Will it happen?
Additional Buyer Stamp Duty, in short we call it ABSD, the aim is to cool down the property market. It was first introduced back in 2011 and thereafter there are few adjustments. However, all are not effective enough in bringing down the property prices to the expected level. It is only after the introduction of Total Debt Servicing Ratio (TDSR), the property market start to look gloomy.
Since ABSD is not as effective as TDSR, why are there still voices to remove or reduce the percentage?
Mr Khaw Boon Wan said the TDSR is a measure that encourage financial prudence and is here to stay. There is also a survey saying 2/3 wants property curb but seek relaxation of rules. Therefore, ABSD becomes the target for it to be removed.
Sellers now needs to reduce prices to attract buyers, any relaxation on existing regulation that can further protect their selling price is always welcome.
Buyer on the other hand is also hoping for the removal of additional buyer stamp duty. They realise now is the entry point for property yet they are holding back purchase as most do not want to pay extra tax.
Buyer and seller now sings the same tune. Rumours, speculation on when the relaxation of cooling measure will happen is a hot topic, some even suggest the dates around general election or as early as 2015. Others suggest ABSD to be reduce for citizen buying 2nd home, so we can have a comfortable life enters our twilight years. Well, our MP Ms Lee Beng Hua said we should not to be fixated on property, there is also stock and bonds to consider as part of a balance portfolio. One thing for sure, it will not happen now nor the very near future, our government want a soft landing but yet to find a suitable runway to do so.
Left pocket, right pocket
Should we wait for removal of ABSD before making any move? For 1st timer, don’t wait for that to happen. For the rest, decide for yourself.
As a buyer, you thought you can keep all the saving from the removal of ABSD? No, Is either to the sellers’ pocket or contribute to the building of nation.
Is a simply maths, seller or developer reduce prices because of todays market situation and many buyer are waiting for changes, if the selling price is too high, it will only compromise the deal. Now see it in another angle, any slight changes to the regulation, more buyer will rush into the market. With higher demand, how do you think the seller will priced their property?
Bare in mind, there are plentiful of buyer on standby for very ‘that moment’.
- Those who are cash rich, they want to add more property into their existing portfolio.
- Young professional who believe having brick and wall as their investment rather than paper.
- Those middle age who need to buy before their monthly mortgages increases due to shorter loan tenure.
Most of them share the same hope, removal of ABSD.
Analysed by Desmond Wong
Edited by Isis Neo
The above article are personal opinions of the author and reader discretion is advised.
Jurong East will becomes the 2nd CDB in Singapore, together with the transformation of Jurong Lake District, there is not other better place to welcome guest from overseas. It was announced by Singapore Prime Minister Lee Hsien Loong and Malaysia Prime Minister Najib Razak on 5th May 2015 that High Speed Rail (HSR) will be located in Jurong East. More report from Channel News Asia.
Which part of Jurong East?
Let’s do an analysis on where could the possible HSR station be.
To build infrastructure for the railway track, we have to avoid as many building as possible, no point cutting through building especially in such high density area like Singapore. The best is to ride on the available infrastructure, from Tuas checkpoint to Jurong East can be simply follow the AYE (Ayer Rajah Expressway) without meeting any building along the way, this route can bring us to Jurong Country Club (JCC).
Comparing 2008 and 2014 Singapore Master Plan, you will be able to see changes to Jurong Country Club. In The Straits Time article on Feb 2014, it mentioned; JCC with many other golf clubs was told of uncertainty on their lease extension as government plans to redevelop some golf courses to better optimise land usage.
Nearby is also hotel cluster, which Genting hotel group had already had their hotel almost up and ready.
In my opinion, JCC location will be the best bet for HSR Terminal.
Effect on property
Some may says HSR does not benefit them as they don’t go KL that often. Ever since Singapore have MRT station, property around every station benefits, some people may be taking public buses as it be more convenient, there are also people who do not take public transport at all. Yet, these people just want their property to be as near to MRT Station as possible.
Its all about possibilities, there can be more opportunity as foreigner wanting to get a home in Singapore yet not too far away to their hometown. With more job opportunity in this area equals to more demand. Mind you, HSR station is not only a terminal for travelling, it will have shopping, dining and much more. To be near shopping mall is again another plus point for investor to consider.
Jurong had long being ignore by many, many deem it far. Actually Jurong is not as bad before and will get better in future. Our top university is in Jurong, top primary school is in Jurong, 2nd CBD will also be in Jurong, our PSA will move to Tuas. With the inclusion of HSR, prices will surely soar, foreign investor and local investor will start to take note of this area. The smarter one will comes into the market before it is fully materialised.
For now, property price in Jurong can only goes up.
Latest: Current Jurong country club had confirmed to be the terminus for High speed rail.
Contributed by Desmond Wong for www.singaporepropertydistrict.com
New launch in the west.
New campus for German European School Singapore ?
According to 25th September 2014 letter to parents, student and member of their school community from German European School Singapore, they are waiting for final approval by our President, Dr Tony Tan on settling their new campus along Dairy Farm Road in Upper Bukit Timah.
How will it affect property pricing
This 3.07 hectare campus is expected to further enhance the property price around it. Statistic had shown, Whenever an International School with within reach, property around it will benefit. There will be parents wanting to rent or buy near to their children school.
In Oct 2011, Canadian International School (CIS) move into their new campus in Jurong West. As news of CIS having a new campus is 2 to 3 years before they move in, around late 2007. Let’s look at the volume and prices for Lakeshore from 2005, the volume spike up around the period where news of Canadian International School will have a new campus in Jurong.
With International school along Dairy Farm Road, the biggest beneficial will be Dairy Farm Estate and The Skywoods.
These group of people look out for a smile in the chart, so is their life, full of smile.
They observed, they take action, they have the holding power. They will definitely see their flower blossom.
Since buying property in Singapore needs to hold, not because we want to but because the regulation restricting our decision.
These are the people who understand talk without action leads to nothing, they listen to themselves, trust their own decision. Listening to too many advises can lead to opportunity miss or lost.
Also can be term as market “Watcher”.
These group tends to do a lot of research, attend talks, listen to expert advise whom these expert is often their friends or relatives. These group of people usually will “watch” the market for a long time, most of the time without action.
They believe they should buy the best for less, fear is another factor for these group as they also cannot afford to make a wrong move as they have only one shot at it. If they do buy something, they whom usually are follower, usually end up buying due to the product pricing rather than looking at the potential value.
What kind of investor are you?
There is no right or wrong type of investor, depending on your risk appetite, holding power, preference. Always listen to yourself, advisor don’t pay you back for opportunity lost but will they take credit for quoting it right.
If you are looking for something to cash out when retire with the same value as of today, if not more. Invest in brick and wall is the best hedge against inflation and the safest bet for retirement. Be it public housing or private property, as long as a cup of coffee don’t falls below a dollar a cup like a decade ago, don’t expect property prices rewind 10 years back.
There is a saying. A person who invest live a wealthy life, a person who don’t invest lead a normal peasant life, a person invest in gambling ruin their life.
Contributed by Desmond Wong for www.singaporepropertydistrict.com
Government Land Sale 2014/2015
Out of the 19 government land sales, 2 plots are executive condo (EC).
The most interesting plot of GLS land is at Toa Payoh, located at Toa Payoh Lorong 4 (previous Mobil petrol kiosk) is considered geographically centre of Singapore. Since the completion of Trevista in 2011, there is no new private development and none expected in the near future as Toa Payoh is just a small town with not much land to spare.
The existing development, Trevista has an average price is $1,320.00 psf while the Trellis Tower, a freehold property completed in 2000, has an average price of $1,438.00 psf. This plot of GLS land is estimated to yield 535 units, if priced correctly with the right conditions, will see its demand surpassing supply.
Looking towards the South
From Holland Road to Beach Road, there are 7 GLS land for sale. Those current development on sale are already having a tough time competing for buyers, with this additional 7 GLS plots, situation can only get more challenging.
Those hoping that price will drop in this area might need to watch closely for the bidding price. If developers are willing to spend millions if not billions now and hire the best people to do their research, they cannot be making too big a mistake. If you believe buying properties in Singapore is a mid to long term investment, just trust them.
Let’s stroll to the East
Out of the 6 GLS land, the one at Siglap Road might generate the highest interest amongst developers. Currently a peaceful estate full of heritage, things are about to get livelier and more convenient with the new MRT line plying through this part of Singapore.
For the GLS land at Tampines, other than pricing correctly, developer must be very creative in coming up with very unique themes and facilities for those buyers scouting Tampines area. Otherwise, they must have a very strong financial balance sheet.
The plot at Bartley Road also seems interesting as it is just in between Paya Lebar and Bidadari, both key growth areas that will bring plenty of job opportunities.
Let’s cross over to North East
Decades ago, there are already plans to develop Punggol and its Waterway. Now, things are slowly coming up with Government’s intent to spend millions of dollars to develop this region. Although the GLS land at Lorong Lew Lian is not beside Punggol, somehow or rather, it can be considered to be part of it because travelling from Hougang to Punggol’s facilities is not that far after all.
Currently bargain hunters’ favourite hunting spots for cheap suburban properties, the situation is expected to change in the near future especially for this GLS land in Woodlands Square. Just Woodlands itself (not including Sembawang) will have 5 MRT stations and it is also the closest to Malaysia once linked up by MRT, this area will be like the flourishing and prosperous old woodlands central in the 80s. The future GLS Mixed Development site at Woodlands Square will be in the centre-stage of hypes and activities with shopping malls, Cinema, Library and entertainment just at your doorsteps.
There will be a new EC coming up in Yio Chu Kang and being the closest EC to Core Central Region, it will generate strong interest among developers and buyers alike. Furthermore, there has been no EC development after Nouvo and this has pend up strong demand for EC in this region. The Government understands that EC plot in the North East part of Singapore might not attract too many bidders thus affecting the final bid price. In order to fetch good bidding price, GLS location becomes very crucial in this current market situation.Of course, I believe bringing affordable private housing closer to CCR will benefit citizens, who are now Government’s top priority in winning the hearts of its people.
Choa Chu Kang will also have a plot of land allocated for EC development. With all the hypes going on in the west and so much talk about possible High Speed Rail coming to Jurong East, transforming Jurong Lake District into our 2nd CBD and the PSA shifting to Tuas Mega Port by 2030, this Choa Chu Kang EC will most likely sell as well as Lakelife.
Analysed by Desmond Wong
Edited by Ryan Lee
The GLS diagram is accurate at the time of post, the author will not be liable should there be any inaccuracy or discrepancies arising due to the diagram. The above article are personal opinions of the author and reader discretion is advised.
Sims is Transforming
From a sequestered street off Aljunied Road, to the next iconic lifestyle enclave. Sims Urban Oasis, situated at Sims Drive, transforms the ease and is set to be the future of residential districts. With it excellent connectivity, you’re never more chan minutes from everything popular. From the trendiest cafes to the hippest bars and more. This is the place to be.
The idillic residential area of Sims Drive is a hidden gem conveniently situated at the fringe of the city.
A New Urban Oasis Emerges
Transforming the face of the ease with its upscale design and dazzling architecture, Sims Urban Oasis sets the standard of future properties. This 99-year leasehold condominium, provides large open spaces with lush greenery, vertical greens and pavilions aims at giving occupants a wider range of outdoor activity. Residents will also enjoy a sky park on the 19th storey that offers a panoramic view of Singapore’s skyline. Best of all, this jewel is nestled within a great location that’s really kicking off with a slew of exciting developments.
Old School Charm
Sim Drive its on the use of several neighbourhoods, including Aljunied, Paya Lebar and Kallang. These are all area with a distinctive old school charm, with clusters of traditional shop houses lining the street of Geylang and the distinctive Geylang Serai Marker in Paya Lebar. The area has built a reputation among local foodies for serving some of the nation’s best food, from countless local stalls serving authentic local fare to restaurants famous for their delicacies.
More and more new eateries are seeing up shop around these historical neighbourhoods, resulting in a rich juxtaposition of old and new. “The rapidly transforming landscape around SlMS also adds an air of sophistication to the area and provides resident respite from the bright lights and bustle of the city.
Witness the Transformation
We’re seeing the emergence of a new lifestyle within an old neighbourhood, where modern establishments reside side-by-side traditional shophouses, the perfect environment to live and play. Over I 0 new businesses have popped up in the neighbourhood in the last year. From cafes to design firms and a-working spaces, the area has proved to be a magnet for young entrepreneurs in their 20s and 30s especially those who have just returned from overseas. They also bring with them fresh food concepts to the area. With the rise of these middle to high-end F&B outlets, the area is seeing a renewed vibe as the newest hangout and ha been attracting foodies from across the island.
Future Perfect in Sims, 2019: The future unfolds here.
Earmarked by the government to develop the surrounding district to be highly accessible residential areas with a rich heritage, Urban Oasis is set to be the centre of all that’s new. Come 2019, you can look forward to new and enhanced facilities, better transport connectivity and more opportunities to work near home.
A Brand new Commercial Hub
According to the Urban Redevelopment Authority (URA), Paya Lebar is slated to be transformed into a fully-integrated commercial centre in five years rime. The new Paya Lebar Central will comprise 12-hectare cluster of commuters, the plaza will be connected to places of interest via covered walkways and overhead bridges, so everything i just a pleasant stroll away.
Geylang Serai’s New Look
Located near Paya Lebar MRT, Geylang Serai is a traditional neighbourhood popular among the local Malay-Muslim community-it’s especially vibrant during Hari Raya thanks to the lively bazaar lining the streets. The evergreen enclave will get a fresh new look come 2019 with the unveiling of a new civic centre, Wisma Geylang Serai, which will include community facilities , art spaces and a plaza for festive activities and events. In addition, a new pedestrian mall along Geylang Road will add to the local colour of the area as well as allow residents to explore new shops, kiosks, cafe and even temporary bazaars. Getting from Paya Lebar MRT to Geylang Serai will be even easier then, as pedestrians can walk comfortably from the station through the shopping galleria to Geylang Serai Market.
Shopping Mall Galore
Joining classic mall like City Plaza and Kallang Leisure Park are newer shopping centres like One KM and Kallang Wave, helping to rejuvenate the retail scene with newer, more competitive offerings. From fashion labels like H&M and Uniqlo to supermarket and gourmet grocer , residents will be spoilt for choice when it comes to their daily life style needs. In the next few years, we can expect the scene to grow significantly, especially with the opening of the Geylang Serai pedestrian mall, new Lavender hopping mall, Aperia and new developments at the old Kallang Airport and along Tanjong Katong Road.
Thanks to running new developments along the Geylang River, residents can enjoy a plethora of new dining, drinking and recreation options right by the river. URA’s plans to reconstruct a stretch of the river and update ir with a mix of new office , hop and F&B outlet will transform this parr of Geylang into the next hot neighbourhood. Come 2019, the riverfront will become a charming pot for after-work drinks, romantic dares and lazy weekend brunches.
The Education Hub of Tomorrow
While there’ no lack of good schools nearby, the arrival of James Cook University in Sim Drive will certainly be a game-changer. The institution had proved so popular that it’ expanding enrolment from 3.400 students in 2014 to 7,500 by 2019, aided by a larger (24,000 square metres) campus . Also set to welcome its first intake is the upcoming National Continuing Education Training campus at Paya Lebar central. set up by the Workforce Development Authority, the centre will be a one-stop destination for skills training, upgrading programmes and career opportunities for working adults.
To the north on Upper Aljunied Road, the Bidadari site will also undergo exciting change to modernise the area in the following years. Together with new public housing projects, the area will also see a new 10-hectare park surrounding the beautiful Alkaff Lake and a heritage walk where resident can stroll through the rich history of the area. Adding to the lush outdoor ambient of the district are roof garden , courtyard and park connector for easy access, making Bidadari an upcoming place of interest for nature lover.
Hip Hop Hot Food at Sims
SIMS is set to be the hottest hangout in the neighbourhood, thanks w a myriad of restaurants, cafes and bars along Geylang’s fringe areas. Here are eight hip hot spot that are all hit and no misses with foodies.
This might look like a regular hip cafe, but it’s really a beer bar at heart, serving five varieties of craft beers by local brewery Archipelago and modern takes on lo al delights. Vintage wooden and rattan furniture create a laid back atmosphere, perfect for alfresco late night drinks.
A few doors down is Char, a restaurant famed for its variety of roast meat and UK craft ales. Don’t miss our on crowd favourites like the European herb-infused crispy roast pork belly; and the unique Char Siew, which the owner pent a year perfecting.
Spicy Thai Thai Cafe
As authentic as chai food can get this no-frills joint hits all the right pots both savoury and sweet. From using charcoal for soup and steamed dishes with importing tea leaves from Thailand for its signature drink. Even its desserts are handmade. Your palate is sure will be pleased.
Kin Kin Ban Mee
Another big hit that opened in Singapore earlier this year is the local offshoot of the famous KL stall that’s best known for its dry ban mian. What separates this from the usual ban mian is its pan-roasted chilli and runny soft boiled egg, adding depth to the humble dish. Yum!
La Barca Ristorante & Wine Bar
One of Singapore’s little hidden gems, La Barca Italian Ristorante & Wine Bar is housed in Goodman Arts centre and serves Tuscan-styled cold plates, pastas and pizzas with a contemporary touch. House specialties include Fiorentina steak and homemade Pici Pasta served with Pork Ragu. Far from being stuffy, the interiors are minimal and elegant. Date night, anyone?
Brawn and Brain
This tiny coffee joint serves seriously good artisanal coffee by devoted baristas at an affordable prices. Think $3.50 for a latte and it’s a double shot, too.
#01-07, 100 Guillemard Road
Maple and Market
Located in Cassia Crescent, a residential neighbourhood, this cute bakery and cafe serves oven fresh cakes and pastries to locals.
#01-82, 34 Cassia Crescent
Another hideout is Le Cafe. This chery, colourful hidden gem serves up excellent coffee, causal bistro fare and yummy brunches.
#01-02, 66 Kallang Pudding Road
Food Haven, Old Charm
For many Singaporeans, Geylang is link with great food. Night after night, the area comes to life with locals who make the trip from all over the island-all for a taste of the city’s best.
Get Moving in Sims
Staying fit, happy and healthy comes naturally when you’re living at Sims. The well-connected district is conveniently located close to a wide range of porting facilities and jogging and cycling paths. Here are the fun ways to get active around the neighbourhood.
1) Make use of the Sports Hub’s facilities
Other than playing host to sports and music superstars, the Sports Hub is also packed with top-notch facilities that the community can use. Practise swimming, basketball, badminton, and even surfing and fencing, among other sports.
Address: 2 Stadium Walk
2) Try indoor rock climbing or parkour
Sharing a communal space with massive rock climbing walls, On sight Climbing and Gym Kraft are two unusual gyms that can reach you how to conquer vertical spaces, working muscles you’ve never worked before.
Address: 100 Guillemard Rd.
3) Sweat it out with hot yoga
Independent studio Yoga Inc. offer affordable hot and non-heated yoga classes. The friendly, neighbourly vibe here distinguished it from big studios around the city, making it perfect for beginners.
Address: 100 Guillemard Rd.
4) Tee off at Marina Bay Golf Course
Avid golfers will love this beautiful 18-hole course, which is open to public-no country club membership needed.
Address: 80 Rhu Cross
5) Rent a bicycle and ride along Kallang Riverside Park
Imagine the breeze in your hair as you whizz down the riverbank on your bike. Don’t have a bike? You can always rent one at hip cafe Loysel’s Toy.
Address: #0 1-02 66 Kampong Bugis
6) Row, row, row your boat down Kallang River
Canoes and kayaks are available for rent from the Sports Hub’s Water port centre. Beginners can take lesson here and at WaterVenture, while expert rower an challenge themselve with a 500-metre Regatta course in Kallang Basin.
Address: 4876 Beach Road
7) Go ice skating and bowling at Leisure Park Kallang
If you’re looking more to have fun than work out, this classic mall is a failsafe option for fun activities that the whole family or gang of friends can take part together.
Address: 5 Stadium Walk
8) Play floor hockey or indoor football
Even when the weather is bad or if the urge to play striker after dark, you can still play a friendly game or two at cool standalone facilities Valhall (for floor hockey, or floorball) and The Cage (indoor football).
Address: 26, 28 & 38 ]alan Benaan Kapal
Bike and Fun
Pelton Canal Park Connector
Sims Drive is almost right next to this green path along Pelton Canal. Other than jogging or cycling up and down the streh, its users can even venture to other estate such as Upper Paya Lebar and Potong Pasir.
Kallang Riverside Park
Great for beginner , this scenic park is built on both side of the Kallang River, a great place to catch dragon boat races . Nature enthusiast will enjoy the butterfly garden and the numerous migratory bird . Insider tips: it’s a beautiful spot for a picnic.
Garden by the Bay
The Garden ‘ lesser-known eastern section, which lies east of Marina Bay, has a 2km-long, bike-friendly waterfront promenade , from which you an admire an amazing view of the skyscraper down town. Keep going south to the end of the rail to visit Marina Barrage , Gardens by the Bay’s cooled Conservatories and Marina Ba Sand.
Geylang Park Connector
Popular with residents, this calming pathway run near Old Airport Road Food Centre and goes all the way to Gardens by the Bay, with pavilions and fitness corners along the way .
East Coast Park
Families and sports enthusiast will be happy to know that this much-loved beach hangout is just a smooth run or bike ride from Mountbatten Road.
Related property SIMS Urban Oasis
Article courtesy of Guocoland.
News on Sims drive on 3rd December 2014
Article on – GuccoLand hopes project will enliven Sims Drive area
1st appear in press on 3rd December 2014. Please take note on some of the points mentioned in the article,
- total number of units, it should be 1024 and not 1042
- Price mentioned is from 3rd party point of view, not developer indication.
- Size for the child care centre to be confirm.
Things in Yishun
Yishun is like a forgotten child until recently, when our government starts to plan for the North.
Shopping and Dining
Frasers Centrepoint released statement regarding Northpoint City on 1 August 2014 (scroll down for the article)
Main point in the article is to introduce Northpoint City to the residence of Yishun. After a long long period of having with just a Northpoint Shopping Centre and a Golden village cinema for entertainment and relaxation, Fraser Centrepoint had successfully bided the land currently occupied by Bus interchange.
With Fraser experience in Mall management and a seasoned developer for residential site, Yishun residences is up for a major changes, only to better their lifestyle.
There are plans for over 500 retails outlets, library, community centre and a weather proof connectivity. Integrated Air conditioned Bus Interchange and link way to Yishun MRT station had becomes a privilege used to be found only other towns.
Of course, going to wet market/hawker on the weekend with the whole family is still a very traditional and a good bonding choice for tao hua, fried oyster, mee siam, roti prata and all traditional local foods. At Yishun, the residences is not short of such places and delicious food.
Currently, ther common complains about coming home and leaving for work as a tedious routine. Be it public transport, or driving be prepare for jams, jams and more jams.
In the near future, Thomson MRT Line, North South Expressway will serve the residences of Yishun providing additional option to reach home earlier.
More workplace have also been brought to Yishun with more industrial building popping up and more job created in service and manufacturing line, reducing residences travelling times.
There will be plentiful outdoor activities with Stadiums, Safra clubs, Parks, Reservoir and in no times a 15.5 km dedicated bicycle lane for the active residences, there is also an Orchid Country clubs that offers a venue for golf and business talk. The whole concept for all these facilities is to increase the number of active residences. A healthy residences is a happy residences.
No matter how much we take care of our body, there bond to be a day when we need to see a doctor. Yishun have a Khoo Teck Puat Hospital to serve the majority of emergency or patient needing specialise care for the residences. No more worry of travelling time to General Hospital etc. But of course, any minor illness should always go to a general practitioner or visit Yishun Polyclinic first.
Chongfu Primary is a reputable primary school in Singapore not only in Yishun. Other than Chongfu Primary, there are plenty of other schools like Northland Primary, Yishun Primary favour by many parents as well. Whether your child is from a reputable school or not does not matters, it is the students whom brings glory to the school.
GEMS world academy (Singapore) also selected Yishun as their base to operate their international schools. With influx of more foreigner, Yishun is no more a boring place.
Analysis by Desmond Wong
Article on – 3 things about Yishun’s upcoming integrated development
New property in Yishun for sale.
URA had approve more usage for industrial property
With effect from 24 November 2014, due to outlying industrial estates which are located far from existing commercial nodes, in order to facilitate the needs of people working in such area, saving times for individuals and businesses, Urban Redevelopment Authority (URA) had open up change of use to banking hall/ATM, fitness centre/gym, Clinic, Minimarts, Call Center to Business 1 (B1) industrial property.
Previously not allowed in the clean and light B1 industrial building, Appendix 2 shows the outlying industrial estates where such selected commercial uses can be allowed but not without restriction.
These newly added trade user will be restricted to level 1 of the building, If supported, the uses will be approved on Temporary Permit (TP) for up to three years and levied base on Commercial “A” rates, capped at a size of 200 square meters or 10% of the total proposed Gross Floor Area (GFA) per developmen
So what does it mean to property owner? Will the rental be increase?
Well, given only 200 square meters area, for big development will not have too big of an impact, say a development with at lease 20 ground floor units, how many will benefit from it? It is simple mathematics.
With current rental situation, if the unit is able to rent out at a decent pricing is already a blessing, I believe with the new regulation, having unit to stay vacant for a shorter duration will be more appropriate than increasing the rent.
How about tenant?
As the location is far from commercial nodes, more focus target audience, lesser competition, convenience to more people and most importantly, rental is generally cheaper for industrial property than a commercial property. There can only be advantage for the newly selected trade to operate their businesses in these areas.
One piece of advise, act fast.
Although the space allowed for the new trade is not significant, not matter what, is still a step forward from our authority.
Analysis by Desmond Wong
26 November 2014
Developers show caution in bids for Sims Drive site
First Changi Development, a unit of GuocoLand had secure a piece of 99 years leasehold land with a top bid of S$530.9 million.
Located at Sims Drive, this land had maximum gross floor area of 771,775sqf; is indeed a very big plot land land. Such big development only attract 4 bidders, as smaller developer may not have the financial muscle to vie with the big boys.
Just 400m away from Sims Drive, in Jan 2014, a keenly contested bidding plot of land at Geylang East had a top bid at about S$776.00per square foot per plot ratio (psf ppr) by S L (Serangoon).
As for Guocoland, the bid they set work out to about S$687.90psf ppr, $88.10 psfppr lower than the nearby land at Geylang East, beside Aljunied MRT Station.