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COMMERCIAL PROPERTY | Staff Reporter, Singapore Published: 21 Dec 12 Lying low in office sector? According to Maybank Kim Eng, as the outlook for the Singapore office sector remains muted, and the hotel sector also appears to have peaked, SingLand has turned to residential development by acquiring four sites in 2012. Here's more from Maybank Kim Eng: We see this as a proactive move by the management to maintain returns for shareholders. With its free float close to 10%, we now see a higher probability of a privatisation. SingLand was an active participant in the 2012 Government Land Sales (GLS) programme, acquiring four sites for residential development (Bright Hill site is a 50-50 JV with UOL). The sites have a combined attributable GFA of 788,361 sq ft and an estimated GDV of SGD1.3b. At a blended pre-tax margin of ~18%, margins are decent. After sluggish starts, both The Trizon and Archipelago (50% stake) are now substantially sold at 92% an

Wednesday, Dec 26, 2012 SINGAPORE - More than 7,000 households are expected to benefit from the upgrading works which includes landscaping, more fitness equipment and wider footpaths, said the Ministry of National Development on Wednesday. The Ministry of National Development (MND) will spend about $29 million over the next two years to upgrade and develop the infrastructure in private estates around Singapore under its Estate Upgrading Programme (EUP). Progress of the EUP Since 2000 when the EUP first started, MND has spent $138 million for seven batches of EUP, benefiting more than 34,000 households in 46 private estates. For the forthcoming Batch 8 of the EUP, MND has selected eight private estates for upgrading at an estimated cost of $29 million (see Table 1). These are the older private estates which have a greater scope for improvement and will benefit significantly from the rejuvenation and upgrading of their physical living environment. The EUP impr

26 December 2012 1635 hrs CNA SINGAPORE: The Ascott, CapitaLand's wholly-owned serviced residence business unit, is strengthening its market presence in China. In a filing to the Singapore Exchange, the firm said it has secured contracts to manage three properties with more than 500 apartment units in China. The 90-unit Ascott Heng Shan Shanghai is scheduled to open in 2014. Meanwhile, two serviced apartments in Suzhou - the 250-unit Ascott Emerald City Suzhou and the 94-unit Somerset Baitang Suzhou - will start operations in 2015 and 2017 respectively. With the latest additions, Ascott will have more than 10 serviced residences in Shanghai and Suzhou. Mr Lee Chee Koon, Ascott's Deputy Chief Executive Officer and Managing Director for North Asia, said, "Deepening our presence in these two cities enables us to better tap the fast-growing demand for serviced residences and build economies of scale in our operations." These new contracts

THEEDGE SINGAPORE | DECEMBER 17, 2012 • 1 Sub-sale activity for properties that are newly completed or near completion saw an uptick in November, reflecting positive sentiment in the secondary market, say property agents. At Siglap V, a nearly completed 114-unit mixed-use property by private real estate developer DB2 Realty located at the junction of East Coast Road and Siglap Road, a studio unit measuring 420 sq ft changed hands at $728,000, or $1,734 psf. That’s the highest per sq ft price that Siglap V, a freehold condo comprising mostly small units, has achieved. The unit was first sold in October 2010 at $646,500 ($1,540 psf), which means the seller saw a gain of 12.6%. It has broken the $1,634 psf record set in February 2010 for a 366 sq ft studio. The property, which is just across the road from Siglap Centre and the bustling Siglap district, has F&B and retail units on the first floor. Unit sizes at Siglap V start from 366 sq ft for a studio unit to 1,

Singapore home prices have remained among the highest in the world amid challenges faced by the economy this year. Since the global financial crisis, prices have soared 56 percent and this is expected to continue in 2013, even as sales volumes decline due to the government’s cooling measures.  In fact, prices have stayed on an upward trend with a 0.5 percent increase in Q3 2012, according to data from the Urban Redevelopment Authority (URA). But home prices are still vulnerable. According to Michael Wan, research analyst at Credit Suisse, there are two scenarios that could lead to a decline in prices – a deep slump in economic growth and higher interest rates. Firstly, interest rates which fuel residential demand are now near record lows at 0.4 percent, based on the Singapore Interbank Offered Rate (SIBOR), a benchmark rate for home loans. But Wan predicts that if SIBOR increases to seven percent in the next five years, prices could drop by up to 14 percent within t

Singapore developer Far East Organization is offering a festive promotion for units in some of its most popular developments. “This year we have brought several new lifestyle concepts to the residential market including a range of SOHO-lifestyle offerings, and integrated residential developments in Singapore’s rising trans-urban centres that offer a range of units for different lifestyles within the same community,” said Chia Boon Kuah, COO for Property Sales at Far East. The festive promotion caps a good year as most projects were well-received. Starting today till 3 January 2013, discounts ranging from two to three percent will apply to developments including Watertown (pictured), The Hillier, Hillsta, SeaHill and eCO. The offer also applies to exclusive penthouse apartments in developments like Silversea (East Coast) and Cyan (Bukit Timah Road), and some limited edition townhouses in private estates. Martin Koh | 86666 944 | R020968Z Sherry Tang | 9844 4400 | R

Investment sales across all property segments in the last quarter of 2012 reached S$7.6 billion, bringing the entire year’s figure to S$29.4 billion or slightly below last year’s S$30.1 billion and S$32 billion in 2010, according to a report by Savills Research. On a quarterly basis, investment sales in Q4 declined by about 19 percent compared to S$9.3 billion in the previous quarter. The decline came mainly from the private sector where transaction values fell by 43 percent from Q3. Excluding offices, other property segments saw drops ranging between 69 and 90 percent. Residential investment sales in Q4 amounted to S$2.8 billion or 37.5 percent of the total transaction value. However, investment sales for the quarter fell by 28 percent compared to Q3’s S$3.9 billion. Meanwhile, commercial investment sales hit S$2.8 billion or 37.2 percent of overall investment sales. On a quarterly basis, the transaction value soared 62 percent from S$1.7 billion in Q3. In the hosp

2012 has been a bright year for Singapore’s property market, and as the year draws to a close, we take another look at the 10 most read stories on  PropertyGuru  this year. 1.    First to make the list was a story published on 12 April about the record-breaking sales of three resale HDB flats that hit the S$900,000 mark only a few months apart. To ease the concerns of many Singaporeans, several property experts noted that these sky-high prices are exceptional and do not represent HDB prices as a whole. Read more> 2.    Second on our list is an exclusive story that revealed how some HDB resale units have become more unaffordable than private homes. In fact, some resale flats proved to be “severely unaffordable” using a globally-recognised formula.  Read more> 3.    In early January, Bank of America Merrill Lynch predicted that Singapore home prices would drop by 12.5 percent in 2012 (a prediction that never took place) and a further eight percent during 2013. Moreover, the fir

Time flies and 2012 is almost coming to an end. As we head towards the end of December, I believe many property owners and investors are wondering what will 2013 hold.  Should they buy or should they sell?  Would the government take more cooling measures or would they finally leave the property markets alone?  Which sectors will shine in 2013?  In this article, I will attempt to highlight some of the sectors we think will do well in the coming year. Looking back in 2012 – How did it turn out? When the government came up with Additional Buyer Stamp Duty one year ago, many stakeholders feared that the property markets would crash in 2012.  We painted two likely scenarios – a “best case” and a “worst case” one.  In the “best case” scenario, we opined that countries affected by the debt crisis would continue to flood the global financial system with huge bouts of liquidity to avert any potential crisis.  As a result of this, mortgage rates would remain low.  However, due to the v

The Straits Times Tuesday, Dec 25, 2012 Suburban condominiums have generally fared better than those in prime districts this year, and the trend could continue into 2013. Property analysts told The Sunday Times that their top picks for next year were mostly in the western and northern suburban regions. Interest could also shift to districts at the city fringes. Those who do not want city living yet want the convenience of being near the city will look to the city fringe, said DWG senior manager Lee Sze Teck. Though the spotlight will likely be on suburban and city fringe hot spots next year, investors should not rule out homes in the prime districts despite a fairly lacklustre 2012 as economic conditions improve. Rich investors from overseas may seek unsold units in premier locations next year to take advantage of low interest rates and excess liquidity, said Colliers International director of research and advisory Chia Siew Chuin. Ms Chia added that s

SINGAPORE: Since last month, demolition works have been carried out on 11 small buildings and structures near the former Bukit Timah Railway Station. The works are expected to be completed next month. The structures include gate huts along the Rail Corridor at Bukit Gombak, Stagmont Ring, Sungei Kadut, Blackmore Drive and Tanglin Halt. Many of the huts were work stations of railway workers previously. The Singapore Land Authority (SLA) says the structures have been assessed to be structurally unsound, and are being demolished for safety reasons. The authorities have also put up signs to inform the public to keep away from the structures. SLA will also work with relevant agencies to identify suitable existing plots along the Rail Corridor for short-term uses, such as rest stops or rain shelters for the public. Since April this year, the former Bukit Timah and Tanjong Pagar Railway Stations have been open to individuals and organisations for activities.

SINGAPORE: The Building and Construction Authority (BCA) is looking into the concerns of some residents in Sembawang who have suffered damage to their properties. Minister for Law and Foreign Affairs as well as MP for the area K Shanmugam visited the homes of affected residents along Jalan Legundi, Jalan Derum and Sembong Road on Sunday and posted photos of the damage on his Facebook page. At least 13 households have complained of cracks in their homes. Mr Shanmugam said the cracks seem to have occurred after work started on a nearby development. The minister has asked BCA to arrange for the developer to repair the homes with more serious damage first before Chinese New Year. He also added that there would be a need to look at legal solutions if the developer does not accept responsibility. A dialogue with the developer to address the concerns of residents is expected in two weeks. Martin Koh | 86666 944 | R020968Z Sherry Tang | 9844 4400 | R020241C

The Straits Times Monday, Dec 24, 2012 IT'S one of the country's oldest towns but Queenstown remains a keenly sought place to live thanks to its dress circle spot on the city fringe. Analysts said buyers can expect steady capital appreciation, while landlords will have their pick of locals and expatriates keen to move in. Queenstown made headlines in September when a buyer paid a stunning $1 million for a resale executive maisonette, making it the most expensive Housing Board flat on record. It also drew attention that month when British royals Prince William and Catherine, the Duchess of Cambridge, dropped in. Queenstown homes are predominantly public housing, with a handful of condominiums. Landmark private projects include the 775-unit The Anchorage, a freehold estate opposite furniture retailer Ikea, and 99-year leasehold Queens, which has 772 units and is on the doorstep of Queenstown MRT station. There have been few new projects completed

The Straits Times Monday, Dec 24, 2012 A LOOK back at private home prices this year reveals a market that is mostly higher but with notable falls in some areas. Just how prices fared depends very much on where you live, underscoring the varied nature of the local real estate market. District 13 - MacPherson, Potong Pasir and Braddell - and District 21 - Upper Bukit Timah, Clementi Park and Ulu Pandan - were red-hot. But others areas, closer to the city, were decidedly cool. Average resale prices for non-landed homes in District 13 topped the table this year - surging 25 per cent to $1,270 per sq ft (psf) in the three months to December from that a year earlier, data from the Singapore Real Estate Exchange (SRX) found. District 21 came a close second, with a 24 per cent hike in average resale prices to $1,197 psf from $967 psf before. But the city centre and city fringe areas seem to have performed the worst, with the three districts that experienced lo