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17 April 2015 - SPH news Strata Landed Homes Values Rise Fastest

Strata landed homes’ values ‘rise fastest’

A new report has come up with some surprising findings on price gains in the various types of properties in the rarefied landed housing market in Singapore.

For instance, freehold non-strata houses – those with individual land titles – may be the most commonly sold type of landed housing, but they are not the fastest to appreciate in value.

The report released yesterday by SLP International found that during the market boom from the first half of 2004 to the first half of 2008, values of freehold cluster homes, or strata landed homes, rose faster than the other three landed property types.

They are freehold non-strata landed, 99-year leasehold strata landed and 99-year leasehold non-strata landed homes.

In the subsequent market boom, from the first half of 2009 to the second half of 2013, capital values rose the fastest for 99-year leasehold strata landed homes, the report found.

Over both market booms, freehold non-strata landed homes came in second in terms of the speed of price appreciation.

The price gap between strata and non-strata terraced homes was analysed according to their respective land tenure groups.

The median transacted prices of strata terraced houses were generally higher than those of non-strata terraced houses on an absolute value basis.

This could be because many cluster homes appear to have more floors, said Mr Nicholas Mak, SLP International executive director. “Some of the newer ones may have a basement, level one to three, and even an attic.”

Also, cluster housing projects are led by developers, which would look for ways to maximise prices per unit, he added.

Homes with individual land titles may be built by individuals.

Over the past 11 years, the median prices of 99-year leasehold cluster homes were on average $329,205 more than those of non-strata landed houses with the same tenure.

The median prices of freehold cluster houses were on average $110,147 more than those of freehold non-strata landed homes.

Among 99-year leasehold terraced homes, median prices of strata homes were consistently higher those of than non-strata ones.

The price gap between the two widened to about $1.5 million in the second half of 2007 due to the launch of the 163-unit Hillcrest Villa in Bukit Timah, but this gap later narrowed.

Among freehold terraced homes, the price gap was reversed in 2011 and 2012.

This could have been due to the relatively lower proportion of subsale transactions for strata terraced homes, said Mr Mak.

Median prices of subsale transactions are typically higher than those of other types of sales, including new sales and resales.

In the first market boom, the median price of freehold cluster homes rose at an annualised 15.4 per cent, or a whopping 77.3 per cent over the four years – the fastest among the four landed home segments, the report found.

For example, a terraced home in freehold cluster housing project Casa Fidelio in Siglap sold at $760,000 in 2004. It was resold at $1.18 million in 2008, or a 55 per cent gross profit.

But the group with the slowest price growth during the four-year period was 99-year leasehold non-strata landed homes, at a 7.7 per cent per annum price growth.

“(This) is partly due to the relatively high median price of $435 psf at the start of the market boom,” Mr Mak said.

In the second market boom, the median price of 99-year leasehold cluster houses surged the most, at 20.1 per cent a year, from $357 psf to $813 psf.

Strata landed homes  values  rise fastest
The price gap between 99-year leasehold strata and non-strata terrace homes momentarily widened to about $1.5 million in the second half of 2007 due to the launch of Hillcrest Villa (above) at Bukit Timah.

wrennie@sph.com.sg

Strata landed homes’ values ‘rise fastest’ – Straits Times news, 17 April 2015

MRT lines capacity to double up by 2030

Cross Island Line

Spanning Singapore, the Cross Island Line (CRL) will be about 50km in length and is targeted to complete around 2030. It is also the 8th MRT line, designed to be a high capacity line.

When completed, the Cross Island Line (CRL) which starts from Changi, passing through Loyang, Pasir Ris, Hougang, Ang Mo Kio, Bukit Timah, Clementi, West Coast and Jurong, is expected to have a daily ridership of at least 600,000 commuters. This will place the CRL higher, in terms of capacity and usage, compared to the North East Line.

May 2016 - Straits Times news article regarding the upcoming cross-island-line
May 2016 Straits Times news article regarding the upcoming cross-island-line. Larger capacity (with more than 6 carriages serving approx 600,000 commuters daily), and providing faster commute between Jurong & Changi as the CRL spans through several major residential estates.

HOW WILL BELGRAVIA GREEN BENEFIT FROM THE CROSS ISLAND LAND (CRL)?

The CRL will be an important part of our MRT network – providing a faster commute between the east and the west, from Changi to Jurong. It will connect all of our existing radial MRT lines with close to half of the 30-plus CRL stations being interchange stations. Besides relieving the load on several of the existing MRT lines, the CRL will also provide commuters with many more travel routes to get to their destinations, bring about greater comfort to commuters and shorten journey times.

For instance, a commuter travelling from Ang Mo Kio can reach almost any part of Singapore using public transport within less than one hour, saving up to 30 to 40 minutes of travel time. Residents in Punggol will be able to travel directly to Pasir Ris – a popular travel route – in only 10 to 15 minutes, as compared to a 40-minute bus journey today.

Why Cross Island MRT Line?
Why Cross Island MRT Line?
Belgravia Green Front Entrance Drop Off, Developer, Sales Team, Clara Heng, Heng Clara, Clara,

Largest Strata Landed Project in Singapore!

The Developer

Fairview Developments Pte Ltd is a business unit of Tong Eng Brothers.

Tong Eng Brothers were the first to develop a 5.5 acre Paya Lebar industrial estate in Little Road. The company made huge profits by selling many parcels of land to major oil refining companies like Shell, Esso and Mobil, for use as petrol stations.

In the 1960s, hundreds of houses and apartments were constructed in Tong Eng Heights (now known as Changi Heights) and Changi Grove by the company for rent to the British Forces.

West Sea Garden in Pasir Panjang, Tong Kong Garden in Upper Paya Lebar and shophouses along Upper Paya Lebar Road represented some of their earlier projects.

By 1968, the Company owned up to 100 acres of land for development. The group has owned and developed more than a hundred acres of land for the last 50 years, involving office, retail, landed housing and apartment projects.

Three shophouses along Cecil Street and other adjoining pre-war shop houses were amalgamated to create an island site, and develop it into a 26-storey Tong Eng Building.

Amongst Tong Eng Group’s accomplishments were landed developments like Stratton Green, Belgravia Park, Stratton Park, 8 @ Stratton, this latest Belgravia Villas. Among others including prestigious Condominium developments such as Goodwood Grand, Three Balmoral, and Commercial projects such as Centrium Square & Arc 360.

Belgravia Villas Developer Past Projects
Tong Eng Brothers & Fairview Developments Project References.
BV Convenience n Location 1724x868

Where Lush Greenery & Space meets the Conveniences of a Matured Estate!

Belgravia Green is indeed a sight to behold, nestling on a gentle hill sloping fronting a beautiful 100m buffer adjoining a children’s playground.

The development including the 100m buffer is on a huge land area of 400,000 sqft, approximately the size of 5 football fields.

The sprawling development is aligned in a superior North South orientation and set amidst lush gardens and splendid water features.

  • 5 levels of living space.
  • Spacious entry courtyard.
  • View of natural hillside and surrounding greenery.
  • Branded appliances, sanitary wares and fittings.
  • 2 private parking lots for each house!
  • Easy access to major roads & expressways.
  • Minutes away from Malls, Eateries, Entertainment, Country Clubs, Nature, Business Hubs & Schools!
  • 5 levels of living space.

 

Belgravia Green (201-361 Belgravia Drive) is located off Ang Mo Kio Ave 5. It is just a 2 minutes drive to Greenwich V Mall with Supermarket, several Food joints, Childcare Centres, Gym, and etc amenities.

Also just minutes drive away to AMK Hub, Seletar Mall, and an array of 24 hours food joints at Jalan Kayu and the instagrammable F&B establishments in refurbished colonial bungalows at the Seletar Aerospace Park.

Belgravia Drive whether via Ang Mo Kio Ave 5 or Stratton Drive, are easily accessible to the City area via CTE & to the (Sengkang/ Punggol/ Tampines/ Pasir Ris) East via KPE/ TPE.

amk heritage trail map

Ang Mo Kio, a Matured Estate

Ang Mo Kio. as defined by URA, is a planning area and residential town that sits within the North-East Region of Singapore, bordered by the planning areas of Yishun to the north, Sengkang to the north-east, Serangoon to the east, Bishan to the south and the Central Water Catchment to the west. Ang Mo Kio can be said to be a self-contained, 3rd most populated planning area in the North-East Region and ranks 8th in terms of population in the country overall with a myriad of amenities within.[1]

The large commercialization of the Ang Mo Kio throughout mid-1970s and 1980s also saw the rise of neighbourhood startup businesses that remain prominent throughout Ang Mo Kio Town Centre today. One in particular eventually became one of Singapore’s largest supermarket chains, Sheng Siong.

Ang Mo Kio today, much like its neighbouring towns, is largely urbanized. Parks are prevalent in the town as part of the country’s green initiative. Said parks include Ang Mo Kio Town Garden East and Ang Mo Kio Town Garden West. Although not technically located within Ang Mo Kio itself, Bishan-Ang Mo Kio Park in the adjacent town of Bishan, was reopened in 2012 to serve residents of both towns. The park itself straddles along the Ang Mo Kio–Bishan boundary, making it easily accessible from Ang Mo Kio.

AMK cycling path, park cconnectors, MRT stations by LTA & URA

Transportation in AMK

Other than the Central Expressway (CTE) for those who drive, the town is well served by a multi-modal public transport system.

Two Mass Rapid Transit stations serve the town, with Ang Mo Kio MRT Station at the centre of town (directly linked to Ang Mo Kio Bus Interchange via an underground pedestrian walkway, and provides feeder bus services from the MRT stations to each neighbourhood), and Yio Chu Kang MRT Station (served by bus services via the Yio Chu Kang Bus Terminal sited beside the station) serving the town’s northern area.

Both the bus interchange and terminal offers trunk bus services to connect the town with the rest of the island, including a rapid connection to the city centre in the Central Area, as well as other financial and commercial districts in the central region of Singapore, including Shenton Way, Orchard Road, Marina Centre and Marine Parade.

 

Amenities

Administrative, legal, medical, religious, and social services catering towards the general public may also be found in the Ang Mo Kio area, with a major community hospital Ang Mo Kio Thye Hua Kwan Hospital that offers rehabilitative care.

Recreational amenities include the Ang Mo Kio Park located on a hilly area surrounded by Avenues 4, 5, and 6 and alongside Mayflower estate, and also Bishan Park along Ang Mo Kio Avenue 1 which is frequented by people from both Ang Mo Kio and Bishan estates.

Several shopping malls are also found in Ang Mo Kio Central:

AMK Hub - Integrated Bus Interchange cum Shopping Mall, linked via an underpass to Ang Mo Kio MRT Station
AMK Hub – Integrated Shopping Mall cum Bus Interchange, linked via an underpass to Ang Mo Kio MRT Station