Home Blog

[email protected] Coast By KDC At Upper East Coast Road Near The Upcoming Siglap MRT Station

0

In Nov 2017, Lodge 77 at Upper East Coast Road was sold for SGD29million through an enbloc sale to local developer KTC Group, and is currently being re-built into a brand new mixed use development.

Named [email protected] Coast, residents can look forward to a modern lifestyle in one of Singapore’s most established residential hotspots.

[email protected] Coast offers a minimalistic black and white architecture, yet its simplicity conveys a regal elegance. With only 3 stories of residential units available, [email protected] Coast is perfect for those looking for an exclusive and private lifestyle.

However, [email protected] Coast’s biggest draw is still the wide array of amenities available in the area. Residents can enjoy the many shopping malls, cafes and eateries right at their doorsteps.

The Siglap Area Offers Plenty Of Convenience And Amenities

The upcoming Siglap MRT Station, due to be completed in 2024, is within a 4-5 minute walk. Other stations like Bedok, Eunos and Paya Lebar are close by as well.

Drivers will rely on ECP, PIE and KPE to connect to other key parts of Singapore, including Changi Airport and CBD.

School-wise, the east coast area is renowned for the high concentration of top quality education institutions. Some of them include Tao Nan School, Victoria School, Opera Estate Primary School, Global Indian International School, Temasek Junior College, Victoria Junior College, Ngee Ann Primary School, Bedok Green Primary School and Ping Yi Primary School.

Victoria School Is One Of The Top Secondary Schools In Singapore

[email protected] Coast is surrounded by a variety of bars, restaurants, coffee shops and cafes. Not many developments can boast the impressive line-up of F&B options within the vicinity.

Popular food havens like Simpang Bedok, Katong and Joo Chiat are sure to satisfy cravings for local culinary delights.

Nearby shopping malls I12 Katong, Bedok Mall, Siglap V and Parkway Parade provide more dining and shopping options.

Residents Can Chill And Hangout At I12 Katong

Another major attraction close to [email protected] Coast is East Coast Park. Chock full of outdoor activities, greenery and hang-out spots, it’s the perfect place to spend a relaxing weekend with friends and family!

The Nearby East Coast Park Is A Perfect Weekend Getaway From Busy City Life

Although considered a residential haven, [email protected] Coast offers high potential for investors as well.

Its city fringe location is likely to attract plenty of rental demand, while improvements in the area can lead to significant capital appreciation.

In summary, [email protected] Coast is a versatile development suitable for both home stayers and investors.

[email protected] Coast Project Summary

DeveloperKDC Development Pte Ltd
TOP dateTo Be Announced
Total number of units41
TenureFreehold
Address77 Upper East Coast Road 455218
SpecificationsMixed Development With Residential Units On 2nd-4th Floors, And Commercial Units On 1st Floor
Type of units1 to 4 bedroom units

[email protected] Coast Location

[email protected] Coast is within a 4-5 minute walk from the upcoming Siglap MRT Station, part of the Thomson East Coast Line set to launch in 2024. Current stations like Bedok, Eunos and Paya Lebar are close by as well.

Major expressways ECP, PIE and KPE easily connect drivers to other key parts of Singapore, including Changi Airport and CBD.

[email protected] Coast Pricing

To Be Announced

[email protected] Coast Floorplans

[email protected] Coast Site Plan

Nearby Amenities

[email protected] Coast is close to many top schools in Eastern Singapore. Some of them include Tao Nan School, Victoria School, Opera Estate Primary School, Global Indian International School, Temasek Junior College, Victoria Junior College, Ngee Ann Primary School, Bedok Green Primary School and Ping Yi Primary School.

The surrounding area is populated by an impressive mix of bars, restaurants, coffee shops and cafes. Residents can indulge in different culinary delights on a daily basis.

Popular nearby food havens like Simpang Bedok, Katong and Joo Chiat provide even more eating options. Foodies will be in for a treat!

Nearby malls I12 Katong, Bedok Mall, Siglap V and Parkway Parade offer modern shopping experiences. Residents can buy anything from groceries to branded goods from the various retail outlets available.  

Another major attraction close to [email protected] Coast is East Coast Park. Be it going for a morning jog on the weekends or having a BBQ feast in the evenings, it’s the perfect place to spend a relaxing time with friends and family!

Comparative market analysis

District 15 property prices have traditionally been robust. The city fringe location and easy access to a wide range of amenities make the area one of the best places to live in.

Further developments underway, such as new MRT stations to improve connectivity, is set to enhance District 15’s living conditions.

This is likely to reflect in property prices. Meaning to say, current prices are predicted to increase even more over the next few years.

This bodes well for [email protected] Coast, which will benefit from the area’s improvements and see a gradual year-on-year pricing increment.

Investors and buyers who take action fast, can capitalize on this uptrend and snag their preferred units at an under-valued price.

Capital Gain Overview

The table above shows the tremendous capital gain potential of District 15 properties.

2 key factors are usually present when analyzing capital gain numbers: Demand and area improvement.

District 15 properties tick both boxes, and that’s why capital gain numbers have soared.

When [email protected] Coast hits its TOP date 3-5 years from now, it is likely to be high-in-demand, especially since it only has 41 units available.

District 15’s living conditions will have improved massively as well, which is projected to result in a spike in [email protected] Coast’s capital gain figures.

Rental overview

City fringe areas like District 15 have always been popular among tenants. Convenience and close proximity to the city are always major draws for professionals looking to rent.

What sets District 15 apart from other city fringe locations is the superior living environment. More amenities usually means higher standard of living.

[email protected] Coast’s exclusivity (41 units only) can be a differentiating factor too. Many tenants value privacy, and not many developments can offer peace and quiet in our bustling city.

Those factors are likely to elevate [email protected] Coast to one of Singapore’s most in-demand properties among potential tenants.

Contact us for [email protected] Coast pricing and floorplans today!

My budget is (required, select one)
Up to S$750,000Up to S$1mUp to S$1.25mUp to S$1.5mUp to S$1.75mUp to S$2mUp to S$2.5mUp to S$3mUp to S$4mAbove S$4m

I am buying for (required, select all that apply)
Own stayInvestmentOthers

Daily property news 9 Apr 2020

0

AFTER putting it on the backburner, Keppel Land may finally be going ahead to redevelop its office asset in Hoe Chiang Road.

The property comprises two towers – Keppel Towers and Keppel Towers 2 – that have been been vacated.

Completed nearly 30 years ago, the property may be ripe for redevelopment to take advantage of its strategic location at the gateway to the much-talked-about Greater Southern Waterfront.

https://www.businesstimes.com.sg/companies-markets/is-kepland-ditching-residences-in-hoe-chiang-rd-project

FRASERS Property has temporarily shut its three hotels in Germany and will also progressively close its 11 hospitality properties in the UK.

In Australia, the real estate giant has closed all food and beverage (F&B) outlets at two hotels – one in Sydney and the other in Melbourne – in the interim.

In Singapore, its malls remain open only for essential services. Restaurants operating on its premises are limited to offering takeaways or deliveries.

https://www.businesstimes.com.sg/companies-markets/frasers-property-temporarily-shuts-uk-and-germany-assets-some-staff-taking-unpaid

CROMWELL European Real Estate Investment Trust (Cromwell E-Reit) is proposing to offer tenants the option to pay their rent every month instead of every quarter. It may also allow payments to be deferred by one to three months in special cases, it said in a bourse filing on Wednesday.

This comes after 139 tenants, comprising 9.7 per cent of the Reit’s annual rent roll, requested for rental payments to be deferred for one or two months.

The group comprises mostly small- and medium-sized enterprises such as cafes, childcare centres, and gyms, as well as the Reit’s four-star hotel in Saronno near Milan, which is temporarily closed.

https://www.businesstimes.com.sg/companies-markets/cromwell-e-reit-proposes-rent-deferrals-monthly-payments-for-tenants-0

THE Tangs are a classic Singapore power couple.

Gordon, a former professional windsurfer and avid sailor, and his wife Celine moved from China in the 1990s, founded trading firm Tang Dynasty and then established a real estate empire.

Their SingHaiyi Group invests in commercial and residential properties in the island state and has expanded to the US and Australia. Neil Bush, brother of former US president George W Bush, is on the board, where Celine serves as group managing director.

https://www.businesstimes.com.sg/companies-markets/us100b-reit-rout-pulverises-family-fortunes-across-asia

THE BOARD of directors and top executives at Starhill Global Reit (SGReit)’s manager will take pay cuts in light of the Covid-19 situation, the savings of which will be passed on to unitholders as part of a 10 per cent reduction in base management fees payable by SGReit for the next three months from April.

The board of directors will take a 20 per cent cut in directors’ fees. The chief executive officer and chief financial officer will each take a pay cut of 10 per cent, while other senior staff will have their salary reduced by 5 per cent.

SGReit will switch from quarterly to semi-annual distribution starting from the quarter ended March 31, 2020. The manager said the move will allow for better capital management and cost-saving, given the need to maintain “financial flexibility until (there is) more visibility on the pandemic”.

https://www.businesstimes.com.sg/companies-markets/savings-from-pay-cuts-at-starhill-reit-to-be-passed-on-to-unitholders

SOME HDB resale transactions continue to bust the million dollar price tag even as Covid-19 rages on, with one sold last month for a record S$1.232 million.

In March 2020, there were five HDB resale flats transacted for at least S$1 million, according to real estate portal SRX Property. Together with nine resales sold for at least S$1 million in January and February, a total of 14 units were transacted in the first three months of this year, double the seven in Q4 2019.

Last month’s S$1.232 million resale is a 5-room unit with a floor area of 107 sq m at The [email protected] on the 40-42 storey with a remaining lease of almost 90 years.

https://www.businesstimes.com.sg/real-estate/million-dollar-hdb-resale-flats-facing-downtrend

SOME top-performing US fund managers see opportunities in one of the sectors hardest hit by the coronavirus pandemic, cautiously increasing stakes in niches of the real estate market like cell phone towers and warehouses, which they see as benefiting from an eventual economic recovery.

While real estate is typically considered a defensive sector, real estate investment trust (Reit) values have been slammed by the lockdown of the US economy to slow the spread of Covid-19.

Many retailers and restaurants are unable to serve customers in person, leaving them unable to pay rent.

https://www.businesstimes.com.sg/real-estate/cell-towers-warehouses-look-like-safe-plays-in-us-real-estate

Daily property news 8 Apr 2020

0

BUSINESSES that apply to defer payments for their secured property loans, as well as property owners doing so for residential mortgages, will not be subject to the total debt servicing ratio (TDSR), the Monetary Authority of Singapore (MAS) said on Tuesday.

Businesses that have taken up mortgage equity withdrawal loans secured on residential or non-residential properties are also not subject to property curbs such as TDSR and loan-to-value (LTV) limits.

The TDSR sets limits on how much property buyers can borrow against their monthly income.

https://www.businesstimes.com.sg/banking-finance/tdsr-waived-for-deferred-mortgage-payments

CHINESE tycoon Tong Jinquan has sold a substantial stake in IReit Global to the real estate investment trust’s key unitholders and strategic partners, Tikehau Capital and City Developments (CDL), for S$64 million.

A Tuesday announcement said that French asset management and investment group Tikehau Capital has raised its stake to 29.2 per cent from 16.64 per cent, while Singapore-based developer CDL increased its stake to 20.87 per cent from 12.52 per cent in the Reit. This takes their aggregate shareholding to over 50 per cent. Following this transaction, Mr Tong’s stake will be reduced to about 6 per cent.

The Business Timesreported on March 27 that Mr Tong offloaded 8.2 million IReit Global units for S$4 million from March 13 to March 23, effectively paring his stake from 34.4 per cent to 32.89 per cent.

https://www.businesstimes.com.sg/companies-markets/chinese-tycoon-tong-jinquan-sells-substantial-stake-in-ireit-global-to-key

FITCH Ratings has lowered its outlook on Lippo Malls Indonesia Retail Trust’s (LMIRT) long-term foreign-currency issuer default rating to negative from stable due to the coronavirus outbreak.

The negative outlook is based on an expectation that the pandemic will impact operating earnings, with average occupancy rate dropping to around 50 per cent in 2020, Fitch Ratings said on Monday.

It also affirmed the mainboard-listed retail real estate investment trust’s long-term senior unsecured rating at BB.

https://www.businesstimes.com.sg/companies-markets/fitch-ratings-cuts-lmirt-outlook-to-negative-due-to-coronavirus-impact-0

MARKET watchers are expecting office rents in Singapore to decline in the coming months, amid the coronavirus pandemic that is showing no signs of abating.

“The office market has peaked, with Grade A central business district (CBD) rents falling by 0.5 per cent to S$10.61 per square foot per month (psf pm) during the first three months of 2020 over the last quarter of 2019,” Cushman & Wakefield said in a press statement on Tuesday.

Likewise, Colliers International on Tuesday also noted that the negative impact of the pandemic on office rents could start rearing its head in the second quarter this year.

https://www.businesstimes.com.sg/real-estate/singapore-office-rents-to-decline-amid-covid-19-pandemic

CHINA’S top developers are prising open their war chests to snap up land this year as local governments sell more prime real estate to boost revenues and smaller, distressed property firms look to offload assets as the coronavirus takes a toll.

Many of the country’s major property companies said at recent earnings conferences that they planned to ramp up spending, thanks to a faster-than-expected sales recovery in the first quarter and more abundant liquidity.

Others said they would maintain purchasing levels on par with last year as they were confident demand for housing will remain intact in the long run.

https://www.businesstimes.com.sg/real-estate/chinas-big-developers-shrug-off-short-term-virus-impact-to-splurge-on-land

The Covid-19 pandemic will hit demand, supply and prices of condos in Phuket as 90% of buyers are foreigners from heavily affected countries: China, Hong Kong and Singapore.

Nattha Kahapana, executive director of property consultant Knight Frank Phuket Co, said discounts are useless at the moment as all activities including sales office are locked down.

“When everything resumes, sales prices will not be decreased by more than 5%,” he said. “Some developers will offer campaigns to attract buyers.”

https://www.bangkokpost.com/property/1894590/foreign-buyers-still-rule-phuket-condos

Britain’s housing market is largely on pause due to the government’s coronavirus lockdown which will make it hard to calculate price changes, but it is too soon to gauge the long-term impact, mortgage lender Halifax said.

https://www.reuters.com/article/us-britain-economy-houseprices/uk-housing-market-on-hold-due-to-coronavirus-crisis-halifax-idUSKBN21P0X0

Daily property news 7 Apr 2020

0

THE high merchant fees charged by food delivery platforms are under scrutiny amid the Covid-19 outbreak, in a reckoning that may be overdue. The big question now is if these apps have fallen short on delivering productivity gains that translate to cost savings.

With the freeze on dining-in up to May 4, on-demand food delivery apps GrabFood, foodpanda and Deliveroo have been elevated to the league of essential services.

It would seem like the opportunity of a lifetime for the disruptors to display operational efficiency. After all, scale is something that these players have fought tooth and nail for in a years-long cash burn war.

https://www.businesstimes.com.sg/garage/with-steep-commissions-have-food-delivery-apps-failed-to-disrupt

THE Reit Association of Singapore (Reitas) has cautioned against putting “significant strain” on landlords’ finances with a new Bill that may give businesses a reprieve from contractual obligations including rent payments, even as it acknowledged the importance of supporting tenants in the crisis.

The association flagged its concerns in a statement on Monday night, ahead of Tuesday’s Parliament sitting where the Covid-19 (Temporary Measures) Bill will be introduced.

Under the Bill, a tenant whose business is affected by the coronavirus outbreak is entitled to suspend rental payments for six months. Also, a landlord cannot terminate the lease or licence due to non-payment of rent, if the reason is Covid-19. This covers rental payments due from Feb 1 onwards, and where the agreement was entered into before March 25.

https://www.businesstimes.com.sg/real-estate/reitas-flags-concerns-over-move-to-relieve-tenants-of-rental-obligations

WHILE valuations for Singapore’s hospitality Reits look attractive after the counters have been driven down in recent weeks, it may be too early for investors to take the plunge just yet.

For one, with countries around the world slamming their borders shut, there is very little visibility as to when travel demand will return.

Meanwhile, with hotels running at low occupancies, it is likely that cuts to distribution per unit (DPU) are imminent, analysts say.

https://www.businesstimes.com.sg/companies-markets/singapore-hotel-reits-not-out-of-the-woods-yet

SUNTEC City said it is waiving the rents for mall tenants for a month, in line with the government’s call to boost support for businesses and protect jobs during the circuit-breaker period.

The waiver of rent from April 1 to April 30, 2020 will be funded entirely by the landlord. It will also extend this rental waiver to tenants providing essential services such as supermarkets, pharmacies, food and beverage outlets and banks.

Suntec City said it will also pass on the full savings of the property tax rebates to all tenants in May 2020. A portion of the savings had been passed on in March, and the balance will be passed on in the form of rental rebates for the period from May 1 to May 31, 2020.

https://www.businesstimes.com.sg/companies-markets/suntec-city-to-waive-rents-for-mall-tenants-for-april-0

MAINBOARD-LISTED developer Oxley Holdings said on Monday that it has sold 73 per cent of its Singapore development portfolio, which comprises 3,923 units in total.

The group is set to recognise S$2.4 billion in secured revenue from its Singapore projects. The sum will be recognised over the next two years.

The bulk of the secured revenue comes from sales at Riverfront Residences, in which Oxley has a 35 per cent stake, and Affinity at Serangoon, in which the group has a 40 per cent stake.

https://www.businesstimes.com.sg/companies-markets/oxley-sells-73-of-singapore-projects-to-recognise-s24b-in-revenue-0

PROPERTY group CapitaLand has reopened all its malls in China that were previously shut due to the country’s coronavirus lockdown.

The group’s four malls in Wuhan – the epicentre of the outbreak – reopened on April 2 after receiving clearance from local authorities.

About 80 per cent of stores in CapitaLand’s malls and business parks in China were in operation as at end-March, the property giant said in a bourse filing on Monday.

https://www.businesstimes.com.sg/companies-markets/capitaland-reopens-all-china-malls-posts-rise-in-residential-sales-0

CITY Developments Limited (CDL), one of Singapore’s largest commercial landlords, on Monday said it is committing more than S$17 million in property tax and rental rebates to help its office and retail tenants tide over the novel coronavirus outbreak.

The amount includes the full quantum of the government’s enhanced property tax rebates, announced last month under the Resilience Budget, to be passed on to CDL’s tenants. These enhanced rebates comprise the 100 per cent property tax rebate for qualifying commercial properties and 30 per cent for businesses in other non-residential properties such as offices and industrial properties.

CDL on Monday said it has disbursed rental rebates “in a targeted manner” to qualifying retail tenants in March.

https://www.businesstimes.com.sg/companies-markets/cdl-retail-tenants-get-full-rental-rebates-in-april-50-in-may

REAL estate agencies are rolling out support packages to their salespeople to tide them over the mandated one-month stoppage due to Covid-19.

The five largest property agencies which account for the lion’s share of the 30,000 agents in Singapore say their help includes commission advances, waiving fees as well as paying for professional courses agents have to attend to stay licensed.

Propnex, Singapore’s largest property agency has rolled out a S$30 million plan to help its 8,500 agents.

https://www.businesstimes.com.sg/real-estate/real-estate-agencies-rolling-out-commission-advance-packages

MAPLETREE Investments, which is owned by Singapore’s state investor Temasek Holdings, has said it has raised some US$1.8 billion in equity for its pan US-European logistics fund.

The syndication of the fund, MUSEL Private Trust, was supported by institutional, corporate and high-net-worth investors.

This is in line with Mapletree’s business model, which includes being “an active capital manager in both the private and public markets”, the company said.

https://www.businesstimes.com.sg/real-estate/mapletree-syndicates-us18b-pan-us-european-logistics-fund-0

SINGAPORE firms have registered their worst payment performance since the third quarter of 2016, and the downtrend is expected to continue as firms are exposed to a higher risk of payment delinquency in the months to come, the Singapore Commercial Credit Bureau (SCCB) said in a report on Monday.

“The marked deterioration in payment performance is a clear sign that firms are struggling to meet their debt obligations with creditors,” said Audrey Chia, chief executive officer of D&B Singapore, which SCCB operates under.

Prompt payments plunged 8.5 percentage points year-on-year (y-o-y) to 43.20 per cent from 51.70 per cent while on a quarterly basis, it had fallen 3.03 percentage points from 46.23 per cent.

https://www.businesstimes.com.sg/real-estate/singapore-building-firms-struggle-as-overall-slow-payments-in-q1-hit-high-since-2016

Popular closes all 16 bookstores in Hong Kong after 40 years

0

Popular Bookstore announced on March 18, 2020, the closure of all its 16 bookstores after 40 years of operation in HK.

This is the first mass-retail chain closure in 2020, after mid- to high-end fashion retailer J Crew and Aland closed all their stores in HK in Feb-20 and Mar-20 respectively.

Stocks that are impacted by the above include Link REIT and SHKP (3 bookstores; 1 fashion store each), Sino (3 bookstores), Wharf REIC (2 fashion stores), Kerry (1 bookstore and 1 fashion store) and Fortune REIT (1 bookstore).

Among malls, Link REIT’s TOP and Kerry’s Megabox have closures of both bookstores and fashion stores.

Analysts remain cautious on both luxury and mass retail landlords.

Mass retail malls operators (such as Link REIT, Fortune REIT) will also likely see vacancy pressure, despite resilient retail sales performance.

This is because chain retailers’ cash flow will be stretched for their stores in mid- to high-end malls/streets, in a prolong retail downcycle since 3Q19.

Singapore hotel industry decimated by Covid-19

0

Singapore hotel occupancy was 51% in February, bringing RevPAR declines for the month to 41%.

Performance is likely to deteriorate further as occupancies have since fallen to 20%.

Worst even months expected in Mar/Apr.

On track for worst-ever monthly performance: Singapore hotel RevPAR dropped 41% on average, according to data released by the Singapore Tourism board for the month of February.

This was a result of average hotel occupancy shrinking 37ppt to 51% (ARR: +2% YoY). These numbers are about to worsen come March, which is shaping up to be the worst month in history for the industry.

Deputy Prime Minister Heng announced on March 26 that Singapore hotel occupancy has since reached 20% – materially below the trough occupancy of 34% last seen during the SARS period (May-03).

Assuming room rates stay unchanged in Mar-20, we estimate an unprecedented RevPAR decline of 76% for the month.

Murky outlook for Singapore hospitality in wake of Covid-19: Operational headwinds expected for the Singapore hotel industry, in light of the Covid-19 pandemic, which has more recently brought about border closures in Singapore (announced March 22).

Hospitality is the worst-hit asset class from the pandemic in the March 26 relief measures announced during Singapore’s Supplementary Budget 2020.

Decline in Singapore hotel occupancy, average room rates and revpar 1993 to 2020 due to Covid-19
Morgan Stanley: Occupancy and average room rate hitting new lows

Daily property news 2 Apr 2020

0

A SPECIAL committee of directors has been set up with a focus on “safeguarding value for and protecting the interests of” Eagle Hospitality Trust’s (EHT) stapled security holders.

The five-member committee comprises all of EHT’s independent directors and the managers’ chief executive officer. They are Carl Gabriel Florian Stubbe (who will chair the special committee), Davy Lau, Tarun Kataria, Kelvin Tan Wee Peng and Salvatore Takoushian.

They will oversee matters relating to the strategic review and the voluntary trading suspension announced last week, EHT’s managers said on Wednesday.

https://www.businesstimes.com.sg/companies-markets/eht-sets-up-special-committee-to-negotiate-with-lenders-oversee-strategic-review

THE Covid-19 outbreak and economic slowdown have started to bite; the Urban Redevelopment Authority’s flash estimates for the first quarter shows its benchmark overall private home price index shrank 1.2 per cent over the previous quarter.

The drop followed three consecutive quarter-on-quarter gains. Year on year, the index is up 2.2 per cent.

Analysts expect private home prices to continue heading south, to the tune of up to 8 per cent for the whole year. However, they are not predicting a steep fall like the 24.9 per cent slide over four quarters during the Global Financial Crisis.

https://www.businesstimes.com.sg/real-estate/analysts-predict-up-to-8-full-year-drop-in-private-home-prices

THE recent selldown in Singapore real estate investment trusts (S-Reits) has been toughest on hospitality Reits but has left the data centre, industrial and healthcare-related Reits relatively unscathed.

Analysts see some bargains emerging but add that risks remain high and valuations are still above historical lows.

For the first quarter of this year, the FTSE ST Reit index has returned -24 per cent. Keppel DC Reit is the only S-Reit to have generated positive returns. Its outperformance parallels what is happening in the US, where data centre Reits are also trading at a premium to their peers.

https://www.businesstimes.com.sg/companies-markets/data-centre-industrial-healthcare-reits-most-resilient-in-recent-sell-off

SPH Reit on Wednesday announced that it would distribute just 0.30 Singapore cent per unit for its second quarter ended Feb 29, 2020.

This represents a 78.7 per cent year-on-year decline in its distribution per unit, from 1.41 cents a year ago.

The decline comes in spite of a 23.3 per cent increase in net property income (NPI), to S$56.5 million from S$45.9 million in the same period last year.

https://www.businesstimes.com.sg/companies-markets/sph-reit-keeps-dpu-modest-in-preparation-for-tough-months-ahead

SINGAPORE Press Holdings (SPH) is allowing students living in its purpose-built student accommodation (PBSA) properties in the United Kingdom to leave their tenancies early for the academic year 2019/20 (AY19/20), the group said in a statement on Wednesday.

This comes as SPH, which publishes The Business Times, said it “recognises the impact Covid-19 situation has on students’ study plans and their finances”.

The UK had ordered a three-week lockdown last week to tackle the spread of Covid-19. The move led to all universities moving to online teaching for the remainder of AY19/20.

https://www.businesstimes.com.sg/companies-markets/sph-lets-boarders-in-uk-dorms-shorten-tenancy-sees-revenue-hit-of-%C2%A34-8m

MAINBOARD-LISTED housing operator Centurion Corp will be holding off redevelopment plans for its workers’ dormitory at Toh Guan after the site was declared a new Covid-19 cluster on Tuesday.

The reconstruction of an existing block at its Westlite Toh Guan facility into an eight-storey dormitory and industrial training centre was slated for April 2020.

But the chief executive of Centurion Kong Chee Min told The Business Times on Wednesday that the company will “delay implementation of the asset enhancement initiative (AEI) until the Covid-19 situation in Singapore normalises”.

https://www.businesstimes.com.sg/companies-markets/centurion-delays-toh-guan-dormitory-redevelopment-in-light-of-new-covid-19-cluster

PROPERTY group OUE has joined a string of landlords in Singapore offering rental reliefs to tenants amid poor business brought on by the novel coronavirus outbreak.

OUE and the manager of OUE Commercial Real Estate Investment Trust (OUE C-Reit) on Wednesday said retail tenants of Downtown Gallery, Mandarin Gallery, OUE Bayfront, OUE Link and OUE Tower will receive a rent reduction of between 15 per cent and 25 per cent, which will be reviewed monthly.

The mainboard-listed company said it will also pass on all property tax rebates from the government to tenants in full.

https://www.businesstimes.com.sg/companies-markets/oue-oue-c-reit-offer-relief-rebates-to-tenants

LAKESIDE shopping centre, located just outside of London, is a mecca of consumerism. It’s situated in the county of Essex, which loves shopping so much that a reality TV show captures the exploits of its glamorous, bauble-buying residents.

But since last week, the mall has been open for only essential purchases, in line with government guidance.

Its owner Intu Properties said last Thursday that it had collected just 29 per cent of the rent due from its tenants there and around the country. At the same time last year, it had received 77 per cent of the amount due.

https://www.businesstimes.com.sg/real-estate/how-shopping-malls-can-survive-covid-19

HOUSING and Development Board (HDB) resale prices were flat in the first three months of 2020 amid the Covid-19 outbreak, compared with the last quarter of 2019.

The resale price index was 131.5, the same level as in the last quarter of 2019, according to the latest HDB flash estimates released on Wednesday.

The prices were flat after two consecutive quarters of increase in 2019. The final figures, with more detailed public housing data, will be released on April 24.

https://www.businesstimes.com.sg/real-estate/hdb-resale-prices-flat-in-q1-amid-covid-19-outbreak

CLOSING day arrived for two Manhattan condos that brokers Jacky Teplitzky and Barak Dunayer had listed for sale – and that, in the age of the coronavirus, was a problem.

The process, usually an easy glide toward the finish line, is fraught with human interaction as agents, buyers and lawyers all walk through the unit for one final look before the paperwork gets signed.

So in an instant, the veteran brokers at Douglas Elliman Real Estate became amateur movie directors, with Mr Dunayer going alone into each apartment, summoning a group Zoom call and starting his show for a live audience.

https://www.businesstimes.com.sg/real-estate/for-us-real-estate-brokers-the-show-must-go-on-virtually

AUSTRALIAN home prices extended gains in March, although conditions are expected to cool as the coronavirus pandemic causes widespread economic disruption and hits household confidence.

Figures from consultancy CoreLogic on Wednesday showed home prices across Australia’s capital cities climbed 0.7 per cent in March, the lowest monthly rise since the property market turned around in July last year. Home values are up 8.9 per cent from a year ago.

Sydney clocked a monthly gain of 1.1 per cent, taking its annual rise to 13 per cent, while Melbourne was up 0.4 per cent for the month and 12 per cent higher on a year-on-year basis.

https://www.businesstimes.com.sg/real-estate/australian-home-prices-up-in-march-but-market-seen-cooling-due-to-virus

Peak Residence By Tuan Sing and Rich Capital At Thomson Road Near Novena MRT

0

Peak Residence is an upcoming freehold residential development situated at Thomson Road. It is the former Peak Court, and was sold through collective sale for S$118.88 million to Rich Capital Holdings and Tuan Sing Holdings.

Its central location provides ease of travel along a quiet and exclusive area, making it an attractive purchase for both young families and working professionals.

The Thomson/Novena area is a premium residential district. New launches within the area are highly sought after, and it’s predicted that Peak Residence will enjoy similar (or higher) levels of interest from both home stayers and investors.

Peak Residence is within 1km to 3 very popular primary schools – Anglo Chinese School Primary, CHIJ Primary and St Joseph’s Primary School.

The Lively Thomson Area Area Is Home To Many Popular Bars, Restaurants And Cafes

Located just a few minutes from Novena MRT Station, and also close to th upcoming Mount Pleasant and Toa Payoh MRT Stations, Peak Residence offers the ultimate ease of travel to other parts of Singapore.

Novena MRT Station Is Just A Few Minutes Away

PIE and CTE are the connecting expressways that make travel by car and public transport a breeze.

Many renowned schools near Peak Residence provide quality education across all levels. Some of them include Balestier Hill Secondary School, St Joseph’s Institution International, CHIJ Primary School, Anglo Chinese School, San Yu Adventist School, and St Joseph’s Institution Junior.

CHIJ Is A Popular Option For Parents With Primary School Children

Residents can also take advantage of the excellent interconnected transport system to gain fast and easy access to shopping centres, restaurants, parks, bars and other amenities.

Nearby shopping malls like Zhongshan Mall, United Square, Novena Square and Balestier Hill Shopping Centre provide essentials like food outlets, supermarkets and the occasional retail indulgence.

Starker Bistro – One Of The Many Quality Eateries At Zhongshan Mall

The Orchard Shopping Belt is just a few MRT stops away, providing an unlimited amount of shopping and entertainment options.

Another one of Peak Residence’s significant advantage is the close proximity to world-class health care facilities. A number of health care institutions are situated close by, ensuring that residents can receive top quality treatment should the need arise.

Thomson Medical Centre, Tan Tock Seng Hospital, Novena Medical Centre, Healthway Medical Centre and Mount Alvernia Hospital are the major health care options around Peak Residence.

TTSH Is One Of Singapore’s Leading Hospitals

Investors are closely monitoring developments at Peak Residence too. This is mainly due to its suitability as a rental option, and potential for capital appreciation.

As a centrally-located development, Peak Residence should prove popular among working professional tenants. The Thomson area is also quieter compared to other central regions, making it an even more attractive proposition for those looking for a private and serene lifestyle.

Peak Residence project summary

Developer Tuan Sing Holdings & Rich Capital
District 11
Launch date2nd quarter of 2020
TOP DateTo be announced
Total number of units90
TenureFreehold
Address333 Thomson Road 307675
FacilitiesSwimming Pool, BBQ Pits and Gym

Peak Residence location

Novena MRT is a a mere 11 minutes walk by foot

Peak Residence is located just a few minutes away from Novena MRT Station. Mount Pleasant and Toa Payoh stations are nearby as well, allowing residents to connect to other parts of Singapore through the various train lines.

For drivers, PIE and CTE are the expressways that link Peak Residence to key areas like Orchard Road and CBD.

Peak Residence Floorplans and Pricing

Sign up below to be the first to be notified of the floorplans and pricing!

Peak Residence nearby amenities

The nearby Zhongshan Mall

Reputable schools around Peak Residence provide quality education options for parents and students. Some of them include Balestier Hill Secondary School, St Joseph’s Institution International, CHIJ Primary School, Anglo Chinese School, San Yu Adventist School, and St Joseph’s Institution Junior College.

Nearby shopping malls like Zhongshan Mall, United Square, Novena Square and Balestier Hill Shopping Centre provide essentials like food outlets, supermarkets and the occasional retail indulgence.

Residents can also hop on a short train ride to the Orchard area. Definitely plenty of shopping, entertainment and culinary options all around!

With many placing greater emphasis on quality health care, Peak Residence is well-positioned to offer fast and easy access to world-class health facilities.

Thomson Medical Centre, Tan Tock Seng Hospital, Novena Medical Centre, Healthway Medical Centre and Mount Alvernia Hospital are the major health care options around Peak Residence.

Comparative Market Analysis

District 11 is one of the most stable areas in Singapore in terms of capital gain. With a centralized location, plenty of amenities on offer and known as an exclusive premium estate, property prices have steadily increased over the years.

Even though recent years have not seen a sharp spike in capital gain numbers, its stability is highly valued by investors who want safe and secure housing options.

This could change positively in the near future. According to URA’s masterplan, District 11 will soon be the proud home of a sprawling integrated health care facility that covers 600,000 square meters.

Coupled with improvements in transport options and commercial developments, Peak Residence can be one of the properties that see a major boost in capital gain figures a few years down the road.

The truth is that District 11 properties are not cheap. However, they’re worth every penny.

As the saying goes: price is what you pay, value is what you get.

Living in a luxurious central neighborhood has its advantages. Close proximity to town, amenities aplenty, quality lifestyle, just to name a few.

Peak Residence can potentially offer even greater value than other District 11 properties. This is mainly due to timing.

Peak Residence is projected to TOP within the next 3-5 years. This timeline coincides with the estimated conclusion of District 11’s development (as explained in the previous section).

Which means that the price buyers pay today, is very likely to be a drop in the ocean compared to Peak Residence’s future value.

Peak Residence Rental Overview

District 11 properties are a favorite among investors, no matter if they’re looking to profit from capital gain or rental yield.

While capital gain figures have been stable and steady, rental yield has been performing better than most areas of Singapore.

The key to District 11’s attraction as a rental option is due to its central location. More importantly, it offers a more peaceful and quiet environment compared to other central areas.

As we all know, tenants value privacy. That’s why District 11 is such a popular rental option.

Peak Residence is likely to continue District 11’s proud tradition as a rental favorite, making it a very good purchase for investment purposes.

Contact us today for Peak Residence floorplans and pricing!

My budget is (required, select one)
Up to S$750,000Up to S$1mUp to S$1.25mUp to S$1.5mUp to S$1.75mUp to S$2mUp to S$2.5mUp to S$3mUp to S$4mAbove S$4m

I am buying for (required, select all that apply)
Own stayInvestmentOthers

Singapore REITs crashing – time to buy?

0

A lot of ink and blood has been shed by analysts, commentators and talking heads etc. about the crash in the stock market.

Singapore REITs have also taken the brunt of the hit, with prices of many REITs falling significantly over the last couple of weeks.

Is now a good time to buy?

Let’s take a look at the price charts of all the REITs to see which one has taken a beating and might be worth investing in.

Mapletree REITs have had some correction but not a drastic as many other REITs.

Keppel DC REIT has also taken a beating, but the decline isn’t as drastic as others.

Many small-cap REITs have taken a significant beating.

Hospitality REITs have suffered a fair bit.

Retail REITs have been beaten down a lot. Capitaland Mall Trust is down, but not as much as other retail REITs.

Newcomers to the market Elite Commercial REIT, Prime US REIT and Lend Lease REIT have declined quite a bit. However, Lend Lease REIT has started to climb on some people starting to buy.

Sign up with us to stay updated with great new content!

Midtown Modern (Tan Quee Lan Street New Condo By Guocoland and Hong Leong) next to Bugis MRT

0

Midtown Modern is an upcoming new condo at Tan Quee Lan Street, located on top of Bugis MRT. It is slated as mixed use development located at a hip, urban and trendy area in Bugis. It was won on 5 September 2019 as a joint venture between Guocoland and Hong Leong Holdings with a bid of S$800.19 million. This translates to $1,535 psf per plot ratio (psf ppr). 

Besides the many shopping and entertainment options available, the new condo at Tan Quee Lan Street will be the crown jewel in the future Beach Road/Ophir/Rochor Corridor – A new business hub as indicated in URA’s 2019 masterplan.

The area around Midtown Modern at Tan Quee Lan Street is currently being transformed from a history-rich and predominantly commercial precinct, into a vibrant lifestyle-centric haven.

Residents Can Enjoy The Many Culinary Delights Around The Area

Investors and homestayers are sitting up and taking notice. With high rentability, potential for capital appreciation and seen as a great place to start/raise a family, Midtown Modern at Tan Quee Lan Street is likely to be one of Singapore’s most hotly contested new launches.

Convenience is a key reason why Midtown Modern at Tan Quee Lan Street is attractive to potential buyers. MRT stations such as City Hall, Bugis, Rochor and Esplanade are within the vicinity, allowing residents to travel around the island from a centralized location.

Can you imagine living above Bugis MRT Station?

It is also near to Nicoll Highway, and easily connects to AYE, CTE, ECP and KPE.

For parents, there are nearby schools of all levels to choose from. They include Rosemary Hall Montessori Kindergarden, Stamford Primary School, St. Margaret’s Primary School, Singapore Management University (SMU), Nanyang Academy Of Fine Arts and Laselle College Of The Arts.

SMU, One Of Singapore’s “Big 3” Universities, Is Within Walking Distance

In terms of amenities, not many other areas can boast the variety of shopping, dining and entertainment options around.

Nearby shopping malls like Suntec City, Shaw Leisure Gallary, Bugis Junction, Marina Square and Bugis Plus are some of Singapore’s most popular hang-out spots.

Shop Till You Drop At Bugis Junction, One Of The Many Popular Malls In The Area

Retail-therapy, cinemas and restaurants are plentiful and easily accessible. Residents will be spoilt for choice!

For more affordable eating options, Midtown Modern at Tan Quee Lan Street is near to hawker havens Gluttons Bay, Albert Centre, Tekka Market and Golden Mile food centre.

The Hawker Delights At Albert Centre Are Certainly Queuing For!

Due to the reasons listed above, some experts believe that District 7 (Bugis area) can become Singapore’s most prime residential area in the near future.

Prices are increasing rapidly, with even more room for growth once ongoing developments are complete.

This gives investors a limited window of opportunity to capitalize on the area’s rejuvenation. Midtown Modern at Tan Quee Lan Street could be the perfect opportunity to snag a property with high potential capital appreciation.

Midtown Modern project summary

DeveloperGuocoland
District 7
TOP DateEstimated 2024
Total number of units585
Tenure99 year leasehold
AddressTan Quee Lan Street
Facilities50m swimming pool, BBQ pits, gym and retail outlets on first floor

Midtown Modern Location

Midtown Modern on Tan Quee Lan Street is located adjacent to Bugis MRT and has a centralized location close to many bus stops and MRT stations. Other MRT stations and lines such as City Hall, Rochor and Esplanade stations are close by, allowing residents to conveniently access other parts of Singapore through the various MRT lines.

For drivers, Midtown Modern on Tan Quee Lan Street is near to Nicoll Highway, and easily connects to AYE, CTE, ECP and KPE.

Midtown Modern unit mix

It is estimated that Midtown Modern at Tan Quee Lan Street will have a total of 585 units, from 1 to 3 bedrooms. Sign up below to receive exclusive invites, floorplans and pricing once they are released!

Midtown Modern nearby amenities

Midtown Modern at Tan Quee Lan Street is close to many schools of all levels. They include Rosemary Hall Montessori Kindergarden, Stamford Primary School, St. Margaret’s Primary School, Singapore Management University (SMU), Nanyang Academy Of Fine Arts and Laselle College Of The Arts.

As one of the leading lifestyle-centric areas in Singapore, residents will have plenty of shopping, entertainment and dining options to choose from.

Popular nearby shopping malls like Suntec City, Shaw Leisure Gallary, Bugis Junction, Marina Square and Bugis Plus offer a healthy dose of retail therapy and exemplary dining choices.

For residents who prefer hawker fare, the new condo at Tan Quee Lan Street is near to hawker havens Gluttons Bay, Albert Centre, Tekka Market and Golden Mile food centre.

Midtown Modern floorplans

To be announced. Sign up below to receive exclusive invites, floorplans and pricing once they are released!

Midtown Modern comparative market analysis

There may not be a whole lot of residential properties in District 7. However, this scarcity trend is actually working in their favor.

Due to an increasing demand for centralized properties which offer convenience and a quality lifestyle, sales volume for District 7 properties have shot up in recent years.

With not a whole lot of choices, the current properties in the area are enjoying intense attention from buyers.

When Midtown Modern at Tan Quee Lan Street is added to the mix, it has the potential to surpass other District 7 properties in terms of sales transactions.

This is because of its mixed use development status which offers even greater convenience, and a slightly better location that its counterparts.

Which means that interested buyers should act fast and secure their preferred units before the likely buying frenzy.

Midtown Modern rental volume comparison

As mentioned above, District 7 properties are high in-demand now due to its close-to-town location and promise of an idyllic lifestyle.

This has led to a surge in rental transactions, especially from working professionals looking for homes close to CBD, with a host of amenities nearby.

Midtown Modern at Tan Quee Lan Street is likely to enhance this trend, especially when the Beach Road/Ophir/Rochor corridor (part of the URA’s masterplan) is developed.

This will create even more jobs in the area, naturally leading to more rental demand.

Midtown Modern rental comparison (per square feet)

Experts have predicted that District 7 will soon become Singapore’s leading residential area. This is reflected in the rental income enjoyed by current landlords.

While a few other areas still command higher rental fees, District 7 is fast catching up and could soon overtake its “competitors”.

The good news is that the developments in District 7 are far from complete. As the area progresses year after year, landlords can command higher rental fees and still have no lack of potential tenants.

This is why tMidtown Modern at Tan Quee Lan Street can be a sensible investment for long-term rental income.

Sign up below for Midtown Modern info and updates!

My budget is (required, select one)
Up to S$750,000Up to S$1mUp to S$1.25mUp to S$1.5mUp to S$1.75mUp to S$2mUp to S$2.5mUp to S$3mUp to S$4mAbove S$4m

I am buying for (required, select all that apply)
Own stayInvestmentOthers

Daily property news 6 Mar 2020

0

SINGAPORE (Mar 3): As investors grapple with the possibility that the Covid-19 outbreak may be more prolonged than initially expected, this may just be the right time to cash in on Singapore REITs (S-REITs). Although highly sought after for their yields and stability, S-REITs have not been immune to the increasing macroeconomic uncertainty. The sector has been a victim of a broad-based sell-off of up to 4-5% in a day as a result of funds outflow. To be sure, the 10-year US treasury yield now stands at a multi-year low of some 1.3%, with the Singapore 10-year bonds tailing it at some 1.5%. Market watchers believe that these are in tandem with heightened worries of an economic fall-out. This has resulted in the prices of S-REITs being dragged down 6.5% from the previous week, and 5.6% year-to-date. While the fall is enough to send some investors scurrying back to “safer” assets such as gold, DBS Group Research is quick to advise otherwise.

https://www.theedgesingapore.com/capital/investing-ideas/are-low-prices-opportunity-investors-cash-s-reits-rebound

SINGAPORE’S largest mall operator CapitaLand has laid down more specifics to its rental rebates for tenants amid pressure from various fronts, including a group of retailers that has banded together to seek more help from landlords. CapitaLand will be giving rental rebates to some 1,000 of its tenants as a start, while it reviews the rest of its 3,500 leases, a move industry associations urged other landlords to follow. After reviewing February sales and footfall data, CapitaLand on Wednesday issued letters to tenants at both its urban and suburban malls about their relief packages. Some were informed of a 25 per cent rebate each in April and May, on the fixed components of their one-month gross rent. This is in addition to the release of tenants’ one-month security deposit to offset their rent for March.

https://www.businesstimes.com.sg/companies-markets/1000-capitaland-tenants-get-rental-rebates

RETAIL Reit prices have been blown cold by rental relief measures, and then hot again by the US Federal Reserve’s surprise rate cut. Analysts believe that current Reit prices have already either fully or partially priced in the impact of temporary rent-relief measures and will take reference from the Fed’s rate movements from this point on. A compilation by The Business Times shows that on average, the six Reits with exposure to Singapore malls have risen 4.3 per cent since the announcement of the federal funds rate cut. However, they are still 4.5 per cent below pre-Covid-19 levels.

https://www.businesstimes.com.sg/companies-markets/retail-reits-have-priced-in-covid-19-impact-say-analysts

HONGKONG Land Holdings posted a record underlying net profit of US$1.08 billion for the 12 months ended Dec 31, 2019, up 4 per cent from US$1.04 billion in 2018. Its net profit – which is typically volatile – slumped 92 per cent to US$198 million from US$2.5 billion previously, owing to losses from revaluation of the group’s investment properties compared to gains a year earlier. The group said profits from the investment properties businesses remained stable despite the social unrest in Hong Kong, while a higher contribution from the development properties business in mainland China was partially offset by lower contributions from other markets

https://www.businesstimes.com.sg/companies-markets/hongkong-land-net-profit-dives-on-revaluation-losses

THE Housing and Development Board’s (HDB) resale market remained robust in February despite experiencing a seasonal dip from January. Fewer flats changed hands in February than in January, as prices inched up by 0.7 per cent. In all, 1,668 HDB resale flats were sold last month, 13.1 per cent fewer than in January, flash estimates from real estate portal SRX showed on Thursday. The figure reversed the 3.3 per cent increase in January from the preceding month. It was, however, 26.9 per cent more than the 1,314 units sold in February last year

https://www.businesstimes.com.sg/real-estate/hdb-resale-market-resilient-in-february

ARA Asset Management has taken a majority stake in logistics property firm, Logos Group. Existing shareholders include real estate investment firm, Ivanhoé Cambridge and Logos’ founders, John Marsh and Trent Iliffe. With ARA’s buy-in, Macquarie Group’s MIRA Real Estate has exited as a Logos shareholder. According to a joint statement by the companies on Thursday, Logos will operate as ARA’s exclusive platform for logistics assets globally, offering ARA’s investors a suite of products in the private and public markets.

https://www.businesstimes.com.sg/real-estate/ara-completes-acquisition-of-majority-stake-in-logos

SINGAPORE-BASED flexible workspace operator Arcc Spaces will open its flagship project at One Marina Boulevard next month. This is the company’s fourth project in Singapore, adding to its regional footprint that now includes Kuala Lumpur, Yangon, Beijing, Shanghai and Hong Kong. The One Marina Boulevard project will take up 19,000 square feet of space on the 20th floor, and offer private office rooms, meeting rooms and a convertible multi-functional event space.

https://www.businesstimes.com.sg/real-estate/arcc-spaces-to-open-flagship-project-at-one-marina-boulevard

RISING buildings and skyscrapers mark the era of modernisation. However, buildings are responsible for nearly 40 per cent of annual worldwide greenhouse gas emissions. The world cannot reach its ambitious climatic targets if energy use in buildings is not drastically reduced. While Singapore has a relatively high penetration rate of green buildings at 30 per cent compared to other Asian cities, there is room to catch up with European cities like Paris and London, at 64 per cent and 68 per cent respectively. Europe has been the most competitive region globally for green buildings since the beginning due to its strong political leadership role.

https://www.businesstimes.com.sg/real-estate/what-singapore-can-learn-from-europes-green-building-journey

INDIA’S economic slowdown coupled with a credit crisis is creating a surge in demand for capital from beleaguered companies that are providing Blackstone Group with buyout opportunities in Asia’s third-largest economy. “We are not taking a cautious stance of watch and wait,” Amit Dixit, Blackstone’s senior managing director, said in Mumbai on Wednesday. “We are actually taking a forward-leaning stance.” For Blackstone, India is the “strongest performer” in the world, said Stephen Schwarzman, chief executive officer of the world’s largest alternative asset manager.

https://www.businesstimes.com.sg/banking-finance/blackstone-leaning-towards-india-its-strongest-performer

SWITZERLAND’S negative interest rates make owning a home increasingly unaffordable in a country where a single-family property can cost more than 10 times the average annual salary, according to research by Credit Suisse Group. Amid a declining threshold at which banks start to charge savers negative interest on cash balances, investors are looking to the property market for positive returns and low risk from buy-to-let investments, Switzerland’s second-biggest bank said in a property market report on Wednesday. “Private investors seeking secure investments are following the example of more financially powerful investors by buying up residential properties with a view to renting them out,” it said. “Since multi-family dwellings are barely affordable in today’s environment, there is strong demand for condominiums and, in some cases, single-family homes.”

https://www.businesstimes.com.sg/real-estate/swiss-negative-rates-make-homes-unaffordable-report

Despite the muted economy outlook, Singaporeans are more optimistic and satisfied with the property market, according to the latest findings in PropertyGuru’s H1 2020 Consumer Sentiment Study, a half-yearly poll which measures consumer perceptions of the local property market. This is reflected in The Sentiment Index, which rose 5 points from 40 in the previous wave to 45. The Sentiment Index measures factors such as current real estate climate satisfaction, property affordability, current real estate climate, perceived government effort, and property prices in the next 1-5 years.

https://www.propertyguru.com.sg/property-management-news/2020/3/186537/singaporeans-are-optimistic-with-the-current-real-estate-market-propertyguru-study

Joel Su Jiqing, a former property agent, was fined $88,000 on Thursday (5 March) for unlawfully offering short-term accommodation to tourists via online platform Airbnb. Should he fail to pay the fine, he will have to serve 18 weeks behind bars. The fine was the highest meted out for such offence so far, reported CNA. Agent Earned A Total Of $115,112 From Renting Four Short-Term Accommodation To Tourists

https://www.propertyguru.com.sg/property-management-news/2020/3/186524/former-property-agent-fined-88-000-for-unlawfully-offering-short-term-accommodation

Daily property news 4 Mar 2020

0

Cyber-security label for smart home devices

A cyber-security label similar to the energy-efficiency labels on home appliances will be rolled out to help buyers of smart devices better judge how exposed they are to cyber risks. This label will be stuck on Wi-Fi routers and smart home hubs for a start, as part of Singapore’s new Safer Cyberspace Masterplan designed to protect consumers and small firms. The labelling scheme will be extended to more Internet of Things (IoT) or connected devices to help users, who are often unaware of the security risks.

https://www.straitstimes.com/singapore/cyber-security-label-for-smart-home-devices

HK’s property insiders in buying mode

A NOVEL coronavirus outbreak following months of anti-government protests might seem like a toxic cocktail for the world’s least affordable property market. Yet, Hong Kong’s real estate insiders are in buy mode. The plan by the family of Peter Woo to take Wheelock & Co private suggests that those with the most privileged vantage point see a limit to any virus-induced decline in property prices, and consider there is value to be extracted by removing assets from the public markets. It may not be the last such manoeuvre. That might seem surprising. A widely-followed index of residential prices compiled by Centaline Property Agency has dropped only 6.5 per cent from its record high in June last year.

https://www.businesstimes.com.sg/real-estate/hks-property-insiders-in-buying-mode

Top bids for Canberra private housing sites below expectations

THE latest 99-year leasehold residential state land tenders which closed on Tuesday have drawn a mixed bag of results. Top bids for a pair of adjoining private housing sites in Canberra Drive, a stone’s throw from Canberra MRT station in Singapore’s north, came in below forecasts by property consultants polled by The Business Times prior to the closing of the tender at noon, on Tuesday. The number of bids received was also softer than expected. On the other hand, a plot for executive condominium (EC) housing development along Fernvale Lane in the Sengkang area drew a healthier participation rate and with the top bid within expectations.

https://www.businesstimes.com.sg/real-estate/top-bids-for-canberra-private-housing-sites-below-expectations

United Hampshire US Reit launches IPO at US$0.80 per unit

THE “retail apocalypse” won’t affect too much the asset classes that United Hampshire US Reit invests in, according to Robert Schmitt, CEO of the Reit manager. In a meeting with media on Tuesday, he said that for grocery- and necessity-based retail, brick-and-mortar still plays a big part. “They need the stores to push the products,” he said. While sales at department stores such as Nordstrom, Sears and Macy’s are declining, necessity retail such as BJ’s Wholesale Club, Lowe’s Home Improvement and Walmart are still doing well. Grocery- and necessity-based retail also has the added benefits of being recession-resistant and cycle-agnostic, he said.

https://www.businesstimes.com.sg/companies-markets/united-hampshire-us-reit-launches-ipo-at-us080-per-unit-0

Don’t skimp on rent relief, Chan Chun Sing tells landlords

AS consumer businesses reel from the impact of the Covid-19 outbreak, Minister for Trade and Industry Chan Chun Sing called on major landlords to “do their part” for affected tenants. Under the recent Budget relief for tourism-related sectors, commercial properties will get a 15 per cent property tax rebate that Deputy Prime Minister Heng Swee Keat has urged landlords to translate into lower rents. But “it has come to our attention that there is an entire spectrum of responses”, Mr Chan said on Tuesday.

https://www.businesstimes.com.sg/government-economy/singapore-budget-2020/dont-skimp-on-rent-relief-chan-chun-sing-tells-landlords

Former Katong Park Towers By Bukit Sembawang At Arthur Road Near Katong Park MRT

0
Aerial view of Former Katong Park Towers

In 2018, Katong Park Towers was sold to Singapore-listed developers Bukit Sembawang Estates. An exclusive new condo will be built in its place.

Located at a posh area in the east, the new condo at Arthur Road is certainly a launch to look out for in 2020.

Katong is widely known to be a residential haven. Considered the most premium location in eastern Singapore, future residents of the new condo at Arthur Road can look forward to an idyllic and high quality lifestyle.

The new condo at Arthur Road, former site of Katong Park Towers, is only 200m away from Katong Park MRT which will start operations in 2023. Walking distance to an MRT station is definitely a key factor of this new condo’s considerable draw.

PIE, KPE and ECP are the major expressways that will serve future residents of the new condo at Arthur Road.

Many top schools are also within a 2km radius. They include Tanjong Katong Primary School, Kong Hwa School, Chung Cheng High (Main), Dunman High School, Northlight School, Tanjong Katong Girls’ School, Victoria Secondary School and Victoria Junior College.

Amenities-wise, not many new launches can beat the many bars, restaurants, shopping malls and cafes in the area.

Notable attractions like Parkway Parade, Katong I12, Roxy Square and Leisure Park Kallang can be reached within a 5-minute drive.

Katong is also home to many famous eateries such as Katong Laksa, Alibabar Hawker, Sin Heng Bak Kut Teh and the newly-revamped Marine Parade Hawker Centre.

East Coast Park is only a short distance away

Fans of the outdoors can pop by East Coast Park to enjoy the cool sea breeze and greenery. Perfect for an enjoyable day out with the family!

Overall, residents of the new condo at Arthur Road can look forward to many relaxing nights and weekends at one of Singapore’s most desirable chill out areas.

With the development of key areas in the east, such as Paya Lebar and Changi, into commercial hubs, an opportunity to secure long-term tenants is an attractive option for investors.

Currently, due to its close proximity to town and CBD, Katong properties are already popular rental options for tenants. This demand is set to increase with major commercial areas being set up in the east.

Former Katong Park Towers Project Summary

DeveloperBukit Sembawang
Condo nameTo be announced
District15
Tenure99 year leasehold
Total number of unitsTo be announced
Address114A Arthur Road 439826
Nearest MRTKatong Park MRT (200m away)
FacilitiesFull Condo Facilities Including Swimming Pool, BBQ Pits, Gym, Function Rooms Etc
TOP DateTo Be Announced

Former Katong Park Towers Location

Former Katong Park Towers condo is a short walk to the beach and Katong Park MRT

Located just 200m away from Katong Park MRT, which will start operations in 2023, the new condo at Arthur Road is strategically-placed to offer residents extreme ease of travel.

Further enhancing its convenience factor are nearby expressways like PIE, KPE and ECP. Drivers can reach key locations like town and CBD in just 10-15 minutes.

Former Katong Park Towers floorplans

To be announced

Nearby amenities

TKGS is a short drive to Katong Park Towers condo

Schools near to the new condo at Arthur Road include Tanjong Katong Primary School, Kong Hwa School, Chung Cheng High (Main), Dunman High School, Northlight School, Tanjong Katong Girls’ School, Victoria Secondary School and Victoria Junior College.

VJC, one of Singapore’s top premier junior colleges is conveniently located nearby

Future residents will be spoilt for choice in terms of entertainment, food and shopping options. Notable attractions like Parkway Parade, Katong I12, Roxy Square and Leisure Park Kallang have plenty of food courts, restaurants, cafes and supermarkets to satisfy every resident.

Famous eateries such as Katong Laksa, Alibabar Hawker, Sin Heng Bak Kut Teh and the newly-revamped Marine Parade Hawker Centre are also close by.

For a change in environment, head down to East Coast Park for a fun day out with the family.

The new condo at Arthur Road truly offers something for everyone!

Comparative Market Analysis

A large portion of the projects in D15 are transacting in the 19xx to 27xx psf range

Outside of the city area, not many locations can beat the pricing of a condo in District 15. This is because of the quality lifestyle it can offer to residents.

Not to mention its close distance to town and CBD. Although technically considered part of Eastern Singapore, District 15 can also be viewed as a city fringe area. Both public and private transport can take you to the city in just minutes.

All these factors contribute to the consistently high prices of District 15 condos. With several enhancements like new MRT stations, commercial hubs and entertainment outlets being developed, prices are set to rise even further within the next few years.

This means that residents of the new condo at Arthur Road can capitalize on this pricing trend by securing a unit as soon as it’s launched.

Prices may be higher, but the value it can provide is exponential as well.

Capital Gains Overview

Wouldn’t you like an average of 20% growth for your property value as well?

As the table above illustrates, capital gain figures for District 15 properties have been astronomical.

District 15 today is already considered a desirable place to live in. With further developments (mentioned above) of the area in store, property values have soared.

Based on conservative estimates, this growth is set to peak within the next 3-5 years. Which means that the new condo at Arthur Road presents a unique opportunity for early buyers to make a tidy profit when the project reaches its Temporary Occupation Permit (TOP) in a few years’ time.

Rental overview

For the many tenants looking for a more chill-out lifestyle, yet still remain close to the city, District 15 is often their preferred choice. The Katong area is currently connected via buses to town, and once the Thomson East-Coast line is up, residents in the area will only be a mere 20 minute MRT ride to Marina Bay and Orchard.

This is shown by rental yield figures of other properties in the area. Landlords are consistently enjoying a steady supply of tenants.

This rental demand for District 15 properties is likely to increase, following the development of east side commercial hubs in Paya Lebar and Changi.

For owners of a unit at the new condo at Arthur Road, purchasing for investment purposes is a potential avenue for long-term rental income.

Sign up for more details today and be the first to receive the pricing and floorplans info!

My budget is (required, select one)
Up to S$750,000Up to S$1mUp to S$1.25mUp to S$1.5mUp to S$1.75mUp to S$2mUp to S$2.5mUp to S$3mUp to S$4mAbove S$4m

I am buying for (required, select all that apply)
Own stayInvestmentOthers

One North Gateway New Launch By TID Residential Near Buona Vista MRT

0
ACJC, one of Singapore’s Top JCs

Residents at One North Gateway condo can also indulge in a variety of retail therapy/hang out options not commonly found in other parts of Singapore.

Nearby supermarkets at The Star Vista, Holland Village One North and Buona Vista CC tend to carry more exotic choices, given the large expat community in the area. Of course, there are local favorites too if you prefer to stick with what’s familiar!

Tasting bar at Cold Storage Fusionpolis

Megamalls like Westgate, JCUBE and JEM are within the vicinity as well. Over at the quaint Rochester Park, there are many hip cafes and bars that are perfect for chilling and relaxing on a Friday evening.

One of the many chill out bars at Rochester Park

With so many lifestyle-oriented advantages, One North Gateway condo is poised to raise the bar in terms of quality living!

Investment-wise, One North Gateway offers high potential capital appreciation, plus a large tenant pool for rental income.

As mentioned above, there is currently a “rental gap” in the area that has not been fulfilled. One North Gateway can fill that gap by offering top notch homes to working professionals in the area.

When the developments in the west of Singapore are complete over the next few years, One North Gateway can ride on this profitable trend to increase exponentially in value.

One North Gateway condo summary

DeveloperJoint-Venture led by TID Residential, a joint venture between Hong Leong Holdings and Mitsui Fudosan Co
Condo nameOne North Gateway Residences (To be confirmed)
District5
TOP DateEstimated 2024 – 2025
Total units99 year leasehold
Address7 One North Gateway 138642
FacilitiesMixed use development comprising of residential apartments, serviced apartments, retail outlets, offices and community spaces
Unit types 1 – 4 bedrooms
Nearest MRTBouna Vista MRT

Location

Bouna Vista MRT
One North MRT station

One North Gateway is located close to One North MRT and Buona Vista MRT. Major expressways PIE, BKE and AYE are close by as well.

It is also a short drive away from landmark locations like Holland Village and Orchard Road

One North Gateway condo pricing

To be announced; sign up below to be the first to find out!

One North Gateway floorplans

To be announced; sign up below to be the first to find out!

Nearby amenities

Schooling options are plentiful around One North Gateway condo. Some reputable schools in the area include Fairfield Methodist Primary School, Fairfield Methodist Secondary School, Henry Park Primary School, New Town Primary School, Anglo Chinese Junior College and United World College.

One North Gateway offers a unique selection of shopping options not commonly found in other parts of Singapore.

Nearby supermarkets at The Star Vista, Holland Village One North and Buona Vista CC tend to carry more exotic choices, given the large expat community in the area.

Megamalls like Westgate, JCUBE and JEM are within the vicinity as well. Over at the quaint Rochester Park, there are many hip cafes and bars that are perfect for chilling and relaxing.

Comparative Market Analysis

Capital gains

One North Gateway is located in District 5, an area which has been crying out for new condo launches. Especially since the last condo launched in the area was more than 10 years ago.

Despite the lack of new launches, District 5 has established itself as a major commercial, business and lifestyle hub within a relatively short time.

Due to the lack of relevant data, properties in nearby District 10, just a stone’s throw away, is used in this case to analyze One North Gateway’s capital gain potential.

District 10 properties have benefited greatly from the developments in the area, and have climbed steadily in value despite negative market factors.

One North Gateway can potentially see an even better upturn in capital gain. Due to its mixed development structure and location within the heart of a thriving commercial hub, One North Gateway promises to offer investors a healthy profit in the years to come.

Rental volume

As One North Residences is at the edge of Holland Village, projects at the fringe of Holland Road will be used to gauge One North Gateway’s rental capabilities.

One North Gateway is predicted to out-do them in terms of rental demand, thanks to its strategic location right in the middle of the thriving One North area.

The vast number of working professionals plying their trades at the One North area are likely to jump at the chance to secure a home close to their offices.

Rental yield

Rental demand is intrinsically linked to rental yield figures. In most cases, high demand usually leads to high yield.

It’s simple mathematics. One North Gateway is likely to have a high demand from tenants working in the area.

This will increase rental yield; giving unit owners a lucrative opportunity to cash in and make passive rental income.  

Whatsapp us here to get more info on One North Gateway upcoming new launch, a highly-anticipated new mixed use development!

Contact us today for floorplans and pricing!

My budget is (required, select one)
Up to S$750,000Up to S$1mUp to S$1.25mUp to S$1.5mUp to S$1.75mUp to S$2mUp to S$2.5mUp to S$3mUp to S$4mAbove S$4m

I am buying for (required, select all that apply)
Own stayInvestmentOthers

Daily property news 27 Feb 2020

0

Property News 27 Feb 2020
Brought to you by PropertyInvestSG

CBRE appointed leasing agent for upcoming Nanjing data centre CBRE has been appointed as the sole leasing agent for an upcoming two-storey data centre in China. The facility is named NKG2, and is in the Jiangning District in Nanjing city. The development will be managed by Big Data Exchange (BDx), a Hong Kong-based carrier-neutral platform with existing data centres in Hong Kong and mainland China. The data centre has a total gross floor area of 276,632 sq ft and will be able to house up to eight data halls. The site will be able to provide carrier-neutral data centre options with an initial power capacity of 14MW, with the ability to scale up to 40MW.

https://www.edgeprop.sg/property-news/cbre-appointed-leasing-agent-upcoming-nanjing-data-centre

:+1:

CAPITALAND ADDS £129M UK BIZ PARK TO EUROPEAN PORTFOLIO CapitaLand has agreed to acquire a business park in the UK for £129 million ($168 million), as Southeast Asia’s largest real estate group boosts its portfolio in post-Brexit Britain. The Singapore property giant said that its acquisition of the Arlington Business Park, once completed, will bring its European assets under management to S$4.8 billion ($3.4 billion), including 39 industrial or business parks and eight Citadines serviced apartments in the UK. The announcement came the same day that the company released its 2019 financial results, which showed profits after tax and minority interest of S$2.1 billion – up 21 percent from the previous year. Investing in Developed Markets “The acquisition of Arlington Business Park is part of CapitaLand’s plan to increase our investments in developed markets such as Europe, Japan and the USA,” said CapitaLand Group’s Singapore and international president, Jason Leow.

CapitaLand Adds £129M UK Biz Park to European Portfolio

:+1:

Alternative real estate assets: get ready for the floats The local stock exchange is beckoning ever more strongly for the growing range of alternative real estate assets – student accommodation, healthcare, data centres, rental housing – following a path already taken in global markets.

https://www.afr.com/property/commercial/alternative-real-estate-assets-get-ready-for-the-floats-20200224-p543uz

:+1:

SPH buying six aged-care assets in Canada for $244.5m Singapore Press Holdings (SPH) has announced, within the space of a week, two investments abroad in the aged-care business. It announced yesterday it had acquired a portfolio of assets in Canada for C$232.9 million (S$244.5 million). On Monday, it had announced the purchase of five senior independent-living assets in Japan for 5.26 billion yen (S$65.8 million). The acquisitions are in line with the media and property group’s strategy of expanding its aged-care and healthcare business in overseas markets with favourable demographics.

https://www.straitstimes.com/business/companies-markets/sph-buying-six-aged-care-assets-in-canada-for-2445m

:+1:

Oxley unit in Cambodia to seek compensation from ex-contractor OXLEY Holdings’ subsidiary, Oxley Gem (Cambodia) Co, is planning to seek compensation from its former contractor Sino Great Wall International Engineering Co (SGW) for damages suffered after repeated breaches of its contract. SGW was the main contractor for The Peak, a 55-storey mixed hotel development project in Cambodia. In a filing to the Singapore Exchange on Wednesday, Oxley said: “Unfortunately, due to financial difficulties faced by the parent company of SGW and their continued mismanagement of the project, the project was wrought with significant delays and difficulties. In light of the foregoing, Oxley Gem had called on the two performance bonds provided by SGW for the project.”

https://www.businesstimes.com.sg/companies-markets/oxley-unit-in-cambodia-to-seek-compensation-from-ex-contractor

:+1:

CDL chairman optimistic about outlook for 2020 DESPITE the disruption and uncertainty to businesses caused by the Covid-19 outbreak, City Developments Ltd (CDL) executive chairman Kwek Leng Beng is upbeat. “We view the outlook for 2020 with an optimistic prism. With the collective efforts from government, businesses and individuals, the situation will stabilise and recover in time,” Mr Kwek said. The group posted a 12.5 per cent rise in net profit to S$87.7 million for the fourth quarter ended Dec 31, up from S$77.9 million a year ago.

https://www.businesstimes.com.sg/companies-markets/cdl-chairman-optimistic-about-outlook-for-2020

:+1:

CapitaLand Q4 profit almost doubles to S$926.6m CAPITALAND posted sparkling fourth-quarter results on Wednesday, with net profit almost doubling to S$926.6 million for the three months ended Dec 31 from S$475.7 million previously. But Asia’s largest diversified real estate group disappointed shareholders with an unchanged dividend of 12 cents per share which it said is a prudent measure to enable the group to remain resilient during this period of uncertainty brought on by the Covid-19 outbreak.

https://www.businesstimes.com.sg/companies-markets/capitaland-q4-profit-almost-doubles-to-s9266m

:+1:

CDL mulls Singapore Reit for UK commercial properties CITY Developments Ltd (CDL) is exploring the possibility of floating a real estate investment trust (Reit) on the Singapore bourse holding UK commercial properties. This could happen as early as this year. The group currently owns Aldgate House and 125 Old Broad Street in Central London. “Most likely we’ll try to buy a third commercial property in the UK to give the portfolio a bit more size and diversification before we launch an IPO,” group chief investment officer Frank Khoo said on the sidelines of the group’s fourth-quarter results briefing. Asked about the potential size of the property portfolio for the Reit at flotation, Mr Khoo told BT: “I think for us we’d like to get to about £1 billion AUM (assets under management); so that would be about S$1.8 billion and then if you put in about 40 per cent leverage, you will get to a market cap of about S$1 billion.

https://www.businesstimes.com.sg/companies-markets/cdl-mulls-singapore-reit-for-uk-commercial-properties

:+1:

As coronavirus outbreak rages on, perceptions of a country’s health security to sway investors’ decision The ability of different countries to effectively deal with the deadly Covid-19 outbreak will serve as a new benchmark for property buyers, say market observers. With the rapidly spreading epidemic providing the stress test for a country’s health security preparedness, there will be some winners and losers among the favoured investment destinations. “After the epidemic, we expect health care to be even more important to buyers,” said Georg Chmiel, executive chairman of property portal Juwai IQI. “Countries like Thailand, the US, the UK, Canada, and Australia, which have good health care systems and highly ranked abilities to react to viral outbreaks, are likely to benefit from an increase in buyer activity.” Chinese investors, one of the biggest sources of cross-border capital in property markets who spent an estimated US$120 billion in 2017, would be more conscious of health security in basing their decision, he added.

https://www.scmp.com/business/article/3052202/coronavirus-outbreak-rages-perceptions-countrys-health-security-sway