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Ultimate Division DWG, 190 Lor 6 Toa Payoh #-03/512, Toa Payoh (2026)

29/05/2017

Congratulations to Top 20 Achievers for the month of April 2017 from Ultimate Division.

20/02/2017

Budget 2017
CPF Housing Grant for couples who buy 4-room or smaller HDB resale flats - from $30K to $50K! Brilliant move that immediately increases housing affordability for couples, encourages them to start families sooner, and may even indirectly deliver a boost to the resale market :)

14/12/2016

HDB to launch 17,000 BTO flats next year; new flats with shorter wait to be offered in 2018

Source: Straits Times SINGAPORE - The supply of new Build-To-Order (BTO) flats will dip slightly to 17,000 next year, National Development Minister Lawrence Wong said in his latest blog post on Wednesday (Dec 14).

"We are gradually tapering supply but still ensuring a healthy pipeline to meet demand," wrote Mr Wong.

It is a drop from the 18,000 BTO units launched this year, and from the peak of 25,000 released annually between 2011 and 2013.

Meanwhile, flats that will be built faster especially for young couples may be ready to launch by 2018.

To help reduce the wait times for new BTO flats, the minister revealed that he has tasked HDB to plan and prepare for several new sites which can be put out faster.

The move looks to benefit younger couples, who have been giving feedback to Mr Wong about the need to shorten the wait times.

He said: "These units will not be ready next year, but I hope we can begin to offer them by 2018."

The 2016 launches, he said, "kept prices stable and offered many choices to homebuyers".

He also said the application rates for BTO launches by first-timer families applying for 3-room or bigger flats in non-mature estates were "stable and manageable".

The application rate for this group was 1.5 times for the most recent November BTO launch, and an average of two times for the whole of 2016.

This means that BTO applicants will be able to get a flat within their first or second try, and "most definitely by the third try", the minister wrote.

"Hence, I always advise young families to apply for BTO flats in non-mature estates to increase their chances of success."

Next year's BTO flats will see a similar spread across the mature and non-mature estates, wrote Mr Wong.

"This will give buyers a range of choices, including young couples who wish to live near their parents or the elderly who want to right-size and age in place," he said.

The ministry will continue to monitor the market, adjust its building programmes and review its housing schemes, added Mr Wong.

He also highlighted the Proximity Housing Grant, enhanced Special CPF Housing Grant and Fresh Start Housing Scheme that benefitted thousands of homebuyers this year.

"All of these demonstrate our commitment to keep home ownership within reach of all Singaporean families", he wrote.

18/10/2016

509 new private homes sold in September, up 49% on year and 9% over August: URA

Source: Straits Times | Business

SINGAPORE - Demand for new private homes in Singapore recovered in September after a fall in August, though it did not come close to the one-year high hit in July.

Developers sold 509 new units last month, up by 49.3 per cent from 341 in September 2015, according to data from the Urban Redevelopment Authority on Monday (Oct 17).

Compared to a month earlier, sales were up by 8.8 per cent from August's 468 units. The decline was partly due to the traditional Chinese Hungry Ghost festival which typically sees weaker market activity, as well as fewer units launched for sale in the month.

September sales were still dwarfed by the 1,091 units moved in July, according to data from the Urban Redevelopment Authority on Thursday.

The city fringe led activity in September, with 297 units sold. This was followed by 144 units mass market homes sold and 68 units in the prime districts.

During the month, developers put 479 units - excluding executive condominiums (EC) - on the market, compared with 590 units in August.

URA figures showed that 260 new EC units were sold in September, taking total new private homes transacted last month to 769, lower than August's 799 units.

18/10/2016

Lendlease unveils plans for Paya Lebar Quarter mixed development

Source: Straits Times | Business

SINGAPORE - The massive upcoming mixed development in Paya Lebar Central will comprise seven buildings on a 3.9-hectare site.

Its developer Lendlease on Monday unveiled detailed plans for the S$3.2 billion project - Paya Lebar Quarter - which will feature a retail mall, three office towers and three private residential blocks.

Lendlease said the development will transform the Paya Lebar area into a "vibrant, pedestrian-friendly city precinct".

There will be over 200 stores and entertainment options across the seven-storey mall, with about 30 per cent of the tenants being food and beverage operators.

Lendlease said the first two anchor tenants to sign up at Paya Lebar Quarter are supermart NTUC Fairprice Finest, which will occupy 22,000 sq ft of space, and foodcourt Kopitiam, which will take up 15,000 sq ft of space.

The development will also have about one million sq ft of Grade A office space across three 13- to 14-storey blocks, which will be home to some 10,000 workers.

Lendlease said it is in talks with large multinational corporations for the leasing of office space at the project.

The office and retail components of the development are expected to be completed in the second half of 2018.

Meanwhile, the residential component - the 429-unit Park Place Residences - will be completed only in the first half of 2019.

The developer said it intends to launch the apartments for sale in the first half of next year.

The residential project will comprise a mix of one- to three-bedroom units.

Paya Lebar Quarter has a total gross floor area of about 1.8 million sq ft.

About 100,000 sq ft at the development have been set aside as public spaces, and will include cycling path and lush greenery.

A consortium comprising Lendlease and Abu Dhabi Investment Authority (ADIA) won the tender for the 99-year leasehold site Paya Lebar Central last year with a S$1.67 billion bid.

18/10/2016

New private home sales up 8.8% in Sept

Source: Straits Times | Business

Sales of new private homes climbed to 509 units last month despite a dearth of fresh project launches by developers.

The monthly total was a jump of 8.8 per cent from the 468 units in August, which traditionally sees slower market activity owing to the Hungry Ghost Festival.

Year on year, new home sales were up 49.3 per cent from the 341 new homes sold in September last year, Urban Redevelopment Authority data showed yesterday.

Still September's volume was the fourth-lowest monthly figure this year, and markedly lower than the bumper 1,092 new units sold in July.

Market watchers expect sales to pick up this month and the next as more buyers return to the market.

They said fence-sitters had been nudged towards buying a home by factors such as a strong belief that property cooling measures are unlikely to be eased any time soon.

"Buyers have also been encouraged by the low interest-rate environment... The expectation that rates will likely increase should nudge more buyers to action," said Mr Desmond Sim, head of CBRE Research for Singapore and South- east Asia.

Sales last month were led by 297 units sold on the city fringe, followed by 144 units in the suburbs and 68 units in the core central region.

The top-selling private residential projects last month included Lake Grande in Jurong, which sold 29 units at a median price of $1,312 per sq ft; The Trilinq in Clementi, which sold 28 units at a median $1,405 psf; and 23 units at Kingsford Waterbay in Upper Serangoon, with a median $1,202 psf.

Last month, developers launched 479 new private homes for sale, with about 44 per cent of the units from MCL Land's Lake Grande.

Consultancy JLL said the release of new units in existing projects may be due to an expected pick-up in sales in the coming months.

Recent launches Forest Woods and The Alps Residences, whose sales will be captured only in October's data, have attracted positive response from buyers when they were put on the market.

With two more new projects, Parc Riviera and Queens Peak, set to be offered for sale next month, PropNex Realty said new private home sales could cross 1,000 units per month in October and next month.

A total of 5,883 new private homes have been sold in the first nine months of the year.

"It is estimated 7,500 to 8,200 private residential units would be sold by developers in 2016, exceeding the 7,440 units sold last year," said JLL national director of research and consultancy Ong Teck Hui.

Mr Nicholas Mak, executive director at SLP International Property Consultants, said: "The demand for private housing is reaching the stage of stabilisation after reeling from the 'regulatory shock' experienced in 2013 to 2015."

URA said 260 new executive condominium (EC) units were sold last month, down about 21.5 per cent from August. No new EC units were launched in September.

18/10/2016

Paya Lebar Quarter set to transform area

Source: Straits Times | Business

Tantalising new details have been unveiled about the massive $3.2 billion mixed development that will transform the area right next to Paya Lebar MRT station.

The mega project, Paya Lebar Quarter, comprising office space, shops and private housing, will be spread across seven buildings on land the size of eight football fields.

Developer Lendlease yesterday disclosed details of the project's vast retail mall, three office towers and three residential blocks.

The urban-regeneration project, to be connected to Paya Lebar MRT interchange station, will transform the area into a "vibrant, pedestrian-friendly city precinct", it said.

Paya Lebar Quarter has a total gross floor area (GFA) of about 1.8 million sq ft. The office blocks will account for about 55 per cent.

$3.2B
Cost of the mixed development that will transform the area next to Paya Lebar MRT station.
10K
Number of workers the office blocks, which account for about 55 per cent of the total gross floor area , will house.
The one million sq ft of Grade A office space will be spread across two 14-storey towers and one 13-storey tower, offering large floor plates for major clients seeking extensive office space. Lendlease said it is in talks with large multinationals for leasing that space, which will eventually house about 10,000 workers.

Despite the weak economic outlook, Lendlease is optimistic about leasing activity and interest in Paya Lebar Quarter. "I think it will be highly sought after because of the fundamentals," said Mr Richard Paine, managing director of Paya Lebar Quarter at Lendlease.

"Has it got good connection to public transport, is it centrally located, is it near schools... does it have a workforce nearby that might lease the property? It just ticks all these boxes," he added.

The project is being developed on two plots spanning 3.9ha. One plot will house a retail mall and two office blocks, while the three condo blocks and another office building will sit on the other plot.

The 340,000 sq ft retail mall will feature about 200 stores and cinemas over seven floors. About 30 per cent of the tenants are expected to be food and beverage operators.

Lendlease announced the first two anchor tenants yesterday: supermart NTUC FairPrice Finest, to occupy over 22,000 sq ft, and foodcourt Kopitiam, with 15,000 sq ft.

It is Lendlease's fourth mall here, after Jem in Jurong, 313@Somerset in Orchard Road and Parkway Parade in the East Coast area.

The office and retail elements are expected to be completed in the second half of 2018. The 429-unit Park Place Residences, comprising one- to three-bedroom units, will be completed in the first half of 2019.

It will be Lendlease's first residential development here.

The developer plans to launch the apartments for sale in the first half of next year, but declined to disclose further details. The residential blocks will have 17 storeys, including four floors of carpark.

Lendlease said it does not think "selling and demand will be an issue" for the private housing units.

"We are bullish in regard to the fact that there haven't been too many launches in this area," said Mr Paine, adding that Park Place Residences will largely be marketed to Singaporeans.

Cushman & Wakefield research director Christine Li estimates that the average selling price could be "above $1,400 psf, with small units touching $1,500 psf", while International Property Advisor chief executive Ku Swee Yong puts it at around $1,500 to $1,700 psf.

About 100,000 sq ft has been set aside as public space, with a cycling path incorporated in the development. Lendlease will also introduce what it calls "end-of-trip facilities", featuring parking spaces for bicycles and personal mobility devices, as well as lockers, changing room and shower facilities.

A consortium comprising Lendlease and Abu Dhabi Investment Authority won the tender for the 99-year leasehold site in Paya Lebar Central last year with a $1.67 billion bid (about $943 psf per plot ratio).

14/10/2016

Condo and HDB rents continue to fall in September

Source: Straits Times

Rentals and leasing volumes for both private condominiums and public housing flats kept sliding last month, reflecting concerns over the weaker economic outlook.

Private condominium rents fell 0.6 per cent in September from August, the third straight month of decline, according to data from SRX Property yesterday. Rents were down 4.6 per cent from September last year.

Rentals for HDB flats slipped 0.3 per cent month on month in September, after falling 0.8 per cent from July to August. SRX said HDB rents were 4.5 per cent down from a year earlier.

"The numbers are not surprising. It shows that the malaise that is affecting the economy seems quite broad-based, hitting the HDB segment too... I expect continued weakness in the leasing market," said Mr Alan Cheong, research head at Savills Singapore.

The decline in condo rents was led by the core central region, with rents dipping 1.8 per cent, followed by a 0.3 per cent drop in rents for suburban condos.

Rentals for homes on the city fringe held up, however, rising by 0.2 per cent last month.

"City fringe properties have a strong hold and see resilient interest at large from tenants... especially senior foreign professionals who like living in niche localities with affordable rentals," said R'ST Research director Ong Kah Seng.

Despite the weaker rents, the number of leases signed for private apartments fell 14.2 per cent to an estimated 3,716 last month, from 4,329 units in August.

However, this figure was 8.5 per cent higher than the 3,426 apartments rented in September 2015.

"We anticipate rents to stabilise in late 2017, with the number of completions slowing," said Dr Lee Nai Jia, head of South-east Asia research at property consultancy Edmund Tie & Co.

"We forecast rents to fall by another 5 per cent before it reaches its trough."

In the HDB segment, rental volume declined 11.3 per cent to an estimated 1,491 flats, from 1,680 in August. Year on year, HDB leasing volume fell by 14.4 per cent last month.

SRX said HDB rents weakened across the board with drops of 0.7 per cent for three-room flats, 0.1 per cent for four-room units, 0.4 per cent for five-roomers and 0.8 per cent for executive flats.

Mr Ong said: "There are increased suburban condominium completions since 2014 and more HDB flats are being put up for subletting, so this has exerted a downward rental pressure for HDB flats."

13/10/2016

Condo resale prices continue to slide

Source: Straits Times: Business

Hopes that the resale property market may have finally hit bottom have been undermined by the latest transaction data.

They show that private apartment resale prices fell again last month - the third consecutive month of decline - alongside a slip in the number of sales.

Prices of resale private condominium units dipped 0.9 per cent from August, SRX Property said yesterday. It added that last month's reading of 163.6 on its resale price index was the lowest since the index hit 162.3 in July 2012.

Condo resale prices were 1.5 per cent below their level in September last year. Analysts told The Straits Times that the dour growth prospects in the economy have weighed on the resale market.

"The weak rental market and poor economic outlook could have contributed to the continued poor performance of the resale index. The weak rental market will continue to put pressure on the resale market," noted Mr Wong Xian Yang, head of research and consultancy at OrangeTee.

The decline in prices from July to last month followed four consecutive months of marginal price increase from March to June.

Mr Nicholas Mak, research head at SLP International Property Consultants, said: "There seems to be more bad news about jobs these days. That will influence whether people buy real estate... I don't think the resale market has bottomed out, and it probably won't in the next six months."

An estimated 683 condo units were resold last month, down 17.7 per cent compared with the 830 units transacted in August.

However, sales were up by 45.9 per cent over the corresponding period a year ago, when just 468 units were resold.

September's decline in resale condo prices was led by suburban areas, with values falling 1.5 per cent from August.

"The notable price fall showed that cautious buying sentiments and leasing headwinds do persist for suburban resale units due to the substantial number of private condos which have been completed since 2014," said R'ST Research director Ong Kah Seng.

Prices dipped 1.3 per cent in the city fringe, while those of resale homes in the core central region bucked the trend, rising 0.6 per cent last month over August.

To close the deal, sellers last month went a median $10,000 below the estimated market value of their property.

SRX's median transaction over X-value (TOX), which measures whether buyers are overpaying or underpaying its computer-generated market value, came in at negative $10,000 last month, compared with the negative $11,000 in August.

Analysts believe sellers are still willing to negotiate on prices in order to move units, in the light of the weak leasing market and fragile economy.

"Given the dim economic outlook and the number of expected completions in 2017, the tenant's market may possibly last till 2017," Mr Wong added.

13/10/2016

Rents for private homes, HDB flats continued to slide in September: SRX Property

Source: Straits Times | Business

SINGAPORE - Rents for non-landed private homes and HDB flats continued their slide in September, slipping by 0.6 per cent and 0.3 per cent respectively from August, according to flash estimates released by SRX Property on Wednesday (Oct 12).

The rents for condominiums and private apartments softened by 1.8 per cent in the prime districts and 0.3 per cent in the outlying districts. But the city fringes saw rents edge up by 0.2 per cent after dipping 0.5 per cent in August.

Year-on-year, rents last month were down 4.6 per cent from September 2015, and 17.6 per cent off their peak in January 2013, SRX Property said.

There was also a 14.2 per cent drop in the number of condo and apartment leasings. According to SRX Property, an estimated 3,716 units were rented last month from 4,329 units in August.

Year-on-year, rental volume last month was 8.5 per cent higher than the 3,426 units rented in September 2015.

The HDB rental market also cooled with an 11.3 per cent fall in the number of flats rented out last month to 1,491 from 1,680 in August. Year-on-year, HDB rental volume in September fell by 14.4 per cent from September 2015.

HDB rental prices weakened across the board with three-room, four-room, five-room and executive flats seeing declines of 0.7 per cent, 0.1 per cent, 0.4 per cent and 0.8 per cent respectively.

Year-on-year, rents in September were down by 4.5 per cent from a year ago, and 10.8 per cent off their peak in August 2013.

13/10/2016

Flat first before a child, say nearly 93% of Singaporeans in Straits Times online poll

Source: Straits Times

SINGAPORE - Flat first, then baby.

That appears to be the view of most readers who responded to a Straits Times online poll on Wednesday (Oct12).

Of the 14,000 responses garnered so far, close to 93 per cent voted in favour of owning a flat first before thinking about starting a family.

Senior Minister of State Josephine Teo, in an interview with The Straits Times on marriage and parenthood issues, noted that the Singaporean love story differed from that of Western countries.

"In our case, man meets woman, man falls in love with woman, man proposes to woman, they then plan the wedding and do the house," noted Mrs Teo, who oversees the National Population and Talent Division.

Responding to a question on whether young people are not getting their flats early enough to have children, she said: "You need to have a very small space to have s*x."

Her candid response triggered an avalanche of comments on social media about the difficulties of family planning without the security of a roof over their heads.

Facebook user Jensen Lu stressed the importance of having a "space of your belonging" to raise a child comfortably.

Another, Geetha Subramaniam, related her own experiences of giving birth to two children as she lived with her parents while waiting for her Build-To-Order (BTO) flat to be ready.

"As much as it was great having my family to help out, it was also very difficult. Space was a major constraint and apart from post-natal stress, there were many issues due to difference in opinions."

She concluded: "Yes, you do not need a big space to have s*x. But you do need an adequate space to raise a child."

RELATED STORY
You don't need much space to have s*x: Josephine Teo on ‘no flat, no child’ belief

One user suggested that Mrs Teo had missed the point of couples preferring to secure a flat first.

"To have a house before a child is correct. Is she encouraging young couples to have young babies and continue to depend on their parents?" asked Jo-ann Tan.

Some, however, agreed with Mrs Teo that couples could still have a baby first and shared their personal experiences.

Said Facebook user Jelissa Mei: "To be honest, we had our first kid when living with my in-laws. We had our second one when we were staying with my parents. It was only when we lived in our own flat that we had the third one.

"The point is, if you really want to have children, it doesn't matter if you have your own flat or not."

Singapore's total fertility rate (TFR) stood at 1.24 in 2015, slightly down from 1.25 the year before. The replacement TFR - which is when a population can replace itself - is 2.1.

The Government has been looking for ways to encourage Singaporeans to have children, including rolling out measures to help couples who are waiting for their flats.

One such initiative is the Parenthood Provisional Housing Scheme which provides rental flats to first-timer married couples who are waiting for their new flats to be completed.

Since its launch in 2013, nearly 230 babies have been born to couples who benefited from the scheme, Mrs Teo said in an update in January this year.

Going forward, young couples will be able to move into their new homes quicker, as the Government aims to shorten the wait for public housing by bringing forward construction and building ahead of BTO launches.

When implemented, the move will see the waiting period for BTO flats dip to two to three years, from the current three to four years, National Development Minister Lawrence Wong said in an interview last week.

There will also be more support networks to help young parents. For instance, the Government hopes to increase the number of childcare spots from the current one for every two children, to two for every three.

10/10/2016

Shorter wait for BTO flats on the horizon: Lawrence Wong

Source: Straits Times

Young couples will soon be able to move into their new homes quicker, as the Government is looking to shorten the wait for public housing.

When implemented, the move will see the waiting period for Build-To-Order (BTO) flats dip to two to three years, from the current three to four years, said National Development Minister Lawrence Wong last week.

He was speaking to The Straits Times and Lianhe Zaobao in his first sit-down interview since taking over the portfolio a year ago.

Referring to young couples who are buying flats for the first time, Mr Wong said: "We would like to see how we can help them settle down and get their flat faster."

He noted that some couples who urgently need their own flat currently opt for provisional housing or balance flats not sold in previous launches. Such balance flats are closer to completion, but are subject to balloting as well. "The demand for moving in is always there, that's why balance flats are always more popular... People want to move in as soon as possible," he said.

Ultimate Division DWG

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