For Sale Apartment / Condo, District 11 , 03.01.2008

For Sale Apartment / Condo, District 11 , 03.01.2008

TY : [C]ondo [D]uplex [H]iRise [L]oRise [T]ownHse [P]enthse [W]alkUp [M]asionette

TNR=Tenure, DT=District, BDRM=Bedroom, AREA=Built-In, STR=Storey, Price $K=In Thousand

Price are subject to changes , please call (+65) 91002985 for lastest update
Type — C
District — 11
Street — AMARYLLIS VILLE, BLK 20 #13
Tenure — 99
Area — 1259
Age — 02+
Room — 3
Psf — 1500
PRICE$ — C
Type — 11
District — AMARYLLIS VILLE, BLK 22 #07
Street — 99
Tenure — 1238
Area — 02+
Age — 3
Room — 1500
Psf — C
PRICE$ — 11
Type — AMARYLLIS VILLE, BLK 22 #18
District — 99
Street — 1238
Tenure — 02+
Area — 3
Age — 0
Room — C
Psf — 11
PRICE$ — AMARYLLIS VILLE, BLK 22 #19 ABOVE
Type — 99
District — 1259
Street — 02+
Tenure — 3
Area — 1400
Age — C
Room — 11
Psf — AMARYLLIS VILLE, BLK 22 #22
PRICE$ — 99
Type — 1259
District — 02+
Street — 3
Tenure — 1509
Area — C
Age — 11
Room — HILLCREST ARCADIA, BLK G #01
Psf — 99
PRICE$ — 2745
Type — 20+
District — 4
Street — 1122
Tenure — C
Area — 11
Age — NEWTON ONE, #10
Room — FH
Psf — 1216
PRICE$ — BN
Type — 2
District — 1900
Street — C
Tenure — 11
Area — NEWTON SUITES, #08
Age — FH
Room — 1238
Psf — BN
PRICE$ — 3
Type — 1900
District — C
Street — 11
Tenure — NEWTON SUITES, #14
Area — FH
Age — 1238
Room — BN
Psf — 3
PRICE$ — 1950
Type — C
District — 11
Street — NEWTON SUITES, #17
Tenure — FH
Area — 1238
Age — BN
Room — 3
Psf — 1850
PRICE$ — C
Type — 11
District — NEWTON SUITES, #19
Street — FH
Tenure — 797
Area — BN
Age — 2
Room — 1800
Psf — C
PRICE$ — 11
Type — PARK INFINIA AT WEE NAM, BLK 2A
District — FH
Street — 1130
Tenure — BN
Area — 2
Age — 0
Room — C
Psf — 11
PRICE$ — PARK INFINIA AT WEE NAM, BLK 2A
Type — FH
District — 1442
Street — BN
Tenure — 3
Area — 1488
Age — C
Room — 11
Psf — PARK INFINIA AT WEE NAM, BLK 2A
PRICE$ — FH
Type — 1442
District — BN
Street — 3
Tenure — 1488
Area — C
Age — 11
Room — PARK INFINIA AT WEE NAM, BLK 2A
Psf — FH
PRICE$ — 1001
Type — BN
District — 2
Street — 1798
Tenure — C
Area — 11
Age — PARK INFINIA AT WEE NAM, BLK 2A #28
Room — FH
Psf — 980
PRICE$ — BN
Type — 2
District — 0
Street — C
Tenure — 11
Area — PARK INFINIA AT WEE NAM, BLK 6A
Age — FH
Room — 560
Psf — BN
PRICE$ — 1
Type — 1696
District — C
Street — 11
Tenure — PARK INFINIA AT WEE NAM, BLK 6A
Area — FH
Age — 893
Room — BN
Psf — 2
PRICE$ — 0
Type — C
District — 11
Street — PARK INFINIA AT WEE NAM, BLK 6A
Tenure — FH
Area — 1335
Age — BN
Room — 3
Psf — 0
PRICE$ — C
Type — 11
District — PARK INFINIA AT WEE NAM, BLK 6A #03
Street — FH
Tenure — 1335
Area — BN
Age — 3
Room — 0
Psf — C
PRICE$ — 11
Type — PEAK CT CONDO, #01
District — FH
Street — 2900
Tenure — 20+
Area — 3
Age — 1224
Room — C
Psf — 11
PRICE$ — RESIDENCES @ EVELYN, BLK 15 #08
Type — FH
District — 1539
Street — BN
Tenure — 3
Area — 1949
Age — C
Room — 11
Psf — RESIDENCES @ EVELYN, BLK 15 #19
PRICE$ — FH
Type — 1539
District — BN
Street — 3
Tenure — 0
Area — C
Age — 11
Room — RESIDENCES @ EVELYN, BLK 15 #20 ABV
Psf — FH
PRICE$ — 1528
Type — BN
District — 3
Street — 2200
Tenure — C
Area — 11
Age — RESIDENCES @ EVELYN, BLK 17 #17
Room — FH
Psf — 1109
PRICE$ — BN
Type — 2
District — 0
Street — C
Tenure — 11
Area — RESIDENCES @ EVELYN, BLK 17 #21
Age — FH
Room — 2250
Psf — BN
PRICE$ — 4
Type — 2188
District — C
Street — 11
Tenure — RESIDENCES @ EVELYN, BLK 17 #33
Area — FH
Age — 2067
Room — BN
Psf — 3
PRICE$ — 2100
Type — C
District — 11
Street — SETIA RESIDENCES, #11
Tenure — FH
Area — 3348
Age — 1
Room — 4
Psf — 2500
PRICE$ — C
Type — 11
District — SHELFORD REGENCY, #02
Street — FH
Tenure — 990
Area — 06+
Age — 2
Room — 1263
Psf — C
PRICE$ — 11
Type — SKY @ ELEVEN, BLK 5 #09
District — FH
Street — 2700
Tenure — BN
Area — 4
Age — 1500
Room — C
Psf — 11
PRICE$ — SOLEIL @ SINARAN, TWR A #16
Type — 99
District — 936
Street — BN
Tenure — 2
Area — 1400
Age — C
Room — 11
Psf — SOLEIL @ SINARAN, TWR A #24 ABOVE
PRICE$ — 99
Type — 1098
District — BN
Street — 2
Tenure — 1480
Area — C
Age — 11
Room — SOLEIL @ SINARAN, TWR A #24
Psf — 99
PRICE$ — 1098
Type — BN
District — 2
Street — 1685
Tenure — C
Area — 11
Age — SOLEIL @ SINARAN, TWR B #07
Room — 99
Psf — 958
PRICE$ — BN
Type — 2
District — 1600
Street — C
Tenure — 11
Area — SOLEIL @ SINARAN, TWR B #31
Age — 99
Room — 1464
Psf — BN
PRICE$ — 3
Type — 1700
District — C
Street — 11
Tenure — THE SHELFORD, BLK 1 #02
Area — FH
Age — 1033
Room — 1
Psf — 2
PRICE$ — 1450
Type — C
District — 11
Street — THE SHELFORD, BLK 1C #05
Tenure — FH
Area — 2174
Age — 01+
Room — 4
Psf — 0
PRICE$ — C
Type — 11
District — THE SHELFORD, BLK 1D #04
Street — FH
Tenure — 1453
Area — 02+
Age — 3
Room — 1652
Psf — C
PRICE$ — 11
Type — THE TREVOSE, BLK 60 #05
District — 99
Street — 2000
Tenure — 7
Area — 2
Age — 0
Room — C
Psf — 11
PRICE$ — THOMSON 800, BLK 806 #20
Type — FH
District — 5800
Street — 05+
Tenure — 4
Area — 0
Age — C
Room — 11
Psf — VILLA DES FLORES, #03
PRICE$ — FH
Type — 1743
District — 10+
Street — 3
Tenure — 1147
Area — H
Age — 11
Room — 1 MOULMEIN RISE, #18
Psf — FH
PRICE$ — 1238
Type — 04+
District — 3
Street — 1480
Tenure — H
Area — 11
Age — IRIDIUM, #05
Room — FH
Psf — 1066
PRICE$ — BN
Type — 3
District — 1480
Street — H
Tenure — 11
Area — STRATA, #10
Age — FH
Room — 506
Psf — 1
PRICE$ — 1
Type — 0
District — H
Street — 11
Tenure — SUITES @ SURREY, #03
Area — FH
Age — 893
Room — BN
Psf — 2
PRICE$ — 0
Type — H
District — 11
Street — TEN @ SUFFOLK, #12
Tenure — FH
Area — 1087
Age — BN
Room — 2
Psf — 1480
PRICE$ — H
Type — 11
District — TEN @ SUFFOLK, #13
Street — FH
Tenure — 1206
Area — BN
Age — 3
Room — 1480
Psf — H
PRICE$ — 11
Type — THE AXIS, #07
District — FH
Street — 1141
Tenure — BN
Area — 3
Age — 1150
Room — H
Psf — 11
PRICE$ — THE LINCOLN MODERN, #18 TO #30
Type — FH
District — 1300
Street — BN
Tenure — 3
Area — 0
Age — H
Room — 11
Psf — THE LINCOLN MODERN, #18
PRICE$ — FH
Type — 1410
District — 02+
Street — 2
Tenure — 0
Area — L
Age — 11
Room — DUNEARN LODGE, #04
Psf — 99
PRICE$ — 969
Type — 09+
District — 3
Street — 0
Tenure — L
Area — 11
Age — KELLETT CT, #01
Room — FH
Psf — 880
PRICE$ — 10
Type — 2
District — 1705
Street — L
Tenure — 11
Area — SHELFORD RD NO.28, #03
Age — FH
Room — 840
Psf — 14+
PRICE$ — 2
Type — 1845
District — T
Street — 11
Tenure — WATTEN HILL CONDO, NO.73
Area — FH
Age — 2626
Room — 20+
Psf — 3
PRICE$ — 1104
Type — W
District — 11
Street — GREENWOOD AVE, NO.18A (2ND FLR)
Tenure — FH
Area — 1200
Age — 30+
Room — 3
Psf — 0
Singapore Real Estate - Buy , Sell , Rent ,invest Singapore Property

Buy, sell and rent Singapore real estate: private property, residential apartments, commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop, factory, warehouse & land right here.

MINDY YONG

( +65 ) 91002985

mindy@mindyyong.com ( email me )

http://www.hotvictory.com

For Sale VARSITY PARK @ West Coast - District 05

For Sale VARSITY PARK @ West Coast - District 05

Varsity Park Condo @ West Coast
3 room + ensuite. 1346sqft
Blk 62, face pool

Asking 850psf

District — D05
Floor Lvl –
Location — VARSITY PARK– CLEMENTI RD
Rms — 3+1
Type — APT
Floor Area — 2293
District — D05
Floor Lvl –
Location — VARSITY PARK — CLEMENTI RD
Rms –
Type — APT
Floor Area — 2200
District — D05
Floor Lvl –
Location — VARSITY PARK– CLEMENTI RD
Rms — 3+1
Type — APT
Floor Area — 1636
District — D05
Floor Lvl — L
Location — VARSITY PARK — CLEMENTI RD
Rms — 3+1
Type — APT
Floor Area — 1292
District — D05
Floor Lvl –
Location — VARSITY PARK– CLEMENTI RD
Rms — 3+1
Type — APT
Floor Area — 2200
District — D05
Floor Lvl –
Location — VARSITY PARK– CLEMENTI RD
Rms — 2+1
Type — APT
Floor Area — 1013
District — D05
Floor Lvl –
Location — VARSITY PARK — CLEMENTI RD
Rms –
Type — APT
Floor Area — 1314
District — D05
Floor Lvl –
Location — VARSITY PARK — CLEMENTI RD
Rms –
Type — APT
Floor Area — 1399
District — D05
Floor Lvl –
Location — VARSITY PARK — CLEMENTI RD
Rms –
Type — APT
Floor Area — 1636
District — D05
Floor Lvl –
Location — VARSITY PARK — CLEMENTI RD
Rms — 4+1
Type — APT
Floor Area — 2223
District — D05
Floor Lvl — G
Location — VARSITY PARK — CLEMENTI RD
Rms — 3
Type — APT
Floor Area — 1636
District — D05
Floor Lvl — G
Location — VARSITY PARK — CLEMENTI RD
Rms — 2+1
Type — APT
Floor Area — 1313
District — D05
Floor Lvl –
Location — VARSITY PARK — CLEMENTI RD
Rms — 3
Type — APT
Floor Area — 2270
District — D05
Floor Lvl –
Location — VARSITY PARK — CLEMENTI RD
Rms — 3
Type — APT
Floor Area — 1281
District — D05
Floor Lvl — G
Location — VARSITY PARK — CLEMENTI RD
Rms — 4+1
Type — APT
Floor Area — 1894
District — D05
Floor Lvl –
Location — VARSITY PARK — CLEMENTI RD
Rms — 3+1
Type — APT
Floor Area — 2325
District — D05
Floor Lvl –
Location — VARSITY PARK — CLEMENTI RD
Rms — 3+1
Type — APT
Floor Area — 2207
District — D05
Floor Lvl –
Location — VARSITY PARK — CLEMENTI RD
Rms — 3+1
Type — APT
Floor Area — 1431
District — D05
Floor Lvl –
Location — VARSITY PARK — CLEMENTI RD
Rms — 3
Type — CDO
Floor Area — 2207
District — D05
Floor Lvl — G
Location — VARSITY PARK — CLEMENTI RD
Rms — 3
Type — CDO
Floor Area — 1615
District — D05
Floor Lvl –
Location — VARSITY PARK — CLEMENTI RD
Rms — 2+1
Type — APT
Floor Area — 1033
District — D05
Floor Lvl — G
Location — VARSITY PARK — CLEMENTI RD
Rms –
Type — APT
Floor Area — 1636
District — D05
Floor Lvl –
Location — VARSITY PARK — CLEMENTI RD
Rms — 3+1
Type — APT
Floor Area — 1475
District — D05
Floor Lvl –
Location — VARSITY PARK — CLEMENTI RD
Rms — 2+1
Type — APT
Floor Area — 1012
District — D05
Floor Lvl –
Location — VARSITY PARK — CLEMENTI RD
Rms –
Type — APT
Floor Area — 2207
District — D05
Floor Lvl — G
Location — VARSITY PARK– CLEMENTI RD
Rms –
Type — APT
Floor Area — 1475
District — D05
Floor Lvl –
Location — VARSITY PARK — CLEMENTI RD
Rms — 2
Type — APT
Floor Area — 1313
District — D01
Floor Lvl — G
Location — VARSITY PARK — CLEMENTI RD
Rms — 4+1
Type — APT
Floor Area — 1636
District — D05
Floor Lvl –
Location — VARSITY PARK –CLEMENTI RD
Rms — 3+1
Type — APT
Floor Area — 1470
District — D05
Floor Lvl –
Location — VARSITY PARK –CLEMENTI RD
Rms –
Type — APT
Floor Area — 1033
District — D05
Floor Lvl –
Location — VARSITY PARK –CLEMENTI RD
Rms –
Type — APT
Floor Area — 1615
District — D05
Floor Lvl –
Location — VARSITY PARK –CLEMENTI RD
Rms — 4+1
Type — APT
Floor Area — 1582
District: 5

Top: 03/2008 expected
Tenure: 99 from 03/05
Developer: Clementi Complex Pte Ltd
(Capitaland Ltd)
Facilities:

Swimming Pool
Wadding Pool
‘Beach’ Lagoon
Stream
Picnic Lawn
Barbeque
Gymnasium
Exercise Station
Fitness Area
Taichi Corner
Tennis Court
Playground
Putting Green
Treehouse
Clubhouse
Sauna
Karaoke Room
Function Room
Reading Room

Singapore Real Estate - Buy , Sell , Rent ,invest Singapore Property

Buy, sell and rent Singapore real estate: private property, residential apartments,commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating
expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop,factory, warehouse & land right here.

MINDY YONG

( +65 ) 91002985

mindy@mindyyong.com ( email me )

http://www.hotvictory.com

For Rent Singapore Apartment / Condo District 09-10,03.01.2008

For Rent Singapore Apartment / Condo, 03.01.2008

For Rent Singapore Apartment / Condo, 03.01.2008

Name of Project — River Place - 60 Havelock Road, S(169658)
No. of bedrooms — 2+1
Area (sq. ft.) — 1894 - 1970
Asking Rental(subject to GST) — $11,600 - $13,000
Amenities — 2-storey maisonette with outdoor jacuzzi
Remarks — min. 1 year stay
Name of Project — River Place - 60 Havelock Road, S(169658)
No. of bedrooms — 3+1
Area (sq. ft.) — 2357
Asking Rental(subject to GST) — $13,000
Amenities — Full condo facilities
Remarks — min. 1 year stay
Name of Project — Grange 70/80 - 70/80 Grange Road, S (249574)
No. of bedrooms — 4+1
Area (sq. ft.) — 1981 - 2314
Asking Rental(subject to GST) — $14,800 - $16,300
Amenities — swimming pool, gym, sauna, private lift lobby compliment. facilities at Leonie Condotel
Remarks — min. 1 year stay
Name of Project — Orange Regency - 101 Fernhill Road, S (259139)
No. of bedrooms — 4+1
Area (sq. ft.) — 1765 - 1776
Asking Rental(subject to GST) — $10,600 - $12,900
Amenities — swimming pool, gym, furo bath, bbq pits, Next to Shangri-La Hotel,
Remarks — min. 2 years stay
Name of Project — Icon - No. 10 Gopeng Street S(078878)
No. of bedrooms — 2+1
Area (sq. ft.) — 1119
Asking Rental(subject to GST) — $11,700
Amenities — full condo facilities
Remarks — min. 2 years stay
Name of Project — Icon - No. 10 Gopeng Street S(078878)
No. of bedrooms — 3+1
Area (sq. ft.) — 1249
Asking Rental(subject to GST) — $11,800
Amenities — Hot Tub, Terrace garden and Aroma area
Remarks — min. 2 years stay
Name of Project — Chancery Grove Townhouse - 27/29 Chancery Lane
No. of bedrooms — 3+Roof Garden
Area (sq. ft.) — 2540 - 2766
Asking Rental(subject to GST) — $12,700 - $13,900
Amenities — swimming pool, gym, bbq pits
Remarks — min. 2 years stay
Name of Project — Cavenagh Lodge - 81 Cavenagh Road S(229626)
No. of bedrooms — 3+1
Area (sq. ft.) — 1486 - 1697
Asking Rental(subject to GST) — $7,100 - $8,300
Amenities — swimming pool, gym, furo bath, bbq pits,
Remarks — min. 1 year stay
Name of Project — Villa Azura - Cherry Avenue S(279871)
No. of bedrooms — 2+1
Area (sq. ft.) — 1636
Asking Rental(subject to GST) — $6,000
Amenities — swimming pool, gym, wading pool, jacuzzi,
Remarks — min. 1 year stay
Name of Project — Gold Palm Mansions - 139 Lorong K Telok Kurau S(425777)
No. of bedrooms — 3+U
Area (sq. ft.) — 1152 - 1582
Asking Rental(subject to GST) — $4,400 - $5,700
Amenities — Swimming pool & bbq pit , Mins walk to Kembangan MRT
Remarks — min. 1 year stay
Name of Project — Gold Palm Mansions - 139 Lorong K Telok Kurau S(425777)
No. of bedrooms — 2+S
Area (sq. ft.) — 947
Asking Rental(subject to GST) — $3,900
Amenities — near Parkway Parade & ECP
Remarks — min. 1 year stay
Name of Project — Meadow Lodge - 31 Chun Tin Road
No. of bedrooms — 4+U
Area (sq. ft.) — 1410
Asking Rental(subject to GST) — $7,000
Amenities — Near Beauty World & Canadian School
Remarks — min. 1 year stay
Name of Project — Meadow Lodge - 31 Chun Tin Road
No. of bedrooms — 3+SR+U
Area (sq. ft.) — 1324
Asking Rental(subject to GST) — $6,700
Amenities — Pool, Gym, Playground, BBQ, Fitness Corner
Remarks — avail. 4 Feb 08
Name of Project — Banyan Condo - 1,3,7 Chwee Chian Road
No. of bedrooms — 3+1U+PES
Area (sq. ft.) — 1528 - 1873
Asking Rental(subject to GST) — $5,500 - $6,100
Amenities — Near NUS and Japanese International School
Remarks — min. 1 year stay
Name of Project — Serenity Park - 157 Tamarind Road
No. of bedrooms — 3+1U+Bal
Area (sq. ft.) — 1313 - 1324
Asking Rental(subject to GST) — $4,200
Amenities — full condo facilities
Remarks — min. 1 year stay
Singapore Real Estate - Buy , Sell , Rent ,invest Singapore Property

Buy, sell and rent Singapore real estate: private property, residential apartments, commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop, factory, warehouse & land right here.

MINDY YONG

( +65 ) 91002985

mindy@mindyyong.com ( email me )

http://www.hotvictory.com

For Sale Apartment / Condo, District 15 - 16 , 03.01.2008

Singapore HDB price gains expected to ease after 17.4% rise

Singapore HDB price gains expected to ease after 17.4% rise

By Jessica Cheam

IT’S official: HDB flat prices enjoyed a spectacular bull run with a 17.4 per cent gain last year - the strongest growth in a decade - but market watchers say a repeat this year is unlikely.
Industry experts estimate that this year’s total growth figure will be less than 10 per cent, due to general resistance in the HDB mass market to higher prices.

Flash estimates released by the Housing Board (HDB) yesterday for the fourth quarter ended Dec 31 showed home prices grew 5.6 per cent from the previous quarter. This is a dip from the strong 6.6 per cent rise in the third quarter and brings the total growth for last year to 17.4 per cent.

The fourth quarter slowdown was expected, due to the recent onset of a more cautious mood among home buyers, said housing analysts.

‘The high resistance level in the resale market is also due to unrealistic sellers demanding high COVs,’ said ERA Realty’s assistant vice-president Eugene Lim.

COV, or cash over valuation, is the cash buyers need to pay upfront over and above a flat’s market valuation.
HDB’s third-quarter data, for example, showed median COVs pushing $100,000 for five-room flats in the Marine Parade, Queenstown and Central areas.

Most HDB buyers cannot afford such money upfront, and this led to a drop in transactions in the fourth quarter, said Mr Lim.

The hiatus in property launches in the private sector also contributed to a general slowdown in resale activity, said HSR Property Group executive director Eric Cheng.

He has put this year’s forecast for HDB flat price growth at a modest 5 per cent to 8 per cent.

‘HDB resale prices also have limited growth, as the government tries to keep homes affordable by offering more supply,’ he added.

PropNex chief executive Mohamed Ismail, however, is more bullish, saying growth could hit 10 per cent or 11 per cent, if Singapore’s economy continues to perform well.

‘There are still many cash-rich buyers from en bloc sales looking in the resale market,’ he said.

Prices in the resale market will still be fuelled by high demand this year, he added.

To address the current housing shortage, HDB recently announced plans for about 4,800 new flats in the first half of this year under its build-to-order scheme, in which flats are built only when a certain level of demand is reached.

It also recently launched a plum site in Bishan for condo-style HDB homes to be built, with more such sites in Simei, Toa Payoh and Bedok to come.

The full data for the fourth-quarter of last year will be released at the end of the month, said HDB.

===================
Latest comments
The 17.4% resale price increase must be good news to many HDB flat owners. But don’t be too happy too early.

If you pause to think, you might wonder if the HDB (aka Government) was behind each property bust and each property boom. The invicible hand intervenes frequently in the property market (esp of the HDB housing type) through new policies and revised policies. There are more policies than the Minister can remember. No wonder the market for HDB flats does not operate in a true willing buyer/seller basis. Let just take the example of HDB valuation.

The value of the HDB flat is given by a HDB appointed valuer. The HDB appointed valuer is guided by HDB’s indicative price. I was told that the valuer then varies the final value by adjusting for the different attrributes of each flat. The value may or may not reflect the market value of the HDB flat since the COV (cash over valuation) component is not taken into account when arriving at the final value of the flat.

COV is really a laugable concept. You don’t find COV in private property transactions. You don’t learn that in any valuation school. No university in the world, NUS included, teaches COV.

How does COV distorts the value of HDB flats? Consider the story in The New Paper on Monday (1 Jan) where it reported a single woman’s dilemma - she could afford to service the loan for a 3-room flat but does not have the money to cover the $20k COV that the seller is asking. That $20k cannot be loaned. That $20k cannot be paid from your CPF ordinary account.

COV requirement immediately removes the group of buyers who do not have ready cash. Even you have money in your CPF also no use. When these particular group of buyers is removed, the market tries to match the property with buyers who have cash. The buyer who is cash rich is also most likely to bid at a higher price, thus pushing up the transacted price.

On the other hand, those with no ready cash go on the long queue for new HDB flats. And the Minister got the cheek to suggest to those who are unsuccessful to buy their flat in the resale market. Resale market means COV means “no go” means back to HDB queue. So frustrating. I suppose when you earn millions you are unable to emphatise with the humble workers. I suppose the Minister does not buy HDB flats, either new or resale.

I like to believe the market value must be the one that the willing buyer and willing seller have agreed to. COV distorts this process.

The government boasts of adopting the best practice and seeks the world for solutions. Why is HDB not adopting the best practice of valuation as is taught worldwide? Only in Uniquely Singapore.

Source : Straits Times - 03 Jan 2008

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

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Warrants boom lifts 2007 trading value to record $28b - Singapore

Warrants boom lifts 2007 trading value to record $28b - Singapore

SG forecasts turnover will more than double to break $60b mark this year

By Yang Huiwen

THE soaring popularity of warrants among Singapore investors has produced a stunning new record in the value of turnover last year.
Local warrants trading exceeded industry forecasts to hit $28.2 billion last year, almost double the total of $14.3 billion in 2006.

This data came from a leading warrants issuer, French bank Societe Generale (SG), which had issued a forecast of $25.8 billion.

Warrants - which give the holder the right to buy or sell an underlying asset such as a stock over a fixed timeframe - are increasingly popular, especially among retail investors, said Mr Ooi Lid Seng, vice-president of Societe Generale’s (SG’s) vice-president of structured products for Asia excluding Japan.

He said investors are looking for more investment opportunities and are getting comfortable with the concept of warrants.

A recent spike in market volatility also contributed to the jump in warrants turnover, he said.

Investors were also spoilt for choice, with a total of 2,237 listed warrants on the Singapore Exchange to pick from, of which 1,718, or 76.8 per cent, were new listings.

Index warrants, namely warrants issued on movements in indexes such as the Straits Times Index (STI) and Hang Seng Index, were the most popular among investors. They accounted for 42.6 per cent of the total warrants turnover.

Explaining the popularity in index warrants, Mr Ooi said: ‘Investors are able to partake in the whole market and gauge the overall market better, instead of picking a particular stock.’

Hang Seng Index warrants topped the list, accounting for $7.89 billion, or 28 per cent, as the futures market for the Hong Kong benchmark is more active and liquid.

STI warrants came in second with turnover of $4.11 billion, or 14.6 per cent. Turnover in STI warrants is expected to increase.

‘If liquidity of STI futures goes up, interest in STI warrants will increase further,’ said Mr Ooi. ‘Hopefully liquidity in the futures market will continue to improve following the revamp of STI.’

The top 10 assets underlying warrants, which comprised mainly indexes and blue chips such as DBS Group Holdings, CapitaLand and SingTel, accounted for 80 per cent of total turnover last year.

Put warrants are also becoming increasingly popular, reflecting the sophistication of local warrant investors, said Mr Ooi. Investors typically buy put warrants to protect their assets and capital from falling share prices.

Put warrants turnover soared 190 per cent from $2.19 billion in 2006 to $6.36 billion last year. Call warrants turnover saw an 80 per cent increase from $12.12 billion to $21.81 billion in the corresponding period.

Warrants turnover this year is expected to break the record set last year, said SG’s director of equity derivatives, Mr Edmond Lee, who predicts that turnover will more than double to top $60 billion this year. ‘High volatility in the market this year will create good trading opportunities for warrant investors,’ he said.

Investors can expect more choices of both local and foreign underlying assets such as issues on the Kuala Lumpur Composite Index and new China listings, as warrant issuers become more aggressive and competitive, he added. Issuers are also expected to offer contracts that track movements in commodity prices and exchange rates.

In comparison, Hong Kong, whose warrants market is about 35 times that of Singapore’s, saw a doubling in the value of warrants traded to HK$4.55 trillion (S$839 billion) last year, from HK$1.73 trillion in 2006, and is set to reach HK$8 trillion this year.
Source : Straits Times - 03 Jan 2008

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Economists unfazed by weaker quarterly growth

Economists unfazed by weaker quarterly growth

Only 1 in 6 polled revises first-quarter estimates despite latest data being weaker than expected

By Nicholas Fang

ANALYSTS are upbeat about the economy’s outlook in the current first quarter despite some weaker-than-expected economic figures yesterday.
In fact, out of six analysts polled by The Straits Times, only one was revising her first-quarter estimate.

The rest are sticking to their guns despite the lower-than-forecast advance estimates for Singapore’s fourth-quarter growth.

Many said a key factor behind the weaker results last quarter was a cyclical slowdown in the pharmaceutical sector, which meant lower manufacturing contributions to economic growth.

This was more a reflection of the industry’s volatility and less a sign of weakening demand. Also, continued strong performances from other sectors, such as services and construction, will buoy the economy, they said.

The Ministry of Trade and Industry yesterday released economic growth estimates for the fourth quarter of 6 per cent on a year-on-year basis, after a 9 per cent gain in the third quarter.

On a quarter-on-quarter seasonally adjusted annualised basis, economic output actually fell by 3.2 per cent compared with a 4.4 per cent gain a quarter earlier.

This translates to a 7.5 per cent economic growth for the full year, which falls at the bottom end of the official government forecast range of 7.5 per cent to 8 per cent full-year growth.

Advance estimates are computed largely from data from the first two months of the quarter and are subject to revision when more comprehensive data becomes available.

Of the six analysts polled, only Ms Selena Ling, an economist with OCBC, lowered her first-quarter forecast to 5.8 per cent from 6.2 per cent after reviewing the advance fourth-

quarter estimates. She also lowered her full-year 2008 estimates by half a percentage point to 6 per cent.

A key financial indicator of how the first quarter will perform is if the notoriously volatile pharmaceutical sector remains suppressed this year or bounces back rapidly, she said.

However, United Overseas Bank economist Ho Woei Chen believes there is no need to panic.

Although surprised at the weaker numbers, she said: ‘It’s down to the routine shutdown of plants in the pharmaceutical industry, which is part of the production process.

‘The sector tends to be inelastic to global business cycles, and I expect the biomedical industry to do well in the first half of this year and offset any potential slowdown in the electronics sector.’

She maintained her first-quarter estimate of 5.5 per cent and expected full-year gross domestic product to grow by 6.3 per cent.

The construction sector is expected to benefit from work on two integrated resorts and the Marina Bay Financial Centre, which are moving into the higher-value stages of development, Ms Ho added.

‘Services and tourism will also receive a boost when attractions and events, such as the Formula 1 race, come to town,’ she said.

When asked if fears of a technical recession - when the economy contracts for two quarters in a row - are well-founded, Action Economics economist David Cohen said it was not an impossibility.

‘We have to wait and see how things play out in the rest of the world. But the unemployment rate is at its lowest in almost a dozen years, so any contraction would literally be ‘technical’ because it is obviously not a downturn here in Singapore.’

He also said he expected the latest numbers to encourage the Monetary Authority of Singapore (MAS) to exercise patience when it came to adopting an aggressive monetary policy to handle burgeoning inflation.

A stronger Singapore dollar will help reduce prices of imported goods, but will also make exports more costly and less competitive. Singapore’s latest November consumer price index surged 4.2 per cent - a 25-year high.

Mr Cohen said: ‘The moderating growth is likely to encourage the central bank to exercise patience when it comes to steepening currency appreciation to handle inflation.

‘Any pickup in inflation this year could also be attributed to the hike in the goods and services tax, which cannot be dealt with through monetary policy anyway.’

Ms Ling agreed, saying: ‘The moderating growth should dampen speculation that the MAS will shift to a more aggressive monetary policy before its policy review in April.’
Source : Straits Times - 03 Jan 2008

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Singapore Rental flats: Review to weed out less needy

Singapore Rental flats: Review to weed out less needy

As demand rises, 2,200 more HDB rental flats to be made available over next three years

By Tan Hui Yee, Housing Correspondent

PEOPLE who have sold a property could find themselves barred or placed at the back of the queue for subsidised rental housing as part of a policy review to weed out the less needy.
National Development Minister Mah Bow Tan said yesterday that the Housing Board was getting an increasing number of applications from the elderly, as well as divorcees with kids in tow.

Some of these applicants already own homes but were looking to sell them and move into subsidised rental housing to save money.

Existing rules state that those who sell a property have to wait 30 months before being eligible to rent.

Mr Mah, who was visiting a batch of 180 newly converted rental flats in Woodlands, said these applicants may not be as needy as others in the queue.

‘If you owned a bungalow, you sold it, you wait for 30 months; to be fair to others, you shouldn’t be joining the queue.’

The rental homes are for Singaporeans who ‘really have no other options’.

The minister said that the number of applicants facing such hardship has gone up, but not significantly.

‘For them, we will have rental flats available,’ he said.

The HDB is also assessing cases of couples who have to sell their flats following a divorce and then seek rental housing after they find alternative accommodation too costly.

Rising property prices and rentals islandwide have swelled the ranks of those seeking subsidised rental housing.

There are about 3,000 applicants in the queue and they have to wait for five to 11 months to get a flat - twice as long as a year ago.

Demand is so high that the HDB yesterday scrapped its Daily Selection Scheme. This let applicants pick leftover rental flats for immediate occupation after monthly flat allocation exercises.

It said the ‘high take-up’ of rental flats in the monthly exercises made the daily scheme unnecessary. The HDB, which allocates subsidised flats to families earning no more than $1,500 a month, charges $26 to $205 a month for a one-room rental flat and $44 to $275 a month for two-room flats.

The first batch of 180 flats in Woodlands, which were converted from three- and four-room flats, will be ready for allocation this month.

Another 748 rental flats in Boon Lay will be added to the pool in March, while 290 in Redhill will be ready early next year. Meanwhile, 976 rental flats will be built from scratch in Choa Chu Kang, Sembawang and Yishun and will be ready in 2010.

The new projects will add a total of 2,194 homes to the stock of 42,000 rental one- and two-room flats.

On another note, Mr Mah downplayed talk that many couples were delaying marriage because of rising property prices and the long wait for new subsidised HDB flats.

‘(Getting a flat is) not the reason why people get married, right?’ he asked, pointing out that they could still rent a flat or live with their parents while they wait for their new homes to be built.

Source : Straits Times - 03 Jan 2008

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Private home prices up 31% last year in Singapore

Private home prices up 31% last year  in Singapore

But fourth-quarter figures show signs of slower growth; HDB resale prices up 17.4%

By Fiona Chan, Property Reporter

HOME hunters can ring in the new year with some cheer - the roaring property market is finally showing signs of slowing.
Prices of all categories of homes grew at a lower rate at the end of last year, after months of climbing at a breakneck pace.

Growth braked the most at the highest end of the market, allowing cheaper suburban homes to lead the price rises for the first time in years.

Even with the slowdown, private home prices still beat most forecasts by shooting up 31 per cent for the whole year - triple that of 2006 and the most since 1999.

HDB resale prices climbed 17.4 per cent - the highest rise in a decade - up from only 2 per cent the year before.

‘It’s a spectacular rise,’ declared Mr Nicholas Mak, director of research and consultancy at Knight Frank.
Mr Li Hiaw Ho of property consultancy CB Richard Ellis (CBRE) estimated that developers sold a record 15,000 new homes last year, up from 11,147 in 2006.

Most property experts are unfazed by the smaller price rises in the last quarter, saying that the deceleration was ‘expected’ and ‘healthier’.

Growth in home prices slowed across the board from October to December, according to estimates released by the Government yesterday. The official figures will be out on Jan 25.

Overall, private home prices rose 6.6 per cent in the period, less than the 8.3 per cent in the previous three months.

At the top end, prices of homes in central areas such as Orchard, Cairnhill and Tanglin rose 7 per cent, down from 8.3 per cent growth in the July to September period.

City-fringe homes, such as in Marine Parade and Bishan, rose in price by 7.3 per cent, from 7.9 per cent earlier.

Suburban properties were the quarter’s star, thanks to new projects launched at benchmark prices, said Mr Li. Homes in areas such as Bukit Batok and Choa Chu Kang saw prices rise 7.5 per cent, just below the 7.9 per cent previously.

As for HDB resale flats, prices grew 5.6 per cent, a tad lower than the 6.6 per cent in the previous three months.

The lower price rises ‘may indicate that buyers are turning cautious in view of events in the fourth quarter,’ said Mr Eugene Lim, assistant vice-president of property firm ERA Singapore.

These include the global fallout from the United States sub-prime mortgage crisis and concerns over a possible US recession, which could have hurt investor confidence.

Yesterday, Minister for National Development Mah Bow Tan told reporters that while such ‘external factors’ are beyond the Government’s control, it will ‘keep a very close eye’ on the property market.

‘It’s really up to us…to tweak those policy levers’ to keep property prices stable or let them move in tandem with economic fundamentals, he said.

Already, the Government’s scrapping of the deferred payment plan in October may have cooled sentiment, especially for luxury homes.

But despite these pressures on demand, developers are not cutting prices, said Mr Lim. ‘We are seeing a situation where prices are not coming down, but neither are they going up.’

For this year, some buyers expect a market correction, as more homes come on stream.

But experts said home demand is set to stay strong this year on the back of a growing economy and population.

CBRE’s Mr Li expects luxury home prices to stay at current levels and cheaper homes to grow in price by 10 to 15 per cent. More bullishly, Mr Ku Swee Yong of Savills Singapore predicts suburban home prices will rise by 30 to 50 per cent.
Fourth-quarter prices

Private homes up 6.6 per cent (8.3%)

Top-end homes up 7 per cent (8.3%)

City-fringe homes up 7.3 per cent (7.9%)

Suburban homes up 7.5 per cent (7.9%)

HDB resale flats up 5.6 per cent (6.6%)
*THIRD-QUARTER FIGURES IN BRACKETS

Source : Straits Times - 03 Jan 2008

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