Highline Residences – Time For A Deal

highline residencesThe prime development includes a total of 500 homes ranging from one- to four-bedroom units, dual key apartments as well as penthouses, spread across three residential towers and four low-rise blocks. Around 75% of the 270 launched units are sold to date.

Mr Albert Foo, GM of Marketing at Keppel Land, said, “Highline Residences is another one of Keppel Land’s signature developments, following other iconic projects such as Reflections at Keppel Bay and Marina Bay Suites.

“Highline Residences presents an invaluable chance for homebuyers seeking a quality private development in the tradition estate of Tiong Bahru. Based on our survey, buyers are brought by Tiong Bahru’s central location and tradition charm, as well as the considerate layouts of the development and quality finishes provided. The lifestyle offerings, including personalised concierge services and privileged membership, have proved to be a draw.

“We believe that Highline Residences’ modern design will add to the surrounding Art Deco-style architecture, and we look forward to being part of this energetic Tiong Bahru community.”

Tiong Bahru has seen a rejuvenation lately, characterised by a tide of new age eateries and eclectic lifestyle shops. Ranked the World’s 4th coolest neighbourhood on earth by one of the 50 most fashionable neighbourhoods globally and Vogue1 alongside Harajuku in Tokyo, Soho in New York City and Le Marais in Paris2, the Tiong Bahru precinct is surely a coveted address in the city fringe.

Highline Residences is just a brief stroll away from the upcoming and Tiong Bahru MRT station Havelock MRT Station along the Thomson Line. Additionally it is located close to the Duke, the central business district and the Orchard Road shopping belt -NUS Graduate Medical School campus.

Highline Residences in Tiong Bahru additionally boasts a broad range of shopping, dining and leisure conveniences. Tiong Bahru Plaza, Tiong Bahru Food Centre, Tiong Bahru Conservation Area and Great World City are all a stone’s throw away. Families with school-going kids may also appreciate the site proximity to Crescent Girls’ School, zhangde Primary School and Gan Eng Seng Secondary School.

This was inspired by New York City’s High Line, a public park constructed on a historical elevated rail line.

When finished in 2018, residents can entertain at home in spacious relaxation with panoramic views of the city as a backdrop at one of both rooftop function rooms.

Highline Residences additionally features a rooftop communal garden facility to support healthful lifestyles and urban farming. Residents can enjoy growing their own harvest of herbs, spices and fruits.

Future residents at Highline Residences can also anticipate personalised concierge services and privileged membership. Included in these are housekeeping and limousine services, in addition to complimentary golfing at the award-winning privileged accessibility to Keppel Land’s golf courses and Ria Bintan Golf Club in Indonesia in China.

(1) Source: “Global Road Fashion Report: Mapping out the 15 Coolest Areas in the World” – Vogue (2014)

Will Rest-Core-Region’s Geylang becoming a hot trend again?

geylang-buildingOut of the top 50 property searches on The Edge Property web site, apartment and condominium projects in the Geylang area were among the most sought after. While Geylang may be famous for its red-light district and eateries such as those selling beef hor fun and frog porridge on Lorong 17, and 126 Dim Sum or Wan Dou Sek on Sims Avenue, it is also a popular residential area for those who want fairly priced freehold flats near the CBD and the upcoming Paya Lebar Central commercial heart, according to Alan Cheong, head of research for Savills Singapore.

“Buyers of residential units there are generally permanent residents and Singaporeans,” he notes. Tenants, on the other hand, often be foreigners who enjoy the place’s closeness to relatively affordable rents and conveniences, and the city. “Geylang has an unique nature, with its lively nightlife, which you can’t find elsewhere in Singapore,” remarks Cheong. Geylang is on the city fringe and is consequently considered to be in the Rest of Central Region (RCR). The most-searched condominiums are predominantly older projects, like the 218-unit freehold Wing Fong Mansions on Lorong 14, which was finished in 1997; the 338-unit freehold The Shining Spring on Lorong 40, which got its Temporary Occupation Permit in 1998; and the 142-unit freehold The Atrium Residences on Lorong 28, which was completed eight years past.

Wing Fong Mansions has been on investors’ radar due to its affordability and rental yield, says Cheong. The unit sizes are larger than those today, as it was built 19 years ago.

The latest trade at the development was for a 1,141 sq ft, three-bedroom unit, which sold for $820,000 ($719 psf) in September 2015.

While the gross rental return appears to outperform the average for most condominiums in the RCR and even CCR today, Cheong advises potential buyers to check with their banks or finance houses to figure out the loan limit they can obtain for residential properties in Geylang, especially those located in the red light zone, such as Wing Fong Mansions.

There are also some upcoming new launches in Singapore includes Queen Peaks By Mcc, Parc Riviera By El Development. Stay tune for our next report!

Decline in Rents Does Not Affect the Yields

rentstableDespite the fall in residential rents, returns, which represent the yearly rent as a percent of the property’s worth, haven’t dropped as some had anticipated, reported The Straits Times.

According to Germaine Ng, who lately located a renter near Yew Tee MRT station for her condominium unit, returns are a little better than placing her cash in the bank.

She’s also adding furniture as requested by her renter.

Considering the unoccupied intervals and other variables, the return is around two percent, based on the flat’s estimated value of $1.2 million.

“I’m only happy someone is taking it,” she said.

This is a small fall from the 3.7 percent gross median return registered a year before, based on median rents of $3.45 psf and median costs of $1,115 psf.

Savills Singapore Research Head Alan Cheong noted the decline in returns represents not only dropping a small increase in median costs, but also rents.

This may mean that considerable cash within the system is used to buy fixed assets. In an universe of doubt, individuals may have greater faith in possessing physical assets than other types of investments,” said Cheong.

“While there’s no denying the fact that (rental returns) are dropping, even after netting off expenses, there’s still a large spread between rental returns and interest rates.”