Mr Mak has asked a rather pertinent question: the wife and I actually do not know of anyone who lives in a "shoebox" apartment. Then again, we are probably the "old school" sort and coming from a totally different demographic.
So here's a straw poll on our readers: What age group do you belong to and how many "shoebox"dwellers do you know?
Reference: "Shoebox units make up 27% of new sales"- The Business Times, 28th April 2012
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Saturday, April 28, 2012
Friday, April 27, 2012
Enbloc News: Jade Towers first to break $100mil mark in 2012!
This should provide positive reinforcement to other potential "over $100 million en bloc aspirants"...
Reference: "Roxy-Pac acquires Jade Towers for $106.3m" - The Business Times, 27th April 2012
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Reference: "Roxy-Pac acquires Jade Towers for $106.3m" - The Business Times, 27th April 2012
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Thursday, April 26, 2012
The Real Deals (19-04-2012)
The latest issue of "The Real Deals" by Kim Eng Research focuses on residential properties in the Marina Bay area.
Looks like investors are not getting any real bang for their buck rental wise, what with the paltry 3% (or less) rental yields on their multi-million dollar investments. Having said that, it still beats leaving money in the bank anytime!
Click on link below to read the report:
http://www.scribd.com/doc/91324947/The-Real-Deals-19-04-2012
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Looks like investors are not getting any real bang for their buck rental wise, what with the paltry 3% (or less) rental yields on their multi-million dollar investments. Having said that, it still beats leaving money in the bank anytime!
Click on link below to read the report:
http://www.scribd.com/doc/91324947/The-Real-Deals-19-04-2012
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Wednesday, April 25, 2012
Enbloc News: Novena Ville
Novena Ville, a 43-unit mixed-use development along Thomson Road, has been put
up for en-bloc sale.
Its marketing agent Credo Real Estate says it is expected to be hotly contested as it has the potential to accommodate shops on the ground floor.
Credo adds that the sellers are expecting offers in the
region of $125 million to $135 million.
The freehold site has an area of 51,092sqft and with a Gross Plot Ratio (GPR) of 1.4 and an allowable height of up to four storeys.
Depending on the quantum of commercial and residential GFA proposed, Credo says the prices translate to land rates of about $1,748 to $1,887psf ppr for redevelopment up to a GPR of 1.4.
If the extra 10% allowance for the balcony space of the residential component is included, the land rates will be reduced to the range of $1,626 to $1,756psf ppr, as no development charge is payable for redevelopment of the site.
Tan Hong Boon, deputy managing director at Credo Real Estate said: "This rare mixed-use site may be developed into a residential and retail project that has been gaining popularity of late. In recent months, shops at the first level of newly launched projects located in the suburbs such as East Village were reported to have breached the $5,000 psf mark."
The tender for Novena Ville closes at 2.30pm on 24 May.
The wife and I can certainly appreciate why owners of Novena Ville will want to cash out. But the site may not be as "hotly contested" as some have assumed. Click on the link below to see why:
http://www.sgproptalk.blogspot.com/2011/11/north-south-divide-singaporean-style.html
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Its marketing agent Credo Real Estate says it is expected to be hotly contested as it has the potential to accommodate shops on the ground floor.
The freehold site has an area of 51,092sqft and with a Gross Plot Ratio (GPR) of 1.4 and an allowable height of up to four storeys.
Depending on the quantum of commercial and residential GFA proposed, Credo says the prices translate to land rates of about $1,748 to $1,887psf ppr for redevelopment up to a GPR of 1.4.
If the extra 10% allowance for the balcony space of the residential component is included, the land rates will be reduced to the range of $1,626 to $1,756psf ppr, as no development charge is payable for redevelopment of the site.
Tan Hong Boon, deputy managing director at Credo Real Estate said: "This rare mixed-use site may be developed into a residential and retail project that has been gaining popularity of late. In recent months, shops at the first level of newly launched projects located in the suburbs such as East Village were reported to have breached the $5,000 psf mark."
The tender for Novena Ville closes at 2.30pm on 24 May.
Source: Channel News Asia
The wife and I can certainly appreciate why owners of Novena Ville will want to cash out. But the site may not be as "hotly contested" as some have assumed. Click on the link below to see why:
http://www.sgproptalk.blogspot.com/2011/11/north-south-divide-singaporean-style.html
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Tuesday, April 24, 2012
Enbloc News: Kemaman View
Freehold residential development Kemaman View was put up for sale by public
tender on Monday.Located at Jalan Kemaman off Balestier Road, the development sits on a land size of approximately 17,400sqft.
The
site is zoned for residential use, with a gross plot ratio of 2.8 and a maximum
building height of up to 36 storeys.
The indicative price for the
development is between $46 million to $48 million, marketing agent HSR
Investment Sales said in a statement.
The figure translates to $945 to $986psf ppr.
No development charge is expected to be payable for the site.
Head of HSR Investment Sales Jeffrey Goh said, "The Balestier vicinity has been singled out as the key city fringe area to be enhanced, rejuvenated and revitalised.
"The upcoming Zhongshan Park and hotel developments will add vibrancy and add to the charm of the area."
Kemaman View currently comprises 30 units, each with an average size of about 1,300sqft.
HSR said a brand new high-rise development could yield about 98 new apartment units with unit sizes averaging 600sqft each.
It added that the units would have a target selling price of between $1,400 to $1,600psf, with an expected break-even price of about $1,300psf.
New nearby developments, such as The Interweave and Prestige Heights, are transacting between $1,400psf and $1,600psf for individual units.
The tender will close on May 23 at 3pm.
Source: Channel News Asia
One major issue that the wife and I have with this site is that access to the new development may be somewhat challenging especially during major Buddhist festivities and "Ching Ming" period.
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