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Issue 337

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CONTENTS FROM THE

p2 3 Disruptive Trends that Will Change


EDITOR
Welcome to the 338th edition of the
Singapore Property Weekly.
the Property Industry
Hope you like it!
p7 Resale Property Transactions
Mr. Propwise
(November 6 November 10)

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SINGAPORE PROPERTY WEEKLY Issue 338

3 Disruptive Trends that Will Change the Property


Industry
By Property Soul (guest contributor)

Earlier this year I spoke at the SMART Expo


about 5 Disruptive Trends That Are Changing
the Singapore Property Industry.In my
presentation, I shared with the audience how
digital technologies like Big Data, Fintech,
Virtual Reality and Smart Homes are
reshaping the Singapore property market,
while highlighting the emergence of the DIY
generation.

Let me recap three of the key disruptive


trends that will forever change our real estate
industry.

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SINGAPORE PROPERTY WEEKLY Issue 338

Trend #1 Every buyer will be an agents and appraisers to tell us the market
Informed Buyer value of a property. Everyone can be a
property analyst in the Information Age.
I mentioned in my book No B.S. Guide to
Property Investment that the real estate How big is the future supply? Which new
industry is an imperfect market. Homebuyers projects have leftover units? What are the
and property investors often lack the market recent transacted prices? How much rent a
information they need before they commit. similar unit can fetch? The answers are just a
few clicks away.
For instance, many property resources and
tools are designed only for real estate In my earlier post 5 ways Big Data is
professionals, but not for the public. For retail disrupting Singapore property market, I talk
investors, there is no choice but to trust the about how to harness Big Data technologies
mass media and industry analysts. to capture and analyze huge amounts of
property data in order to identify trends and
However, with the availability of property
patterns meaningful to industry players and
portals and online databases, endusers can
property investors.
now do their own market research and run
their own property analyses based on first- Big Data is definitely going to get even bigger
hand data. in the future. And Big Data can turn into big
profits if we know how to turn transaction data
Gone are the days when we can rely only on
into useful insights.

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SINGAPORE PROPERTY WEEKLY Issue 338

Trend #2 Customers are getting more there are positive reviews, there are sales.
sophisticated
A value-conscious developer should put more
Besides being well-informed, todays dollars into monitoring social media rather
customers are also getting more than advertising in print media. Afterall, there
sophisticated.In the past, developers built and is buying interest only if a property ad can
buyers would come. In the internet age, engage the target audience.
developers build and buyers Google first.
Similarly, professional media should declare
In the past, any dissatisfied customer can the writers or the analysts interests when
complain to ten others by phone or dozens of they comment on the property market in any
people by email in one day. In the internet article. Afterall, there is credibility in a media
age, any dissatisfied customer can complain only if it takes a neutral stand in news
in the social media and reach hundreds or reporting.
thousands in one day.
Very soon, there will be websites to review
Thanks to the power of social media. We the customer service of property agents (not
have plenty of enduser reviews, discussion just OrangeTees Property Agent Bank with
forums and community groups online. listings of only 5-star rating agents), quality of
Customers are just a few clicks away to find TOP projects, charges and services of
out what others think of a product or a conveyancing lawyers, etc. there is
service.If there is trust, there is business. If nowhere to hide.

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SINGAPORE PROPERTY WEEKLY Issue 338

Gone are the days when homebuyers have including air-con ledges and balconies, must
no choice but to pray that there wont be any also be accurately represented in the
hiccup after they paid for their property. showflats.
Customers these days know their rights, and
Trend #3 The DIY Age has arrived
they wont hesitate to fight for it.
If we can use self-service check-in kiosks at
In 2015, residents of the Seaview Condo
the airport; order burgers on a touch-screen
sued the developer, the main contractor, the
LED display in McDonalds; pay for groceries
architect and the electrical engineers for $32
at self-service counters in NTUC Fairprice;
million for defects in the development.In
why cant we buy properties the DIY way?
March, 200 owners of La Fiesta complained
about their units aircon ledges which A survey by the Council for Estate Agencies
exceeded 5 to 7 percent of the total floor (CEA) showed that only 60 percent of
area, representing a total overpayment of $18 consumers said they are likely to engage an
million in unused space. agent for future transactions. Figures from
HDB show that DIY buyers and sellers of
The government reacted in less than a month
resale flats have increased from 11 percent in
by stressing that URA will take developers to
2010 to 23 percent in the last five months.
task if they misrepresent important
HDB also publishes online guides and
information about the units they are selling to
conducts seminars for the new DIY
prospective home-buyers. It also states that
generation.
the floor area of various types of spaces,
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SINGAPORE PROPERTY WEEKLY Issue 338

There are many portals for no-agent buyers, The mortgage industry is jumping on the
sellers, landlords and tenants DirectHome, Fintech bandwagon too. OCBC has closed
OhMyHome, Snappyhouse, and recently more than S$10 million in home loans
Stackedhomes. There is also Yotcha offering through its chatbot application over just three
a platform for property agents to bid if they months.Property agents, mortgage bankers
want to get the business from the sellers. For and other middlemen in the property industry
sellers, they can post online photos of their are facing unprecedented challenges. The
home, find an agent-free buyer, and do the future of DIY is now!
paperwork on their own.
Are you ready to fully embrace the age of
Saving money is only one of the reasons. disruption?
Todays customers have changed: They want
By guest contributor Property Soul, a
to buy, but dont want to be sold. They prefer
successful property investor, blogger, and
self-service rather than to be served. Stop
author of the No B.S. Guide to Property
pushing to them what you think they want,
Investment.
and listen to what they say they want.

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SINGAPORE PROPERTY WEEKLY Issue 338

Non-Landed Residential Resale Property Transactions for the Week of Nov 6 Nov 10

Postal Area Transacted Price Postal Area Transacted Price


Project Name Tenure Project Name Tenure
District (sqft) Price ($) ($ psf) District (sqft) Price ($) ($ psf)
1 THE SAIL @ MARINA BAY 667 1,215,000 1,821 99 8 CITY SQUARE RESIDENCES 1,496 2,128,000 1,422 FH
2 SPOTTISWOODE 18 388 850,000 2,194 FH 8 KERRISDALE 2,379 2,320,000 975 99
2 SPOTTISWOODE RESIDENCES 926 1,868,000 2,018 FH THE RITZ-CARLTON RESIDENCES
9 2,831 9,525,000 3,365 FH
2 ICON 904 1,465,000 1,620 99 SINGAPORE CAIRNHILL
3 THE CREST 1,227 2,356,000 1,920 99 9 HILLTOPS 2,465 8,000,000 3,245 FH
3 ALEXIS 398 705,000 1,770 FH 9 THE VERMONT ON CAIRNHILL 3,466 7,500,000 2,164 FH
3 TANGLIN VIEW 872 1,210,000 1,388 99 9 THE COSMOPOLITAN 1,141 2,420,000 2,121 FH
3 RIVER PLACE 807 1,095,000 1,356 99 9 CAIRNHILL CREST 1,733 3,200,000 1,847 FH
3 EMERALD PARK 1,087 1,360,000 1,251 99 9 THE COSMOPOLITAN 1,399 2,570,000 1,837 FH
3 RIVER PLACE 1,582 1,950,000 1,232 99 9 URBANA 1,012 1,818,000 1,797 FH
4 REFLECTIONS AT KEPPEL BAY 1,625 3,043,810 1,873 99 9 ROBERTSON 100 1,066 1,800,000 1,689 FH
4 REFLECTIONS AT KEPPEL BAY 1,152 1,856,470 1,612 99 9 ROBERTSON 100 1,561 2,600,000 1,666 FH
4 REFLECTIONS AT KEPPEL BAY 7,987 12,779,200 1,600 99 9 SAM KIANG MANSIONS 1,206 1,880,000 1,559 FH
4 TURQUOISE 2,411 3,700,000 1,535 99 9 SUITES AT ORCHARD 2,196 2,790,000 1,271 99
5 THE ROCHESTER 861 1,200,000 1,394 99 10 ARDMORE THREE 1,744 7,530,000 4,318 FH
5 THE VISION 818 1,020,000 1,247 99 10 THE NASSIM 2,906 10,000,000 3,441 FH
5 LANDRIDGE CONDOMINIUM 1,776 2,200,000 1,239 FH 10 THREE BALMORAL 1,528 3,316,600 2,170 FH
5 THE PEAK@BALMEG 1,711 1,990,000 1,163 FH 10 THREE BALMORAL 1,528 3,302,300 2,161 FH
5 THE VISION 1,302 1,432,200 1,100 99 10 ONE TREE HILL RESIDENCE 1,130 2,335,000 2,066 FH
5 VARSITY PARK CONDOMINIUM 1,292 1,415,000 1,095 99 10 MADISON RESIDENCES 1,464 2,800,000 1,913 FH
5 VARSITY PARK CONDOMINIUM 1,798 1,930,000 1,074 99 10 NATHAN RESIDENCES 592 1,082,000 1,828 FH
5 THE INFINITI 1,625 1,680,000 1,034 FH 10 RV RESIDENCES 1,216 2,215,000 1,821 999
5 BLUE HORIZON 969 945,000 975 99 10 RV RESIDENCES 1,216 2,215,000 1,821 999
5 BLUE HORIZON 936 900,000 961 99 10 VERDURE 1,421 2,580,000 1,816 FH
7 SOUTHBANK 958 1,435,000 1,498 99 10 REGENCY PARK 3,175 5,300,000 1,669 FH

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SINGAPORE PROPERTY WEEKLY Issue 338

Postal Area Transacted Price Postal Area Transacted Price


Project Name Tenure Project Name Tenure
District (sqft) Price ($) ($ psf) District (sqft) Price ($) ($ psf)
10 THE DRAYCOTT 2,637 4,390,000 1,665 FH 14 PRIME RESIDENCE 398 510,000 1,281 FH
10 D'LEEDON 1,173 1,880,000 1,602 99 14 VACANZA @ EAST 1,938 1,950,000 1,006 FH
10 THE ASTON 1,109 1,610,000 1,452 FH 14 SKT MANSIONS 1,012 880,000 870 FH
10 CHATEAU LE FAME 1,109 1,610,000 1,452 FH 14 SKT MANSIONS 1,119 938,000 838 FH
10 THE LEGACY 969 1,380,000 1,425 FH 15 MARINE BLUE 732 1,393,290 1,904 FH
10 HOLLAND PEAK 1,464 2,000,000 1,366 FH 15 FULCRUM 1,055 1,873,920 1,776 FH
10 N.A. 1,518 1,888,888 1,245 FH 15 THE ESTA 1,345 2,168,000 1,611 FH
10 SPANISH VILLAGE 2,056 2,550,000 1,240 FH 15 THE ESTA 1,475 2,308,888 1,566 FH
10 LUTHERAN TOWERS 1,916 1,685,000 879 103 15 HERITAGE EAST 377 555,000 1,473 FH
11 6 DERBYSHIRE 474 1,361,644 2,875 FH 15 PEBBLE BAY 2,626 3,830,000 1,458 99
11 6 DERBYSHIRE 527 1,403,938 2,662 FH 15 THE SERENNO 775 1,110,000 1,432 FH
11 6 DERBYSHIRE 474 1,175,879 2,483 FH 15 ONE FORT 1,227 1,631,910 1,330 FH
11 26 NEWTON 570 1,400,000 2,454 FH 15 THE HACIENDA 1,206 1,340,000 1,112 FH
11 L'VIV 614 1,300,000 2,119 FH 15 TEMBELING COURT 818 888,000 1,085 FH
11 L'VIV 1,001 2,050,000 2,048 FH 15 EBONY MANSIONS 1,206 1,300,000 1,078 FH
11 N.A. 1,238 2,500,000 2,020 FH 15 COSTA RHU 1,399 1,485,000 1,061 99
11 BUCKLEY CLASSIQUE 1,475 2,750,000 1,865 FH 15 GALAXY TOWERS 1,066 1,113,000 1,044 FH
11 SOLEIL @ SINARAN 1,722 3,100,000 1,800 99 15 SANCTUARY GREEN 1,593 1,580,000 992 99
12 SKYSUITES17 377 690,000 1,832 FH 15 VILLA MARINA 1,507 1,330,000 883 99
12 THE RIVERINE BY THE PARK 980 1,478,000 1,509 FH 15 CELESTIA 1,216 1,070,000 880 FH
12 OKIO 570 843,800 1,479 FH 15 NEPTUNE COURT 1,270 1,010,000 795 99
12 THE MARQUE @ IRRAWADDY 883 1,110,000 1,258 FH 16 CASA MERAH 1,227 1,350,000 1,100 99
12 BEACON HEIGHTS 926 900,000 972 999 16 WATERFRONT WAVES 969 1,010,000 1,043 99
13 SKY GREEN 1,496 2,080,000 1,390 FH 16 EAST MEADOWS 1,206 1,150,000 954 99
13 SOMMERVILLE LOFT 1,098 1,175,000 1,070 FH 16 BAYWATER 1,033 935,000 905 99
14 MELOSA 431 560,000 1,301 FH 16 AQUARIUS BY THE PARK 893 805,000 901 99
14 D'OASIA 538 700,000 1,301 FH 16 CASA FLORA 1,561 1,270,000 814 FH

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SINGAPORE PROPERTY WEEKLY Issue 338

Postal Area Transacted Price Postal Area Transacted Price


Project Name Tenure Project Name Tenure
District (sqft) Price ($) ($ psf) District (sqft) Price ($) ($ psf)
16 TANAMERA CREST 1,184 930,000 785 99 21 SUMMERHILL 1,206 1,266,000 1,050 FH
16 BEDOK COURT 2,271 1,625,000 715 99 21 SPRINGDALE CONDOMINIUM 1,345 1,390,000 1,033 999
17 CARISSA PARK CONDOMINIUM 1,324 1,000,000 755 FH 21 SELANTING GREEN 1,001 1,030,000 1,029 FH
17 BALLOTA PARK CONDOMINIUM 1,421 948,000 667 FH 21 CLEMENTI PARK 1,722 1,700,000 987 FH
17 LOYANG VALLEY 1,421 888,000 625 99 21 THE RAINTREE 1,378 1,250,000 907 99
18 SEA ESTA 1,119 1,150,000 1,027 99 22 PARC VISTA 1,152 985,000 855 99
18 SEA ESTA 904 890,000 984 99 22 PARC OASIS 1,507 1,238,000 822 99
18 RIPPLE BAY 1,076 980,000 910 99 23 HILLVISTA 947 1,138,000 1,201 FH
18 RIS GRANDEUR 1,367 1,150,000 841 FH 23 HILLVIEW GARDEN ESTATE 1,076 980,000 910 998
18 NV RESIDENCES 1,453 1,200,000 826 99 23 PARKVIEW APARTMENTS 1,119 765,000 683 99
18 MELVILLE PARK 1,421 825,000 581 99 23 NORTHVALE 1,270 850,000 669 99
19 THE SCALA 829 1,080,000 1,303 99 27 EIGHT COURTYARDS 990 920,000 929 99
19 FONTAINE PARRY 915 1,000,000 1,093 999 27 EUPHONY GARDENS 1,894 1,035,000 546 99
19 PARC VERA 1,141 1,150,000 1,008 99 28 SELETAR PARK RESIDENCE 527 620,000 1,175 99
19 CHILTERN PARK 1,572 1,428,888 909 99 28 H2O RESIDENCES 1,130 1,160,000 1,026 99
19 RIVER ISLES 1,227 1,050,000 856 99
19 RIVERVALE CREST 1,206 788,000 654 99
NOTE: This data only covers non-landed residential resale property
20 SKY VUE 829 1,288,000 1,554 99
transactions with caveats lodged with the Singapore Land Authority.
20 SKY HABITAT 1,841 2,739,300 1,488 99
Typically, caveats are lodged at least 2-3 weeks after a purchaser
20 SKY HABITAT 1,410 1,919,950 1,362 99 signs an OTP, hence the lagged nature of the data.
20 SKY HABITAT 1,163 1,561,230 1,343 99
21 SUITES AT BUKIT TIMAH 431 675,000 1,568 FH
21 THE BEVERLY 1,862 2,278,888 1,224 FH
21 CAVENDISH PARK 1,313 1,450,000 1,104 99
21 CLEMENTI PARK 1,163 1,250,000 1,075 FH
21 SYMPHONY HEIGHTS 1,216 1,300,000 1,069 FH

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