Issue 195

Copyright 2011-2014 www.Propwise.sg. All Rights Reserved.

CONTENTS
p2

FROM THE

EDITOR

3 Tips to Keep in Mind When Asking

Welcome to the 195th edition of the

Singapore Property Weekly.

For Property Advice

Hope you like it!

p7

Singapore Property News This Week

p12

Resale Property Transactions

Mr. Propwise

(January 28 February 3 )

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SINGAPORE PROPERTY WEEKLY Issue 195

3 Tips to Keep in Mind When Asking For Property Advice

By Property Soul (Guest Contributor)

At a recent Invest Carnival 'Meet the
Investment Bloggers' session, there was a
question for me from the audience during a
panel discussion. Someone asked what I do
with my money after selling four properties. It
sounded like how the media interviews lucky
winners after they win the lottery or the
Changi Millionaire contest.

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SINGAPORE PROPERTY WEEKLY Issue 195

Unlike a windfall from hitting a jackpot, there
is no excitement at all. Like what some
investors say, you feel ten times more excited
the moment you find and secure a good deal
compared with the moment you profit from it.
I didnt even consider celebrating or
rewarding myself. The profit was expected.
On the handover date of every sale, I just
made sure that my lawyer completed the sale
smoothly and deposited the cheque as
instructed.
How I invest my property profits
But wait, he was asking how I invested the
profit after selling my properties.
Frankly, I did nothing until I got the time to put
it into fixed deposits in a few currencies. But
for most of it, I hold cash or assets that may
not produce any income.

The guy wouldnt have asked this question if

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he knew that everyone had different financial

goals. And my answer could be irrelevant and
misleading to him.
Every week I receive many email messages
from readers of my blog asking for property
advice. Asking for advice is an art but not
many have mastered it.
Dont get me wrong. I often find messages
from readers sharing thoughts, exchanging
ideas or giving feedback a source of
inspiration. They give bloggers like me food
for thought and the motivation to write.
But most of the time, readers seeking advice
could do it better. Below are three tips that
can help you ask the right questions.
Tip #1: Dont copy others blindly. You
know yourself best.
If those so-called gurus are selling you an
investment opportunity,
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SINGAPORE PROPERTY WEEKLY Issue 195

you should ask what they have in their
portfolio. Dont just get the list of properties.
Find out when and at what price they bought
them. You will then have an idea whether they
are a real guru or not.
Look at what others bought but dont copy
them blindly. What others have in their
portfolio may not be suitable for you. We all
have different levels of financial literacy,
earning ability and holding power.
Similarly, what others are doing with their
money may be irrelevant to you. We are all at
different stages in our financial journey. Many
are trying to clear their debts. More are
saving to buy for the first time. Some are
accumulating wealth through aggressive
investing. Others have already achieved
financial freedom. The rest are seeking
shelter to preserve their wealth.

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Dont ask What are you buying? Find out

what is available and appropriate for you.
Tip #2: Dont wait to be spoon-fed. Learn
the basics yourself.
Some readers like to drop me a one liner
question like to buy or not, buy now or
later, when can I buy, what is best to buy,
should I buy xxx, or what do you think
about buying property in xxx.
I can tell you that you should buy a property
project tomorrow. But why? Why this project?
Why tomorrow?
If I give you a quick answer, you learn
nothing. It is because you are fed with fish but
you dont know how to fish. You can only
come back to me with more one liner
questions.

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SINGAPORE PROPERTY WEEKLY Issue 195

Instead of waiting to be told what to do every
time, why dont you learn all the basics about
property investment? It is important you
understand the reasons behind when to buy,
what to buy and how to tell a good deal from
a bad one.

they say it is normal, it may turn out to be

otherwise. If they say it doesnt look good,
they may upset the person unnecessarily.
Either way they cannot win. That is why they
always end with asking the person to go see
a specialist for a thorough check-up.

Dont ask What do you think? Find out the

basics and share with me what you think.

Then why ask in the first place?

Tip #3: Dont look for a quick fix. Learn the

skills to fix it yourself.
Do you know what annoys doctors the most?
It is when people whom they barely know
approach them and present their symptoms,
but without the full picture and their medical
history, and expect to have an immediate
diagnosis of whether they are fine or
abnormal.
Doctors know that without the full information
they have a high chance of getting it wrong. If
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Likewise, some people like to share their full

property stories and ask the experts for some
quick-and-dirty advice. But these experts
dont know you in person, your investment
goals, your financial ability and your risk
appetite. To be safe, they can only give you
some general advice.
So why ask in the first place?
Sometimes people have already made up
their mind. But they ask anyway to look for
confirmation or reassurance before taking the
plunge. One day if it turns out to be wrong,
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SINGAPORE PROPERTY WEEKLY Issue 195

at least they have someone to blame.
Or even if they get the answer from the
experts, they still dont know what to do.
Because they lack the knowledge to tell why
they have to choose A instead of B. Because
they lack the courage and confidence to
choose A over B.
Dont ask What should I do? Find the facts
and figure out what to do for yourself.
By guest contributor Property Soul, a
successful property investor, blogger, and
author of the No B.S. Guide to Property
Investment.

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SINGAPORE PROPERTY WEEKLY Issue 195

Singapore Property This Week

Residential
GCB at Swettenham Road selling at $23.52
million
A good class bungalow (GCB) at Swettenham
Road is asking for $23.52 million or $1,543
psf based on the freehold land area of
15,293.53 sq ft. According to market experts,
this value is lower than the sellers previous
asking price of $30 million about nine months
ago. Data that was compiled by CBRE
showed that in 2014, 28 bungalows totalling
$626.14 million changed hands in GCB
areas. This amount was lower than the $682

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million that was amassed from the sale of 29

bungalows in the same area in 2013; and it
was also significantly lower than the $1.17
billion that was transacted from the sale of 54
bungalows in 2012. The average price per
GCB transaction fell by 5 percent to $22.36
million from 2013 to 2014, said CBRE. KH
Tan from Newsman Realty added that the
Total Debt Servicing Ratio framework and the
additional buyers stamp duty have negatively
affected demand for GCBs as these cooling
measures makes it more difficult for buyers to
finance properties.
(Source: Business Times)

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SINGAPORE PROPERTY WEEKLY Issue 195

SRX: resale condo prices fall by 0.2%
According to SRX Propertys flash estimates,
the overall resale price index for non-landed
private homes fell month-on-month in January
from the previous month. On the other hand,
the overall median transaction over X-value
remained at a negative $10,000. Also, the
overall resale price index for non-landed
properties fell by 0.2 percent month-on-month
in January. Eugene Lim from ERA Real
Estate predicts that this downwards trend will
persist for the rest of the year. He believes
that non-landed private home resale prices
may fall by a total of 5 to 8 percent this year,
with homes in the core central region taking
the biggest hit. According to data from SRXs
flash estimates, the resale price of nonlanded private homes in the core central
region and outside central region had indeed
fallen by 1.7 percent and 1.1 percent
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respectively in January from the previous

month. Nonetheless, prices in the rest of
central region had increased by 1.5 percent.
Data from URA also showed that the vacancy
rate for non-landed private homes had
increased by 2 percent year-on-year in Q4
2014 from 2013. Nonetheless, market experts
believe that resale volumes will increase in
February, said the Business Times.

(Source: Business Times)

Site at Sturdee Road released for tender
A 99-year private housing site at Sturdee
Road has been released for tender by URA.
The 0.6-hectare site is located near City
Square Mall and Farrer Park MRT Station. It
can be developed into a 30-storey high
project that can house 265 units. The tender
for the Sturdee Road site will close on March
24.
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SINGAPORE PROPERTY WEEKLY Issue 195

Market experts predict that there will be
between three and fifteen bids. They believe
that the top bid for this site would be around
$700 psf ppr, or about $161.2 million.
Nicholas Mak from SLP International believes
that the weak residential property market may
push down bid prices. His views are echoed
by Ong Teck Hui, JLLs national director, who
said that developers may be more cautious
due to the weak market sentiments.
Nontheless, Desmond Sim said that the site
is located in an emerging trendy enclave.
(Source: Business Times)
New guidelines allow more flexibility to
design landed homes
According to the new guidelines by the URA,
home owners and developers will have
greater flexibility to design landed homes,
starting from May 11. Currently, landed
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homes
must
follow
to
floor-to-floor
dimensions and basement protrusion limits
set by URA. However, with the new ruling,
home owners and developers will have
greater flexibility when it comes to the internal
configuration of their homes. Desmond Sim
from CBRE said that this will allow home
owners to be more creative with their home
designs. Nonetheless, under the new
guidelines, three-storey homes may not be
higher than 15.5 meters in total, down from
17.7 meters. On the other hand, two-storey
homes should not be more than 12 meters
tall. This is about 2.1 meters lower than the
current standard. While this new guideline will
be applicable to all landed properties, it will
only be enforced for new erections and
reconstruction works.
(Source: Business Times)

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SINGAPORE PROPERTY WEEKLY Issue 195

Loan eligibility letter needed prior to
booking HDB flat
According to HDB, applicants of Build-toorder (BTO) flats intend to take up loans from
HDB, will have to produce a valid HDB loan
eligibility letter when they book a flat.
Previously, potential flat buyers are only
required to produce the loan eligibility letter
when they sign the agreement for lease.
According to HDB, this new move will help
home buyers better plan their finances.
Eugene Lim from ERA Real Estate agrees
with his move as it will ensure that potential
home buyers are not overstretching their
finances. Lim also believes that this move
may encourage buyers to consider resale
flats when they find out that they qualify for a
higher loan quantum.
(Source: Business Times)

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Commercial
First integrated industrial development
launched by JTC

JTC recently launched JTC Space @ Tuas,

the first integrated industrial development in
Singapore. The development consists of
different factory space types and supporting
facilities, to cater to firms in the oil and gas;
precision
engineering
and
general
manufacturing industries. The 10-storey
development is about 6.4 hectares large and
has a total of 128,000 sqm of industrial
space. The integrated industrial development
also has an on-site dormitory that can house
1,300 workers. Not only so, the development
will include facilities such as a supermarket
and retail outlets. Lim Hng Kiang, Minister for
Trade and Industry believes that such a
development will improve the productivity of
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SINGAPORE PROPERTY WEEKLY Issue 195

firms and their manufacturing process.
(Source: Business Times)
Bids for Woodlands EC site lower than
expected
An EC site at Woodlands has attracted bids
that are lower than expected, according to the
Business Times. The site was won by a top
bid of $277.98 psf ppr. According to Ong Teck
Hui from JLL, the slow EC sales may have
dampened developers sentiments. To remain
competitive in spite of lower demands for EC
units, developers may have to bid more
conservatively, said Ong. According to the
Business Times, the Woodlands EC site will
be developed into a 300-unit project. Nicholas
Mak from SLP International believes that the
developers breakeven cost will be between
$600 and $640 psf.

Singapore leads
growth in 2014

Asia

Pacifics

office

According to JLL, Singapore has one of the

strongest growths in Asias office rental
market, as the nation experienced an
increase of 14.9 percent in 2014 from 2013.
Last year, Singapore is the third most
expensive locality, after Hong Kong and
Beijing,
said
the
Business
Times.
Nonetheless, JLL predicts that rental growth
will fall by H2 this year as the supply of office
spaces increases. Growth in the office rental
market slowed to 0.9 percent in Q4 last year,
compared with 3.5 percent in Q3, said JLL.
Nonetheless, rising operating costs and a
weakened demand for retail sales is expected
to affect office rents.
(Source: Business Times)

(Source: Business Times)

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SINGAPORE PROPERTY WEEKLY Issue 195

Non-Landed Residential Resale Property Transactions for the Week of Jan 28 Feb 3
Postal
District
1
2
4
4
5
5
8
9
9
9
9
10
10
10
10
11
11
11
11
12
12
13
14
14
14
15

Project Name
MARINA BAY SUITES
THE BEACON
THE COAST AT SENTOSA COVE
THE PEARL @ MOUNT FABER
REGENT PARK
DOVER PARKVIEW
KERRISDALE
HILLTOPS
CAIRNHILL RESIDENCES
SCOTTS 28
THE COSMOPOLITAN
CUSCADEN RESIDENCES
CUSCADEN RESIDENCES
PARVIS
D' DALVEY
RESIDENCES @ EVELYN
NOVENA LODGE
WATTEN ESTATE CONDOMINIUM
PAVILION 11
VETRO
OLEANDER TOWERS
AVON PARK
SUITES @ SIMS
WATERBANK AT DAKOTA
STARVILLE
THE SHORE RESIDENCES

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Area
(sqft)
2,067
1,109
2,626
2,347
807
936
990
1,335
1,238
1,098
1,399
1,485
1,496
1,991
958
2,250
872
1,001
4,219
614
1,152
1,281
377
883
1,238
893

Transacted
Price ($)
4,450,000
1,525,000
3,125,000
2,388,000
869,800
960,000
1,190,000
4,200,000
2,750,000
2,250,900
2,658,100
3,150,000
3,000,000
3,900,000
1,450,000
3,900,000
1,130,000
1,201,200
4,980,000
755,000
1,100,000
1,600,000
615,000
1,380,000
1,220,000
1,370,000

Price
Tenure
($ psf)
2,153
99
1,375
99
1,190
99
1,018
99
1,077
99
1,025
99
1,202
99
3,147
FH
2,222
FH
2,050
FH
1,900
FH
2,121
FH
2,005
FH
1,958
FH
1,514
FH
1,734
FH
1,296
FH
1,200
FH
1,180
FH
1,231 999
955
99
1,249
FH
1,632
FH
1,563
99
986
FH
1,533 103

Postal
District
15
15
15
15
15
15
16
18
19
19
19
19
20
20
21
21
21
21
23
23
23
23

Project Name
THE WATERSIDE
PEBBLE BAY
VERSILIA ON HAIG
FINLAND GARDENS
PEBBLE BAY
MANDARIN GARDEN CONDOMINIUM
EAST MEADOWS
THE TROPICA
GLASGOW RESIDENCE
RESIDENCES @ JANSEN
RIVERVALE CREST
N.A.
GOLDENHILL PARK CONDOMINIUM
RAFFLESIA CONDOMINIUM
THE CASCADIA
THE CASCADIA
CHARISMA VIEW
CLEMENTI PARK
HILLINGTON GREEN
THE WARREN
MI CASA
NORTHVALE

Area
(sqft)
2,400
2,626
1,227
1,324
1,808
1,572
1,195
990
463
1,615
1,442
1,722
1,539
1,302
883
990
657
1,163
990
1,259
1,259
1,087

Transacted
Price ($)
3,380,000
3,650,000
1,528,800
1,588,800
1,930,000
1,380,000
1,130,000
828,000
660,000
1,285,000
980,000
910,000
2,030,000
1,400,000
1,430,000
1,550,000
770,000
1,120,000
1,040,000
1,068,000
1,050,000
810,000

Price
Tenure
($ psf)
1,408
FH
1,390
99
1,246
FH
1,200
FH
1,067
99
878
99
946
99
836
99
1,426 999
796
999
679
99
528
103
1,319
FH
1,075
99
1,620
FH
1,565
FH
1,173
FH
963
FH
1,050 999
848
99
834
99
745
99

NOTE: This data only covers non-landed residential resale property

transactions with caveats lodged with the Singapore Land Authority.
Typically, caveats are lodged at least 2-3 weeks after a purchaser
signs an OTP, hence the lagged nature of the data.
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