The Vales EC

Recent media has reported that the sole penthouse in the luxury development at Le Nouvel Ardmore has been sold by confidential buyer for the huge sum of $51 million.

The sale price equates to $3,675 per square foot and could very well be a record since the start of the global financial crisis. One must consider that, of the 13,875 square foot unit,5,000 square feet of that number is a roof terrace, making the indoor living figure over $5,000 for the property’s net per square foot amount for The Vales EC.

Sengkang Anchorvale Vales EC

Experts are encouraged by this exciting result considering prime district condos having seen declines in quarterly figures eight times in succession. Add the loss suffered by Katsumi Tada, a Japanese billionaire, a month ago when his sale of the St. Regis penthouse brought a loss of $15.8 million.

Savills head of research, Alan Cheong, has stated that this is a signal that the market for The Vales Anchorvale Crescent is not entirely dead. Many people who are waiting in the wings may choose to take that plunge.

Of the 43 freehold project units sold by Wing Tai, this is the fourth. The project is situated in the posh enclave of Ardmore Park that is just off Orchard Road. Last April the project obtained its Temporary Occupation Permit for The Vales ec.

New Vales EC at Sengkang

One unit was sold by Wing Tai in 2011 and two more were sold in 2013, all of which went for a price over $4,300 per square foot. It has been said that the penthouse price is given on request of application.

Chong also pointed out that the project being a completed one greatly helped with securing the deal, stating that this gives those buyers who have a super high net worth, and who would rather invest in something they can physically see as opposed to something that is still in the planning stage, more confidence to do so in The Vales.

The Vales by SinghaiYi

Partner at the Rodyk & Davidson law firm, Lee Liat Yeang, has noted that another contributing factor to the high price is that the penthouse is a rare large size. A unit is considered to be very large if it is anything over 3,500 to 4,000 square feet, which is usually the case of penthouses where range of size is concerned.

One can compare this sale to the sale of a penthouse at 21 Angullia Park in June of 2013, which sold for $42.9 million for The Vales EC.

In November of 2011 the sale of a 4 bedroom condo at Patterson Hill’s The Marq went for $20.5 million. There was also a sale in July of 2010 of $30 million, equating to $3,432 per square foot, for a penthouse on the 29th floor close to The Ardmore Park.

Sol Acres EC

They could be HDB upgraders, or singles together with new newlyweds searching for their particular 1st homes. The Total Debt Servicing Ratio framework just closed down the lid tight on liquidity in addition to caused it to be that much more difficult for HDB upgraders to obtain an exclusive real estate property, not to mention new couples ambitious to join the fray by bypassing the HDB route in buying Sol Acres.

Lee explained.When it comes to total sales, the number of properties effectively auctioned off increased to 10 during the third quarter from nine within the former time period. Particularly, five belonged under owner’s sale, translating towards a rate of success of 6.8 percent as there were 73 residences marketed in this segment. Relatively, a couple of properties out of 70 had been sold in this section in Q2 2014 for Sol Acres.

E-Application for Sol Acres EC

Many buyers are trying to find houses around the MRT Train station as transport selections are many and hence it has caused numerous of the real estate asking prices in the proximity of the MRT to increase. There ought to be Sol Acres Choa Chu Kang.

Except for the brief blip during the worldwide financial doom and gloom, which does not take long to recover back to state, home owners/investors have enjoyed in excess of handsome profit margins inside the previous cycle,” she said. As potential home sellers assume there is always quite some time well before rates of interest increase, plus due to their own existing financial muscle, they are not likely to lower their very own prices for Sol Acres.

Sol Acres Choa Chu Kang Grove

Looking at resale market, although many units happen to be priced lower, there are actually home sellers planning to hold off right until market conditions are more favorable for them to sell.In contrast, sales of new houses is anticipated to be better as developers have more resources to market projects strategically as well as creatively to draw Sol Acres buyers.

The new Science Center has taken longer to complete as construction works were shelved to spread out the requirement for construction workers, as outlined by early on reports. Mr Khaw noted there are many more options with regard to Jurong within the years to come, along with huge developments for the transport systems, which will be executed in stages for Sol Acres.

Sol Acres EC

August’s developer new project sales continued to be flat month to month at 13 units, in line with the latest survey by UOB Bank, Singapore. As stated by reviews, City Gate only managed to sell 10 percent of Sol Acres units available as customers continue to be mindful of the house current market. To move new homes, many high-end developers slash purchase prices. For instance, soon after reducing prices by 14% from $1,800 psf to $1700psf, The Vermont on Cairnhill was able to promote its left over units.

Waterbay

Looking at it from a commercial point of view, a buyer of a retail unit would already have a group of available customers ready and waiting from the residential area of the development. This is something that can guarantee a good amount of stable foot traffic to the shops situated below the residents.
In addition to this, the amount of mixed use developments that has been released under the GLS programme is pretty low. Since 2010, there have only been 8 mixed use sites sold, whereas residential sites in the same year totalled 83. We should see a sustained demand over the next few years due to mixed use sites being so scarce for Kingsford Waterbay.

Kingsford Waterbay Development

There are some analysts however, who argue that not all residential units found in a mixed use site will not promise a high rental yield as a strictly residential development in the same area.

It is believed that there is no real guarantee in the rental potential of Kingsford Waterbay in mixed use developments. It is normally the homes that are situated in close proximity to public transport hubs, like MRT stations, that tend to demand higher rentals as opposed to those homes in the same area that are not as accessible. Just because there are retail facilities at Kingsford Waterbay that have been added will not always guarantee better prices or residential rents. For the most part, one will find that what is yielded for mixed use development residential units will more than likely be the same, or close to, what is yielded in a strictly residential project found in the same area.

Kingsford Waterbay Condo

The Director of Research and Advisory for Colliers International, Chia Siew Chuin, feels that it is more likely that quite a few of these mixed developments for Kingsford Waterbayhave an additional retail section that is geared towards serving the residences in the immediate are. In some instances however, where there are over 25 retail units for example, the location then becomes critical. It would mean that the project would need to be situated in a location with heavy traffic, preferably close to a transportation hub, if one hopes to see a lively amount of shopper traffic for the retail element of the project.

Upcoming mixed use developments

It does appear that we will see a growth in mixed developments in Kingsford Waterbay entering the market if we go by the rising demand for convenience along with Singapore’s land supply being scarce. In fact, looking at the 2013 URA Draft Master Plan, it has been revealed that a new addition next to Holland Village has been set aside for a private housing project. Holland Village’s new 6 hectare extension is set to be completed over the next 2 years and will give an additional 1,500 private residential units in its mixed use developments.

Waterbay

Ascent at 456 is a development of Tiong Aik. It’s a mixed use freehold development that has the convenience of being situated along Balestier Road. It will feature 17 retail units, 28 residential units and 2 F&B outlets. Its close proximity to a number of amenities, such as several schools, Zhongshan Park developments and Novena Medical Hub will be of benefit to Ascent at 456.

A second mixed used Kingsford Waterbay development that is in the works that home buyers and investors alike should watch is the Venue Residences and Shoppes. A development by CDL (City Development Limited), it is situated along Upper Serangoon Road and will be comprised of 28 commercial and 266 residential units. In addition to the convenience and enjoyment of the various amenities that are offered in this developments, residents will also benefit from the amenities in the surrounding area, such as NEX Mega mall, Shaw Plaza, a number of food centres, and a variety of reputable schools in Kingsford Waterbay.

Botanique at Bartley Condo

The property selling prices within the city state has decreased simply because of the absence of demand of the buyers. In spite of this, many real estate property specialists noted that this does not necessarily suggest that the local real estate industry is not a good place to put money into as various believe that the property prices for Botanique at Bartley Condo will definitely gradually increase over the long-term. With that in mind, many buyers are on the lookout for cheap deals in the market as there are many sellers out there and plenty of units available for the buyers to choose.

Demand from Buyers on Botanique at Bartley

Then again, choosing your house in Botanique at Bartley Condo could very well be a complicated process & below are several tips provided by real estate professionals who have experience in this aspect of the trade. The government cooling measures that include the total debt to service ratio TDSR has reduce the ability for young couples who are organizing his or her new homes to loan the amount meant for their house loans. Many of these buyers are disappointed that they are not able to buy a their dream property in botanique at Bartley as it is a dream home for many buyers.

UOL Condo

Buyers for Botanique at Bartley

Sellers for Botanique at Bartley Condo have become more than willing to barter, it said. Significantly, high end family homes happen to have been toughest hit because of the government’s various property cooling methods, with purchase prices dropping for 6 continuous quarters. Therefore, many buyers are unhappy that their assets are shrinking as they are seeing their equity values dropping consistently for the past quarters.

UOL new condo

Botanique at Bartley Condo

Furthermore, property developers for Botanique at Bartley Condo have previously enjoyed the gains inside the residential home price run-up from the previous property cycles. Therefore, till now, the only party that seems to be benefiting are the developers who have chalked up handsome profits during the last run up and many buyers are already facing significant problems in getting their loans. Nonetheles, property developers have previously enjoyed the gains inside the residential home price run-up from the previous property cycles.

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Condo Launch

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newproject Eligibility

Condo Launch Eligibility guide

1) Main applicant must be a Singapore Citizen and above 21 years old. Co-applicant can be a Singapore Citizen or Singapore Permanent Resident.

2) Both applicants of Condo Launch must be either First Timer or Second Timer (Existing Owner/Ex-Owner of HDB Flat).

3) Applicants must form a valid family nucleus to buy the EC under one of the HDB’s eligibility schemes: Public / Fiance & Fiancee / Orphan / Joint Singles (min 35 yrs old).

4) Applicants combined household gross monthly income must not exceed S$12,000.

5) Applicants and occupiers listed in the application form must not own or dispose of any private property within 30 months before the date of application and between the application date and the date of taking possession of the EC.

6) Second-timer applicants who are Existing Owner or Ex-Owner (a flat, resale flat with CPF Housing Grant, DBSS flat from developer) must meet the 5-year Minimum Occupation Period (excluding any period of subletting of whole flat) before application of a new EC.

 

Condo Launch

Condo Launch eligibility guide reference:

For more information regarding eligibility for Executive Condominium, you can refer to the HDB website.