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The Business Times  | M AY 11, 2013 IP Global's Tim Murphy says although the market has gone up a lot, there is also more affordability - which bodes well for the next 10 years REAL estate will continue to be rewarding over a 10-year horizon, even in Singapore and Hong Kong where cooling measures are expected to induce a lull over the next couple of years. Tim Murphy, chief executive of real estate firm IP Global, says Kuala Lumpur is among the most attractive real estate markets at the moment. There are also selected opportunities in London and New York even though both markets have appreciated considerably over the last year or two. "Asians love real estate just like the British. If they can invest, they will. In the last 10 to 15 years, although the market has gone up a lot, there is also more affordability . . . "In the developed markets of Singapore and Hong Kong, you have two types of buyers: the newly wealthy make money on prope

The Straits Times  | M AY 11, 2013 Prices, transaction volumes down as buyers favour new properties THE recent cooling measures continue to inflict pain on the resale private home market with prices down and transaction volumes hammered last month. Analysts say the tough steps imposed in January are prompting buyers to turn their backs on resale units and look to new properties where discounts are being dangled. The effect has been a slow-motion price slump. They dipped 0.4 per cent last month from levels in March, which in turn were down 2 per cent from February's values. The plunge in transaction volumes has been far more dramatic. Only 572 resales were recorded in April, down 54 per cent from the 1,240 in the same month last year. It was also fewer than the 614 units resold in March this year. Around half of April's resales were in suburban regions, the Singapore Real Estate Exchange said yesterday. Transactions were not concentrated in any

The Straits Times  | M AY 11, 2013 Projects in the two areas are 'most searched for' on STProperty website GOING by recent searches on the STProperty website, the Pasir Ris and Punggol areas are attracting the most interest from potential home buyers. The most searched project on the site in the week ended May 5, based on page views, was the Waterbay executive condominium (EC) in Punggol, which was launched last October. Ripple Bay condominium in Pasir Ris was next, followed by Bartley Residences, next to Bartley MRT Station. Knight Frank consultancy and research head Alice Tan said rising private home prices, especially for mass market units, are prompting home buyers to look at ECs as an affordable alternative. Waterbay is the only EC in the top 10 so its popularity could be linked to growing interest in the Punggol area. "Waterbay EC could be attractive to budget-conscious home buyers, for its lower price points and location attributes with

To take advantage of the private housing market rebound in March, developers are launching a slew of new projects set to come on to the market this month. Launches include The Siena, Ferra, Hallmark Residences, The Flow@East Coast, Cluny Park Residence, KAP & KAP Residences, Whitehaven@Pasir Panjang and Midtown & Midtown Residences (pictured). Located at the former GRTH building site at 66 East Coast Road, the Flow@East Coast comprises 56 commercial units including clinics, shops, a food court and restaurant. The freehold commercial site was acquired by Oxley Holdings for S$76.1 million or S$1,298 psf ppr, inclusive of development charges. Hallmark Residences is located at 21 Ewe Boon Road on the site of the former Nob Hill Condominium and two adjacent bungalows which were purchased by MCL Land for S$95 million or S$1,100 psf. Over at the former Westvale condominium site in Pasir Panjang, Roxy-Pacific is developing Whitehaven@Pasir

An executive condominium (EC) site at the junction of Woodlands Avenue 5 and 6 received a total of seven bids when HDB closed its tender yesterday. The 99-year leasehold plot attracted a top offer of S$216 million or S$341.21 psf ppr from Qingjian Realty (South Pacific) Group. This was followed by Bellevue Properties with a bid of S$198 million or S$312.77 psf ppr. “The bid price of S$216 million or S$341 psf ppr is higher than the previous bids of nearby plots - S$318 psf ppr and S$302 psf ppr, last year. The relatively higher bid reflects developers’ renewed confidence in the area following the government’s announcement on Woodlands as Singapore’s new commercial hub in the land-use plan in January 2013,” said Desmond Sim, Associate Director at CBRE Research. “We expect interest in the next few EC plots this year to remain strong as there is a genuine need and demand for ECs. Developers are still positive about the EC market,” he added. Martin Koh

The Twin Fountains executive condominium (EC) in Woodlands has seen strong interest from buyers, with the only two available penthouses sold for S$1.64 million each. Aside from both units which are vast – measuring 2,207 sq ft, 104 dual-key units were also snapped up, The Straits Times reported. Jointly developed by Frasers Centrepoint and Lum Chang, the development comprises 418 units of which 289 were sold as of Saturday. Buyers showed keen interest for the four-bedroom, dual-key units priced at around S$1.13 million to S$1.25 million. According to the report, the dual-key units at Twin Fountains were exempt from January’s new regulations which limits the sale of such homes to multi-generational families, hence the strong response. Location may have also been another key selling point, with the upcoming Woodlands South MRT station and Woodlands Regional Centre expected to boost the value of homes in the project. Meanwhile, first-time buyers accounted for 39 percent

The Straits Times  | M AY 11, 2013 Only 572 resales were recorded in April, down 54 per cent from the 1,240 in the same month last year. THE recent cooling measures continue to inflict pain on the resale private home market with prices down and transaction volumes hammered last month. Analysts say the tough steps imposed in January are prompting buyers to turn their backs on resale units and look to new properties where discounts are being dangled. The effect has been a slow-motion price slump. They dipped 0.4 per cent last month from levels in March, which in turn were down 2 per cent from February's values. The plunge in transaction volumes has been far more dramatic. Only 572 resales were recorded in April, down 54 per cent from the 1,240 in the same month last year. It was also fewer than the 614 units resold in March this year. Around half of April's resales were in suburban regions, the Singapore Real Estate Exchange said yesterday. Transacti