Archive for category: News

Parc Canberra, a 496-unit executive condo (EC) job along Canberra Link, started its own sales gallery on 31 January, using average unit price pegged at about $1,080 per square foot (psf).

Online applications for components will close on 10 February, while reservations will commence on 15 February, reported The Business Times.

CapitaLand has acquired Pearl Bank Apartments, check out the One Pearl Bank location map.

The growth will have 10 cubes, with components containing 3 – to five-bedroom apartments.

More than 80 percent of those units will come equipped with utility rooms. Penthouse units may also feature high ceilings to your dining and living areas.

Indicative prices to get a three-bedder start from $855,000 to about $1.1 million, even though a three-bedroom and a utility area and/or yard opt for about $958,000 to $1.2 million.

A four-bedder using a utility area and yard price around $1.2 million to $1.3 million, even though a five-bedder using a utility space and yard is priced from $1.5 million to $1.6 million.

Smart house technology have been integrated to all components, which were also supplied with Duravit sanitary wares, Bosch kitchen appliances, Nespresso coffee machines and Hansgrohe sanitary fittings.

Developer Hoi Hup Sunway Canberra, that will be a joint venture between Hoi Hup Realty and Sunway Developments, said buyers can also avail of a deferred payment scheme.

Inspired by Australian outside culture, the evolution’s design incorporates pitched roofs. The landscape will also consist of green roofs and water cascades.

Parc Canberra is located near Canberra MRT station, just across the road from the upcoming $1.5 billion Bukit Canberra — an integrated sport and neighborhood hub job that is slated to start progressively from 2020.

Nearby dining and shopping choices comprise North Point City, Canberra Plaza, Sembawang Shopping Centre, Sun Plaza and Chong Pang food market.

The lion’s share, or 45%, of complete property investment funds deployed this season is expected to find its way to Europe, based on a printed survey. The Asia Pacific region is very likely to attract 31.9percent of funds this year, substantially rising from 19.6percent in 2019.

One Pearl Bank residences, former known as Pearl Bank Apartments, going to re-developed by CapitaLand.

The poll results this season are based on information in 140 respondents.

In general, respondents indicated plans to deploy roughly US$101.3 billion ($136.3 billion) to property worldwide. However, the majority, or 61.2%, will arise from shareholders in Europe.

Additionally, the poll discovered that institutional investors have signaled a higher appetite for danger this season, and they still continue to goal value-added investments in Asia Pacific. Additionally, this reflects investors’ continuing search for different techniques to set up drive and capital yields, at the face of continuing low rates of interest and reduced returns.

Over 63% of surveyed institutional investors expect their allocation for property to raise within the next couple of decades.

Sydney and Melbourne kept their rod and runner-up places as investment destinations, while Tokyo arrived in third location. Singapore dropped from sixth place last year to seventh year, as did Seoul which dropped from fifth position .

More than 62.5% of Asian investors signaled Sydney as their favorite destination, followed by 58.3% who termed Melbourne. Europeans and North Americans also speed Sydney tremendously, with 75% and 60% of their various investors standing it as their taste.

By business, office land was the most favored one of the shareholders, with 90.2% of these standing it as their very best industry. It was followed closely by industrial/logistics with 73.2%, and residential in 53.7%. Investment requirement for retail resources diminished among institutional investors, together with less than twenty willing to commit funds to the industry, in comparison to two-thirds in previous year’s poll.

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With strong demand seen for shophouses last year, the start of 2020 saw the latest slew of these invetment properties up for sale.

A pair of conservation shophouses along Tras Street at Tanjong Pagar is around the market with a direct price of $12 million to its larger land and $10.8 million to the smaller unit. This works out to about $2,800 per square foot (sq feet ) for each shophouse, only marketing agent CBRE announced on Tuesday (Jan 7).

The larger shophouse has a land area of about 1,494 square feet (sq feet ) and total ground area of about 4,257 sq feet, whereas the smaller unit has a land area of about 1,298 sq feet and total ground area of about 3,852 sq ft.

They are a brief walk from Tanjong Pagar MRT Station, and are fully leased to food and beverage operators around the floor and”soho” or small office/home office customers on the top floors, said CBRE.

Present transactions of 99-year leasehold shophouses comprise 34, 36 and 38 Tanjong Pagar Road, that have been sold together in December 2019 at about $16.4 million or about $3,000 per sq feet; and 76 Pagoda Street, that offered in July 2019 at $13.3 million or $3,500 per sq feet, added CBRE.

Clemence Lee, senior manager of capital markets at CBRE, said that investors’ interest has started to change to”well-located 99-year leasehold shophouses that are thought to provide better value and greater yields”, on the back of increasing prices for 999-year or freehold central business district shophouses.

The 2 shophouses can be purchased individually or together, and are on sale via an expression of interest exercise that closes on Feb 12 at 3pm.

Their direct prices start from $9.9 million to its East Coast shophouse and out of $4.98 million to its Geylang home, marketing agent PropNex Realty said on Tuesday.

The exercise for the two possessions closes at 3pm on Jan 30.

The shophouse on 711 East Coast Road also has a student hostel permit, which allows accommodation facilities for students studying in local primary schools, secondary schools and junior schools, PropNex said.

The four-storey house has a land area of 2,491 square feet (sq feet ) and a total floor area of about 7,670 sq ft. it’s zoned for residential and commercial use on the ground floor.

The East Coast shophouse is leased to a retail store on the ground floor and into a student hostel operator on the top floors. The nearest MRT station is your forthcoming Siglap station on the Thomson-East Coast Line.

PropNex associate division manager Loyalle Chin said:”Having an appealing rental return of more than 3 percent and a very low per-square-foot (psf) price of around $1,300 psf, this asset will be considered by high-net-worth individuals with an eye for undervalued investments, as well as family boutique real estate players trying to expand into hospitality”

It has a present plot ratio of approximately 1.8 and an allowable gross plot ratio of 3.0, which provides it redevelopment potential.

The two-storey shophouse has complete tenancy, using its floor storey approved for food and beverage operations using a liquor permit, while the top floor is used for home. It’s zoned for residential and institutional use.

The rental return of 4.5 percent for its Geylang shophouse is one of the greatest across shophouses in Singapore, Mr Chin said. He noticed that the rental return for a freehold or 999-year leasehold shophouse is typically between 1.8 percent and 2.5 percent.

The house’s owner is expecting to”sell fast” as the family is trying to divest the asset for personal reasons, Mr Chin said.

Located at the intersection of Sims Avenue and Geylang Lorong 11, the shophouse is about a 600-metre walk into Kallang MRT Station on the East-West Line.

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According to the latest Fitch Ratings, private land prices in Singapore is forecast to rise by a modest 2 percent during the following two years, a significant drop compared to 8% increase in 2018, reported that the Business Times.

“We expect home price growth to signify the regaining real GDP growth rates of 1.5percent in both 2020 and 2021, after expansion decelerated to 0.6percent in H1 2019,” Fitch said in its Global Housing and Mortgage Outlook 2020 report.

By Q3 2018 into Q1 2019, mortgage rate increase and regulatory sanding saw private dwelling prices dropped 0.7%. But, land prices have rebounded since Q2 2019 and Fitch is anticipating”minor expansion” to the remainder of the year.

The report also noted that private land prices will continue to climb if debtor affordability is enhanced, home incomes grow faster than house prices and when interest rates are low, adding:”but when the government viewpoints housing prices as increasing more than is warranted by economic fundamentals, we anticipate that the authorities would again trendy the market through macro-prudential measures”

Fitch expects the home NPL (non-performing loan) ratio to marginally increase in the subsequent two years, albeit remaining low at 0.4% to 0.5%, on the back of enhancing family occupancy ratio.

Moreover, Fitch doesn’t anticipate a mortgage rate increase in the near future, encouraging borrowers’ ability to pay. Mortgage rates rapidly increased to 2% at the end of the first half of 2019 because of a sharp increase in the benchmark rates such as the Singapore Interbank Offered Rate (Sibor).

On the other hand, the city-state’s benchmark rate began to decrease after the US Federal Reserve introduced a collection of three rate reductions from July this year.

For this particular, mortgage financing growth is forecasted to remain subdued in the near term.

“After a projected small decrease of 0.5percent in 2019, we anticipate 2% annual increase in each of 2020 and 2021 consistent with enhancing market sentiment,” said Fitch.