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carbuncle
27-10-12, 10:20
Home supply to see record surge
35,000 private units will be completed in next two years
Oct 27, 2012
By Esther Teo, Property Reporter
*
Bedok and nearby areas will be at the epicentre of a record breaking surge in private home completions over the next two years, new analysis shows.
This burst of construction is, in part, the fruit of recent government efforts to cool the red-hot property market with a bumper release of residential sites.
More than 35,000 private non-landed homes are set to be completed in 2013 and 2014 alone, the National Development Ministry said in Parliament recently.
This is far more than the 9,900 units completed in 2010 and the 11,700 homes built last year. Another 12,500 homes are slated for completion this year.
The greatest number of these new homes will be built in an area known as the Bedok planning area, covering neighbourhoods such as Telok Kurau, Siglap, East Coast Road and Jalan Eunos.
Almost 10 per cent of all non-landed homes - about 3,500 units - built in the two-year period will be in this eastern estate, analysis by property consultancy Colliers International showed.
Examples of new projects in the area include Flamingo Valley, Vacanza@East, Suites@East Coast, The Sound and Waterfront Key.
Colliers' director of research and advisory, Ms Chia Siew Chuin, said a majority of the upcoming projects in Bedok are built on redeveloped private land or collective sale sites.
But while Bedok topped the table for both 2013 and 2014, thousands of homes to be built next year will be in other areas such as Geylang and Hougang. The Bukit Timah and Bukit Merah planning areas rank second and third for 2014.
Ms Chia also flagged the Hougang planning area as one expected to see supply surge over the next two years. It ranks third next year and fourth in 2014.
About 1,240 units - or 9.4 per cent - of the 13,231 non-landed private homes expected to be completed next year are in this north-east planning area. Hougang includes areas such as Upper Serangoon, Yio Chu Kang Road and the Kovan area.
In 2014, the projected number is set to increase to 1,681 units. Its share of the year's total, however, is expected to decline to 7.6 per cent of the 22,042 homes that are slated to be built nationwide.
Projects slated for completion next year include The Minton on the former Minton Rise site, Isuites@Palm on a former landed housing site, and 21 Richards on the former Richards Mansions site.
Projects due to be completed in 2014 include Boathouse, Terrasse and Parc Vera. These three projects are built on land sold by the Government and boast a total of 1,359 units. They represent 81 per cent of the total expected completions of private non-landed homes in Hougang during the year.
Experts note, however, that the expected completions are based on developers' declarations.
The actual completion period may change according to developers' adjustments to their plans or construction schedules, according to market conditions, they add.
International Property Advisor chief executive Ku Swee Yong said that while the Punggol and Sengkang areas do not feature strongly in the official completion figures over the next two years, supply is slated to surge in 2015 and beyond.
"Some of these projects could also be completed ahead of schedule since they have seen strong take-up," he said. "Completions in 2013 and 2014 could total 40,000 units instead."
"Prices of homes in the north-east are expected to stagnate but may not come down as low interest rates mean that buyers can still afford to hold... But we can expect the rental market to be very competitive."
Punggol projects such as the 992-unit Watertown are expected to be completed in 2017 while 882-unit A Treasure Trove is slated for completion in November 2015

carbuncle
27-10-12, 10:26
Note most projects will complete a yr or two earlier. Take isuites@palm for eg mentioned, it is actually already top.

Sleepyhead
27-10-12, 10:43
Oops.. So those who bought as investments in the east.... Beware of the competition! :eek:

radha08
27-10-12, 11:00
Oops.. So those who bought as investments in the east.... Beware of the competition! :eek:


just lower rental sure can get tenant...i dont think i ever heard anybody ever say cannot find tenant...:cheers1:

CondoWE
27-10-12, 11:16
Oops.. So those who bought as investments in the east.... Beware of the competition! :eek:

Not only east, every where in Singapore is the same.....:banghead: !


just lower rental sure can get tenant...i dont think i ever heard anybody ever say cannot find tenant...:cheers1:

I totally agree..:D !

Laguna
27-10-12, 11:31
IMHO, it is not a balanced reporting.

I tot, there are more properties in Sengkang, Punggol, Serangoon, etc...
perhaps, the report shall put up a more comprehensive table....

carbuncle
27-10-12, 12:07
IMHO, it is not a balanced reporting.

I tot, there are more properties in Sengkang, Punggol, Serangoon, etc...
perhaps, the report shall put up a more comprehensive table....

She just gog by pure numbers. 10% for East, Bedok planning area. But does she realise that the physical area is soooo huge.... Spanning across so many towns.

From wiki

The Bedok Planning Area, an urban planning zone under the Urban Redevelopment Authority, encompasses the Bedok New Town itself, the low-rise private residential areas along Upper East Coast Road, and in the districts of Kembangan, Siglap and Telok Kurau, and the high-rise private condominium developments in the eastern part of Marine Parade.

phantom_opera
27-10-12, 12:27
Hong kong us the real oriental pearl
Bedok is hk witin sg

The new hk CM will push hk property price even higher by end of year another 10pc

Laguna
27-10-12, 12:31
Hong kong us the real oriental pearl
Bedok is hk witin sg

The new hk CM will push hk property price even higher by end of year another 10pc

the same applies to Singapore

phantom_opera
27-10-12, 12:45
It is inevitable that hk will be next Tokyo, sg the next Osaka, we are still so far from 10kusd Psf peak of Japan which after inflation adjusted is around 20000sgd Psf today

phantom_opera
27-10-12, 12:58
葵花宝典pg1 to become 天下无敌
peg your interest or currency to US