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8/3/2019 Singapore Property Weekly Issue 33
1/20
Issue 33
Copyright 2011-2012 www.Propwise.sg. All Rights Reserved.
8/3/2019 Singapore Property Weekly Issue 33
2/20
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CONTENTSp2 Singapore Property News This Weekp9 Understanding Singapore
REITS REIT Categories
p17 Resale Property Transactions
(December 17 December 23)
p19 Singapore Property Classifieds #22
Welcome tothe 33th edition
ofthe Singapore Property
Weekly.
Hope you like it!
Mr. Propwise
FROM THE
EDITOR
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Singapore Property This Week
Page | 2Back to Contents
Residential
Resales and private home prices expected
to fall this year
2011 Q4s estimates did not bode well for
2012s private homes and resale flats prices. According to URAs private residential
property price index, there was only a 0.2%
increase from Q3 to Q4 2011, much lower
than the 1.3 % increase from Q2 to Q3.
With the uncertain economy and the newly
implemented cooling measures, prices areexpected to fall but how much they will fall is
the question. Developers have to lower the
prices but need to adjust it to the right level so
that buyers will be attracted without expecting
too much.
With the ABSD, the private residential
property price index for 2012 is expected to
fall by 10-15%, with the luxury sector suffering
the worst since most buyers in this sector are
foreigners who have to pay the 10% ABSD.Overall demand may also fall by 15-20%,
leading to a 10-15% fall in prices of homes in
the luxury sector and a 5-10% fall for mass-
market condos.
While the price index for non-landed homes in
Outside Central Region was the highest
relative to other sectors, the 0.6% increase
from Q3 to Q 4 was much smaller than the
earlier increase of 2.1%.
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Prices had earlier rose quickly as there was
high demand from investors and HDB
upgraders. The price index for non-landedhomes in CCR has also increase by 0.5%
from Q3 to Q4, slight lower than the earlier
0.7%. Likewise, the rise in HDB resale flat
prices was also smaller in Q4, 1.7%
compared to the earlier increase of 3.8%.
The demand of HDB resale has fallen with theincrease in supply of Build-To-Order (BTO)
flats and the increase in income ceiling for
buyers, leading more buyers to turn to BTO
flats instead. Since the cash over valuations
had stabilised in Q4 2011, it may fall by 5-8%
should there be a recession in 2012. The fallmay be worse if a higher percentage of BTO
flats are allocated to second-time buyers,
since it will draw even more buyers away from
purchasing HDB resales. However, if there is
no recession, the prices may still rise by 3-
5%.
Abundant projects launched before
Chinese New Year
The period before Chinese New Year, usually
a slow period for project launches finds itself
overwhelmed this year with several launches.
Projects launched include Qingjian Groups99-year leasehold condominium Riversound
Residence, City Developments Ltd (CDL)s
economic condominium (EC) The Rainforest
and Low Keng Huat (LKH)s Design, Build and
Sell Scheme project Parkland Residences.
This may be due to the recent introduction of
the ABSD and the governments statement
that measures will be introduced to stabilise
the property market.
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Developers may be launching their projects
earlier for fear of new cooling measures and
potential financial loss. It may also be to test
the reactions of buyers to the cooling
measures by offering projects with attractive
prices and amenities.
For example, the 680-unit Parkland
Residences located near Upper Serangoon
Road has four 18-storey towers which house
721 sq ft three-room flats, 990 sq ft four-room
flats, 1,173 sq ft five-room flats and 1,206 sq
ft five-room premium flats consisting of four
bedrooms with price ranges of $359,000 to
$404,000, $485,000 to $571,000, $606,000 to
$676,000 and $608,000 to $706,000
respectively. While affordably priced, it may
not be enough to sway buyers deciding
between flats, DBSS flats or ECs. The e-
applications for Parkland Residences will end
on Jan 10.
466-unit The Rainforest located near ChoaChu Kang Avenue 3 is offering 818 to 1,033
sq ft two-bedroom plus study units, 947 sq ft
three-bedroom unit and 1,238 sq ft four-
bedroom units at prices from around
$601,000, $688,000 and $896,000
respectively; prices attractive to upgraders. It
also offers penthouses with sizes ranging
from 1,819 to 2,174 sq ft. Applications are
open till Jan 9 with bookings on Jan 11.
590-unit Riversound Residence located at
Sengkang East Avenue consists of six 18-
storey blocks housing 452 sq ft one-bedroomunits; 1,184 sq ft three-bedroom dual-key
units and 2,508 to 2,734 sq ft four-bedroom
penthouse units at an average price of $850
psf before early-bird discounts.
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Buyers reaction to ABSD: return units to
developers
Some buyers of projects launched in
November and early December have returned
the units to the developers, likely a result of
the ABSD. These buyers would have to give
up 1.25% of the units price but may be willing
to do so if they foresee a steep decline of
private home prices.
4% of buyers at CapitaLand's Bedok
Residences and The Palette condo at Pasir
Ris chose not to exercise their options. 12%
of the buyers at Archipelago condo have also
returned their units to the developer. The
higher percentage of units being returned forthe Archipelago may be due to the relative
longer period of time for buyers to exercise
their options, having been launched later than
the former two projects.
49% of EC resale transactions made by
foreigners
In the first 11 months of 2011, foreigners
including PRs bought a total of 383 resale
ECs or 49% of the 775 resale transactions.
There were 108 transactions made by non-PR
foreigners, most of whom were PRC and
Indian nationals with 70 and 19 transactions
respectively. This is likely due to EC resaleprices being a good 13% lower than that of
private resale homes located in the same
region.
Developers have also sold 2,058 EC units,
breaking both new sales and total
transactions record. The record sales werelikely due to the high prices of condominium
units, leading buyers to turn to ECs instead,
since ECs are more affordable with their
prices 20-25% lower than those of
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99-year-leasehold condos located in the same
region. Furthermore, ECs are more attractive
since they are larger in size (900 to 1,300 sqft) and hence more family-friendly.
With the raising of the income ceiling of ECs
to $12,000, demand for ECs is likely to
continue increasing. However, some buyers
may choose to buy private housing instead,
anticipating a price fall with the introduction ofcooling measures in the private sector,
upcoming influx of supply and the uncertain
economy.
Commercial
Rents in malls to remain stable in Q1 2012,
but may fall later
After two years of boom from strong economic
growth, rental rates in the malls may either
remain stagnant or fall in 2012. An economic
slowdown in 2012 is expected, with
businesses dealing with the necessities
holding more strongly than businesses sellingluxurious items. Suburban rents have
increased in Q3 2011 by 2.9% to $29.75 psf
per month but rents in prime downtown
locations like Orchard had remained
stagnated at $31.60 psf per month in Q4
2011.
Consultants generally agree that rents may be
stable in Q1 2012, but may fall later as
consumers spend less and retail suffers,
stagnating rental growth. There could be a
10% adjustment in rents, but more popular
malls and prime retail space may not beaffected as much. While rents in prime retail
areas tend to increase more when the
economy is good, they also suffer greater fall
during economic downturns,
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unlike suburban malls which are more
resistant as there are less competition.
There is also an upcoming supply of 756,000
sq ft worth of retail space, 38% of which are
from suburban malls. This increase in supply,
added to the tenants unwillingness to accept
rent hikes, will likely hamper the growth of
rental rates.
EOI exercise held for six adjacent Little
India shophouses
An expression-of-interest exercise is being
held for six conjoined three-storey
shophouses located Syed Alwi Road in Little
India. The total floor area on the threeadjacent freehold plots with a total area of
8,138 sq ft came up to 18,500 sq ft and has
an indicative price of $24-25 million, or about
$1,297 psf. It will likely attract investors
looking to invest in alternative sectors after
the cooling measures in the residential
sectors, as well as hoteliers looking to turn
these shophouses into a backpackers' hostelor boutique hotel. These shophouses built in
1950s currently serves two purposes retail
of hardware and bicycles on the first level,
and homes on the remaining two levels. The
exercise will close at 3pm on Jan 19.
Investors may not turn to industrial sector
as a result ofABSD
There have been fears that the cooling
measures introduced in the residential sector
would result in investors turning their attention
to the industrial sector. However, this may not
necessarily happen, judging by reactions to
past cooling measures. For example, an
earlier increase in the SSD rate resulted in a
31% increase of sales in the industrial sector
but the increase in proportion of companies
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buying at 34% far exceeds the increase in
proportion of Singaporeans buying at 21%.
Even after the introduction of several cooling
measures over the past years, 70% of
industrial strata units transacted were
purchased by companies, with the remaining
25% and 5% by Singaporeans and foreigners
respectively.
Even when the number of Singaporeans
purchasing such units has increased, the
proportion has decreased from 35% in Q2
2009 to 21.8% in Q3 2011. This is likely due
to the higher risk involved with the shorter
tenure, and their lack of understanding of the
sector and the restriction on using CPF forindustrial property. Furthermore, they have to
pay GST and interest rates for industrial
properties are also much higher.
Freehold ELDIX, an industrial
development, launched by EL
Development
EL Development has launched ELDIX, a
freehold industrial development located at No
11 Mandai Estate. The 169-unit development
zoned Business 1 consists of units with worth
of space, and most comes with a 6m ceiling
height. Units in the 169-unit development
range from 1,388 sq ft to 1,862 sq ft in size,
most having a 6m ceiling height and a 10
kilonewton per sqm floor loading provision
and those on the first to 11th floors are
accessible by vehicles with the help of a 20-
foot ramp. The price of $470 psf is less than20% higher than leasehold prices, considered
reasonable since freehold strata-titled
industrial developments are uncommon.
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Understanding Singapore REITS REIT Categories
By Calvin Yeo (reproduced with permission
from his blog
www.investinpassiveincome.com)
Before we begin, lets start with the definition
of REITs. RE
ITs are corporate entities which
invest primarily in real estate and have
various tax benefits. To qualify for the tax
benefits, a REIT is required to distribute at
least 90% of their taxable income to unit
holders. This rule is very important as since
most of the profits are paid out as dividends,
REITs do not retain much of the profits for
debt redemptions, asset enhancement
initiatives (AEIs) or acquisitions.
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The first thing to understand about Singapore
REITs (SREITs) is that they invest in different
types of properties. The classes of propertiesinclude office, retail, office/retail hybrids,
industrial, healthcare, hospitality and
residential. Each class is very different from
one another, and have varying rental yields,
defensiveness of rentals, prospects for rental
increases, Weighted Average Lease Expiry(WALE) periods, leverage ratios and so on.
Healthcare REITS Very High
Defensiveness / Medium Dividend Yields /
Very Long WALE
Examples: Parkway Life REIT, First REIT
Healthcare REITs are the most defensive
REITs on the Singapore Stock Exchange.
However, there are only 2 healthcare REITs
listed currently: Parkway and First.
Healthcare REITs have extremely long leases
with hospitals, ranging from 10-20 yearleases. These leases may also have
guaranteed rental increases built in, hence
the upside for these REITs are also
guaranteed regardless of the economic
environment.
Healthcare is a basic necessity which cannot
be foregone no matter how bad the economy
is as people still need to go to hospitals and
see doctors. First REIT focuses on
Indonesian hospitals; however, the rentals are
denominated in Singapore Dollars, so there is
little foreign exchange risk. Healthcare REITs
should be a part of everybodys stock
portfolio.
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Industrial REITS (General Industrials /
Warehousing) Medium Defensiveness /
High Dividend Yields / Long WALE
Examples: Ascendas REITs, Cache Logistics
Trust, Cambridge Industrial Trust, Mapletree
Logistics Trust, Mapletree Industrial Trust,
Sabana REIT.
Industrial REITs are a good balance of
defensiveness and high dividend yields of
between 6%-10%. Industrial REITs can be
loosely categorized into 2 types: general
industrial properties and warehousing
properties. REITs like Cambridge Industrial
Trust, Mapletree Industrial Trust are more
focused on general industrial properties,
which are mostly used for manufacturing
purposes. REITs like Cache, Mapletree
Logistics Trust are focused on warehousing
properties which typically serve logistics
purposes.
The difference between the two usually lies in
the WALE. Warehousing trusts typically have
longer WALEs of 5 years or longer, while
general industrial REITs may have WALEs of
3-4 years. Warehousing trusts are therefore
usually more resilient, but the tradeoff is
rentals are locked in for longer periods, and
hence they may not be able to takeadvantage of a rising rental environment.
Retail REITS High Defensiveness /
Medium Dividend Yields / Medium WALE
Examples: CapitaMall Trust, Fraser
Centerpoint Trust, LippoMall (Indonesia Only)
Retail REITs are very defensive, in particular
the REITs which are purely suburban mall
plays such as Fraser Centerpoint Trust. Even
in a downturn, shoppers still need to go
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shopping and buy their daily necessities, eat
and watch movies etc.
Typical dividend yields for retail REITs stand
at about 5%-7%. What you give up in yields,
you get in terms of resilience of rentals and
hence stable distributions. For investors who
are highly risk-averse, retail REITs are one of
the top choices. In fact, even during the
2008/2009 period, retail rentals did not reallydrop and occupancy rate remained high for
most of the shopping malls.
It is also quite easy to determine the
performance of the properties under the
REITs, you just go shopping in them! Theres
nothing better than a physical site inspection
to ensure the malls are well run, have brisk
business for tenants, crowd traffic is good and
so on. Retail REITs also tend to benefit a lot
from asset enhancement initiatives (AEI) as
seen from the recent asset enhancements at
Causway Point to update the mall and make it
more attractive, bringing more visitors andraising the rentals as well.
Office REITS Low-Medium
Defensiveness / Medium-High Dividend
Yields / Medium WALE
Examples: Frasers Commercial Trust,
CapitaCommercialTrust, Keppel REIT
Office REITs are generally one of the least
defensive REITs you can invest in. Office
assets typically suffer from oversupply in
Singapore. Suitable office locations are
mushrooming all around Singapore and manycompanies these days may not see the need
to be located in the city.
Even Grade A offices may lose substantial
tenants as many companies choose to cut
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costs when the rental gets too expensive in
the city center. Another factor to consider is
that many of the tenants in the city areEuropean/American financial companies
which are bearing the brunt of this 2008-2011
financial crisis, hence downsizing is possible.
In the 2008/2009 financial crisis, office rental
yields dropped substantially, affecting
distributions dramatically.
Retail / Office Hybrid REITS Medium-
High Defensiveness / Medium-High
Dividend Yields / Medium WALE
Examples: Mapletree Commercial Trust,
Starhill REIT, Suntec REIT
As the name suggests, these REITs are
typically integrated developments which have
both offices (and sometimes residential) on
top of the shopping mall like Vivocity, Suntec
etc. Depending on how much of the rental is
derived from the office versus the shopping
mall, the defensiveness and yields lie in
between that of offices and retail.Mapletree Commercial Trust has Vivocity as
the key asset, Starhill has Takashimaya and
Wisma Atria and Suntec REIT has Suntec
Convention Center and Shopping Mall. Hybrid
REITs are good to own especially if you have
limited capital as the REIT itself alreadybenefits from being diversified with
Retail/Office/Residential assets. You get
defensive qualities of the retail and still enjoy
large upside on office rentals when the
economy booms.
Hospitality REITS Low Defensiveness /High Dividend Yields / Low WALE
Examples: Ascott REIT, CDL HospitalityTrust
Hospitality REITs are typically made up of
hotels and serviced residences.
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These REITs are probably the most cyclical of
all the REITs as hotel occupancy rates are
based on tourist arrivals.
Ascott REIT has a large percentage of its
portfolio worldwide and is thus more subject to
the global economy. CDL Hospitality Trust on
the other hand is more focused on Singapore
hotels. Given the huge boost in tourist arrivals
from the two Casinos, first F1 night race in theworld and many other initiatives, tourist
arrivals to Singapore look poised to continue
booming.
However, a global downturn may dampen
tourism as well. For CDL Hospitality in
particular, it does not make sense to look at
WALE, but at average occupancy rates and
average room rates as key metrics instead.
Both are key beneficiaries if global tourism
industry is to improve.
Residential REITS Low-Medium
Defensiveness / Low-High Dividend Yields /
Short WALE
Example: Saizen REIT(Japan Only)
Saizen REIT is the only pure play residential
REIT listed on the Singapore exchange. My
experience with Singapore rental properties
that lease expiry profiles are low, with many
tenants leaving after the 1 year contract is up.
With the high tenant turnover in residential
properties in Singapore, I hardly think they
make good investments for REITs. Hence
Saizen REIT only invests in Japanese
residential properties.
While I am not familiar with Japanese
properties, what I hear is that many Japanese
do not have the means to buy houses and
hence may rent a house for most of their lives,
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unlike Singaporeans who can buy affordable
HDBs. However, Saizen has defaulted on a
loan before, incurring extremely high defaultcosts. You should study the REIT very
carefully if you are interested.
SREITs Summary
So in summary, ranking by various qualities:
y
Defensiveness (From Highest to Lowest) Healthcare, Retail, Retail/Office Hybrid,
Industrial, Office, Residential, Hospitality
y Dividend Yields (From Highest to Lowest)
Hospitality, Residential, Office,
Industrial, Retail/Office Hybrid, Retail,
Healthcar
y Weighted Average Lease Expiry (WALE)
(From Highest to Lowest) - Healthcare,
I
ndustrial, Retail, Retail/Office Hybrid,Office, Residential, Hospitality
You can see dividend yield is pretty much
inversely correlated to defensiveness.
Please note that this is just a general guide as
REITs may have different risk levels due to
other factors like strong sponsors, access to
capital, debt rating, leverage ratio, quality of
management, location of properties and so
on.
Further analysis is required to understand the
REITs before investing.
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Different categories of REITs offer different
qualities you may be interested in. A good
portfolio should always be diversified with
different kinds of REITs. Now that you
understand the categories better, you can
tweak your portfolio percentages based on
your risk profile. For example, if you are more
risk adverse, you may want to have a higher
percentage of your portfolio in healthcare and
retail. If you are willing to take more risks, you
may want to have a higher percentage of your
portfolio in industrial, office and hospitality.
Calvin Yeo is the founder of the Making
Passive Income blog. He graduated with a
Business Major in Finance and Accounting
and spent a few years working in an
investment bank. The knowledge from his
studies and working ex perience serve as a
good base for him to grasp the ideas for
passive income generation.
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Non-Landed Residential Resale Property Transactions for the Week ofDec 17 Dec 23
PostalDistrict
Project Name Area(sqft)
TransactedPrice ($)
Price($ psf)
Tenure
1 MARINA BAY RESIDENCES 732 1,815,360 2,480 99
2 LUMIERE 657 1,369,560 2,086 99
3 TWIN REGENCY 1,227 1,600,000 1,304 FH
3 ENG HOON MANSIONS 1,066 1,120,000 1,051 FH
4 MARINA COLLECTION 2,185 6,118,000 2,800 99
4 MARINA COLLECTION 2,185 6,118,000 2,800 99
4 MARINA COLLECTION 1,873 5,244,400 2,800 99
4 MARINA COLLECTION 1,873 4,869,800 2,600 99
4 HARBOUR VIEW TOWERS 797 1,218,800 1,530 99
4 THE PEARL @MOUNT FABER 1,389 1,445,000 1,041 99
5 NORMANTON PARK 1,270 1,260,000 992 99
5 BOTANNIA 1,636 1,580,000 966 956
5 CLEMENTIWOODS CONDOMINIUM 2,486 2,200,000 885 99
7 BURLINGTON SQUARE 1,119 1,433,000 1,280 99
8 CITY SQUARE RESIDENCES 861 1,470,000 1,707 FH
8 CITYLIGHTS 721 1,050,000 1,456 99
8 PRISTINE HEIGHTS 1,356 1,350,888 996 FH
9 RHAPSODY ON MOUNT ELIZABETH 1,044 2,180,000 2,088 FH
9 THE IMPERIAL 1,916 3,750,000 1,957 FH
9 YONG AN PARK 1,023 1,750,000 1,711 FH
9 THE ABODE AT DEVONSHIRE 1,119 1,850,000 1,653 FH
9 TIARA 1,281 2,030,000 1,585 FH
9 TIARA 1,345 2,000,000 1,486 FH
10 ARDMORE II 2,024 5,208,888 2,574 FH
PostalDistrict
Project Name Area(sqft)
TransactedPrice ($)
Price($ psf)
Tenure
10 GRANGE RESIDENCES 2,583 6,100,000 2,361 FH
10 LATITUDE 2,917 6,007,800 2,060 FH
10 GARDENVILLE 1,755 3,175,000 1,810 FH
10 BELMOND GREEN 1,281 2,100,000 1,639 FH
10 ONE JERVOIS 1,087 1,750,000 1,610 FH
10 MILL POINT 915 1,365,000 1,492 999
10 KASTURINA LODGE 1,044 1,425,000 1,365 FH
12 CASA FORTUNA 1,076 1,300,000 1,208 FH
12 DE PARADISO 1,238 1,346,000 1,087 FH
12 TWIN HEIGHTS 1,238 1,200,000 969 FH
12 ST MICHAEL'S PLACE 1,227 1,050,088 856 FH
12 ST MICHAEL'S PLACE 1,259 1,000,000 794 FH
14 CITY PLAZA 915 820,000 896 FH
14 PALM LODGE 1,528 1,250,000 818 FH
14 SIMSVILLE 1,528 1,150,000 752 99
14 WING FONG COURT 1,098 680,000 619 FH
1 5 AALTO 1,442 2,418,000 1,676 FH
15 IMPERIAL HEIGHTS 452 720,000 1,593 FH
15 THE SEA VIEW 1,518 2,280,000 1,502 FH
15 RIVEREDGE 1,012 1,400,000 1,384 99
15 GRAND DUCHESS AT ST PATRICK'S 1,389 1,850,000 1,332 FH
15 THE ESTA 1,561 2,008,888 1,287 FH
15 TIERRA VUE 1,270 1,550,000 1,220 FH
15 PEBBLE BAY 1,894 2,216,000 1,170 99
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NOTE: This data only covers non-landed residential resale propertytransactions with caveats lodged with theSingapore LandAuthority. Typically, caveats are lodged at least 2-3 weeks after apurchaser signs an OTP, hence the lagged nature of the data.
Postal
DistrictProject Name
Area
(sqft)
Transacted
Price ($)
Price
($ psf)Tenure
1 5 HAIG COURT 1,076 1,190,000 1,106 FH
15 MOUNTBATTEN REGENCY 1,130 1,250,000 1,106 FH
15 FERNWOOD TOWERS 1,195 1,322,000 1,106 FH
15 EASTBAY 1,561 1,660,000 1,064 FH
15 CRANE COURT 969 930,000 960 FH
15 MANDARIN GARDEN CONDOMINIUM 1,528 1,450,000 949 99
15 GALLERY 8 1,216 1,040,000 855 FH
15 VILLA MARINA 1,679 1,400,000 834 99
16 COSTA DEL SOL 1,345 1,800,000 1,338 99
16 COUNTRY PARK CONDOMINIUM 1,098 1,275,000 1,161 FH
16 CASA MERAH 1,528 1,660,000 1,086 9916 BAYSHORE PARK 936 860,000 918 99
16 PARBURY HILL CONDOMINIUM 1,453 1,300,000 895 FH
16 CHANGI COURT 1,389 1,180,000 850 FH
17 CARISSA PARK CONDOMINIUM 926 905,000 978 FH
17 ESTELLA GARDENS 1,292 980,000 759 FH
17 LOYANG VALLEY 1,421 940,000 662 99
19 SUITES @ KOVAN 366 525,000 1,435 FH
19 THE QUARTZ 1,216 1,155,000 950 99
19 BAYOU RESIDENCE 1,109 980,000 884 FH
19 KENSINGTON PARK CONDOMINIUM 2,153 1,900,000 883 999
19 CHERRYHILL 1,453 1,190,000 819 FH
19 EVERGREEN PARK 1,012 828,000 818 99
19 EVERGREEN PARK 1,173 890,000 759 99
21 MAPLEWOODS 2,530 3,100,000 1,226 FH
21 MEADOWLODGE 1,216 1,340,000 1,102 99
21 SYMPHONY HEIGHTS 1,281 1,250,000 976 FH
Postal
DistrictProject Name
Area
(sqft)
Transacted
Price ($)
Price
($ psf)Tenure
21 PANDAN VALLEY 2,185 1,975,000 904 FH
21 KISMIS COURT 2,131 925,000 434 99
22 PARCOASIS 1,227 1,120,000 913 99
23 REGENT HEIGHTS 1,023 800,000 782 99
23 PARKVIEW APARTMENTS 1,087 790,000 727 99
23 REGENT HEIGHTS 1,173 810,000 690 99
23 NORTHVALE 2,702 1,230,000 455 99
25 ROSEWOOD 1,173 866,500 739 99
26 HONG HENG MANSIONS 1,302 865,000 664 FH
28 SELETAR SPRINGS CONDOMINIUM 1,582 1,230,000 777 99
8/3/2019 Singapore Property Weekly Issue 33
20/20
Singapore Property Classifieds #22ForSale
SINGAPORE PROPERTY WEEKLY Issue 33
Page | 19Back to Contents
Soho@Central, #09- ,soho1/wloft/635sf/vacant/mgt fee $975/quart/ask$2280psf/avail for rent 5.5$K(neg). CallS.Ganesh 91732881 for viewing!
Off@Central,#19-/3246sf(apx),tnted/rent25k/maint $2,268pm/ask $2950psf neg.View of Marina BaySands. Call S.Ganesh
91732881 for viewing!
Luma/New/1153sf/3br+balcony/8F/rent$5,500(low asking)/partial/nego/also availfor sale $2000psf neg/CallS.Ganesh91732881 for viewing!
For Rent