yes agree luxury mkt still soft .. it took me a while to rent out ...
but the next market run will be interesting .. with so much enbloc land sold .. but alot of money on the side line .. how would the market really react?
Mass market will likely also be affected if hdb inventory continue to increase at this rate ..
Its harder than I thought too. Took us 5 weeks to get a tenant.
I take issue with the number of commercial offices in around Bugis. Though GuocoLand Beach road site will add another 10-20K office workers but that will have to wait for another 5 years or so. I am betting they will build residence too and not service apartments/hotels. If its the latter, ho seh liao.
Why spoil market? Sure, to each his/her own skin but no point rent out a CCR luxury development at city fringe price when the market is picking up now.
Right after me, someone did that for low floor, one bedder doing for $1K less unfurnished unit. TMD. That was a close shave.
Timing is as important. The front and last wave get to call out pricing than the middle lull wave now.
May I know the yield for 1 bedder?
Nearer 3% or 4%? (Just simple total annual rent/ purchase price)
I start to see movement in the Beach Road $1.62B site which Guocoland bought. I think its time they prep the land and reveal the design soon.
With the demolition of the few blocks of HDB flats at Rochor Centre, and the return of Bugis Village back to the State within a year, there’s going to be tonnes of land all around Duo being released for tender and rejuvenation.
The whole area has plenty of upside. Won’t be surprised if Guocoland launches the Beach Road site in excess of $3k psf, and Southbeach also launches around that price point.
https://www.straitstimes.com/singapo...illage-tenants
https://www.businesstimes.com.sg/rea...tricts-9-10-11
Always look at where the market is going, not where it is now.
https://www.straitstimes.com/busines...d-sales-scheme
Middle road GLS will be one to look out for. This site is closer to South Beach Residences which is currently gearing up for sale. However, this site is between 2 MRT lines (Bugis and Esplanade). I could not find the plot ratio under URA Masterplan for this site too. Does anyone know?
This site though smaller than the Beach Road site will be easier to build due to its regular shape.
They are keeping the prices very close to heart and only for interested parties who showed up at their showflat according to my agent. I am guessing the same region and close to $4K for the higher level ones? Not that kind of league hence I do not bother to go and see.
Having JW Marriott plastered on their residence building is an excellent move. Much better than their self run hotel which no ones really know. It raises the brand equity of the entire development to a new level where they can command higher premiums today.
I am thinking that will raise the bar further for the Middle Road GLS site. All good news to me.
Wondering if Tan Quee Lan Street GLS (500+ Residential units with 2000 square metre commercial) under reserve list will get triggered before end of 2018. Slated for nov 2018.
GLL is ready to put up their design really soon. Can’t wait to see how it looks like and how much it will $$$$.
Duo coming up soon?
https://www.edgeprop.sg/property-new...box=1536412325
" ...
At the 54-storey V on Shenton — which is part of the mixed-use development that includes the 23-storey Grade-A office tower, UIC Building — a one-bedroom, 506 sq ft unit on the 51st floor was sold for $1.57 million, according to a caveat lodged on Aug 23. The price translates into $3,098 psf, which is the second highest psf price in the project to date. A week before that, on Aug 16, a 452 sq ft studio unit on the same floor set the record psf price, at $1.46 million ($3,225 psf).
..."
My 2 cents is that unless there are more activity in the 500m radius, pricing will remain stagnant for the near term due to CMs. The catalyst will be Beach Road, Middle Road and Tan Quee Lan. Fingers crossed, once Beach Road is launched, there will be more transactions.
https://www.straitstimes.com/asia/se...kes-to-temasek
If 60% sold, it will be chips amounting to RM25 billion to fill in the very large RM 1 trillion hole.
https://www.straitstimes.com/busines...-on-beach-road
Guoco Midtown breaks ground on 25th Nov 2018. Slated to be completed in 2022. ~200 units of residence. How much do you think the psf will be and how will it affect Duo pricing?
https://www.straitstimes.com/busines...ochor-makeover
Rejuvenation continues to pass the baton on to Shaw Tower.
Let's see who bids for Tan Quee Lan to bring up prices one round after Guoco Mid town Suites completion.
https://www.businesstimes.com.sg/rea...ugis-gls-sites
There is no need to flip the coin if your development is in the URA masterplan.
https://www.ura.gov.sg/Corporate/Pla...h-Ophir-Rochor
https://en.wikipedia.org/wiki/Malays...eement_of_1990
I refer to the North.
All in their plan.
On 20 September 2010 during a visit by Najib Razak to Singapore, he and Lee Hsien Loong issued a joint statement which stated that both Leaders have agreed to the following:
- The Singapore Government shall vest four land parcels in Marina South (TS30-361T, TS30-362A, TS30-363K and TS30-364N) and two land parcels in Ophir-Rochor (TS13-1115N and TS13-1116X) in M-S Pte Ltd, in lieu of the three parcels of POA land in Tanjong Pagar, Kranji and Woodlands and the three pieces of land in Bukit Timah. The four Marina South parcels are located at the heart of the financial and business cluster in Singapore's Marina Bay, while the two Ophir-Rochor parcels are located next to the Kampong Glam Historic District, in a new growth corridor that is being developed as an extension of Singapore's Central Business District.
- The Marina South and Ophir-Rochor land parcels shall be vested in M-S Pte Ltd for joint development when Keretapi Tanah Melayu Berhad (KTMB) vacates the Tanjong Pagar Railway Station. The station will be relocated from Tanjong Pagar to the Woodlands Train Checkpoint (WTCP) by 1 July 2011 whereby Malaysia would co-locate its railway Custom, Immigration and Quarantine facilities at WTCP.
- The Joint Implementation Team shall conclude by 31 December 2010 their discussion on the details of the implementation of the POA.[8]
Speaking of North: I do not think Najib who signed the agreement think he will be in this state today. The selling ('portfolio revamp') has in fact already begun.
https://www.straitstimes.com/busines...i-in-portfolio
I really hope the hole is big enough for them to think of selling the remaining or part of their stakes back to Temasek again since their majority stake (60%) would have risen due to land appreciation since the agreement signed back in 2011.
Duo is valued at ~S$4 billion back in 2011....not sure how much it is worth now.
Their new finance minister Lim Guan Eng already mentioned money printing but to what effect....its anyone's guess. The ship is pretty sunk in at the moment or at least for the next 5 years due to large fiscal deficit.
https://www.channelnewsasia.com/news...athir-10467746
I was in Malaysia a few years back looking for investment property, the agent told me that SG to MYR going to 3.5 I was wondering how she knows it. Guess most of them already prepare for the Best time in their Life coming.
LKY went to Taiwan to get two chinese word from the Taiwan President and everything change.
Lim Guan Eng is only one whereas we got a lot of Lim Guan Eng in Singapore, went to one of the MFA talk their scholar after a few years all went over to GIC and Temasek.
https://www.straitstimes.com/busines...o-office-tower
CapitaLand Commercial Trust said to be in talks to acquire $1.5b Duo office tower (Headline)
Source: Straits Times
Technically Temasek has 39.62% stake in CapitaLand, I will even call this indirect shares acquisition of Duo. I am even wondering if SGX:C31 is interested in TQL site opposite too which will be announced really soon. Can the timing be so coincidental?
On the demand side, perhaps Khazanah Nasional is making a move to redeem some chips here to fill up their massive deficit hole. I'm hoping the faster we are off Malaysia books, the better. If this sale goes through, SG will be the majority over MY.
Upside is a refresher of the land/development price.