Issue 366

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 CONTENTS FROM THE

p2 The 3 Best Kept “Secrets” in the

EDITOR
Welcome to the 366th edition of the
Singapore Property Weekly.
Singapore Property Market
Hope you like it!
p9 Resale Property Transactions
Mr. Propwise
(July 9 – July 13)

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 SINGAPORE PROPERTY WEEKLY Issue 366

The 3 Best Kept “Secrets” in the Singapore

Property Market
By Property Soul (guest contributor)

Have you come across a hidden gem in the

property market shared by someone from the
industry? Did anyone tell you that he knows
the best kept secret about a high return
investment project? When was the last time
somebody said he has insider news and told
you to buy a stock that’s going to go up?

Well, I hope you didn’t pick up too many of

those top buys in the stock market recently. It
looks like the bull market is changing its
direction now.

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 SINGAPORE PROPERTY WEEKLY Issue 366
Are we officially in a bear market now?
In barely two weeks’ time, the bullish tone of
financial institutions and finance media
suddenly turned bearish.
“Goldman Sachs: Weak stock market returns
are ahead even with booming earnings” –
CNBC
“Investors are fleeing the financials at the
highest rate in years” – CNBC
“Bear Market in Stocks, Weak Yuan Show
China Problems Piling Up” – Bloomberg
“Trade War Hits Stocks as $8 Trillion in Bear
Market: Inside EM” – Bloomberg
In Singapore, stocks tumbled to 9-month low
after Trump and Xi exchanged new tariff
threats. The Hong Kong stock market was
more seriously hit. The Shanghai Composite
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Index fell 20 percent from the peak.
Bloomberg saw 18 out of 24 currencies
dropping. The worst hit emerging countries
include China, Philippines, Brazil, Pakistan,
Dubai and Turkey. Jonathan Garner, Morgan
Stanley’s Chief Asia and Emerging Markets
Strategist concluded, “This is a dangerous
market. We now think we’re heading to an
outright bear market.”
How does a stock market crash affect
property prices?
Blame it on the World Cup. It is a big
distraction from the financial market. In 2014,
the European Central Bank found a 45
percent drop in trading volume during
matches. It fell 55 percent when the home
team was playing.
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 SINGAPORE PROPERTY WEEKLY Issue 366
Blame it on the trade war. Who knows the
actual scale of economic impact on the rest of
the world when the two biggest countries are
trying to impose more tariffs on each other?
There are more factors to blame: Fed rate
hikes, escalating oil prices, rising US budget
deficit …
But these are only immediate causes to
shoulder the blame.
The underlying reasons, as I pointed out in
my blog post “When is the next market
crash?”, are higher interest rates putting high
pressure on the borrowers and the Fed’s
unwinding of its sizable bond portfolio in the
open market.
How would it affect the property market?
In Singapore, equities and properties are the
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two most popular investment tools. If stock
prices continue to slide, investors have to
cover their margin calls and pay back the
stock brokers. They have to dispose their
properties to cover the losses in stocks.
Selling a property requires considerable time
to find a buyer. After that, there is another 12
weeks to complete the sale transaction.
That’s why there is a lead time of 3 to 6
months between the stock market crash and
the slump of property prices.
Are you infected by the optimism of
vested stakeholders?
Be it equities or real estate, there is nothing to
worry about if you are not overleveraged in
your investments. Especially when you are
constantly reminded in this blog “to be fearful
when others are greedy”.
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 SINGAPORE PROPERTY WEEKLY Issue 366
Amid mixed property market signals, I hope
you still stay sensible to tell real facts from
wild predictions.
We can give licences to property agencies
and their agents. But we cannot regulate the
fortune telling industry. There are many
untrained fortune tellers in this market. They
are free to approach customers and speak to
the media about their market forecast based
on gut feel and confirmation bias.
Unfortunately, the media is always the worst
predictor of what is going to happen next. But
since fortune tellers are not certified by any
authority, no one will be held responsible for
any consequences.
Time passes and things look up again, with
mishaps of the victims bygone and mistakes
of fortune tellers forgotten. The same
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prophecies come up once again in the
market.
How did they tell you their best kept
secret?
It’s nothing creative. They keep repeating
three sayings to sell you rare investment
opportunities and hidden gems in this market.
“Secret” #1 – Prices will continue to go up
This time it’s going to be different. Prices
won’t come down and will only go up higher
for many years to come.
Is there anything in this world that will forever
go up and never go down?
Try saying this to children queuing for the
giant rollercoaster or passengers preparing to
board a flight. You sure can scare the hell out
of them.
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 SINGAPORE PROPERTY WEEKLY Issue 366
Remember, the only thing in this world that
won’t go down is: your age. Let me add one
more thing: the growing number of
speculators before a market crash.
For speculators, history doesn’t have any
educational value. They suffer big losses
every time the market crashes.
“Secret” #2 – This is the best thing to buy
now
Everyone understands the importance of
making hay while the sun shines and to do
the right thing when the tide is in your favor.
You believe the analysts have the right set of
data, have done their research and made
logical conclusions. The developer, agency
and your agent are all telling you that this is
the property to buy now. Who cares to look at
the raw data, run your independent analysis
and come up with your own conclusion?
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Singaporeans like to believe in luck: I am
lucky. They are lucky. You can be lucky too.
Let’s all jump on the bandwagon and make
money together.
The fact is: Ordinary people have limited luck
but like to believe that they are lucky. The
market is a monster that makes unlucky
people feel they are lucky this time, not
knowing that they are going to be broke soon.
The market tends to make us look foolish
most of the time, doesn’t it?
“Secret” #3 – This is going to take over
the world in the future
Many scammers are making use of our
worship of fashionable technologies to talk us
into buying a highly profitable future product.
It is sad to see powerful future technologies
invented for a good cause are being
manipulated into an engine of speculation.
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 SINGAPORE PROPERTY WEEKLY Issue 366
Cryptocurrency is a great concept before
speculators rushed to join the craze that
resulted in a big price correction. (Read my
earlier post on “Lessons learned from the fall
of bitcoin”.)
Crowdfunding is an excellent financing
platform to raise funding from like-minded
people to accomplish meaningful projects.
But con artists are taking advantage of the
unregulated market to run scams and ponzi
schemes that profit their own pockets.
Blockchain will definitely take over in the
future. Last year, two proptech companies
FundPlaces and Reidao used blockchain
platforms to create property-backed
tokens. The Monetary Authority of Singapore
immediately issued “buyer beware” warnings
to caution investors that such property-related
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blockchain platforms may be used for criminal
activities.
Fintech is an indispensable word in any new
financial start-up. KPMG said fintech funding
in Singapore hit a record US$229 million last
year. In early December, around 1,000 people
lost millions to local fintech start-up SixCapital
or SixCap that promised returns up to 18
percent a year.
When will investors share their genuine
best kept secret?
I said this in my book No B.S. Guide to
Property Investment and let me repeat it
again here:
“Till this day I have yet to know anyone who
really became a millionaire by joining any
unproven get-rich-quick program or investing
in any high-return overseas venture.
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 SINGAPORE PROPERTY WEEKLY Issue 366

And I personally have not met any successful
investor who lets slip of what new business
opportunity he is currently exploring, except
for the few partners he trusts.”
So don’t come and ask me what I am
researching to invest in next. In my blog, I will
only warn you all the hidden traps in this
market. Like other savvy investors,
investment opportunities and hidden gems
are very personal and we exchanged notes
with very close investor friends only.
Let me summarize three reasons why people
won’t hold back their best kept “secret” and
voice it in public.
Reason #2: When they themselves are also
following the herd, like parrots repeating what
everyone is saying.
Reason #3: When they are being possessed,
not by the bank after declared a bankrupt, but
by some supernatural force or evil spirits.
Any more best kept secret to share in this
market?
By guest contributor Property Soul, a
successful property investor, blogger, and
author of the No B.S. Guide to Property
Investment.

Reason #1: When they are representing their

company or their client, and receive their pay,
reward and commission from them.

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 SINGAPORE PROPERTY WEEKLY Issue 366

Non-Landed Residential Resale Property Transactions for the Week of Jul 9 – Jul 13

Postal Area Transacted Price Postal Area Transacted Price

Project Name Tenure Project Name Tenure
District (sqft) Price ($) ($ psf) District (sqft) Price ($) ($ psf)
1 MARINA BAY RESIDENCES 1,981 5,600,000 2,827 99 8 TYRWHITT 139 366 618,000 1,689 FH
1 THE SAIL @ MARINA BAY 614 1,360,000 2,217 99 8 CITY SQUARE RESIDENCES 861 1,440,000 1,672 FH
1 THE SAIL @ MARINA BAY 1,647 2,800,000 1,700 99 9 SCOTTS SQUARE 635 2,360,000 3,716 FH
3 THE CREST 947 2,128,000 2,247 99 9 URBAN RESORT CONDOMINIUM 4,715 13,900,000 2,948 FH
3 THE CREST 1,023 2,243,000 2,193 99 9 MARTIN PLACE RESIDENCES 592 1,458,000 2,463 FH
3 THE CREST 1,701 3,729,000 2,193 99 9 THE COSMOPOLITAN 1,324 3,180,000 2,402 FH
3 THE CREST 1,625 3,113,000 1,915 99 9 THE LUMOS 1,755 3,750,000 2,137 FH
3 RIVER PLACE 1,249 1,833,000 1,468 99 9 LEONIE HILL RESIDENCES 1,389 2,950,000 2,125 FH
3 ASCENTIA SKY 1,475 2,130,000 1,444 99 9 TRIBECA 570 1,180,000 2,068 FH
3 QUEENS 1,195 1,515,000 1,268 99 9 TIARA 1,507 3,000,000 1,991 FH
4 CORALS AT KEPPEL BAY 904 2,056,000 2,274 99 9 RIVERSIDE 48 689 1,226,800 1,781 FH
4 CARIBBEAN AT KEPPEL BAY 840 1,530,000 1,822 99 9 CAIRNHILL PLAZA 3,305 5,750,000 1,740 FH
4 CARIBBEAN AT KEPPEL BAY 840 1,500,000 1,787 99 9 ORCHARD COURT 1,453 2,300,000 1,583 993
4 REFLECTIONS AT KEPPEL BAY 850 1,460,000 1,717 99 9 WILKIE COURT 1,044 1,500,000 1,437 FH
5 THE PEAK@BALMEG 1,507 2,100,000 1,394 FH 9 PARC CENTENNIAL 1,572 2,250,000 1,432 FH
5 HUNDRED TREES 915 1,238,888 1,354 956 10 THE ORANGE GROVE 2,153 4,850,000 2,253 FH
5 HUNDRED TREES 786 1,030,000 1,311 956 10 THE TOMLINSON 2,347 5,150,000 2,195 FH
5 THE ESTIVA 980 1,280,000 1,307 FH 10 DRAYCOTT EIGHT 1,173 2,200,000 1,875 99
5 CARABELLE 1,292 1,685,000 1,305 956 10 LOFT@HOLLAND 980 1,600,000 1,633 FH
5 BLUE HORIZON 904 988,000 1,093 99 10 PALM SPRING 1,862 2,980,000 1,600 FH
5 BLUE HORIZON 1,163 1,200,000 1,032 99 10 ASTRID MEADOWS 1,690 2,550,000 1,509 FH
5 FABER CREST 1,335 1,350,000 1,011 99 10 ASTRIDVILLE 2,433 3,350,000 1,377 FH
5 FABER CREST 1,249 1,250,000 1,001 99 10 BEAVERTON COURT 3,229 4,438,000 1,374 FH
7 CONCOURSE SKYLINE 1,087 1,750,000 1,610 99 10 CASABELLA 3,078 3,250,000 1,056 FH

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 SINGAPORE PROPERTY WEEKLY Issue 366

Postal Area Transacted Price Postal Area Transacted Price

Project Name Tenure Project Name Tenure
District (sqft) Price ($) ($ psf) District (sqft) Price ($) ($ psf)
11 AMARYLLIS VILLE 1,238 2,150,000 1,737 99 16 WATERFRONT ISLE 915 1,118,000 1,222 99
11 AMARYLLIS VILLE 980 1,561,000 1,594 99 16 THE BAYSHORE 980 950,000 970 99
11 LA SUISSE 2,099 2,580,000 1,229 999 17 THE INFLORA 1,335 1,450,000 1,086 99
12 THE INTERWEAVE 388 610,000 1,574 FH 17 HEDGES PARK CONDOMINIUM 764 738,000 966 99
12 THE BELLEFORTE 1,335 1,680,000 1,259 FH 17 ESTELLA GARDENS 1,485 1,308,000 881 FH
13 NIN RESIDENCE 474 770,000 1,626 99 17 AZALEA PARK CONDOMINIUM 1,313 1,125,000 857 999
14 COSMO 398 640,000 1,607 FH 17 EDELWEISS PARK CONDOMINIUM 1,055 888,000 842 FH
14 SIMS EDGE 474 750,000 1,584 FH 17 ESTELLA GARDENS 1,292 1,080,000 836 FH
14 LEVENUE 463 620,000 1,340 FH 18 MODENA 1,485 1,390,000 936 99
14 EDENZ LOFT 431 570,000 1,324 FH 18 RIPPLE BAY 1,399 1,298,000 928 99
14 CENTRA HEIGHTS 581 750,000 1,290 FH 18 NV RESIDENCES 1,453 1,300,000 895 99
14 KEMBANGAN SUITES 818 968,000 1,183 FH 18 SAVANNAH CONDOPARK 1,023 870,000 851 99
14 EUHABITAT 1,130 1,205,640 1,067 99 18 OASIS @ ELIAS 1,410 1,175,000 833 99
14 STARVILLE 1,216 1,168,000 960 FH 18 CHANGI RISE CONDOMINIUM 1,281 1,050,000 820 99
14 ASTON MANSIONS 1,012 915,000 904 99 18 SAVANNAH CONDOPARK 2,293 1,690,000 737 99
15 THE SEAWIND 646 1,192,000 1,846 FH 19 BARTLEY RESIDENCES 807 1,208,000 1,496 99
15 SILVERSEA 969 1,725,000 1,781 99 19 CASA CAMBIO 495 728,888 1,472 FH
15 QUESTA @ DUNMAN 807 1,200,000 1,486 FH 19 THE SCALA 850 1,188,000 1,397 99
15 PARC ELEGANCE 452 640,000 1,416 FH 19 LA FIESTA 753 960,000 1,274 99
15 WATER PLACE 904 1,280,000 1,416 99 19 THE SPRINGBLOOM 1,302 1,500,000 1,152 99
15 CUBIK 1,023 1,400,000 1,369 FH 19 PARC CENTROS 1,141 1,300,000 1,139 99
15 SANCTUARY GREEN 1,399 1,680,000 1,201 99 19 KOVANA 1,184 1,320,000 1,115 FH
15 THE SUNNIDORA 861 1,020,000 1,185 FH 19 THE QUARTZ 1,066 1,040,000 976 99
15 THE BALE 1,765 1,720,000 974 FH 19 PARK RESIDENCES KOVAN 1,195 950,000 795 FH
16 OPTIMA @ TANAH MERAH 484 740,000 1,528 99 20 MARYMOUNT VIEW 1,755 2,318,000 1,321 FH
16 OPTIMA @ TANAH MERAH 506 660,800 1,306 99 21 N.A. 1,033 1,280,000 1,239 999
16 WATERFRONT GOLD 667 850,000 1,274 99 21 HILLVIEW GREEN 980 950,000 970 999

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 SINGAPORE PROPERTY WEEKLY Issue 366

Postal Area Transacted Price

Project Name Tenure
District (sqft) Price ($) ($ psf)
22 CASPIAN 1,001 1,055,000 1,054 99
22 THE MAYFAIR 1,195 1,050,000 879 99
23 PARK NATURA 1,378 1,620,000 1,176 FH
23 THE AMSTON 1,313 1,250,000 952 999
23 HILLTOP GROVE 1,485 1,200,000 808 99
26 CASTLE GREEN 1,130 840,000 743 99
27 SKIES MILTONIA 969 980,000 1,012 99
27 THE NAUTICAL 990 960,000 969 99
27 EIGHT COURTYARDS 1,345 1,113,800 828 99
28 SELETAR SPRINGS CONDOMINIUM 980 810,000 827 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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