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The Ministry of National Development (MND) has announced that 12 private residential sites, including 5 Executive Condominium (EC) sites and a mixed commercial and residential site, make up the Confirmed List for first half of 2013 (1H2013) of the Government Land Sales (GLS) programme. These plots of land will be developed into 14,000 new private homes in the first half of next year. Of the targeted 6900 private residential units, 3100 will be ECs. The aim of releasing this supply is to keep the price of housing steady after it hit the roof in the third quarter of 2012. Most of these private residential sites will be situated at the city fringe or the suburbs, where home prices are generally lower. The sites will also yield 33,000 sqm gross floor area (GFA) of commercial space. The expected number of 14,000 homes that will be developed from these sites is similar to the 14,185 and 14,140 units achieved in the first and second half of this year respectively. On top o

Dec 31, 2012 - PropertyGuru.com.sg Demand for executive condominiums (ECs) has been red hot this year due to their potential price gains and features that rival those of private condominiums, reported The Straits Times. The launch of the S$2.05 million “presidential penthouse suite” at CityLife EC project in Tampines further highlighted the allure of such properties. However, the record-selling prices at new launches have created controversy as to whether buyers of these pricey units should be entitled to HDB grants. Mohamed Ismail, Chief Executive of PropNex, said: “It’s almost a given that if you buy an EC today and wait 10 years, you could make a quarter of a million dollars in profit.” Units at new EC launches are usually priced 20 to 25 percent lower than 99-year leasehold private condos. Only households with a monthly income of S$12,000 and below are eligible to buy one. However, unlike HDB flats which cannot be sold to foreigners, ECs can be sold to forei

The Straits Times Monday, Dec 31, 2012 THE National Development Ministry (MND) has warned that it is closely watching developments in the executive condominium (EC) segment and will consider further measures if needed. It was responding to The Straits Times' queries on whether sky-high prices for some EC units at recent launches are of concern. The latest focal point in the EC debate is a huge 4,349 sq ft "presidential suite" at 514-unit CityLife @ Tampines, which will be the first EC unit to eclipse the $2 million mark. The penthouse unit, with a roof terrace of about 1,600 sq ft, is priced at about $2.05 million. Lately, many ECs, a public-private housing hybrid, have come with million-dollar price tags. Some large, luxurious units come with fancy designs such as private pools, rivalling private homes. "Minister for National Development Khaw Boon Wan has recently blogged about his concerns that the EC developers should obs

Today 04:45 AM Dec 28, 2012 Iskandar Malaysia was launched in November 2006 with the aim of developing the southern Johor region into a strong and sustainable metropolis of international standing. With a total area of 2,217 sq km, the region will have five flagship zones including the Johor Baru City Centre, Nusajaya and Senai-Skudai, and will incorporate work, live and play elements. A number of key projects have been planned to attract investments into Iskandar, and some have been successfully completed, such as the Johor Premium Outlet and LegoLand. According to recent reports, as of last September, Iskandar had recorded nearly RM100 billion (S$40 billion) in investments, about 40 per cent of which came from foreign sources. A number of Singaporean companies such as Ascendas and Raffles Education, and even Singaporean billionaire Peter Lim, have invested in Iskandar-related projects -proof that it is gaining momentum and critical mass. Given Iskandar's

The Business Times Sunday, Dec 30, 2012 SINGAPORE - NTUC Income, which early last year acquired a 49 per cent stake in 16 Collyer Quay from Goldman Sachs, is now believed to be stitching a deal to buy out the remaining 51 per cent in the 999-year leasehold office tower from the US bank to gain full ownership of the asset. The two sides are thought to have agreed on terms, although a deal is expected to be inked only next month at the earliest. BT understands that the transaction values the office tower at around $660 million, or close to $2,400 per square foot on net lettable area of 278,356 square feet. Income's acquisition last year valued the property at about $626 million or $2,250 psf on NLA. Goldman paid $811 million or $2,900 psf for 16 Collyer Quay - formerly known as Hitachi Tower - in early 2008. When Goldman sells its remaining 51 per cent in Savu Investments, which owns the 37-storey office tower, it will mark the divestment of its last major S

SINGAPORE: 2012 has been record-breaking year for executive condominium projects - both in terms of price and number of units sold. Property firms Channel NewsAsia spoke to say the number of units sold increased by about four times this year, compared with 2010. CityLife@Tampines, which was launched on Saturday, has about 500 units. 90 per cent of them have been snapped up. A penthouse at the development was sold for S$2.05 million. The government has signalled that it may introduce measures to cool the market. The move is expected to cool prices and ensure that EC units remain affordable for the sandwiched class. One possible measure would be restricting the floor area for the largest unit in a development to between 1,800 and 2,000 square feet. But given the high take up rates, some believe affordability will not be an issue. "The government initially had this concern but based on the results that we are seeing here, it is very affordable," s

Comparing investment opportunities Dec 28, 2012 It is not uncommon for home buyers to experience confusion when trying to decide between Executive Condominiums (ECs) and private condominiums. Afterall, the two property types are very similar. For those in the know, the purchase of a piece of residential property means more than just buying a home; consideration must also be given to the investment opportunities provided by the property in the long run.  When it comes to the returns on investment, Executive Condominiums (ECs) can command prices that rival that of the mass market condominiums in the resale market. In fact, the resale price gap between ECs and condominiums has narrowed from 20% to 25%, to 17.2%. Additionally, the prices of ECs have shown a positive trend, rising steadily by 10% to 20% in the past 2 years alone. This is a sure sign of a robust resale market, with potential profits to be reaped. Although as a cursory observation, this may all point

City Development Ltd (CDL) is bringing chic living to Singapore with the newly launched Echelon Condo @ Alexandra. Located right next to Redhill MRT, this lavish condo offers residents a wide range of amenities. Surrounded by the lush greenery along Alexandra Road, the twin towers of Echelon Condo @ Alexandra is just a 5 minute drive from central Singapore. It is also a stone’s throw away from many parks and schools in the neighbourhood. Familiar landmarks like Marina Bay Sands and Sentosa are easily accessible via Redhill MRT or the CTE and AYE expressways. With 508 units ranging from 1-5 bedroom options in the form of apartments, suites and penthouses, the development meets the needs of any family size. In addition to a good variety of residential units, a number of facilities have been carefully planned and provided for the recreation and convenience of the residents. Sports aficionados can get their fix with a tennis court and a pool area complete with a 50m lap poo

SINGAPORE : Prices of completed private apartments and condominiums picked up pace in November, with those in the central region leading the gains. According to the National University of Singapore (NUS) Singapore Residential Price Index (SRPI), prices of private non-landed homes climbed 1.9 per cent in November. This follows a 0.8 per cent increase in the previous month. In particular, prices of private non-landed homes in the central area (excluding small units) advanced by 2.6 per cent in November, compared with a 0.4 per cent rise in October. NUS Institute of Real Estate Studies, which published the SRPI flash estimates, said the sharp rise in prices of private non-landed homes (excluding small units) in the central area was driven by strong resale activity. Units in the central region made up about 35 per cent of the total volume of transactions in October and November compared to 25 per cent in January. Associate Professor Lum Sau Kim of the NUS Instit

SINGAPORE: Dual-key units are proving to be popular among home buyers, based on the response of an executive condominium launch on Friday. Such units are designed to contain separate living spaces under one roof. Channel NewsAsia understands about 20 per cent of the dual-key units at the condominium Forestville were snapped up within two and a half hours of the launch. The developers have included about 200 such units in the 653-unit project. They are confident such units will remain popular. Richard Nah, senior manager at MCC Land said: "I do think that people are starting to appreciate the attributes of the dual-key units. And therefore, I hope they will really get to understand the dual-key units' advantages brought to them: having the closeness of the family together, and yet, maintaining privacy." Martin Koh | 86666 944 | R020968Z Sherry Tang | 9844 4400 | R020241C Senior Sales Director Email: marshe_inc@yahoo.com.sg DTZ Debenham

29 December 2012 1645 hrs CNA SINGAPORE: An executive condominium (EC) penthouse, with a record price-tag of S$2.05 million, was sold about an hour after the launch of the project on Saturday. A spokesman for the CityLife@Tampines project said the sale was made just after 11am. Channel NewsAsia understands that the buyers are a married young couple from a multi-generation family. Channel NewsAsia also understands that the buyers intend to live in the penthouse with their parents and siblings. The size of the penthouse is about 4,350 square feet - and can house up to four families under one roof. The developer said there were 1,800 applications made for the 514 units. About 65 per cent of the units have been sold. Tng Lay Kim, managing director of Kay Lim Construction & Trading said: "Actually, this price isn't very expensive. It's actually very cheap, because it's only S$470 per square foot. We only have one such unit. We're te

SINGAPORE: It has been a record year on the housing front, with a bumper crop of 27,000 Build-to-Order (BTO) flats launched in 2012, 2,000 more than originally planned. This brings the total number of flats launched in the past two years to more than 52,000. The increase in the number of flats has helped meet the demands of many first-time home buyers. The overall first-time application rate through the year has largely remained under two to a unit, except for the March launch of BTO flats, which saw 2.2 applicants for each unit. "The buyers have got a greater number of choices - that means in one tranche you have two, three, four, five thousand houses," said Mohamed Ismail, chief executive office of PropNex. "That means anyone who attempts to apply for a house will be successful and that's what's happening now." A helping hand was also extended to second-time applicants. In his Committee of Supply speech in March, National Develo

DECEMBER 27, 2012 Analysts see sustained demand for HDB resale flats next year They say prices may rise by between 3% and 8% and COVs may go up by 5-10% Business Times [SINGAPORE] Hot, robust and pulsating. Three words market watchers have used to describe the resale flat market this year, and it looks like they will be saying the same next year. Resale prices for Housing & Development Board (HDB) homes could go up by between 3 and 8 per cent in 2013, and cash-over-valuations, or COVs, could rise 5 to 10 per cent, analysts told The Business Times. They foresee sustained demand in the face of constrained supply and easy monetary conditions. Nicholas Mak, executive director of research and consultancy at SLP International, likened the resale market to a big ship that requires a shock or simply more time to turn around. "Nothing short of government intervention or a softening economy would bring down prices," he said. Ong Kah Seng, director at R