Showing posts from November, 2009

Marina Bay Suites sells fast; let the good times roll

As posted in on 25 Nov 2009 by Francis We are getting some unconfirmed reports on the ground that Marina Bay Suites is moving fast and that there is quite a crowd at the sales gallery. The prices were lower than expected and start from ~$18xx psf. Units on the lower floors were released first, although it seems more have been made available due to good response. It seems at least one stack was said to have been sold out by mid afternoon. If the good times keep rolling for the rest of the day, we expect around half a billion dollars or more to have exchange hands on paper at the Marina Bay today . Some property enthusiasts online have even compared this 'feeling' with the 2007 bull run, which started at the same place in late 2006. So the much awaited Marina Bay Suites which was held back for a year or two will finally preview tomorrow. Word on the street is that this launch is very closely watched by key industry players, as sales performance for

Capital Gains to EC owners

CBRE: Executive Condo median prices rise 63 per cent As posted in on 24 Nov 2009 by John According to CBRE, the median prices of Executive Condos (EC) have risen a whopping 63% over the past two years. Median resale prices for ECs in 2009 were at $519 psf compared to Q3 2006 when it was at $319 psf. Helped no doubt by the property boom this year. The owners of ECs like La Casa will surely have a very big smile on their faces! It seems that ECs are worth a second look! There will be two EC plots of land on the confirmed list next year. Read on to find out where they are. One of them will be in Yishun Avenue 11 (which will surely give The Estuary a huge run for their money) and the other at Buangkok Drive/Compassvale Bow. Keep a look out for tenders coming up in the first half of next year. Find their exact locations . ECs are a sort of HDB/Condo hybrid, similar to DBSS but with more strings attached. They were built to bridge the gap between condos and HD

Property Launches Preview of Marina Bay Suites

Marina Bay Suites finally launching As posted in on 29 Oct 2009 by Francis Note: The Sail's two towers have been omitted in this rendering... It seems like the luxury Marina Bay Suites is finally launching after almost 2 years. Sources have confirmed that agents will be briefed about the project before the week ends. This project first came under our radar in early 2008 when we received early plans of the development. Additionally, there have been some murmurs recently going on about reconfiguration of Marina Bay Suites to accommodate 2BR units or even Studios. While these are all just rumors (until we confirm it!), it does seem to make a little sense for the developers to cash in on the "Mickey Mouse" fever we have seen lately. The original plan was for 110 4BR units, 108 3BR units and 3 penthouses (221 total ) as seen below: Original project details (Jan 2008): Marina Bay suites is located just south of the sail (left bottom) and east of

Adria in District 11 for the expats

Adria from FEO launching soon As posted in on 19 Nov 2009 by Francis Far East Organization seems to be defying the market sentiment and launching the Adria. But perhaps the right time to move in is when everything is all quiet! There are few details about the Adria, but what makes it yummy is it's Freehold status in prime District 11, just off Orchard Road. For the uninformed, District 11 is a well-known fishing pond for corporate leases to expats. Facilities: 28M Lap Pool Spa Pavilion Lounge Pool Spa seats Sunbathing Deck Water Pavilion Garden Pavilion Gymnasium Artist's impression of the lobby. Siteplan of the Adria. .

Singapore declares recession over

Singapore on Thursday declared a severe recession over as data showed its economy grew for the second straight quarter in the three months to September. Official data released Thursday showed gross domestic product (GDP) expanded 14.2 percent in the July-September period on a quarter-on-quarter annualised basis following a 21.7 percent surge in the previous quarter. "Effectively, the recession in Singapore is over," Ravi Menon, the permanent secretary with the Ministry of Trade and Industry (MTI), said at a media briefing. Year-on-year, Singapore's GDP grew 0.6 percent in the third quarter compared with a 3.3 percent contraction in the April-June period, the MTI said in its third quarter economic survey. In its outlook for 2010, the ministry forecasted economic growth of 3.0-5.0 percent while maintaining its existing projection of a contraction of 2.0-2.5 percent this year. Singapore's trade-reliant economy was the first in Asia to sink into a recession last

HDB 4-room Flat for S$653,000.00

Record $673 per square foot for Queenstown HDB flat As posted in on 13 Nov 2009 by Francis An Indonesian Permanent Resident (PR) and a Singaporean woman paid $674 per square foot (psf) or $653,000 in total for a 4rm flat in Queenstown. This breaks the earlier record of $609psf made in January 2008. Are we surprised? Nope. With the flexible PR policy, lack of immediate supply, skyrocketing mass market condo prices and most importantly location...this was bound to happen sooner or later. The unit is found along Strathmore Avenue, and if you are wondering why it sounds so familiar...that's because it is shares the same street address as the much anticipated Dawson Build-To-order next month . Even if we exclude the $68,000 cash-over-valuation, we are guessing the previous owners would still have made a killing from the difference of the original don't say we didn't tip you on whats hot! ( Editor: Application for TOTO BTO is only $10...

Land Parcel Upper Thomson winner revealed

As posted in on 9 Nov 2009 by John Upper Thomson land parcel winner revealed We should have known there was a Hong Kong hand behind the bid. Just look at the bid numbers - 251338668. The bidder, Treasure Well Investments, is actually a unit of Cheung Kong Holdings , which belongs to - who else - Hong Kong's richest tycoon Li Ka-Shing. If you've been hiding under a rock, Li Ka-Shing is one of the world's richest men ( #16 at $16.2 billon ). Singapore's richest - Far East's Ng Teng Fong - is at #118 with a paltry $6.1 billion . No wonder Far East lost the bid (they were second)! The question is: are they overpaying? Their bid was a good 21.5% over Far East's. Are they flush with funds thanks to the property boom in China and Hong Kong? Maybe. But we think the answer is simpler: they have better feng-shui masters. As you know Cheung Kong's bid was a nice $251,338,668.00. It shows far greater detail and thoughtfulness, all the way do

Property Launches Parvis at Holland Hill

Preview 1st week November 2009 As posted in on 10 Oct 2009 by Francis Located at Holland Hill, off Holland Road and Queensway, Parvis (formerly known as Holland Hill Mansion) boasts a popular address well-received by both locals and expatriates. Nestled in a quiet neighbourhood in the desirable district 10, the residential redevelopment of this well-located purchase parcel is one to look out for! This prime lot is highly accessible via major trunk roads, such as Holland Road, Queensway and Farrer Road. Potential residents can also look forward to ready MRT access with the completion of nearby Circle Line Stations, Farrer MRT Station and Holland MRT Station, expected to be in operation by 2010. Prestigious schools such as Anglo Chinese School International and St. Margaret’s Secondary School are also situated in close proximity. Urban comforts are also a short ride away, with Holland Village and Orchard Road offering a variety of exclusive lifestyle indulgences. Parvis a

Foreigners are buying again

As posted in on 5 Nov 2009 by John More foreigners buying our private homes Savills Singapore has confirmed what most of us already know by now - foreign buyers are on the rise. According to their research, foreigners (including PRs) bought 22.7% of homes during July-Sept this year. A huge increase from the 15.2% recorded in Jan-Mar this year. Not only that, China has overtaken India as the 3rd largest group of foreign buyers after Malaysia and Indonesia. Malaysian and Chinese buyers favoured homes under $1m, while Indonesians preferred more expensive homes ranging from $1.5m to $5m. Favourite among the buyers are Sophia Residence, Caribbean at Keppel Bay, Ascentia Sky, One Devonshire and Viva (looks like the Indonesians were cashing in on our low low prices). According the Straits Times, Jones Lang LaSalle’s head of residential, Ms Jacqueline Wong, said the firm has had rising interest from new potential buyers from India, China and Russia in the past four