News by Feily Sofian

Leasehold properties offer higher rental yields over comparable freehold properties to compensate for their depreciating tenure, higher risks and shorter lifespan to recoup capital outlay.

Rental declines for apartments and condominiums appear to be slowing in several market segments.

Nearly 30 private housing sites were launched for sale in 2011, excluding executive condo sites. In comparison, less than 10 private housing sites were launched for sale in 2016.

The new SSD rates will be 12%, 8% and 4% of the property value for homes sold within the first, second and third year of purchase respectively.

Two sellers made profits of more than S$2 million (RM6.3 million) each in the week of Feb 21 to 28. Both transactions involve aged developments and the sellers had purchased their units at a bargain. Meanwhile, three other sellers netted profits of more than S$1 million that week.

The secret to happiness is to spend ­money on experiences and not things, says Thomas Gilovich, a psychology professor at Cornell University. Experiences are said to linger in our memories, resulting in storytelling and conversation, and enhancing social relations. In fact, the antici­pation of an experience can be gratifying by itself. Experiences also elicit fewer social comparisons than material goods.

The soft opening of Ascott Orchard Singapore on Dec 1, 2016 marked the return of the Ascott The Residence brand to Orchard Road after a decade-long hiatus. The 20-storey serviced residence comprises 220 luxury units ranging from 323 sq ft studios to 861 sq ft two-bedroom units. With a hotel licence, Ascott Orchard offers both short- and long-term stays.

Interest in luxury homes typically picks up once they are completed as well-heeled buyers can personally inspect the design and quality of the project. For Cairnhill Nine, an integrated development by CapitaLand, it also means aspiring buyers can experience for themselves the project’s proximity to Paragon, a luxury shopping mall in the Orchard Road shopping belt.

The market is rife with speculations on whether private residential prices are bottoming out, and there are positive signs that are fanning hopes. Developers sold 7,551 condominiums and apartments in 2016, more than 2015’s figure of 6,895 units, based on caveats lodged up to early December 2016. Including landed homes and executive condominiums (ECs), primary sales were up 15% y-o-y from 9,957 to 11,430.

PRIVATE homes priced between S$1 million and S$1.5 million were the most ­sought-after among the respondents polled in a joint survey by Knight Frank and The Edge Property Singapore. The survey found that 217 of the 500 respondents, or nearly one in two, were on the lookout to purchase a private home in Singapore. Of the 217, 42% were looking to buy a private home in the S$1 million-to-S$1.5 million price range (see Chart 1).