BUY AND SELL A SINGAPORE PROPERTY FROM THE COMFORT OF YOUR HOUSE

Singapore new private residential sales took a beating in the final month of 2021. The new home sales plunged 58% in December. Based on URA caveats lodged in December, it is estimated that property developers sold 643 residential units, excluding executive condominiums (ECs). That is a significant 58.4% reduction from the 1,547 units sold in November.  ERA Associate Division Director, Andy Chia, attributed the plunge in sales volume to the Singapore property cooling measures that took effect on 16 December coupled with the year end holiday season. The latest property curbs dealt a severe blow to investors whom are seeking to purchase a second residential property in Singapore.  A Singaporean buying a second home will need to pay Additional Buyer Stamp Duty (ABSD) of 17% instead of 12% previously.  A foreigner buying their first or subsequent house must pay ABSD of 30% now. It is equivalent to $300,000 stamp duty for a million dollar property. "Many potential home buyers are waiting at the sidelines so I am hopeful that the property developers will provide a 3 to 5 per cent discount very soon," Chia said. December is relatively a lull period for the real estate market according to URA statistics in the past decade.  Which region is popular? The rest of central region (RCR) or city fringe accounted 44.9 per cent of the sales volume. The outside central region (OCR) took up 34.2 per cent of the new sales. The core central region (CCR) was only 20.8 per cent. Quantum and Price Sensitivity Following the new cooling measures, the Total Debt Servicing Ratio has become 55 per cent which typically affects your mortgage loan for luxury home properties that is in excess of S$3 million. The new residential properties that were sold between S$1.5 million to S$2 million took up 32.7 per cent of December's volume of landed and non-landed properties. Whereas homes in the more affordable quantum of S$1 million to S$1.5 million contributed 26.6 per cent of the volume. Buyers Profile Singaporeans made up the vast majority of the buyers for new private homes in December whereas permanent residents (PR) and foreigners accounted for 12.6% and 4.2% respectively. What are the Popular New Launch Projects? Including ECs, the top-performing project by sales volume last month was Normanton Park, which is in District 05 - Buona Vista / West Coast located next to Kent Ridge Park. The project's developer, Kingsford Huray Development, sold 73 units at a median price of S$1,831 per square foot (psf).  The next best-seller in December is Mori a freehold condo along Guillemard Road in District 14, where 71 units were sold at a median price of S$1,869. The developer is Roxy Pacific, a public listed company in Singapore.  Property Market Outlook for 2022 Belgravia Ace, a freehold strata landed property in Ang Mo Kio Avenue will be launched for sale in January 2022. The indicative selling price for a terrace strata house is S$3.8 million which is approximately S$1,050 PSF. Being the first new launch project this year, its sales results will be scrutinized by the property analysts.  Belgravia Ace is priced at a premium so it is not expected to be a sell-out, Chia added. Belgravia Villas was launched at a median price of $850 PSF in 2014. 

IKIGAI is a new launch freehold residential development in Singapore that is expected to be completed in 2026. It is located in the Heart of Novena, along Shrewsbury Road. The IKIGAI Condominium’s design is inspired by a combination of Japanese Wabi-Sabi and Scandinavian Hygge. You can expect a minimalistic yet cozy atmosphere, with a hint of Asian charm. Don’t miss out on the perfect, not to mention exclusive, boutique residence located in Singapore’s most desirable area. IKIGAI is a 5-storey condominium with a site area of 1,028.1 sqm / 11,065.44 sqft. It has a 1 block apartment with only 16 exclusive residential units. The unit mix consist of 1 bedroom to 3 bedrooms penthouses, from 603 sqft to 1,453 sqft floor area.  Residents can enjoy communal facilities such as the swimming pool, kid’s pool, gymnasium, outdoor shower, and bicycle parking. It even has a garden pavilion within its vicinity. There are also 13 carpark lots available with 1 EV charging lot. About the Property Developer Ikigai is developed by Opulent Development Pte. Ltd. It is a subsidiary of renowned developer Prime Developments Pte. Ltd. Strategic Location in Singapore IKIGAI is only a short drive away from Novena city center. This gives IKIGAI residences many lifestyle amenities, dining, and entertainment options around the vicinity. Many claims that IKIGAI is located at an enviable address. It’s not only situated in a leafy neighborhood of Thomson Road but is also nearby the food and shopping gems of Newton. Besides that, there are also historic and medical institutions in Novena. Residents can even commute easily to Orchard Road which is a world-class retail destination. Easy Commute IKIGAI residents have easy access to commute around Singapore. The condominium is a 7-minute walk to the Novena MRT Station. By taking the Novena MRT, residents can commute to the bustling city center. You can even take the same line to reach the Central Business District, also known as the heart of Singapore. Besides that, the Novena MRT is only one stop from Newton MRT, making it incredibly convenient to travel around Singapore. In case you didn’t know, the Newton MRT is connected to both the North-South Line and the Downtown Line. Nearby Educational Institutions There are many notable educational institutions nearby IKIGAI. This includes (but is not limited to) St. Joseph’s Institution Junior, Anglo-Chinese School, Global Indian International Campus, and Raffles Institution. Book a VVIP Showflat Appointment Interested to get yourself one of the 16 exclusive units of IKIGAI? Book a show flat appointment today by calling exclusive property agent +65 8323 9888. Alternatively, you may also fill-up the form to book an appointment.

Zyanya is a new launch freehold boutique development located in the East of Singapore. This beautiful condominium is located in District 14 and is scheduled to be completed in 2025. Did you know that freehold tenure is popular among property investors? However, Zyanya only has 34 exclusive apartments for sale, so be quick! Residents can expect various condominium facilities as seen in the site plan below. The design also entails a wide variety of layout types, ranging from one to four-bedroom apartments. Zyanya also has expansive penthouses and dual-key options available. Zyanya Property Developer This new launch project is developed by NNB 8 Development Pte Ltd. They are a newly established developer in the Singapore real estate market. However, they are part of a joint venture led by Singapore-listed food catering company Neo Group and EDC Holdings which is an advisory service firm. Strategic Location Zyanya is in the Central East part of Singapore. It is located at a Freehold site at District 14, 8 Lorong 25A Geylang. Zyanya is strategically located as it will stand within a hub of accessibility. Residents will gain easy access to MRT’s and reputable institutions. Zyanya will also heavily benefit from the revitalization of the Kallang area. Easy Access to MRT The condominium is only a 5-minute walk from Aljunied MRT Station (East-West Line). And in less than 10-minutes, you can reach Dakota and Mountbatten MRT Stations, both on the Circle line. Being so close to the MRT lines would mean easy access to the city center as well as other areas of Singapore. For residents who drive, Zyanya is located only minutes away from major expressways such as PIE, KPE, CTE, and Nicoll Highway. Revitalization of Kallang Area Besides that, Zyanya is merely a short drive from the Paya Lebar Central (Coming soon). In case you didn’t know, the Paya Lebar Central is envisioned to be a thriving city fringe commercial hub. The URA Masterplan’s revitalization of the Kallang area will also heavily benefit Zyanya’s residents. This project promises new developments, integrated amenities, and vibrant public spaces. Zyanya unit owners can expect new community clubs with upgraded facilities, seamless park connectors along the Kallang River waterfront, and enhancements of Kallang Sports Hub. Nearby Institutions Families with young children will benefit from Zyanya’s location as well. There is a myriad of schools of all levels found in its vicinity. For example, Kong Hwa School, Global Indian International School, Geylang Methodist Primary School, and Secondary Schools. All listed schools are within a 1km radius from the Zyanya residence. There are also more reputable institutions nearby such as the Chung Cheng High School, Dunman High School, and Victoria Junior College. Book an Appointment Today for VVIP Project Launch Interested in Zyanya or other new launches? Call 83239888 to reserve a unit and enjoy early bird discount! Please be aware that units are currently selling fast and are based on a first come first serve basis. So, hurry now to secure yourself a carefully curated luxury unit at the perfect city fringe abode.

Hong Kong developer Shun Tak Holdings has abandoned the S$556.7 million enbloc deal of High Point after Singapore government introduced a slew of new property cooling measures. High Point condo was completed in 1973 and located at 30 Mount Elizabeth which is a Prime District 9 in Singapore. It has a freehold site area of about 47,606 sq ft with a verified gross floor area (GFA) of 211,976 sq ft. The condominium encompasses 57 apartments and 2 penthouses over 22 storeys.  Based on the Urban Redevelopment Authority’s Masterplan 2019, the site was established to be a residential area that could go up to 36 storeys’ high. The potential bird’s eye view with the sky-scraping property features unsurmountable views of the greenery and CBD skyline that beats the fatigue out of you after a long, tiresome day at work. High Point is located at a fine spot of walking distance to main road leading to the Orchard shopping belt, where it entails a shopping paradise and a food galore for the young and the youthful old. There are also other amenities that are a stone’s throw away include Mount Elizabeth Hospital, private clubs like Tanglin Club and the Singapore Botanic Gardens. With these abovementioned qualities that High Point has, it is no wonder that Shun Tak Holdings laid eyes on this beauty with their decision to “expand our portfolio and foothold in Singapore” as mentioned by Shun Tak’s chairman and managing director, Pansy Ho. However, there are other stakes involved with every opportunity that is laid. What caused the fallout of the High Point enbloc deal? Savills Singapore has mentioned in a statement that High Point condo had the third-highest land price per sq ft per plot ratio (psf ppr) of approximately $2,537 psf psr in the whole of Singapore’s history. Shun Tak’s plans of redeveloping High Point into a luxury condominium by 2027 seem to suggest that they were thwarted by the latest property cooling measures that were announced by the Singapore government. These measures include the higher rates of additional buyer’s stamp duty (ABSD) of about 5 to 15 percentage points, where it includes all entities. The ABSD refers to the charge on taxes with every residential property purchased for all entities, excluding Singapore citizens and permanent residents (PRs) who are buying their first residential property. Foreign buyers in particular will have to pay an ABSD of 30 per cent regardless whether it is their first or second property, up from 20 per cent previously.  For property developers, the remittable ABSD also increased by 10 per cent, which lead to higher opportunity costs where the liabilities include not just 35 per cent ABSD (previously 25 per cent) but also the interest that comes along with it should they fail to complete the residential project and sell all the units within 5 years of land acquisition. It's worth noting that the tender for High Point closed before the cooling measures took effect on 16 December 2021, therefore Shun Tak is subject to the old scheme of 25 percent remissible ABSD. The aggressive property cooling measures meant that Shun Tak Holdings had to withstand higher risks amidst the uncertain COVID-19 times so it would rather forfeit a one million dollar tender deposit as opposed to holding on. About Shun Tak Shun Tak is a Hong Kong property developer founded by casino tycoon Stanley Ho and is helmed by his daughter Pansy Ho. In May 2021, it launched Park Nova in Tomlinson Road and the recent transactions were at an average of more than S$4,500 psf. Shun Tak owns the commercial building, 111 Somerset, which comprises of retail, office and medical suites at Somerset Road. Pansy Ho, Shun Tak's chairman and managing director, said in a media release on 9th December that the collective sale of High Point will expand their portfolio and foothold in Singapore. 

Located in the up-and-coming Ang Mo Kio area, Belgravia Ace is a new cluster housing property by the Tong Eng Group. Consisting of 104 semi-detached houses and 3 terrace houses, the District 28 development is one of the largest landed properties to be launched in Singapore in 2022. Belgravia Ace has the largest plot of freehold land of about 300,000 sq ft. According to the developer, it is slated for completion in 2028 also known as TOP date.  The earlier phases of among Belgravia Villas and Belgravia Green are fully sold.  A terraced house at Belgravia Green with built-up area of 3,595 sq ft was sold for $3.17 million ($883 psf), based on ura caveat lodged in November 2020. Belgravia Ace Traits Only 18 Type A semi-detached will have a car porch in front of the house at level one, which resembles a typical pure landed house. The remaining Type B and C semi-detached houses will have access to the carpark from the basement. The houses at Belgravia Ace come with five bedrooms altogether. There are master bedroom and junior master bedroom on the second level, and three other bedrooms (one en suite) on the third level. Unlike Belgravia Villas, there will be no bedroom at the basement of Belgravia Ace. Every house has a private home lift and full-height windows for all the bedrooms. The windows use low-emission glazing that reduces UV and infra-red rays from the sun. In addition, you will get an electric vehicle charging station at your car porch. Air-conditioning systems and home appliances are of the highest energy efficiency rating. The developer is also providing shoe wardrobe with air suction to remove odours.  Housing Amenities Belgravia Ace has a drop-off area and air-conditioned lobby at the main entrance.  Its facilities include a 50m swimming pool, barbecue pits, outdoor pavilions, steam and sauna rooms, a jacuzzi, and a children’s playground - similar to many condominiums in Singapore! Additionally, it boasts a lounge, cocktail gardens, an elevator within each home, and a wellness cove. It has a double-storey clubhouse with a residents’ lounge, private dining room fully equipped with kitchen facilities, a games room and gym. Each home allows space for two cars as well, comfortably parked. Nearby Spots Nearby malls are a short five to ten minutes drive and include the well-known Greenwich V as well as Seletar Mall. Compass One at Sengkang Central and AMK Hub at Ang Mo Kio Town Centre are also located nearby, all within easy access. The Ang Mo Kio MRT station is a 9-minute shuttle ride away, and the property's secluded location provides a buffer against the noise of MRTs and highways. The Tampines Expressway (TPE), Seletar Expressway (SLE), and Central Expressway (CTE) are within easy reach of the property as we. Within 3 minutes, the Seletar Hills park connector can be reached for a lovely walk through greenery as well. The Nim Meadow Park is also nearby, as is the Stratton Walk Playground which is located right next to Ang Mo Kio Linear Park. When it comes to food, Jalan Kayu provides an incredible variety of al fresco dining options. Furthermore, Serangoon Gardens' famed food spots are located nearby, not to mention Chomp Chomp Food Centre and the restaurants located at the malls listed above.   For Your Children This cluster housing is also surrounded by household names when it comes to renowned schools - Chatsworth, Rosyth, and various international schools including the International French Schools. For young families, you will be glad to know that Jing Shan Primary School, Sengkang Green Primary School, Fernvale Primary School, Hougang Primary School are within 2km radius. For your older children, various secondary schools are located nearby, as is Nanyang Polytechnic. Tuition centres and educational institutions located within the area also serve to provide your child with everything they need to succeed academically.   Belgravia Ace Pricing The 50:50 joint-venture between Tong Eng Brothers and Yeap Holdings had purchased the 40-acre (over 1.74 million sq ft) freehold land parcel in the early 1970s. The cost of land was very cheap fifty years ago. It stretches from Seletar Terrace to Nim Road. It is a matter of making more or less profit for the joint developers today. Given the recent property cooling measures by the Government and expected rate hike in 2022, we expect buying sentiment to weaken significantly given the quantum of Belgravia Ace is on the high side. We predict the launch price of Belgrava Ace to be from $850 PSF so the terrace house could go on sale from $3.1 million.  Contact us for VVIP preview registration and you can enjoy special early bird discounts at the Belgravia Ace showflat.   Why Belgravia Ace? Belgravia Ace offers a calming, family-oriented space for families to live in and succeed together. With its wide variety of amenities as well as nearby facilities for greenery and education, families can be assured that comfort is within reach.