Peak Residence sales gallery

If the reported deal is approved, the sum would be among the greatest paid for a coffee store in a Housing Board property, together with the last high profile sale being in 2015 if a coffee store at Bukit Batok has been sold for a comparable quantity.

Visit Peak Residence sales gallery for official showflat appointment.

He explained it was too early to start talking about any bargain on Coffee United, since the coffee store at Block 496 Jurong West Street 41 is famous, including that there are additional interested buyers when its owners were prepared to sell.

Mr Chu estimated that at least eight more months were required to finalise a bargain, even if it moved at all.

K2 works 14 coffee stores – some below the Fu Chan manufacturer – and over 40 food stalls islandwide, The Straits Times reported this past year. The company has approximately 400 employees and an yearly revenue of roughly $45 million.

There are approximately 1,200 coffee stores in Singapore.

The Shin Min report stated Coffee United has 13 stalls, also stallholders were quoted as stating that their leasing contracts could finish in July. They stated Coffee United’s owners could normally renew the contracts per week or two prior to their expiry.

The report also stated Coffee United is situated close to a neighborhood center, schools and other stores, which the coffee store has healthful footfall, especially at night.

When asked concerning the attraction of coffee stores as an investment, Associate Professor Lawrence Loh of the National University of Singapore Business School noticed those from the area remained a crucial quality of the food and drink industry here.

Coffee shops capture clients localised in compact housing estates, additional Prof Loh, who’s director of the Centre for Governance, Institutions and Organisations.

“The clientele are normally older people that are regular visitors of those coffee shops,” he explained.

“While there’s not anything particular about Jurong West particularly, there are still routine flows of patrons into the coffee shops due to cost and convenience factors.”

Peak Residence location

The 25-year-old, flat block sits on a 12,328 sq feet, freehold website on Sophia Road in prime District 9. Beneath the URA Master Plan for 2014, the website is zoned’residential’ and contains a plot ratio of 2.1. It has the capacity to be redeveloped to a new 34-unit condo, assuming a mean size of 753 sq feet for the units.

Visit the Peak Residence location for official showflat appointment to be obtained at https://www.PeakResidence.sg.

Casa Sophia was initially put on the marketplace available in July 2018 for $36 million ($1,390 psf per plot ratio), together with ERA Realty Network since the advertising representative. Each of the owners had consented to a collective deal, so it had acquired 100 percent consensus. On the other hand, the tender was started under a week following the announcement of their new property cooling steps on July 5, 2018.

Recognising the shift in programmers’ opinion following the most recent property cooling steps, the owners of Casa Sophia were fast to reduce their asking price to $30 million ($1,158 psf ppr), or 16% less. The job was relaunched available in March 2019, which has been ran by private treaty.

The owners had obtained”a few supplies” throughout the initial collective sale effort, noted ERA’s representative, Tjhai Citanegara, that had been managing the collective sale afterward.

It appears, among these curious parties had returned struck together with all the owners of Casa Sophia in a cost of $29 million, or $1,119 psf ppr.

“If stock of prime, condo units begin to run low again, a few programmers who have been first-movers in the past collective economy cycle, could revisit the en bloc marketplace for prime, freehold plots ,” states Bruce Lye, managing partner of SRI. “The current collective selling of Casa Sophia is a nod to this.”

Lye points into the government property sale of Irwell Bank Road, a large website in prime District 9. The tender for its 99-year leasehold plot was first launching last October and shut a week [Jan 9, 2020]. CDL is the programmer behind a series of luxury and high-end jobs in the prime districts which were launched at the previous two to three decades, specifically, Boulevard 88, Gramercy Park, New Futura, Haus on Handy and Nouvel 18.

The 2nd Greatest bid came in the consortium behind One Holland Village mixed-use growth, namely Far East Organisation, Sino Group and Sekisui House.

Bids were below analysts’ expectation as”developers provisioned a greater margin for the 25 percent remittable ABSD [added Purchaser’s stamp duty] if they Be Unable to build and market the job within the specified period of five Decades,” said Tricia Song, Colliers International mind of

Peak Residence developer

Landlords in Hong Kong, a city with some of the greatest commercial rents on earth, are staring down the barrel of a challenging year.

Anti-government protests that started in mid-2019 have taken their toll on both store and workplace owners. Large-scale protests in popular shopping districts and a slump in vacationers have made it increasingly hard for retailers.

Peak Residence (Former Peak Court), new condo developed by Tuan Sing & Rich Capital, a reputable Peak Residence developer.

According to the Hong Kong Retail Management Association, more than 5,600 jobs may be lost and thousands of shops may shut over the forthcoming six months.

“Retailers have come to be quite cautious,” said Marcos Chan, head of research to Hong Kong at CBRE Group. “There will not be many expansions in the upcoming year.”

The landlord later slashed the lease by 44 percent to lure tenants.

Folli Follie, a brand of Greek company FF Group, closed one of its stores in Central at December ahead of the lease’s expiration and the asking price has been sliced by 40 percent. LVMH, the world’s largest luxury conglomerate, plans to shut a Times Square mall shop in Causeway Bay after its petition for reduced rent was denied.

A slump in store rents can threaten the town’s status as the world’s tiniest retail-rental market. Causeway Bay had the greatest rents in the entire world in the next quarter, at US$2,544 per square foot a year, figures from Cushman & Wakefield Plc show.

OFFICE DOWNCYCLE
Knight Frank estimates rental prices for road stores in prime shopping areas can decrease by 15 percent or more in 2020 as a result of continuing social unrest.

Some view the nadir as an opportunity. Citigroup said in a Jan 2 note that it is now bullish on Hong Kong retail landlords.

“Hong Kong retail sales have already seen the worst year-on-year performance in August to November, driven by escalating social unrest together using a weakening yuan during the period of time,” analysts directed by Ken Yeung wrote. “With the situation now stabilizing, we anticipate sequential developments on retail sales in January onwards”

The investment bank is not so bullish on Hong Kong’s office industry, saying that section of this market is”only at the early stage of what appears like a two-year downcycle.”

Rents at Central, an area of Hong Kong that’s home to many international companies, are vulnerable because of a slide in demand from Chinese companies and competition from additional division hubs such as Singapore, Tokyo and Shanghai.

“We anticipate Central office rentals will probably be down by 10 percent per annum during the next two years,” Yeung said.

Colliers anticipates grade A office rents in Central, the world’s priciest prime office market, to fall by 13 percent in 2020.

“Companies are hesitant to commit,” said Currie, adding that when the protests continue, the initial six months of 2020 will probably be even harder.

Read more HDB turns out 8,170 flats available to be purchased

HDB turns out 8,170 flats available to be purchased

“Based on the flash estimate, there was no change in the resale flat prices for the whole year of 2019,” said HDB.

Providing information on the general price movement within the resale public housing market, the RPI for the full quarter, along with more public housing data, will be rolled out on 23 January.

According to data from Data.gov.sg and OrangeTee, the number of resale transactions in the first 11 months of 2019 is higher when compared to the same period in 2018 and 2017:

Months Number of resale transactions
Jan-Nov 2017: 18,776
Jan-Nov 2018: 20,139
Jan-Nov 2019: 20,353

“The various policies seemed to have achieved their goals in improving the demand of different flat types and mitigating further price falls that were mainly caused by the lease depreciation of older flats and an increasing supply of HDB flats,” says Christine Sun, Head of Reseach and Consultancy from OrangeTee & Tie.

“For instance, the policy change that allows buyers to use more Central Provident Fund monies to buy HDB flats and the ongoing HIP (Home Improvement Programme) seemed to have improved the attractiveness and demand for older flats. In the second and third quarters of last year, the sales volume of older flats increased islandwide while the prices of older flats rose in certain towns.

“Enhancing the housing grants for first-time buyers and raising the income ceiling for eligible buyers seemed to have expanded the pool of potential buyers in the market,” she added.

Meanwhile, HDB announced that it will offer around 16,000 to 17,000 Build-To-Order (BTO) flats this year.

For the first BTO sales exercise, it will launch around 3,000 BTO flats in Toa Payoh and Sembawang in February.

Local developer heads for global ranks, greater offers in store for sector

The local property market — that was exposed to heating measures and seasoned oversupply from the past decade — may be small, however at the 2020s, a home-grown programmer will rank among global real estate companies such as Brookfield Asset Management, Unibail-Rodamco-Westfield (a merger made together with the prior Westfield Corp) and Lendlease Group.

For official details project details, floor plans, showflat appointment to be obtained at Peak Residence condominium.

Lee Chee Koon, CEO of CapitaLand, informed investors and analysts throughout the team’s Investor Day Nov 29:”Our ambition is to be a global company. In five to eight years’ timewe expect CapitaLand is one of the best three to five names that come to mind when investors talk about a global company.” In the event the developer realises this ambition, it’ll be the first Asian company to break into global ranks.

The path to globalisation to get CapitaLand took a severe turn on Jan 14 when CapitaLand announced a merger with Ascendas- Singbridge (ASB).

Read more Sales Preview For The Iveria This Weekend

Sales Preview For The Iveria This Weekend

The Johor Baru property marketplace remained soft in 3Q2019. Developers continued to focus on clearing present inventory, especially high-rises. “We know that a few programmers have converted or are considering converting the acceptance for high-rise improvements to landed homes.

The complete unsold high-rise residential properties afterward stood 34,000 units

“newest launches have been landed properties with smaller land areas because of high land and building prices. Two-storey terraced homes targeted in the mid-end marketplace will stay hot and sellable,” he notes.

“In light of the stagnant marketplace with higher overhang and oversupply of high-rises, many parties are lobbying for the relaxing or tweaking of present policies.

“Some cases include the threshold for overseas buyers in RM1 million, the imposition of 5 percent Real Property Gains Tax (RPGT) even for Malaysians following five decades and better recommendations on the bumiputera unit launch mechanics,” says Tan.

“Budget 2020 made just two small alterations — the shift from the foundation year to get RPGT from year 2000 to year 2013 and the minimal cost for overseas purchases [that was reduced from RM1 million to RM600,000] of finished, high-rise residential properties. For the latter, the step is just for a single year.

“We assert the rationale behind imposing RPGT on longterm property buyers is basically erroneous. Additionally, the tax revenue collected as a consequence of land earnings is insignificant at roughly RM90 million [$29.4 million] from the last year.

Nonetheless, the shift from the foundation year 2013 efficiently makes RPGT redundant today as there’s barely been some price appreciation from year 2013 until today,” Tan claims.

“Lowering the cost threshold for overseas buyers will help clear the unsold stock, particularly high-rises. But, we don’t anticipate a considerable gain in the take-up speed as the market sentiment is feeble. Yet this is a little, calibrated step to help reduce the unsold high level components.

Price and leasing trends in 3Q 2019

According to the track, the majority of the chosen schemes maintained exactly the very same costs throughout the quarter under review. There was a small cost reduction in East Ledang, together with two-storey terraced homes trapping from RM920 into RM900 psf while two-storey semi-detached homes dropped from RM1,700 into RM1,600 psf.

“One of the semidees, just those in East Ledang watched a marginal drop of 5 percent while the rest stayed unchanged,” notes Tan.

Concerning rental motions, two-storey terraced homes in chosen schemes saw a reduction of 10% to 20% throughout the quarter. “This might be attributed to the growing supply of high tech apartments for lease. Some tenants may opt to relocate to such improvements on account of the facilities supplied,” he describes.

“One of the high-rises, just Ujana’s rental rate dropped — roughly 10 percent [from RM2,000 to RM1,800 a month]. This might result from the large number of finished high-rises at the neighborhood of Iskandar Puteri,” says Tan.

New starts in 3Q 2019

You will find four new launches throughout the quarter — two landed and two high-tech projects. “Both landed home jobs are of twostorey terraced homes.

“We’re given to understand that the non-bumi a lot for both schemes are completely booked or marketed.”

The Sky Trees (Duta Hijauan) serviced flat in Taman Bukit Indah premiered in September. “The built-up field of these components ranges from 581 into 1,001 sq ft. The project was started with a beginning cost of RM546 psf and also the programmer claims to have achieved a sales rate of 50 percent from their 484 units ” Another serviced apartment job, situated above Paradigm Theater and called Paradigm Residences, was also established in September. The components have a cost of RM600 psf with built-up regions of 530 into 1,123 sq ft. The programmer claims to have achieved a sales rate of 60% from the 263 units established, says Tan.

Read more Workplace prices fall, retail rent up in central area

Workplace prices fall, retail rent up in central area

Rents for non-landed private houses climbed a month at its strongest rate since January, even though four consecutive months of reduced leasings, whilst HDB rents inched down, based on flash statistics from property portal site SRX Property on Wednesday (Dec 11).

In general condo rents rose 1.2 percent in November from the previous month, and now therefore are up 4.6 percent year on year.

The SRX flash statistics also revealed that 3,980 personal non-landed units were rented in November, down 7.6 percent from October, and 3.1 percent lower than one year ago. But, volumes are 7.5 percent greater compared to average quantity for the month of November.

The Monetary Authority of Singapore (MAS) noted in its yearly Financial Stability Review published last month per”equilibrium in lease prices” that indicates that occupancy requirement is sufficient at this juncture to consume recently completed components. However, MAS cautioned the heated financial outlook coupled with the expected gain in the supply of finished units in the medium term, could cause new downward pressure on rentals.

Therefore, the MAS cautioned against overleveraging, stating that investors who borrowed higher mortgage payments relative to volatility could face problems meeting the payments on their investment properties.

Within the public housing marketplace, HDB rents dipped 0.1 percent a month from October, even though they are up by 1.6 percent from November 2018. In comparison to their summit in August 2013, HDB rents continue to be off by 14.5 percent.

Read more Private Home and HDB Prices Went Up for Q3 2019 Resale

Private Home and HDB Prices Went Up for Q3 2019 Resale

The 460-unit Dairy Farm Residences, that held its official launch on the weekend of Nov 23 and 24, sold 35 from 80 units, according to programmer United Engineers Ltd (UEL).

The components sold include a mixture of 2 -, three- and four-bedders, at a range of 1,550 psf to $1,650 psf.

The profile of buyers were largely those living in the western part of Singapore, says UEL.

Dairy Farm Residences marks the first new condominium offering in the Dairy Farm area as The Skywoods was launched in 2013. Developed by a consortium of three recorded real estate players — Hock Lian Seng Holdings, King Wan Corp and TA Corp — it was finished in 2016 and is totally marketed to date.

Apartment layouts offered comprise pre-assembled units from 624 to 775 sq feet, three-bedroom units from 915 into 1,313 sq feet, and four-bedroom apartments from 1,324 into 1,475 sq ft.

Read more Property Investors Not Answering The Needs of Their Renters

Property Investors Not Answering The Needs of Their Renters

A strategic location combined with excellent amenities and seamless connectivity makes this integrated hub ideal for both global and local companies alike.

Mention Changi, and the majority of people would immediately consider Changi Airport and Jewel Changi Airport, the latest landmark in eastern Singapore and arguably the most impressive of its kind on the planet. But apart from those world-class attractions, Changi is also the most developed hub at the east for aviation, engineering, logistics and company.

The Changi area masterplan capitalises on its strategic location near Changi Airport, and contains key districts such as Changi Aviation Park and the Changi East Urban District.

Having a direct connection to the airport, Changi Aviation Park has been designed as a booming aviation center and is well positioned to cater to the lucrative aircraft servicing and aviation financing industry.

The up-and-coming Changi East Urban District, attached into the near future Terminal 5, will feature smart work centers, conference halls, resorts and serviced apartments. The Urban Redevelopment Authority (URA) has plans for its Changi area to develop into an integrated work-live-play surroundings in the next several years.

And at the heart of Changi’s vibrant ecosystem would be your 71-hectare Changi Business Park (CBP), in which CapitaLand has a community of eight possessions. CBP is a leading company and research node having an emphasis on cargo, aviation technologies, as well as machine learning and automation. We explore a number of the key factors .

1. A Company Nexus that Encourages Synergy and Win-win Partnerships
As a company enclave, CBP sets companies, research companies and academia in near proximity.

International companies operating in CBP comprise DBS, Honeywell, Schneider Electric, Xilinx and FedEx World Service Center. This makes the area a nexus where large multinational companies can interact with dynamic start-ups and SMEs, fuelling collaborations and allowing both sides to gain.

At exactly the same period, the Singapore University of Technology and Design campus is located inside the company hub. This gives greater opportunities for collaboration and knowledge exchange between academia and the private industry.

Together with executives, students and researchers working, dining and playing at precisely the same area, there are abundant chances for different classes to interact and community. Imagine being able to exchange ideas with like-minded company partners at a nearby café or appreciate the ease of being co-located at precisely the same small business hub as the specialists that you want to consult with.

2. Located opposite the Expo MRT Station, the CBP supplies operators with easy access to both the East-West and Downtown Lines. The Central Business District (CBD) at Raffles Place is a fast 30-minute train trip away. At the upcoming decade, CBP will also boast greater connectivity into more business landmarks together with the projected Cross Island Line.

By car, CBP has ready access to this East Coast Parkway (ECP), which links commuters into the business and financial district at less than 20 minutes.

For people who travel overseas often, CBP is a mere five-minute drive from Changi Airport.

3. Apart from a seamless transport community, CBP provides a huge variety of attractive recreational and lifestyle amenities. These include supermarkets, practices, gymnasiums, childcare centers, as well as serviced apartments and hotels for business travellers.

For its active professionals, game pitches are available at Plaza 8, 1 Changi Business Park Crescent. Companies can make use of these facilities for team bonding exercises or to encourage active living among workers.

This dynamic lifestyle hub in CBP is operated by The Ark.. It concluded its futsal and cricket tournaments, with a few 12 teams competing in each game after work. Catering to bikers, CapitaLand has also constructed end-of-trip facilities such as showering facilities, lockers and bike racks at Plaza 8.

Regular work-out sessions encouraged by the Health Promotion Board are held inside CBP, giving a handy way for tenants to stay fit at work.

4. For the environmentally friendly, CBP houses several properties that have been awarded the BCA Green Mark accolade through recent years.

Back in July, CapitaLand announced that by finish 2019, more than 21,000 solar panels will be installed in six houses beneath CapitaLand’s company space and industrial real estate investment trust, such as 1 Changi Business Park Avenue 1 at CBP.

Ultimately, the vibrant ecosystem located within and at the neighborhood of CBP has earned the heart its reputation as the CBD of the East.

Learn more about Plaza 8, one of the latest possessions at Changi Business Park, to expand your small business space alternatives and community outreach today.

Read more Little And Expensive Local Property for Singaporeans

Little And Expensive Local Property for Singaporeans

A freehold two-storey semi-detached home in the conclusion of a cul-de-sac in Clementi Crescent was placed on the block from its proprietor.

This contrasts between $1,465 psf and $1,570 psf around the property area.

The home sits on a 4,778 sq feet land plot and contains a built-up region of 3,831 sq ft. According to URA Realis, the land was bought for $2.55 million ($534 psf) back in 1999 and hasn’t changed hands since.

The property has just been available on the market for three weeks and the owner is ready to listen to all reasonable offers, says Tricia Tan, associate director with the Auction Team in Knight Frank.

The expression of interest exercise will close on Dec 4 while the voucher is going to be run individually on Dec 9.

Situated off Clementi Road in District 21, the home sits at a three-storey mixed landed estate. The land is also near the bungalow property and blended landed property on Sunset Way.

Having been renovated back in 2000, the proprietor recently completed fresh addition and alteration works. The home comprises five bedrooms which can each match a king-sized mattress and contains a en-suite bath. Since the land sits on land that is elevated, the view from the roof terrace overlooks many of neighbouring homes in addition to the surrounding greenery.

Tan says households with school-going kids should come across the home attractive as there are lots of tertiary educational institutes at the Clementi region.

“Parents residing in Clementi don’t have to be worried about fulfilling their children’s educational demands from main all the way into the tertiary level,” adds Tan.

Using a central place also means it is convenient to go to the city center and other areas of the island from the Pan-Island Expressway and the Ayer Rajah Expressway.

“Recently, many landed house buyers have begun house hunting in Districts 9 and 10, but they’re gradually finding District 21 along with the numerous merits of living there. Additionally, there’s a small supply of accessible acquired homes in the area, making this a valuable purchasing opportunity,” says Tan.