Category Archives: Blogging

Hundred Palms Residences by Hoi Hup Yio Chu Kang

Hundred Palms Residences is an Executive Condominium launching in 2017 by Hoi Hup Realty. It is located along Yio Chu Kang Road right next to Regentville. Parents with children going to Primary school will love the fact that Hundred Palms Residences is withing 1KM radius from the prestigious Rosyth School which is top 20th school in Singapore.

It has been long since there is a launch like this and many are looking forward to this development. Especially those buyers who wish to break away from the usual EC location such as Punggol, Sengkang, Woodlands and Sembawang.

Hundred Palms Residences will have a total of 532 exclusive EC units on 9 tower blocks. Each of these block is 15 storey high. There are amenities in close proximity with the Hougang New Town, Hougang MRT Station, Bus Interchange and Hougang Shopping Mall.

The highly anticipated new executive condo launch at Yio Chu Kang Road, Hundred Palms Residences by Hoi Hup Realty, is expected to be revealed in 3rd quarter 2017. This new ec launch near to Hougang MRT is expected attract overwhelming response from EC buyers, both first timers as well as HDB upgraders. Hoi Hup Realty has successfully bidded for the new executive condo land parcel at Yio Chu Kang Road for the development of Hundred Palms Residences executive condominium. From the strong take up rate of a neighboring EC, The Topiary, which was fully sold, Hoi Hup Realty believe that there is a strong pent-up demand for a Yio Chu Kang new launch EC. Hundred Palms Residences is set to be a sold-out new condo launch due to its proximity to popular schools such as Rosyth School. The easy access to neighboring Hougang amenities brings great conveniences to the Yio Chu Kang Rd new launch EC Hundred Palms Residences. Nearby heartland shopping malls such as Hougang Mall, Hougang 1 and Nex provide Yio Chu Kang new EC Hundred Palms makes dining and shopping a convenient activity. Public transport commuting is a breeze with Hougang MRT, Kovan MRT and Hougang Bus Interchange just a few stops away from this Yio Chu Kang new EC launch.

Hundred Palms Eapplication E-application for Hundred Palms is expected to commence in 3rd quarter 2017. For VVIP

According to information by property agents, this new Hundred Palms condominium will open for sale in June and is said to be in hot demand because of its location and proximity to the popular Rosyth School (many families in Singapore love to send their children to these top schools). As a matter of fact confirmed by the developer, more than 70 percent of the Hundred Palms Residences residential development are units of 3-bedroom types and above. In additional, they have also catered the top range of four and five bedroom for keen homeowners. This serene and quiet location Yio Chu Kang of Hundred Palms EC helps to elevate the response of Hundred Palms Executive Condominium.

 

 

 

The cost of rent for individual homes stand up better than HDB flats

The rental markets softened this last year after a summary spurt for March when ever new rents signed just for Housing Deck flats and personal apartments ran by twin digits for percentage conditions from May.

This collapse was within expectations, in view that the influx of dangerous professionals ordinarily higher early on of the calendar year, especially right after Chinese Start of the year, experts known.

Still, each year, rental size was more significant for together segments — reflecting the changing design of tenancies, where rents are when short when six months.

Relating to rental ranges, private dwelling rents were definitely unchanged this last year after reducing 1 . 3 per cent for March, whereas HDB rental prices fell zero. 6 percent after reducing 0. 3 per cent for March, as outlined by flash prices from SRX Property last night.

Both have recently been on a glide, owing to the rising quantity of home completions combined with tiny new demand from expatriates.

The flatness in privately owned apartment rent last month was likely your compensation to get the sharpened decline with March. The rental industry has not been increasing in its decrease, but is definitely falling in a ‘sawtooth’ routine. This implies the market remains rational, rather than going into your freefall just where one would find constant or maybe accelerating diminishes, said an analyst.

Rent in the key central location (CCR) had been unchanged via March, rent in the remaining portion of the central location (RCR) went up 0. one particular per cent and rents from the outside central region (OCR) or and surrounding suburbs fell 0. 1 %. Year on year, rent are a few. 4 % lower total. CCR rent are down 1 . being unfaithful per cent; RCR rents will be off main. 2 % and OCR rents will be 6. main per cent reduce.

HDB rent are slipping as renters have many options, with increased privately owned condominium completions since 2014 and more HDB flats up for sublet as their owners update.

HDB rent fell 0. 3 % in the fully developed estates and were down by 0. 9 % in the non-mature estates with April. Every month, rents with mature properties were a few. 9 % lower and people in non-mature estates several. 8 % lower.

Expanding home completions boosted sizes, with more persons moving to newer buildings when their valuable tenancies breathe – incidents where ending their valuable leases early.

The number of personalized apartments renting out this last year fell diez. 3 percent month regarding month to three, 953 however , that was 10. quite a few per cent on top of a year to come back.

HDB procurment volume lost his balance 2 . some per cent with March to 2, 048 but was 5. almost 8 per cent more significant year on year.

Rents their home are getting highly competitive. Any specific owners exactly who try to continue on their already transacted rents their home can be made ready to have hardships renting away.

Returning Orchard Roads buzz

Orchard Road was generated to be Singapore’s premier browsing belt, and you wouldn’t find out it in the event you strolled towards many of the shopping malls along the charge cards 2km stretching these days.

The vacancy amount in department stores within the Orchard planning region hit a five-year full of the 1st quarter for 8. almost eight per cent. Islandwide, vacancy premiums are six. 3 percent. In contrast, vacancies in shopping malls outside the locale area are actually 6. five per cent.

To, the retail scene is due to trouble national. Retailers’ takings fell 3 or more. 2 percent in June against the exact month recently. Stripping away motor vehicles, retail sales lowered by a heftier 9. half a dozen per cent.

Even so it is Orchard Road the fact that appears toughest hit, as a consequence of a conditioning global current economic climate that has crimped tourism advancement. The number of internet surfers to Singapore was up by way of 0. 7 per cent for 15. a pair of million in 2009, but most of their overall spending fell half a dozen. 8 percent to $22 billion — the first of all drop for tourism invoices in half dozen years, as the global financial crisis.

Everything that ails Orchard Road shopping malls is that many lack an exclusive positioning and contains similar potential renters.

DIFFERENT LUCK

To be good, some department stores are succeeding on that stretch, while using highest attention of buyers centred around the section via ION Orchard to Ngee Ann Town.

These two shopping centers, along with Paragon, continue to lure shoppers by their mix of retail outlets partly because of their luxury brandnames that are not conveniently found in other regions except for the Marina Clean Sands supermarket.

Analysts mention these some malls for Orchard Way remain also great for prospective prospects, with healthier leasing telephone calls. At ION Orchard, for instance , American jeweller Tiffany + Co fairly recently opened an outlet across two levels.

More mature strata-titled department stores in the location, such as China Plaza and Lucky Plaza, struggle to match the times. Retail outlet units in these properties will be owned simply by individuals, and renovation operates can be carried out as long as the majority of owners agree.

Yet even new malls including Orchard Portal and Orchard Central have been completely disappointingly private.

A visit to Orchard Central shows that a lot of the space about levels two and 3 is concealed by hoardings.

Landlord Far East Organization said the mall, which opened in 2009, is undergoing changes to its renter mix and “enhancement is effective are also good under means… for superior shopper visibility, experience and better accessibility”.

Another shopping center, 268 Orchard Road, which will opened not too long ago, had merely three professional tenants, The Straits Times said last month. Security guards posted on the ground floor stopped us from going to the rest of the mall this week, saying there are no stores open on the upper floors and permission was needed from the management to visit. Ngee Ann Development owns the mall.

One problem facing Orchard Roads was the super fast surge on supply of retail space on 2014. With the 2 . thirty-three million sq ft world-wide-web new method to obtain retail space islandwide the fact that year, 355, 000 sq ft had been in the Orchard area. This has been more than 3 x higher than the 97, 000 sq toes in 2013.

The increase on Orchard Roads retail space also followed at a time when shiny new malls were springing up across the city and in suburban centres. The internet new flow of retail space nationwide was 1 . twenty-eight million sq ft in 2013.

Analysts say Singapore is “over-shopped” – a lot of malls for such a small country.

In fact , RHB Research Institute Singapore said in an August report that Singapore has the maximum concentration of retail space per capita in South-east Asia: 1 ) 08 sq m as well as 11. a few sq toes of retail space every capita, balanced with 0. around eight sq meters per specific for Bangkok and zero. 71 sq m pertaining to Kuala Lumpur. But which can be lower than Hong Kong’s 1 ) 5 sq m (16. 2 sq ft) seeing that at end-2015.

‘COOKIE-CUTTER’ SHOPPING MALLS

Retail industry experts say that when ever shoppers currently have so much decision, malls really need differentiated programs to be noticeable. Yet many malls characteristic mainstream brands that consumers can find somewhere else.

Brands like H&M, Forever 21, Uniqlo and Natural cotton On are popular. Dr Seshan Ramaswami, associate teacher of marketing education at Singapore Management College or university, said: “The massive range and range of (H&M and Uniqlo’s) business around the globe allow them to possess relatively reduced variable costs for their offerings. ”

This kind of brands might appeal to the value-conscious consumer. But they are easily obtainable in neighbouring countries, and are not any longer novel to tourists.

“I think each of our malls right here lack id, they have no a unique history to inform. If each of them have related stores, they then are replaceable – the reason go to one particular mall when you might get the same task in another? inches Singapore Polytechnic marketing and retail lecturer Amos Tan stated.

Countering this kind of view, Aussie retail string Cotton In Group says it customises its range of products according to the customer profile in the mall. The firm has seventy four stores for Singapore all over various brandnames such as Egyptian cotton On, Cotton On Body, Factorie, Rubi Shoes, Cotton On Kids and Typo. Worth mentioning, 11 happen to be in Orchard Road.

OWNERS

Landlords own a big job to play for shaping the retail stage, experts mention.

For example , owners may wish to rent out buy space to mass-market, good brand names which will pay the rent.

Web-based Professor Prem Shamdasani within the Department of selling at the NUS Business Class said: “Most malls happen to be under Reits (real est investment trusts), so these fall once again on the bread-and-butter tenants, for established, as a way to ensure supportable yields meant for the centre. ”

This unique results in the cookie-cutter take a look of many shopping centers. Retailers tell you landlords can be inflexible for rental dialogue, compounding their very own troubles.

The Emporium Group founder Sylvia Lim explained some property owners are since “hard since rock” in relation to rent discussion. The fashion dealer has two permanent merchants – in Tanglin Nearby mall and 112 Katong – and your pop-up retail store at Millenia Walk.

This lady was trying to15328 convert the pop-up retail store into a everlasting one, nevertheless was explained to she was required to pay 20 to 40 per cent considerably more rent.

“It’s about financial a aiding hand. It’s possible for the next a few months, we can assist you with a dose of rental, used only for a period of time — non-e. Possibly in this promote, they won’t move, ” Microsof company Lim says.

Landlords will typically be more involved yourself and practical in travelling advertising and promotion promotions, say sellers.

One positive example can be Australian residence company Lendlease, which presented Tring 313, a location-based app the fact that informs purchasers of campaigns by professional tenants at 313@Somerset.

THE X-FACTOR

What will acquire shoppers rear spending on Orchard Route malls?

Retail experts declare shopping has to be more than a transaction; it has to be an occasion, one that provides a unique experience – call it the X-factor – to the consumer.

Frasers Centrepoint, which oversees The Centrepoint – formerly a popular haunt but now with large sections of vacant space from basement one to level three, largely due to ongoing upgrading works – is working on delivering a “holistic shopping experience” when refurbishment is done in the fourth fraction. Mr Captain christopher Tang, leader of commercial and Greater Cina business for Frasers Centrepoint, said: “These experiences should never only assimilate shopping, although also different lifestyle factors. ”

Innovative tenants with the mall will incorporate Din Tai Fung, Crystal clear Jade Your kitchen, Mak’s Noodles, Honolulu Coffee shop and Melody Fa Bak Kut Teh, and superstore Cold Hard drive with a new retailer concept.

To keep retail offerings different and relevant, having more home- grown labels will help, seeing that will what called a “destination store”.

Certainly a vacation destination store is definitely the Apple Shop, expected to open up soon at Knightsbridge in Orchard Street. It will change the streetscape. If you look at the Apple Store in Tokyo or perhaps Hong Kong, all of them very strong crowd-pullers, it will be an activity changer for the vicinity, stated an analyst.

Dr Ramaswami said merchants can better leverage technology to track individual profile, “so that a staff can potentially recognise complaintant profile once she goes into the store… and next use profits strategies dependant on that consumer’s online and offline browsing profiles to suggest collections, offer rate reductions or cross-sell”.

Then you will find Orchard Way itself.

A last key revamp went into 2009, should the sidewalks were definitely spruced ” up ” and increased – a $40 million undertaking. It may be timely to consider enhancing underground connection and making the area much more pedestrian-friendly.

The multi-lane busy traffic makes the street unwelcoming and overwhelming for pedestrians at road level. Pedestrianising at least some areas of Orchard Street can be a method forward in order to better hook up both sides of Orchard Street.

The hot, damp weather and also the lack of tone when it rains are reported as other factors why the Orchard Street belt is usually losing it’s lustre.

What needed are definitely initiatives just like the one organised by Orchard Way Business Group with the assist of Singapore Tourism Deck, the per month Pedestrian Day on the first of all Saturday belonging to the month, a great initiative the fact that ended in May.

To be honest, retail stores global are looking at similar troubles.

What may help bring several magic into Orchard Way malls has more interesting retail spaces, personalised service and a lot more interesting brandnames, including home-grown ones. Those will require the two landlords and retailers to get bolder with experimenting with distinct shop combines.

Home market coming through from the blues?

Slowly but surely, the exact property market is coming through from it’s slumber, and with activity required in returning months, heading by brand-new data.

Each of those private unit and Lodging Board washboard resale sizes last month were definitely the highest for about three years, according to sign estimates with SRX Real estate.

Some of the seller transactions included developer sales and profits of finalized stock, which is where price haircuts and artistic methods of building payments own proved effective in selling packages.

And in the fresh new sales markets, developers have been completely pricing to dispose of, although many unveilings fizzle away after lady surge for sales.

Yet, turnout within two of the new launches looks like promising. Cheung Kong Real estate got regarding 4, 000 visitors in its Stars of Kovan VERY IMPORTANT PERSONEL preview along at the weekend, whereas Gem Households in Toa Payoh has got drawn you, 036 tour of interest as its April 28 preview.

An important factor factor is actually buyers and sellers have been completely waiting to determine what would happen to soothing measures and prices and, having waited for long, are needs to move.

Post-Budget, there were confirmation that there would be zero changes to soothing measures, pushing investors who’ve been on the sidelines to act.

Builders, too, have already been under increasing pressure to offer and so get priced moderately.

They are also aware that buyers get many options. From the Orchard Highway area as an illustration, buyers can pick between Ardmore Three, your freehold property or home selling in effective rates of $2, 600 to $2, 600 per sq ft; 99-year leasehold OUE Twin Highs, at about $2, 300 psf; and upcoming freehold launch Gramercy Park in about $2, 600 psf.

OUE’s to be able to introduce your deferred repayment scheme to get Twin Highs seems to have previously worked, with alongside 100 devices sold seeing that late Walk.

More builders are established in take reference point from this. TG Development, the developer of Lloyd SixtyFive, is launching an “experimental purchaser scheme” under that this buyer compensates 12. your five per cent on the purchase price to get an option that may let him sit on the unit without having to pay maintenance fees and property taxation for a few years. This will with luck , let him delay the get until this type of time simply because the Additional Purchaser’s Stamp Accountability is increased or simplified.

On the seller front, man or women sellers experience adjusted expected values, encouraging shoppers in the process.

While in the HDB seller market, selling prices have less than shifted up to now nine many weeks. From some buyer’s and seller’s opinion, they are sharp it is a constant market. Shoppers are not nervous if selling prices will drop further as long as they buy.

Genuinely, despite quite a lot of bargain hunting in the seller market — buyers at this time view possibly 10 and also 15 buildings before placing – there isn’t a shortage of appeal, said Mr. Eugene Lim, ERA Real estate key administrating officer. “In the last two year period, people were even if it’s just prepared to get, ” the person said.

In due course, buyers happen to be savvy, analysts feel. They already have monitored market trends for some time and, when the expense points are usually right, it doesn’t go in — a fact distributors are additional and more bearing in mind.

Second-hand condo prices, volume up again in April

The most recent April data from SRX Property revealed that prices and deal volume of resell private flats and condominiums have increased for two consecutive months.

Depending on flash estimations for Apr by SRX Property released on Wednesday, prices inside the Central Area increased last month, on a month-on-month as well as year-on-year basis. However, prices inside the suburbs dropped over both periods.

SRX Property’s general resale cost index for non-landed personal homes in Singapore increased 0. five per cent in April 2016 over the previous month, depending on its adobe flash estimates for last month released on Wednesday.

This comes after a zero. 1 percent month-on-month gain for Strut 2016 — a ausgabe from the zero. 3 percent increase the fact that SRX Building had portrayed earlier influenced by its show estimates just for March. Each and every year, the September 2016 index chart value was down zero. 5 percent.

The latest index chart is also straight down 7. you per cent out of its recently available peak on January 2014.

Giving a regional breakdown of your month-on-month operation of the index chart in September, SRX Building said that price ranges rose zero. 7 percent in the Center Central Section (CCR) and 1 . 3 or more per cent during the city-fringe or simply Rest of Central Region (RCR), but stowed 0. couple of per cent during the suburbs or simply Outside Central Region (OCR).

The CCR and RCR posted year-on-year price progression of 3. couple of per cent and 0. hunting for per cent respectively, while prices in OCR eased installment payments on your 9 per cent over the same period.

Because the start of the year, real estate agents on the ground possess noticed an increase in interest in the CCR.

Notwithstanding reports that focused on the left end of the cost curve, they reported that transacted prices on average have been firm.

PERIOD Realty Network’s key professional officer, Eugene Lim, mentioned that the cost weakness inside the suburbs was due partially to the large volume of supply in OCR. “Sellers not merely have to contend with other sellers, but with developers which have unsold inventory. ”

Moreover, many traders had dabbled in little units inside the suburbs throughout the 2011-2013 house boom and may be looking to offload their particular units because of the weak leasing market, he added.

Tuesday’s data launch by SRX Property implemented official federal government numbers intended for the 1st quarter that painted an identical trend, of greater cost resilience inside the Central Area compared with the suburbs.

Metropolitan Redevelopment Authority’s price indices for non-landed private homes (encompassing the two primary and secondary marketplace deals) in CCR increased 0. three per cent in Q1 this season over the previous quarter. Inside the RCR, URA’s index was flat in Q1. Yet, in OCR, the index ended up 1 . three per cent.

SRX Property approximated that 689 non-landed personal homes were resold last month – ” up ” 17. half a dozen per cent with the 586 contraptions resold on March 2016. The latest body is a three-year record because last most of 726 contraptions in May perhaps 2013.

Each year, the selling the property a second time volume on April 2016 was 38. 1 percent higher than the 538 contraptions transacted on the same month last year. Anyhow, last month’s resale sound level was 66. 4 percent lower than the height of 2, 050 units sold in September 2010.

The development in exchange volumes indicates that there is however a available pool of buyers on the resale current market. ERA’s Mr. Lim featured that one of your attractions of picking up individual apartments or simply condo contraptions from the selling the property a second time market is the fact that units can be larger, good results . similar amount quantums to new contraptions.

“So clients may think that they are improving value for money relating to living space. in

SRX Building said that complete median exchange over X-Value (TOX) improved upon to detrimental S$9, 000 in Spring 2016 right from negative S$10, 000 for March 2016.

The mean TOX options how much men and women are overpaying or perhaps underpaying up against the computer-generated predicted market value as well as so-called X-Value.

Harder for foreign people to get Aussie home loans

Foreigners in Australia are finding it increasingly difficult to secure a home loan after major banks curbed lending to non-residents.

Australia’s four big banks are ANZ, Commonwealth Bank, Westpac and NAB.

In recent weeks, banks have introduced measures such as requiring face-to-face meetings for loan applications and scaling back the loan amount to those with foreign income from 80 per cent to 70 per cent of the purchase price.

Experts believe the recent curbs are not motivated by an “anti-foreigner policy”. Instead, the banks are responding to growing concerns about their high exposure to the soaring property market.

The latest move to tighten lending was by Westpac, which announced on April 26 that it will stop making home loans to nonresidents, temporary visa-holders or self-employed applicants whose income comes from abroad.

“We have strengthened our policies regarding nonresidents lending and foreign income, which represent a very small component of our loan book, ” a standard bank spokesman instructed The Straits Times.

Unknown investment on Australian residence has rocketed in recent years. It’s fuelled open public concerns the fact that foreign potential buyers are wringing out neighborhood buyers and making homes unaffordable.

Administration data signifies that Chinese expenditure in Foreign residential and commercial residence doubled to A$24 million (S$24 billion) last year, by A$12 million in 2014 and just A$5 billion on 2013.

Cina was the most important source of property investment, followed by the United States with A$7. 1 billion, Singapore with A$3. 8 billion and Malaysia with A$3. 4 billion.

But the move by the banks is unlikely to have a big impact on the market or foreign investment flow.

The banks say only a small element of their homes loans will involve non-residents relying upon foreign-source salary. Many China’s buyers apparently use income and foreign-sourced funds , nor take out area loans.

Doctor Harald Scheule, a economic expert from University of Technology, Sydney, told The Straits Situations the tensing of credit to and also the appeared to be the main banks’ recently available attempts to steer far from excessive experience of the market.

“non-e with the banks possesses an anti- foreigner policy, micron he reported.

More than 70 per cent of lending by means of Australia’s great banks is usually to residential property potential buyers, one of the best levels across the world.

The business banking regulator features repeatedly given notice that it will often be keeping a decent watch for the lending portfolios of the significant banks.

A good senior account manager at the Foreign Prudential and Regulation Capacity, Mr Charles Littrell, reported the property-heavy concentration of lending during the banking community is a “perpetual concern”.

“It is a good deal issue or worry… that in close proximity to two-thirds of (the great four banks’) balance pillows and comforters are exposed to residence, ” the guy told The Australian Fiscal Review quick last month.

Doctor Scheule reported the prevent may also point out that finance institutions want to lessen their exposure to Okazaki, japan over fears that the economic climates, especially China’s, “are and not as solid because they may have been during the past”.

The recent prevent have been criticised as a great “over-reaction” by means of some real estate investment developers and property economic firms. But are unlikely to use much heating out of the jumping property sector.

Australia’s central bank reported in a fiscal stability survey last month which the direct subjection of finance institutions to China’s investors and developers “appears to be small”. But it increased: “If China’s demand was to decline appreciably, that could weigh up on local property price ranges and bring on losses for the banks’ larger property-related exposures. ”

Household prices on Australia went up by 7 % last year, with increases on Sydney and Melbourne of 9 and 10 %, respectively.