Singapore property now less appealing to people

Singapore’s reputation with home investors has dropped while considered a safe market.

Being a house investment location for institutional shareholders has declined this season, compared to other developed Asia Pacific locations, notably Singapore’s appeal.

This decline in recognition continues to be attributed to the home cooling actions, as well as the glut in logistics and office space amid softer consumer message, said UBS in a report by The Straits Times.

157 percent was also surged by inbound expense to Singapore 3.4 billion in 2015 over a yearly schedule, based on information from Real Capital Analytics. But that is still a cry from your outbound money of US$28.7 billion, which submitted a growth of 49 percent.

Meanwhile, more money will be pumped into Japan’s and Australia house industries, compared to these in Singapore, Hong Kong and China. Property yields in Australia can also be considerably greater compared to the risk-free charges on the market.

Actually, house rates, along with the quantity of real estate deals and loans, when the chilling Sturdee Residences procedures had not been introduced would have been bigger by around 33 percent, stated the main bank in November 2015.

Nevertheless, some institutional investors watch Singapore as a safe market, and there’s been no exodus of property investors, according to UBS Property Management’s Mind of International Real Estate for Asia Pacific, Graham Mackie.

“Australia can be a relatively effective marketplace with solid principle of law. The Australian dollar has decreased dramatically contrary to the US dollar, and traders who’re more swayed by currency concerns view Australia as comparatively cheaper,” included Mackie.

Rochor Centre to be demolished soon

The four brilliantly coloured housing blocks will be demolished to make way for a fresh expressway.

A public housing estate in the Bugis area dating back to the 1970s, Rochor Centre, is likely to be demolished by the end of this year to make way for the brand new North-South Expressway.

Assembled in 1977, it consists of four bright coloured HDB blocks that initially placed 567 homes and 183 shops. While 36 families have relocated as of January 2016 but because of the forthcoming redevelopment, 106 shops have closed.

Nevertheless, many long-time residents are saddened about needing to move out of Rochor Centre.

“It reminds me of the kampong that I grew up in when I was small.”

In accordance with Member of Parliament for Jalan Besar GRC, Denise Phua, which includes Bugis, life will never be the same for the residents, however they could look forward to a tranquil surroundings as well as more greenery compared to that in busy Rochor.

The Housing Board revealed that Parc Riviera 91 percent of the residents in Rochor Centre will move to HDB flats at nearby Kallang Trivista. Of this, 15 percent chosen to relocate to units close to former neighbours in Rochor Centre or their relatives.

Rochor Centre is one of three historic public housing estates that will soon be torn down for redevelopment. The others are four low-rise and Dakota Crescent HDB blocks in Siglap, that were built in 1964 and 1958 , respectively.

S P Setia Berhad – Business Overview

S P Setia Berhad is recognised as Malaysia’s top listed real estate player using an established reputation for innovation-driven and standard-setting developments. The Group’s strength lies in its prowess in creating environments that are purposeful predicated on its development philosophy of Live Learn Work Play.

The developer has constructed a solid base in Malaysia offering an extensive product range which includes luxurious residences, eco safeties, townships, business parks, commercial and retail developments.

Incorporated in 1974, S P Setia started out as a construction company and was listed on the Kuala Lumpur Stock Exchange (now Bursa Malaysia) in 1993. In 1996 it refocused its core business to property development with encouraging businesses in construction, infrastructure and wood -based production.

Award-winning Developer

S P Setia is the sole Malaysian developer KL Eco City Price to be recognised six times from the International Real Estate Federation (FIABCI) for three Best Master Plan Developments, one Finest Residential (Low-Rise) Development, a Specialised Job (Purpose Built) and a Greatest Retail Development award. The Group has garnered eight FIABCI Malaysia Property Awards.

No other developer has achieved this feat since the inception of the awards.

A Growing International Presence

In the past seven years, the Group has also spread its wings to the Uk, Singapore, Australia and more recently Vietnam.

In Singapore, S P Setia created an office in 2009 and two years later, the Group acquired a 29,440 sq ft site to develop a high rise condominium called 18 Woodsville. The successful launch of the project spurred the developer to get another parcel of land for the high-end high-rise project of Eco Sanctuary.

The successful launch of Fulton Lane spurred S P Setia to look at more chances in Melbourne along with the Group acquired another piece of land, this time on the upmarket St Kilda Road, also for its Parque project in the City of Melbourne.

In April 2012, S P Setia was invited by the Malaysian Government to lead the Malaysian association formed to collectively develop the China-Malaysia Qinzhou Industrial Park (QIP). In September Battersea Power Station was got by S P Setia by way of a joint venture consortium collectively with Sime Darby as well as the Employees Provident Fund.

Driving the Malaysian Property Sector

S P Setia appreciates a strong presence in the state of Selangor, Malaysia through its main projects, the 2,525-acre Setia acre – Alam and 791 Setia Eco Park. In the city of Kuala Lumpur, the developer has constructed three high-end projects which are Setiahills, Duta Tropika and Duta Nusantara.

Leveraging on the strong demand for investment and commercial grade properties, S P Setia has also grown to the commercial sector with projects such as SetiaWalk, the Group’s first maiden retail mall project, Setia Avenue called Setia City Mall and also the forthcoming KL Eco City. The futuristic KL Eco City using its focus on sustainable development will function as a nexus of commercial, residential and recreational interests for the estimated six million inhabitants of Selangor and Kuala Lumpur.

S P Setia is also well established three other key economic areas in Malaysia, in the state of Johor, Penang and Sabah.

{New Jurong Innovation District to improve property demand

New Jurong Innovation District to boost property demand

Jurong Innovation District resize

Artist’s impression of the new Jurong Innovation District. Source: JTC

There were no property-related measures announced in Finance Minister Heng Swee Keat’s maiden budget speech, which came as no surprise to experts.

“(The) lack of developments to market cooling measures was expected as the government has conveyed its concern that early easing of market cooling measures might cause a market rebound,” said Tay Huey Ying, Head of Research, JLL Singapore.

“The development of the JID will see the currently sleepy Jurong West locale transformed into a thriving hub of activity. As the development of the JID takes shape, we can expect demand for real estate ranging from houses, offices, retail, hospitality and industrial to climb, and along with this, a general rise in property worth in the vicinity of the JID,” noted Tay.

“(The) new precinct gem residences toa payoh in the northwestern part of the island embodies the ‘live, work, play, learn and create’ concept. It plans to be the industrial park of the future, where it ties up manufacturing, academia and research in a single location,” said Desmond Sim, Head of Research, Singapore & South East Asia at CBRE.

Meanwhile, analysts are excited about the future development of the Jurong Innovation District (JID). Phase one is expected to be ready in 2022.

CBRE Research anticipates the authorities to carry on monitoring the residential marketplace.

She included: “It would likewise trigger private-sector interest in property development and investment, and therefore, we can expect to see an elevated degree of activity in this locality in time to come. Possibly, the Government Land Sales (GLS) programme might soon start to comprise land tracts in and around the JID to kick start the transformation.”

Specialists discuss suggestions for Fresh Start Housing Scheme

Specialists discuss suggestions for Fresh Start Housing Scheme

Specialists hope that the 2016 Budget, that will be announced this Thursday (24 March), will solve some current problems with the Fresh Start Housing Scheme, reported Channel NewsAsia.

This scheme helps HDB renters buy their own flat, with a focus on families with young children, and people who previously owned a dwelling.

But a key issue is fine tuning the eligibility standards to make sure that the beneficiaries actually deserve such support, said DTZ’s Research Head Lee Nai Jia.

“I believe this is a remarkable scheme. The crucial dilemma is how we’re going to identify this group and their income limit, and (how we’re going to define) the form of benefits to give this group.”

According to member of the Government Parliamentary Committee for National Development, Saktiandi Supaat, the scheme provides a second chance to families currently leasing a HDB flat, especially those who were made to sell their first unit due to a problem that is inescapable.

Nevertheless, the support given should consider the distinct conditions of every household.

For instance, families would need to show evidence that they have the means to cover the new flats.

Apart from providing the genuine house as well as grants, it is also significant to educate families about activities, financial management, and responsible homeownership to maintain their children in school, explained the Fei Yue Family Service Centre.

“We do not need to come to a stage where they are on hillview peak condo the scheme, and then there’s a drawback, and they’re penalised or thrown out of the scheme,” said the centre’s main social worker, Lilian Ong.

“We could introduce some sort of preparation or transitional programme to ready the whole family for this”, and this should run for six months, she said.

The Housing Board as well as the Ministry of National Development have held public consultations to collect suggestions on implementing the scheme. The comments contains provision of more grants and vision exchange jurong concessionary loans, as well as shorter leases.

HK dwelling sales plunge 70% from last year

The number of residential transactions in Hong Kong plunged by 70 percent on an annual basis as buyers shunned the home market amidst dropping costs and economic uncertainty, reported Bloomberg.

Hello @ : T Space | Parc Life Sembawang | Centrium Square Commercial

According to government data, only 1,807 units were sold in February compared to 2,045 in the previous month. This is a far cry from the 6,027 trades recorded during

Moreover, house prices fell 10 percent from their September peak due to worries over the strategy by Hong Kong authorities to raise the supply of residential units in the next five years along with China’s slowing economy. Local officials also reiterated the present property will stay in place.

As such, BOCOM International Holdings’ analyst Alfred Lau believes that home prices in the city could fall by 30 percent in 2016.

Given this challenging environment, Sun Hung Kai Properties slashed its sales objective in Hong Kong by 18 percent to HK$27 billion for the whole of 2016. Income by New World Development additionally plunged 79 percent during the first half of its own financial year to HK$2.8 billion, which is only 28 percent of its full-year goal.

Regardless of the scenario that is challenging, some developers still see opportunities in Hong Kong. For instance, Goldin Financial Holdings’ Chairman Pan Sutong feels that costs of luxury dwellings will remain bouncy, especially for those situated in regions with limited supply.

CC @ West Coast Upgraded

The West Coast Community Centre (CC) will be updated in Q1 2015 to provide better facilities targeted at young families, youth and kids with special needs, according to media reports.

It will comprise a fresh extension building with a fresh basketball court that is sheltered, a mini-theater, plus a playground for children with special needs.

The CC will also be connected to West Coast Plaza, and also the West Coast hawker centre via sheltered wheelchair-friendly connection bridges.

It will also be bridged to Clean Community Deck, Beautiful and the upcoming Lively to be built over Sungei Pandan Kechil Canal. Likelihood to bring the residences @ the upcoming condo a great leisure activities , Parc Riviera Condo

Speaking at the launch of the centre’s updating programme on 4 January, Member of Parliament for West Coast GRC S Iswaran said, “The community centre should be a place which brings all segments of the community collectively. We have varied needs and certainly kids with special needs are just one aspect of that, and additionally seniors as well as the parents who come with the kids.”

Located along Clementi West Street 2, current facilities at the West Coast CC comprise basketball court, a badminton court, dance studio and roof terrace.

Government 2016 Land Sales

Four supported list sites and 12 reservation list sites will soon be published under the first half 2016 Government Land Sales (GLS) Programme, shown the Ministry of National Development (MND).

The confirmed list contains three private residential websites (including one EC website), and one commercial and residential website, which could give about 1,560 private units (including 640 EC units) and 11,000 sqm GFA of commercial space.

The reserve list includes eight private residential sites (including one EC website), one commercial and residential site, two commercial sites and one White site. These websites could afford about 5,860 private residential units (including 820 EC units) and 261,600 sqm GFA of commercial space, mostly for office use.

The residential sites on the 1H 2016 confirmed list are located in Core Central Region and the Outside Central Region.

The 1H 2016 reserve list comprises three sites at Woodlands Square, Beach Road and Central Boulevard for mixed-use developments which will comprise mainly office space. These three websites will enable developers to pioneer the development of more office space if they evaluate that there is demand.

For much more details on the planned sites under the 1H 2016 GLS Programme, just click here to the STARS OF KOVAN

When is it a Good Time to Refinance Your Home Loan?

If you’ve just purchased your first home, congratulations! Not only do you now have a new position of your own, however you also have a 25-30 year loan in your control that’ll take up the lion’s share of your budget.

Mercifully, there’s a means for you to reduce your monthly repayments and increase the capital gains in case you wish to sell your home in the future – through refinancing. You’re still several years away from refinancing (every 3 years), but it doesn’t hurt to learn about it now.

What’s Refinancing?
When you refinance, you’re choosing to end your existing loan program with your present bank by continuing your repayments with another bank that offers a better loan package.

For example:

Let’s say you’ve a 1.95% SIBOR bundle from your present bank. By refinancing your loan with the bank offering a loan bundle that is better, you’ll be able to make lower monthly repayments.

Recall, there’s not any such thing as a “loyalty” discount for staying with your present bank. It’s in your best interest to refinance to save cash if another bank offers a better loan bundle.

How Does Refinancing Compare to Repricing?
Both words sound similar, but they mean something different. The biggest difference between the two is the fact that repricing is when you switch from one loan package to another within the exact same bank.

For example:

Let us say you’ve a 1.95% SIBOR package from your bank, and after a few years it offers a new 1.65 SIBOR bundle. You’d be repricing because you switched loan bundles within precisely the same bank in case you changed bundles.

You ought to also not that some banks offer “free” repricing, enabling you to change packages without incurring any “management fee,” that’s usually around $500.

How Much Does Refinancing Cost?
Refinancing is not without its prices. By simply requiring all banks to discontinue paying subsidies on valuation, legal fees, and fire insurance mAS made sure of that. That means you will have to pay those fees to the bank whenever you want to refinance, and that can mean $2,000 – $3,000 . Thankfully, you can use you CPF to pay these fees.

Moreover, some banks have a lock-in clause that survives from 2 – 5 years. So it is best to wait until the lock-in period finishes to refinance.

Important Note: In case you purchased your house before October 2012, you may recall the bank paid specific subsidies on your home loan including legal costs, valuation, and fire insurance.

When Should You Refinance?
Depending on your situation, you will have to hesitate until either the “clawback” or lock-in period in your home loan has ended to refinance. However, what about when that period passes and it’s safe to refinance without any extra fees?

You’ll know it’s the perfect time to refinance when:

A better bundle is offered: The Andrew Residences Potong Pasir – Home loan packages change from month to month. If you managed to get a good home loan deal, it won’t stay a good deal forever. So once you can refinance (generally after 3 years), be sure to search for financing package that’s at least 0.5% less than your present rate. Don’t forget, the lower your interest, the lower your repayments.
You should alter you loan’s tenure: Refinancing can help, if you are a borrower who is not worried regarding the total cost of your loan, but the cost of making monthly repayments. So if your loan’s tenure is 25 years, you can refinance it to 30 years, that will decrease your own monthly repayments, but raise your overall cost.
Your savings matches or exceeds your cost within a year: Before you refinance, ensure you calculate whether your savings is more than the cost in a year. In this case it is 15 months, so it is advisable to find a better deal.

The Criterion EC

It’s only a stone throw away from Yishun Stadium in addition to Orchid Country Club. Future residents will soon have the capacity to reach the nearby eateries as nicely as nicely as Khatib MRT Station.

The Criterion, an approaching EC in Yishun

The Criterion Executive Condominium – Transport

For they are able to arrive in about 20 minutes’ time utilizing the CTE through the SLE at the CBD.

This connectivity also enables future residents in order to get in about 17 minutes of driving to the Orchard Shopping region. The SLE additionally links to the KPE, the TPE as well as the BKE – making driving round the isle a wind.

The Criterion Executive Condominium –

This new EC, The Criterion is only minutes’ walk to Yishun Mall, a neighbour bunch of retail stores, eating outlets and supermarkets where its future residents can locate a broad selection of goods and services including clinics, beauty salons, clothes, groceries and other household products that will have the capacity to fulfill their daily needs and requirements.
For getting also fine and economic local treats and fresh market produce, future residents will only have to take a brief drive down to the nearby Chong Pang City where the marketplace and food center is situated. For more shopping, amusement, leisure and dining facilities, future residents can get to the Northpoint Shopping Centre found beside Yishun MRT station.

The Criterion Executive Condominium – Educational Institutions

With many local schooling facilities found within new EC’s, the area of The Criterion, parents with school going kids do not need to be concerned about their kid’s schooling needs.