Posted by luxuryasiahome on November 24, 2009
Caveats lodged for ECs in October 2009 show prices at $519 psf, says CBRE
THE median resale prices of executive condominiums (ECs) have increased 63 per cent in the past two years, riding on the bull run in the private residential market, a report says.
Caveats lodged for ECs in the resale market in October 2009 showed prices at $519 per sq ft (psf), says CB Richard Ellis (CBRE). This is 63 per cent higher than at the bottom of the market in Q3 2006, when resale ECs were sold at $319 psf.
CBRE’s analysis of caveats lodged between 2004 and early 2007 shows median EC prices in the resale market fluctuated within the $300-400 psf band, bottoming out at $319 psf in Q3 2006.
ECs are a hybrid of private and public housing. They are similar to private condominiums in terms of facilities and amenities, but eligibility requirements are almost similar to those for new HDB flats.
The EC was first introduced in 1996 when the property bull run caused new private condo prices to soar to above $600 psf.
The last EC launched was La Casa in May 2005. It was completed in early 2008. Since then no new EC projects have been launched. Since the second half of 2007, when the private residential market was peaking again, the government has placed up to four EC sites on the reserve list, but there have been no takers.
But in the recently announced government land sales programme for the first half of 2010, the government placed two EC sites on the confirmed list and three others on the reserve list, which is ‘a clear signal that the government wants to provide the EC as an alternative housing choice for homebuyers from next year’, says CBRE.
Currently, a 14 per cent price gap exists between the median prices of ECs and mass-market non-landed projects in the resale market, CBRE says.
‘Our analysis shows that buyers who bought new ECs at various periods from 1996 when EC prices hovered at around $400 psf should benefit from the price appreciation in the past two years,’ said Li Hiaw Ho, executive director of CBRE Research. ‘The residential market run-up of 2007 lifted new EC prices to above the $500 psf mark.’
Going forward, CBRE says that if the price gap between the next new EC project and a new private non-landed leasehold project in the same location is attractive enough, buyer demand for EC developments will surely return. The firms expects the tender bids for the two EC sites to be offered in January 2010 on the confirmed list – Buangkok Drive/ Compassvale Bow and Yishun Avenue 11 – will be a function of developers’ confidence in the EC market and their pricing strategy.
Source : Business Times – 24 Nov 2009
Showing posts with label Singapore Condo. Show all posts
Showing posts with label Singapore Condo. Show all posts
Tuesday, November 24, 2009
Sunday, November 22, 2009
Canal works start next year
HOME > BREAKING NEWS > SINGAPORE > STORY
Nov 22, 2009
Canal works start next year
By Mavis Toh
Aside from expediting the canal works, Mr De Souza will also look into getting private buildings in the area to enhance flood-resistance measures in their basement carparks. -- ST PHOTO: SHAHRIYA YAHAYA
THE Member of Parliament overseeing Bukit Timah has assured residents that national water agency PUB will act fast to widen and deepen a diversion canal to prevent a repeat of last Thursday's flood.
Works on the canal leading from the main Bukit Timah canal will begin in the third quarter of next year, said Mr Christopher de Souza, who is on the Holland-Bukit Timah GRC team of MPs.
The 3km canal stretching from Sixth Avenue to Sungei Ulu Pandan burst its banks on Thursday, when Bukit Timah was drenched by 92mm of rain. Flood waters were knee-high in some places.
Aside from expediting the canal works, Mr De Souza will also look into getting private buildings in the area to enhance flood-resistance measures in their basement carparks.
'We'll work with PUB to encourage the management to build physical crests to prevent water from flowing into the carparks,' he said.
The underground carparks in three buildings in the area - two condominiums and the 6th Avenue Centre - were flooded last Thursday, running up huge repair bills for several cars.
Tessarina condominium in Bukit Timah
Nov 22, 2009
Floods damaged cars
Residents look to new measures after floods last Thursday damaged vehicles and cut power
By Shuli Sudderuddin
'It seemed that there was nothing I could do, so I didn't rush home. Besides, it is the company car, so I checked with the finance department and found that it is comprehensively insured.'
MR LIANG, whose wife called him at work saying his Ferrari was submerged in the basement carpark
The flash floods that hit Bukit Timah Road on Thursday damaged vehicles and cause traffic congestion. -- ST PHOTO: KEVIN LIM
MR KEVIN Liang's brand-new Ferrari can usually go from zero to 100kmh in four seconds.
As of last Thursday, it could not even crawl on its own power.
Just 11/2 months old and costing more than $650,000, the F430
Coupe supercar was among the 100 vehicles submerged in the 500-space basement carpark at Tessarina condominium in Bukit Timah, as a result of a sudden flash flood that afternoon.
Mr Liang, 47, a resident, received a call from his wife about his car's fate while he was at work.
He said: 'It seemed that there was nothing I could do, so I didn't rush home. Besides, it is the company car, so I checked with the finance department and found that it is comprehensively insured.'
Read the full story in The Sunday Times.
Thursday, September 24, 2009
Saturday, July 11, 2009
Condo Photo Review: Costa Del Sol
Condo Photo Review: Costa Del Sol
Costa Del Sol, a 99yr Leasehold mass market condominium found in District 16 along the Bayshore Road stretch is named after a scenic sea side residency in southern Spain. The Costa Del Sol in Spain is most well known for its white buildings that sit along the hill side facing the shore:
Costa Del Sol in Southern Spain (Image: Wikipedia)
The condominium has two semi circular rows of blocks designed to give most if not all of units a full or at least partial seaview. When it was completed in around 2003, Costa Del Sol blocked the sea views of many units from The Bayshore. Costa Del Sol's location beside the ECP expressway gives it quick access to the city and especially Changi Airport which is barely 5 minutes drive away. Public transport would be in the form of bus, as the closest MRT station is about 1.7km away.
Across the ECP expressway lay great gastronomical delights in the form of a numerous seafood restaurents lining the beach and a large hawker centre - both which are almost always crowded.
Here are some photos which we took when visiting the estate:
The main pool of Costa Del Sol - almost a full Olympic sized pool with proper lanes.
Diving pools with proper springboards, something which we have not seen elsewhere yet.
The estate is covered with water features like these for kids to splash about in.
A more leisuirely splash pool for the kids.
The same wading pool from another angle. Note how some "first floor" units start up high.
The gymnasium overlooks the splash pool.
An event hall which overlooks the courtyard and splash pools.
More pools for the kids. The bridge over the pool looks somewhat akward and could have been bbetter designed to fit the theme.
Water features and benches along the pathways.
Bayshore Park can be seen in the distance behind the tennis courts.
Playground for the kids to burn all that sugar in their bloodstream.
Ladies and gentlemen, I present to you the world's most deadly street basketball court.
A faily large putting green...which has been converted by a few prams into a playpen.
We are guessing this is a driving range for golfers.
The condominium offers its very own shops just like other older mass market cousins found along the east coast.
Well...a foot reflexology path is no big deal, however we would like to point out the sizeable lawn behind.
We couldnt figure out what a "pet corner" was for...
Outdoor fitness stations...although we really wonder who really uses these anyway.
Plenty of BBQ pits to go around...although it doesnt look like there is plenty of seating space.
Basement carpark is featured in this condominium for residents.
Parting shot of the condominium.
Location details of Costa Del Sol. Do drop your comments here!
Posted on 12-07-2009 02:10 | By Francis
Tuesday, July 7, 2009
Condo Photo Review: Icon
The Icon with a total of 646 units and 46 floors stand out as the darling of District 2. Smack right in the middle of the CBD, this condominium is popular with high flying expats that are new to Singapore according to some of the agents we spoke to. Apparently, it is considered a "safe" choice as most new expats will have their culture shock cushioned by the luxurious and expat friendly surroundings within the walls of this high-end condominium.Below the condominium are retail shops and restaurants catering to the tastes of most expats, and just 200m away is Tanjong Pagar MRT station - if the expat ever needs to leave the self-sufficient walls of Icon. Shenton Way, where all the prime office space is located can be found just down the road.
When we visited the Icon, it was indeed true that it is very popular with expats. Perhaps everyone we saw spoke with a foreign accent. We enjoyed the sunshine of the outdoor deck on level 7, while the loft units in particular gave exhilarating views of the city.
Check out our tour of the high end condominium.
The Icon, has many retail shops and restaurants targeting the expat market below. 
The large pool to serve 646 units.
Jacuzzi and tanning pools to spoil tenants.
Although there were plenty of deck chairs, it seemed there wasn't enough to go around as many residents were hanging out on the pool deck.
BBQ pit overlooking the city.
Another BBQ pit. We liked how they are apart from each other.
The third BBQ pit, located closer to the building but with a larger bench and seats. 
Two tennis courts.
Playground for the kids, but we noted most facilities were geared towards the adults.
A typical lobby in Icon
Some soul to the endless corridors of the 46 storey Icon.
Possibly the most lux Ironing boards we have ever seen on the right...
Laundry machines to do the laundry - obviously a boon for landlords who do not want the additional cost of buying and maintaining a washer and dryer. Also great for those who want to save space in their homes.
Overlooking the CBD area.
Carparks were available on the first few storeys of the building, and this is the fantastic looking lobby that greats residents immediately.
An inspiring shot of Icon.
A parting shot - restaurants and retail can be seen on the ground floor.More information about Icon.
Posted on 08-05-2009 11:57 | By Francis
Condo Photo Review: The Pearl at Mount Faber
Perched on a hill, the blue windows seemed to fit in perfectly with the lush surroundings.
Being located at one of Singapore's highest point makes The Pearl at Mount Faber a prominent 99yr lease condo in the tiny but high profile District 4. In the same district and at the doorstep of Sentosa Island it also likely received a boost due to the Sentosa Island property boom.
Having just received its Temporary Occupation Permit just 4 years ago, our expectations were high when making our way to the condominium.
We were not disappointed. The condo stood out with one of the most private and serene environments we have seen. A single road leads uphill to the Pearl at Mount Faber that is perched on the side of a forested hill. With few other residential buildings nearby, privacy and quiet is what one would expect.
A long pool for the adults. 
Water featuers line the estate.
Some tables and chairs for good R&R
A good amount of stairs in the estate, due to the sites hilly nature.
A badminton court and half basket ball court for the active.
A sizeable gym with an assortment of cardio machines and assisted weight machines.
Playground to keep the kids busy.
One of the two BBQ areas. 
Multi-purpose room for events perhaps.
Reading room and suana.
We really liked how the estate was so lush, even amidst the BBQ pits.
More areas to chill out...
Basement parking for residents.
Surely a sign of a well manicured estate.
The stairwell environment.
Parting Shot of The Pearl at Mount Faber.Details of The Pearl at Mount Faber.
Posted on 11-05-2009 16:01 | By Francis
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