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Archive for July 1st, 2008

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Livia at Pasir Ris Grove

Posted by luxuryasiahome on July 1, 2008

Livia

Located just off Pasir Ris Drive 1, Livia is within walking distance to the Pasir Ris MRT Station and highly accessible via the TPE, PIE and EXP.

A Private gate at the Action Zone leads to the Sungei Api Api Park Connector and Pasir Ris Park. An Array of exciting shopping and entertainment amenities inclucing White Sands, Tampines Mall, Ikea, Courts, Giant Hypermarket and Downtown East with E! hub and Theme Park.

Surrounded by many prestigious schools including Park View Primary School, Pasir Ris Primary School and Hai Sing Catholic School.

A unique development with a clean modern design, the apartments are oriented in the North-South direction, which enhances natural ventilation, allowing the cool breeze into your home.

With its sprawling, well-positioned blocks, Livia is designed to create a sense of lightness and space.

With its excellent design and well-planned spaces, delight in full-height windows and quality designer kitchen appliances like the Electrolux cooker hob, hood and built-in oven. Take pleasure in having a stylish bathroom with Hansgrohe shower fitts and a luxurious long bath.

Every living room and master bedroom at Livia offers an innovative lighting dimmer system to help conserve energy and create the perfect ambience. Also come complete with energy saving air-conditioning inverter systems.

Description: 10 Blocks of 15/16 Storey of Residential Apartments with basement carpark (744 lots inclusive of 10 handicapped lots), swimming pool & communal facilities

Location: Pasir Ris Grove
Tenure: 99 years leasehold
Expected Completion: 31 December 2011
Land Size: 447,192 sqft
Total Units: 724

Unit Types:
2 Bdrm – approx. 882~1119 sqft (30 units)
2 Bdrm + Study – approx. 914~1151 sqft (94 units)
3 Bdrm – approx. 1258~1603 sqft (180 units)
3 Bdrm + Study – approx. 1323~1743 sqft (240 units)
4 Bdrm – approx. 1538~1926 sqft (168 units)
Penthouse – approx. 2421~2593 sqft (12 units)

Facilities:
a) Aqua Zone (Wi-Fi enabled):
Landscape Feature Pond
Leisure Pool
Sun Deck
Spa Alcoves
50 m Lap Pool
Pool Cabanas
Aqua Gym
Pool Lounge
Lounge Deck
Fun Pool
Wading Pool

b) Action Zone:
Basketball Half-Court
Xtreme Swing
Net Cell
Netscape
Rocky Climb
Hexagon Loop & Rope
Tree House – Overlooks the scenic Sungei Api Api

c) Garden Zone:
Floral Courts – Heliconia, Lily, Alpinia, Iris, Hibiscus Courts
Landscape Gardens
Fern Garden
Fragrance Garden
Bamboo Garden
Garden Cabanas
Lawn
Viewing Terrace

d) Leisure Zone:
Fitness & Wellness Stations
BBQ Pavilion
Children’s Play Area
Tennis Courts
900 m Jogging Path
Gymnasium
Clubhouse (Wi-Fi Enabled Spots)
Function Room
Entertainment Room
Changing Rooms With Sauna
Function Plaza

Contact us at info@lushhomemedia.com or +65 9631 8037 with the following for more information:

Livia / Name / Contact # / Unit Type Interested

Posted in For Sale, General, New Launches | Tagged: , , , , , , , , | 20 Comments »

URA flash estimates show private home prices up 0.4% in Q2

Posted by luxuryasiahome on July 1, 2008

Private residential property prices rose 0.4 per cent in the second quarter of this year, according to flash estimates released by the Urban Redevelopment Authority (URA) on Tuesday.

The rise followed a 3.7 per cent increase in the first quarter.

Prices of non-landed private residential properties increased by 0.2 per cent in the Core Central Region, 0.7 per cent in the Rest of Central Region and 1.3 per cent Outside Central Region in the second quarter of the year.

In comparison, for the first quarter of 2008, prices of non-landed private residential properties increased by 3.8 per cent in the Core Central Region, 3.3 per cent in the Rest of Central Region and 3.8 per cent Outside Central Region.

Analysts noted that the softening prices contributed to a pick up in sales towards the end of the second quarter in some attractively located and reasonably-priced projects launched.

Ms Margaret Thean, DTZ’s Executive Director for Residential, said: “This is clearly indicated by the sell-out status of projects such as Suites 123, while Nassim Park, Parc Sophia, Dakota Residences and Clover by the Park received encouraging response.”

However, with the uncertain economic outlook and high inflation, developers are holding off on launches, while homebuyers look for bigger discounts.

DTZ expects further price corrections in private residential properties going forward.

On the supply side, as at first quarter of 2008, there were about 67,700 private residential units in the pipeline, of which about 56,500 new private housing units are expected to be completed between 2008 and 2011.

About 42,700 units of the supply in the pipeline (or 63 per cent) have not been sold by developers yet.

URA’s flash estimate is based on data for the first 10 weeks of the quarter. The price index for the full quarter will be issued later this month.

Source : Channel NewsAsia – 1 Jul 2008

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HDB resale flat prices up an estimated 4.4% in Q2

Posted by luxuryasiahome on July 1, 2008

Prices of HDB resale flats rose 4.4 per cent in the three months to June over the previous quarter, according to the Housing and Development Board’s flash estimate.

Straits Vista @ Marsiling

This was slightly higher than the 3.7 per cent increase in the first quarter.

In the first half of the year, HDB has launched a total of 4,524 new flats.

Subject to demand, HDB plans to offer about 3,900 new flats under the Build-To-Order (BTO) system over the next 6 months in various towns.

The total planned BTO supply of 8,400 new flats this year will surpass the BTO supply in 2007.

This will be in addition to flats offered under the Balloting Exercise for surplus replacement flats under the Selective En bloc Redevelopment Scheme, and the other exercises for sale of balance flats from previous offers. – CNA/yb

Source : Channel NewsAsia – 1 Jul 2008

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S’pore private home prices little changed in Q2

Posted by luxuryasiahome on July 1, 2008

Singapore private home prices registered a third straight quarter of slower grow, rising just 0.4 per cent between April and June, in a further sign that a four-year boom in the republic’s housing market has peaked.

Private home prices rose 3.7 per cent in the first quarter of 2008, after soaring 31 per cent in 2007 amid a housing boom fuelled partly by strong growth in the Singapore economy

The rise in the index was the smallest since the middle of 2004, underlining a fall in home sales as slowing economic growth and rising inflation dampen confidence in the real estate market.

‘It’s starting to turn into a buyers’ market, as developers hold off on launches while homebuyers look for bigger discounts,’ said Nicholas Mak, research head at property consultants Knight Frank in Singapore.

The Urban Redevelopment Authority (URA) said on Tuesday that early estimates showed its price index for private residential properties rose to an unadjusted 177.9 points for the three months ended June from 177.2 at the end of March.

The 0.4 per cent increase marks a sharp slowdown from a rise in the index of 3.7 per cent in the first quarter of the year.

However, from a year earlier, the index was still up 20.4 per cent. House prices jumped 31 per cent in 2007.

The slowing housing market puts further pressure on developers such as CapitaLand , Keppel Land and City Developments , already been hit by a fall in private home sales to a five-year low in the first quarter.

Sales improved, however, in April and May as some developers cut prices.

The weakening property sector is a risk for local banks, which rely on building, construction and home loans for about 45 per cent of lending, data from the Monetary Authority of Singapore shows.

Price increases for the mainly high-end homes within the core central region of the island saw the greatest moderation as foreign investors, who make up about half of the buyers in the segment, sought safer investments in other markets, Mr Mak said.

But demand from Singaporeans for cheaper housing continued to be relatively strong during the April-June period.

In a separate release, the government said resale prices for government-built flats, home to over 80 per cent of Singaporeans, gained an estimated 4.4 per cent in the April-June period, compared with a 3.7 per cent rise in the first quarter.

The advance estimates are compiled from transaction prices lodged during the first 10 weeks of the quarter as well as data from new apartments that have been booked. The URA will release the official price index in four weeks. — REUTERS

Source : Business Times – 1 Jul 2008

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Central, prime condo take-up rates outpace other areas

Posted by luxuryasiahome on July 1, 2008

Softer H1 prices in these areas cited, pointing to strong latent demand: JLL

Softening condo and private apartment prices in the first six months of this year in the prime and central districts – the latter of which covers the financial district, Harbourfront area and Sentosa Cove – have been accompanied by a push in demand in these locations.

This, according to a study by Jones Lang LaSalle, has been reflected in the higher primary market take-up rates for properties in these locations.

‘This suggests the presence of a strong latent market where potential buyers are waiting at the sidelines, eagerly buying up properties when the price is right,’ Jones Lang LaSalle’s head of research (Southeast Asia) Chua Yang Liang says.

JLL measured the take-up rate as the ratio of the number of non-landed private homes sold by developers to such homes launched by developers. It then compared these take-up rates against the average resale prices in four locations on the island – prime (districts 9, 10 and 11), central (districts 1-4), east coast (15 and 16) and mass market (all other districts).

The prime and central districts achieved relatively higher take-up rates of 87 per cent and 250 per cent respectively during H1 2008 compared with take-up rates of 67 per cent for east coast and 66 per cent for mass-market during the same period.

The prime and central districts also saw weaker price movement. The average resale price for prime districts in H1 2008 was 12 per cent higher than in H1 2007 but down 3 per cent from the figure for full-year 2007. In the central districts, the H1 2008 average resale price represented an improvement of 9 per cent year-on-year but was flat against the full-year 2007 figure.

In the east coast, the H1 2008 average resale price raced 20 per cent ahead against a year ago while mass-market locations topped the chart with a 25 per cent year-on-year price gain.

‘The conservative attitude of buyers coupled with cautious outlook by developers will continue to moderate market performance in terms of take-up rates. Buyers are generally sensitive and cautious about prices.

‘Developers are more likely to discount prices to maintain the demand, either through direct discounts of between 5 and 10 per cent on selling prices as we’re already seeing, or absorption of other costs like stamp duty and furnishing vouchers,’ Dr Chua reckons.

JLL’s study also showed that amidst the overall quieter market the number of non-landed private homes bought by those living in HDB flats as well as those with private addresses fell in the first five months of this year.

However, there was an increase in HDB upgraders’ share of total non-landed private homes bought (in both primary and secondary markets) during the first five months of this year in all locations.

This was the case even in the prime districts, where buyers with HDB addresses made up 16 per cent share of total private apartments/condos bought in January to May 2008. This was higher than a 10 per cent share for the whole of last year in this location.

Most of the HDB upgraders who bought a prime district property in the first five months of 2008 picked up a unit in District 9, mainly at new project launches like Wilkie 80 and Mount Sophia Suites, according to JLL.

HDB upgraders accounted for 33 per cent of non-landed homes sold in the east coast in the first five months of 2008, up significantly from a 21 per cent share in full-year 2007.

In the mass-market districts – the traditional haunt of upgraders buying private property – their share was 39 per cent in Jan-May 2008, up from 32 per cent in 2007. In the central districts, the upgrader share edged up from 16 per cent last year to 19 per cent in the first five months.

‘Although prices in 2007 have moved past the average-income buyers’ affordability, the current softer prices as well as stronger economic performance in 2007 have provided the impetus for many HDB upgraders in all locations,’ Dr Chua notes.

‘As HDB resale flat prices are likely to remain strong given limited supply, upgraders who benefit from the gain in the resale market are likely to enter into the private market. We reckon the percentage of upgraders is likely to grow by year-end if developers and sellers keep prices at realistic levels,’ he added.

Source : Business Times – 1 Jul 2008

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Singapore’s real estate transparency ranking dips

Posted by luxuryasiahome on July 1, 2008

JLL cites enhanced survey questions for slide from 9th to 11th position

SINGAPORE and Hong Kong now rank side by side in 11th position on Jones Lang LaSalle’s (JLL) Global Real Estate Transparency Index 2008, down from joint ninth position when the index was last revealed in 2006.

However, JLL said the reason is not a change in market practices but enhancement of the survey questions.

The company’s head of research (South East Asia) Chua Yang Liang said: ‘Singapore remains one of the most transparent markets in Asia alongside Hong Kong. Among the five key attributes assessed in the survey – performance measurement, market fundamentals, listed vehicles, legal and regulatory environment, transaction process – both countries scored very well for their legal and regulatory environment. Together with Finland, they topped the global ranking for this sub-index.’

JLL said that in keeping with historical results, the Australian and US real estate markets remain among the most transparent in the world and now are joint-ranked second. But with the addition of new variables relating to the quality and frequency of valuations, service charge transparency and financing transparency, Canada now ranks as the world’s most transparent commercial real estate market.

The index, which provides a framework for comparing the level of real estate transparency in 82 markets around the world, revealed that eight countries moved up a full transparency tier since the last index in 2006.

Dubai, Romania, Ukraine and Russia showed the biggest improvements in transparency over the past two years.

A number of countries in the frontier markets are included in the index for the first time, with Belarus, Sudan, Algeria, Cambodia and Syria all scored as ‘opaque’.

Other new entrants to the index, Bahrain, Bulgaria, Estonia, Latvia, Croatia, Abu Dhabi and Lithuania, scored in the ’semi-transparent’ range, while Oman, Qatar, Morocco, Kuwait, Pakistan and Kazakhstan all scored in the ‘low transparency’ range.

The biggest improvers in Asia-Pacific were India, China and Vietnam. China (Tier-1 cities) showed the greatest improvement, moving up to the ’semi-transparent’ tier to rank in 49th position.

Not all investors, however, target markets that are highly transparent.

LaSalle Investment Management global strategist Jacques Gordon said: ‘Many cross-border investors focus on more mature, open and transparent real estate markets such as the UK, Canada, Netherlands and Hong Kong. However, opportunistic investors will consider the emerging, less mature, less open and semi-transparent markets, but will require higher returns to compensate for the higher risks associated with lower transparency.’

Source : Business Times – 01 Jul 2008

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Is Gallery Hotel on the market?

Posted by luxuryasiahome on July 1, 2008

THE Gallery Hotel in the River Valley area – the first ‘funky’ hotel in Singapore when it opened in 2000 – could go on the market soon, sources say.

BT understands that the hotel’s owner has been talking to several parties with a view to appointing an agent to market the property.

But when contacted by BT, the chief executive of The Gallery Hotel Pte Ltd Ted Ngo said: ‘At this moment, as far as I am concerned, there is no plan to sell Gallery Hotel or to appoint a marketing agent.’

The Gallery Hotel Pte Ltd, which manages the 223-room freehold hotel, is a fully-owned subsidiary of Robertson Quay Investment Pte Ltd (RQI) which owns the property.

Mr Ngo is also a director of RQI and his family is the company’s controlling shareholder. Other RQI shareholders include the Ang and Lim families.

Industry observers polled by BT estimated a wide range of prices for the property at Robertson Quay – from around $450,000 to $900,000 per room. This translates to an absolute price range of about $100 million to $200 million.

Mr Ngo said that the hotel’s average room rate so far this year is above $200, an improvement from almost $180 achieved last year, which was higher than the 2006 rate of close to $150.

He did not deny that there has been interest in the hotel.

‘I have been getting unsolicited enquiries from all sorts of people since the passing away of my father (Ngo Kheng Hoon) in September 2006,’ he said. ‘I presume someone must be very keen to acquire our property and he is very persistent.

‘Speaking on a personal basis, I don’t see any reason why Gallery Hotel should be on the market. We are doing very well. Singapore is a hot spot for tourism. Our shareholders are getting fantastically good returns compared to just a few years ago. It is hard to get similar returns from other sources these days.’

The property was originally known as Gallery Evason Hotel when it opened in September 2000 but the Evason name was dropped in January 2002 when Six Senses Hotels, Resorts and Spas, owner of the Evason brand and manager the hotel, dropped out.

A property consultant said: ‘There is scope to add value to the property by refurbishing and repositioning it, which would create some upside for an investor. Because the hotel can be sold without an ongoing management contract, the asset may be more appealing to potential investors, who will be free to manage the hotel themselves or appoint an established hotel chain to operate it for them.’

Source : Business Times – 01 Jul 2008

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Is Gallery Hotel on the market?

Posted by luxuryasiahome on July 1, 2008

THE Gallery Hotel in the River Valley area – the first ‘funky’ hotel in Singapore when it opened in 2000 – could go on the market soon, sources say.

BT understands that the hotel’s owner has been talking to several parties with a view to appointing an agent to market the property.

But when contacted by BT, the chief executive of The Gallery Hotel Pte Ltd Ted Ngo said: ‘At this moment, as far as I am concerned, there is no plan to sell Gallery Hotel or to appoint a marketing agent.’

The Gallery Hotel Pte Ltd, which manages the 223-room freehold hotel, is a fully-owned subsidiary of Robertson Quay Investment Pte Ltd (RQI) which owns the property.

Mr Ngo is also a director of RQI and his family is the company’s controlling shareholder. Other RQI shareholders include the Ang and Lim families.

Industry observers polled by BT estimated a wide range of prices for the property at Robertson Quay – from around $450,000 to $900,000 per room. This translates to an absolute price range of about $100 million to $200 million.

Mr Ngo said that the hotel’s average room rate so far this year is above $200, an improvement from almost $180 achieved last year, which was higher than the 2006 rate of close to $150.

He did not deny that there has been interest in the hotel.

‘I have been getting unsolicited enquiries from all sorts of people since the passing away of my father (Ngo Kheng Hoon) in September 2006,’ he said. ‘I presume someone must be very keen to acquire our property and he is very persistent.

‘Speaking on a personal basis, I don’t see any reason why Gallery Hotel should be on the market. We are doing very well. Singapore is a hot spot for tourism. Our shareholders are getting fantastically good returns compared to just a few years ago. It is hard to get similar returns from other sources these days.’

The property was originally known as Gallery Evason Hotel when it opened in September 2000 but the Evason name was dropped in January 2002 when Six Senses Hotels, Resorts and Spas, owner of the Evason brand and manager the hotel, dropped out.

A property consultant said: ‘There is scope to add value to the property by refurbishing and repositioning it, which would create some upside for an investor. Because the hotel can be sold without an ongoing management contract, the asset may be more appealing to potential investors, who will be free to manage the hotel themselves or appoint an established hotel chain to operate it for them.’

Source : Business Times – 01 Jul 2008

Posted in General, Hotel | Tagged: , , | Leave a Comment »

Is Gallery Hotel on the market?

Posted by luxuryasiahome on July 1, 2008

THE Gallery Hotel in the River Valley area – the first ‘funky’ hotel in Singapore when it opened in 2000 – could go on the market soon, sources say.

BT understands that the hotel’s owner has been talking to several parties with a view to appointing an agent to market the property.

But when contacted by BT, the chief executive of The Gallery Hotel Pte Ltd Ted Ngo said: ‘At this moment, as far as I am concerned, there is no plan to sell Gallery Hotel or to appoint a marketing agent.’

The Gallery Hotel Pte Ltd, which manages the 223-room freehold hotel, is a fully-owned subsidiary of Robertson Quay Investment Pte Ltd (RQI) which owns the property.

Mr Ngo is also a director of RQI and his family is the company’s controlling shareholder. Other RQI shareholders include the Ang and Lim families.

Industry observers polled by BT estimated a wide range of prices for the property at Robertson Quay – from around $450,000 to $900,000 per room. This translates to an absolute price range of about $100 million to $200 million.

Mr Ngo said that the hotel’s average room rate so far this year is above $200, an improvement from almost $180 achieved last year, which was higher than the 2006 rate of close to $150.

He did not deny that there has been interest in the hotel.

‘I have been getting unsolicited enquiries from all sorts of people since the passing away of my father (Ngo Kheng Hoon) in September 2006,’ he said. ‘I presume someone must be very keen to acquire our property and he is very persistent.

‘Speaking on a personal basis, I don’t see any reason why Gallery Hotel should be on the market. We are doing very well. Singapore is a hot spot for tourism. Our shareholders are getting fantastically good returns compared to just a few years ago. It is hard to get similar returns from other sources these days.’

The property was originally known as Gallery Evason Hotel when it opened in September 2000 but the Evason name was dropped in January 2002 when Six Senses Hotels, Resorts and Spas, owner of the Evason brand and manager the hotel, dropped out.

A property consultant said: ‘There is scope to add value to the property by refurbishing and repositioning it, which would create some upside for an investor. Because the hotel can be sold without an ongoing management contract, the asset may be more appealing to potential investors, who will be free to manage the hotel themselves or appoint an established hotel chain to operate it for them.’

Source : Business Times – 01 Jul 2008

Posted in General, Hotel | Tagged: , , | Leave a Comment »

Potential lies in building townships

Posted by luxuryasiahome on July 1, 2008

KepLand’s projects across the region will yield 54,500 housing units

TOWNSHIP developments in the region can offer large business potential. Tapping into this is Keppel Land, which currently has about 1,300 hectares of such projects across China, Vietnam, Indonesia and Malaysia. These developments are slated to yield 54,500 residential units on completion, and have been launched or planned for launch.

Phase one of a 34-hectare township development in Shenyang, China could be next in line for release in 2009.

According to Keppel Land International’s executive director and chief executive officer Ang Wee Gee, the property developer continues to actively pursue deals in Shenyang. ‘We might be able to announce some interesting deals in the near future,’ he said.

Mr Ang observed that residential prices in Shenyang have increased by an average of 10 to 15 per cent per annum over the last several years and the trend is likely to continue. This is a healthy growth rate because it is driven less by speculation, and more by demand for homes for occupation, he pointed out.

What of the outlook for property developments in Vietnam? Some analysts have been bearish over falling sale prices and expect developers to delay launches. Keppel Land currently has 431 hectares of township developments which have been launched or planned for launch in Vietnam.

Mr Ang said Keppel Land’s deals are ‘above water’ – it acquired seven sites in Vietnam last year on projections of lower selling prices before the property market peaked. ‘If these projects are presented to us today, we will still proceed to acquire them,’ he said.

Mr Ang also said that Keppel Land’s property launches in Vietnam will proceed according to plan.

He believes fundamentals remain strong in growing economies such as Vietnam and China, and factors such as rapid economic growth and urbanisation will continue to boost demand for housing.

There may be short-term market fluctuations but ‘we want to build our presence and that entails a longer term strategy,’ said Mr Ang.

Keppel Land shares closed at $4.96 yesterday, down 7 cents or 1.4 per cent.

Source : Business Times – 01 Jul 2008

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