The PropertyGuru - Issue 12 Singapore Edition by Ryan Pham

The

PropertyGuru www.PropertyGuru.com

PROPERTY MARKET:

HOME FINANCING:

Spotlight on Malaysia

Mortgage Tips & Advice

Page 7

Page 14

MICA (P) 128/10/2011

Demand Down, Prices Up The 10 percent additional buyer’s stamp duty (ABSD) imposed in December 2011 has affected the demand for Singapore property, but not prices, according to Nicholas Holt, Asia-Pacific Research Director at Knight Frank. “Prices not only held up but actually increased slightly at the very top end of the Singapore market in Q1 2012,” he said. Holt added that this was not only due “to fairly resilient domestic demand, but also due to wealthy Chinese, Indonesian and Indian buyers who continued to buy in this segment of the market undeterred by the surtax”. Meanwhile, Knight Frank expects Singapore’s property market to be among the world’s strongest performers this year, along with London, Moscow, Jakar ta and Nairobi.

Inflation to Ease Singapore’s inflation rate is tipped to stay at five percent over the next few months before slowing down in the second half of 2012 to reach between 3.5 and 4.5 percent this year, said Lim Hng Kiang, Minister for Trade and Industry.

Issue No 12/2012

FROM OVERSEAS WITH LOVE Good property deals on offer from KL to London… > Page 11

Speaking in Parliament, he said that rising prices in the coming months will not hit consumers hard since car prices and rentals on owner-occupied properties are expected to be the two biggest contributors to the increase in the Consumer Price Index (CPI), which hit 5.2 percent in March. “As the majority of resident households in Singapore own their homes, they do not actually incur rental expenditure,” he said. “Likewise, the majority of resident households will not be directly affected by the rise in COE premiums as new car buyers make up a small proportion of all LOCK N STORE bottom banner ad_ver01c-FA.pdf 1 23/04/2012 5:35:53 PM resident households.”

CMY

Open Size: 538w x 370h // Closed size: 269w x 370h // Bleed: 5mm all round

INTRODUCING THE HABITAT OF THE FUTURE PART HOUSE. PART CONDO. ALL HABITAT.

A B

F P

F G H

BLK 7

H 02

Guard House Entry Court (Level B1) Lily Ponds Water Wall Pool Island BBQ/Party Lawn Tennis Viewing Garden BBQ/Social Areas Children’s Play Area

J K L M N O P Q

Reflection Gardens Tennis Court Leisure Pool Children’s Pool 50 Meter Lap Pool Contemplative Gardens Outdoor Exercise Space with Pool Showers Pedestrian Gate to Bus Stop

F 05

Bus Stop

BLK 9

I 10

O 18

Bishan Street 15

6_PropertyGuru_Spread370x538.indd 1

DEVELOPER: Bishan Residential Development Pte Ltd (ROC:201024057E) Developer’s LICENCE NO.: C0853 LOCATION: Lot 16900T Mk 18 at Bishan Street 14/15 TENURE: 99 years wef 30 May 2011 BUILDING PLAN NO.: A1267-00002-2011-BP01 dated 8 December 2011 and A1267-00002-2011-BP02 dated 17 February 2012 EXPECTED DATE OF VACANT POSSESSION: 28 February 2016 EXPECTED DATE OF LEGAL COMPLETION: 28 February 2019

AMK Hub ANG MO KIO

Visit us at: Bishan Street 14 www.skyhabitat.com.sg

KIO

AV E1

TRA

L EX PY

RO AD

Bishan Active Park

BIS HA N

Catholic High School

Bishan Sports & Recreation Centre

Bishan Stadium

PE R

Bishan Swimming Complex TH

O M

Bisha n

NT R

CEN

Ai Tong Primary School

Stree t

Bishan MRT Station

MAR YMO U

Call us: +65 6258 0087

ANG

Bishan Park

E ANG MO KIO AV

BISHAN

LORONG CHUAN

NEX

Bishan Bus Interchange

Australian International School

Junction 8

MARYMOUNT

Raffles Institution

Jointly developed by:

Bisha n

Stree t

Bishan Community Club

BISHA

N RO AD

Bishan Public Library

MacRitchie Reservoir Marymount Convent School

LORNIE RD

B RA D D E LL R D

Stamford American International School

8/5/12 5:22 PM

The

PropertyGuru

MANAGEMENT Steve Melhuish Chief Executive Officer Jani Rautiainen Managing Director

Can 0.1% be considered a decline? Romesh Navaratnarajah, Senior Editor, The PropertyGuru

James Sundram Senior Vice President, International Sales

After multiple rounds of cooling measures, private proper ty prices have fallen by just 0.1 percent in the first quar ter of this year. Is that considered a notable drop? Sorry if I don’t sound too excited.

Winnie Khoo Chief Operating Officer Jagannathan Janagyraman Head of Engineering Soon Tzer Chua General Manager, Sales

In fact, what many news stories failed to mention is that the price decline was not felt across the board. While prices of non-landed homes in the Core Central Region (CCR) and Rest of Central Region (RCR) slipped, prices of mass market proper ties in the Outside Central Region (OCR) have continued rising.

Sarah Baker Head of Products Douglas Gan Strategy Guru

PUBLISHER Osman B.S. osman@allproperty.com.sg

EDITORIAL Andrew Batt Group Regional Editor andrew@allproperty.com.sg

Meanwhile, the top end of the market not only held up but actually increased slightly in Q1, according to a repor t by Knight Frank.

Romesh Navaratnarajah Senior Editor (Singapore) romesh@allproperty.com.sg

The consultancy added that while foreign demand has been dented due to the 10 percent ABSD (additional buyer’s stamp duty) diluting their share in their market to just seven percent, many cash-rich Chinese, Indonesian and Indian buyers still continue to

Cheryl Tay Editor (CommercialGuru) cheryltay@allproperty.com.sg Tejaswi Chunduri Regional Analyst tejaswi@allproperty.com.sg

snap up luxury homes. I will avoid putting the blame on foreigners as this is a free market and anyone can buy the home of their choice. However, it does bring into question the theory of demand and supply which seems to have failed. At the same time, some industry watchers that I’ve spoken to say that the luxury market is small and traditionally not a Singaporean space, and hence won’t affect the majority of home seekers, but why shouldn’t citizens be given the oppor tunity to own prime proper ties? The good news is that the government is aware of what’s happening, especially with housing being a hot-button issue in the last election and will take action to cool the market if prices go crazy. We can then all rest a bit easier.

Romesh Navaratnarajah

Widyawati Sharkawi Editor (Malaysia) widyawati@homeguru.com.my Anto Erawan Editor (Indonesia) antoerawan@rumah.com Punika Thaipitakkul Editor (Thailand) punika@ddproperty.com

The PropertyGuru is Singapore’s Only Proper ty Dedicated Newspaper distributed on a Complimentary basis, for tnightly on Friday. It is also delivered to Residential Estates (HDB & Private) – direct via Singapore Post.

Michelle Yee Editorial Contributor

Exclusive Partnership:

(Editorial Assistants) Russell Lim russell@allproper ty.com.sg Samuel Wong samuel@allproper ty.com.sg

You may also get your FREE copy at these fine establishments & locations: Restaurants, Coffee Clubs, Delis, Bars & Cafes Social, VIP, Golf & Country Clubs Central Business Districts MRT vicinities Prime City & Hear tlands Shopping Belts MRT vicinities

Other fine distribution channels:

ADVERTISING

Private Medical Institutions within - Mount Elizabeth/Paragon Medical Centre/Gleneagles Automobile Showrooms Islandwide Selected Petrol Kiosks To subscribe to The PropertyGuru newspaper, please turn to page 43.

Bennett Seow bennett@allproperty.com.sg Belinda Koh belinda@allproperty.com.sg Jessica Goh jessicagoh@allproperty.com.sg

MARKETING Adeline Tan adelinetan@allproperty.com.sg

EVENTS Joel Lee Regional Head of Events joel@allproperty.com.sg

CUSTOMER SERVICE Loh Suet Yee suetyee@allproperty.com.sg

REGIONAL

VOX POPS

The Word From The Street Cheryl Tay asks members of the public: “Are you jaded by the government’s multiple rounds of cooling measures on the residential property market?”

(MALAYSIA)

Alyssa Pek alyssa@homeguru.com.my (THAILAND)

Natthanathorn Prapharot nat@ddproperty.com (INDONESIA)

Chris Antonius chrisantonius@rumah.com PropertyGuru Group 51 Goldhill Plaza #11-03/05 Singapore 308900 Tel: 6238 5971 Fax: 6534 4678 www.propertyguru.com MICA No. 2010689043 Print: KHL Printing (S) Pte Ltd Design: The Right Company Pte Ltd All content published in The PropertyGuru is protected under copyright laws. No content should be reproduced either in par t or whole without express written permission from Proper tyGuru Group. For licensing and syndication enquiries please email andrew@allproperty.com.sg. Currency conversions are provided for indicative purposes only. Every precaution has been taken to ensure all information is accurate. However, the publisher, its employees or agents accept no responsibility or liability for direct, indirect or consequential losses or damages resulting from the use of any information contained herein. All adver tising enquiries: osman@allproperty.com.sg

“Yes. Their effects can’t really be seen, especially for younger working adults who want to marry and buy their first home, the same people the government promised to help. Many of them won’t be able to afford their own homes due to high prices and foreign buyers will only cause the proper ty bubble to grow.”

“Not at all. I would like them to introduce more measures, so prices will decrease and I can buy a home. I’m only unhappy with the stamp duty. I’m not a PR (permanent resident), so I will be affected. But after I get my home, the measures should be reversed so the price of my proper ty will appreciate.”

“There have been too few cooling measures. The ones that were introduced have been ineffective in keeping even HDB flats affordable to the masses. The wealth gap in Singapore is quickly increasing due to inflation. As such, proper ty prices are far too high for those from the middle class and below.”

“No. Reducing the number of foreigners purchasing proper ty here is good for local home buyers and owners, as lesser demand means lower prices. Allowing too many foreigners to buy proper ty here will lower local buyers’ chances, especially in prime areas. The government should also waive proper ty tax for local buyers.”

Alessa Lee, 23, Banker

Anurag Prasad, 30, Lawyer

Eric Chee, 40, Project Coordinator

Lawrence Chee, 50, General Manager

The

PropertyGuru SINGAPORE MARKET NEWS

Private home sales: Why so high? Sales volume hits near 3-year high in April Various factors caused April’s private home sales, excluding executive condos (ECs), to hit 2,487 units. This is the highest figure since the sales volume peaked at 2,772 units in July 2009.

He added that buying trends have not been affected by the recent cooling measures, although the policies have created short-term speculation in the private property resale market. “The low bank borrowing interest rates and HDB upgraders’ interest had contributed and certainly helped boost the April sales figure,” noted Ismail. Chia Siew Chuin, Director of Research & Advisory at Colliers, observed that developers had shifted their focus to previously launched developments last month while delaying new launches to May, which could be attributed to the

WINS & ACCOLADES PropertyGuru has witnessed remarkable growth thus far and has amassed some notable milestones this year. Below is a list of a few key wins for Asia’s leading property portal.

By Romesh Navaratnarajah

“Not only did demand chase supply, it in fact exceeded it because new homes launched for the month only numbered 2,386 units,” said Alan Cheong, Head of Research at Savills, adding that the uptrend could indicate a stronger market. Mohamed Ismail, CEO of PropNex Realty, said: “It is clearly the HDB upgraders who are entering the private property market; these are genuine buyers with mid- to long-term perspectives sustaining the market in the first quarter of 2012.”

85% Low interest rates and strong demand from HDB upgraders boosted the market. amendments in the Housing Developers Rules. Following the four consecutive months that the market has shown improved performance, Jones Lang LaSalle (JLL) has revised its previous forecast for this year from 18,000 to 20,000 units, “provided no further policy measures are introduced”. Ismail expects this month’s sales figures to be around 2,500 to 3,000 units as developers have prepared a slew of new launches including ECs. However, JLL cautioned that “the risk of

further policy intervention to maintain more stable market demand cannot be ruled out. We hold our earlier position that the policy to curtail excessive demand of developers’ sales could come into the market within the next few weeks”. Colliers added that with no external risks and further policies, “strong demand driven by abundant oncoming supply of private residential homes is likely to drive overall take-up for new private homes in 2012 to beyond 16,800 units, toppling 2010’s record high of 16,292 units”.

Market share of PropertyGuru and CommercialGuru among property seekers in Singapore.

83% Percentage of all petrol kiosks in Singapore where you can pick up a copy of The PropertyGuru newspaper.

SINGAPORE MARKET NEWS

Singapore condos for sale under S$1 million Believe it or not, they do exist!

Quarterly Sentiment Surveys done by PropertyGuru.com.sg.

By Samuel Wong A number of private homes in Singapore are going for less than S$1 million, but their location and décor may not be on par with the pricier developments. However, these properties could end up being a good deal if they are located in an area that’s set to be rejuvenated or developed. According to Nicholas Mak, Head of Research at SLP International Property Consultancy, about 1,249 private units of 1,000 sq ft or more were sold below S$1 million from 1 January to 4 May this year.

PropertyGuru.com.my Newly rebranded website in Malaysia.

The figure includes new and resale private and executive condominiums (ECs). Mak added that most sales were for 99-year resale condos sited in suburban areas. Meanwhile, freehold properties were mostly located in city fringe areas such as Geylang. Ong Kah Seng, Director at R’ST Research, said that while homes priced below S$1 million could be found in the primary and secondary market, it is rarer in the former as the rise in land prices has forced developers to offer higher psf prices and smaller units. New homes that are at least 1,000 sq ft and priced below S$1 million are generally located

New projects in the north-east such as Riversound Residence in Sengkang are generally more affordable. in north-eastern areas like Sengkang, Hougang and Punggol. In the first four months of 2012, there were around 74 transactions at The Minton, a 99year leasehold condo at Lorong Ah Soo, while 36 transactions were recorded at Riversound Residence, another leasehold condo in Sengkang.

Upcoming condo developments in Pasir Ris also saw good take-up, with 24 and 12 sales recorded at The Palette and Ripple Bay respectively. “(These areas) are more valued propositions as the north-east promises exciting future growth while Pasir Ris is an established and refreshing resort-living area,” noted Ong.

LoanGuru.com.sg Now includes both commercial and overseas property mortgages.

The

PropertyGuru SINGAPORE MARKET NEWS

Your Voice In the last issue of The PropertyGuru, we featured a cover story on why many Singaporeans are asset-rich but cash-strapped. The headline read: “Are we ‘Singa-poor’?” (http://tinyurl.com/7p8aoue). The story drew many responses from readers. Here’s an edited summary of some of your comments that were posted online.

andy gan: “For those who want to be cashrich and asset-poor, please sell your units now. Take the money and go to Malaysia to buy property. There you can find cheap property and make a lot of money. But the price of your property won’t appreciate like it would in Singapore.”

Ong L: “Whatever the policies are, they only benefit married couples. Singles do not receive any grants or relief in any form.”

Singaporean: “Why stay here? Earn enough money and leave. Go to another place and semi-retire or retire fully. Life is short so enjoy it while you can. Why would you want to live in a tiny home when you are old? It’s so sad and pathetic the kind of lives that we are expected to lead when we are old.”

Shyam Vaswani (Leon): “Flat prices for one- and two-room HDBs must be controlled so that they reach a maximum price of S$500,000 and not more than that. This is meant for the elderly who earned S$3 a day back in the 1960s and 1970s.”

Daddy: “It is still better than no cash and no house, which is the case for many people in other developed and developing nations. At least the price of your house will appreciate and beat inflation even when you factor in the interest paid.”

Mr James Kwek Chai Choon: “Dear readers please do not place your hard-earned money with any government agency in this world – they are all ‘legalised Ponzi’ schemes.”

Each day, PropertyGuru publishes premium property news and features on its websites in Singapore, Malaysia, Thailand and Indonesia. Join the debate now at: www.propertyguru.com

Khaw addresses concerns on price hikes and shoebox units Government will not hesitate to intervene in the housing market. By Romesh Navaratnarajah Despite the encouraging signs brought about by the government’s property cooling measures, concerns still remain with regards to soaring mass market home prices and shoebox units, said Khaw Boon Wan, Minister for National Development. As of Q1 2012, there are 2,500 completed shoebox apartments accounting for 1.2 percent of the 210,000 non-landed units in the private housing stock. By 2015, the supply is expected to rise to 9,700. Mr Khaw said that many of the new shoebox homes will be located in the heartlands where their appeal among tenants is still untested as 80 percent are located in the central region. As for mass market properties in the OCR (Outside Central Region), prices have continued growing although it’s stabilising in the central region. “We will continue to monitor these developments closely and will not hesitate to take action, if necessary, to ensure that the housing market remains stable and sustainable,” Mr Khaw said.

Could the appetite for shoebox apartments exceed supply? Recent policies, which included five rounds of cooling measures, have helped to eliminate much of the speculative demand and ramped up the supply of private and public housing. In fact, private home prices declined marginally in Q1 2012 following nine consecutive quarters of moderate price increases. In addition, the proportion of sub-sales in the market fell sharply to around four percent.

The ABSD (additional buyer’s stamp duty) also helped dilute foreign buying in the residential market to just seven percent. “In the public housing market, most first-timers now have a chance to select a BTO (Build-toOrder) flat if they apply for one. HDB resale prices have also moderated, increasing by 0.6 percent in Q1 2012.This is the smallest price growth in recent years,” noted Mr Khaw.

TEJ SAYS...

Consider investing in Indonesia Foreign ownership of homes in Singapore has always been under the microscope and as a result, led to the implementation of stricter regulations. Data from the Urban Redevelopment Authority (URA) shows that more foreigners have been buying homes in the city-state in recent years (16 percent: 2011, 11 percent: 2010 and nine percent: 2009).

prices and stricter measures, more local property investors have been venturing overseas to look for better deals. It would not be a surprise if many investors chose Indonesia. In fact, in our quarterly consumer sentiment surveys, Indonesia has been regularly picked by respondents as one of the top five most popular property investment destinations.

The introduction of the additional buyer’s stamp duty (ABSD) in early December 2011 has curbed much of the overseas investment demand, but it has not stopped ultra-rich foreigners from snapping up the country’s luxury homes. In fact, many Indonesian billionaires are still keen on prime properties in Singapore. According to a recent report from Knight Frank Indonesia, around 60 percent of Indonesians who made overseas purchases chose Singapore and Australia.

Having said this, Indonesian property has suffered from relatively lower price performance over the past few years compared to other markets in the region. Despite strong economic growth, huge local demand and attractive commercial investment options, the country’s property sector has been affected due to a) high mortgage interest rates of 12 to 13 percent, b) foreign ownership restrictions, c) high cost of building materials, d) high taxes and e) government red tape.

Moreover, in the first four months of 2012, Indonesians accounted for 40 percent of the total number of homes bought by foreigners, driven in part by Singapore’s favourable investment climate. The most sought-after locations are in the central, north-east and eastern parts of the island. Mass-market homes in these regions may have been bought by PRs (permanent residents) for owner-occupation, while high-end homes are likely to have been purchased by foreigners who are wealthy businessmen looking for solid investments. On the other hand, due to rising property

Every country has laws to assist foreign nationals looking to buy property, but also has regulations to protect the interests of its citizens.This is also the case in Indonesia where foreign ownership of property is difficult and follows strict rules. Foreigners are not allowed to own freehold land. Nevertheless, they can acquire rights to land usage but not ownership rights. Currently, there are three common practices available to foreigners looking to purchase in Indonesia: a) through an Indonesian representative, b) through a Penanaman Model Asing (PMA) company, and c) through a leasehold title.

This means that foreigners can effectively have a lease agreement for up to 70 years and not own the property. Within this time period, they must also periodically renew their lease. The initial period is for 25 years, subsequently an additional 25 years and finally 20 years. However, in order to keep pace and be more competitive with other markets in the region and attract foreign investors, the country has plans to modify its current regulations on foreign ownership. Prohibition on land ownership may still remain in place as required by existing laws but are expected to come with longer leasehold periods and simplified right to purchase regulations. In addition, foreigners will be encouraged to own homes in Special Economic Zones (SEZ) such as Batam, Bintan and Karimun. Indonesia is a popular tourist destination and is increasingly seen as a holiday and retirement investment option. Provided the rules are further relaxed for foreigners, would you be interested in investing in Indonesia? Do write to me at: research@propertyguru.com.sg

Tejaswi Chunduri is Regional Analyst with PropertyGuru. For more information on Indonesian properties, please visit www.rumah.com

The

PropertyGuru

SINGAPORE MARKET NEWS

Malaysia is top investment choice for Singaporeans Proximity and cheaper prices are key attractions. By Widyawati Sharkawi Many prospective Singaporean buyers consider security and crime issues as well as being able to flip an asset quickly as major factors when buying properties in Malaysia. Steve Melhuish, Group CEO of PropertyGuru Group, noted that capital appreciation is another consideration for such buyers who have made money by flipping properties in Singapore’s robust property market. “Most of them ask ‘Can I make 20 to 30 percent per annum in capital appreciation?’ Although there could be capital appreciation, the answer would be ‘No’,” said Melhuish at a property panel discussion in Kuala Lumpur on 15th May 2012, held in line with the rebranding of Malaysian property portal HomeGuru to PropertyGuru. Malaysia rolled out measures to curb speculative activities, including a 10 percent real property gains tax (RPGT) on disposal within the first two

years of acquisition and five percent on the third to fifth years. However, many Singaporean buyers remain undeterred. In fact, Malaysia is their top choice because of its proximity and lower prices. Meanwhile, low rental yields have pushed Singaporeans to invest in larger cities like Kuala Lumpur, Johor Bahru and Penang. Veena Loh, General Manager at Malaysia Property Inc, noted that older condo units in Johor Bahru command lower yields compared to the newer ones which do much better. Meanwhile, more projects aimed at working adults and students are expected to be launched once Iskandar Malaysia reaches tipping point. With the rise of new infrastructure and a number of catalytic projects, investors are more confident to invest in Malaysia.

The rise of new infrastructure and catalytic projects throughout Malaysia has increased the confidence of Singapore investors.

SINGAPORE MARKET NEWS

World’s first Hermès apar tment unveiled

Fancy a resort home in the Bahamas?

Baha Mar devt to launch in Singapore Luxurious living room of the unit decorated by Hermès. Luxury property developer SC Global Developments has unveiled a private apartment at The Marq on Paterson Hill that’s been decked out by French brand Hermès - a world’s first. “We are extremely pleased this project with Hermès has presented a distinguished combination of craftsmanship, focus on design and finest quality materials,” said Simon Cheong, Chairman and Chief Executive of SC Global. “Each property and apartment in our portfolio is a jewel, we handcraft every unit and the project accomplished at The Marq is an epitome of these efforts.” The apartment is not for sale but SC Global will use it to host private engagements. Meanwhile, a media report said the developer recorded weaker profits from its ready-foroccupancy projects in Q1 2012, with less than half of the units released at The Marq having been sold.

Many investors in Singapore are looking at overseas proper ties as far away as Australia and the UK for their second home, but what about the Caribbean? Baha Mar, the largest single-phase resor t development in the Caribbean is planning to launch its luxury residences in Singapore from 29 June to 1 July 2012 and expects to see strong interest among Asian buyers. “Baha Mar is a special creation years in the making and will be a new game changer in the global luxury travel and enter tainment industry. We are excited to launch sales soon in Singapore,” said Sarkis Izmirlian, Chief Executive and Chairman of Baha Mar. Located in Nassau, the Bahamas, the 1,000-acre,

US$3.5 billion (S$4.4 billion) resor t, gaming and enter tainment complex is expected to open in late 2014. Within the resor t, Baha Mar plans to develop 300 highly exclusive, ultra-luxurious residential condos and villas that are available for private ownership. Richard English, Senior Vice President of Sales and Marketing said the development is designed “to make the most sophisticated modern Asian guests feel at home and it is also an incredible investment oppor tunity for discerning global investors”. Apar t from Singapore, the Baha Mar development will also be launched in Hong Kong, China and London.

The

PropertyGuru

COMPANY NEWS POWERED BY

PropertyGuru Unveils New Brand Identity for Malaysia Asia’s leading property portal looks to strengthen its presence across the causeway. By Widyawati Sharkawi

EXPERT INSIGHT… PropertyGuru Group CEO Steve Melhuish provides his views during the Expert Panel Series discussion in conjunction with the rebranding of HomeGuru to PropertyGuru in Malaysia.

OFFICIAL DEBUT... Steve Melhuish (2nd right) and John Paul Sta Maria (centre) are joined by (from left) Reapfield Properties CEO Gerard Kho, Ho Chin Soon Research Director Ho Chin Soon and Malaysia Property Incorporated (MPI) General Manager Veena Loh in the rebranding of HomeGuru to PropertyGuru in Malaysia. On 15th May, Asia’s leading property portal, PropertyGuru Group officially announced that its two existing websites in Malaysia were consolidated and rebranded as PropertyGuru.com. my. The integration of HomeGuru.com.my and Fullhouse.com.my into PropertyGuru.com.my is in line with the company’s commitment to make it easier for consumers to buy, invest and rent in Malaysia.

“With the rebranding to PropertyGuru in Malaysia, we are consolidating our resources to ensure we deliver maximum value and leverage on our strength in Singapore to grow regionally,” said Steve Melhuish, Group CEO of PropertyGuru Group. The move not only provides more effective branding for its division in Malaysia by tapping on the popularity of the PropertyGuru name, but also ensures overall consistency, ensuring that

EXCITING MILESTONE… Steve Melhuish and PropertyGuru.com.my Country Manager John Paul Sta Maria officially unveil the new brand identity.

INTRODUCING PROPERTYGURU.COM.MY… The PropertyGuru Group team usher in the new brand identity, PropertyGuru.com.my in Malaysia.

users across both markets will get the same quality property search experience when visiting the portal. Convenience is also a top priority for developers, real estate agents and advertisers who can now get more exposure whilst having greater control in managing their campaigns under one platform that is PropertyGuru.com.my. In addition, PropertyGuru Group will engage in an extensive series of advertising and publicity exercises

that will likely cost more than RM5 million (S$2.03 million), in a bid to further establish and strengthen its brand presence in Malaysia. In line with the rebranding announcement in Kuala Lumpur, a property panel discussion was held featuring a number of industry experts, including Melhuish, Reapfield Properties CEO Gerard Kho, Malaysia Property Incorporated (MPI) General Manager Veena Loh and Ho Chin Soon Research Director Ho Chin Soon.

The

PropertyGuru

SINGAPORE MARKET NEWS

Proper ty agent jailed 12 weeks for fraud First agent to be charged for using fake stamp certificates. By Russell Lim Desmond Tan Hock Heng, a 24-year-old property agent from Dennis Wee Group, was sentenced to 12 weeks in jail earlier this month for using fake stamp certificates.This makes him the first agent to be jailed under the Stamp Duties Act. According to a media report, Tan admitted to cheating the Commissioner of Stamp Duties of S$3,694 by using eight fake stamp certificates in seven property transactions. The stamp duty is a tax collected on documents or agreements relating to properties, including the option to purchase agreements, sale and purchase agreements and lease agreements. After the stamp duty is paid, a stamp certificate is issued.

Using a genuine certificate from previous deals, investigations showed that Tan forged eight stamp certificates by changing details like stamp duty amounts, the addresses of the properties, dates of documents and the names of tenants and landlords. He then presented the forged certificates to tenants, landlords and property agents of the landlords. Tan later deleted the fake and original certificates, but forensic teams at the Inland Revenue Authority of Singapore (IRAS) recovered the files from his computer. Separately, Tan was also sentenced to two weeks imprisonment after pocketing rental payments amounting to S$4,600 and S$3,600.

“Tan admitted to cheating the Commissioner of Stamp Duties of S$3,694.” The courts are coming down hard on rogue agents.

Special Advertising Feature

Better living with 3M Solutions for a more comfortable home.

Tested and certified by NSF International, a non-profit organisation, the filter cartridge is a specially formulated media that removes undesirable contaminants and effectively reduces over 85 percent of particulates more than 0.5 um in size. Meanwhile, the 3M™ Nomad™ Door Mat is a highly durable mat that keeps dirt out of your doorway and helps reduce cleaning efforts. It holds water underneath thus preventing any slips and falls. Cleaning the door mat is easy and fast, plus it is long-lasting which helps reduce costs.

SAY NO TO DRAB

3M’s latest offerings promise healthier, more comfortable living for the family. Home solutions provider 3M offers a variety of functional products that are durable, effective and safe, and helps make homeowners comfortable in their new home. One of their latest offerings is the 3M™ Prestige Window Film, which uses a patented technology called the Multi-layered Optical Film (MOF) that allows visible light to penetrate while selectively rejecting infrared and UV rays. It promises better performance compared to

darker tinted films in the market and there is no metal or dye in the construction which means that you don’t have to worry about corrosion, purple film, interference with wireless communication and mirror images. What’s more, it comes with a 15-year warranty.

HEALTHY WATER HEALTHY YOU The 3M™ Water Filter provides cleaner, clearer and better tasting water to rehydrate as well as

The user-friendly 3M™ Water Filter provides cleaner, better tasting water. keep the whole family healthy. The AP Easy Complete Filter cartridge is easy to maintain. In seconds, you can change the filter with a simple twist. Install it under the sink and get safer drinking water straight from your tap. With the LED monitoring device, you can also measure filter usage by time and capacity.

If you need to refurbish drab spaces in your home, go for 3M™ DI-NOC™ Architectural Finishes, a set of stain-resistant, wall covering laminate films designed for doors, walls and furniture. Apart from reducing renovation and construction time, the finishes also minimise and prevent waste while cutting on opportunity costs. You can find these products and more when you visit the 3M Interior Home Solution Centre at Jestac Pte Ltd - No.2 Kim Chuan Drive.

The

PropertyGuru

COMMERCIAL NEWS POWERED BY

Singapore under threat from Eurozone crisis Greek instability could impact financial markets. By Cheryl Tay Increased risk is expected to pose new threats to Singapore’s economy should the Eurozone crisis get out of control, warned the government. As a result, the Ministry of Trade and Industry (MTI) has kept its growth forecast at one to three percent this year, while there have been positive signs recently. In fact, the economy grew by 1.6 percent in Q1 from last year, driven by the construction and services industries. However, the MTI noted that the outlook for the rest of the year remains uncertain, given the weak chances for a recovery in the global economy. The surging growth in the US earlier this year seems to have faded while China has revised its growth prospects downwards. The Eurozone remains the biggest risk, as worries that Greece will default on its loans have burdened financial markets. Ow Foong Pheng, Permanent Secretary at the MTI, said changes in the Eurozone political

“The surging growth in the US earlier this year seems to have faded while China has revised its growth prospects downwards.” landscape “endanger promised reforms and crisis measures”. She noted that France has just elected a new President while the Greeks will hold polls next month. “The high level of uncertainty surrounding the euro zone’s political climate and fiscal outlook will continue to weigh on the global economy. This will in turn dampen growth in Singapore’s externally oriented sectors.” The MTI believes that ‘disorderly’ default by Eurozone members “cannot be ruled out at this stage,” noting that “if it materialises, there will be considerable downside for the global economy and Singapore’s externally oriented industries”.

Singapore’s economy is not out of the woods yet.

COMMERCIAL NEWS POWERED BY

CapitaLand’s Chongqing project on track Statement comes amid China’s deepest political turmoil since 1989. By Cheryl Tay

“CapitaLand is now working closely with the Chongqing Developed by a CapitaLand-led consortium, the mega project is located on a prime site in government to Chongqing. It will comprise a shopping mall and eight towers for hotel, serviced apartment, implement the project.” CapitaLand, Southeast Asia’s largest developer, has announced that its S$4.3 billion Chao Tian Men mixed-use development in China is “progressing as planned”.

residential and office uses, and has a gross floor area (GFA) of approximately 817,000 sq m.

CapitaLand’s statement follows the political uncertainty after Bo Xilai was forced to step down in March as Communist Party Chief of Chongqing. Chinese Vice Premier Zhang Dejiang, who replaced Bo, “expressed support for the project” during his meeting with senior CapitaLand and Singbridge executives earlier this month. “CapitaLand is now working closely with the

Chongqing government to implement the project,” said the developer. The Chao Tian Men project is a joint venture (JV) between CapitaLand, CapitaMalls Asia (CMA) and Singbridge Holdings. CapitaLand and CMA hold a 50 percent stake in the project while Singbridge, a wholly-owned unit of Temasek Holdings holds 30 percent. The remaining 20 percent is held by unnamed investors.

Chinese government gives its nod of approval for the mega mixed-use development.

The

PropertyGuru

COVER STORY

Is The Grass Really Greener Overseas? With high property prices at home, many Singaporeans are looking abroad to buy. By Andrew Batt

Many overseas properties are being launched in Asia first, which implies that Asian buyers have cash to spend.

ore than 400 overseas property deals are being done in Singapore every month, and that number looks set to increase as more developers look to tap into the local penchant for property. No official data exists for the number of Singaporeans who are buying overseas property. The figure of 400 deals every month – or more than 100 every weekend - is based on information gathered by PropertyGuru from recent exhibitions, and from talking to event attendees, property developers and agents. The landscape in terms of overseas property has changed drastically in just a matter of months. Malaysia, central London and Australia were previously the only real options that many Singaporeans were able to explore without leaving the island. Now, property investment opportunities from China, Thailand, the Philippines and the United States are regularly exhibited here, with the promise of more from new destinations such as Macau, Hong Kong, Taiwan and South America in the pipeline.

SWINGING UK The United Kingdom is also seeing far more opportunities from outside prime central London. In the last two weeks alone, projects from Bromleyby-Bow and Hendon have been exhibited in

Singapore. Property from the northern British city of Manchester is also expected to feature in a forthcoming exhibition. Australia is also seeing more interest from outside the traditional hotspots of Sydney and Melbourne, such as in South Australia. The importance of Singapore for overseas developers cannot be underestimated, and is highlighted by the regular global launches which take place here. Chelsea Creek, a luxury waterside project in west London, made its debut in Singapore a few weeks ago. The developer St. George picked Singapore ahead of Hong Kong for the worldwide launch of their new development on the back of strong sales of their previous projects. They were rewarded with what the developer described as a ‘significant’ number of sales of the S$1million – S$5million units. PropertyGuru understands the number to be in excess of 25 transactions.

COOLING MEASURES A FACTOR Many overseas developers have noted a significant uptick in interest following the introduction of the latest round of cooling measures in early December. Knight Frank Thailand recently reported that more Singaporeans were active on the Thai island of

Phuket during the first half of the year, attracted by the fact that property there – even though among the most expensive in Thailand – is still substantially cheaper than at home. Any further cooling measures might only drive more local property investors to put their money into bricks and mortar overseas, especially as

2012

Malaysia

JUNE

PropertyGuru will also be organising a number of upcoming international property events featuring projects from Malaysia,Australia and the Philippines, amongst others. Following is a calendar of events.

JULY

SEPTEMBER

TPS SG 21-22 July Orchard Hotel

TPS BKK 02-08 August Central Plaza Rama 9

MPS HK 16-17 June Grand Hyatt Hong Kong

Thailand

Singapore

more overseas developers are set to tout their properties and investment opportunities in Singapore during the coming months.

TIPS SG 16-17 June Orchard Hotel

PPS SG 14-15 July Mandarin Oriental

MPS - Malaysia Property Showcase TIPS - The International Property Showcase TPS - Thailand Property Showcase PPS - Philippines Property Showcase

The

PropertyGuru

Singapore Property Picks No matter where you live or want to live, there’s a development for you. Check out these new launches before making a decision on where to buy – you won’t regret it!

1919 Black and White Residences

Sophia Road Standing on over 25,000 sq ft of land at historic Mount Sophia, 1919 Black and White Residences is a 75-unit freehold development offering a variety of unit types from 1+1 bedders to three-roomers. The black and white facade of the proper ty harks back to the rich history of Singapore’s colonial era. Distinctive with its stylish and sophisticated interior, the project comes wellequipped with modern facilities such as a swimming pool and gymnasium. Residents can enjoy a cup of tea in the outdoor dining pavilion or take a walk through the cour tyard and appreciate the fine craftsmanship of the original shophouses. Nearby amenities include The Grand Cathay with its 590-seat cinema and Plaza Singapura shopping mall.

Blossom Residences

Seletar Park Residence

30 Segar Road

Seletar Road

A 99-year leasehold executive condominium (EC) nestled in the increasingly popular District

A 99-year leasehold low-rise project located within the established Seletar Hills private residential estate, it offers 276 units of one-to four-bedroom homes and is close to Seletar Aerospace Park. Designed by the acclaimed SCDA architects, this iconic landmark blends harmoniously with the green environment and allows you to connect with nature. Residents can also get around the island easily as there are major expressways nearby, as well as the Yio Chu Kang and Sengkang MRT stations in the vicinity. The area is also home to reputable schools like Nan Chiau High School and Rosyth School.

23; Blossom Residences is a 602-unit development that balances beauty and conveniences. Located near Segar LRT station which links to Choa Chu Kang MRT station, it is also wellconnected via major expressways. Residents will enjoy close proximity to parks and nature reserves as well as modern conveniences such as the upcoming Junction 10 mall. In addition, there are full condo facilities available such as a guard house, swimming pool, gymnasium and tennis cour ts, amongst others.

FLO Residence

Punggol Field Walk Located in Punggol, FLO Residence offers 530 residential units in a unique setting. The development comes with tenure of 99-years and offers a mix of two- to four-bedroom units. The clubhouse stands out as a striking masterpiece and is the focal point of the development, offering a confident and contemporary representation of Ear th, Sky and Water. Featuring a complete suite of recreational and fitness facilities, notable highlights include Giant Rain Showers, a water deck lounge and an Aqua Gym. FLO Residence is easily accessible via major expressways and is close to a number of educational institutions.

The

PropertyGuru

MORTGAGE & HOME FINANCING ADVICE POWERED BY

Compare and save on your home loan This article, the first in a series, will help to make it easier for prospective home buyers, by educating them on the basics of acquiring mortgage loans in Singapore. By Desmond Chua, Head of LoanGuru

HOW TO OBTAIN AN IPA Prior to getting a home loan, prospective buyers must first secure In-Principle Approval (IPA), an indicative mortgage approval based on the assumption that the customer’s income, credit bureau, liabilities, bankruptcy and litigation status are stable over a certain time period. The bank’s credit review also looks into the property type and its location. Once it has been determined that these credit decision facts remain unchanged, the bank will approve the loan which should not exceed the applied amount. Apart from would-be buyers looking for loans to finance their purchase, this service is also available to owners of commercial and overseas properties. The IPA is free and its validity varies from one to three months, depending on the bank. In addition, the IPA benefits property owners across different segments of the market, including consumers who are looking for new or resale homes or those seeking to refinance their current mortgage loans. Customers can request for an IPA from most Singapore banks, through their bankers, mortgage specialists, websites such as LoanGuru or even through banks’ Call Centres. Alternatively, customers can entrust a third party mortgage broker such as LoanGuru, an accredited member of the Mortgage and Finance Association of Singapore (MFAS), to put up the request. Homeowners need to know the home loan interest package that applies to them.The prevalent interest rate package in the market is the SIBOR package.

WHAT IS SIBOR? SIBOR (Singapore Interbank Offered Rate) reflects on how much it costs banks to borrow from one another and is determined by the Association of Banks in Singapore (ABS). The majority of mortgage lenders in Singapore provide SIBOR-based home loan packages while only two banks offer SOR loan packages. Published in major newspapers such as The Business Times and Bloomberg, the SIBOR is based on the results of a poll of banks conducted every Monday to Friday. Each day, the ABS obtains rates from 17 banks in Singapore and ranks them, excluding the top and bottom quartiles. Having a good understanding of the SIBOR is crucial in Singapore, given the complexity of the mortgage industry.With its transparency, the SIBOR rate has become a benchmark rate for residential home loans, commercial loans and even overseas

Where can you get the best mortgage deals in town? Ask LoanGuru.

property loans denominated in Singapore Dollars. In general, a Home Loan SIBOR Package is quoted as a one month or three month SIBOR with a certain spread added. As such, SIBOR packages are transparent and available in packages with or without lock-in periods. Example: 3 Month SIBOR +0.7% (Spread) = 0.386565 + 0.7% = 1.08656% 3M SIBOR as of 22/5/2012 = 0.0.38656%. Refer to LoanGuru.com.sg for the latest update. According to OCBC economist Selena Ling, the short-term Singapore Dollar will be fairly wellanchored given that the US Federal Reserve has committed to maintaining exceptionally low

interest rates until 2014. She added that by the end of the year, the three month SIBOR is expected to hit 0.45 percent, a slight uptick from the current level of close to 0.4 percent.

industry find it harder to obtain suitable loans as banks’ Letters of Offers are written in highly technical terms that cannot be easily understood by the average property buyer.

How LoanGuru can help

By applying for an IPA through a reliable mortgage broker like LoanGuru, buyers will save time searching for a suitable home loan. Meanwhile, LoanGuru’s consultants can also advise on intricate clauses such as the Commitment Period or relevant Commitment Fee for customers looking to take up SIBOR packages. The service is free and the public is encouraged to take up home loans with LoanGuru.com.sg.

At the same time, quick turnaround time coupled with trustworthiness and convenience are the most important factors when choosing a mortgage service provider. As long as they provide practical and unbiased loan advice through the principle of comparing interest rates, borrowers feel comfortable and would allow mortgage brokers such as LoanGuru to process their loan applications. In general, property buyers without prior knowledge and experience in the mortgage

For more information, contact LoanGuru.com.sg at (+65 6572 9299) to compare and save on home loan interest rates from 23 major local and international banks in Singapore.

The

PropertyGuru

PROPERTY INVESTMENT NEWS

Hot opportunities in an even hotter market! Long-term investors should look to Singapore’s property sector. By Romesh Navaratnarajah While many analysts see Singapore’s property market as being too hot to handle, some have highlighted its potential, especially for long-term equity investors.

Daniel Martin, an economist at Capital Economics Asia, noted that the government faces a crucial test in bringing down prices over the coming year.

Over the last three years, the government has introduced measures to cool the market, the most recent of which is the ABSD (additional buyer’s stamp duty) on foreign buyers to curb investment demand.

“If prices don’t start to cool in the next year, then we’re going to be in a fairly dangerous situation where there’s risk of a sharp fall,” he said.

Meanwhile, data from the Urban Redevelopment Authority (URA) showed that private home prices moderated by 0.1 percent in Q1. Sub-sale transactions, an indication of speculative activity, also dropped significantly. In general, it appears that efforts to stabilise the property market are working despite the ongoing demand for housing. Low interest rates and high liquidity pushed sales to a near three-year high in April, which could result in more policy intervention.

“My sense is they’ll go a little further and (require) more down payments on mortgages and standard capital requirements on banks — other macro-prudential measures that make it a little more difficult to buy a house.” Kristy Fong, portfolio manager at Aberdeen Asset Management, said that while share prices have re-rated this year, the firm is “still happy, and positive on our stocks long-term, because property tends to be a reflection of the economy, and we’re generally quite optimistic about the Asian region”.

Property tends to be a reflection of the economy, says one analyst.

PROPERTY INVESTMENT NEWS

China developers target Singaporean buyers Chinese property investment exhibitions are no longer a rare sight in the city-state. By Andrew Batt More Chinese property developers will be targeting Singaporean property buyers and investors in the coming months, heralding the start of a new wave of property investment opportunities within Asia for local buyers. The second property exhibition featuring commercial property investments in the Chinese city of Chengdu took place earlier this month and attracted a good degree of interest from Singaporeans looking at overseas property investments. Until now, Chinese property investment exhibitions have been a rare sight in Singapore, outnumbered by events featuring destinations such as Malaysia, Australia, Thailand, the UK and the US.

Property prices in China are still very attractive and have yet to reach their peak.

Janice Low, Regional Sales Director of the Centaline (Singapore) Property Agency Pte. Ltd, told PropertyGuru: “There is a lot of pent-up demand from Chinese developers who are looking to market their developments in Singapore.” She added that her company has already lined up developers from China, Hong Kong, Macau and

Taiwan for property road shows in Singapore. Low said that Singaporeans, as well as Indian and Indonesian permanent residents (PRs), are looking at places like Chengdu because the prices of property there have yet to reach their peak. “Buyers from Singapore know established destinations but they also like to look at newer

places,” she added. Centaline was marketing a Chengdu serviced apartment investment opportunity in what it described as China’s most prolific and dynamic investment city, which benefits from direct flights from Singapore.

Low stated that the vast majority of buyers who made a booking at a previous Chengdu event went ahead with their purchase after embarking on a tour of the city. Investment levels at the Neptune Center, in which Centaline has already sold more than 90 units throughout Asia, start from S$180,000.

SUBSCRIBE NOW TO SINGAPORE’S ONLY PROPERTY NEWSPAPER & GET IT DELIVERED TO YOUR DOORSTEP! Subscribers also enjoy exclusive invitations to Property Pre-Launch Previews, Property Events, Investment Seminars, Lifestyle Events & much more! PROMOTION PRICE FOR 1-YEAR SUBSCRIPTION:

$29.90 ONLY!

(*DELIVERED TO YOU TWICE A MONTH - 24 ISSUES A YEAR)

REGULAR FEATURES IN EVERY ISSUE: • LATEST MARKET NEWS ON SINGAPORE PROPERTY TRENDS • LATEST SINGAPORE PROPERTY LAUNCH SHOWCASE • INTERNATIONAL & REGIONAL PROPERTY SHOWCASE & EVENT NEWS • ALTERNATIVE INVESTMENT OPTIONS • INTERIOR DESIGN TIPS & SHOWCASE • HOME & LIFESTYLE TRENDS • HUNDREDS OF PROPERTY LISTINGS FOR RENT & SALE

TO SUBSCRIBE, EMAIL TO:

PLEASE MAIL YOUR CHEQUE TO:

subscription-tpg@allproperty.com.sg

THE PUBLISHER

PLEASE INCLUDE THESE DETAILS: NAME, DELIVERY ADDRESS, COMPANY NAME, YOUR DESIGNATION, HANDPHONE, HOME TEL. * Cheque should be written to : AllProperty Media Pte Ltd

AllProperty Media Pte Ltd 51 Goldhill Plaza #12-08, Singapore 308900 Please allow 2 weeks for delivery upon sending your payment. We will contact you once your cheque is received.

For more proper ty insights visit www.propertyguru.com PG-SubForm (23 April'12) 3.indd 1

8/5/12 6:57 PM

The

PropertyGuru

District 21 DISTRICT WATCH

In every edition of The PropertyGuru, we’ll be taking a closer look at one district in Singapore. We’ll be looking at the key buying factors and identifying properties worth a closer look. In this edition, Cheryl Tay shines the spotlight on District 21.

omprising the Upper Bukit Timah and Clementi areas, District 21 features various types of housing, from condominiums and Good Class Bungalows (GCBs) to HDB flats. While some Singaporeans may feel that the place is tucked away and inaccessible, it is, in fact, a self-sustaining district with retail amenities, reputable schools, nature parks and residences.

the district, while the Raffles Town Club along Bukit Timah Road offers recreational activities to its members.

those in Bukit Timah, making proper ty — especially private proper ty there highly sought after.

Furthermore, residents of the district can choose among Bukit Timah Nature Reserve, Clementi Woods Park and Kent Ridge Park for a much-needed respite from city life.

THE BEST OF BOTH WORLDS Of course, with such good prices, proper ty in District 21 has attracted not just owneroccupiers but investors as well. Apar t from prices, however, it is the district’s mix of commercial and residential amenities and bountiful nature which also lures buyers and investors.

As such, it’s not difficult to see why the district is attractive to expatriates, foreigners, PRs (permanent residents) and locals. Many expats as well as Singapore’s well-heeled citizens reside in Upper Bukit Timah’s GCBs and older, more spacious condominiums, while the mature estate of Clementi is home to many older Singaporeans and families whose children attend the numerous nearby institutions, such as Ngee Ann Polytechnic (NP), the Singapore Institute of Management (SIM) and Nanyang Polytechnic (NYP).

A GOOD ALTERNATIVE One of Upper Bukit Timah’s pull factors is its relatively more affordable proper ties, compared to the Bukit Timah area itself. Joanna Lam, Senior Sales Director (Resale Division) at DTZ (SEA) Pte Ltd, said: “Upper Bukit Timah provides easy access to good schools, especially for families who cannot afford prime Bukit Timah proper ties. There are also GCBs in this area which are being sold for cheaper than those in Bukit Timah and have therefore attracted many rich buyers who move in as owner-occupiers.”

The Clementi Mall, Beauty World Centre and Bukit Timah Plaza are just some of the malls in

She was quick to add that even condo developments in the area are cheaper than

According to Lam, “Not only are homes in District 21 cheaper than in Bukit Timah itself, the proximity of Beauty World and the MRT station being developed are all upsides to buying proper ty there. Moreover, being close to the Bukit Timah Nature Reserve and other nature parks has attracted “buyers who like a serene and natural environment”. Mont Timah is one proper ty in District 21 which has drawn a good number of buyers. The 99-year leasehold condo project is close to both the Bukit Gombak and Bukit Batok MRT

stations, as well as Beauty World Centre and Anglo-Chinese School (Secondary), making it ideal for both families and individuals who want to enjoy the exclusivity of a private home without having to sacrifice conveniently located amenities. Other developments in the area include Mayfair Gardens and 1 King Alber t Park. LOWER PRICES, HIGHER SALES While the government’s cooling measures are still in place and the proper ty market is never quite predictable, maintaining good prices seems to be a fail-proof way of continually attracting buyers and investors. This reality is not lost on Lam, who simply said, “My personal opinion? Anything that is affordable will continue to sell well!” It’s left to be seen if her words will ring true for the future of District 21 but for now, all is well and good for developers in the area. Continued on page 20

Clementi offers a mix of HDB flats as well as private homes.

Raffles Town Club members enjoy a wide range of activities and services.

Mayfair Gardens in District 21 is a 99-year leasehold condo with just 124 units.

The Clementi Mall is one of the main retail amenities in the area.

Mont Timah’s exclusive strata clustered homes have attracted many buyers.

The

PropertyGuru

Continued from page 18

QUICK FACTS Compiled by Cheryl Tay District 21 encompasses the Upper Bukit Timah and Clementi areas. Nature enthusiasts would definitely want to visit the Bukit Timah Nature Reserve and the Singapore Botanic Gardens. The former boasts rare species like the pangolin, while the latter features stunning Yellow Saraca trees, among a wide array of flora and fauna. Clementi has no shortage of nature itself. One can visit Clementi Woods Park and Kent Ridge Park for a leisurely stroll. House sizes in Singapore may be shrinking but Bukit Timah has a number of large condominiums and landed homes. A good example of a condo development with spacious units is Pandan Valley. Of course, any fact box about Singapore must include food. Family Makan Place at Clementi West Street 2 is a great spot for a hearty dinner or supper and features mainly Indonesian and Indian dishes.

The Botanic Gardens is a great place for a family picnic, as well as to learn more about its myriad flora and fauna.

Property Price Trends: District 21 By Tejaswi Chunduri

Source: URA, PropertyGuru

Source: PropertyGuru

The PropertyGuru says… • Average transaction prices psf for condos fell by three percent in Q1 2012 (y/y) while the average asking rental price psf rose by almost six percent during the same period. • Transaction prices psf for landed properties surged by 14 percent, while rentals grew by eight percent in Q1 2012 (y/y). • Based on caveats lodged by home buyers with the Singapore Land Authority (SLA), 176

homes were sold in Q1 2012 at an average price of around S$1,200 psf. Nottinghill Suites, Suites at Bukit Timah, Signature Park, Floridian and Gardenvista were some of the more popular projects. 25 landed proper ties were sold in the last quar ter at an average price of S$1,219 psf. Three proper ties in Binjai Crest with a remaining lease of 83 years were sold for just over S$2.1 million.

• District 21 comprises of Upper Bukit Timah and Clementi. Bukit Timah is known for its swanky condominiums and plush landed proper ties. With some of the most prestigious schools located in the region, District 21 is also considered an educational hub. • The median resale price for four-room HDB flats in Clementi is around S$495,000, while sublet rentals can range from S$2,000 to

S$2,700 per month. • An urban and swanky lifestyle in the midst of nature is one of the major attractions of this district. It is home to a number of nature parks like Bukit Timah Nature Reserve, Singapore Botanic Gardens, Clementi Woods Park and Kent Ridge Park to name a few. Popular eateries, shopping malls, coffee shops and public transpor t are all within close proximity.

The

PropertyGuru

EVENT NEWS

The International Proper ty Showcase coming in June! Exclusive event organised by PropertyGuru will feature premier overseas homes from around the region. By Samuel Wong The inaugural The International Property Showcase (TIPS) 2012, organised by PropertyGuru Group, Asia’s leading property portal, will be held on 16 and 17 June from 10am to 7pm daily at the Orchard Hotel in Singapore. The event aims to tap on the growing demand among property buyers and investors in Singapore for prime residential developments overseas. It will also provide an avenue for developers looking to generate additional revenue at a relatively low cost. Real estate agencies can also take advantage of the chance to build and expand their network to market developments to buyers and investors in Singapore. Around 30 exhibitors, including Malaysian firms Dijaya Corporation Berhad, Malaysia Resources Corporation Berhad and XL Vision Villas, as well as Knight Frank Australia Pte Ltd from down

under will be in attendance at the two-day event. In addition, property consultants, financial institutions and mortgage consultants will be on hand to assist with any queries. Apart from featuring exclusive overseas properties, the showcase will have expert speakers giving seminars on the advantages of investing overseas, the property outlook as well as where the hotspots are. The event venue - Orchard Hotel, is strategically located in the heart of Singapore’s CBD (central business district), and is easily accessible via the Orchard MRT station and Singapore Changi Airport. PropertyGuru Group is Asia’s leading property portal. Online traffic has grown by 168 percent in the last 12 months and it is currently ranked as the 8th most prominent property website in the world.

Approximately 30 exhibitors as well as property consultants and banks will be in attendance at TIPS.

The

PropertyGuru

FACETIME

Going Green in Singapore The PropertyGuru’s Senior Editor Romesh Navaratnarajah sits down with Mr Tai Lee Siang, President of the Singapore Green Building Council (SGBC) to talk about how the building industry is trying to become more eco-friendly.

Mr Chua Chen How(right), Honorary Treasurer of the MDIS Council, which has adopted green practices, receiving the Reader’s Digest Trusted Brands Award from Mr Tai Lee Siang.

pholding environmental consciousness is a major initiative adopted by most industries globally. Singapore, despite its lack of resources, has been at the forefront of this eco-battle. For instance, the city-state’s building and construction industry continues to work on measures and strategies on saving energy, in a bid to maximise and conserve the country’s limited resources. Through the years, the Singapore Green Building Council (SGBC) has been an active promoter of buildings that are energy-efficient.

MORE AWARENESS Tai Lee Siang, President of the SGBC, reckons that this endeavour can be traced back to as early as the 1970s and the 1980s, when Singapore buildings were already being made to comply with energy-efficiency laws. He added that while there was greater awareness of green buildings in the 90s, the Building and Construction Authority (BCA) only star ted to push for this and followed up with the legislation of laws in the 2000s. Consequently, the then voluntary green mark scheme applied for by buildings has

become mandatory to fur ther encourage proper ty developers to adopt green measures. Under this policy, government buildings will be transformed into green buildings first while private buildings should be green mark cer tified. With the BCA green master plan, about 80 percent of existing buildings are targeted to be transformed into green buildings. How it works is the energy auditor and building surveyor will conduct energy auditing, after which cer tain technology will be implemented to help the building go green.

Meanwhile, Tai believes that a collaboration of effor ts between the government, industry, community and end-users will help them achieve this vision. The SGBC is actively coordinating with the government to promote the green building philosophy. International green building exhibitions are organised which have two components: a major forum where speakers can share their green knowledge and an event that showcases green products. Apar t from that, the Green Building Professional Award, which was held this month, recognises exemplary talent in the industry.

The

PropertyGuru

MDIS is one institution that has gone green. As part of its eco-initiatives, rainwater collected in these special structures is stored in tanks to be used for watering landscaping vegetation on campus. At the same time, they are also working with the manufacturing and product industry to ensure that all building products being used in Singapore are green. STARTING YOUNG At the community level, one notable initiative is Project Green Insight, done in collaboration with IBM to install smar t meters in schools to monitor energy usage. Through the meters, students can learn how to be more energyefficient. SGBC understands that changing the behaviour patterns of the younger generation is a long-term strategy to attain an eco-friendly lifestyle. As of now, there are a number of green buildings that stand out in Singapore. The ZEBZero Energy Building @ BCA Academy was once an old building which was converted to a zero energy building, through the use of passive and active technology. Another stand-out is the National Library Building, which was designed to provide comfort to library users. It makes use of daylight to brighten up the space but removes solar heat. Meanwhile, the upcoming Gardens by the Bay uses passive and active technology to power suitable temperate climate conditions that helps nurture plants. The attraction will use bio fuels and solar power to generate energy that will maintain its cool temperature. STILL SOME WAY TO GO Inevitably though, there are a few roadblocks to attain SGBC’s vision.

For one, proper ty costs and inflation are usually the main challenges faced by developers when complying with green measures. But Tai believes that the “rise in proper ty price has nothing to do with infusion of technology - simply it’s demand and supply. With higher density in Singapore, real estate prices will go up. If it’s because of price that one decides not to make buildings green, then that is sad”. Reader’s Digest once repor ted that Singaporeans are more likely to buy greener products. With this as a star t, the SGBC will intensify green building promotions even further to see long-term effects. “People who are below 25-years old already have that awareness and willingness to buy new green proper ties. No doubt that in 10 to 25 years, customers will pick green products,” noted Tai. He added that students should also be encouraged to enrol in good institutions that are green. “Green is synonymous with a sense of social and corporate responsibility. All organisations have to embrace it.” While the vision of seeing every building go green seems rather daunting, Tai is looking on the brighter side. “I think Singapore should aim to be the most eco-friendly or sustainable city in the world. If that is our goal, then all real estate in Singapore will be green. All existing buildings must have plans to go green. All components in the building should be green.”

Mr Tai Lee Siang, President of the Singapore Green Building Council.

The

PropertyGuru

BEYOND OUR SHORES

Searching for good property investments outside Singapore but don’t know where to start? Don’t fret - The PropertyGuru has scoured the region for the most promising overseas launches to help you find your dream abode. Setia Sky Residences

Kuala Lumpur, Malaysia Setia Sky Residences occupies nearly six-acres of freehold land and stands 40-storeys high. Each residence from Level 6 to 39 (except studio units) will have its own private lift lobby and a spectacular view of the surrounding city skyline. Residents will enjoy the grandeur of a six metre high grand lobby as they enter it. Facilities spread over 120,062 sq ft include the Sky Decks on Level 5, while the Sky Clubs on Level 34 will feature a yoga room, Sky Gym, Sky Villa, infinity pool, Jacuzzi, cigar lounge, wine cellar, billiards room and spor ts lounge.

Karon Hill

The Unity Patong

Phuket, Thailand

Karon Hill is a luxury condominium project nestled in the hills surrounding Karon Bay on Phuket’s sunset coast. Karon is one of the most famous resort districts in Phuket, surrounded by many world-class resor ts, restaurants and shopping amenities. Its apar tments feature large en-suite bathrooms, fully-equipped kitchens and floor-to-ceiling living room and bedroom windows leading out to balconies with stunning, uninterrupted sea views. Karon Hill is just five minutes from the enter tainment, nightlife and beaches of Karon, Kata and Kata Noi. Major golf courses and other popular attractions on the island are about 15 minutes away, while Phuket International Airport is around 40 minutes away by car.

The Unity is a new development in Patong, close to the beach and Patong’s thriving nightlife. Residents can enjoy privacy while living on a pearl of the Andaman. Modern condominium units include studio and one-bedroom layouts across a seven-storey building with beautiful sea views. Each unit offers open living areas and sizeable bedrooms, while the kitchens are fully equipped with modern appliances and air conditioning, kitchen sets and sanity wares. The Unity is only five minutes to Patong Beach, Patong Nightlife Center and Patong Hospital, as well as 20 minutes to the Phuket City Center, Central Festival Phuket and Tesco Lotus and 45 minutes to Phuket International Airpor t.

The

PropertyGuru

Shell Residences

Pasay City, Philippines Shell Residences consists of four L-shaped towers on a 2.2-ha proper ty, inspired by a modern tropical theme. Featuring one-bedroom, one-bathroom units, it also includes a clubhouse, vast modern tropical garden, grand lobbies and a jogging path, making it ideal for rest, recreation and relaxation. The condo development is located near the Philippine International Convention Center, San Juan de Dios hospital, De La Salle University, the SM Mall of Asia and Makati’s CBD, among many other amenities. Residents can enjoy the beautiful sunset on Manila Bay, as well as the convenience of city living.

Adagio Apartments

Per th, Western Australia Adagio Apar tments is the first ever eagerly anticipated riverfront building within the landmark Symphony City development in Per th’s most prestigious inner-city location. Comprising 115 luxuriously appointed two- and three-bedroom apar tments with uninterrupted panoramic views of Swan River, Adagio is destined to become Per th’s definitive apar tment complex in one of the city’s most sought-after locations, thanks in no small par t to its five-star resor t-style facilities, which include a 25m heated pool, residence game and lounge rooms, a gymnasium, theatrette, meeting rooms and function room facilities.

North One

Per th, Western Australia Nor th One is par t of the renowned Subi Centro project, arguably one of Australia’s most exciting and acclaimed urban redevelopment projects. Located at the corner of Salvado Road and Station Street, it is literally walking distance from the best that cosmopolitan Subi has to offer — Patersons Stadium, Subi’s restaurants and shops. The 88 apar tments at Nor th One include one- to three-bedroom units, as well as four luxurious penthouses. Facilities include a fully-equipped gym with a steam room, rooftop terrace, residents’ lounge, outdoor herb garden and an indoor/outdoor communal Masterchef-style kitchen called The Loggia, by Rob Broadfield.

The

PropertyGuru

UK MARKET FOCUS

At home in the country Country properties in the UK are seeing an Asian invasion. By Andrew Batt Although the preserve of the superrich, the country homes market in the United Kingdom (UK) has been attracting increased levels of interest from buyers in Singapore, and throughout Southeast Asia in general. While property prices in London are booming, the country house market has struggled somewhat to gain traction. Liam Bailey, Head of Research at Knight Frank in London, said that prime country house prices normally start to rise around 12 months after London prices begin to take off. The prime and super-prime (£5 million +) (S$10 million+) country house markets have been tracking UK mainstream prices for the past two years rather than central London prices. There are three key reasons for this divergence between prime London and prime country homes. Firstly, international buyers are just not as important to the country market as they are in London. Fewer than 65 percent of the £5 million + (S$10 million+) country house buyers are British, compared to barely 40 percent in London. This more domestic market has not been influenced by the weak pound which has super-charged the London market by drawing in buyers looking to spend their dollars and euros. Tom Hudson of Middleton Advisors recently took on the complex task of relocating a discerning British family from Singapore, where they had lived for almost 30 years, to the South of England. He said: “The search spanned six or seven counties and lasted 18 months, with Middleton Advisors operating on the family’s behalf to shortlist properties suitable for viewing during their visits to the UK. The result was the successful acquisition of a beautiful family house in West Sussex, one of the best country houses of its kind not only in West Sussex but across the South of England.” Hudson said there are two types of buyers – those who are looking for a house that they can use for themselves to perform a key function behind their need to be in the UK – often related to work or school for their children. These buyers tend to like the ‘international’ way of living with large gated developments and some adjacent to facilities. Then you have the buyers who are looking to buy in the UK and the driving force is the house itself. When this is the case, you often get buyers moving slightly further out to find the house that they have been imagining for years – be it a red brick Jane Austen rectory in Hampshire or a beautiful sporting estate in the West Country.

Asian buyers of country homes in the UK remain few and far between, but more have been turning their attentions to this sector in recent months.

Defining the super-prime country house market According to Knight Frank, it is generally accepted that the prime country house market is made up of properties priced £1 million (S$2 million) and above across the UK, a little more in the South East, and a little less in the Midlands and the North. Knight Frank defines the super-prime country market as that featuring properties priced £5 million (S$10 million) and above. Excluding a rare number of prestige estate sales, the £10 million (S$20 million) to £20 million (S$40 million) bracket is dominated by areas neighbouring London. The top tier of sales, those above £20 million (S$40 million), are infrequent and are almost always located within a 45-minute drive of central London. The typical buyer in the super-prime country house market is an average age of 48, with 44 percent of buyers being in their 40s, 36 percent in their 50s, and perhaps a surprising 13 percent in their 20s and 30s. While cash buyers make up 40 percent of the market, compared to 32 percent in the sub-£5 million (below S$10 million) country market, this figure is skewed as we know

Country homes in the Surrey village of Virginia Water have been a popular buy for overseas property investors in recent years. that many buyers will acquire a property in cash and then look to arrange a mortgage later so that they can release cash for other investments.

Buyers from the UK account for more than 60 percent of purchases in this sector. Those from Asia make up just 2.5 percent.

The

PropertyGuru

SPECIAL ADVERTISING FEATURE

Eco-innovation in ECONAVI style

With Panasonic’s ECONAVI range of home appliances, you can adopt a green lifestyle without sacrificing comfort. Panasonic, known for its innovative and energy-efficient home appliances, offers its ECONAVI range which caters to those who want to adopt a smart, eco-friendly lifestyle. The range is an expansion of Panasonic’s wide selection of products that bring comfort, convenience and energy savings to homeowners in Singapore and abroad. The revolutionary ECONAVI makes use of intelligent sensors in electrical appliances to detect and adjust in different usage conditions. As with Panasonic’s current product range, the advanced feature sets the bar even higher for electronic and home appliances. More consumers are adopting a green lifestyle to help save the planet. But some of our home appliances are inevitably left on, and as such electricity is wasted. Well aware of consumers’ needs, Panasonic presents ECONAVI, a new line up of eco-friendly products that help improve one’s lifestyle while not compromising the welfare of the environment.

Is Your Washing Machine Using Too Much Water for Small Loads? A common problem that the ECONAVI range addresses is matching ideal energy saving settings to the load and water temperature of washing machines. The ECONAVI “Top Load and Front Load” washing machines use their sensors to automatically detect conditions before selecting the optimum settings to consistently ensure an effortless and eco-friendly washing experience. The ECONAVI washing machines are water-efficient, as they adjust the amount of water used according to the laundry load. They automatically select the appropriate volume of water for the load, detecting the amount of clothing through the Load Sensor. Compared with the conventional washing machines, they save up to 45 percent of water and 40 percent of energy consumption. In addition, the Temperature Sensor can help to determine how easily detergent can be dissolved and selects the required timing, reducing overall washing time. As a result, laundry can be thoroughly washed and cleaned, even in a short period of time. - ECONAVI top load washer models available (NA-FS16X2 / FS14X2) - ECONAVI front load washer models available (NA-140VX3 / 140VG3 / 148VG3)

The

PropertyGuru

Is Your Refrigerator Counting the Number of Times You Open the Door? Another everyday appliance given an eco-friendly update in the ECONAVI range is the refrigerator. One of the busiest appliances in any home, the refrigerator uses electricity 24 hours a day and is therefore a prime candidate for improvements in energy efficiency. The ECONAVI refrigerator automatically detects and stops excessive cooling, using a Door Sensor and Lighting Sensor that can efficiently suit a family’s lifestyle needs. The refrigerator employs four types of sensors that monitor door activity, internal / external temperatures, as well as ambient light conditions. A sensor will learn and predict how often its doors are opened, as well as detect room brightness, allowing the refrigerator to operate at optimum power while keeping food fresh. Once the lights are switched off, its cooling power is also automatically reduced. To detect whether the refrigerator is being used or not, its sensors rely on surrounding brightness. These patterns determine when the refrigerator is used, allowing it to control its internal temperature. As it adapts to the family’s habits, it also adjusts cooling to maintain just the right temperature. - ECONAVI 2 Door fridge models available (NR-BW415 / BW465 / BY552 / BY602) - ECONAVI 6 Door fridge models available (NR-F605T / F555T)

Does Your Air Conditioner Think a Large Party and an Individual are the Same? Adopting a green lifestyle should not come at the expense of living comfortably. The ECONAVI air-conditioners also feature an intelligent Human Activity Sensor and Sunlight Sensor technologies which detect and minimise waste levels by optimising air-conditioner operation depending on room conditions. One touch of a button can save energy efficiently with uninterrupted comfort, cooling and convenience. With their inverter technology, the ECONAVI air-conditioners provide high-precision methods of maintaining the set room temperature by varying the rotation speed of their compressors, which results in energy savings of up to 50 percent. As such, one is able to enjoy refreshingly cool air and reduce energy consumption by half at the same time.

In addition, the new nanoe-G technology purifies the air and its surroundings. To do so, nanoe-G utilises nano-technology fine particles. It works effectively on airborne and adhesive micro-organisms, including bacteria, mould and viruses, to ensure a cleaner living environment. These technologies are part of Panasonic’s Eco Clean Life Innovation, which aims to help preserve the environment while continuing to bring comfort to one’s life. With these new technologies, Panasonic further reinforces its commitment to integrating the latest technologies into new high-end appliances which do not only provide maximum comfort for the whole family but also help to preserve the environment in the longer term. - ECONAVI air conditioner models available (CU-3S27MKZ (outdoor) w/min.2x fancoil units (indoor): CS-S9NKZW / CS-S12NKZW / CS-S15NKZW / CS-S18NKZW)

The

PropertyGuru

SPECIAL ADVERTISING FEATURE

Caesarstone: A Eurocucina Standout At this year’s Eurocucina Exhibition in Milan, Caesarstone made waves among industry professionals and guests alike.

Caesarstone’s all-white kitchen wowed the crowds at this year’s Eurocucina Exhibition. Reinforcing its leadership in the surfaces market, Caesarstone stood out as the only company in its industry to attend the recently concluded Eurocucina Exhibition 2012 in Milan.

for years to come as it is easily adaptable and can take on whatever style you desire. A clean, bright, not to mention spacious, look never goes out of style.” While others may think that white is a high-maintenance colour, Caesarstone’s 1141 Pure White is actually “low in maintenance and takes minimal effort to keep it looking like new”.

The global pioneer and leading maker of high-quality quartz surfaces is the very first building materials company to feature at the International Kitchen Furniture event, exemplifying its commitment to inspire consumers, designers and architects.

BATH TIME CHIC Additionally, two exceptional full bathroom concepts were showcased for the first time. In the first bathroom, Concetto White Quartz was used to create a stunning effect with back-lit surfaces, including the walls, floor and vanity bench.

The stunning quartz surfaces are available in a variety of new colours and textures that can provide a diverse range of applications to home décor. “Our kitchen booth, which was designed by Caesarstone, made a lasting impression on the thousands of designers and international industry professionals in attendance,” said Margaret Moroney, Regional Sales Manager - Southeast Asia at Caesarstone S.E.A. Pte Ltd.

The second bathroom made use of the Classico colour range on its vanities, walls and even bath.

A LASTING IMPRESSION The Classico bathroom combined modern design with classic finishing.

WHITE POWER Using Caesarstone’s Pure White range, the fully functional white kitchen was fitted with cabinets and drawers all covered with Crocodile, an embossed, textured surface which is part of the Motivo line. “Pure White is exclusive to CS and Motivo is our patterned textured range and is really like nothing else on the market,” said Moroney.

“I think this event really allowed Caesarstone to prove that we are not just a stone company. The kitchen reflected our vision of the company itself: Innovation, sophistication, forward-thinking design, and unique applications. We have always encouraged our customers to be inspired and to create their own extraordinary spaces. Being a part of such an internationally acclaimed event was truly an incredible experience,” said Moroney.

The range uses two different finishes to give it a 3D appearance and unique design. Moroney said that white was the colour of choice, as it can be very elegant and chic. It can make an incredible impact and create the illusion of more space. There are limitless possibilities of a simple white décor because you can choose to use it alone or combine with any other colour. “In addition, an all-white kitchen can remain classic

There was an overwhelming response from the hundreds of guests who visited the booth each day during Happy Hour, where they enjoyed food and beverages and were accommodated by representatives from 44 international Caesarstone divisions.

The Concetto White Quartz bathroom used back-lit surfaces to stunning effect.

The Eurocucina exhibition is Europe’s most popular and prestigious trade show and features up to 150 exhibitors in the industry. It is part of the larger Saloni Exhibition at the Milan Fairgrounds, an event that brings together top Italian and foreign manufacturers.

TEKA AD.indd 1

TEKA SINGAPORE PTE LTD

3/6/12 11:14 AM

The

PropertyGuru

The façade of this four-storey Upper Serangoon terrace home belies an urban retreat inside.

The

PropertyGuru

TROPICAL REDUX 2Form Interior Design presents a bold yet refined take on modern tropical living with the interior of a terrace house located in Serangoon. By Michelle Yee

The open concept kitchen also serves as a dining area with a pleasant ambience.

estled within the quiet, leafy estate of Upper Serangoon, this four-storey terrace home hides an urban retreat within. The idea of tropical living has many connotations, especially so in Singapore. For some, it conjures specific images of the heavy Balinese aesthetic and, for others; it evokes a palette of wicker and rattan amidst lush greenery. And for yet another group not unlike the owners of this house, the idea of tropical living is about an experience of light, space and textures more than it is about a particular look. “The owners specifically requested for a home that would exude a tropical feel – very open, very natural, but also very modern,” said Michael Wong, Head for Residential Division at 2Form Interior Design. While the exterior of the house offers a façade of smooth planes and cool concrete, its interior is unmistakably warm. Colours and materials have been embraced in the residence and juxtaposed adeptly, organised in harmony with one another. Wong also focused on creating zones within the house to balance its volume with an intimate feel in each space, while furniture and art have been thoughtfully selected and integrated into the entire composition.

OPEN SPACES A clean and streamlined palette of modernity underlines the living area. And while this often carries with it the risk of having a space that feels bland and uninteresting, Wong’s skillful use of materials as textural punctuations comes into play nicely here. “It helped that the clients have good taste and that they allowed us to be quite bold with our choice of materials. Our part, then, was to create a well-detailed design foundation that the owners can build over time,” said the designer. What better canvas than one coloured with natural light. The living area is an airy and open one that is privy to a deluge of light during the day thanks to glass sliding doors that edge the space. When pushed aside, the glazed doors easily extend the living area out towards the patio by the side of the house, creating a causal inside-outside relationship. Inside, the living area is a relaxed but elegant set-up grounded in a warm colour palette that emphasises the openness of space. A generous sofa set that comfortably seats four persons forms the functional crux of the space.

“The owners specifically requested for a home that would exude a tropical feel – very open, very natural, but also very modern.”

The

PropertyGuru

AN EYE FOR DETAIL Wong was eagle-eyed in crafting the interior and its nitty-gritty details. “We were very particular about customising every single detail in the house to enhance the overall look, and also to give it a personalised touch.We changed the windows and doors, tinted the staircase railings black, specially chose the individual lightings for the entire house and also used white window blinds instead of the usual timber blinds, to give it a modern touch and also to ensure everything came together seamlessly.” “One of the things we wanted to achieve here was a very timeless kind of design. We didn’t want it to be so trendy that it loses its appeal very quickly,” Wong explained, pointing to his choice of materials within the house. This notion of timelessness also lends itself to yet another focal point within the living area. Instead of leaving the bare white pillars as it is, Wong wrapped the pillars with timber-veneered panels that present itself as a sculptural installation of sorts.

KITCHEN CULTURE Further in, the entire kitchen area has been hacked down and rebuilt as the homeowners specifically requested for an open concept kitchen that would double up as a dining area. Here, a long dining table that accommodates six people has been adjoined to a bespoke counter that makes food preparation and cooking effortless.This communal set-up is the perfect scene for good food and great conversations.

LOFTY SETTINGS The mood changes noticeably as one progresses into the private areas of the house. In particular, the master bedroom takes on a more intimate feel, thanks to the liberal use of warm timber. Within this space, Wong also constructed a walk-in wardrobe for the couple, which doubles up as a study area. With its fluid orchestration of spaces and a well-edited range of textures and materials, the house pays homage to the notion of living in the tropics, but not in an overly obvious way – which is truly refreshing to see.

2Form Interior Design Pte Ltd 18 Boon Lay Way #01-98A/#01-111 TradeHub 21 Singapore 609966 www.2form.com.sg The living room’s glazed sliding doors lead out to a spacious, airy patio at the side of the house.

Q&A With Michael Wong Michael Wong Head for Residential Division 2Form Interior Design Pte Ltd Q. How long did you take complete the entire project?

A. The entire project took the team approximately six months to complete, although we felt that it would have been faster if A&A (alternation and addition) works weren’t required. The A&A works that were done to this house are, the addition of a bathroom for one the bedrooms on the uppermost floor and also extending the floor area for the same bedroom to create a walk-in wardrobe cum study area enclosure for the owner’s daughter. Q. Were there any hiccups during the project and how did you go about solving it? A. Thankfully there weren’t any major hiccups. If any, I would say they were more like challenges.

They key challenge here was to bring in more natural light to the dark and gloomy stairways while minimsing the damage to the existing roof. Nonetheless, with careful planning, the work was carried out diligently and professionally, and eventually, we managed to deliver excellent results that exceeded our client’s expectations. Q. How would you describe the working relationship between client and designer? A. As every designer and architect would say, a great project can be made possible only with a great client, and this was the case for us. The client was very agreeable and responsive to our ideas and concepts, and allowed us to work on this project without compromise. I would say that we had a cordial and cooperative working relationship.

The

PropertyGuru

Corporate Classified Ads

For SAle - the ADoBe At DevonShire (D09)

For SAle - St thoMAS SuiteS (D09)

For rent - gooD ClASS BungAlow @ CABle roAD (D10)

S$1.95M (Neg), 1012 sqft, 2 Beds 3 Baths. Freehold unit on high floor, lovely view and mins to Great World City and Somerset MRT.

S$4.9M (Neg), 2013 sqft, 4 Beds 4 Baths. Min to Somerset MRT with gorgeous unblocked paroramic city views.

S$48,000/mth(Neg). 5 Beds all en-suite (with att bath), Dry & Wet Kitchen, 2 Storey + Attic Good Class Bungalow with Swimming Pool, Fully AC.

evAn Chung (65) 9857 1055

For rent - horizon towerS (D09)

CluSter houSe For SAle - the ShAughneSSy (D27)

ConDo For SAle - eight riverSuiteS (D12)

Corner terr For SAle - plAtinA roAD (D27)

S$1.8M. 3304 sqft. 99yrs. 5 Beds 5 Baths. Shuttle bus service. Park/Greenery View. Balcony. Roof Terrace. 2 Private Carpark Lots. Full condo amenities.

S$917K, Guide Price. 99yrs. Units: 1 Bed, 1 Bed loft, 2 Beds, 2 Beds+1 3 Bed/3 Bed compact, 3 Beds dual key, 4 Beds, Penthouse, Townhouse.

S$2.95M (Neg). Freehold. 6 Beds 5 Baths. Brand new 3 1/2 storey corner terrace at Platina Road. High ceiling at 1st flr. 2 parking lots. TOP 1st Quarter of 2013.

S$1.2M (Neg). Freehold. Spacious 4+1 freehold unit with 2 bathrooms ensuite. Full condo facilities. Convenient shuttle bus service to Yishun MRT, Chong Pang Market and Sembawang Shopping Centre.

MArie luM (65) 9113 2134

KingSley Choo (65) 9125 0130

ApArtMent For SAle - MArinA BAy SuiteS (D01)

ConDo For SAle - MAlvern SpringS (D15)

For SAle - the SAil @ MArinA BAy (D01)

ApArtMent For SAle - CASpiAn (D22)

S$4,062,6M, 1572 sqft, 3 Beds 2 Baths. 99yrs. Magnificent views to Marina Bay. Finest dining outlets, shopping and entertainment experiences in Singapore.

S$5,950,8M, 1572 sqft, 4 Beds 3 Baths. 99yrs. Magnificent views to Marina Bay. Finest dining outlets, shopping and entertainment experiences in Singapore.

S$1,958M. 2099 sqft, 2 Beds/Penthouse. Freehold. Within 1km to Tao Nan/Tanjong Katong Primary. 112 Katong/Parkway Parade within walking distance.

louiS tiong (65) 9223 2628

gAry goh (65) 9851 4866

For SAle - pArK nAturA (D23)

For rent - leonie towerS (D09)

ConDo For SAle - euhABitAt (D14)

For SAle - wAterFront iSle (D16)

S$1.68M (Neg), 1378sqft. 3 Beds 2 Baths. Greeny View of Bukit Batok Nature Reserve. Modern well equipped kitchen. Fully AC. Full condo facilities. Near Ngee Ann Poly, SIM and prestigious schools.

S$12,500 MTH (Neg). 3,200 sqft. Fully Furnished. 3 Beds 3 Baths. High floor ‘RARE GEM’ Designer Unit in District 9. 2 rooms en-suit. Access to Orchard road in just minutes away.

S$809K. 517 sqft. 1 Bed 1 Bath. Fully AC. High Flr 3.4m. Partially Furnished. Bus shuttle serv to Eunos, Paya Lebar MRT, Parkway Parade and 112 Katong Mall.

S$1,544M.1259 sqft. 3 Beds 2 Baths. 99yrs. Upcoming Bedok Reservoir MRT station (DT30) — Downtown Line 3 (DTL3) - Within walking dis when completed in 2017. Prestigious schools.

ShAwn (65) 9768 8115. www.xclusivity.sg

teo Cheng guAn (65) 9710 5235

vijeSh yogAnAthAn (65) 9761 3050

ApArt For SAle - CAStle loFt (D15)

ConDoFor SAle - eSpADA (D09)

For SAle - MArinA BAy SuiteS (D01)

S$1.15M (Neg). 1173 sqft. 3 Beds 3 Baths. Freehold. Full of amenities. Mins to Kembangan mrt.Prestigious schools. Near I12 Katong, Katong Plaza, City Plaza, East Coast Park & Beach etc. Tenanted till 2014.

S$1.6M. 560 sqft. 1 Bed 1 Bath. Freehold. High Flr. Full AC. Overlooking Sentosa & CBD City area! High quality finishing. TOP 2014. Easy access to maj. expressway. Walking dis-Somerset,Orchard & Doby Ghaut mrt.

S$5.772M. 2056 sqft. 99yrs. 4 Beds 3 Baths. Full condo facilities. Partially Furnished. Full Ac. Balcony, Walk-in-wardrobe. Sea View. City View. Renovated. High Floor. TOP 2012.

ApArt For rent - the CluB At CApellA (D04)

For SAle – ChAnCery Court (D11)

ChAnelle K noor (65) 9486 5900

S$6,400 MTH. 2308 sqft. 4 Beds 4 Baths. 2 yrs. Full condo amenities. 7-10 mins walk to Orchard, Great World City SM. A private carpark lot. Amenities near Horizon Towers as well as nearby schools: AngloChinese Sch & ISS International Sch.

For SAle - urBAnA (D09)

For rent - the CleArwAter (D16)

S$2.2M (Neg), 1012 sqft, 2 Beds. Freehold unit on very high floor with great views of city and River Valley area. Near Great World City.

S$3,900 MTH (Neg). High floor and Spacious 1249sqft. 3 Beds 3 Baths. Fully AC. Fully Furnished. Lovely facilities with large and spacious compound, near amenities. Bedok Reservoir Park right at doorstep.

evAn Chung (65) 9857 1055

S$2,35M (Offers in Excess of), 883 sqft, 2 Beds 2 Baths. Very high floor-above 50th, pockets of sea view. Surrounded by major financial institutions, demand for rentals are healthy & yields are good.

gAry goh (65) 9851 4866

S$45K MTH. 5640 sqft. 3 Beds 3 Baths. Overlooking South China Sea. Fully furnished. 24 hours Front Desk, Housekeeping, Laundry & dry cleaning services.

ChAnelle K noor (65) 9486 5900

evAn Chung (65) 9857 1055

ConDo For SAle - SeletAriS (D27)

S$1.360M. 1399 sqft. 4 Beds. 99yrs. Amenities: BBQ pits, fitness corner, playground, swimming pool and tennis courts.TOP 2013.

vijeSh yogAnAthAn (65) 9761 3050

inter-terrACe For SAle – pAvilion plACe (D23) S$2.90M (Neg). Freehold. 3 ½ storey inter-terrace. 5 Beds+5 Baths. Spacious. New and Renovated. High ceiling at 1st flr. 2 parking lots.

S$2.60M (Neg). 2034 sqft. 3 Beds. Spacious. Great location - Newton MRT, Raffles Girls’ School. Great investment potential.

vijeSh yogAnAthAn (65) 9761 3050

Corporate Classified Ads

Prime District 09/10/11

City and Sentosa District 01/02/03/04

Other Districts

Every home on our books has the most sought after address. savills.co.uk With over 30,000 visits every day, savills.co.uk is a great place to be in 2012. Google Analytics, September 2011.

Corporate Classified Ads

Project Sales

Office for Rent

Prestige Homes

International Projects

Leasing

For More Information: international.resi@savills.com.sg

To list your property for sale or lease: call 6836 6888

AGENCY NO. L3009688B AGENCY NO. L3007487F

The

PropertyGuru

The

LISTINGS

ATTENTION PROPERTY AGENTS!

FOR AS LITTLE AS $1.40 A DAY, REACH YOUR PROPERTY CUSTOMERS HERE! CALL 6578 9511 NOW FOR OUR PROMOTION RATES!

CITY / SOUTH / PRIME PROPERTIES ( DISTRICT - 01 / 02 / 03 / 04 / 06 / 07 / 08 / 09 / 10 / 11 )

SVR0100078_Ad (30mmx259mm) FA 07Jun.pdf

21/05/2012

18:36

Make the RIGHT MOVE At Savills, it’s all about people. Our people. We train you to be winners, to think 2 steps ahead.

Checkmate! See you @ 7th June, Thursday Time : 3pm Enquiries : 8188 5858 (Steven Seah) Email us: careers@savills.com.sg Savills Residential Pte Ltd 10 Winstedt Road Block B, #01-13 Singapore 227977

savills.com.sg

The

PropertyGuru CITY / SOUTH / PRIME PROPERTIES ( DISTRICT - 01 / 02 / 03 / 04 / 06 / 07 / 08 / 09 / 10 / 11 )

19 41

The

PropertyGuru

EAST / CENTRAL EAST PROPERTIES ( DISTRICT - 12/ 13 / 14 / 15 / 16 / 17 / 18 )

The

PropertyGuru EAST / CENTRAL EAST PROPERTIES ( DISTRICT - 12/ 13 / 14 / 15 / 16 / 17 / 18 )

www.propertyguru.com

For display ads, call 6238 5971

www.propertyguru.com

FOR AS LITTLE AS $1.40 A DAY, REACH YOUR PROPERTY CUSTOMERS HERE! CALL 6578 9511 NOW FOR OUR PROMOTION RATES!

The

PropertyGuru

WEST / CENTRAL WEST PROPERTIES ( DISTRICT - 05 / 21 / 22 / 23 / 24 / 25 )

NORTH / CENTRAL NORTH PROPERTIES ( DISTRICT - 19 / 20 / 26 / 27 / 28 )

The

PropertyGuru NORTH / CENTRAL NORTH PROPERTIES ( DISTRICT - 19 / 20 / 26 / 27 / 28 )

PRIVATE PROPERTIES FOR RENT (ALL DISTRICTS)

The

PropertyGuru

PRIVATE PROPERTIES FOR RENT (ALL DISTRICTS)

FOR AS LITTLE AS $1.40 A DAY, REACH YOUR PROPERTY CUSTOMERS HERE! CALL 6578 9511 NOW FOR OUR PROMOTION RATES!

The

PropertyGuru PRIVATE PROPERTIES FOR RENT (ALL DISTRICTS)

HDB Properties (For Sale)