Issue 254

Copyright 2011-2016 www.propwise.sg. All Rights Reserved.

CONTENTS
p2

FROM THE

EDITOR

FOMO (Fear Of Missing Out) in Life and

Welcome to the 254th edition of the

Singapore Property Weekly.

Property Investing
Hope you like it!

p6

Singapore Property News This Week

p10

Resale Property Transactions

Mr. Propwise

(March 17 March 24)

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SINGAPORE PROPERTY WEEKLY Issue 254

FOMO (Fear Of Missing Out) in Life and Property Investing

By Property Soul (guest contributor)
I was recently at the Hong Kong International
Airport trying to catch the 8pm flight back to
Singapore when the staff at the check-in
counter gave me an unexpected offer.
MissXX, are you in a hurry to fly back? We
have checked in 300 passengers and the
flight is already full. Can we put you on the
next available flight departing 1.50am?
But its only 6pm now. Is there any earlier
flight?
Most passengers have done their check-in
online. And I am afraid that all other flights are
full.Online check-in?

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SINGAPORE PROPERTY WEEKLY Issue 254

My meetings were so packed I didnt even
have time to turn on the TV in my hotel
room.If you can take the 1.50am flight, we
will offer you a free upgrade to the next higher
class. You can choose to upgrade on this
flight or any flight in the future. On top of that,
we will give you one thousand dollars in cash
right now.She said this as she put her hand
inside the drawer. She was probably thinking
of the famous line in The Godfather:Make
him an offer he can't refuse.

But my husband is waiting for me at the

Changi Airport. It was just my polite way of
saying no.

You can call him now. We provide free IDD

here. What is his number? She held up the
receiver of the phone at her desk.
I think I just try my luck for the 8 pm flight.
Okay, its up to you, with an expression that
said What a stubborn customer!

Wait. One thousand Singapore or Hong

Kong currency?

Heres a HKD40 F&B voucher. Go get a

drink and come back to check again an hour
later.

Hong Kong Dollars. Oops, did I just ask a

silly question?Look, we can put you on
standby but there is no guarantee that we can
find you a seat. The best is that you take this
offer.Honestly, I would rather be on my own
bed than on the bed of an upgraded cabin in
the wee hours of the morning.

I grabbed a HKD39 mango sago drink nearby

as quickly as possible and spent the next 40
minutes standing near her counter. I waited till
no one was in the check-in queue and
approached her right away. I was relieved
that she finally printed my boarding pass to
board the 8pm flight.

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SINGAPORE PROPERTY WEEKLY Issue 254

It was code-shared with three flights. No
wonder it was so full!
Special offer at the show flat
One morning in 2011, I followed the crowd to
visit the sales gallery of a new project launch.
How many bedrooms are you looking for?
The property agent asked me.
Two bedders.
Our two bedrooms are all sold out... Wait, we
still have one 2+1 unit left here.
Its facing outside. I prefer a pool view unit.
Facing the pool is very noisy. Why pay more
to get the noise? She added, We already
have two customers eyeing this last 2+1 unit.
They are checking with their bank now. Youd
better hurry before its gone.
But there is Phase 2, right?
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Phase 2 blocks are 3 and 4 bedrooms. Only

Phase 1 units enjoy a 5 percent discount off
the list price. The project is selling very well.
The developer will definitely increase the
price, at least 20 percent. Besides, the facing
and furnishing of Phase 2 units are not as
good as Phase 1, and no branded appliances
too. Thats why everyone is buying now!
I looked around and saw many eager buyers
holding their cheque book. Its true that
everybody else was buying except that
Phase 2 units did have 2 bedrooms, were
better facing with nice pool views, plus would
sell with the same furnishings and price
levels.
Look what savvy investors are doing
At the end of a flat viewing in 2001, a property
agent said this to me: Quickly make an offer
now if you are keen.
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SINGAPORE PROPERTY WEEKLY Issue 254

I am only telling you this. Recently, I notice
that many true investors have started going
back to the property market. You dont want
to miss all the good deals before prices go up
again.

In investment, FOMO is the fear of missing

the best time to buy, a high return or a big
profit. No one wants to think in retrospect how
one could have laughed all the way to the
bank but instead ended up with nothing.

I wanted to be one of the savvy ones too. If

only I had enough cash to buy!

Last month my husband and I just celebrated

another wedding anniversary. I can still recall
somebody said this to me many years ago: I
am going to ask you one last time. If I dont
get a yes this time, I might have to start
looking elsewhere You are a smart girl and
I know you always do the right thing.

Soon the property market was plagued by

September 11, SARS and an economic
downturn. It was not until 2006 that the
market finally showed signs of recovery.
Say yes or regret later
FOMO (Fear of Missing Out) is the fear of
regret for missing a good opportunity or an
attractive reward. Its the same reason why
shoppers have to buy right now because they
cant afford to miss out when things are on
sale.

Back to Contents

I should have known that this was a

manipulation of my FOMO.
By guest contributor Property Soul, a
successful property investor, blogger, and
author of the No B.S. Guide to Property
Investment.

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SINGAPORE PROPERTY WEEKLY Issue 254

Singapore Property This Week

Residential
Resale prices of private apartments up by
0.4% month-on-month in Feb

In February this year, resale prices of

completed condo units have increased by
0.4% month-on-month. This follows a 0.2%
month-on-month
increase
in
January,
according to the flash estimates for the
Singapore Residential price Index (SRPI).
The increase in February was led by resale
prices in the central region, which have gone
up by 0.5% that month after falling 0.6% in
January. Despite the increase in resale
prices, market experts believe that this may
be a one-off rebound. Ong Kah Seng from
RST Research added that a handful of
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sellers are actually making losses from their

resales. In February, prices in the non-central
region had increased by 0.3% and prices of
small units had risen by 1.1%. This is not
surprising to market experts as shoebox units
in suburban areas are often seen as less
attractive to renters who are able to rent a
four- or five-room flat with the same price.

(Source: Business Times)

Two-speed market develops for private
home

According to the Business Times, a twospeed market may be emerging in the private
residential market as price declines for nonlanded units in the prime areas and city fringe
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SINGAPORE PROPERTY WEEKLY Issue 254

moderates while declines for suburban nonlanded units and landed home increases. For
the 10th quarter, private home prices have
fallen by 0.7% quarter-on-quarter. This fall
was led by a 1.5% fall in landed home prices.
Non-landed home prices fell by 0.9% and
0.4% in the Outside Central Region (OCR)
and Rest of Central Region (RCR)
respectively, However in the Core Central
Region (CCR), prices had increased by 0.4%.
Ong Teck Hui from JLL said that prices in the
CCR and RCR are moderating while prices in
the OCR and landed segment will soften at a
higher pace. With larger declines in prices,
properties in the CCR and RCR appear more
attractive to buyers hence demand may
increase. However for landed homes, the
price quantums tend to be higher and sellers
have to offer discounts if they want to move

Back to Contents

sales, said Lee Nai Jia from DTZ.

(Source: Business Times)

HDB resale prices fall by 0.1% quarter-onquarter in Q1

After rising 0.1% in Q4 last year, HDB resale
prices have fallen by 0.1% in Q1 this year,
according to flash estimates by HDB. These
estimates include transactions in January,
February and the first 21 days of March.
DTZs Lee Nai Jia said that prices for resale
HDB flats have shown greater resilience than
those for private homes, which had fallen
0.7% in Q1. As demand for resale flats is
supported by buyers who require a home at
short notice and prefer to stay near their
parents, demand for homes at choice
locations in mature estates is expected to
remain strong.

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SINGAPORE PROPERTY WEEKLY Issue 254

Also, due to the Lunar New Year holidays, Q1
transactions tend to be fewer, added Ismail
Gafoor from PropNex who predicted that HDB
resale prices will be flattish in 2016, with
marginal price movements. Prices are
expected to further stabilise due to an
increase in BTO supply in 2016 to 18,000
units, added market experts.
(Source: Business Times)
GCB at Gallop Road sold for $27m
Located at Gallop Road, a Good Class
Bungalow (GCB) was sold for $27m or
$1,700 psf based on a land area of 15,884.29
sq ft. The bungalow which was rebuilt and
completed in 2012 is freehold and has a total
of 5 bedrooms. William Wong from Realstar
Premier said that the bungalow commanded
that price because it was built about four
years ago. An older house in the locale would
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command around $1,500 to 1,600 psf, he

said.
(Source: Business Times)
Apartment at Seven Palms Sentosa Cove
sold for $3,721 psf
An apartment at Seven Palms Sentosa Cove
was sold for $15.782 million or $3,721 psf
based on strata area of 4,241 sq ft. The unit
is located on the 3rd floor of the 4-storey
condo which comprises of 41 units ranging
from three- to five-room apartments.
According to market experts, the latest
transaction in the condo is lower than the
$4,131 psf and $4,200 psf achieved in 2 sales
made in 2014 and 2012 respectively.
Nonetheless, Jerry Tan from JTResi said that
given current market conditions, $3,721 psf is
considered a good selling price.
(Source: Business Times)
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SINGAPORE PROPERTY WEEKLY Issue 254

Commercial
Mixed-use site at Bukit Batok to be put up
for tender
Market watchers predict that a 99-year
commercial and residential site at Bukit Batok
West will draw some interest despite its
location and the cool property sentiment. This
is because the area has been earmarked for
future development and the site has been
zoned for residential and commercial use.
The site spans 14,696.7 sq m and has a
maximum gross floor area of 44,091 sq m. Of
the maximum gross floor area, about 6,000
sq m is stipulated for commercial use. The
site can yield about 425 units. Ong Kah Seng
from RST Research added that the
commercial component will be a key
attraction for developers due to a lack of
supporting retailing amenities in the vicinity.

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Cushman & Wakefields Christine Li predicts

that the site will attract a top bid of $570 to
620 psf ppr while Ong expects the top bid to
be between $520 to 570 psf ppr. Launched
for sale under the confirmed H1 2016
Government Land Sales Programme List, the
sites tender will close on May 24.

(Source: Business Times)

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SINGAPORE PROPERTY WEEKLY Issue 254

Non-Landed Residential Resale Property Transactions for the Week of Mar 17 Mar 24
Postal
District
1
1
3
3
3
4
4
4
4
4
5
5
5
5
5
5
8
8
9
9
9
9
9
9

Project Name
THE SAIL @ MARINA BAY
THE CLIFT
THE METROPOLITAN CONDOMINIUM
QUEENS
THE METROPOLITAN CONDOMINIUM
SEVEN PALMS SENTOSA COVE
REFLECTIONS AT KEPPEL BAY
CARIBBEAN AT KEPPEL BAY
THE PEARL @ MOUNT FABER
THE INTERLACE
HUNDRED TREES
THE PARC CONDOMINIUM
CARABELLE
THE INFINITI
PALM GREEN
BOTANNIA
CITY SQUARE RESIDENCES
CITYLIGHTS
OUE TWIN PEAKS
THE RITZ-CARLTON RESIDENCES SINGAPORE CAIRNHILL
WATERSCAPE AT CAVENAGH
TRIBECA
ONE DEVONSHIRE
CAIRNHILL CREST

Back to Contents

Area
(sqft)
883
495
1,033
1,195
1,894
4,241
1,841
1,475
1,087
2,056
1,302
1,464
883
1,367
1,109
2,691
570
1,421
570
2,831
1,561
1,033
1,593
1,733

Transacted
Price ($)
2,160,000
1,000,000
1,415,000
1,468,000
2,239,990
15,782,000
3,000,000
2,000,000
1,282,000
2,350,000
1,650,000
1,770,000
1,040,000
1,350,000
1,025,000
2,330,000
980,000
1,830,000
1,664,874
7,100,000
3,150,000
1,820,000
2,800,000
3,000,000

Price
Tenure
($ psf)
2,447 99
2,020 99
1,369 99
1,229 99
1,182 99
3,721 99
1,630 99
1,356 99
1,179 99
1,143 99
1,267 956
1,209 FH
1,178 956
988
FH
925
FH
866 956
1,718 FH
1,288 99
2,918 99
2,508 FH
2,018 FH
1,761 FH
1,758 FH
1,731 FH

Postal
District
9
9
9
9
9
10
10
10
10
10
10
10
10
10
10
10
10
10
11
11
11
11
11
11

Project Name
THE MORNINGSIDE
ASPEN HEIGHTS
ASPEN HEIGHTS
ROBERTSON BLUE
CAVENAGH COURT
ARDMORE PARK
RV RESIDENCES
D'LEEDON
RV EDGE
THREE THREE ROBIN
THE LOFT
ZENITH
THE FORD @ HOLLAND
AVALON
HOLT RESIDENCES
SUTTON PLACE
VILLAGE TOWER
RIDGEWOOD
PARK INFINIA AT WEE NAM
SOLEIL @ SINARAN
THOMSON EURO-ASIA
RESIDENCES @ EVELYN
SKY@ELEVEN
CUBE 8

Area
(sqft)
1,302
1,582
2,702
1,432
1,841
2,885
678
1,055
463
1,582
1,345
743
484
1,582
2,067
1,281
1,808
1,399
893
1,464
947
2,250
2,820
893

Transacted
Price ($)
1,950,000
2,315,000
3,800,000
1,800,000
2,260,000
8,180,000
1,432,888
1,984,000
830,000
2,800,000
2,330,000
1,275,000
728,000
2,230,000
2,850,000
1,760,000
2,350,000
1,760,000
1,770,000
2,720,000
1,590,000
3,600,000
4,260,000
1,270,000

Price
Tenure
($ psf)
1,497
FH
1,463 999
1,406 999
1,257
FH
1,228
FH
2,836
FH
2,113 999
1,881
99
1,793
FH
1,770
FH
1,732
99
1,717 999
1,503
FH
1,409
FH
1,379
FH
1,374
FH
1,300
FH
1,258 999
1,981
FH
1,858
99
1,679
FH
1,600
FH
1,511
FH
1,422
FH

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SINGAPORE PROPERTY WEEKLY Issue 254

Postal
District
11
11
11
11
12
12
12
12
14
14
14
15
15
15
15
15
15
15
15
15
15
15
15
15
16
16
16

Project Name
TEN @ SUFFOLK
NOVENA COURT
MINBU COURT
THE ARCADIA
SKYSUITES17
TREVISTA
OLEANDER TOWERS
SUNVILLE
EAST SHINE
CANNE LODGE
EUNOSVILLE
THE SHORE RESIDENCES
COTE D'AZUR
THE WATERSIDE
THE MAKENA
FLAMINGO VALLEY
EQUATORIAL APARTMENTS
THE GERANIUM
DUNMAN VIEW
MANDARIN GARDEN CONDOMINIUM
VILLA MARINA
TEMBELING CENTRE
EAST BAY GARDENS
NEPTUNE COURT
THE SUMMIT
WATERFRONT WAVES
CHANGI COURT

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Area
(sqft)
1,184
861
1,991
3,821
1,066
1,141
1,141
1,163
1,055
1,238
1,701
592
1,367
2,400
1,152
2,960
2,411
990
1,324
1,572
1,507
2,153
1,399
1,636
829
1,292
840

Transacted
Price ($)
1,600,000
1,088,000
1,770,000
3,200,000
1,410,000
1,468,000
1,190,000
1,080,000
1,100,000
1,150,000
1,140,000
910,000
1,800,000
3,120,000
1,450,000
3,500,000
2,750,000
970,000
1,245,000
1,374,000
1,285,000
1,750,000
1,080,000
1,080,000
940,000
1,412,000
888,000

Price
Tenure
($ psf)
1,351
FH
1,263
FH
889
FH
837
99
1,323
FH
1,287
99
1,043
99
929
FH
1,043
FH
929
FH
670
102
1,537 103
1,317
99
1,300
FH
1,259
FH
1,182
FH
1,141
FH
980
FH
940
99
874
99
853
99
813
FH
772
99
660
99
1,134
FH
1,093
99
1,058
FH

Postal
District
16
16
16
16
16
16
16
17
17
17
18
18
18
19
19
19
19
19
20
20
21
21
21
21
21
22
23

Project Name
AQUARIUS BY THE PARK
THE BAYSHORE
CHANGI GREEN
BAYSHORE PARK
THE CLEARWATER
AQUARIUS BY THE PARK
BEDOK COURT
ESTELLA GARDENS
AZALEA PARK CONDOMINIUM
LOYANG VALLEY
SEASTRAND
LIVIA
WATERVIEW
RESIDENCES BOTANIQUE
THE MINTON
CHILTERN PARK
RIVERVALE CREST
CHUAN PARK
BISHAN POINT
PEIRCE VIEW
THE NEXUS
GARDENVISTA
GARDENVISTA
CLEMENTI PARK
PINE GROVE
IVORY HEIGHTS
HILLVISTA

Area
(sqft)
893
1,012
1,733
936
1,033
1,206
2,271
1,141
1,507
1,991
592
1,259
4,155
883
980
1,518
1,216
1,399
1,270
797
1,378
1,345
861
1,722
1,701
1,701
1,152

Transacted
Price ($)
890,000
893,000
1,525,040
808,000
880,000
945,000
1,538,000
893,000
1,038,000
1,115,000
610,000
1,040,000
2,510,000
950,000
990,000
1,260,000
830,000
940,000
1,320,000
778,000
1,880,000
1,650,000
1,010,000
1,580,000
1,360,000
1,008,888
1,330,000

Price
Tenure
($ psf)
996
99
883
99
880
FH
863
99
852
99
784
99
677
99
783
FH
689
999
560
99
1,030
99
826
99
604
99
1,076
FH
1,011
99
830
99
682
99
672
99
1,039
99
977
FH
1,365
FH
1,226
99
1,173
99
917
FH
800
99
593
100
1,155
FH

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SINGAPORE PROPERTY WEEKLY Issue 254

Postal
District
23
23
23
23
23
23
23
25
26
26
26
27
27
27
27
28

Project Name
HILLVIEW REGENCY
CASHEW HEIGHTS CONDOMINIUM
CENTURY MANSIONS
CHANTILLY RISE
MI CASA
HILLINGTON GREEN
PARKVIEW APARTMENTS
ROSEWOOD SUITES
MEADOWS @ PEIRCE
CASTLE GREEN
SEASONS PARK
EIGHT COURTYARDS
SELETARIS
ORCHID PARK CONDOMINIUM
YISHUN EMERALD
SELETAR SPRINGS CONDOMINIUM

Area
(sqft)
969
1,658
1,012
947
1,119
2,594
936
1,098
1,216
947
1,496
861
1,421
1,141
1,421
1,582

Transacted Price
Tenure
Price ($) ($ psf)
880,000
908
99
1,500,000 905
999
888,000
878
FH
830,000
876
FH
945,000
844
99
2,018,000 778
999
690,000
737
99
880,000
802
99
1,435,000 1,180 FH
859,000
907
99
1,050,000 702
99
820,000
952
99
1,060,000 746
FH
760,000
666
99
915,000
644
99
1,150,000 727
99

NOTE: This data only covers non-landed residential resale property

transactions with caveats lodged with the Singapore Land Authority.
Typically, caveats are lodged at least 2-3 weeks after a purchaser
signs an OTP, hence the lagged nature of the data.

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