New upcoming Development: Forest Woods Condo

Forest Woods is a brand new development of apartment and condominium houses that’s being developed in the Upper Serangoon region of Singapore.

Estimated to be about 500 units when whole, the Forest Woods Condominium will supply residences for different sized families. Residents will have access to an onsite fitness center, meeting rooms, tennis courts, parkland and other family action regions. The Forestwood are designed to be a walkable place. Grocery stores, shopping centers and public transportation are close to the project. Equally, however, the Forestwood houses are fairly reachable for automobile owners, with their location near a major highway. Forest Woods residents can indulge in fitness center which are accessible for the owners to use along with many of the facilities including swimming pool. Additionally, there’s a tennis court available. Residents may also run their indoor functions in the function rooms accessible.

Forestwoods CDL – Upper Serangoon Condominium

Serangoon is among the residential towns of Singapore. Settled originally by Indian traders, the region was known for its gardens. For a time, the region was also home to cows sheds for this business. Still called Little India, the place is currently a mixed residential area. Nevertheless, Sri Veeramakaliamman Temple, a leading Indian temple, over a thousand years old, was remodeled and rededicated and is held in high regard by Singapore. Additionally, there are plenty of schools accessible such as St Gabriel’ and Nanyang Junior College s Secondary School which is in the region. Schools that are highly sought such as Maris Stella High School and Paya Lebar Methodist Girl’s School are in the region.

Singapore property now less appealing to people

Singapore’s recognition with property buyers has dropped though considered a secure industry.

As a property investment destination for institutional shareholders has declined in 2013, in comparison to developed Asia Pacific locations, particularly Singapore’s appeal.

This decrease in reputation has been attributed to the house cooling actions, and the flood in-office and logistics house amid consumer message that was softer, said UBS in a report by The Sturdee Residences Straits Times.

Infact, house costs, along with the volume of loans and property offers, if the chilling methods had not been released could have been greater by around 33 percent, said the central bank.

Nonetheless, some investors still see Singapore as being an industry that is secure, and there’s been no exodus of property buyers, accordingto UBS Property Management’s Brain of Global Real Estate for Asia Pacific, Graham Mackie.

Inbound investment to Singapore surged 157 percent 3.4 billion in 2015 on a yearly basis, predicated on knowledge from Real Capital Analytics. But that is still a far cry from the outbound capital people$28.7 million, which submitted a progress of 49 percent.

Meanwhile, additional money has been pumped into Australia and Japan’s property groups, in comparison to those in Singapore, Hongkong and China. Real estate yields in Australia can also be dramatically better compared to the risk-free costs on the market.

“Australia can be a relatively successful marketplace with strong concept of law. Traders that are more swayed by currency factors discover Australia as comparatively cheaper, and the Australian dollar has depreciated dramatically against the US dollar,” added Mackie.

Rochor Centre to be demolished shortly

The four bright coloured housing blocks will be demolished to make way for a new expressway.

A public housing estate in the Bugis place dating back to the 1970s, Rochor Centre, will soon be demolished by the conclusion of the year to make way for the newest North-South Expressway, reported The Straits Times.

Constructed in 1977, it consists of four bright coloured HDB blocks that originally housed 567 families and 183 shops. But Parc Riviera due to the imminent redevelopment, 106 stores have closed while 36 families have relocated as of January 2016.

Nevertheless, many long time residents are saddened about being forced to move out of Rochor Centre.

“It reminds me of the kampong that I grew up in when I had been little.”

Moving to a different home is debilitating as they have developed excellent relationships with their neighbours, included Devan, who’s affectionately called ‘orh hia’ (black brother) by neighbours and shopkeepers in the estate.

In accordance with Member of Parliament for Jalan Besar GRC, Denise Phua, which comprises Bugis, life will never be the same for the residents, but they could look forward to more greenery along with a tranquil surroundings compared to that in Rochor that is busy.

The Housing Board revealed that 91 percent of the residents in Rochor Centre will move to HDB flats at nearby Kallang Trivista. Of this, 15 percent opted to relocate to units close to their relatives or former neighbours in Rochor Centre.

Rochor Centre is just one of three historical public housing estates that may shortly be torn down for redevelopment. The others are Dakota Crescent and four low rise HDB blocks in Siglap, that were built in 1958 and 1964 .

S P Setia Berhad – Business Overview

S P Setia Berhad is recognised as Malaysia’s top listed real estate player with a proven history of innovation-driven and standard-setting developments. The strength of the Group lies in its prowess in creating meaningful environments based on its development philosophy of Live Learn Work Play.

The developer has constructed a solid base in Malaysia offering an extensive product range including eco refuges, townships, high-end residences, business parks, commercial and retail developments.

Incorporated in 1974, S P Setia started out as a construction company and was listed on the Kuala Lumpur Stock Exchange (now Bursa Malaysia) in 1993. To property development it refocused its core company in 1996 with supporting companies in construction, infrastructure and wood -based production.

Award-winning Developer

S P Setia is the only Malaysian developer to be recognised six times from the International Real Estate Federation (FIABCI) for three Greatest Master Plan Developments, one Best Residential (Low-Rise) Development, a Specialised Endeavor (Purpose Built) and a Greatest Retail Development award. The Group has garnered eight FIABCI Malaysia Property Awards.

S P Setia’s product and service quality is recognised by the industry and attested by its No.1 position in The Edge Malaysia Top Property Developers Awards which it won for the 8th time in 2013. This feat has not been achieved by any other developer since the beginning of the awards.

A Growing International Presence

Within the last seven years, the Group has spread its wings to Vietnam, Singapore, Australia and more recently the United Kingdom.

S P Setia’s foray overseas commenced in 2007 when Vietnam’s top state-owned conglomerate, Becamex IDC Corp, picked S P Setia as its joint venture partner to start its 558-acre, USD880 million GDV township project, known as EcoLakes at My Phuoc. Following this success, the Group has also found a mixed development project called Eco Xuan at Lai Thieu in Tuan A District, Binh Doung Province.

In Singapore, S P Setia established an office in 2009 and two years later, the Group acquired a 29,440 sq ft site to develop a high-rise condominium called 18 Woodsville. The successful launching of this project spurred the developer to get another parcel of land for the high-end high rise project of Eco Sanctuary.

Fulton Lane’s successful start spurred S P Setia to look at more opportunities in Melbourne as well as the Group acquired another piece of land, this time on the upmarket St Kilda Road, also in the City of Melbourne for its Parque project.

In April 2012, S P Setia was invited by the Malaysian Government to direct the Malaysian association formed to jointly develop the China-Malaysia Qinzhou Industrial Park (QIP). In September S P Setia obtained Battersea Power Station jointly with Sime Darby and the Employees Provident Fund by way of a joint venture consortium.

Driving the Malaysian Property Sector

S P Setia appreciates a strong presence in the state of Selangor, Malaysia through its main projects, the 2,525-acre Setia acre – Alam and 791 Setia Eco Park. In town of Kuala Lumpur, the developer has built three high-end projects which are Setiahills, Duta Tropika and Duta Nusantara.

Leveraging on the strong demand for commercial and investment grade properties, S P Setia has also expanded into the commercial sector with projects like SetiaWalk, the Group’s first maiden retail mall project, Setia Avenue called the forthcoming KL Eco City along with Setia City Mall. The futuristic KL Eco City using its focus on sustainable development will function as a nexus of KL Eco City commercial residential and recreational interests for the estimated six million inhabitants of Selangor and Kuala Lumpur.

S P Setia is also well established in the state of Penang, Johor and Sabah, three other key economic regions in Malaysia.

Are property costs affected by petroleum prices?

The costs of oil and property might not be connected, but property costs could be still affected by the economic effect of dropping oil prices.

Petroleum costs are constantly in the headlines. While other states have seen costs of oil and fuel -based products go down, costs in Singapore remain high. Alfred Chia describes how property prices and petroleum prices are linked.

Dropping oil prices have really been for the past six months in the news, and property prices will also be on the decline. Is there a link between the two?

Before petroleum prices can be understood by us, we should first comprehend how they can be calculated. In general, when we talk about oil prices, we are referring to the prices of Brent crude, a specific grade of oil extracted from the North Sea. Brent crude can be used to cost about two-thirds of the world’s internationally traded crude oil supplies. At time of writing, Brent crude is about USD 41.20 per barrel.

Figure 1 and global home costs compare Brent oil prices. Worldwide home prices are based on the Global Housing Price Index by the International Monetary Fund (IMF), which will be an aggregate of actual (i.e., inflation adjusted) house prices across countries.

At first, there appears to be little correlation between those two asset groups. As there clearly was an entire world-wide economic boom which pushed up costs of all asset classes, including bonds, equities and commodities from 2005 to 2007, both assets appreciated.

Yet, alongside the worldwide ecoomy, oil prices recovered from 2009 onwards before plunging due to production outpacing global demand. Worldwide property prices failed to follow the oil price trend, showing little correlation between these two asset categories.

On an international level at least, we do not see a correlation between housing costs and oil prices.

However, oil price movements have been more volatile, particularly since June 2014, when it started to plunge dramatically.

Though it is on a downwards trend, uRA’s price index remains comparatively constant. Just like home costs that are international, there seems to be little correlation between Singapore property costs along with the costs of petroleum.

However, while oil prices will not be Gem Residences strongly correlated with property costs, it’s an essential commodity that paints a picture of the global market, and may have an indirect influence on housing costs. Brent crude oil costs have dropped from a high of USD115.19 per barrel on 19 June 2014, to a low of USD26.01 per barrel on 20 January 2016. This translates to a 77 percent drop in Brent crude costs over a period of 20 months.

The most discussed reason for this radical fall is overcapacity and overproduction because the beginning of 2014. Nevertheless, apart from supply side reasons, international demand for this particular commodity also affects prices. The need for petroleum decreases and areas downward pressure on prices. Given both supply- and demand-side pressures on the prices of petroleum, it’s no wonder that costs have dropped as sharply and quickly as they’ve, placing budgetary pressures on economies that rely strongly on income from oil production.

Now, with all the world facing a global economy slow down, especially in China, the International Energy Agency (IEA) has forecasted that global need for oil will drop in 2016. In the short run, low oil prices will place pressures on the oil and gas (O&G) sector, and associated businesses. This may adversely affect the banks which have high exposures to this sector. Additionally, it is likely that volatility in commodities markets and the equities will persist.

It is more likely that property costs will be adversely affected by a worldwide economic slow down in Singapore. With banking and O&G already hit and companies laying off staff, property buyers might be more reluctant to enter the marketplace, especially if job security is a concern.

As the cost of production has dropped, to the overall economy, low petroleum costs is a huge boost in the long run. This may lead another period of growth. Consequently, low petroleum prices might not be the basis for gloom and doom that many news reports mention.

While cooling measures seem to have negatively affected the property market, they are required to ensure that the marketplace continues to be sustainable, and will not overheat. Nevertheless, having an imminent international economic slowdown, it keeps steady increase, and is necessary to maintain a detailed watch available on the market, to be sure it isn’t too adversely hit.

With various indicators indicating a heavy thunderstorm on your way, and lowered prices in Singapore, property owners should review their financial situation. As a top priority, when they’re able to refinance to a more stable interest rate package, to manage their interest costs, property owners should review their loan packages and see.

Moreover, property owners also need to make sure their properties can be afforded by them. For those people who are facing fiscal pressures, they might need to think about biting the bullet and downgrading. However, property owners that are fiscally fit can consider taking advantage of lowered costs, and contemplate rearranging their property portfolios, or updating.

Singapore is world’s 5th most significant property marketplace: Savills

Singapore houses have recorded capital increase of 105% over the previous 10 years.

The report noted the positions are predicated on a city’s international connectedness, ability, economical operation and competitiveness.

“We’ve joined (their study results) that appear to best get the characteristics that make cities strong and significant property marketplaces for both occupiers and investors,” said Savills. New Launch Toa Payoh : Gem Residences , Gem Residences Condo

Worldwide, the very best area was clinched by London, followed by Tokyo, Paris and New York. Hong Kong took sixth position, followed by Sydney and Los Angeles. Finishing the top ten are Dubai and Chicago.

“Our city rating evaluation emphasizes two things: first, that rent amounts and growth are dependent on cities reaching – and then keeping or growing – their competitive advantage against other global cities.

Dubai and Singapore are increasing, while Hong Kong and Moscow have moved down the ranks,” noted Savills.

Moreover, Singapore recorded the greatest residential capital increase of 105 percent since Savills started collecting such data a decade past.

London and Sydney took the fifth and fourth places at 121 percent and 137 percent .