic aspirations, making it an ideal location for families and young professionals alike.

Nearby Primary and Secondary Schools

Above Parktown Residence, you will discover several respected primary and secondary schools. Within a 1 km radius, institutions such as Angsana Primary School and Meridian Primary School provide quality education for young learners. Moreover, renowned secondary schools like Meridian Secondary School and St Hilda’s Secondary School further enrich your educational community.

Tertiary Institutions and International Schools

Opportunities to pursue higher education are abundant near Parktown Residence, with esteemed institutions like Temasek Polytechnic and Singapore University of Technology and Design (SUTD) just a short distance away. Furthermore, you have access to renowned international schools, making your living experience not only convenient but also enriching.

Due to the diverse landscape of educational facilities nearby, you have the flexibility to choose an academic pathway that suits your needs and aspirations. Whether you’re pursuing higher education or seeking international schooling options for your children, Parktown Residence places you in a vibrant educational hub with all the resources at your fingertips.

Recreational and Green Spaces

To enhance your lifestyle at Parktown Residence, you’ll find an abundance of recreational and green spaces that promote well-being and relaxation. Nestled within the vibrant Tampines North Township, this development offers easy access to beautifully landscaped parks and biking trails, allowing you to enjoy nature and unwind from your daily routine.

Parks and Outdoor Facilities

Beside The M, you can explore a variety of parks such as the Tampines North Boulevard Park and Tampines Eco Green. These green spaces provide the perfect setting for leisurely strolls, picnics, and outdoor workouts, ensuring you stay connected with nature while enjoying a healthy lifestyle.

Community Engagement Areas

Facilities within Parktown Residence foster strong community bonds and promote a sense of togetherness. The development features a community club where residents can participate in various activities, workshops, and events, helping you connect with like-minded neighbors and create lasting relationships.

The community club is designed to encourage social interaction through programs tailored for all ages. You’ll find engaging workshops, recreational events, and fun recreational facilities that serve as a hub for residents to come together, collaborate, and foster a vibrant community spirit. With a focus on inclusivity, these areas allow you to cultivate meaningful relationships within your neighborhood.

Employment and Business Proximity

For residents of Parktown Residence, the proximity to various employment hubs enhances your urban living experience. With multiple business parks, you find ample job opportunities within a short commute. This mixed-use development is strategically located near crucial workspaces, making it ideal for professionals seeking a balanced lifestyle.

Nearby Business Parks for Job Opportunities

Among the close business parks, you can access renowned facilities such as Tampines Wafer Fab Park, Changi Business Park, and Pasir Ris Wafer Fab Park. These regions offer a spectrum of roles across technology, logistics, and various industries, ensuring a flourishing career landscape just moments away from your home.

Growth Potential in the Area

At Parktown Residence, you are positioned in a rapidly developing area with significant growth potential. The new Tampines North Township is set to attract more businesses and residents, creating a vibrant community that fosters growth and prosperity.

Considering the ongoing development, the region around Tampines North is on the brink of transformation. The integration of the upcoming Tampines North MRT station ensures seamless connectivity, further boosting local amenities and employment opportunities. This, combined with government initiatives to enhance urban spaces, signals a promising investment in both lifestyle and future value for your property.

Final Words

Ultimately, exploring Parktown Residence offers you an unparalleled opportunity to elevate your living experience. With its strategic location next to the upcoming Tampines North MRT station and a wealth of amenities right at your doorstep, you can enjoy the perfect blend of convenience and comfort. From the vast selection of unit types to the well-designed facilities, every aspect has been crafted with your lifestyle in mind. Embrace the future of living at Parktown Residence, where community and connectivity come together seamlessly for your utmost satisfaction.

Exploring The Continuum – A Comprehensive Guide To Singapore’s Iconic Condo Living

There’s no denying that Singapore’s condo living offers a unique blend of luxury, convenience, and community, making it an appealing choice for many. In this comprehensive guide, you will explore the various aspects of iconic condominiums such as The Continuum, from modern designs and amenities to the benefits of lifestyle and accessibility. You will gain insight into what makes these residences stand out and how they can enhance your living experience in this vibrant metropolis.

The Evolution of Condo Living in Singapore

All around Singapore, condo living has undergone a significant transformation, adapting to the city-state’s evolving landscape and diverse needs of its residents. Once perceived as luxury havens, condominiums have become important components of urban life, offering convenient amenities, vibrant community spaces, and an array of lifestyle benefits. This journey reflects not only architectural advancements but also shifts in societal ideals and living preferences.

Modern Developments

About the current waves of modern developments, you will find that today’s condominiums in Singapore showcase innovative design, sustainability, and smart technologies. Many developments like The Continuum feature eco-friendly initiatives, communal facilities, and integrated lifestyles that emphasize connectivity and convenience, catering to both young professionals and families alike.

Hence, the new wave of condominiums reflects a blend of luxury and practicality, with features such as sky gardens, outdoor recreational facilities, and state-of-the-art security systems. These modern touches ensure that you can enjoy the benefits of upscale living while fostering a sense of community and accessibility. As Singapore continues to grow, condominiums will remain a vital part of its urban narrative, representing both your dream home and a socially vibrant lifestyle.

Key Features of Iconic Condos

You’ll find that iconic condos in Singapore boast a range of key features that enhance your living experience:

  • Stunning architectural design
  • State-of-the-art security systems
  • Luxurious swimming pools
  • Extensive fitness centers
  • Landscaped gardens and recreational areas
  • Proximity to public transport and amenities
  • Smart home technology integration

Assume that these features contribute significantly to the allure and lifestyle offered by Singapore’s condo living.

Architectural Design

Around each iconic condo, you’ll notice a harmony of modern aesthetics and functionality. These developments often showcase bold, innovative designs that seamlessly blend with their surroundings, reflecting Singapore’s vibrant urban identity. Expect to see unique shapes, eco-friendly materials, and expansive glass facades that allow natural light to flood the interiors.

Amenities and Services

Design is an integral part of these luxurious living spaces, meticulously planned to provide a wide array of amenities and services tailored to your lifestyle.

Condos in Singapore prioritize an enriched lifestyle by offering exceptional amenities such as 24-hour concierge services, rooftop gardens, children’s playgrounds, and dedicated BBQ areas. You can also enjoy leisure facilities like spas and lounges, fostering a sense of community and relaxation. Additionally, many iconic condos provide access to exclusive services such as housekeeping, event spaces, and shuttle services, adding unparalleled convenience to your daily life.

The Appeal of Condo Living

There’s a unique allure to condo living that transcends mere convenience. In Singapore, these modern dwellings blend luxury with function, offering you an unmatched lifestyle experience. With an array of amenities at your doorstep and strategic locations, condo living encapsulates the essence of urban sophistication while promoting a well-rounded quality of life.

Lifestyle Benefits

Across Singapore’s vibrant landscape, condo living presents numerous lifestyle benefits that enhance your everyday routine. You can take advantage of top-notch facilities such as gyms, swimming pools, and communal spaces, all designed to foster relaxation and recreation. Furthermore, the proximity to shopping, dining, and entertainment hubs ensures that your lifestyle is both convenient and enjoyable.

Community and Social Life

Life in The M condo fosters a sense of community that traditional living arrangements often lack. Engaging with neighbors at organized events or utilizing shared amenities promotes social interactions and helps you build meaningful connections.

At the heart of condo living is the vibrant community spirit that encourages you to connect with others. Whether through weekend barbecues at the poolside or participating in fitness classes, you will find ample opportunities to engage with your neighbors. This sense of belonging not only enriches your social life but also contributes to a supportive network that enhances the overall living experience.

Investment Potential of Condos

Your journey into Singapore’s condo living not only promises a vibrant lifestyle but also presents lucrative investment potential. As urban living continues to gain popularity, investing in condos can offer both capital appreciation and rental yields, making it an attractive choice for investors looking for long-term gains in a thriving property market.

Market Trends

Along the evolving landscape of Singapore’s real estate, condo prices have shown a steady upward trend, reflecting increased demand driven by both local and foreign investors. With urbanization and lifestyle shifts, the appeal of condo living remains strong, leading to heightened competition and a stable rental market that favors property owners.

Future Outlook

Market forecasts suggest that the demand for condos in Singapore will continue to grow, spurred by new developments and the city’s status as a global hub. Factors such as government policies supporting property ownership and infrastructure improvements further enhance the investment landscape, creating an optimistic outlook for buyers and investors alike.

Further analysis indicates that emerging trends like co-living spaces and sustainable features will become increasingly important in the evolving condo market. As urbanization continues and lifestyle preferences shift, your investment opportunities within this sector are likely to expand. By staying informed on policy changes and market dynamics, you can position yourself strategically to maximize returns and secure a profitable venture in Singapore’s property arena.

The Process of Buying a Condo

Not every condo purchase in Singapore is straightforward, and understanding the process can save you time and money. You’ll need to familiarize yourself with necessary steps like securing financing, reviewing documents, and complying with regulations. As you navigate these phases, patience and due diligence will be your best allies in making an informed decision.

Steps to Purchase

Along your journey to buying a condo, start by assessing your financial eligibility, exploring different residential options, and engaging with a qualified real estate agent. You’ll then submit an Intent to Purchase, which solidifies your interest. Following that, conduct inspections and finalize the financing details before completing the sale with necessary documentation.

Common Pitfalls to Avoid

Condo buyers often overlook key aspects that might lead to costly setbacks. Being aware of these challenges can ensure a smoother transaction.

Pitfalls include neglecting to research the developer’s track record or the condominium’s management policies. You may also find yourself overwhelmed if you fail to review the financials and bylaws of the condo association. Ignoring the importance of location and resale value, or not getting a proper inspection, can result in unexpected repairs and depreciation. Stay informed and proactive to mitigate potential issues and enjoy your condo living experience.

Conclusion

So, as you explore The Continuum, you gain insight into a vibrant lifestyle that blends luxury, convenience, and community. By understanding the diverse offerings and unique features of each development, you’ll be better equipped to make informed decisions that align with your personal preferences and aspirations. Embracing this guide is a step towards experiencing the best that Singapore’s condominium living has to offer, enriching your daily life with sophistication and comfort.

Office rents in Grade A will be moderated as tenants become more cautious

Rent growth is expected in the Central Area to slow down in the following quarters due to an interest rate regime that will likely be higher for longer and economic uncertainty.

JLL estimates that the islandwide completion of office space will be at a seven year high by 2024. In the CBD alone, close to 1.9 million square feet of Grade A office space will be completed.
This is mainly due to two projects: IOI Central Boulevard Towers (1.33 million sq ft), and Keppel South Central (0.60 million sq ft).

JLL estimates there were still 1.1 million square feet of uncommitted space as of the 3Q2023.

URA’s headline index of office property rentals jumped sharply by 4.9% from 3Q2023, doubling the growth rate from the prior quarter, which was 2.3%.

URA’s Real Estate Statistics showed, however, that median rents declined for the first quarter in five for Category 1, office space. URA defines these buildings as being in the Core Business District which includes the Downtown Core and Orchard Planning Area. They were down 2.3% year-over-year.

Wong stated that the financial and professional service sectors remained the major demand drivers for office space within the CBD. These services made up 58% new leases during the first 9 months of 2023 compared to 26% of all 2022.

Find out more: The M Condo

Tricia Sing, CBRE’s head of Singapore and Southeast Asia research, says more diversified demand has made up for slack from the slowdown seen in the tech sector.
Private wealth, consumer goods and asset management were among the most active industries in 3Q2023.

Occupancy rates have increased from 89.2% at the end of 2Q2023, to 90% by 3Q2023. This is due to tighter market conditions, resulting from project redevelopments.

URA data indicates that about 0.45 million square feet was removed in 3Q2023, and this could be attributed the redevelopments of Faber House Central Square and Central Mall.

In 3Q2023, median rents for Category 2 (which URA defines is all other office spaces outside of category 1) fell for the very first time in 8 quarters. They were down 4.5% from one quarter to another.

JLL found that CBD Grade-A rents fell in the 3Q2023, putting an end to nine consecutive quarters of growth. JLL tracked the average gross-effective rents of CBD Grade A office space in 3Q2023, and they fell 0.3% on a quarterly basis to $11.29 PSF per month (pm), down from $11.32 PSF pm in 2Q2023.

Wong Xian Yang is the Cushman & Wakefield research head for Singapore and Southeast Asia. He says that the Downtown Core accounted for the majority of the net office demand in 3Q2023.
This was the largest qoq increase in net demand that Cushman & Wakefield has seen since 1Q2020.

In the Central Region during 3Q2023, the number of office strata transactions was only 57, the lowest level since the 3Q2020 period, when there had only been 47 transactions.

CBRE Research projects that the Grade-A office rental rates in the Core CBD are expected to increase by between 1.5% and 2.5% for the entire year.

The growth is higher than the projected GDP, but lower than the 8.3% growth rate in 2022.

Shophouse for sale on Jalan Besar starting at $22 mil

A freehold shophouse in 255 Jalan Besar, with a guide price as low as $22 million, is currently up for public auction. The three-storey house occupies a plot measuring 3,145 square feet and has a total gross floor area of 7,750 square feet.

The property has an untapped area of 1,685 sq. ft. under the Use Group A (Commercial) and the buyer will be able to maximize the plot ratio without having to pay additional land improvement charges, provided the relevant authorities approve.

The price guide for the shophouse is $2.838 psf, based either on the GFA or on the maximum allowed floor area, which is 9,435 square feet.

This property, located in Jalan Besar Secondary Conservation Zone, is zoned commercial with a plot ratio of 3 under the Master Plan 2019.

Read more about: The M condo

Joshua Giam, associate Director of Capital Markets, Singapore at CBRE, explains that a new owner can maximize the plot by building an extension to the rear or expanding the existing floor plate. The shophouse, subject to the approval of authorities, could be converted into F&Bs, clinics or serviced apartments.

Giam says, “These initiatives allow the new owner of the property to maximize the rental value and capital value.”

Michael Tay of CBRE, Singapore’s head for capital markets, says: “Given its exceptional attributes like freehold tenure and wide frontage as well as potential for naming or signage rights, investors and owner-occupiers are likely to be interested.”

He says that demand for shops in the city fringe has grown in the last year. Notable transactions included 203, 207 and 301 Jalan Besar being sold earlier this year for $38.5 million.

The closing date for the tender of 255 Jalan Besar is November 30, 12 noon.

The US housing market has now collapsed completely

For the first time since the Federal Reserve started raising interest rates, all aspects of the market for housing is poised to worsen.

The selling of resales has been declining since the beginning of 2022, as prospective sellers sit on their homes rather than give up the low rates of mortgage. The new homes offered relief to buyers. Now, no more. The recent increase in mortgage rates up to 8 percent has proved too much for builders of homes. They are likely to reduce construction in the coming months since profit margins are falling. Construction of apartments has also been rolling over in recent months as developers are hit with a combination of sluggish rent growth and high financing costs.

The discontent of potential buyers is well known. What are the macroeconomic implications? Given the importance of housing in the overall economy and the importance of residential construction, a slowing pace in construction will limit how fast the economy will grow, though not enough to cause recession in the next couple of quarters. To the extent that the brutal sell-off in Treasuries has been in response to hotter-than-hoped-for economic data, a paralysed housing sector will offer some respite.

The M condo Singapore

The housing market is responding in a different way to the recent run-up in mortgage rates in comparison to 2022. Then, the strike by homeowners boosted the demand for newly constructed houses. The only bright spot on the market were the home builders. The lack of inventory held costs high, allowing businesses to make use of their profits to lower mortgage rates and make it more affordable for prospective buyers. This doesn’t seem to be the case any more. The process of reducing home loan rates to 5.5 per cent – the ideal rate for potential buyers – is a lot more straightforward at 7 percent than around 8 per cent. Builders’ confidence is going like their stocks and profit margins. The National Association of Home Builders/Wells Fargo gauge of sentiment dropped to its lowest since the beginning of January. We should expect builders to cut back on their production plans in the coming months.

In the beginning of the year, the first multi-family homes were steady, whereas units under construction grew as delays in supply chains delayed projects. Over the last two months, there’s been a noticeable decrease in the number of housing starts. The numbers for September were 31.5 percent lower than last year and the number of units under construction fell for two straight months. This suggests that we are likely past this cycle’s peak. The rental market is expected to be a drag on the economy until 2024 as less units are being constructed and less are being constructed.

From an investor’s perspective, this all matters in a period of high consumption and lofty expectations for third-quarter real gross domestic product growth have driven a stunning sell-off in Treasuries. JPMorgan Chase. JPMorgan Chase believes that the economy expanded at a a rate of over 4 percent during the quarter. Part of that boost is due to housing, which is expected to boost GDP for the first time since 2021’s early years because of the recent increase in single-family home starts. This trend is not likely to persist into the following quarter, or perhaps 2024, until interest rates decrease.

The restart of student loan repayments as well as the United Auto Workers’ strike and the union representing actors on radio and television are all possible factors to affect consumption.

This confluence may finally offer investors some relief from the flurry of hot economic data, which has been weighing on both bonds and stocks as it bolsters the prospects of further tightening of monetary policy. If this doesn’t turn out to be the case, it will suggest that the labour market and the consumer market have more momentum than appreciated – an uncomfortable scenario when the highest costs for borrowing since mid-2000 have caused a market to be shattered.

Sales of developers drop 44.9% in September, smaller projects are launched in Ghost Month

The rising geopolitical tensions around the world and the potential consequences of the recent conflict in the Middle East may also dampen the spirits in the real estate market.

Analysts expect that the future is likely to be a slow one for buyers and developers because of the rising interest rates and macroeconomic uncertainty.

The ECs were the sole bright spot, with 118 units sold last month. The demand for ECs has been extremely strong because price-sensitive buyers are looking for alternatives to private homes. Eligible buyers of ECs can also qualify to get ABSD upfront Remission.

In September ECs 335 units were sold and 68 units launched. In August, 649 units were sold and 950 were launched.

Of the 118 EC units, around 100 came from Altura located in Bukit Batok, the sole EC project to be launched this year. This brought overall sales at the project to 88 per cent. Altura was also the top-selling project for the second consecutive month, with units being sold for a median of S$1,473 per square foot (psf) in September.

Due to the wide range of products available in the marketplace, consumers have become more selective in their selections.

According to data published by the Urban Redevelopment Authority (URA) on Monday (Oct 16), developers sold a total of 217 private homes in September, a decrease of 44.9 percent from 394 units that were sold in August.

The cooling measures that were implemented in April contributed to the “cloudy” and “slightly chilly” buyer sentiment.

Read more about The M here.

The sales of property in the OCR dropped 64 percent month over month, to 70 units. In the Rest of Central Region, it dropped 33 percent between the months.

Market watchers are predicting that the number of private home sales without ECs, will range between 6,000 and 7,000 this year – a tad less than the 7,099 units sold last year.

It’s not too surprising that home sales fell following the Hungry Ghost Festival, which was over in mid-September.

Just one new project was launched in September which was a 999-year leasehold The Shorefront at Jalan Loyang Besar in the Outside Central Region (OCR) and had three units sold at a median price of S$1,902 per square foot.

The most recent September sales figures that excludes executive condominiums (ECs) are less than a quarter of 987 units that were sold in the same month in 2022. It is also the month that has the lowest number of sales in the year thus far, in addition to the month of December 2022 when developers sold 170 units.

The quantity of private home sales declined in September due to the absence of any new projects that were launched in the unfortunate Hungry Ghost Festival.

Last month, Altura set a new benchmark price for the EC market as selling 980 square feet of space for S$1.6 million, or S$1,585 per sq ft, he added. This eclipses the previous psf price high held by Copen Grand, which stood at a price of S$1,499 psf.

The freehold Pullman Residences Newton was a distant second, with 21 units sold for an average price of S$3,258 psf. In the three segments of the market that were available, the Core Central Region (CCR) held up “relatively better” than the two other segments. The 76 units in CCR comprised 35 percent of condo and private apartment sales during September.

Buyers are weighing the increased Additional Buyer’s Stamp Duty (ABSD) against borrowing costs as well as widespread inflation, uncertainty about the economy, and an increasing number of public housing options in the form of Build-To-Order launches in good areas.

Developers will have to be sensitive in pricing for these coming projects to help increase the volume of sales. There won’t be significant price reductions as the developers are already committed to capital expenses.

Developers may choose to delay launches until 2024, when rates stabilize and sentiment increases, due to lower sentiment and the still high interest rates and because of the December holiday season.

This brings the number of primary home sales for the first nine months of 2023 at 5,407 units, which is 15.6 per cent lower than the 6,409 units transacted during the same time the previous year. This is the lowest level since 2016, when 5,656 homes were sold.

In the days leading up to the festival, old belief systems have some buyers staying away from home purchases. Developers may also avoid making announcements about new ventures during this time.

The OCR will be the main focus of most major project launches in the near future. The 265-unit Lentoria as well as the 474-unit Hillock Green are both part of the newly constructed Lentor Hills Estate. In Jurong, the J’den Condo, located on the former JCube Mall, will feature 368 units. The 440-unit Sora condominium, located at Yuan Ching Road, will also be constructed. The 341-unit Hillhaven is located in Hillview Rise.

CDL is celebrating its diamond jubilee by winning the seventh Top Developer Award

Two of CDL’s executive condominium (EC) developments were recognized as the best projects in their respective categories. Piermont Grand received the award for the Best Executive Condominium in the category Completed (Non Central) while Copen Grand was awarded the award for the Best Executive Condominium in the category Uncompleted.

Piermont Grand is also certified with the Universal Design Mark Goldplus and Green Mark Platinum by the Building and Construction Authority. Sustainability features include an intelligent-energy-and-water-monitoring-system with water leak-detection algorithms for tracking and managing power and water consumption in the common areas. The energy- and water efficient features could help reduce the CO2 emissions by over 572 tonnes each year.

Copen Grand is Singapore’s very first Green Mark Platinum super low energy EC. It integrates smart technology, green design and luxury living. Photovoltaic solar systems are used to provide energy for the clubhouse and function rooms, as well as the swimming pool, gym, and swimming pool.

Read also: The M Middle Road

ECs is a unique public housing project that is developed by private developers and sold to Singaporean households who qualify. ECs fill a niche in the housing market, providing condo amenities at affordable prices. CDL has been able to do this at Piermont Grand, Copen Grand.

CDL is not immune to the challenges of the market, such as a series of cooling measures for property over the last few years, high interest rates, and a cautious macroeconomic outlook in Singapore and globally.

CDL’s innovative plans are centered around digitalisation. The company will integrate CDL Home Sales – its proprietary electronic system – which provides homebuyers with a transparent and efficient purchasing experience – with other digital solutions in its wider in-house ecosystem, such as the My CDL Home app. The app will allow home buyers to receive monthly updates about the progress of construction in their project, including an estimated TOP and specific information for their unit. Home buyers can also view their payment schedules and billing schedules and make an appointment to collect keys after TOP.

Market watchers will also be looking out for CDL’s upcoming project in Woodlands, Champions Way. Last month, the developer won the site after submitting a winning bid of $294 million. This equates to a land rate per square foot of $904

After the government announced a series of cooling measures for property in April of this year, the company decided to delay the preview of Newport Residences. This 246-unit residential project is located on Anson Road, in Tanjong Pagar. These measures included the doubling of foreign buyers’ additional stamp duty to 60%, from 30%. Newport Residences was developed from the former FujiXerox Towers.

The Whistle Grand, a 716-unit development recently completed at West Coast Vale, won top awards for Top Development, Landscape Excellence and Design Excellence in addition to Innovation Excellence. Whistler was first offered for sale in November 2018, and it was sold out by October 2021. Its temporary occupation permit was obtained in April 2018.

City Developments Ltd. (CDL) has had a memorable year. The property group celebrated their diamond jubilee in October and won the Top Developer Award for the seventh time at EdgeProp Singapore Excellence Awards 2023 (EPEA).

The EPEA jury recognized several CDL residential projects that were completed or uncompleted and demonstrated excellence in design, landscape, sustainability and innovation. The award-winning CDL projects of this year were designed to cater to a wide range homeowners and buyers from Singapore.

The launch weekend saw 26.5% of the units sold by The Continuum at prices that averaged $2,732 per square foot

Hoi Hup Realty & Sunway Developments sold 26.5% of The 816 units of The Continuum during its launch weekend, at an average of $2.732 per square ft.

The joint developers said that 216 condominium units were sold, and there was a healthy demand for all types of units.

The project is located in Thiam Siew Avenue, off Tanjong Katong Road. It contains 816 units spread over six tower blocks of 17 or 18 stories. Over 60 percent of the available units are two and three bedroom apartments.

The last project of this type in the Katong district was Haig Court, which launched in 2004.

The majority of buyers were locals or first-timers. A number of units were sold in larger sizes, which indicates that they were bought by families to live in.

The Continuum is a freehold large development that has attracted buyers. The majority chose to own two-bedroom and three-bedroom apartments.

These larger developments are more likely to be resold at a higher price than smaller ones. This is because there is more demand for resale and more transactions that result in higher prices.

“Today’s buyers are thinking long-term, and their ability to make more money and return on their purchase is an important consideration.”

The M condo had just obtained TOP. Find out more via the link.

The “keen” demand for homes in the District 15 was reflected by the encouraging take-up rates of units. The launch of Tembusu Grand in April sold 53% of its 638 apartments at an average of $2,465 per square foot.

The average price for The Continuum will likely be higher than the Tembusu Grand. This is due to a premium being paid for freehold property, which has a tendency to hold its value better in the long run.

The site was purchased by the developers in November 2021, for $815,000,000. Later, they added a smaller plot of land on 2A Thiam Siew Avenue.

The Continuum took-up rate was lower than 75 percent at Blossoms By the Park, that was the first residential development to be launched following the implementation of the latest cooling measures. Blossoms By The Park had only 275 available units.

Both developments sold well despite the cooling measures.

In the past 16 months, developers had sold freehold non-landed properties in District 15, with a median transaction price of $2480 per square foot. If a new condo project is launched with a much higher price than similar projects in the area, sales will be slower.

In both the Buona vista and District 15 areas, the percentage of housing units purchased by foreigners was low at less than 5% of all transacted units.

Source: https://www.straitstimes.com/business/the-continuum-sells-265-of-units-over-launch-weekend-at-prices-averaging-2732-psf

CDL will launch The Myst condo in Upper Bukit Timah by 2H2023

City Developments Ltd. (CDL), a Singapore listed property group, announced May 19th that they would launch The Myst condo at Upper Bukit Timah Road some time in 2H2023. Cashew Station of the Downtown Line can be reached in just five minutes by foot.

CDL, however, has rescheduled a preview originally planned for April 29, for Newport Residences. The 246-unit Newport Residences freehold is part a mixed-use, office, F&B and retail development. It is a redevelopment project of the former Fuji Xerox Towers Commercial Building on Anson Road at Tanjong Pagar, District 2 of Core Central Region.

CDL delayed the preview in response to the recent property cooling measures, which came into force on April 27,2003. Foreigners purchasing residential property now pay an additional stamp duty of 60% instead of 30%. ABSDs for Singaporeans purchasing their second and subsequent residential property have increased to 20% and 30% respectively.

CDL believes that in the short-term, the latest cooling measures for property will affect projects with a greater proportion of foreign demand. This is typically high-end/luxury homes located in prime districts and CCR.

The group anticipates “minimal impacts” in the mass and middle-tier segments, where the majority of buyers are locals or PRs. This was evident by the launch at one-north of EL Development’s Blossoms by The Park, where 75% sold out on the day of the launch, April 29, at an average price $2,423 psf. The Continuum, an 816 unit freehold, was launched by HoiHup and Sunway Property in the following weekend. 211 units (26%) were sold at a price of $2.730 psf. The 732-unit Reserve Residences, a joint-venture between Far East Organization & Sino Group at Jalan Anak Bukit will be launched on May 27.

View The M pricing here.

Analysts estimate the group may be able to recognise around $5 billion in residential sales that have not been billed over the next 3 years. CDL has about 1,500 unit launch pipelines in four projects. 80 percent of the units that are not sold are in the middle-tier or mass-market segment, and have less impact from the new cooling measures targeted mainly at investors and foreigners.

Source: https://www.edgeprop.sg/property-news/cdl-launch-myst-upp-bukit-timah-2h2023-impact-cooling-measures-residential-portfolio-manageable

Perfect Ten will be launched for sale with prices starting at S$2.5m

The Hong Kong-based developer CK Asset Holdings has bet on the continued buoyancy of the luxury market as it prepares to launch Perfect Ten, its upcoming project for sale in December 19.

Perfect Ten will have 230 freehold apartments. These include 2-bedroom units spanning from 753-797 sq ft and 3-bedrooms ranging between 1,227-1,281 sq. ft.

The price ranges from S$2.5M for 2 bedroom units on lower floors up to S$2.9M for the ones on higher floors. Prices for 3-bedroom apartments range from S$3.9million on lower floors up to S$4.4million on higher floors. The price per square foot is approximately S$3,200 – S$3,700.

Starting from Dec 8, the sales gallery is open to public.

Perfect Ten will have twin towers of 24 stories, located on the site where City Towers used to be. City Towers, which was sold to CK Asset in 2019, via collective sale for S$401.9m or a land price of S$1,847 psf after development costs and charges.

Francis Wong of Property Enterprises Development, Singapore (linked to CK Asset), said: “We are optimistic about the demand for properties in 2022.”

The global economy will recover due to the increased vaccination rate and opening of borders. We will continue to monitor the economy and border policies of various countries, especially with the emergence the Omicron.

Read more: The M showflat

Wong believes that the luxury market will gain more ground. He noted that the luxury market in Singapore continued to be hot and the demand for luxurious homes was steadfast.

Wong added that the demand for luxury homes is facilitated by the rise in incomes locally and the higher standard of living. Singapore continues to be a favorite among foreign buyers.

Wong said that investors and buyers may come from Hong Kong and China, as well as South-east Asia and South-east Asia.

CK Asset, backed by Hong Kong tycoon Li Kashing, has a significant portfolio in Hong Kong and China. It also has a presence both in Singapore and in the United Kingdom. 21 Borrett Road in Hong Kong’s Mid-Levels set a new record for luxury housing prices earlier this year.

It has also developed in Singapore projects like Stars of Kovan on Upper Serangoon Road and Thomson Grand, Upper Thomson Road. It was also involved in the development of One Raffles Quay and Marina Bay Financial Centre as part of a group that included Keppel Land.

Perfect Ten, which will be TOP by November 2025, has a “crystal-sky” private elevator and a clubhouse. It is only a 5-minute drive away from Orchard Road and has nearby schools like Anglo-Chinese Primary School, Singapore Chinese Girls’ school.

Source: https://www.businesstimes.com.sg/property/perfect-ten-bukit-timah-launch-sale-prices-starting-s25m

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