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Issue 366

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CONTENTS FROM THE

p2 The 3 Best Kept “Secrets” in the


EDITOR
Welcome to the 366th edition of the
Singapore Property Weekly.
Singapore Property Market
Hope you like it!
p9 Resale Property Transactions
Mr. Propwise
(July 9 – July 13)

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SINGAPORE PROPERTY WEEKLY Issue 366

The 3 Best Kept “Secrets” in the Singapore


Property Market
By Property Soul (guest contributor)

Have you come across a hidden gem in the


property market shared by someone from the
industry? Did anyone tell you that he knows
the best kept secret about a high return
investment project? When was the last time
somebody said he has insider news and told
you to buy a stock that’s going to go up?

Well, I hope you didn’t pick up too many of


those top buys in the stock market recently. It
looks like the bull market is changing its
direction now.

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SINGAPORE PROPERTY WEEKLY Issue 366

Are we officially in a bear market now? Index fell 20 percent from the peak.

In barely two weeks’ time, the bullish tone of Bloomberg saw 18 out of 24 currencies
financial institutions and finance media dropping. The worst hit emerging countries
suddenly turned bearish. include China, Philippines, Brazil, Pakistan,
Dubai and Turkey. Jonathan Garner, Morgan
“Goldman Sachs: Weak stock market returns
Stanley’s Chief Asia and Emerging Markets
are ahead even with booming earnings” –
Strategist concluded, “This is a dangerous
CNBC
market. We now think we’re heading to an
“Investors are fleeing the financials at the outright bear market.”
highest rate in years” – CNBC
How does a stock market crash affect
“Bear Market in Stocks, Weak Yuan Show property prices?
China Problems Piling Up” – Bloomberg
Blame it on the World Cup. It is a big
“Trade War Hits Stocks as $8 Trillion in Bear distraction from the financial market. In 2014,
Market: Inside EM” – Bloomberg the European Central Bank found a 45
In Singapore, stocks tumbled to 9-month low percent drop in trading volume during
after Trump and Xi exchanged new tariff matches. It fell 55 percent when the home
threats. The Hong Kong stock market was team was playing.
more seriously hit. The Shanghai Composite

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SINGAPORE PROPERTY WEEKLY Issue 366

Blame it on the trade war. Who knows the two most popular investment tools. If stock
actual scale of economic impact on the rest of prices continue to slide, investors have to
the world when the two biggest countries are cover their margin calls and pay back the
trying to impose more tariffs on each other? stock brokers. They have to dispose their
properties to cover the losses in stocks.
There are more factors to blame: Fed rate
hikes, escalating oil prices, rising US budget Selling a property requires considerable time
deficit … to find a buyer. After that, there is another 12
weeks to complete the sale transaction.
But these are only immediate causes to
That’s why there is a lead time of 3 to 6
shoulder the blame.
months between the stock market crash and
The underlying reasons, as I pointed out in the slump of property prices.
my blog post “When is the next market
Are you infected by the optimism of
crash?”, are higher interest rates putting high
vested stakeholders?
pressure on the borrowers and the Fed’s
unwinding of its sizable bond portfolio in the Be it equities or real estate, there is nothing to
open market. worry about if you are not overleveraged in
your investments. Especially when you are
How would it affect the property market?
constantly reminded in this blog “to be fearful
In Singapore, equities and properties are the when others are greedy”.

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SINGAPORE PROPERTY WEEKLY Issue 366

Amid mixed property market signals, I hope prophecies come up once again in the
you still stay sensible to tell real facts from market.
wild predictions.
How did they tell you their best kept
We can give licences to property agencies secret?
and their agents. But we cannot regulate the
It’s nothing creative. They keep repeating
fortune telling industry. There are many
three sayings to sell you rare investment
untrained fortune tellers in this market. They
opportunities and hidden gems in this market.
are free to approach customers and speak to
the media about their market forecast based “Secret” #1 – Prices will continue to go up
on gut feel and confirmation bias. This time it’s going to be different. Prices
Unfortunately, the media is always the worst won’t come down and will only go up higher
predictor of what is going to happen next. But for many years to come.
since fortune tellers are not certified by any Is there anything in this world that will forever
authority, no one will be held responsible for go up and never go down?
any consequences.
Try saying this to children queuing for the
Time passes and things look up again, with giant rollercoaster or passengers preparing to
mishaps of the victims bygone and mistakes board a flight. You sure can scare the hell out
of fortune tellers forgotten. The same of them.

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SINGAPORE PROPERTY WEEKLY Issue 366

Remember, the only thing in this world that Singaporeans like to believe in luck: I am
won’t go down is: your age. Let me add one lucky. They are lucky. You can be lucky too.
more thing: the growing number of Let’s all jump on the bandwagon and make
speculators before a market crash. money together.

For speculators, history doesn’t have any The fact is: Ordinary people have limited luck
educational value. They suffer big losses but like to believe that they are lucky. The
every time the market crashes. market is a monster that makes unlucky
people feel they are lucky this time, not
“Secret” #2 – This is the best thing to buy
knowing that they are going to be broke soon.
now
The market tends to make us look foolish
Everyone understands the importance of
most of the time, doesn’t it?
making hay while the sun shines and to do
the right thing when the tide is in your favor. “Secret” #3 – This is going to take over
the world in the future
You believe the analysts have the right set of
data, have done their research and made Many scammers are making use of our
logical conclusions. The developer, agency worship of fashionable technologies to talk us
and your agent are all telling you that this is into buying a highly profitable future product.
the property to buy now. Who cares to look at It is sad to see powerful future technologies
the raw data, run your independent analysis invented for a good cause are being
and come up with your own conclusion? manipulated into an engine of speculation.

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SINGAPORE PROPERTY WEEKLY Issue 366

Cryptocurrency is a great concept before blockchain platforms may be used for criminal
speculators rushed to join the craze that activities.
resulted in a big price correction. (Read my
Fintech is an indispensable word in any new
earlier post on “Lessons learned from the fall
financial start-up. KPMG said fintech funding
of bitcoin”.)
in Singapore hit a record US$229 million last
Crowdfunding is an excellent financing year. In early December, around 1,000 people
platform to raise funding from like-minded lost millions to local fintech start-up SixCapital
people to accomplish meaningful projects. or SixCap that promised returns up to 18
But con artists are taking advantage of the percent a year.
unregulated market to run scams and ponzi
When will investors share their genuine
schemes that profit their own pockets.
best kept secret?
Blockchain will definitely take over in the
I said this in my book No B.S. Guide to
future. Last year, two proptech companies
Property Investment and let me repeat it
FundPlaces and Reidao used blockchain
again here:
platforms to create property-backed
tokens. The Monetary Authority of Singapore “Till this day I have yet to know anyone who
immediately issued “buyer beware” warnings really became a millionaire by joining any
to caution investors that such property-related unproven get-rich-quick program or investing
in any high-return overseas venture.

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SINGAPORE PROPERTY WEEKLY Issue 366

And I personally have not met any successful Reason #2: When they themselves are also
investor who lets slip of what new business following the herd, like parrots repeating what
opportunity he is currently exploring, except everyone is saying.
for the few partners he trusts.”
Reason #3: When they are being possessed,
So don’t come and ask me what I am not by the bank after declared a bankrupt, but
researching to invest in next. In my blog, I will by some supernatural force or evil spirits.
only warn you all the hidden traps in this
Any more best kept secret to share in this
market. Like other savvy investors,
market?
investment opportunities and hidden gems
are very personal and we exchanged notes By guest contributor Property Soul, a
with very close investor friends only. successful property investor, blogger, and
author of the No B.S. Guide to Property
Let me summarize three reasons why people
Investment.
won’t hold back their best kept “secret” and
voice it in public.

Reason #1: When they are representing their


company or their client, and receive their pay,
reward and commission from them.

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SINGAPORE PROPERTY WEEKLY Issue 366

Non-Landed Residential Resale Property Transactions for the Week of Jul 9 – Jul 13

Postal Area Transacted Price Postal Area Transacted Price


Project Name Tenure Project Name Tenure
District (sqft) Price ($) ($ psf) District (sqft) Price ($) ($ psf)
1 MARINA BAY RESIDENCES 1,981 5,600,000 2,827 99 8 TYRWHITT 139 366 618,000 1,689 FH
1 THE SAIL @ MARINA BAY 614 1,360,000 2,217 99 8 CITY SQUARE RESIDENCES 861 1,440,000 1,672 FH
1 THE SAIL @ MARINA BAY 1,647 2,800,000 1,700 99 9 SCOTTS SQUARE 635 2,360,000 3,716 FH
3 THE CREST 947 2,128,000 2,247 99 9 URBAN RESORT CONDOMINIUM 4,715 13,900,000 2,948 FH
3 THE CREST 1,023 2,243,000 2,193 99 9 MARTIN PLACE RESIDENCES 592 1,458,000 2,463 FH
3 THE CREST 1,701 3,729,000 2,193 99 9 THE COSMOPOLITAN 1,324 3,180,000 2,402 FH
3 THE CREST 1,625 3,113,000 1,915 99 9 THE LUMOS 1,755 3,750,000 2,137 FH
3 RIVER PLACE 1,249 1,833,000 1,468 99 9 LEONIE HILL RESIDENCES 1,389 2,950,000 2,125 FH
3 ASCENTIA SKY 1,475 2,130,000 1,444 99 9 TRIBECA 570 1,180,000 2,068 FH
3 QUEENS 1,195 1,515,000 1,268 99 9 TIARA 1,507 3,000,000 1,991 FH
4 CORALS AT KEPPEL BAY 904 2,056,000 2,274 99 9 RIVERSIDE 48 689 1,226,800 1,781 FH
4 CARIBBEAN AT KEPPEL BAY 840 1,530,000 1,822 99 9 CAIRNHILL PLAZA 3,305 5,750,000 1,740 FH
4 CARIBBEAN AT KEPPEL BAY 840 1,500,000 1,787 99 9 ORCHARD COURT 1,453 2,300,000 1,583 993
4 REFLECTIONS AT KEPPEL BAY 850 1,460,000 1,717 99 9 WILKIE COURT 1,044 1,500,000 1,437 FH
5 THE PEAK@BALMEG 1,507 2,100,000 1,394 FH 9 PARC CENTENNIAL 1,572 2,250,000 1,432 FH
5 HUNDRED TREES 915 1,238,888 1,354 956 10 THE ORANGE GROVE 2,153 4,850,000 2,253 FH
5 HUNDRED TREES 786 1,030,000 1,311 956 10 THE TOMLINSON 2,347 5,150,000 2,195 FH
5 THE ESTIVA 980 1,280,000 1,307 FH 10 DRAYCOTT EIGHT 1,173 2,200,000 1,875 99
5 CARABELLE 1,292 1,685,000 1,305 956 10 LOFT@HOLLAND 980 1,600,000 1,633 FH
5 BLUE HORIZON 904 988,000 1,093 99 10 PALM SPRING 1,862 2,980,000 1,600 FH
5 BLUE HORIZON 1,163 1,200,000 1,032 99 10 ASTRID MEADOWS 1,690 2,550,000 1,509 FH
5 FABER CREST 1,335 1,350,000 1,011 99 10 ASTRIDVILLE 2,433 3,350,000 1,377 FH
5 FABER CREST 1,249 1,250,000 1,001 99 10 BEAVERTON COURT 3,229 4,438,000 1,374 FH
7 CONCOURSE SKYLINE 1,087 1,750,000 1,610 99 10 CASABELLA 3,078 3,250,000 1,056 FH

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SINGAPORE PROPERTY WEEKLY Issue 366

Postal Area Transacted Price Postal Area Transacted Price


Project Name Tenure Project Name Tenure
District (sqft) Price ($) ($ psf) District (sqft) Price ($) ($ psf)
11 AMARYLLIS VILLE 1,238 2,150,000 1,737 99 16 WATERFRONT ISLE 915 1,118,000 1,222 99
11 AMARYLLIS VILLE 980 1,561,000 1,594 99 16 THE BAYSHORE 980 950,000 970 99
11 LA SUISSE 2,099 2,580,000 1,229 999 17 THE INFLORA 1,335 1,450,000 1,086 99
12 THE INTERWEAVE 388 610,000 1,574 FH 17 HEDGES PARK CONDOMINIUM 764 738,000 966 99
12 THE BELLEFORTE 1,335 1,680,000 1,259 FH 17 ESTELLA GARDENS 1,485 1,308,000 881 FH
13 NIN RESIDENCE 474 770,000 1,626 99 17 AZALEA PARK CONDOMINIUM 1,313 1,125,000 857 999
14 COSMO 398 640,000 1,607 FH 17 EDELWEISS PARK CONDOMINIUM 1,055 888,000 842 FH
14 SIMS EDGE 474 750,000 1,584 FH 17 ESTELLA GARDENS 1,292 1,080,000 836 FH
14 LEVENUE 463 620,000 1,340 FH 18 MODENA 1,485 1,390,000 936 99
14 EDENZ LOFT 431 570,000 1,324 FH 18 RIPPLE BAY 1,399 1,298,000 928 99
14 CENTRA HEIGHTS 581 750,000 1,290 FH 18 NV RESIDENCES 1,453 1,300,000 895 99
14 KEMBANGAN SUITES 818 968,000 1,183 FH 18 SAVANNAH CONDOPARK 1,023 870,000 851 99
14 EUHABITAT 1,130 1,205,640 1,067 99 18 OASIS @ ELIAS 1,410 1,175,000 833 99
14 STARVILLE 1,216 1,168,000 960 FH 18 CHANGI RISE CONDOMINIUM 1,281 1,050,000 820 99
14 ASTON MANSIONS 1,012 915,000 904 99 18 SAVANNAH CONDOPARK 2,293 1,690,000 737 99
15 THE SEAWIND 646 1,192,000 1,846 FH 19 BARTLEY RESIDENCES 807 1,208,000 1,496 99
15 SILVERSEA 969 1,725,000 1,781 99 19 CASA CAMBIO 495 728,888 1,472 FH
15 QUESTA @ DUNMAN 807 1,200,000 1,486 FH 19 THE SCALA 850 1,188,000 1,397 99
15 PARC ELEGANCE 452 640,000 1,416 FH 19 LA FIESTA 753 960,000 1,274 99
15 WATER PLACE 904 1,280,000 1,416 99 19 THE SPRINGBLOOM 1,302 1,500,000 1,152 99
15 CUBIK 1,023 1,400,000 1,369 FH 19 PARC CENTROS 1,141 1,300,000 1,139 99
15 SANCTUARY GREEN 1,399 1,680,000 1,201 99 19 KOVANA 1,184 1,320,000 1,115 FH
15 THE SUNNIDORA 861 1,020,000 1,185 FH 19 THE QUARTZ 1,066 1,040,000 976 99
15 THE BALE 1,765 1,720,000 974 FH 19 PARK RESIDENCES KOVAN 1,195 950,000 795 FH
16 OPTIMA @ TANAH MERAH 484 740,000 1,528 99 20 MARYMOUNT VIEW 1,755 2,318,000 1,321 FH
16 OPTIMA @ TANAH MERAH 506 660,800 1,306 99 21 N.A. 1,033 1,280,000 1,239 999
16 WATERFRONT GOLD 667 850,000 1,274 99 21 HILLVIEW GREEN 980 950,000 970 999

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SINGAPORE PROPERTY WEEKLY Issue 366

Postal Area Transacted Price


Project Name Tenure
District (sqft) Price ($) ($ psf)
22 CASPIAN 1,001 1,055,000 1,054 99
22 THE MAYFAIR 1,195 1,050,000 879 99
23 PARK NATURA 1,378 1,620,000 1,176 FH
23 THE AMSTON 1,313 1,250,000 952 999
23 HILLTOP GROVE 1,485 1,200,000 808 99
26 CASTLE GREEN 1,130 840,000 743 99
27 SKIES MILTONIA 969 980,000 1,012 99
27 THE NAUTICAL 990 960,000 969 99
27 EIGHT COURTYARDS 1,345 1,113,800 828 99
28 SELETAR SPRINGS CONDOMINIUM 980 810,000 827 99

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.

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