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Economists raise 2010 growth outlook for Singapore to 6.5%

Economists have upped their growth outlook for Singapore as the city-state's key industries continue to rebound from last year's recession, according to a central bank poll.


The Monetary Authority of Singapore's survey of 20 private-sector economists showed they expected average growth of 6.5 per cent this year, higher than the previous forecast of 5.5 per cent in December.

The economists also raised their outlook for the island-state's major industries including manufacturing, which is now predicted to expand an annual 9.7 per cent this year - higher than the previous forecast of 6.3 per cent.

Wholesale and retail trade is seen growing 8.4 per cent instead of 7.0 per cent while construction is tipped to expand 8.9 per cent, from a previous projection of 7.1 per cent.

The government in February upgraded its 2010 economic growth outlook to 4.5-6.5 per cent from 3.0-5.0 per cent.

Singapore's economy contracted 2.0 per cent last year due to the global economic downturn. But it has managed to pull out of recession and rebounded strongly.

Improving global trade and continued consumption by major Asian markets like China spurred a rapid recovery in the beginning of this year.

Song Seng Wun, regional economist at CIMB-GK Research, said: "We see a very strong start to the year for the manufacturing sector, led by the pharmaceuticals sector, as well as a firmer contribution from the tech sector itself. So, collectively it looks like we're off to a very strong start for the year, and for the first quarter. Indeed the first-half performance may lift the overall figures for the full year itself."

Private-sector economists surveyed by the central bank said they expected GDP growth of 9.5 per cent for the first quarter.

Sector-wise, they said the long-term prospects for the financial services sector remain strong although it is expected to lag behind the others in the first quarter.

David Cohen, director of Asian economic forecasting at Action Economics, said: "Those numbers can fluctuate quarter on quarter, and as far as the financial services, the outlook is still bright in the long term. The fact that the stock market has bounced back nicely from a year ago should help support investment activity."

As for 2011, GDP growth estimates for Singapore came in at 5.5 percent. Experts said the lower expectation is the result of the inventory restocking cycle being over, and concerns over the pace of recovery in the more developed OECD economies.

- CNA/yb/ir

Property launches to go into high gear

DEVELOPERS are gearing up to launch more projects - especially prime ones - into a thriving property market driven by confident buyers keen to splash out on the back of the improving economy and a low interest rate environment.

The Government's anti-speculation moves last month are having little effect on genuine home hunters, who have ever wider real estate options.

Potential buyers will certainly have no lack of choices when it comes to new launches this month with 'easily half a dozen launches' coming up, said CB Richard Ellis (CBRE) executive director of residential services Joseph Tan.


Mass-market projects have been setting the pace for months but prime developments, which began inching back into the market late last year, are becoming more prevalent.

A CBRE Research report yesterday said that Singapore's luxury residential market is expected to make a strong rebound.

It noted that new luxury projects recorded launch prices of between $2,500 and $3,400 per sq ft (psf) in the fourth quarter of last year.

This beats the $2,100 psf to $2,700 psf range achieved at the end of 2008, demonstrating a strong turnaround, it said.

In January and February, 88 units of CapitaLand's prime Urban Suites were sold at $2,500 psf on average while about 35 units of The Laurels in Cairnhill Road went at $2,500 psf to $2,900 psf, it said.

The launches coming up on the weekend include the Hiap Hoe Group prime estate Waterscape At Cavenagh, and Hong Leong Holdings' Aalto.

The Waterscape At Cavenagh will house 200 one- to four-bedroom units and penthouses ranging from 581 sq ft to 2,992 sq ft. Prices at this weekend's launch will be about $1,880 per sq ft.

Hiap Hoe gave a preview of the project in late November and sold just three units at a median price of $1,909 psf. Another five units were sold in December. But this year it has sold 88 units, with the bulk transacted over the weekend after Chinese New Year, from $1,715 psf to $2,020 psf or $1.03 million to $3.15 million.

This weekend will also see Hong Leong Holdings release 60 high-floor units at the freehold 196-unit Aalto in Meyer Road. Prices will start from $2,000 psf.

A handful of lower-floor units are also available, from $1,500 psf. Absolute pricing ranges from $3.1 million for a 1,442 sq ft three-bedder to $5.3 million for a 1,959 sq ft four-bedroom unit.

The Aalto was first released in 2007 with units selling for around $1,950 psf. It was then launched in January 2008.

One unit was sold in January this year at $2,011 psf, leaving 78 unsold units in the condo, which will receive its temporary occupation permit in September.

A Hong Leong Holdings spokesman said: 'We have maintained the original selling price of the Aalto in light of premium value and location.'

Next weekend, buyers can look forward to Cheung Kong Holdings' The Vision in West Coast Crescent, The Laurels and Tiong Aik's Coralis in Joo Chiat Road. The Vision, a 99-year leasehold condo, is said to be priced about $1,100 psf.

Coralis is a freehold condo featuring one-bedders as small as 495 sq ft and penthouses of up to 3,089 sq ft. Indicative pricing is from $1,350 to $1,550 psf.

The pace will quicken over the next two to three months with possible launches including 76 Shenton Way, Seascape and Residences at W in Sentosa Cove, The Waterline on the former Toho Gardens site in Yio Chu Kang, UOL Group's Dakota Crescent project, and Starlight Suites in River Valley Close.

CBRE Research said the luxury projects Ardmore 3 and those on the sites of the old Grangeford, Hillcourt and Parisian estates are likely to be marketed in the first half of the year. Prices and rents of luxury properties are expected to rise by 10 per cent to 15 per cent and 5 per cent to 10 per cent respectively this year.

Overall, prices will continue to rise but at a much less frenetic pace, said Mr Tan. 'If you look at the recent land tenders, there's a certain replacement cost that developers need to look at. Some developers may want to put a forward price on their projects now as they don't want to run out of their landbank too quickly.'

Sat, Mar 06, 2010
The Straits Times

Home buyers still flock to showrooms despite new property

New measures kicked in on Saturday to curb speculation in the property market.
A Seller's Stamp Duty will be imposed on all residential properties bought on Saturday and sold within one year, while housing loans from financial institutions will be capped at 80 percent of property value.

Are they taking the buzz out of the property market? Not yet - at least not for those who are buying for the long-term.

It was business as usual at one property showroom on Saturday, as a steady stream of visitors checked out the units available. Sales of units at the Altez condominium - located just opposite Tanjong Pagar MRT station - are moving fast.

One woman in her 30s snapped up four units - two to stay in and two to rent out.
The condominium's developer said they could still sell an entire floor of units within an hour.
Some home buyers said the reduction in the home loan limit did not make much of a difference.
Home buyer Raphael Tan said: "The banks have been very strict, anyway. So I think we will still be on track for our financing."

And those who are buying for the long-term are not worried about the new Seller's Stamp Duty.
Doris Chia, another home buyer, said: "Although it's quite pricey now, I think this is a good location and for long-term investment."

Analysts expect developers to launch more high-end properties in the first half of this year.
These properties typically sell at S$2,000 per square foot and attract buyers and investors who are less price-sensitive.

Donald Han, managing director of Cushman and Wakefield, said: "A lot of the high-end investors are typically not bound by any limitation. They don't go for maximum loan-to-value ratio. In some cases, they just go for 40 to 50% of loan-to-value ratio. In some cases, they even buy on a cash basis."

Analysts said the mood to buy won't change much as the measures are meant to flush out speculators, who make up a small percentage of the market. Meanwhile, Senior Minister of State for National Development Grace Fu said that now is the time to introduce measures to control the private property market. She said the authorities have been studying the property market closely and that it is best to introduce the measures before the property bubble forms.

"We would think that it may deter speculative buying and we want our investors to basically be on the more solid ground when they invest in properties. It should not deter genuine buyers who have the financial resources to hold the property."
- CNA/ir

THE EX-CHAR YONG GARDENS (URBAN SUITES) LAUCHED !!!

Booking The Urban Suites
(Ex-Char Yong Gdns)
Kindly Call 8181-7777
http://urbansuitescondo.blogspot.com/

We had the details and exact launching period of the Urban Suite (ex-Char Yong Gardens) already, It will be Early January 2010. I would like to recommend 2 Bedrooms, good for investment. The Outlook for Singapore in 2010 is bright as Government is declaring “Singapore out of Recession” and as 2 Integrated Resort is Operating Soon.

“2 Bedrooms’ With Pool View, Private Lift and Service Lift Full Condo Facilities, Estimated Price $2.7-$2.88M”

"Ideal Living Location"

MRT STATIONS NEARBY

Somerset MRT: 370 m
Orchard MRT: 650 m
Newton MRT:1 km
Dhoby Ghaut:1.01 km

SHOPPING CENTRES

The Heeren SC: 180 m
Paragon SC: 250 m
Orchard SC: 260 m
Centerpoint SC:280 m
Orchard Central SC: 320 m313
Orchard SC: 300 m
Ngee Ann City SC: 280 m
Wisma Artia SC: 340 m
ION Orchard SC: 370 m
Plaza Singapura SC: 870m
...and More

SCHOOLS NEARBY

CHATSWORTH INTERNATIONAL SCHOOL
37 Emerald Hill Road (S) 229313
Distance :150 m

ANGLO-CHINESE SCHOOL (JUNIOR)
16 WINSTEDT ROAD, SINGAPORE 227988
Distance :710 m

OVERSEAS FAMILY SCHOOL (OFS)
25F Paterson Road 238515
Distance :760 m

JHS MONTESSORI KINDERGARTEN
332, River Valley Road 238364
Distance :880 m

ENQUIRY ABOUT THIS NEW LAUNCH


PLEASE INDICATE YOUR CONTACT NUMBER IN THE MESSAGE

SOFT LAUNCHING @ Elliot Road, East Coast

The Elliot @ East Coast finally set to launch mid of Sep. Kindly Email If you are interested to have more infomation. Please Call (65) 8181-7777 or 讲华语 (65) 8112-7645

Details:

Price around $1100 psf
Freehold, Resort Style
8 Block of 5 Storey & 1 Block of 3 Storey Condo

1 BR approx 500sq ft
2 BR approx 950 - 1,600 sq ft
3 BR approx 1,300 - 2,100 sq ft
4 BR approx 1,600 - 2,700 sq ft
Penthouse approx 1,600 - 2,800 sq ft
Total 110 Units

Near Good Schools

• St. Stephen’s School
• Victoria School
• Ngee Ann Primary School
• CHIJ Katong Primary School
• St. Patrick’s Sec School
• Tao Nan School
• CHIJ Katong Convent
• Tanjong Katong Girls’ School
• Tanjong Katong Sec School
• Chatsworth International School
• Temasek Junior College

The Interlace Condo (Ex-Gillman Heights Site) Launching Soon

THE INTERLACE
Where Urban Living Meets Nature…

The Best of Both World

· Located amidst the nature reserve parks & southern ridges of Singapore
· 99 years residential development of 1,040 units
· Huge land size of approximately 8 hectares
· Designed by World Renowned Architect – OMA Ole Scheeren
· Proximity to Future Circle Line MRT Station (Labrador Park)
· Minutes drive to CBD, Vivocity & Sentosa IRs
· Condominium (In-House) shuttle bus provided to Vivocity for residents
· 2 / 3 / 3+Study / 4 bedrooms, Townhouses & Penthouses available
· Basement Carparking Lots
· Quality Finishes

The project set to launch 17-Sep-2009.

Please contact Paul (65)8181-7777, 讲华语 (65) 8112-7645 / poon@i-lander.net for placing cheque of booking.

Project Details

Site Area: 8 hectare
Design: Hexagonal Stacked 31 blocks 24 Storey high
Unit Type: 2 Bedrooms 807 sqft - Penthouse 6307 sqft
Total: 1040 units

Expected The Unusual Design

The project set to launch 17-Sep-2009. Please contact Paul (65)8181-7777, 讲华语 (65) 8112-7645 / poon@i-lander.net for placing cheque of booking.

The project set to launch 17-Sep-2009. Please contact Paul (65)8181-7777, 讲华语 (65) 8112-7645 / poon@i-lander.net for placing cheque of booking.

The Caspian @ Jurong Lake District Are Fully Sold

Finally, the Caspian Condominium 712 units at Jurong Lake District near to Lakeside MRT Station are 100% fully sold. The one of the top selling project started official launched on March 2009 that wake the Singapore property market in the mid of financial crisis from DOOM to BOOM finally closed down their showsuite at Lakeside Drive off Yuen Ching Road on Saturday, 15th Aug 2009.

Leaving the buyers who missed out the best buy price properties $580-$660 psf to buy the new launching project at $750-$850 psf.

The sub-sale for Caspian Condominium are Ranging from $720-$750 psf, most of the sub-sale buyers are purchased for own use.

LOOKING FOR SUB-SALE UNITS WITH GOOD VIEW

PLEASE CALL 8181-7777

or email: paul@expatcondo.com

• Many Units 2, 3, 4 Bedrooms Hi-Low Floor Available
• NEAR MRT / POOL VIEW,
• LIVING NEAR THE LAKE @ JURONG LAKE DISTRICT.
• 1KM TO RULUNG PRIMARY SCHOOLS
• NEAR CANADIAN INTERNATIONAL SCHOOL
• NEAR JURONG POINT SHOPPING MALL
• FUTURE TOURIST SPOT (INVESTMENT POTENTIAL)
• GOOD SIZE UNIT WITH PANORAMIC POOL VIEW

Waterfront Key Succesfully Have Their Special Preview 17-July-2009, 7:00 PM

The Waterfront Key new condominium special preview launching along Bedok Reservoir Road on 17-July-2009 starting from afternoon, Buyers, Developers & Property Agents were eagle to secure choice units form up queue since 2 pm.

Better pricing than expected, the units launch today below the earlier announcement. Previously, the developers, Far East Organisation joint venture with Fraser Centerpoint Homes gave the indication price at 800 psf. Most units launch at slightly lower at only 680-720 psf. 75% the unit launched sold estimated 60 units. Most buyers are happy with the price they bought. Many of buyers who missed out due to late decision, the choice units sold change to higher floor.

Totally do not look like recession. Some of the Buyers who did not take Property Agents advice to bring cheque along went back home empty handed.

According to the ERA Agents who market this properties together with Propnex and HSR forecast that tomorrow released unit will be slightly higher psf than today. However some of the buyers decided to submit blank check to their agent for the next day release.

Waterfront Key Condominium is the phase II released (plot No.1 of 4 plots) facing superb Bedok Reservoir view.


The Waterfront Wave @ Bedok Reservoir

Pebble Bay For Rent - Tanjong Rhu Road

Description:
HUGH LIVING HALL FACING POOL, NEAR BOULEVARD MRT, NEAR MARINA BAY, RAFFLES PLACE, SUNTEC CITY, RAFFLES CITY..ETC. PLEASE CALL FOR VIEWING IN ADVANCE 8181-7777 PAUL





Property Details

District: 15 ( Amber Rd, Joo Chiat, Katong, Marine Parade, Meyer, Tanjong Rhu )
Property Type: Condominium
Rental Price: $ 9,000
Rental Price psf : $ 3.85
No. of bedrooms: 3
Family/Hall: 1
Built up: 2335 sq. ft.
Furnishing: Partly Furnished
Carpark: Ample CarPark
Air Cond: Fully Aircon
Living: Marble
Dining: Marble
Bedroom: Marble
Kitchen: Ceramic
Facing: Swimming Pool

Amenities: MRT (Stadium MRT Station)
Facilities: Swimming Pool, Wading Pool, Waterfall Pool, Whirlpool, Jacuzzi, Sauna, Playground, Gymnasium, Tennis Court, Driving Range, Badminton Lawn, Squash Court, Jogging Track, BBQ, Putting Green, Meeting Rooms, Basement Parking, Undercover Parking, Security 24hr, Mini-Mart, Beauty Salon

Mode of appointment: PLEASE CALL FOR VIEWING IN ADVANCE













Appointment for viewing please call (65)8181-7777poon@i-lander.net

SPECIAL PRIVIEW OF LUXURY CONDOMINIUM NEAR GREAT WORLD CITY

Only 127 units of Luxury Condominium on the hugh beautiful hilly land surrounded by landed house. Exclusive large pool & landscape. Single loded corridor (2 units per floor) came with own private & survice lift. Enjoy the unblocked scenery of Tanglin Good Class Bungalow Area and panoramic city view of Orchard Road....Exclusively for you..

2 Bedrooms 1,324 sq.ft.
3 Bedrooms 1,927 sq.ft.
4 Bedrooms 2,788 sq.ft.
Penthouse available

from 2 Jury 2009, Please Call 8181-7777 for Invitation

City Square Residences, Kitchener Link, District 08, Singapore

Luxury Condominium, Affordable Price !!! Practical layout beautiful connection between Dining & Kitchen, far horizon view, Looking toward Marina Bay, Raffles Place, Shenton Way. Fully unblocked due to conservation area & height of other developments. Doorstep to brand new Shopping Centre(under-construction) & door step to MRT. Best for new married couple, or renting out to expat.... BEST OF THE BEST, SECOND TO NONE!!! HIGH FLOOR NO BOMB SHELTER INSIDE

Aspen Heights Condominium For Sale - Rent, District 09, Singapore

The Aspen Heights situates at River Vally Road near Robertson Quay, Mohamad Sultan, popular fine wine and dine of Singapore. Closes proximity to Orchard Shopping Centres, 2 big parks, the Fort Canning Park & The Istana Park, Dhoby Ghaut MRT Station. Close to Clarke, China Town, Raffles Place, Marina Bay Business Financial District.

STOCK INVESTMENTS vs. PROPERTY INVESTMENTS

Property investment will not make you rich or poor over night, unlike Stock Investment. More over you must have time to monitor the movement of Stock Market. Buying or Selling at the wrong timing can cause you fortune, even in the good economy.

If You do not have time to monitor, Property Investment is one of the best choice. You do not need to monitor it everyday. Your investment will never turn to zero like in vest in Stock Investment. If it's not a right time to sell, you can choose to hold because it still give you return in form of rental

Most Important in Property Investment, you must be able so source out the right property that can maximize you investment return in you specific time frame.

The only set back for Property Investment is the capital investment is quite a big sum. You can't invest with too small amount like invest in Stock Investment.

Sourcing The Right Properties For Investment in Singapore, Please Call (65) 8181-7777

City Square Residences, Kitchener Link, District 08, Singapore

Paexco Presents: RARE & GOOD LOCATIONS, Luxury Condominium, Affordable Price !!! Practical layout beautiful connection between Dining & Kitchen, far horizon view, Looking toward Marina Bay, Raffles Place, Shenton Way. Fully unblocked due to conservation area & height of other developments. Doorstep to brand new Shopping Centre(under-construction) & door step to MRT. Best for new married couple, or renting out to expat.... BEST OF THE BEST, SECOND TO NONE!!! HIGH FLOOR NO BOMB SHELTER INSIDE....ExpatCondo

City Square is closes to many Shopping Centres like Bugis Junction. Suntec City, Raffles City, and Marina Shopping Centre, Millennia Walk, Funan IT Mal and The Central etc. close proximity to CBD Raffles Place City Hall, Marina Bay Integrated Resort (IR).

Looking For Buy - Sale - Rent City Square, Please call (65)8181-7777 Paul@ExpatCondo.com

Real Estate & Property Consultant, Singapore

Sourcing The Right Properties For Investment or Own Stay in Singapore, Please Call (65) 8181-7777