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Thread: The Sunday Times Property Buying Guide

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    Default The Sunday Times Property Buying Guide

    May 20, 2007

    PROPERTY

    Hot spot: River Valley

    By Fiona Chan and Ng Sook Zhen


    From River Valley to Kallang Basin, from Kuala Lumpur to Perth, The Sunday Times brings you a buying guide to property hot spots in Singapore and the region. This week, we focus on River Valley, where home prices have risen by between 15 and 30 per cent in the past year. As condo after condo goes on en bloc in the area, buyers can expect at least a dozen new launches over the next 18 months. Fiona Chan and Ng Sook Zhen zoom in on the area.
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    Default Trendy living by the riverfront

    May 20, 2007

    KIM YAM/ROBERTSON

    Trendy living by the riverfront



    TOWARDS THE RIVER, trendy new launches have pushed up the average price barrier in the area. -- ALPHONSUS CHERN


    BORDERED on two sides by River Valley Close and Kim Yam Road, this area stretches down to the Singapore River and the Mohamed Sultan corridor.

    On one end are old-style shophouses and walk-up apartments, with the odd condominium such as Kim Yam Heights, Gambier Court and Euro-Asia Court.

    Average prices of units in these older developments range from more than $710 psf to over $1,000 psf. One of the few new projects in River Valley Close, Urbana, broke past the $1,400 psf mark in April.

    Towards the river, trendy new launches have pushed up the average price barrier. Recent sales at Inspira have averaged $1,140 psf, while those at Watermark Robertson Quay have gone up to an average of $1,220 psf.

    Over at Rivergate, average prices since the start of the year have even hit $1,600 psf.

    In general, home prices in this area have moved up about 15 per cent to 30 per cent over the past 12 months, according to caveats lodged with the URA.

    Asking rentals for a three-bedroom apartment range from more than $3,000 at Rivera Point to about $5,500 for Kim Yam Heights and $6,500 for Urbana.

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    Default Sprightly old-world retreat

    May 20, 2007

    HOLT/MUTIARA

    Sprightly old-world retreat



    FAMOUS EATERIES and popular restaurants such as chicken rice chain Boon Tong Kee line this section of River Valley Road. -- ALPHONSUS CHERN


    LACED with famous eateries along the main road, with a sprinkling of some newer developments, the Holt/Mutiara area oozes old-world charm with its low-rise architecture.

    Shophouses and boutique condos are the mainstay of the area, which is also home to popular restaurants such as chicken rice chain Boon Tong Kee.

    From the fairly new Nathan Place to the older Nathan Ville, most of the apartment blocks in the area are below 24 storeys and offer a wide range of prices.

    At the Jervois and Holt end, average home prices top $1,100 per sq ft (psf) and buyers can expect to fork out about $2 million or more for a typical unit.

    Units at Valley Park across the road, unusually large for the area with 728 units, have regularly crossed $1,000 psf recently.

    But prices drop somewhat further down the road towards Jalan Mutiara. At projects such as Mutiara View and The Aston, average prices range from $650 psf to $1,000 psf, with most units at around $1 million.

    In general, prices in the area have risen by 15 to 25 per cent over the last year.

    Asking rentals for the area during the first three months of the year averaged $3,500 to $5,000 for a two- or three-bedroom unit, according to property firm Savills Singapore.

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    Default Bustling hive of activity

    May 20, 2007

    KIM SENG

    Bustling hive of activity



    IT'S A FRENZY around Great World City (left), with The Cosmopolitan (right) taking shape while The Trillium awaits construction. -- ALPHONSUS CHERN


    LIFE in this area revolves around anchor mall Great World City. Here, shophouses of the Holt area give way to larger developments and equally large construction sites.

    Home prices in this up-and-coming area have risen about 20 to 30 per cent over the last year, and now it is hard to get a 1,300 sq ft unit for under $1.5 million.

    Mid-sized condominiums such as Melrose Park and Tiara sit at one end, with prices hovering at about $1,000 psf to $1,200 psf. Yong An Park, known for its good-sized units, sits at the other end, with at least one recent deal hitting $1,405 psf.

    In the middle is a hotbed of construction activity focusing on The Cosmopolitan and The Trillium, both along Kim Seng Road facing Great World City.

    Units at The Cosmopolitan have averaged $1,450 psf, while those at The Trillium are going for about $1,700 psf.

    Average monthly asking rents for a two- or three-bedroom unit are $4,500 to $6,500, said Savills. At Tiara, the 3+1 bedroom units are seeking more than $5,000 a month.

    At Yong An Park, rents have shot up. Units of 3,300 sq ft in size are now asking about $15,000 a month.

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    Default Towering above the rest

    May 20, 2007

    LEONIE

    Towering above the rest



    IMPOSING SKYSCRAPERS such as Horizon Towers (left) and Grangeford (right) lend an air of majesty to this ultra-posh enclave in River Valley. -- ALPHONSUS CHERN


    KNOWN for its peaceful air and exclusivity, the purely residential Leonie area is River Valley's poshest condominium belt.

    Its mainly bigger units in high-rise buildings have helped make it one of Singapore's most sought-after suburbs.

    As these skyscraping condos test vertical limits by towering over the rest of River Valley, so do their prices, which have risen about 25 to 30 per cent in the last year. They start at about $1,100 psf for Leonie Gardens and soar to $1,630 psf for Leonie Hill Residences.

    But buyers of upcoming developments will have to pay more. A few luxury projects in the area, including The Lumos and Leonie Parc View, are set for launch at prices ranging from $2,500 psf to $3,000 psf.

    And as more condos go en bloc, such as Horizon Towers and Furama Tower, prices could rise even further over the next year. Plenty of construction is also to be expected in the still-quiet area.

    Rentals generally keep pace with the higher prices in this part of town, with average asking rents ranging from $4,500 to $6,500 a month for a two- or three-bedroom apartment, said Savills.

    At brand-new Leonie Studio, asking rents for a two-bedroom unit are about $5,000 to $6,000 a month. But they can go as high as $7,000 to $8,000 for a three-bedroom apartment at Leonie Hill Residences.

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    Default Mid-rise boutique belt

    May 20, 2007

    ST THOMAS/KILLINEY

    Mid-rise boutique belt



    SMALL-SCALE, INTIMATE DEVELOPMENTS like Eng Tai Mansion may soon be a thing of the past as collective sale fever sweeps through the St Thomas area. -- ALPHONSUS CHERN


    THOUGH the area consists of mostly older mid-rise boutique apartments, it is now peppered with construction sites due to bustling collective sale activity.

    Prices on the St Thomas and Devonshire side have risen 20 to 30 per cent in the last 12 months. They average $1,300 psf for The Abode at Devonshire and have hit almost $2,000 psf for one unit at the newly-launched SkyPark.

    St Thomas Suites, which was launched in January, sold for between $1,700 psf and $2,100 psf, according to Savills. Nearby St Thomas Court, Chez Bright Apartments and Airview Towers have all gone en bloc.

    On the other side of River Valley Road, the construction noise diminishes. But the prices have skyrocketed in the last year.

    Prices at Pacific Mansion have risen 70 per cent to about $933 psf, while those at The Regalia have nearly doubled to almost $1,100 psf.

    As for monthly rents, a three-bedroom unit at The Morningside is now going for $4,800, while one at Pacific Mansion can be yours for $3,200.

    At The Abode in Devonshire, the asking price for a two-bedroom unit is $4,500. Next door, Devonshire Apartments has a one-bedroom unit up for grabs at $2,500, and two three-bedroom apartments going for between $3,600 and $4,000.

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    Default Saturated with dramatic contrasts

    May 20, 2007

    LLOYD/OXLEY

    Saturated with dramatic contrasts



    TRADITION TAKES A BACK SEAT as a new apartment block rises next to the Buddhist Lodge in Kim Yam Road. -- ALPHONSUS CHERN


    WHAT is most striking about the area that stretches from Lloyd Road to Oxley, especially as you travel down the River Valley Road, is its inconsistency.

    First you see the Automobile Association, then a line of elderly folks returning from prayers at the nearby Buddhist Lodge.

    Further down the road, aged mid-rise apartments are juxtaposed with new developments, while shophouses selling everything from furniture to beer line the main road.

    It all conjures up an impression of colourful confusion.

    Major developments include newly-completed The Imperial and The Botanic on Lloyd. The former commands average prices of about $1,240 psf; the latter, $1,450 psf.

    Across the road, Aspen Heights, a favourite with expats, averages about $1,030 psf, with asking rents having risen to more than $6,000 for a four-bedroom unit.

    Rents at The Imperial are slightly lower, ranging from $5,500 to $6,500 a month for a three-bedroom unit, said Savills.

    But the more upscale Botanic on Lloyd tops the area with asking rents of between $8,000 and $9,500 for a three-bedroom apartment, according to Savills.

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    Default Hot Spot: Holland Road

    May 27, 2007

    Holland Road
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    Default Re: Hot Spot: Holland Road

    May 27, 2007

    GREENLEAF

    Quiet stretch with much promise


    GREENERY SEEMS TO BE THE THEME of the area, giving shade to pedestrians and lending a secluded air to the boutique condos and semi-detached houses there. -- STEPHANIE YEOW


    TOWARDS the far end of Holland Road, after it diverts from the main thoroughfare, is a quiet residential area not many people have heard of.

    A large patch of undeveloped land separates this area from the busy stretch of Holland Road. This provides a clue to its name - Greenleaf - and conjures up development possibilities for the future.

    Greenery indeed seems to be the theme of the area, giving shade to pedestrians and lending a secluded air to the boutique condominiums and semi-detached houses there.

    'The area is not very well known and most of the houses are old, so prices haven't risen very much,' said Mr Ku Swee Yong, the director of marketing and business development at Savills Singapore.

    But he added that rising demand and prices of bungalows in the nearby Queen Astrid area are starting to spill over.

    As bungalow rentals and capital values go up, some home buyers and tenants looking for cheaper alternatives are turning to Greenleaf, said Mr Ku.

    In this area, landed homes are selling for an average of $468 psf, Savills said. This means an average price of $3.7 million for a 8,000 sq ft semi-detached four bedroom house.

    Asking rentals keep pace with the price, at between $14,000 and $16,000 a month.

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    Default Re: Hot Spot: Holland Road

    May 27, 2007

    MOUNT SINAI/GHIM MOH

    High price for right schooling


    WHEN EDUCATION COUNTS, those with children to consider will pay more for homes in this area that boasts schools such as Henry Park Primary.

    THE strong presence of schools such as Henry Park Primary and Dunman High help boost home prices in this area, which extends from Ghim Moh near Holland Village to Mount Sinai and Moonbeam towards Ulu Pandan.

    The choices range from HDB flats in Ghim Moh to a sprinkling of condominiums near Ridgewood and Ulu Pandan.

    The middle portion is dominated by landed housing, mostly semi-detached ones.

    Prices for HDB flats in Ghim Moh hover around $200,000 for a three-roomer and $300,000 for a four-roomer.

    Condo prices vary more. At Pandan Valley, buyers can expect to pay $588 psf, or nearly $1 million, for a 1,700 sq ft unit, said Savills. This amount will cover only a 1,033 sq ft unit at Allsworth Park, where units average $956 psf, it added.

    At Moonbeam, semi-detached houses cost about $689 psf, or $2.4 million and up. The houses sold recently range from 3,400 sq ft to about 4,000 sq ft.

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    Default Re: Hot Spot: Holland Road

    May 27, 2007

    QUEEN ASTRID/LEEDON

    Where space comes at a premium



    DREAMING BIG IS THE WAY TO GO, with houses in the area ranging from 12,000 sq ft to 16,000 sq ft. Average prices in the area are about $568 psf and average asking rents can be anywhere from $15,000 to $25,000 a month.


    IT IS easy to form a defining impression of the bungalow area encompassing Queen Astrid, Oei Tiong Ham and Leedon Parks.

    One house has a Bentley and a Mercedes-Benz sitting pretty in a driveway that leads to a massive bungalow with a swimming pool in the backyard.

    Indeed, the tranquillity of the well-known bungalow area - complete with sweeping driveways, large cars and even larger houses - is conducive for dreaming big. Houses in the area range from 12,000 sq ft to 16,000 sq ft, according to Savills Singapore.

    As can be expected, prices are equally mammoth. A 15,500 sq ft Leedon Road bungalow was sold for $11.5 million in July last year, or about $740 psf, an unusually high psf price for a bungalow.

    Average prices in the area are about $568 psf, said Savills, and average asking rents can be anywhere from $15,000 to $25,000 a month.

    Even speculators have cashed in on the rising demand for bungalows. Last year, a 27,372 sq ft house in Queen Astrid Park changed hands three times, for a handsome profit each time.

    It fetched $12.5 million in April, and was then re-sold in May for $16 million. The new owner went on to sell it again for $18 million in December.

    A Oei Tiong Ham Park bungalow was sold last December for $11 million. At almost 21,000 sq ft, this works out to $526 psf, said Savills.

    'It is still considered a very high-quality, low-density housing area, and the scarcity value of all these good-class bungalows has pushed up the value of land prices a lot,' said Mr Ku Swee Yong, Savills Singapore's director of marketing and business development.

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    Default Re: Hot Spot: Holland Road

    May 27, 2007

    HOLLAND VILLAGE

    It's hip and happening



    HOME TO SOME OF THE PRICIEST HDB FLATS in Singapore, a five-room unit in this area could fetch close to half a million dollars, as much as a small condo. -- ALPHONSUS CHERN


    THE heart and soul of Holland Road is Holland Village, which boasts arguably the most hip HDB estate in town, with chic shops and eateries interspersed with a church and a swimming complex.

    Even the never-ending Circle Line construction has not dimmed the area's energy - nor the steady rise in home prices.

    Home prices have jumped over the last year, by up to 60 per cent in condos such as The Merasaga. Two units were recently sold for $1,100 per sq ft (psf), up from about $710 psf last year.

    The Ford @ Holland, which grabbed headlines when it sold out within an hour last November, has seen average prices moving up from $1,200 psf then to $1,300 now.

    In general, average prices of condos in the area are $1,092 psf, said Savills Singapore.

    It added that average asking rentals for a two- or three-bedroom apartment range from $3,500 to $4,000 a month.

    As for HDB flats, Holland Village includes some of the priciest flats in Singapore. Buyers can expect to pay close to $500,000 for a five-room flat - almost as much as a small condo would cost.

    Three-room flats are more affordable, ranging from about $170,000 to about $210,000.

    Home prices here are moving up mainly because buyers anticipate a rise in values when the new Circle Line MRT stations come up nearby, said Mr Ku Swee Yong, Savills Singapore's director of marketing and business development. He added the recent buzz around Buona Vista, including one-north and Rochester Park, has spilled over to the area.

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    Default Re: Hot Spot: Holland Road

    May 27, 2007

    FARRER ROAD

    Homing in on the junction



    WATERFALL GARDENS on the Farrer side of Holland Road commands $1,439 psf.


    SURROUNDING the busy Farrer Road/Holland Road junction is a well-established residential area that is home to several notable condominiums.

    Among them are Leedon Heights, the estate that recorded Singapore's most expensive collective sale, and Farrer Court, which looks set to topple that record soon.

    Interest in the area is growing, thanks to a few recent condo launches in the area, as well as the stirrings of collective sale activity.

    Home prices seem to depend on whether the development is along the Farrer side of Holland Road or on Queensway, at the opposite end.

    At Farrer, average prices are up to 50 per cent higher than at Queensway. Newly launched Waterfall Gardens, for instance, commands $1,439 psf, while Viz @ Holland averages $854 psf.

    Generally, you can expect to pay about $800 psf along Queensway and well upwards of $950 psf for most Farrer homes.

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    Default Re: Hot Spot: Holland Road

    May 27, 2007

    DEMPSEY ROAD

    Good-class homes aplenty



    CHIC WATERING HOLES and trendy eateries also help add fun and spice to the area.


    THANKS to up-and-coming Tanglin Village, most people now associate Dempsey Road with trendy eateries and chic watering holes.

    But the area is better known - to property watchers at least - for its clusters of good-class bungalows, the most prestigious homes available in Singapore.

    Tucked away along the winding roads of Ridout, Swettenham and Peirce are these spacious, limited-edition houses - there are only about 2,500 of them in the whole island.

    Their scarcity means that few deals have occurred this year. But last year, some bungalows in Peirce changed hands for an average of about $600 per sq ft, or $9.7 million for 16,100 sq ft of space, said property firm Savills Singapore.

    Rents average $20,000 to $30,000.

    As demand for high-end homes soars, experts predict that prices and rentals for good-class bungalows will follow. Dempsey Road, with its proximity to town and the spillover from Tanglin Village, is set to be one of the biggest beneficiaries of this trend.

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    Default Hot spot: East Coast Road

    June 3, 2007

    PROPERTY

    Hot spot: East Coast Road

    The Sunday Tims takes a look at this coveted residential district in the east. Joyce Teo and Ng Sook Zhen walk you through this area. Like on the PDF below to view the map of this area.
    Attached Files Attached Files

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    Default Re: Hot spot: East Coast Road

    June 3, 2007

    AMBER ROAD

    Sweeping away the old



    NEW DEVELOPMENTS sweeping in include Amber Residences, due for launch in three months.


    A WAVE of collective sales is gradually sweeping old properties out of the area, to make room for high-style condos that will give the street a brand-new look.

    This enclave is becoming the hottest on East Coast Road as buyers snap up units at yet-to-be-completed, relatively large condos, jacking up the area's value.

    Prices averaged $850 to $1,000 per sq ft (psf) in the first quarter, up 40 to 45 per cent from $600 to $700 psf a year ago, said consultancy CB Richard Ellis (CBRE).

    Condos under construction include Wheelock Properties' 546-unit The Sea View; MCL Land's 400-unit The Esta; the 562-unit One Amber from United Industrial Corp and United Overseas Land; and Ho Bee's 42-unit Vertis.

    The three large freehold condos have seen active sub-sales, said CBRE. They are popular for the location, facilities and well-known developers, said a consultant. Recent deals for The Sea View were done near $1,000 psf on average.

    Buyers will soon have more choices.

    A new project is earmarked for the sites now housing Amber Lodge and Jin Fu Apartments. Voda Land bought these estates en bloc in a private treaty at an undisclosed price and aims to launch Amber Residences in about three months.

    It will be an 'upper mid-market' condo with 114 units in one 21-storey block, said Savills Singapore.

    More condos will come when Far East Organization redevelops Amberville and Rose Garden, which it bought in collective sales last year.

    For now, while construction roars ahead, the existence of older estates like Rose Garden makes for a noisy juxtaposition of past and future.

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    Default Re: Hot spot: East Coast Road

    June 3, 2007

    MARINE PARADE

    Heart of the district with sea-front housing



    HDB FLATS DOMINATE THE AREA though older, large condos such as Mandarin Gardens also enjoy the sea breeze and East Coast Park is just a stroll away.


    MARINE Parade is the heart of the entire East Coast Road district and is a textbook example of how to develop reclaimed land. It brings together a popular shopping mall, schools and sea-front housing all within a linear stretch.

    Public housing dominates, though older, large condos such as Mandarin Gardens and Neptune Court also enjoy the sea breeze and East Coast Park is just a stroll away.

    It is no wonder the HDB flats here, particularly those with sea views, have always commanded a premium. And recently, they have benefited further from the robust activity in the private residential market, said CBRE.

    Prices of five-room flats hit $358 per sq ft (psf) or some $467,000 on average in the first quarter, up 13.5 per cent from a year ago. This compares with a 7 to 8 per cent rise in prices of three- and four-room flats in the same period.

    A four-room flat costs about $334 or some $305,000 on average, up nearly 7 per cent from a year ago.

    But when it comes to rental, the four-roomers seem to be the most sought after. Average monthly rents of four-roomers rose by a hefty 47 per cent to $1.47 psf in the first quarter. This compares with a 23 per cent rise to $1.62 psf for three-roomers and a 7 per cent rise to $1.19 psf for five-roomers, said CBRE.

    Private home prices in the area have risen by 20 to 40 per cent to $700 to $800 psf over a 12-month period as of the first quarter, said CBRE.

    The area's newest large condo is the 99-year leasehold Cote D'Azur.

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    Default Re: Hot spot: East Coast Road

    June 3, 2007

    KATONG

    Oozing old-world charm



    THE HOUSING DEVELOPMENTS IN KATONG, which boats rustic shophouses and a strong Peranakan heritage, are mostly low-rise homes with some boutique condos. -- MAY LIN LE GOFF


    RUSTIC shophouses, good food and a strong Peranakan heritage make Katong a real gem in the East Coast area.

    The housing developments are mostly low-rise, with shophouses and boutique condominiums the mainstay, although there are quaint colonial houses for lease along Kuo Chuan Avenue.

    Apart from the old-world charm, there is 24/7 shopping at Cold Storage in Katong Mall.

    There are few new developments, though more may come as there have been several collective sale targets.

    Sea Breeze Apartments was sold en bloc and should become an 88-unit project while a 229-unit condo in Jago Close is also expected, said CBRE.

    Most of the properties here are small and rather old, so interest has not been very strong, with prices done in the past year or so at between $400 and $787 psf, said CBRE.

    Developments such as Ceylon Crest and Katong Gardens transacted recently at about $540 to $550 psf on average.

    Others such as East Galleria and Bellezza @ Katong go for about $650 psf on average.

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    Default Re: Hot spot: East Coast Road

    June 3, 2007

    ST PATRICK'S

    Sleepy stretch enjoys new lease of life



    THE QUICK SELL-OUT of the 121-unit Grand Duchess has further raised the area's value. Units of the project were sold at $740 psf on average. Five sub-sales were done at $700 psf to $900 psf, says CBRE.


    IF YOU are looking for some peace and quiet in the East Coast locale, then the St Patrick's area might be just your cup of tea.

    The many boutique apartments, nestled alongside schools including St Patrick's Secondary School and CHIJ Katong Primary, enjoy a special serenity that even the construction work at Grand Duchess at St Patrick's and St Patrick's Loft cannot disrupt.

    The sleepy area has seen three launches recently. One was the 37-unit St Patrick's Loft - marketed late last year at over $600 per sq ft (psf). Then came the fast sell-out of the 121-unit Grand Duchess, which created a stir. This project, which sold at $740 psf on average, further raised the area's value.

    Just a year ago, average levels were at just below $500 psf. Five Grand Duchess sub-sales were done at $700 psf to $900 psf, said CB Richard Ellis (CBRE). MCL Land's recently sold-out Tierra Vue rode on the success of Grand Duchess and started sales at $800 psf. One 1,270 sq ft unit was said to have been sold at $1,051 psf, a record for the area, said CBRE.

    More new projects are expected for the area.

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    Default Re: Hot spot: East Coast Road

    June 3, 2007

    JOO CHIAT/TELOK KURAU

    Steady stream of small projects



    JOO CHIAT IS A QUIET RESIDENTIAL ZONE dominated by low-rise boutique developments and terrace houses. -- MAY LIN LE GOFF


    THE sleaze of Joo Chiat is often put in the spotlight but beyond the colourful nightspots, the area is a quiet residential zone dominated by low-rise boutique developments and terrace houses.

    A sprinkling of amenities such as schools, a medical centre, a park and good food also make this a conducive residential district.

    Home prices rose to $600 to $700 per sq ft (psf) on average in the first quarter of the year, up from $450 to $550 psf a year ago, said CBRE.

    There has been a steady stream of small apartments launched, with projects like Le Merritt selling for $650 psf this year. Last month, a 1,626 sq ft terrace house went for $1.2 million while a 2,190 sq ft semi-detached home went for $1.51 million.

    Sim Lian Land bought Wen Yuan Court, K Gardens and Leyuke Apartments last year, but will launch its new project for sale only next year.

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    Default Re: Hot spot: East Coast Road

    June 3, 2007

    SIGLAP/FRANKEL

    Cafes give quiet area some buzz



    BOUTIQUE CONDO AXIS @ SIGLAP, one of the few new projects in the area, sold out in a matter of weeks. -- MAY LIN LE GOFF


    THE hub of activity in the otherwise homogeneous area of bungalows and semi-detached houses is the Siglap Road and East Coast Road junction.

    Siglap Shopping Centre and rows of cafes and eateries give the otherwise quiet area some buzz, upping the area's hip quotient.

    With few new projects, Axis @ Siglap, a 40-unit boutique condo marketed earlier this year, sold out in a matter of weeks at an average price of nearly $800 per sq ft (psf). This was above the range of $600 to $700 psf for most properties in the area, Savills had said.

    The strong demand is good news to developers who have bought sites in the area. Sing Holdings and a fund will redevelop Finland Gardens while Frasers Centrepoint will redevelop Flamingo Valley.

    Prices for landed homes tend to vary widely, though they have moved up moderately. In May, a 4,700 sq ft bungalow on Siglap Road sold for $1.9 million while a 9,586 sq ft bungalow on the same stretch sold for $5 million.

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    Default HOT SPOT: Kallang Basin

    June 10, 2007

    PROPERTY

    HOT SPOT: Kallang Basin

    By Joyce Teo, Property Correspondent and Ng Sook Zhen

    New condos coupled with the Government's plans to revitalise the greater Marina Bay area will inject a lot more buzz into the Kallang Basin district. Already, the values of some residential projects in this area have risen. Joyce Teo and Ng Sook Zhen take a look.
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  23. #23
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    Default Re: HOT SPOT: Kallang Basin

    June 10, 2007

    LAVENDER

    Evolving estate with a bit of everything



    HOUSING IN THE LAVENDER AREA is evolving, with older HDB estates near the MRT station now mixed with newer projects such as Citylights.


    THERE is no escaping the commercial flavour of much of the Lavender area.

    Hardware stores, a funeral parlour and industrial sites pepper the area alongside residential estates.

    Still, housing is slowly evolving, with older public housing estates near the Lavender MRT Station now mixed with newer condo developments such as Southbank and Citylights.

    These two conveniently located condos have seen keen sub-sale interest and rising prices.

    Southbank's 197 residential units were launched nearly a year ago at $600 per sq ft (psf) on average - and prices have since climbed. Asking prices for these condos are near or above $1,000 psf now.

    Due to its central location, the HDB flats in the area tend to command a premium. A fairly new five-room HDB flat in Jellicoe Road, near the Lavender MRT Station, for instance, was sold for $470,000 in April.

    The area is becoming more attractive and the planned injection of more leisure and sports activities along the river should boost demand for housing, said Savills Singapore director of marketing and business development Ku Swee Yong.

  24. #24
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    Default Re: HOT SPOT: Kallang Basin

    June 10, 2007

    KALLANG

    Heartland enclave all set to turn swanky



    RITZING UP the area will be The Riverine by the Park, near the Kallang MRT station and Riverside Park. It has already been fully snapped up. -- ALPHONSUS CHERN


    OLD public housing estates are the mainstay of the Kallang area, with basic amenities such as a train station, a community centre and coffee shops adding a true heartland feel.

    But changes are in store that will inject an upmarket tone, as the area is near the Kallang Basin, which is set to be rejuvenated.

    And just to the south, an upcoming posh 96-unit condo will also jazz things up.

    The Riverine by the Park, which Wing Tai started selling in April, saw strong interest and is now fully sold. Located near Kallang Riverside Park, it is close to the city centre.

    Asking prices in the sub-sale market have surged to as much as $2,000 per sq ft (psf) for a penthouse unit.

    Three-room HDB flats in the area have been sold for $160,000 to $215,000. Five-roomers have gone for $257,000 to $468,000.

    In the years ahead, the public housing in the area will become more posh, as it will boast the first public waterfront homes just to the north. Five blocks of three- to five-room flats will be built on Bendemeer Road in about three years' time.

    On Boon Keng Road, a private developer will soon build condo-like HDB flats under HDB's second design, build and sell scheme.

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    Default Re: HOT SPOT: Kallang Basin

    June 10, 2007

    GEYLANG

    More boutique apartments on the way



    AMONG THE UP AND COMING DEVELOPMENTS in Geylang are three freehold projects on Lorong 30 - The Midas, Atrium Residences and The Arizon.


    GEYLANG needs no introduction to most Singaporeans.

    As one of Singapore's best-known red-light districts, Geylang boasts a vibrant nightlife and a wide array of good food.

    In fact, the area is buzzing with activity during the day too. It is dominated by many small budget hotels and is widely known for its casual eateries serving good local fare often well into the night.

    Boutique apartments are also popular in the area.

    More developments are on the way. Launches early last year included The Arizon and The Midas, followed by the 142-unit Atrium Residences, which is developed by the Novelty Group. All three are being built on freehold plots.

    Existing developments include the 99-year leasehold The Alcove, where average prices are at $375 per sq ft (psf), and the freehold Le Crescendo, which has sold for a higher average of $670 psf this year.

    At Central Grove, the average transacted price this year is $566,800 and asking rents are between $2,800 and $3,000 a month, said Savills Research.

    In the area generally, asking rents for a two- to three-bedroom unit start a little cheaper at an average of $2,000 a month, rising to $3,000 a month, it said.

    Home prices here have not risen much in the past year, said Savills Singapore's director of marketing and business development, Mr Ku Swee Yong.

    He added that the developments in this area attract HDB upgraders, particularly those living nearby, on Sims Avenue and Guillemard Road.

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    Default Re: HOT SPOT: Kallang Basin

    June 10, 2007

    TANJONG RHU

    Residential oasis near the city



    ALONG THE WATERFRONT, residents at (from left) Casuarina Cove, Water Place and Pebble Bay can enjoy views of the Kallang Basin.


    TANJONG Rhu is a large upmarket condo belt with views of the Kallang Basin - and even the sea for some units.

    The lungs of the area are the many large plots of greenery interspersed between the condos, which are fairly new, big and well-designed. Most sit on 99-year leasehold land rather than freehold.

    They are valued for their proximity to the city and the sea. Residents also have easy access to the National Stadium - or the future Kallang sports hub - and several restaurants.

    There are no new launches here, though prices have risen in line with the market and new projects in nearby areas, such as Meyer Road and Marina Bay.

    In the past year, prices have risen 50 to 60 per cent, to an average of $800 to $1,000 per sq ft (psf) in the first quarter, said CB Richard Ellis (CBRE).

    Buyers have shown keen interest in the past year. Last month, at least eight deals were done at Costa Rhu for about $877 psf on average. The 737-unit condo was launched in 1995 at $750 psf on average.

    Agents said buyers prefer projects with views of the Kallang Basin, like Pebble Bay.

    Rents in the area have also risen. For instance, monthly rents at Pebble Bay are up by nearly 27 per cent, going from $2.29 psf to $2.90 psf in the first quarter, CBRE said, citing data from the Urban Redevelopment Authority.

    That means a three-bedroom unit at Pebble Bay will cost about $5,500 a month to lease. Asking rents are even higher, at $6,000 to $8,000 a month, said Savills Research. In general, asking rents for a two- to three-bedroom unit in the area come to $4,000 to $6,000 a month, it said.

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    Default Re: HOT SPOT: Kallang Basin

    June 10, 2007

    MEYER ROAD

    Cosy community on the urban fringe



    NEW DEVELOPMENTS along Mayor Road include CapitaLand's The Seafront @ Meyer (right), coming up just beside The Belvedere. -- ALPHONSUS CHERN


    THE tranquil Meyer area, tucked away just north of the East Coast Parkway, offers a fairly wide mix of housing choices.

    There is a clear delineation between the condominiums and the semi-detached houses on opposite sides of Meyer Road.

    But both ends share the purely residential area's relative peace and quiet.

    The area is popular with Indian expatriates, who like it for its proximity to both East Coast Park and the city.

    Lifted by new launches, prices in the area hit about $950 to $1,200 per sq ft (psf) on average in the first quarter of the year, up 35 to 50 per cent from a year earlier, said CB Richard Ellis.

    The newest project launched for sale this year is CapitaLand's The Seafront @ Meyer, following the launch of GuocoLand's The View @ Meyer. Sing Holdings' Meyer Residence was first marketed more than a year ago.

    Some of the older projects - particularly those where owners are keen to attempt collective sales, such as Hawaii Tower - have attracted higher offers.

    Deals done this year have averaged about $957 psf at Hawaii Tower and $1,075 psf at The Sovereign, said Savills Research, citing data from the Urban Redevelopment Authority.

    Asking rents for a two- to three-bedroom unit in the area average $3,500 to $5,000 a month, Savills said.

    But rents can be much higher. At The Sovereign, which has relatively large units, landlords are asking $9,500 to $11,000 a month for the larger 3,300 sq ft units, it said.

  28. #28
    Mistake In Sunday Times Guest

    Default The Belvedere vs The Seafront On Meyer

    Quote Originally Posted by mr funny
    June 10, 2007

    MEYER ROAD

    Cosy community on the urban fringe



    NEW DEVELOPMENTS along Mayor Road include CapitaLand's The Seafront @ Meyer (right), coming up just beside The Belvedere. -- ALPHONSUS CHERN


    THE tranquil Meyer area, tucked away just north of the East Coast Parkway, offers a fairly wide mix of housing .................... At The Sovereign, which has relatively large units, landlords are asking $9,500 to $11,000 a month for the larger 3,300 sq ft units, it said.

    The Sunday Times is wrong lah!
    The Seafront on Meyer is on the left of the photo - not on the right.
    The green building under construction on the right is The Belvedere.
    Wah liao! How can newspaper anyhow report one?

  29. #29
    Unregistered Guest

    Default Re: The Sunday Times Property Buying Guide

    Thanks for pointing that out.

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    Default Hotspot: Newton Circus

    June 17, 2007

    PROPERTY

    Hotspot: Newton Circus

    By Nicholas Fang and Ng Sook Zhen


    A stone's throw away from Orchard Road, but without the sky-high prices of the prime district, Newton Circus has caught the eye of many a buyer and offers an eclectic mix of sparkling new condominiums and quaint black-and-white bungalows. Nicholas Fang and Ng Sook Zhen explore the area.
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