Issue 274

Copyright 2011-2016 www.propwise.sg. All Rights Reserved.

CONTENTS
p2

FROM THE

EDITOR

A $10,000 Fine and A 6-month Jail Term

Welcome to the 274th edition of the

Singapore Property Weekly.

for Not Showing a Card. Seriously?

Hope you like it!

p5

Singapore Property News This Week

p7

Resale Property Transactions

Mr. Propwise

(August 8 August 12)

Contribute

Advertise

Do you have articles and insights and articles that youd like to share
with thousands of readers interested in the Singapore property
market? Send them to us at info@propwise.sg, and if theyre good
enough, well publish them here, on our blog and even on Yahoo!
News.

Want to get your brand, product, service or property listing out to

thousands of Singapore property investors at a very reasonable
cost? Head over to www.propwise.sg/advertise/ to find out more.

SINGAPORE PROPERTY WEEKLY Issue 274

A $10,000 Fine and A 6-month Jail Term for Not

Showing a Card. Seriously?
By Person of Interest (guest contributor)

On September 22 last year, a Norwegian man

allegedly hurt a taxi driver by wrapping his
arm around the latter's neck, and later after
serving slightly more than half of his 10-week
jail term, was on February 16 fined $2,000
after a retrial.
In comparison, a real estate agent could be
slapped with a fine of $10,000 and/or a jail
term of 6 months if he does not display his
estate agent card, governed by The Estate
Agents(Estate Agency Work) Regulations
2010,

Back to Contents

Page | 2

SINGAPORE PROPERTY WEEKLY Issue 274

Estate Agents Act 2010(ACT 25 OF 2010),
where Any person who contravenes
paragraph (1) or (2) shall be guilty of an
offence and shall be liable on conviction to a
fine not exceeding
$10,000 or
to
imprisonment for a term not exceeding 6
months or to both.

A Real Estate Agents Joke

Paragraph (1) states that it is mandatory to

for an agent to display his estate agent card,
and paragraph (2) states that it is mandatory
for the real estate agent to show the card to
any person who may reasonably request to
see the card and allow such person to record
any information from the card.

Agent: Well, all because of a card?

Does it make sense that the penalty for

physically assaulting another person can be
more serious than failing to show a card?

Back to Contents

A different real estate agent shared a similar

joke with me, pertaining to the outrageous
penalty of not displaying the estate agent
card.
Prisoner A: Hey bro, why are you here?

Prisoner A: What card? You stole a credit

card?
Agent: You see, I am a real estate agent. On
that fateful day, I was rushing for an
inspection of a property my buyer was
interested in. I was a little late, rushed and left
my estate agent card in the car. The buyer
was a CEA officer and I was caught redhanded. Fined SG$10,000 and given a six
month jail term.

Page | 3

SINGAPORE PROPERTY WEEKLY Issue 274

Prisoner A: Wah! You were being trapped! I
have a better deal, I stole $9,900 worth of
computer accessories. Only two months jail
for me.

What is the rationale for these rules? How did

the regulator derive such a heavy penalty for
something a property agent could genuinely
forget to do?

Agent: What to do? Maybe they have a quota

to meet. Once I am out of jail, I will hang my
estate agent card on my neck wherever I go.
I cant afford to forget again.

By guest contributor Person of Interest, a

Service Excellence Advocate and an avid
Forum writer.

Show the Card To Any Person?

This seems a bit hard to swallow. Why should
a real estate agent be obliged to show his/her
card to any person and allow them to record
his/her information? Shouldnt this be
restricted to requests from sellers, buyers,
tenants, landlords and security guards?

Back to Contents

Page | 4

SINGAPORE PROPERTY WEEKLY Issue 274

Singapore Property This Week

Residential

Keen bids expected for Fernvale Road

More BTO flats launched

Bidders for the residential site at Fernvale

Road are hoping to emulate the success of
the nearby High Park Residences, a gigantic
1,390-unit project that is nearly fully sold. The
site area is about 17,196 square metres, with
a maximum gross floor area of 51,590 sq m.
The lease period is 99 years. It is launched
for sale by public tender by the Urban
Redevelopment Authority (URA) on Tuesday.

Property consultants are expecting keen

interest for 4,841 build-to-order (BTO) flats
the Housing & Development Board (HDB)
launched for sale on Wednesday. Three are
located in the non-mature towns of Hougang,
Sembawang and Yishun, and two in the
mature town of Tampines.
(Source: Business Times)

Back to Contents

(Source: Business Times)

Page | 5

SINGAPORE PROPERTY WEEKLY Issue 274

Commercial
Tahir is the highest bidder for 110
Robinson Road
Indonesian tycoon and philanthropist Tahir is
believed to be the highest bidder for 110
Robinson Road, which was put up for sale
through a tender exercise that closed late last
month. He is understood to have offered
close to the S$45 million indicative price for
the 12-storey freehold office block. OCBC is
divesting the building as it does not use it for
its own operations and has received
unsolicited offers.
(Source: Business Times)

Back to Contents

Page | 6

SINGAPORE PROPERTY WEEKLY Issue 274

Non-Landed Residential Resale Property Transactions for the Week of Aug 8 Aug 12
Postal
District
1
1
4
4
5
5
5
5
9
9
9
9
9
9
9
9
9
9
10
10
10
10
10
10

Project Name
MARINA BAY RESIDENCES
ONE SHENTON
SKYLINE RESIDENCES
THE INTERLACE
HORIZON RESIDENCES
HERITAGE VIEW
REGENT PARK
WEST BAY CONDOMINIUM
OUE TWIN PEAKS
OUE TWIN PEAKS
OUE TWIN PEAKS
OUE TWIN PEAKS
OUE TWIN PEAKS
OUE TWIN PEAKS
OUE TWIN PEAKS
PATERSON SUITES
THE TRILLIUM
RICHMOND PARK
ONE JERVOIS
D'LEEDON
HOLLAND RESIDENCES
THE EQUATORIAL
D'LEEDON
PALM SPRING

Back to Contents

Area
(sqft)
1,066
581
484
2,271
990
1,195
1,163
1,216
549
570
1,399
570
1,399
1,055
549
1,679
1,798
1,367
990
1,421
1,389
1,722
1,518
1,066

Transacted
Price ($)
2,100,000
1,080,000
1,120,000
2,290,000
1,380,000
1,200,000
988,000
970,000
1,537,200
1,587,380
3,800,000
1,528,900
3,651,390
2,658,600
1,350,600
3,900,000
3,500,000
2,600,000
1,655,000
2,315,000
2,200,000
2,560,000
2,222,000
1,538,000

Price
Tenure
($ psf)
1,971
99
1,858
99
2,312
FH
1,008
99
1,394
FH
1,004
99
850
99
797
99
2,800
99
2,782
99
2,716
99
2,680
99
2,609
99
2,520
99
2,460
99
2,323
FH
1,947
FH
1,902
FH
1,671
FH
1,629
99
1,584
FH
1,486
FH
1,464
99
1,443
FH

Postal
District
10
10
10
10
10
11
11
11
11
11
11
11
11
12
12
12
12
15
15
15
15
16
16
18

Project Name
BOTANIC GARDENS MANSION
D'LEEDON
WOOLLERTON PARK
D'LEEDON
SOMMERVILLE PARK
THE GLYNDEBOURNE
SHELFORD SUITES
RESIDENCES @ EVELYN
NEWTON 21
AMARYLLIS VILLE
EVELYN MANSIONS
THE LINCOLN MODERN
THOMSON 800
PRESTIGE HEIGHTS
REGENT RESIDENCES
RIVERSIDE MELODIES
OLEANDER TOWERS
VERSILIA ON HAIG
COSTA RHU
GOLD LEAF MANSIONS
PEBBLE BAY
CASA MERAH
CHANGI GREEN
MY MANHATTAN

Area
(sqft)
1,755
1,744
3,197
1,744
1,948
1,991
1,270
2,250
1,539
657
840
1,378
1,410
398
818
1,507
1,141
1,130
1,012
915
861
1,259
872
861

Transacted
Price ($)
2,525,000
2,455,000
4,500,000
2,375,000
2,650,000
4,225,000
2,080,000
3,600,000
2,450,000
1,038,000
1,230,000
1,980,000
1,725,000
550,008
1,090,000
1,788,000
1,220,000
1,560,000
1,190,000
1,000,000
928,000
1,305,000
838,000
1,100,000

Price
Tenure
($ psf)
1,439
FH
1,408
99
1,408
FH
1,362
99
1,360
FH
2,122
FH
1,638
FH
1,600
FH
1,592
FH
1,581
99
1,465
FH
1,437
FH
1,223
FH
1,381
FH
1,332
FH
1,186
FH
1,069
99
1,380
FH
1,176
99
1,093
FH
1,078
99
1,036
99
961
FH
1,277
99

Page | 7

SINGAPORE PROPERTY WEEKLY Issue 274

Postal
District
18
19
20
20
20
21
22
22
22
22
22
23
26
27
27
28

Project Name
LIVIA
RIVERVALE CREST
CENTRO RESIDENCES
THOMSON V TWO
SEASONS VIEW
THE NEXUS
THE CENTRIS
CASPIAN
THE LAKESHORE
PARC OASIS
PARC VISTA
CASHEW HEIGHTS CONDOMINIUM
MEADOWS @ PEIRCE
THE ESTUARY
YISHUN EMERALD
GRANDE VISTA

Area
(sqft)
1,927
1,098
872
474
1,141
1,345
1,066
936
861
1,378
1,076
1,658
1,776
926
1,206
2,024

Transacted
Price ($)
1,520,000
788,000
1,250,000
620,000
1,100,000
1,628,000
1,200,000
1,050,000
950,000
1,238,800
863,888
1,520,000
1,950,000
898,000
868,000
1,560,000

Price
Tenure
($ psf)
789
99
718
99
1,434
99
1,309
FH
964
99
1,210
FH
1,126
99
1,121
99
1,103
99
899
99
803
99
917
999
1,098
FH
970
99
720
99
771
999

NOTE: This data only covers non-landed residential resale property

transactions with caveats lodged with the Singapore Land Authority.
Typically, caveats are lodged at least 2-3 weeks after a purchaser
signs an OTP, hence the lagged nature of the data.

Back to Contents

Page | 8