Seems like suburban condos are pretty popular with homebuyers, given their close proximity to their parents’ or in laws’ places. Two of the latest condos in the suburbs are selling well. Hop in to check on their prices!
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The Archipelago has got to be the coolest suburban condo development yet. It literally sits on the Bedok Reservoir, and you’ll get a breath-taking view of the reservoir at dawn and dusk. What’s more, you’ll get plenty of fresh air when you’re there! This will be hot, hot, hot!
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There have been some transactions in the high-end condominium segment in district 10.
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With the last bit of the North-South Expressway (NSE) announced, it has brought good news and bad news to some. Many will have to put up with the pollution from 2013 till 2020. Some will even have to move house for good. What will happen to those properties affected and how will it affect prices? Let’s take a look.
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Did your fengshui master say you have to live near water? The Archipelago is your answer then! This new condo by UOL and Singapore Land sits right beside the scenic and peaceful Bedok Reservoir. So the views of the water should be quite good right? Oh no no no my friends.
Singapore transport officials announced train line extensions sure to delight commuters and Singapore condo owners alike. The transit agency responsible for trains bisecting the country announced extensions to the Circle Line, with stations at Bayfront and Marina Bay. The extensions will increase access to downtown, decreasing commutes and raising new property values in the process.
Transit minister Lui Tuck Yew announced this at the groundbreaking ceremony for Downtown Line 3 (DTL 3), promising that the new extension stations would be open January 14th.
The Circle Line extensions are set to serve as connectors, bringing the Circle Line into the new Downtown Line ecosystem. The DTL 3, a massive public works project that has been in the works since 2009, will add 16 stations for commuters in the east to shuttle easily, to and from, the Central Business District. The complete line is set to open in 2017, further extending the downtown footprint and helping increase Singapore property development. When complete, the line is estimated to improve commute times for eastern residents up to 60 percent.
With trains running at seven-minute intervals, commuters will have plenty of chances to catch a train. The Bayfront station is expected to improve traffic to the nearby Marina Bay Sands Integrated Resort and Gardens by the Bay, with five entrances linking to the facility.
The transit minister’s office expects ridership to improve dramatically with the new extension stations, ramping up excitement for the DTL 3 opening. The ministry will continue to add stations as they go to create a more interconnected transit system, as studies have shown commitment to light rail improves Singapore property, business and condo values.
“We expect ridership to grow gradually to about 400,000 in six to nine months time, as more commuters experience the convenience and connectivity the entire Circle Line brings to our rail network,” Lui said in a statement.
Recent studies have shown Singapore leading the world in a number of key industries, including data storage and the production of microchips and cell phone parts. The Singapore stock exchange has seen average rises over the last six months and the housing market is stronger than ever, especially among foreign workers traveling to the country for a new job and buying Singapore condos to match.
Now Singapore is making inroads in another growing industry: green technology. The Singapore Business Federation (SBF) signed three agreements at a conference last Monday to give Singapore businesses and industries better access to expertise, financing opportunities and global networking on clean-tech and green business initiatives. Combined with a healthy tech sector and robust political arena, Singapore properties are expected to continue selling as well or better than ever.
Consulting group Rikvin recently released a report saying the proportion of mainland Chinese buying residential property in Singapore increased by 3% in the fourth quarter of 2010, pushing the proportion of Chinese buyers in the market to a new high of 19%, up from 15% in 2009. And a report from HSBC Bank voted Singapore the best destination for expatriated workers from the US and the UK.
Including new condos and executive condos, September sales hit 2,064 units. This is the highest monthly volume this year and a strong 26 per cent jump from August’s 1,638 units, according to PropNex Realty. If the business sectors in Singapore continue their improvement, analysts predict Singapore condo and home sales will continue their unprecedented rise.
The 999-year leasehold Riviera 38 will have a range of unit sizes, strating from 452sqft for a one-bedroom apartment to 1,980sqft for a penthouse with three-bedrooms and a private swimming pool.
Here’s the third and final part of the cover story published in this week’s THEEDGE SINGAPORE.
Bite-sized deals dominate
So far this year, developers seem to favour the lower- to upper-middle tier of the residential segment, with a ballpark figure of $200 million. “All the deals that have taken place this year have been below $200 million,” says Credo’s Singh.
Collective sale hopefuls
Racing against time - As more 99-year leasehold condo approach the 30-year mark, owners are increasingly looking at collective sale. The question is timing, given developers’weak appetite for lareg sites and the release of a slew of government land sites.
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