Issue 337

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

 CONTENTS FROM THE

p2 3 Disruptive Trends that Will Change

EDITOR
Welcome to the 338th edition of the
Singapore Property Weekly.
the Property Industry
Hope you like it!
p7 Resale Property Transactions
Mr. Propwise
(November 6 November 10)

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 SINGAPORE PROPERTY WEEKLY Issue 338

3 Disruptive Trends that Will Change the Property

Industry
By Property Soul (guest contributor)

Earlier this year I spoke at the SMART Expo

about 5 Disruptive Trends That Are Changing
the Singapore Property Industry.In my
presentation, I shared with the audience how
digital technologies like Big Data, Fintech,
Virtual Reality and Smart Homes are
reshaping the Singapore property market,
while highlighting the emergence of the DIY
generation.

Let me recap three of the key disruptive

trends that will forever change our real estate
industry.

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 SINGAPORE PROPERTY WEEKLY Issue 338
Trend #1 Every buyer will be an
Informed Buyer
I mentioned in my book No B.S. Guide to
Property Investment that the real estate
industry is an imperfect market. Homebuyers
and property investors often lack the market
information they need before they commit.
For instance, many property resources and
tools are designed only for real estate
professionals, but not for the public. For retail
investors, there is no choice but to trust the
mass media and industry analysts.
However, with the availability of property
portals and online databases, endusers can
now do their own market research and run
their own property analyses based on first-
hand data.
Gone are the days when we can rely only on
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agents and appraisers to tell us the market
value of a property. Everyone can be a
property analyst in the Information Age.
How big is the future supply? Which new
projects have leftover units? What are the
recent transacted prices? How much rent a
similar unit can fetch? The answers are just a
few clicks away.
In my earlier post 5 ways Big Data is
disrupting Singapore property market, I talk
about how to harness Big Data technologies
to capture and analyze huge amounts of
property data in order to identify trends and
patterns meaningful to industry players and
property investors.
Big Data is definitely going to get even bigger
in the future. And Big Data can turn into big
profits if we know how to turn transaction data
into useful insights.
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 SINGAPORE PROPERTY WEEKLY Issue 338
Trend #2 Customers are getting more
sophisticated
Besides being well-informed, todays
customers are also getting more
sophisticated.In the past, developers built and
buyers would come. In the internet age,
developers build and buyers Google first.
In the past, any dissatisfied customer can
complain to ten others by phone or dozens of
people by email in one day. In the internet
age, any dissatisfied customer can complain
in the social media and reach hundreds or
thousands in one day.
Thanks to the power of social media. We
have plenty of enduser reviews, discussion
forums and community groups online.
Customers are just a few clicks away to find
out what others think of a product or a
service.If there is trust, there is business. If
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there are positive reviews, there are sales.
A value-conscious developer should put more
dollars into monitoring social media rather
than advertising in print media. Afterall, there
is buying interest only if a property ad can
engage the target audience.
Similarly, professional media should declare
the writers or the analysts interests when
they comment on the property market in any
article. Afterall, there is credibility in a media
only if it takes a neutral stand in news
reporting.
Very soon, there will be websites to review
the customer service of property agents (not
just OrangeTees Property Agent Bank with
listings of only 5-star rating agents), quality of
TOP projects, charges and services of
conveyancing lawyers, etc. there is
nowhere to hide.
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 SINGAPORE PROPERTY WEEKLY Issue 338

Gone are the days when homebuyers have
no choice but to pray that there wont be any
hiccup after they paid for their property.
Customers these days know their rights, and
they wont hesitate to fight for it.
In 2015, residents of the Seaview Condo
sued the developer, the main contractor, the
architect and the electrical engineers for $32
million for defects in the development.In
March, 200 owners of La Fiesta complained
about their units aircon ledges which
exceeded 5 to 7 percent of the total floor
area, representing a total overpayment of $18
million in unused space.
The government reacted in less than a month
by stressing that URA will take developers to
task if they misrepresent important
information about the units they are selling to
prospective home-buyers. It also states that
the floor area of various types of spaces,
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including air-con ledges and balconies, must
also be accurately represented in the
showflats.
Trend #3 The DIY Age has arrived
If we can use self-service check-in kiosks at
the airport; order burgers on a touch-screen
LED display in McDonalds; pay for groceries
at self-service counters in NTUC Fairprice;
why cant we buy properties the DIY way?
A survey by the Council for Estate Agencies
(CEA) showed that only 60 percent of
consumers said they are likely to engage an
agent for future transactions. Figures from
HDB show that DIY buyers and sellers of
resale flats have increased from 11 percent in
2010 to 23 percent in the last five months.
HDB also publishes online guides and
conducts seminars for the new DIY
generation.
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 SINGAPORE PROPERTY WEEKLY Issue 338
There are many portals for no-agent buyers,
sellers, landlords and tenants DirectHome,
OhMyHome, Snappyhouse, and recently
Stackedhomes. There is also Yotcha offering
a platform for property agents to bid if they
want to get the business from the sellers. For
sellers, they can post online photos of their
home, find an agent-free buyer, and do the
paperwork on their own.
Saving money is only one of the reasons.
Todays customers have changed: They want
to buy, but dont want to be sold. They prefer
self-service rather than to be served. Stop
pushing to them what you think they want,
and listen to what they say they want.
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The mortgage industry is jumping on the
Fintech bandwagon too. OCBC has closed
more than S$10 million in home loans
through its chatbot application over just three
months.Property agents, mortgage bankers
and other middlemen in the property industry
are facing unprecedented challenges. The
future of DIY is now!
Are you ready to fully embrace the age of
disruption?
By guest contributor Property Soul, a
successful property investor, blogger, and
author of the No B.S. Guide to Property
Investment.
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 SINGAPORE PROPERTY WEEKLY Issue 338
Non-Landed Residential Resale Property Transactions for the Week of Nov 6 Nov 10
Postal Area Transacted Price
Project Name Tenure
District (sqft) Price ($) ($ psf)
1 THE SAIL @ MARINA BAY 667 1,215,000 1,821 99
2 SPOTTISWOODE 18 388 850,000 2,194 FH
2 SPOTTISWOODE RESIDENCES 926 1,868,000 2,018 FH
2 ICON 904 1,465,000 1,620 99
3 THE CREST 1,227 2,356,000 1,920 99
3 ALEXIS 398 705,000 1,770 FH
3 TANGLIN VIEW 872 1,210,000 1,388 99
3 RIVER PLACE 807 1,095,000 1,356 99
3 EMERALD PARK 1,087 1,360,000 1,251 99
3 RIVER PLACE 1,582 1,950,000 1,232 99
4 REFLECTIONS AT KEPPEL BAY 1,625 3,043,810 1,873 99
4 REFLECTIONS AT KEPPEL BAY 1,152 1,856,470 1,612 99
4 REFLECTIONS AT KEPPEL BAY 7,987 12,779,200 1,600 99
4 TURQUOISE 2,411 3,700,000 1,535 99
5 THE ROCHESTER 861 1,200,000 1,394 99
5 THE VISION 818 1,020,000 1,247 99
5 LANDRIDGE CONDOMINIUM 1,776 2,200,000 1,239 FH
5 THE PEAK@BALMEG 1,711 1,990,000 1,163 FH
5 THE VISION 1,302 1,432,200 1,100 99
5 VARSITY PARK CONDOMINIUM 1,292 1,415,000 1,095 99
5 VARSITY PARK CONDOMINIUM 1,798 1,930,000 1,074 99
5 THE INFINITI 1,625 1,680,000 1,034 FH
5 BLUE HORIZON 969 945,000 975 99
5 BLUE HORIZON 936 900,000 961 99
7 SOUTHBANK 958 1,435,000 1,498 99
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Postal Area Transacted Price
Project Name Tenure
District (sqft) Price ($) ($ psf)
8 CITY SQUARE RESIDENCES 1,496 2,128,000 1,422 FH
8 KERRISDALE 2,379 2,320,000 975 99
THE RITZ-CARLTON RESIDENCES
9 2,831 9,525,000 3,365 FH
SINGAPORE CAIRNHILL
9 HILLTOPS 2,465 8,000,000 3,245 FH
9 THE VERMONT ON CAIRNHILL 3,466 7,500,000 2,164 FH
9 THE COSMOPOLITAN 1,141 2,420,000 2,121 FH
9 CAIRNHILL CREST 1,733 3,200,000 1,847 FH
9 THE COSMOPOLITAN 1,399 2,570,000 1,837 FH
9 URBANA 1,012 1,818,000 1,797 FH
9 ROBERTSON 100 1,066 1,800,000 1,689 FH
9 ROBERTSON 100 1,561 2,600,000 1,666 FH
9 SAM KIANG MANSIONS 1,206 1,880,000 1,559 FH
9 SUITES AT ORCHARD 2,196 2,790,000 1,271 99
10 ARDMORE THREE 1,744 7,530,000 4,318 FH
10 THE NASSIM 2,906 10,000,000 3,441 FH
10 THREE BALMORAL 1,528 3,316,600 2,170 FH
10 THREE BALMORAL 1,528 3,302,300 2,161 FH
10 ONE TREE HILL RESIDENCE 1,130 2,335,000 2,066 FH
10 MADISON RESIDENCES 1,464 2,800,000 1,913 FH
10 NATHAN RESIDENCES 592 1,082,000 1,828 FH
10 RV RESIDENCES 1,216 2,215,000 1,821 999
10 RV RESIDENCES 1,216 2,215,000 1,821 999
10 VERDURE 1,421 2,580,000 1,816 FH
10 REGENCY PARK 3,175 5,300,000 1,669 FH
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 SINGAPORE PROPERTY WEEKLY Issue 338

Postal Area Transacted Price Postal Area Transacted Price

Project Name Tenure Project Name Tenure
District (sqft) Price ($) ($ psf) District (sqft) Price ($) ($ psf)
10 THE DRAYCOTT 2,637 4,390,000 1,665 FH 14 PRIME RESIDENCE 398 510,000 1,281 FH
10 D'LEEDON 1,173 1,880,000 1,602 99 14 VACANZA @ EAST 1,938 1,950,000 1,006 FH
10 THE ASTON 1,109 1,610,000 1,452 FH 14 SKT MANSIONS 1,012 880,000 870 FH
10 CHATEAU LE FAME 1,109 1,610,000 1,452 FH 14 SKT MANSIONS 1,119 938,000 838 FH
10 THE LEGACY 969 1,380,000 1,425 FH 15 MARINE BLUE 732 1,393,290 1,904 FH
10 HOLLAND PEAK 1,464 2,000,000 1,366 FH 15 FULCRUM 1,055 1,873,920 1,776 FH
10 N.A. 1,518 1,888,888 1,245 FH 15 THE ESTA 1,345 2,168,000 1,611 FH
10 SPANISH VILLAGE 2,056 2,550,000 1,240 FH 15 THE ESTA 1,475 2,308,888 1,566 FH
10 LUTHERAN TOWERS 1,916 1,685,000 879 103 15 HERITAGE EAST 377 555,000 1,473 FH
11 6 DERBYSHIRE 474 1,361,644 2,875 FH 15 PEBBLE BAY 2,626 3,830,000 1,458 99
11 6 DERBYSHIRE 527 1,403,938 2,662 FH 15 THE SERENNO 775 1,110,000 1,432 FH
11 6 DERBYSHIRE 474 1,175,879 2,483 FH 15 ONE FORT 1,227 1,631,910 1,330 FH
11 26 NEWTON 570 1,400,000 2,454 FH 15 THE HACIENDA 1,206 1,340,000 1,112 FH
11 L'VIV 614 1,300,000 2,119 FH 15 TEMBELING COURT 818 888,000 1,085 FH
11 L'VIV 1,001 2,050,000 2,048 FH 15 EBONY MANSIONS 1,206 1,300,000 1,078 FH
11 N.A. 1,238 2,500,000 2,020 FH 15 COSTA RHU 1,399 1,485,000 1,061 99
11 BUCKLEY CLASSIQUE 1,475 2,750,000 1,865 FH 15 GALAXY TOWERS 1,066 1,113,000 1,044 FH
11 SOLEIL @ SINARAN 1,722 3,100,000 1,800 99 15 SANCTUARY GREEN 1,593 1,580,000 992 99
12 SKYSUITES17 377 690,000 1,832 FH 15 VILLA MARINA 1,507 1,330,000 883 99
12 THE RIVERINE BY THE PARK 980 1,478,000 1,509 FH 15 CELESTIA 1,216 1,070,000 880 FH
12 OKIO 570 843,800 1,479 FH 15 NEPTUNE COURT 1,270 1,010,000 795 99
12 THE MARQUE @ IRRAWADDY 883 1,110,000 1,258 FH 16 CASA MERAH 1,227 1,350,000 1,100 99
12 BEACON HEIGHTS 926 900,000 972 999 16 WATERFRONT WAVES 969 1,010,000 1,043 99
13 SKY GREEN 1,496 2,080,000 1,390 FH 16 EAST MEADOWS 1,206 1,150,000 954 99
13 SOMMERVILLE LOFT 1,098 1,175,000 1,070 FH 16 BAYWATER 1,033 935,000 905 99
14 MELOSA 431 560,000 1,301 FH 16 AQUARIUS BY THE PARK 893 805,000 901 99
14 D'OASIA 538 700,000 1,301 FH 16 CASA FLORA 1,561 1,270,000 814 FH

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 SINGAPORE PROPERTY WEEKLY Issue 338

Postal Area Transacted Price Postal Area Transacted Price

Project Name Tenure Project Name Tenure
District (sqft) Price ($) ($ psf) District (sqft) Price ($) ($ psf)
16 TANAMERA CREST 1,184 930,000 785 99 21 SUMMERHILL 1,206 1,266,000 1,050 FH
16 BEDOK COURT 2,271 1,625,000 715 99 21 SPRINGDALE CONDOMINIUM 1,345 1,390,000 1,033 999
17 CARISSA PARK CONDOMINIUM 1,324 1,000,000 755 FH 21 SELANTING GREEN 1,001 1,030,000 1,029 FH
17 BALLOTA PARK CONDOMINIUM 1,421 948,000 667 FH 21 CLEMENTI PARK 1,722 1,700,000 987 FH
17 LOYANG VALLEY 1,421 888,000 625 99 21 THE RAINTREE 1,378 1,250,000 907 99
18 SEA ESTA 1,119 1,150,000 1,027 99 22 PARC VISTA 1,152 985,000 855 99
18 SEA ESTA 904 890,000 984 99 22 PARC OASIS 1,507 1,238,000 822 99
18 RIPPLE BAY 1,076 980,000 910 99 23 HILLVISTA 947 1,138,000 1,201 FH
18 RIS GRANDEUR 1,367 1,150,000 841 FH 23 HILLVIEW GARDEN ESTATE 1,076 980,000 910 998
18 NV RESIDENCES 1,453 1,200,000 826 99 23 PARKVIEW APARTMENTS 1,119 765,000 683 99
18 MELVILLE PARK 1,421 825,000 581 99 23 NORTHVALE 1,270 850,000 669 99
19 THE SCALA 829 1,080,000 1,303 99 27 EIGHT COURTYARDS 990 920,000 929 99
19 FONTAINE PARRY 915 1,000,000 1,093 999 27 EUPHONY GARDENS 1,894 1,035,000 546 99
19 PARC VERA 1,141 1,150,000 1,008 99 28 SELETAR PARK RESIDENCE 527 620,000 1,175 99
19 CHILTERN PARK 1,572 1,428,888 909 99 28 H2O RESIDENCES 1,130 1,160,000 1,026 99
19 RIVER ISLES 1,227 1,050,000 856 99
19 RIVERVALE CREST 1,206 788,000 654 99
NOTE: This data only covers non-landed residential resale property
20 SKY VUE 829 1,288,000 1,554 99
transactions with caveats lodged with the Singapore Land Authority.
20 SKY HABITAT 1,841 2,739,300 1,488 99
Typically, caveats are lodged at least 2-3 weeks after a purchaser
20 SKY HABITAT 1,410 1,919,950 1,362 99 signs an OTP, hence the lagged nature of the data.
20 SKY HABITAT 1,163 1,561,230 1,343 99
21 SUITES AT BUKIT TIMAH 431 675,000 1,568 FH
21 THE BEVERLY 1,862 2,278,888 1,224 FH
21 CAVENDISH PARK 1,313 1,450,000 1,104 99
21 CLEMENTI PARK 1,163 1,250,000 1,075 FH
21 SYMPHONY HEIGHTS 1,216 1,300,000 1,069 FH

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