AN INDEPENDENT PERSPective


 It's so important to be true to yourself            "
khaliladis.com
  • Home
  • About
  • Blog
  • Books
  • Services
  • Media
  • Events
  • Awards/Accolades
  • Clients
  • Portfolio
  • Contact
  • Corporate Responsibility

Explainer: New measures to help first-time Singaporean homebuyers

9/11/2019

0 Comments

 
​Announced yesterday by Minister for National Development Lawrence Wong, the Enhanced CPF Housing Grant for first-timers and higher income ceilings will provide more flexibility and housing options. We study how this will impact the property market.

​By Khalil Adis
Picture
The HDB Hub is located in Toa Payoh. Photo: Khalil Adis Consultancy.
Quick snapshot
Picture
The increase in grants and income ceiling for first-timer families and singles will ease their entry in the property ladder. Graphics: Khalil Adis Consultancy.
#1: Who will this benefit the most? 
Picture
Aspiring homebuyers looking at the scaled model at HDB Hub. Photo: Khalil Adis Consultancy.
​First-time homebuyers will benefit the most especially the middle to low-income bracket groups. It will also benefit first-time homebuyers who want to live close to their parents in mature estates.

#2: Why now?
Picture
A Built-To-Order project being built in Punggol. Photo: Khalil Adis Consultancy.
​This is because incomes have been rising since the HDB last reviewed the income ceiling in 2015. As such, the policy has been tweaked to address this.

#3: How will this affect the HDB market? 
Picture
More housing grants will mean less cash upfront for buyers. Photo: Khalil Adis Consultancy.
The sandwiched class may now opt to buy an HDB flat compared to buying a private property due to the increase in income ceiling and Enhanced CPF Housing Grant as it will mean less cash upfront.

This will help to prop up demand for resale HDB flats.

It is worth noting that the resale HDB market has been rather muted.

​As such, we are likely to see an increase in activity particularly for those who want to live close to their parents. 

#4: How will this affect the private housing market? 
Picture
Condominium projects located in Tanjong Pagar. Photo: Khalil Adis Consultancy.
We may see the sandwiched class now switching to buy from the HDB market and thus ease pressure from the private housing market.

​As such, we are likely to see the Private Property Index (PPI) see a slight correction in the next quarter.

#5: Will this affect HDB prices across the board?
Picture
A HDB flat located in the mature area of Toa Payoh. Photo: Khalil Adis Consultancy.
It will affect prices in the HDB resale market as buyers are now given more help with the Enhanced CPF Housing Grant.

The HDB Resale Price Index has seen a decline since the first quarter of 2013.

​However, with the increase in income ceiling and  Enhanced CPF Housing Grant, we could see more sales activity in the otherwise muted resale market.

#6: How will this affect the rental market?
Picture
Scaled model of the Singapore City Gallery at The URA Centre. Photo: Khalil Adis Consultancy.
​The HDB and private property rental market will be very soft as more buyers will be switching to buy rather than rent a property. In the HDB market, the HDB will be launching 15,000 units later this year.

Meanwhile, in the private property market, we have a total supply of 53,696 uncompleted private residential units (including ECs) in the pipeline with planning approvals as at the end of the second quarter of 2019.  

Also, we have another 4,398 units (including ECs) that will be completed in the remaining second quarters of 2019.

​This incoming supply, together with the sluggish economy due to the ongoing trade war, will make the rental market extremely soft.
0 Comments

First residential project at the doorstep of the Greater Southern Waterfront previewed. Here are the 5 key takeaways

9/3/2019

0 Comments

 
Sited within proximity to mega project such as the Greater Southern Waterfront, the Rail Corridor and the SGH Campus, Avenue South Residence offers owner-occupiers and investors the first-mover advantage.

By Khalil Adis
Picture
A 99 years leasehold development by United Venture Development (Silat) Pte Ltd, Avenue South Residence is expected to be completed in the second quarter of 2023. Photo: UOL Group.
Developments at Singapore’s Greater Southern Waterfront district is fast gathering pace with the preview of Avenue South Residence last Friday.

This comes hot on the heels when Prime Minister Lee Hsien Loong announced last month during his National Day Rally speech that the government will be developing the Greater Southern Waterfront as a vibrant housing, entertainment and commercial district.

A joint-development by UOL Group Limited (UOL), its subsidiary United Industrial Corporation Limited (UIC) and Kheng Leong Company, Avenue South Residence has been described as “the first major residential project at the doorstep of Singapore’s Greater Southern Waterfront.”

Here are five fast facts on Avenue South Residence:

#1: Located at Silat Avenue the former Kampong Silat site
Picture
Google street view of the actual site of Avenue South Residence. Photo: Google maps
For those who grew up in the Spottiswoode Park area, Kampong Silat will bring back many fond memories.

Probably named after the Malay martial arts, Silat Avenue was once home to the Silat Community Centre.

Known for its three to four-storeys Singapore Improvement Trust (SIT) flats, some of these landmark buildings were soon demolished to make way for point-block flats.

With the Greater Southern Waterfront announced just last month, Avenue South Residence sits at the doorstep of this massive waterfront city development that will encompass roughly twice the size of Punggol.

Located just off Kampong Bahru Road in the CBD fringe, nearby property boosters include the SGH Campus, two upcoming MRT stations namely, Keppel and Cantonment as well as a new office district with nightlife activities.

This will complement existing office spaces which is home to Google, Cisco and Unilever and add more jobs down south.

Nature lovers will also enjoy direct access to the 24km-long Rail Corridor as well as the park connectors that will be developed along Berlayer Creek and Labrador Park.

#2: A total of 1,074-units on offer
Picture
Half of 1,074-unit development are priced below $1.5 million. Image: UOL Group.
Comprising two 56-storey super high-rise towers and five conserved flats, this 99 years leasehold development features one to four-bedroom units ranging from 474 to 1,668 sq ft.

According to the developer, half of the 1,074-units will be priced below S$1.5 million.

The first 300 units range from S$858,000 for the one-bedrooms to S$1.15 million for the two-bedroom units.

This works out to S$1,810 and S$1,750 per sq ft based on a floor area of 474 and 657 sq ft respectively for such units.

As a piece of background information, the land parcel was awarded to the consortium in May 2018 at $1.035 billion.

This works out to S$1,138 per sq ft based on the gross floor area. 

#3: All units will face the north-south direction while ensuring privacy
Picture
Panoramic views of the city skyline at Avenue South Residence. Image: UOL Group.
With a plot ratio of 3.7, the developer has surprisingly managed to orientate all the units in the north-south direction.

This is considered a feat as according to the Urban Redevelopment Authority’s Master Plan, anything that is above a gross plot ratio of 2.8 is considered a very high-density development.

Additionally, this orientation is considered ideal as it helps to reduce heat gain from the morning sun, especially in Singapore’s tropical climate.

In total, Avenue South Residence will offer buyers a choice of 242 one-bedroom units, 505 two-bedroom units, 223 three-bedroom units and 104 4-bedroom units. 

None of these units will be facing each other which is another plus point for discerning buyers who value privacy while wanting to live close to the city.

#4: Three distinctive collections to choose from
Picture
Avenue South Residence will comprise two 56-storey towers with communal facilities, and five four-storey blocks comprising residential units, shops and a childcare centre. Photo: UOL Group.
What sets Avenue South Residence from other new launches in the market is the unique development architecture which comprises five conserved buildings.

Formerly known as Singapore Improvement Trust (SIT) flats, these conserved buildings are reminiscent of the charming walk-up apartments in  Tiong Bahru that has made into a hipster enclave.

Built between 1949 and 1952, these buildings are the second oldest surviving public housing estate in Singapore after those found in Tiong Bahru.

For the discerning investors wanting a piece of history complete with squarish Art Deco-styled architecture with a huge red-tiled roof, these buildings have been beautifully restored and rebranded as “limited edition” Heritage Collection.

They are priced at around S$1,780 per sq ft

Meanwhile, the Peak Collection will offer premium homes starting from the 37th storey onwards. 

As its name suggests, the Peak Collection will offer unblocked views of the city skyline with a price tag of S$2,250 per sq ft.

Living up to its reputation of living the high life, buyers will be offered a complimentary platinum membership to the Pan Pacific DISCOVERY.

This loyalty programme offers exclusive privileges to the group’s “Pan Pacific” and PARKROYAL hotels

Last but not least, the Horizon Collection will be launched at $1,980 per sq ft.

All collections come with high-quality specifications such as marble flooring and branded kitchen appliances.

#5: Public preview attracts a strong 7,000 crowd
Picture
Prospective buyers at Avenue South Residence's sales gallery. Photo: UOL Group.
​Since Avenue South Residence was opened for public preview on 30 August, it has attracted 7,000 people to date at its sales gallery located along Alexandra View.

Sales of the 1,074-unit development will commence on 7 September. 
 
When completed, Avenue South Residence will also offer close to 10,000 sq ft of commercial facilities, including F&B outlets and a childcare centre for the convenience of families with young children.
0 Comments

    Khalil Adis

    An independent analysis from yours truly

    Archives

    December 2024
    February 2024
    January 2024
    July 2023
    June 2023
    May 2023
    April 2023
    January 2023
    December 2022
    November 2022
    August 2022
    July 2022
    April 2022
    March 2022
    January 2022
    November 2021
    October 2021
    September 2021
    June 2021
    April 2021
    March 2021
    January 2021
    December 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    March 2018
    February 2018
    January 2018
    December 2017
    September 2017
    July 2017
    June 2017
    December 2016

    Categories

    All
    121 Residences
    ABSD
    Affordable Homes
    Airbnb
    Allianz Real Estate
    Ang Mo Kio
    Astaka
    Astaka Holdings Limited
    Avenue South Residence
    Aviation Park
    Bandar Malaysia
    Bank Negara Malaysia
    Bayan Lepas LRT Line
    Bedok
    Below Market Value Property
    Branded Residences
    Bright Hill
    BTO Flats
    Budget 2019
    Budget 2020
    Bukit Chagar
    Bukit Panjang
    Cagamas Berhad
    Cairnhill 16
    Causeway Point
    Cheonggyecheon
    Chinatown Kuala Lumpur
    Circle Line
    City Plaza
    Cochrane MRT Station
    COVID19
    CPF
    Cross Island Line
    Defu
    En-bloc
    Energy Saving Tips
    Estate Planning
    Excelsior International School
    Family Violence
    First Home
    Foon Yew High School
    Forest City
    Geylang Serai
    Geylang Serai Bazaar
    GlaxoSmithKline
    Glomac Berhad
    Government Land Sales (GLS) Programme
    Greater Southern Waterfront
    HDB
    Health City Novena
    Heng Swee Keat
    High Speed Rail
    Home Mortgage
    Home Ownership Campaign 2019
    Home Renovation
    Home Rental
    Hougang
    Ibrahim International District
    IKEA Cheras
    Imperial Jade Residenz
    Interior Design
    Iskandar Halal Park
    Iskandar Malaysia
    Iskandar Regional Development Authority
    JB Food Trail
    JB-Woodlands RTS Link
    Johor Bahru
    Johor Bahru City Council
    Johor Bahru City Square
    Johor Property
    Johor Real Estate
    Joint Tenancy
    Joo Chiat Complex
    JPPH
    Jurong Lake District
    Jurong Regional Line
    Jurong West
    Keppel REIT
    Khaw Boon Wan
    KLCC
    KOMTAR JBCC
    KTM Terminal Skypark
    Kuala Lumpur Property
    Kuala Lumpur Real Estate
    Land Transport Authority
    LED Lighting
    Lim Guan Eng
    London Property Market
    London Real Estate
    Loyang
    LRT Bandar Utama-Klang Line (Klang Valley LRT Line 3)
    Malaysia Property
    Malaysia Real Estate
    Masterskill University College Of Health Sciences
    Media Interview
    Melaka Property
    Melaka Real Estate
    Menara Maybank
    Merdeka Generation Package
    Ministry Of Finance Malaysia
    Ministry Of Social And Family Development
    MM2H
    Mutiara Rini Sdn Bhd
    MyTOWN Shopping Centre
    National Day Rally 2019
    Negeri Sembilan Property
    Negeri Sembilan Real Estate
    Novena
    Ocean Financial Centre
    One Bukit Senyum
    One Cochrane
    Overleveraging
    Oxley Towers Kuala Lumpur City Centre
    P2P Funding
    Pan Island Link
    Park Nova
    Park Place Residences At PLQ
    Pasar Karat
    Pasar Seni MRT Station
    Pasir Gudang
    Pasir Gudang Hospital
    Pasir Ris
    Pasir Ris East
    Paya Lebar Central
    Paya Lebar Quarter
    Paya Lebar Square
    Penang Property
    Penang Real Estate
    Penang Transport Master Plan
    Pengerang Rapid Project
    Persada-johor
    Petaling-street
    Plaza-rakyat-lrt-station
    Plp-architecture
    Plq-mall
    Pr1ma
    Ptptn
    Public-relations
    Punggol
    Punggol-digital-district
    Rapid-transit-system-rts-link
    Renovation
    Selangor Property
    Selangor Real Estate
    Sengkang
    Serangoon-north
    Seri-alam-properties-sdn-bhd
    Singapore-budget-2019
    Singapore-budget-2020
    Singapore-economy
    Singapore-general-election
    Singapore Luxury Property Market
    Singapore Office Market
    Singapore Property
    Singapore Property Market
    Singapore Real Estate
    Singapore Retrenchments
    SME Co-Investment Fund III
    Sri Geylang Serai
    Suasana Iskandar Malaysia
    Sungai Buloh Kajang Line
    Sungai Buloh - Kajang Line (SBK Line)
    Sungai Buloh Serdang Putrajaya Line
    Tampines
    Tampines North
    Tanjong Katong Complex
    Tavistock
    Teck Ghee
    The Workers' Party
    Thomson East Coast Line
    Thomson-East Coast Line
    Thomson-East Coast MRT Line
    Tokyo Property Market
    Tokyo Real Estate
    Transit Oriented Development
    TREC
    TriTower Residence
    Tun Razak Exchange
    UM Land
    Universiti Kuala Lumpur
    Universiti Teknologi Mara
    URA Draft Master Plan 2014
    URA Draft Master Plan 2019
    Urban Redevelopment Authority
    US-China Trade War
    Vivian Balakrishnan
    Waterway Point
    Wisma Geylang Serai
    Woodland Regional Centre
    Woodlands Central
    Woodlands North Coast
    Woodlands North MRT Station
    Woodlands Regional Centre
    Yishun
    Y Waterway@Punggol

    RSS Feed

Picture

100 Peck Seah Street
#08-14
PS 100
Singapore (0793333)
Email: [email protected]
Phone: +65 8201 9254

What the market is saying

"Hi thank you so much. Keep updating." - Sharveena

"I bought your new book through Popular Bookfest in KLCC yesterday. I just finished my reading. I like it so much as it saved my time to search those information that I have been looking for it. Thank you for writing this book. I believed you have spent a lot of time to prepare it". - PY Chan

Want more bite-sized news?

    Subscribe Today!

Submit
  • Home
  • About
  • Blog
  • Books
  • Services
  • Media
  • Events
  • Awards/Accolades
  • Clients
  • Portfolio
  • Contact
  • Corporate Responsibility