Meadows @ Peirce Launching Soon

meadows @ pierce artiste impression — benson koh - meadows @ pierce

Knight Frank is proud to be one of the official marketing agent for this lush-greenery massive project in Upper Thomson Road.

Project Details of Meadows @ Peirce (District 26)

Location: Former Green Meadows (101 – 119 Tangore Avenue)
– Full Condo Facilities
– Landsize is a massive 461,004 sqft
– Tenure is Freehold
– Developer is UOL
– Expected TOP would be 30 September 2012
– Total of units is 479 (1 block of 14 storey, 3 blocks of 5 storey)
– Types of units available:-

1-Bedroom 517 sqft (4 units)
1+1 Bedroom 635 sqft (48 units)
2-Bedroom 915 sqft – 1195 sqft (86 units)
3-Bedroom 1184 sqft – 1518 sqft (147 units)
3-Bedroom (Tower Block) 1195 sqft (48 units)
4-Bedroom 1625 sqft – 2077 sqft (74 units)
5-Bedroom 2497 sqft – 2680 sqft (15 units)
Ground Mansionette 2659 sqft – 2702 sqft (8 units)
Penthouse 2045 sqft- 3068 sqft (49 units)

This project offers lush and spectacular views of 360-degrees pure greenery. If you love nature (I know I do), this will be a quality product coming from UOL not to be missed.

Preview invites are coming soon so do register your interest with your favorite Knight Frank agent to get possible first hand information. Oh you don’t have one? You can register your interest with me (+65 9125 3045) too

Singapore Snaps Out of Technical Recession, New Homes Up 9.4% in June.

With Singapore climbs out of technical recession with 20.4 growth percent in Q2 this 2009, the government has also raised its growth forecast for the months to come. With much credits to the government and her people, Singapore is the first Asean country to move out of a technical recession.

Will we continue to fair much better? It seems there’s still much life in our daily lives, trades and walks of live in our own country hasn’t been much affected by claims of the worst recession in years, no doubt we’re in good hands.

Primary New Home Sales Up 9.4% in June

1,825 homes were sold in June, tiding over the figures of May by 9.4%

The fuel mostly came from 8@Woodleigh in Potong Pasir which attributes to 330 units of the sale. The median price sold was at $804 psf. Other residential projects which added the numbers were Martin Place Residence, Nathan Residences, One Devonshire and Vista Residences.

Foreign Investors Back?

Foreign buyers are slowly creeping back into the country as the high-end luxury segment seems to be moving as well. Two units were sold recently at Nassim Park Residences by its developer at above $3,000 per square foot (psf), one of them at $3,813 psf.

In the sub-sale market, a caveat has surfaced for a 37th floor unit at The Orchard Residences at about $3,550 psf last month.

Caveats have also been lodged for transactions of three units at The Ardmore Park at $2,375-$2,513 psf, and for a sub-sale deal at Marina Bay Residences at $2,200 psf in June.

A Possible Start of Another Bubble?

With Singapore snapping out of technical recession in the second quarter, observers said this may inject more confidence in the property sector.

The figures are definitely going to be affected from end of August to mid September onwards because of Chinese Hungry Ghost Festival (20th August – 18th September), but should the momentum continue to swing forward after the period, it could possibly be a strong rally.

First En Bloc Attempt in 2009 – Dragon Mansion

En-bloc uh oh, credits to Ang Morh, Flickr

The first attempted enbloc is finally happening with the surge of market movement lately in property riding on the possible surge and better sentiments in the property market.

The 16 year old 72-unit freehold Dragon Mansion (District 2) on Spottiswoode Park Road has crossed the consent figure of 80% to proceed with the en bloc sale.

Dragon Mansion has a designated residential land area of 41,874 sqft with a plot ratio of 2.8 and can potentially yield a maximum gross floor area (GFA) of 111,700sqft. CKS Property is the marketing agent for the en bloc sale.

High Asking Price?

The asking price for the en bloc is at $1,020 per square foot per plot ratio (psf ppr) which totals the possible development charge to be around $400,000. The asking price set is based on ‘limited availability of such freehold residential land near the central business district’.

Will it go? It’s hard to tell since the price tagged is really steep at the moment as property watcher noted that UOL in the property peak times (2007) has paid for Oakwoods Height which was just nearby at 740 psf ppr.

Again, we should probably see new en bloc attempts coming up again if primary sales market continue to move as developers will be looking for new supply of their land bank.