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 非有地私宅租金增長 第二季較第一季強勁 （2012-07-06） 早報導讀 華京京　報道 [e-mail]   戴德梁行表示，非有地私宅的租金在第二季增長更為強勁，主要是由於季度性因素導致租賃市場在4月和5月更活躍，因為許多在本地工作的外籍專業人士通常都會在這段時間重新確定租約。 　　戴德梁行（DTZ）指出，非有地私宅的租金在今年第二季增長較第一季強勁，市區外地段公寓的租金季比上揚1.9％，黃金地段公寓的租金季比上揚1.5％。 　　相比之下，市區外地段公寓的租金在第一季的增幅是0.6％，黃金地段公寓的租金在第一季則沒有增長。 　　戴德梁行表示，非有地私宅的租金在第二季增長更為強勁，主要是由於季度性因素導致租賃市場在4月和5月更活躍，因為許多在本地工作的外籍專業人士通常都會在這段時間重新確定租約。 　　戴德梁行執行董事（住宅）鄧淑瑋表示，雖然全球經濟動蕩使得被委派到我國的外籍專業人士減少，但高層外籍專業人士依然有能力租用豪華公寓，這帶動了租賃市場的需求，使得豪華公寓的租金在第二季走高。 　　“在另一方麵，那些外派配套中沒有住房津貼、比較關心租金高低的中層外籍專業人士，則為月租3000至7000元的公寓提供了租賃需求。” 　　除此之外，隨著買家氣氛回升，私宅轉售價格的動力也在第二季有所上揚，尤其是有地私宅。   　　有地私宅轉售價的增幅高於非有地私宅，市區外地段的增速也比黃金地段高。在市區外地段，租賃地契排屋和永久地契有地私宅的轉售價，季比分別上揚2％和1.2％，高於黃金地段的1％增幅。 　　至於非有地私宅，由於市區外地段的新項目定下了新的基準價格，使得許多買家轉而關注轉售市場，希望找到更物有所值的房產。 　　因此，黃金地段永久地契公寓的轉售價季比上揚0.5％，扭轉了第一季的0.7％跌幅。市區外租賃地契公寓的轉售價也在第二季上揚0.6％，增幅高於第一季的0.3％。 　　豪華公寓的轉售價則在第二季下跌了0.5％，跌幅較第一季的0.8％放緩。買家相信是已經逐漸開始接受去年12月推出的額外買方印花稅，並重新回到市場。 　　戴德梁行亞太研究部主管蔡楚芬表示，在利率持續偏低和雇傭市場趨好的情況下，私宅的買方需求預計會維持在健康水平。 　　“不過，隨著許多新項目充斥市場，市場對潛在買家和租戶的爭奪會加劇，這也會限製租金和轉售價的漲幅，特別是在經濟增長放緩的情況下。” 第二季止跌回升 私宅價格指數再攀曆史新高 趙愷健 楊丹旭 (2012-07-03) 　　本地私宅價格在今年第二季止跌回升，指數再度攀升到206.8點的曆史新高位。第二季組屋轉售價的增幅則超越了第一季。 　　根據市區重建局最新的預估數據顯示，第二季私宅價格上升了0.4％，從上一季的微跌0.1％出現了反彈。私宅價格指數則從206點上升到206.8點。 　　這意味著私宅價格指數在今年上半年微漲了0.3％。市場人士對於私宅價格低幅度的上漲並不感到意外，主要認為這是強勁銷售以及低利率環境所推動的。 　　組屋轉售價指數 第二季增長1.3％ 　　在組屋方麵，繼過去兩個季度增長步伐放緩後，今年第二季的組屋轉售價指數增長1.3％，超過今年首季0.6％。 　　建屋發展局昨早也公布預估數據，顯示今年第二季的組屋轉售價指數從第一季的191.6上揚至194.0，漲幅是1.3％。 　　這是組屋轉售價指數增幅自去年第四季放緩以來，首次出現上調，不過這樣的漲幅在過去三年裏還是屬於較低。 　　私宅方麵，值得注意的一點是，發展商在今年第一季賣出1764個鞋盒公寓（麵積不超過500平方英尺），為曆史新高，當時引發了市場人士關注政府是否將針對鞋盒公寓推出降溫措施。不過，第二季售出的鞋盒公寓的比率變少了。 　　智信研究與谘詢（R’ST Research）總監王伽勝在受詢時指出：“上季度大眾私宅價格上漲了1.1％，部分原因是因為鞋盒單位與小型單位銷售量劇增，多達27％是鞋盒單位，而根據我們觀察，第二季的鞋盒單位銷售量占了較低的比率。” 　　世邦魏理仕（CBRE）私宅部執行董事陳金道也指出，房屋轉讓禁令（caveat）記錄顯示了非有地私宅的中位數麵積有所變大，從第一季的700平方 英尺上升到第二季的850平方英尺；在首季有超過71％售出的單位麵積小於807平方英尺，而到了第二季隻有46％是小於這個麵積的。 　　在非有地私宅領域，代表高檔私宅的核心中央區漲幅最大，從之前的下滑0.6％回彈，上升0.6％。代表中檔私宅的其他中央區價格保持不變。大眾私宅的中央區以外則上漲0.4％，不過比不上今年首季的1.1％漲幅。 　　高檔私宅和大眾私宅價格指數也是漲到了曆史新高位。 　　陳金道指出，在第二季私宅供應和銷量方麵，都是大眾私宅項目為主。銷量最好的大眾私宅項目是Ripple Bay、逸閣（FLO Residence）以及Palm Isles，平均售價介於每平方英尺850元至880元之間。 　　對於市場未來展望，市場人士大都預計私宅價格不會出現太大變化，隻會出現相對平穩的微升。 　　另一方麵，受訪分析師認為，今年以來轉售組屋的現金溢價中位數（Median COV）呈下跌趨勢，吸引一些買家回到轉售組屋市場，因此稍稍推動轉售組屋價格。 　　博納（PropNex）集團總裁伊斯邁說：“組屋轉售價格第一季增長放緩，不符合購買預購組屋條件的人，例如單身者、永久居民、組屋提升者等進入市場選購轉售組屋。” 　　不過他估計，組屋轉售價已達高峰，下一季增幅將少於2％，年底前甚至可能出現負增長。 　　建屋局這個月還將另外推出5200個新組屋，它們分布在勿洛、紅山、蔡厝港、金文泰、芽籠和榜鵝。今年上半年，建屋局已推出1萬2703個預購組屋和3825個剩餘組屋單位。 　　[e-mail] 　　[e-mail] 《聯合早報》
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