Issue 137

Copyright 2011-2013 www.Propwise.sg. All Rights Reserved.

CONTENTS
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How a Good Property is Like a
Blissful Marriage Singapore Property News This Week Resale Property Transactions (December 18 December 24)

FROM THE

EDITOR

Welcome to the 137th edition of the Singapore Property Weekly. Hope you like it!

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SINGAPORE PROPERTY WEEKLY Issue 137

How a Good Property is Like a Blissful Marriage

By Property Soul (guest contributor) Tonight while flipping through the local TV channels in my hotel room somewhere in Taiwan, I came across a variety show with the hosts and guests sharing their views on 'what makes a blissful woman'. The blissful marriage A local celebrity backed her argument with a thought-provoking remark, (What women really want is not to be able to get married, but to be married to a good husband.) What a quote! It really speaks the mind of the modern woman.

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SINGAPORE PROPERTY WEEKLY Issue 137 How difficult is it to find a man and tie the knot? If you are not picky, you can basically marry anyone from anywhere at any time. However, what women really want is to spend their life with a 'good' husband --- a man who is loving, caring, respectful, faithful, responsible and also a good provider. And you need that experience, wisdom and maturity to see that these qualities exist in a man. It is only through the advice of a mentor, the mistakes of others, or the past lessons you learned that you finally understand that getting married doesn't guarantee happiness hereafter; that falling in love and living with the person are two different things; that marriage and blissfulness are two separate matters. If there is a probability formula of a blissful
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marriage, it may have one-third depending on the husband, another one-third resting with the wife, and the last one-third counting on compatibility and fate. Of course, picking the good versus the bad guy is a critical factor here. The good property While browsing the new titles in a bookstore today, I flipped through a book written by a successful property investor. The author has a similar advice for property buyers, (Property investment is not just buying the property, but being able to make a profit from it.) How difficult is it to buy a private property? You can step into a sales gallery and book a unit in an hour's time.

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SINGAPORE PROPERTY WEEKLY Issue 137 You can leave a cheque with a property agent to ballot for a unit on your behalf. You just put down a deposit and you can call the property your own. It is almost a no-brainer if you are happy with buying anything at any price in any market. And when the market is good, everyone makes money from properties. How can you not be able to drift forward when you are riding the tide, with the wind and waves in your direction? But do you really know what is a good location or a good project? Can you tell units with good facing, layout and feng shui from the bad ones? Do you know how to pick a good property that guarantees a handsome profit the moment you buy? Can your unit still fetch a good rent even when the rental market is soft? Do you see why a good property can generate positive income regardless of a bull or bear market? The true measure of success After all, the success of property investors is not measured by how well they do when times are good, but how they perform when times are bad.

It is only through years' of experience, the lessons of others, or the losses you made, that one day you finally realize that buying a property doesn't necessarily guarantee a profit at the end; that buying a property and investing in a profitable one are two separate things; that speculators and professional investors are two different species.

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SINGAPORE PROPERTY WEEKLY Issue 137 If there is a probability formula of finding a good deal, it may have one-third from the buyers insight, another one-third to do with the buyer's discipline (hard work, patience, persistence, etc.), and the last one-third counting on market conditions and opportunities. And of course, buying the right property at the right time makes all the difference. By guest contributor Property Soul, a successful property investor and enthusiast who shares her experiences and knowledge on her blog.

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SINGAPORE PROPERTY WEEKLY Issue 137

Singapore Property This Week

Residential
Wheelock unveils condo The Panorama in Ang Mo Kio Wheelock Properties has unveiled the condo project The Panorama in Ang Mo Kio Avenue 2, its first 99-year suburban condo project in Singapore in two decades. The development has 698 units in six blocks - two 20-storey blocks, four 17-storey blocks with two levels of basement car parks, and a three-level clubhouse. The sales bookings are expected to begin around Jan 17-18. Wheelock has declined to reveal prices, while agents have quoted absolute prices from under $700,000 for a 430-sq ft one-bedroom apartment on the ground floor, to more than $3 million for a five-bedroom penthouse of 2,400 sqft with nice views of Lower Peirce Reservoir. (Source: Business Times)

HDB resale flat prices continue to fall

Resale prices for Housing and Development Board (HDB) flats were reported to continue to fall in Q4 2013. Property consultants believe this trend is unlikely to reverse, and is influenced by a convergence of measures to cool the market and a continued supply of new flats. HDB flash figures showed that the resale price index in Q4 2013 was 202.1,

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SINGAPORE PROPERTY WEEKLY Issue 137 which is a 1.3 percent decrease from Q3 2013, and the second consecutive quarter of declining prices. The index also fell 0.9 in Q3 2013, the first contraction since 2009. (Source: Business Times) Mass-market condo prices begin to ease Prices of mass-market private condos have eased for the first time since Q2 2009 after the global crisis. Prices of landed homes also declined for the first time since Q2 2009. The Urban Redevelopment Authority (URA)s latest flash estimates show that overall private housing price index declined 0.8 percent quarter on quarter in Q4 2013, against a 0.4 percent increase in Q3 2013. Most property consultants expect the index to decrease on a full-year 2014 basis with predictions from one percent up to 10 percent. Private home prices were negatively
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affected by the Total Debt Servicing Ratio (TDSR) framework, weaker HDB resale flat prices, and a significant supply of nearly 20,000 private homes until end of 2014. (Source: Business Times) Worst performance developers on STI for Singapore

As property curbs drove home sales lower and slowed price gains, Singapores developers witnessed the worst performance on the benchmark Straits Times Index 2013. The Singapore property index decreased 10 percent this year, after last years 48 percent increase. Property stocks in Singapore, the most-expensive city to buy a luxury home in Asia after Hong Kong, may further weaken in 2014 after the government took measures to cool prices.

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SINGAPORE PROPERTY WEEKLY Issue 137 Home sales may decline 10 percent, while prices are expected to drop for the first time in two years. (Source: Business Times) HDB to build fewer larger flats and more two-room BTO flats As the Housing and Development Board is transitioning to a more sustainable Build-ToOrder (BTO) flat supply, larger HDB flats will be cut back by 18 percent, while the number of two-room flats will be doubled in 2014. Particularly, the supply of new three-room and larger flats from 22,600 units in 2013 will be reduced to 18,600 next year. The number of two-room BTO flats in non-mature estates will be increased from 2,600 in 2013 to 5,000 in 2014. 700 Studio Apartments will also be offered for the needs of seniors looking for the right size. The shift takes into
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consideration the high demand for singles, at 27.1 times at the latest November exercise, which was shared by National Development Minister Khaw Boon Wan in one of his blog post. (Source: Business Times) Twentyone Angullia Park expensive condo in 2013 is most

Data from Singapore Property Watch shows that the freehold Twentyone Angullia Park has topped the list as Singapores most expensive condominium, at an average selling price of $5,181 psf. The 54-unit condos average selling price hit an all-time high in June at $5,560 psf, and then declined to an all-time low of $4,704 psf in August. Coming at second place is Skyline@ Orchard Boulevard, as its units were transacted at an average selling price of $4,230 psf.
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SINGAPORE PROPERTY WEEKLY Issue 137 The third most expensive condo is freehold The Marq on Paterson Hill, of which one 3,089 sq ft unit was transacted at $4,046 psf. In addition, the most viewed condominiums in 2013 are Ripple Bay in Pasir Ris, Waterbay an executive condominium in Punggol, and Urban Vista which is located at Tanah Merah Kechil Road. (Source: Business Times) Overall SRPI increases 0.6% year-to-date According to the latest figures from the National University of Singapore (NUS), the Overall Singapore Residential Price Index (SRPI) for 2013 has increased 0.6 percent since December 2012, compared with 4.2 percent for full-year 2012, 8.7 percent for 2011 and 11.7 percent for 2010. This shows that prices of completed non-landed private homes have risen at a slower pace year-toBack to Contents

date in 2013 than they did for 2012. Separately, DTZs analysis shows that the volume of private residential transactions in the resale market in 2013 decreased 51.1 percent to 6,465 from 13,214 in 2012. Subsale transactions also fell 58.1 percent to 1,032 year-to-date from 2,464 in 2012. (Source: Business Times) Commercial Westin Singapore hotel sold for $468 million One month after its official opening, the 305room, 99-year leaseholdWestin Singapore hotel has been sold for $468 million toDaisho Group, a Japan-based property developer and investor. The price translates to $1.5 million per room, a new record for a hotel in Singapore.

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SINGAPORE PROPERTY WEEKLY Issue 137 The seller of the transaction is a fund managed under MGPA, a private-equity property investment advisory firm which at first asked for $2 million per room, or about $610 million in total.Daiso Development Singapore is reported to acquire the hotel because of its location (it is located in Asia Square Tower 2 at Marina Bay), and the groups view on room demand in the area. period for industrial properties on JTC-leased sites, and an extension of the minimum occupation period for anchor tenants from Nov 15.Chia Siew Chuin, head of research and advisory at Colliers International, said these measures helped to slow the real estate cost of industrialists. The Urban Redevelopment Authority data shows that industrial real estate prices in Q3 2013 increased 2.8 percent from Q2 2013, lower than the 8.9 percent quarterly growth over 2012. (Source: Business Times) Non-residential en bloc still gains interest As preference for residential deals dwindle due to the various cooling measures, the revived interest in commercial and industrial en bloc sales is reported to persist in 2014. In 2013 which was a great year for
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(Source: Business Times)

2014 to be a quieter year for industrial property After an eventful 2013, 2014 is expected to be a quieter year with subdued activity for the industrial property market with unlikely largescale changes. The property measures in 2013 include the Seller Stamp Duty in January, and the Total Debt Servicing Ratio framework in late June. A longer holding
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SINGAPORE PROPERTY WEEKLY Issue 137 non-residential collective sales, there were about $675.4 million worth of successful commercial and industrial en bloc sales, compared with $116.4 million in 2012 and $126.8 million in 2011. In addition, Serangoon Plaza was sold for $400 million in November, and industrial en bloc sales became a new trend. Guang Ming Industrial Building was the largest deal at $45.8 million. (Source: Business Times) Signs show property auction market has rebounded There have been positive signs which suggest that the property auction market has rebounded.According to data from Jones Lang LaSalle,the total sales value for 2013 increased 69.5 percent to hit $99.6 million, compared with $58.7 million in 2012, despite the total number of successful auctions decreasing from 26 in 2012 to only 21 in 2013. However, the Singapore auction market in Q4 2013 registered a total of $3.9 million in sales closed, which decreased 15.1 percent from Q3 2013 of $4.6 million. The total sales quantum of $99.6 million in 2013 was also 23.9 percent below the five-year average of $130.8 million, and 45.9 percent below the 10-year average auction sales value of $183.9 million. The quiet auction market in H2 2013 could be due to the credit tightening measures of the total debt servicing ratio and the additional buyers' stamp duty which deterred investors. (Source: Business Times)

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SINGAPORE PROPERTY WEEKLY Issue 137 Sun Venture-LKH tie-up buys Westgate Tower for $579.4m Sun Venture Homes has teamed with Low Keng Huat (Singapore) for a 60:40 tie-up to buy the 99-year leasehold Westgate Tower in Jurong Gateway from CapitaLand, CapitaMalls Asia and CapitaMall Trust for $579.4 million, or $1,900psf based on its net saleable area of 304,963 sq ft. Managing director of Sun Venture Group, Alvin Teo said that the plan is to hold the asset long term for rental income. The 20-storey office tower is slated to receive Temporary Occupation Permit by year end. A marketing agent will be appointed soon to find tenants for the tower. (Source: Business Times)

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SINGAPORE PROPERTY WEEKLY Issue 137

Non-Landed Residential Resale Property Transactions for the Week of Dec 18 Dec 24
Postal District 1 3 3 4 4 5 5 5 5 9 9 9 9 10 10 10 10 10 10 10 11 14 15 Area (sqft) 1,528 1,119 1,292 1,335 1,582 850 1,259 1,507 2,293 2,831 2,002 2,530 2,583 592 2,314 2,314 2,594 1,345 1,744 3,154 1,076 1,615 990 Transacted Price ($) 2,610,000 1,570,000 1,730,000 2,630,000 2,300,000 958,000 1,325,000 1,565,000 2,050,000 10,668,000 6,530,000 6,088,000 2,900,000 1,213,208 3,587,000 3,471,000 3,700,000 1,840,000 2,000,000 2,820,000 1,600,000 1,535,000 1,485,000 Price Tenure ($ psf) 1,708 999 1,402 99 1,339 99 1,970 99 1,454 99 1,127 99 1,052 99 1,039 FH 894 99 3,768 FH 3,262 FH 2,407 FH 1,123 99 2,049 FH 1,550 FH 1,500 FH 1,426 FH 1,368 99 1,147 999 894 999 1,486 FH 951 FH 1,500 FH

Project Name EMERALD GARDEN MERAPRIME CENTRAL GREEN CONDOMINIUM THE AZURE CARIBBEAN AT KEPPEL BAY WEST BAY CONDOMINIUM FABER CREST TREASURE PLACE VARSITY PARK CONDOMINIUM THE RITZ-CARLTON RESIDENCES SINGAPORE CAIRNHILL HELIOS RESIDENCES GRANGE INFINITE HORIZON TOWER THE MONTANA THE TRIZON THE TRIZON HOLLAND PEAK DUCHESS CREST RIDGEWOOD DUCHESS MANOR THE SPRINGS CITY PLAZA ARTHUR 118

Postal District 15 15 15 16 16 18 19 20 21 21 21 22 27

Project Name OCEAN PARK VILLA MARTIA WATER PLACE THE CALYPSO CASCADALE DOUBLE BAY RESIDENCES REGENTVILLE GOLDENHILL PARK CONDOMINIUM GARDENVISTA SYMPHONY HEIGHTS SUMMERHILL THE LAKESHORE THE ESTUARY

Area (sqft) 2,110 1,249 1,389 1,119 1,302 1,367 1,152 1,335 861 958 947 1,141 1,313

Transacted Price ($) 2,750,000 1,520,000 1,600,000 1,190,000 1,020,000 1,530,000 958,000 1,870,000 1,145,000 1,130,000 1,100,000 1,230,000 1,408,000

Price Tenure ($ psf) 1,303 FH 1,217 FH 1,152 99 1,063 FH 783 FH 1,119 99 832 99 1,401 FH 1,330 99 1,180 FH 1,161 FH 1,078 99 1,072 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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