News by Michael Lim

Over the past decade, condominium projects linked to an MRT station have generated strong sales. This is especially so for projects that are not only linked to an MRT station, but also part of an integrated development with a sizeable commercial component such as a shopping mall.

In Singapore, the most coveted homes are those with a seafront view, within walking distance of the beach and the park, and near eateries. The East Coast and Sentosa Cove are two areas in Singapore that offer such luxuries.

THE strong bids for the Toh Tuck Road site on April 11 and high developers’ sales numbers unveiled by URA on April 17 are more signs that the Singapore residential market may be turning the corner, says JLL.

SALES of new private homes surged to a four-year high last month when some property cooling measures were adjusted for the first time since they were rolled out in 2009.

The TEP360 seminar on April 8, entitled “Navigating through turbulent times”, was attended by about 350 participants. Of great interest to homeowners and investors is what opportunities are out there, given the current market uncertainty.

In Singapore, it is unusual to find a private condominium located close to both top ­secondary and tertiary education institutions. A ­rarity is the 505-unit The Clement Canopy at ­Clementi Avenue 1. Since its launch in ­February, about 50% of the units have been sold. “There is healthy interest across all the unit types from both owner-occupiers and investors,” says ­Anthony Wong, general ­manager for marketing at UOL Group.

Singapore-listed GuocoLand Ltd has sold another 42 of its remaining 95 units at Leedon Residence in the first three months of 2017. This brings total sales in the 381-unit, freehold, high-end condominium in prime District 10 to 328 units, which means the project is 86% sold.

Besides urban regeneration of mixed-use integrated developments, Australian property giant Lendlease has also ventured into senior living, or retirement villages. It is now the largest operator of retirement villages in Australia, with 71.

Australian property giant Lendlease’s maiden residential project in Singapore, the 429-unit Park Place Residences at Paya Lebar Quarter (PLQ), saw 215 units (50%) sold on the first day of sales on March 25. Units sold ranged from S$800,000 for a one-bedroom unit to S$2.1 million for a three-bedroom premium unit, or from S$1,600 to more than S$2,000 psf.

In early March, Chinatown Hotel on Teck Lim Road was put up for sale. The 42-room boutique hotel is located off Keong Saik Road in the Chinatown-Bukit Pasoh area. The owners have been operating the hotel for the past 25 years.