Singapore Property News (Aug 2016)

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This is a Insights sent by New Launch Guru on 3 Sep 2016. Re-posted.

New Launch Guru Insights bring you the latest analysis, news, project movement updates, promotions, etc.

Roxy-Pacific inks deal to buy Harbour View Gardens for $33.25m

RH Developments, a subsidiary of property developer Roxy-Pacific Holdings, has secured an agreement to buy the 14-unit Harbour View Gardens condominium at Pasir Panjang Road for $33.25 million, revealed the company in an SGX filing on Wednesday (31 August).

The freehold site has a land area of about 30,745 sq ft and an existing plot ratio of 1.4 for residential apartment development.

The deal is conditional upon RH Developments obtaining an order for sale from the Strata Titles Board or the High Court approving this sale.
(Seems that enbloc market become active again!)

Raintree Gardens launched for sale for at least $315m

A 175-unit river-fronting residential development in Potong Pasir was launched for sale on Wednesday (31 August), revealed sole marketing agent JLL.

Built in the late 1980s, Raintree Gardens is a former HUDC estate that was privatised in 2014. It sits on 201,405 sq ft of land and comprises one seven-storey and two 12-storey mansionette blocks.

More than 80 percent of the development’s owners have consented to the collective sale, and are looking at offers in excess of the minimum price of $315 million. This translates to a land rate of approximately $759 psf per plot ratio on the potential gross floor area.

At this rate, the estimated breakeven cost for the successful purchaser should be around $1,250 psf, with the new units expected to fetch around $1,450 psf.

S’pore luxury home prices up 7.9% in Q2

Singapore was listed ninth on Knight Frank’s Prime Global Cities Index for Q2 2016, with luxury home prices increasing by 7.9 percent in the year to June 2016.

According to the property consultancy, prime property corresponds to the top five percent of the wider housing market in each city.

Other top performers in the second quarter include Shanghai (22.5 percent), Cape Town (16.1 percent), Toronto (12.6 percent), Melbourne (11 percent) and Sydney (10.2 percent) – all of which saw annual price growth reach double figures. Also in the top ten are Tokyo, Guangzhou and Seoul.

UPCOMING EC

SengKang, Yio Chu Kang & Choa Chu Kang

EC WITHOUT RESALE LEVY

The Terrace / The Amore / Bellewaters / Bellewoods
(Potential Capital Appreciation as high as 50% upon MOP!)

(Picture from Huttons In-house Training)

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