Author: chongkb
The Urban Redevelopment Authority (URA) has today launched a residential site in Dunman Road for sale under the Government Land Sales (GLS) programme Confirmed List for 1H 2022.
The robust private new home sales in 2021 has rapidly depleted the unsold stock in the market – which fell to a record low of 14,154 units (ex. ECs) as at the end of Q4 2021. We expect the Dunman Road site to attract developers who are eager to bolster their land inventory. In addition, future homes on the site should appeal to many home buyers given its proximity to the Dakota MRT station, numerous nearby amenities and schools such as Chung Cheng High School, Tanjong Katong Girls’ School, Tanjong Katong Secondary School, Eton House International School, and Canadian International School (Tanjong Katong Campus).
We expect the Dunman Road site to receive a fair amount of interest from developers, likely drawing 3 to 5 bids – and it could see developers partnering up to form consortiums to bid for the plot, given the size of the project and investment quantum. The Dunman Road site can yield about 1,040 units and we would consider it to be a mega project. We estimate that this site tender could receive a top bid of around $1.235 billion to $1.331 billion, reflecting a land rate of $1,300 to $1,400 psf per plot ratio (psf ppr). A recent GLS tender for a residential site in Jalan Tembusu was awarded in January 2022 for $768 million ($1,302 psf ppr).
While this is a sizable project, we think developers may not be deterred by this and would likely draw confidence from the healthy sales at many mega projects in the last few years which have posted take-up rates of 90% and over (see Table 1). Furthermore, with the dwindling supply of unsold new homes in the market and the relatively limited supply of new private homes in the vicinity, the site should still draw interest from developers.
For media enquiries, please contact:
Carolyn Goh
Director, Corporate Communications and Marketing
PropNex Limited (SGX Mainboard Listed Company)
480 Lorong 6 Toa Payoh #10-01 HDB Hub East Wing Singapore 310480
DID : (65) 6829 6748 / 98287834 | Main : (65) 6820 8000 | Fax : (65) 6829 6600
Email: Carolyn@propnex.com
www.PropNex.com
Wong Siew Ying
Head of Research and Content
PropNex Realty (A subsidiary of PropNex Limited)
480 Lorong 6 Toa Payoh #10-01 HDB Hub East Wing Singapore 310480
DID : (65) 6829 6637 / 97453035 | Main : (65) 6820 8000 | Fax : (65) 6829 6600
Email: siewying.wong@propnex.com
www.PropNex.com
Disclaimer:
PropNex Realty Pte Ltd or its salespersons will not be responsible for any errors or omissions or for the results obtained from the use of this information. All information is provided with no guarantee of accuracy. If in doubt, kindly seek appropriate advice from your financial advisors or bankers before you make any property investment decision.
松林(A地段)住宅用地的政府售地招标正式启动
- Post author By chongkb
- Post date March 9, 2022
- No Comments on 松林(A地段)住宅用地的政府售地招标正式启动
市区重建局(URA)根据 2022 年上半年政府售地(GLS)计划的正选地段(Confirmed List),于今日正式推出松林(Pine Grove)A地段临近班丹谷(Pandan Valley)的一块住宅用地以供招标。
2021 年活跃的新私宅销售活动迅速耗尽了市场上未售出单位的存量。截至 2021 年第四季末,未售房屋数量跌至创纪录的 14,154 套。我们预计,松林(A 地段)将吸引想积极增加土地库存的开发商。此外,未来会在地段上兴建的住宅项目应该会吸引许多购房者,因为它就坐落在一个建设完善的住宅区内,并且靠近许多学校,如培童小学(Pei Tong Primary School)、恒力小学(Henry Park Primary School)和新加坡科技中学(School of Science and Technology)。
市建局已将松林A地段上可建造的住宅单位最多数量限制在 520 个单位,以控制该地区的交通流量。我们认为该项目520个单位的规模相当大,但鉴于附近新私宅的供应有限,松林A地段项目应能引起人们的兴趣。
根据2月24日所检索到的房地产资讯系统买卖禁令,该地区近期推出的新盘翠宁苑(Ki Residences At Brookvale)于 2020 年 12 月投放市场,其660 个单位已售出约 81%,2021 年的平均成交价为S$1,815psf。与此同时,附近的转售住宅雅德林(Astor Green)和松林阁(Pine Grove)去年的平均单位价分别为 S$1,223psf和 S$978psf 。
我们预计,松林(A 地段)土地招标可能会吸引 7 至 8 名投标者,最高标价可能介于S$5.86 亿至 S$6.37 亿之间,地价为S$1,150 至 S$1,250 psf ppr。
媒体询问,请联络:
吴婷婷(Carolyn Goh)
企业通讯与营销总监
博纳产业集团(新交所主板上市公司)
480 Lorong 6 Toa Payoh #10-01 HDB Hub East Wing Singapore 310480
DID: (65) 6829 6748 / 98287834 |主要电话: (65) 6820 8000 |传真: (65) 6829 6600
电邮:
Carolyn@propnex.com
www.PropNex.com
黄秀瑩(Wong Siew Ying)
研究与内容主管
博纳产业公司(博纳产业集团子公司)
480 Lorong 6 Toa Payoh #10-01 HDB Hub East Wing Singapore 310480
DID: (65) 6829 6637 / 97453035 |主要电话:(65) 6820 8000 |传真: (65) 6829 6600
电邮:
siewying.wong@propnex.com
www.PropNex.com
Disclaimer:
PropNex Realty Pte Ltd or its salespersons will not be responsible for any errors or omissions or for the results obtained from the use of this information. All information is provided with no guarantee of accuracy. If in doubt, kindly seek appropriate advice from your financial advisors or bankers before you make any property investment decision.
SINGAPORE, 15 February 2022 – Developers sold 673 new private homes (excluding executive condos) in January 2022, up by 3.5% from 650 units transacted in the previous month – providing some indication that there is still a healthy underlying demand in the market. Last month’s up-tick in sales is encouraging in view of the potential drag from the new cooling measures and limited launches. Only two projects were put on the market in January – 107-unit strata-landed project Belgravia Ace and a 16-unit boutique development, Ikigai.
On a year-on-year basis, new home sales were down sharply by 58.8% from the 1,633 units shifted in January 2021. The sharp year-on-year decline was probably due to more major projects being launched in January 2021 – such as the 1,862-unit Normanton Park and 429-unit The Reef at King’s Dock – which had boosted home sales then.
Source: PropNex Research, URA
The Rest of Central Region led sales in January 2022, transacting 289 new homes - as Normanton Park emerged as the best-selling private residential project last month, with 94 units sold (at a median price of $1,841 psf). Given the lack of RCR new launches, buyers picked up units at previously-launched projects, including The Woodleigh Residences, Amber Park, CanningHill Piers and Verdale which helped to lift RCR sales in January.
This was followed by the Outside Central Region (OCR), the only submarket that posted a month-on-month increase in sales in January 2022. Developers sold 275 new units in the month - new launch Belgravia Ace accounted for more than a quarter of OCR sales with 77 units transacted at a median price of $1,080 psf. Buyers paid between $4.1 million and $4.6 million for homes at Belgravia Ace, according to Realis caveats.
Sales in the Core Central Region (CCR) booked a 18.7% decline from December to January with just 109 units sold – the lowest monthly CCR sales since February 2021, where 58 units were sold. Fourth Avenue Residences was the best-selling CCR project in January 2022, moving 13 units at a median price of $2,481 psf. The sales decline in the CCR in January may be an early indication of the impact of fresh cooling measures – particularly the hike in additional buyer’s stamp duty (ABSD) rates for foreign buyers and investors buying second and subsequent residential properties – possibly crimping foreign buying interest and investment demand. The limited new launches in the CCR may also have contributed to the slower sales.
Over in the EC segment, 52 units were sold in January – down from the 69 ECs sold in the previous month amid the dwindling unsold EC stock. Provence Residence was the top selling EC project for the month, transacting 21 units at a median price of $1,229 psf during the month.
Top 10 Best-Selling Projects (ex. ECs) in January 2022
Source: PropNex Research, URA
In terms of units launched, developers placed 178 new private homes (ex. ECs) on the market, representing a 53.5% decline from 383 units launched in December 2021. This is the lowest number of units launch since February 2021 where only 167 units were launched.
“January’s sales have remained steady and the performance is quite encouraging, considering the limited new projects being launched, the seasonal lull leading up to the Lunar New Year, as well as fresh property curbs having been introduced in December. So, on balance, we think the 673-unit sales figure last month is still pretty respectable. Other positive take-aways include the fairly decent sales in the RCR and OCR, as well as the good take-up at Belgravia Ace during its launch - which reflected strong demand from Singaporeans and ample liquidity in the market, with 77 units sold for more than $4 million each.
Looking at past trend, the performance in January perhaps offers some hope that the demand for new private homes has not been severely hit by the new cooling measures. It is the highest private home sales for the month of January since 2014, with the exception of January 2021 (1,633 units; see table below), where sales were largely boosted by the launch of mega development Normanton Park a year ago.
Looking at the next couple of months, sales should remain relatively stable. We do not expect new home sales to rise dramatically owing to the limited number of new launches and their relatively small project size. The 32-unit Royal Hallmark in Haig Road could hit the market in the end of February, while 105-unit The Arden in Phoenix Road may be launched in March. Meanwhile, North Gaia EC is also expected to be placed for sale in March. These new launches should attract buyers’ interest given the dwindling stock of unsold new private homes in the RCR and OCR.”
Sales volume in January 2012 – 2022
Source: PropNex Research, URA
For media enquiries, please contact:
Carolyn Goh
Director, Corporate Communications and Marketing
PropNex Limited (SGX Mainboard Listed Company)
480 Lorong 6 Toa Payoh #10-01 HDB Hub East Wing Singapore 310480
DID : (65) 6829 6748 / 98287834 | Main : (65) 6820 8000 | Fax : (65) 6829 6600
Email:
carolyn@propnex.com
www.PropNex.com
Wong Siew Ying
Head of Research and Content
PropNex Realty (A subsidiary of PropNex Limited)
480 Lorong 6 Toa Payoh #10-01 HDB Hub East Wing Singapore 310480
DID : (65) 6829 6637 / 97453035 | Main : (65) 6820 8000 | Fax : (65) 6829 6600
Email:
siewying.wong@propnex.com
www.PropNex.com
Disclaimer:
PropNex Realty Pte Ltd or its salespersons will not be responsible for any errors or omissions or for the results obtained from the use of this information. All information is provided with no guarantee of accuracy. If in doubt, kindly seek appropriate advice from your financial advisors or bankers before you make any property investment decision.
Government land sales
- Post author By chongkb
- Post date March 2, 2022
- No Comments on Government land sales
The Urban Redevelopment Authority (URA) has today launched a residential site in Pine Grove (Parcel A), located off Pandan Valley for sale under the Government Land Sales (GLS) programme Confirmed List for 1H 2022.
The robust new home sales in 2021 has rapidly depleted the unsold stock in the market – which fell to a record low of 14,154 units as at the end of Q4 2021. We expect the Pine Grove (Parcel A) site to attract developers who are eager to shore up their land inventory. In addition, future homes on the site should appeal to many home buyers given its location within an established residential enclave and proximity to numerous schools, such as Pei Tong Primary School, Henry Park Primary School and School of Science and Technology, Singapore.
The URA has put a cap on the maximum number of housing units that can be built on Pine Grove Parcel A at 520 units to manage the traffic flow in the area. At 520 units, we would consider this project to be relatively sizable, but it should still draw interest given the fairly limited supply of new private homes in the vicinity.
The most recent new launch in the area, the 660-unit Ki Residences at Brookvale - which was put on the market in December 2020 – is about 81% sold, with an average transacted price of $1,815 psf in 2021, based on Realis caveats retrieved on 24 February. Meanwhile, nearby resale properties Astor Green and Pine Grove were transacted for an average unit price of $1,223 psf and $978 psf respectively last year.
We estimate that the Pine Grove (Parcel A) site tender could attract 7 to 8 bidders, with the top bid potentially coming in at around $586 million to $637 million, reflecting a land rate of $1,150 to $1,250 psf per plot ratio (psf ppr).
For media enquiries, please contact:
Carolyn Goh
Director, Corporate Communications and Marketing
PropNex Limited (SGX Mainboard Listed Company)
480 Lorong 6 Toa Payoh #10-01 HDB Hub East Wing Singapore 310480
DID : (65) 6829 6748 / 98287834 | Main : (65) 6820 8000 | Fax : (65) 6829 6600
Email:
Carolyn@propnex.com
www.PropNex.com
Wong Siew Ying
Head of Research and Content
PropNex Realty (A subsidiary of PropNex Limited)
480 Lorong 6 Toa Payoh #10-01 HDB Hub East Wing Singapore 310480
DID : (65) 6829 6637 / 97453035 | Main : (65) 6820 8000 | Fax : (65) 6829 6600
Email:
siewying.wong@propnex.com
www.PropNex.com
Disclaimer:
PropNex Realty Pte Ltd or its salespersons will not be responsible for any errors or omissions or for the results obtained from the use of this information. All information is provided with no guarantee of accuracy. If in doubt, kindly seek appropriate advice from your financial advisors or bankers before you make any property investment decision.
Upcoming Projects
- Post author By chongkb
- Post date March 2, 2022
- No Comments on Upcoming Projects
