1) The most popular BTO Tampines flats in August 2022
bto sun plaza spring hdb flat tampines august 2022
According to CNA, Tampines BTO flats were the most popular during the August BTO 2022 exercise, with 3,082 applicants for 117 units.
Non-elderly applicants for 5-room Tampines August 2022 BTO flats submitted a total of 26.3 applications.
Five-room apartments are in high demand among buyers. According to Christine Sun of OrangTee and Tie, this could be due to fewer five-room flats being released in mature estates.
Tampines’ 150 four-room flats drew 3,347 applicants, for a 22.3 percent overall application rate.
Central Weave offers four-room, five-room, and three-generation units. Each AMK had more than eight candidates.
One Global Group Senior Analyst Mohan Sandrasegeran highlighted “lackluster” application rates for Havelock Hillside and Alexandra Vale, owing to prolonged completion schedules and Minimum Occupation Periods (MOP).
2) Sky Eden@Bedok debuts and sells 75% of its apartments.
On the first day of its introduction, September 7, 75% of Sky Eden@Bedok’s 158 units were sold.
According to Frasers Property Singapore, the 118 units were sold for $2,100 per square foot (psf).
All two-bedroom condos were sold, leaving 1,087 to 1,302 square feet of three- and four-bedroom units available.
The mixed-use building will contain 12 ground-floor stores by 2027.
According to Lorraine Shiow, Frasers Property Singapore’s Acting Chief Operating Officer for Residential, Sky Eden@Bedok’s accessible location in a mature estate has attracted homeowners.
According to The Business Times, Sky Eden@Bedok and Lentor Modern will “test the market” with suggested pricing of more than $2,000 psf.
3) The second tower of Perfect Ten has 55 units.
On September 10, the Straits Times reported that Cheung Kong Development Development’s freehold luxury property Perfect Ten opened 55 units in its second 115-unit tower in Bukit Timah.
Two-bedroom condos range in price from $2.1 million to $2.5 million, while three-bedroom condos range from $3.5 million to $4.1 million.
The 230-unit Perfect Ten sold 83%, or 96, of the 115 units in its first tower when it opened in December 2021.
46 of the 96 sold homes were three-bedrooms, with 44 selling for $4.2 million. Condos with two bedrooms cost $2.08 million.
“Many of our customers have young children. Perfect Ten is one of Singapore’s most desired projects due to its numerous benefits, including its proximity to prestigious institutions.
Singapore Chinese Girls’ School and Anglo-Chinese School (Barker Road).
4) Braddell View development causes buildings to vibrate.
The North-South Corridor and the new Mount Alvernia Hospital have sparked alarm among residents of Block 10D.
Vibrations and building sounds have been reported by residents.
“Your structure is on the verge of collapsing. My body is swaying. I feel it while lying down. Madam Christina Fong, 65, told CNA that it interferes with her sleep and career.
Many residents have accepted the inconvenience of the development.
We have little choice because the North-South Corridor is still under construction. This big job must be completed. Ms He is hoping that things would improve rapidly.
5) The first integrated construction park in Singapore will open in December.
According to CNA, Singapore will open its first integrated construction site in Jurong Port in December 2022.
This will make collaboration and resource and facility sharing easier.
According to National Development Minister Desmond Lee, the integrated construction park is part of a new Industry Transformation Map (ITM).
He claims that having construction facilities in one location will boost manufacturing efficiency.
BCA believes that this will result in a more efficient and environmentally friendly construction materials supply chain.
Conveyors might transport sand, cement, and stone instead of lorries.
6) Million-dollar condo sales are on pace to surpass last year’s high.
Despite a drop in demand for resale flats in August, property analysts predict that HDB resale apartments sold for more than $1 million in 2022 will outnumber those sold last year.
Vendors have no reason to lower their prices due to strong employment and income growth. New apartments in older estates may approach the million-dollar mark. Christine Sun, SVP of Research and Analytics at OrangeTee & Tie, forecasts more million-dollar transactions in the coming months.
Where will the next million-dollar HDB property be located?
Sze Tech Lee, Research Head at Huttons Asia, forecasts 350 $1 million HDB resale transactions this year. Despite a drop in overall HDB sales, 33 units sold for $1 million or more in August.
PropNex Realty’s Head of Research and Content, Siew Ying Wong, reported that 232 $1 million HDB units were resold by August, with 11 more sold in September.
Worth It to Buy a Million-Dollar HDB Flat in Woodlands? 5 Singaporeans
7) $170 million serviced Orchard Road apartment
The freehold serviced apartment complex 18 Mount Elizabeth is for sale via expression of interest (EOI) with a recommended price of $170 million.
The complex, which was restored in 2017, comprises 98 studio, one-, and two-bedroom units and is classed as “Residential” in the 2019 Master Plan. That works out to $1.73 million per unit.
It is close to the MRT stations of Orchard, Somerset, and Newton.
Swee Shou Fern, Edmund Tie’s head of investment advisory, stated that serviced flats have shown to be a resilient asset class during the COVID pandemic.
Serviced apartments provide greater space than hotels and are popular with expats as well as longer-term corporate and leisure guests.
The EOI for serviced apartments closes on October 7.
8) Singapore is looking for fresh HSR bids.
According to CNA, Singapore’s Deputy Prime Minister Lawrence Wong stated that Singapore is open to new suggestions from Malaysia about the abandoned Singapore-Kuala Lumpur High-Speed Rail (HSR) project.
On September 5, Singapore’s Deputy Prime Minister and Finance Minister, Wong, undertook his first official visit to Malaysia.
After multiple postponements at Malaysia’s request and the expiration of an agreement in December 2020, the HSR project was halted.
Malaysia paid Singapore $102 million to terminate the project.
Seven shop units in Sim Lim Square for $17 million
Huttons Asia has listed seven retail spaces at Sim Lim Square via private treaty for $17 million.
The 5,156-square-foot portfolio is permitted to operate until 3 a.m. under class one entertainment licences.
According to James Wong, Head of Sales and Auction at Huttons Asia, these retail shops are ideal for astute investors and nightlife business owners looking for rental yield or acceptable venues.
Huttons Asia’s senior research director, Lee Sze Teck, emphasized the portfolio’s 4% rental income.
Investors can expect a consistent rental income with a master tenancy of more than five years.
Retail units can be purchased individually or as part of a portfolio, according to Huttons.
10) Earnings at prime malls will not reach 2019 levels until 2020.
Covid-19’s shopping center
Despite the economic rebound, top retail mall profitability may take longer to reach 2019 levels, according to Fitch Solutions.
This, according to the analyst, is due to a lack of Chinese tourists. These factors have an impact on the malls owned by Starhill Global REITs (REITs).
Foreign visitors and locals returning to work are expected to enhance retail REIT profitability during the next six to twelve months.
According to Fitch, which expects most Singapore REITS to remain resilient next year, prime office assets will benefit from a flight to quality as hybrid working, rising unemployment, and a bad investment mood limit growth.
Because of their flexible financing, healthy leverage, and lower risk to rising interest rates and electricity expenditures.
Fitch anticipates few rating changes in the next 12 months. Singapore’s industrial and logistics REITs were identified as the most resilient.