JUly 2012: New Launches Amid a Resilent Property Market

property market shows resilience	Straits Times: Fri, Jul 06
MORE evidence has emerged of the ongoing strength of the local property market, with both rents and resale prices defying global economic uncertainty. In a new report, property consultancy DTZ Research said rents of non-landed suburban apartments rose by 1.9 per cent in the three months to June, after edging up 0.6 per cent in the first three months of the year. Prime condo rents also enjoyed a boost, inching up 1.5 per cent in the same period. DTZ said that this was largely the result of a seasonal increase in leasing activity in April and May. Expatriates relocating to Singapore after summer tend to have their contracts inked during this period. Despite economic uncertainties hurting expat relocations, rental demand from top-end expats with budgets for luxury apartments also continued to support the high-end market despite the drop-off in relocations now. On the other hand, cost-conscious mid-tier foreign professionals, with no housing allowance as part of their relocation package, continue to support rental demand for apartments in the range of $3,000 to $7,000 a month, said Ms Margaret Thean, DTZ's executive director of residential. On the resale front, prices of private homes also gathered pace with suburban landed homes leading the pack. They rose 1.2 per cent to 2 per cent in the quarter, more than the 1 per cent rise for landed homes in the prime districts of 9, 10 and 11. Resales of non-landed homes also lodged higher prices as buyers in search of better value were diverted to resale properties in the light of benchmark prices set for new suburban launches. Freehold apartments in the prime districts of 9, 10 and 11 gained 0.5 per cent, reversing the 0.7 per cent fall the quarter before, while suburban leasehold condo prices increased 0.6 per cent, up from 0.3 per cent previously. Ms Chua Chor Hoon, DTZ's head of Asia-Pacific research, said buying demand for homes is expected to remain healthy owing to the low interest rate and buoyant employment market. 'However, the strong pipeline of developments will intensify competition for purchasers and tenants, and limit price increases particularly in the face of slower economic growth,' she added. Savills Singapore research head Alan Cheong noted that a record 14,272 homes were launched in the first five months of the year. Some of the major new launches in the second quarter include Eight Riversuites in Whampoa East, and Flo Residence and River Isles, both in Punggol. Savills' analysis showed that the median price of non-landed resale homes rose 4 per cent to $1,031 per sq ft (psf) in the second quarter. Median prices of new homes, however, suffered a slight 0.7 per cent fall to $1,144 psf. 'The price correction for new homes was expected as completion among new developments had intensified post-additional buyer's stamp duty and recent launches saw some initial price rebates and loyalty discounts,' Mr Cheong added. Still, as there is still a considerable price gap between resale and new homes, resale prices are poised to rise further as they play catch-up with the recent increase in new sale prices. 'Although the euro-zone crisis is expected to generate a fair deal of turbulence, the market has put its faith in the increasing population and the view that asset prices here are bulletproof.' Mr Cheong said: 'Developers are expected to fast-track their new project launches ahead of any further deterioration in global economic fundamentals and the seventh month Hungry Ghost Festival.' Mr Joseph Heah, 31, a permanent resident who has rented a unit in Jurong since November last year, said rents have been gradually rising since he moved to Singapore about three years ago. 'Every time the rental contract is renewed, the landlords ask for a higher rent... Even HDB flats are not cheap these days,' he added. [e-mail] Prime districts Prime condo rents enjoyed a boost, inching up 1.5 per cent in the three months to June Resale prices of landed homes in the prime districts of 9, 10 and 11 rose 1 per cent Resale freehold apartments in the prime districts rose 0.5 per cent Suburban areas Rents of non-landed suburban apartments rose by 1.9 per cent in the three months to June Prices of resale suburban landed homes rose 1.2 per cent to 2 per cent in the quarter Suburban leasehold condo prices were up 0.6 per cent LIMIT TO PRICE INCREASES The strong pipeline of developments will intensify competition for purchasers and tenants, and limit price increases particularly in the face of slower economic growth. - Ms Chua Chor Hoon, DTZ's head of Asia-Pacific research Source: The Straits Times 非有地私宅租金增长 第二季较第一季强劲 （2012-07-06） 早报导读 华京京　报道 [e-mail]   戴德梁行表示，非有地私宅的租金在第二季增长更为强劲，主要是由于季度性因素导致租赁市场在4月和5月更活跃，因为许多在本地工作的外籍专业人士通常都会在这段时间重新确定租约。 　　戴德梁行（DTZ）指出，非有地私宅的租金在今年第二季增长较第一季强劲，市区外地段公寓的租金季比上扬1.9％，黄金地段公寓的租金季比上扬1.5％。 　　相比之下，市区外地段公寓的租金在第一季的增幅是0.6％，黄金地段公寓的租金在第一季则没有增长。 　　戴德梁行表示，非有地私宅的租金在第二季增长更为强劲，主要是由于季度性因素导致租赁市场在4月和5月更活跃，因为许多在本地工作的外籍专业人士通常都会在这段时间重新确定租约。 　　戴德梁行执行董事（住宅）邓淑玮表示，虽然全球经济动荡使得被委派到我国的外籍专业人士减少，但高层外籍专业人士依然有能力租用豪华公寓，这带动了租赁市场的需求，使得豪华公寓的租金在第二季走高。 　　“在另一方面，那些外派配套中没有住房津贴、比较关心租金高低的中层外籍专业人士，则为月租3000至7000元的公寓提供了租赁需求。” 　　除此之外，随着买家气氛回升，私宅转售价格的动力也在第二季有所上扬，尤其是有地私宅。   　　有地私宅转售价的增幅高于非有地私宅，市区外地段的增速也比黄金地段高。在市区外地段，租赁地契排屋和永久地契有地私宅的转售价，季比分别上扬2％和1.2％，高于黄金地段的1％增幅。 　　至于非有地私宅，由于市区外地段的新项目定下了新的基准价格，使得许多买家转而关注转售市场，希望找到更物有所值的房产。 　　因此，黄金地段永久地契公寓的转售价季比上扬0.5％，扭转了第一季的0.7％跌幅。市区外租赁地契公寓的转售价也在第二季上扬0.6％，增幅高于第一季的0.3％。 　　豪华公寓的转售价则在第二季下跌了0.5％，跌幅较第一季的0.8％放缓。买家相信是已经逐渐开始接受去年12月推出的额外买方印花税，并重新回到市场。 　　戴德梁行亚太研究部主管蔡楚芬表示，在利率持续偏低和雇佣市场趋好的情况下，私宅的买方需求预计会维持在健康水平。 　　“不过，随着许多新项目充斥市场，市场对潜在买家和租户的争夺会加剧，这也会限制租金和转售价的涨幅，特别是在经济增长放缓的情况下。” 第二季止跌回升 私宅价格指数再攀历史新高 赵恺健 杨丹旭 (2012-07-03) 　　本地私宅价格在今年第二季止跌回升，指数再度攀升到206.8点的历史新高位。第二季组屋转售价的增幅则超越了第一季。 　　根据市区重建局最新的预估数据显示，第二季私宅价格上升了0.4％，从上一季的微跌0.1％出现了反弹。私宅价格指数则从206点上升到206.8点。 　　这意味着私宅价格指数在今年上半年微涨了0.3％。市场人士对于私宅价格低幅度的上涨并不感到意外，主要认为这是强劲销售以及低利率环境所推动的。 　　组屋转售价指数 第二季增长1.3％ 　　在组屋方面，继过去两个季度增长步伐放缓后，今年第二季的组屋转售价指数增长1.3％，超过今年首季0.6％。 　　建屋发展局昨早也公布预估数据，显示今年第二季的组屋转售价指数从第一季的191.6上扬至194.0，涨幅是1.3％。 　　这是组屋转售价指数增幅自去年第四季放缓以来，首次出现上调，不过这样的涨幅在过去三年里还是属于较低。 　　私宅方面，值得注意的一点是，发展商在今年第一季卖出1764个鞋盒公寓（面积不超过500平方英尺），为历史新高，当时引发了市场人士关注政府是否将针对鞋盒公寓推出降温措施。不过，第二季售出的鞋盒公寓的比率变少了。 　　智信研究与咨询（R’ST Research）总监王伽胜在受询时指出：“上季度大众私宅价格上涨了1.1％，部分原因是因为鞋盒单位与小型单位销售量剧增，多达27％是鞋盒单位，而根据我们观察，第二季的鞋盒单位销售量占了较低的比率。” 　　世邦魏理仕（CBRE）私宅部执行董事陈金道也指出，房屋转让禁令（caveat）记录显示了非有地私宅的中位数面积有所变大，从第一季的700平方 英尺上升到第二季的850平方英尺；在首季有超过71％售出的单位面积小于807平方英尺，而到了第二季只有46％是小于这个面积的。 　　在非有地私宅领域，代表高档私宅的核心中央区涨幅最大，从之前的下滑0.6％回弹，上升0.6％。代表中档私宅的其他中央区价格保持不变。大众私宅的中央区以外则上涨0.4％，不过比不上今年首季的1.1％涨幅。 　　高档私宅和大众私宅价格指数也是涨到了历史新高位。 　　陈金道指出，在第二季私宅供应和销量方面，都是大众私宅项目为主。销量最好的大众私宅项目是Ripple Bay、逸阁（FLO Residence）以及Palm Isles，平均售价介于每平方英尺850元至880元之间。 　　对于市场未来展望，市场人士大都预计私宅价格不会出现太大变化，只会出现相对平稳的微升。 　　另一方面，受访分析师认为，今年以来转售组屋的现金溢价中位数（Median COV）呈下跌趋势，吸引一些买家回到转售组屋市场，因此稍稍推动转售组屋价格。 　　博纳（PropNex）集团总裁伊斯迈说：“组屋转售价格第一季增长放缓，不符合购买预购组屋条件的人，例如单身者、永久居民、组屋提升者等进入市场选购转售组屋。” 　　不过他估计，组屋转售价已达高峰，下一季增幅将少于2％，年底前甚至可能出现负增长。 　　建屋局这个月还将另外推出5200个新组屋，它们分布在勿洛、红山、蔡厝港、金文泰、芽笼和榜鹅。今年上半年，建屋局已推出1万2703个预购组屋和3825个剩余组屋单位。 　　[e-mail] 　　[e-mail] 《联合早报》
A string of private housing launches around the corner	Business Times: Fri, Jul 06
[SINGAPORE] Developers are preparing a slew of private housing projects for release in the next few weeks, including V on Shenton on the former UIC Building site, Parc Olympia at Flora Drive in the Upper Changi area and Parc Centros near Punggol MRT Station. Next week, City Developments and Hong Realty are expected to roll out their Green Mark Platinum landed housing project, Haus@Serangoon Garden. The 99-year leasehold development will have 97 terrace houses. The homes are expected to cost $2.5 million-$3 million each. A typical intermediate terrace house will have land area of about 1,600 sq ft and built-up floor area of about 3,600 sq ft. Capitol Investments is also said to be mulling over the release of some of the 39 units at its Eden Residences Capitol, near City Hall MRT Station, perhaps later this month or early next month. The 99-year leasehold units - comprising three and four-bedders, as well as penthouses and garden villas - are on levels 3-11 of a new tower that will rise next to the landmark Capitol Theatre. The apartments will be opposite St Andrew's Cathedral; most units will enjoy views of Marina Bay. A typical three-bedroom apartment will be about 2,200 sq ft and a four-bedder, over 3,000 sq ft. Pricing for the apartments has yet to be fixed but some market watchers suggest it could touch $3,000 psf - given their unique positioning within Singapore's civic and cultural district. Eden Residences Capitol will be part of a mixed development (retail, theatre, hotel and residences) that will include the historic Capitol Theatre, Capitol Building and Stamford House - which are being conserved and restored for adaptive re-use. In the financial district, United Industrial Corporation is getting ready to release its V on Shenton (or Five on Shenton) towards the end of this month, BT understands. The project comprises 510 apartments in a tower that will rise to 54 storeys. Units range from studios to three-bedders; there will also be six penthouses. Word on the street is that the average pricing for the 99-year leasehold project could be in the $2,300-$2,500 psf range. Unit sizes are about 440-plus sq ft for studios, 880 sq ft for two-bedders, 1,000 sq ft for two-bedder-plus-study units and 1,500-1,750 sq ft for three-bedders. Penthouses range from around 3,300-7,000 sq ft. In addition to facilities like a swimming pool and club lounge (on the roof of the carpark podium), residents can use outdoor dining areas to host private parties (on level 24) and take in views from open-air landscaped gardens (on level 34). An indoor gym will be on the 35th level. V on Shenton is part of a mixed development that will include a 23-storey office tower. In the 99-year, mass-market condo segment, Koh Brothers is expected to preview next week its Parc Olympia project at Flora Drive. Observers say that pricing could average around $880-$900 psf. Near Punggol MRT Station, Wee Hur Holdings is expected to roll out Parc Centros within a fortnight. The pricing may be around $950 psf on average. The 16-storey condo will feature one to five-bedroom apartments as well as penthouses. Absolute prices start from about $550,000 for a 460-sq ft one-bedroom apartment, working out to about $1,195 psf. Meanwhile, Allgreen Properties is expected to release two projects over the next few months - the 928-unit Riversails at Upper Serangoon Crescent and The Sorrento on West Coast Road. The latter will be a five-storey, freehold project with 131 units (one to three-bedders). Average prices could be around $1,300-$1,400 psf. Riversails - an 18-storey, 99-year condo - will have one to four-bedroom apartments. The average price is expected to be around $850 psf. In the first five months of this year, developers sold 10,724 private homes, excluding executive condos. CBRE estimates that the figure for June could be around 1,100 units which could take the first-half figure to about 11,800 units. Assuming developers sell 3,000-4,000 units in each of Q3 and Q4, the full-year tally would be 17,800-19,800 units, according to CBRE's forecast. Developers sold 15,904 units in 2011 and a record 16,292 units in 2010. CBRE's executive director Joseph Tan said: "In the second half, we expect home prices to remain stable as developers continue to keep mass-market condo prices affordable at below $1,000 psf to move units; buyers will continue to be drawn to property investment as long as interest rates remain low." But rents could dip marginally later this year as more projects are completed, and the inflow of expats slows amid a global economic slowdown, he added. Urban Redevelopment Authority's flash estimate Q2 private home price index was up 0.3 per cent from Q4 last year. The index rose 5.9 per cent in 2011 and 17.6 per cent in 2010. Savills Singapore research head Alan Cheong expects developers to fast-track new residential launches ahead of potentially negative economic developments and the Hungry Ghosts Month, which begins on Aug 17. Source: Business Times