Although the first quarter of 2014 saw an increase in sales due to popular launches, prices have gradually been dropping. Some new developments have re-launched at reduced rates (Sky Habitat at Bishan by as much as 15 percent), and more resale properties have sold below valuation.
In the next six months, high-end condos coming onto the market include New Futura on Leonie Hill Road, Robin Residences on Robin Road, Gramercy Park on Grange Road and Pollen and Bleu on Farrer Drive. Highline Residences and The Crest will add to the city’s fringe, and the Commonwealth Towers (CDL) launched in May to much interest.
Despite this, it can still be a frustrating search for resale buyers if the seller’s next purchase needs to cover the restrictive TDSR (Total Debt Servicing Ratio) and ABSD (Additional Buyers Stamp Duty). With sales volumes remaining low, one hears the market is “tepid”, “cool” or “mild”, but as one industry pundit recently put it, to much laughter, “Cooling measures? It’s positively freezing.”
The good news is that Singapore’s stability, strong economy, small land area and growing population keeps it popular with investors who are watchfully waiting for prices to further correct.
Predictions include an increase in smaller and more affordable units; larger, high-end units struggling; and sales volumes in 2014 being as much as 30 percent lower than 2013 while rents continue to fall.
For more on the best areas to live, see our neighbourhood round-up here, plus lots of specific area guides by expat residents here.
Check out Expat Realtor’s selection of hot properties below – with all the photos appearing in the gallery above. For more properties, head here, and for viewings, email firstname.lastname@example.org or call 6255 1027.
KATONG KOOL: Malvern Springs
Entertainers’ delight! Currently owner-occupied, this penthouse unit with a beautiful roof terrace has been carefully and lovingly renovated, with high-ceiling windows creating a modern, bright feel. There are three good-sized bedrooms, an open lounge-dining area and a separate kitchen. The boutique-style low-rise condo offers handy facilities in a kid-friendly atmosphere, including a water playground, resort pools, and gym. Shopping malls 112 Katong and Parkway Parade are nearby, while Eunos MRT is 15 minutes away. Close to international schools and to East Coast Park Beach for outdoor fun and exercise. See the images in the gallery above.
Size: 2,000 sq. ft. (approx.)
PATIO PERFECTION: Savannah CondoPark
This idyllic ground-floor patio unit has been perfectly renovated by its owner-occupiers to ensure all needs are met, with ample storage, a perfect entertaining ambience, good-sized rooms, and the ideal corner garden patio (approximately 500 sq. ft). The condo is great for families, with facilities including a bowling alley; it’s also hugely convenient – Simei MRT is a five-minute shuttle bus way, and the airport, Changi Business Park, One World International School and UWC South East Asia are all close by. Nearby shopping malls include Eastpoint Mall, Changi City Point and Tampines. See the images in the gallery above.
Size: 1,770 sq. ft. (approx.)
CONNECTION CONVENIENCE: Arcadia Gardens
Be the first to rent this exquisitely renovated top-end apartment in one of Singapore’s most popular condos. The photos speak for themselves; this four-bedroom unit has been tweaked to three bedrooms with great space and flexibility created as a result. A magnificent quiet-facing balcony is the perfect spot for dining outdoors and enjoying the greenery. The property is close to the PIE, Orchard Road, and international schools, and there’s also a shuttle bus on weekdays from nearby Hillcrest Arcadia. Full facilities include tennis, squash and basketball courts, a gym, a clubhouse and a children’s playground. See the images in the gallery above.
RENT: $11.5K (negotiable)
Size: 3,750 sq. ft. (approx.)
LUXURY & LOCATION: Barker Road
This well appointed semi-D is one of only six luxury homes in a boutique cluster house development, and enjoys the preferred location of being set back for extra privacy. With private pool access from the garden/patio area, the house provides the full tick-list of space, with five ample-sized rooms, four with ensuite, two parking lots, wet and dry kitchens, a yard/laundry area, a family area and also a private lift. This luxury development is well fitted and includes solar water heating and an alarm system. Convenient and prime location close to Newton MRT, a choice of bus services, eateries at Balmoral Plaza and more. Easy access to town, CBD and major expressways. See the images in the gallery above.
Size: 5,210 sq. ft. (approx.)
Type: Cluster House
SIGLAP SERENITY: 22 Siglap
Great family home set in a quiet cul-de-sac with well-maintained garden at the front and patio with room to park a car. Although not a large house, all of the rooms are a really decent size and the bedrooms are huge with plenty of wardrobe and storage space. There is a family/office area on the third level, with two bedrooms on each floor. Located just off Still Road and close to Marine Parade Road, the property allows easy access to the ECP and East Coast Park, shops, restaurants and more. It’s a 15-minute drive to the CBD, and 10 minutes to Changi Business Park. See the images in the gallery above.
RENT: $7,2K (negotiable)
Size: 2,600 sq. ft. (approx.)
SUPERBLY SPACIOUS: Jalan Kampong Chantek
With its sense of the grandeur and luxury of old Singapore, this home offers extra-large everything: bedrooms, lounge/dining area, kitchens – wet and dry, rolling lawn to the left and back of the house, plenty of patio areas. The current tenant has installed a swimming pool; you can negotiate to have it kept or not. The house is about a 10-minute walk to Bukit Timah/Dunearn Road and 15 minutes the other way to the British and Swiss Clubs. The location is perfect for easy access to town, the PIE, or international schools. See the images in the gallery above.
RENT: $12K (negotiable)
Size: 4,000 sq. ft. (approx.)
Type: Detached Bungalow
NONGSA NOSTALGIA: Ngongsa
Situated on the north-eastern tip of Indonesia’s Batam Island, just 30 minutes by boat from Singapore, this idyllic resort village is set on over 10 hectares of lush and untouched tropical jungle. Rustic yet with modern fittings, these villas are hugely popular with expats working and also holidaying at Batam. This particular villa is set on the hillside overlooking the sea with unblocked view and a simple walk to the beachfront. The two-storey property has been modified by its French owner to incorporate an extra three bedrooms on the ground floor, creating a great family bungalow of six bedrooms. The open-plan kitchen/dining/living/patio areas ensure fabulous views at all times and great entertaining. Residents can use the resort pool and gym, or the facilities at adjacent Turi Beach Resort, Nongsa Point Marina and Resort and Tamarin Santana Golf Club. For sale or rent as owners are relocating overseas. See the images in the gallery above.
SALE/RENT: Price on application
Size: Over 3,000 sq. ft.
Type: Detached Villa
District: OVERSEAS PROPERTY