Milson Ng

Hi Friends,

Executive Condominiums (ECs): A Hot Commodity

The Executive Condominium (EC) market continues to thrive, driven by strong demand and limited supply.

Key Takeaways:

- Rising Prices: Average unit prices for new EC launches have surged from $1,329 psf in 2022 to approximately $1,460 psf in the first nine months of 2024.
- Post-Privatization Appeal: Older ECs, especially those over 10 years from TOP, have seen significant price appreciation, with some developments like The - Dew and Yew Mei Green experiencing a 15.5% year-on-year increase.
- Narrowing Price Gap: The price difference between new and resale ECs has narrowed to just 6.9%, indicating strong demand for both.

Looking Ahead:

The future of the EC market remains bright, with new projects like Novo Place in Tengah New Town poised to attract buyers.

To delve deeper into the latest EC market trends and insights, please PM me for a comprehensive report.

Share this valuable information with your friends and colleagues.

Best regards,
Milson Ng

Good news for singles looking to buy a home in Singapore! From mid-2025, the government will introduce a new Family Care Scheme that prioritizes access to Build-to-Order (BTO) flats for singles looking to live with or near their parents.

This move aims to strengthen intergenerational support within families. Previously, this priority access was only available to married couples and their parents. ‍‍‍

The Family Care Scheme will have two components:

* FCS (Proximity): Allows parents and their children, regardless of marital status, to apply for BTO flats near each other.
* Details to be confirmed: More details will be released soon on how singles can apply for BTO flats with their parents.

What are your thoughts on this new scheme?

* Does it encourage stronger family bonds?
* How can it be further improved to benefit singles?

Let's discuss in the comments!

Milson Ng

🏡 Homebuyers, we know finding the perfect home involves more than just a great food centre nearby. Here are 5 essential checklist items most homebuyers consider:

1️⃣ Proximity to MRT stations for convenient commuting
2️⃣ Access to reputable primary schools for families
3️⃣ Nearby shopping malls for daily essentials and leisure
4️⃣ Green spaces like parks for relaxation and activities
5️⃣ Security and neighborhood safety for peace of mind

Each of these factors shapes how we feel about a place – but what about you? What’s on your checklist for a dream home?

https://www.asiaone.com/lifestyle/serangoon-garden-market-voted-favourite-hawker-centre-2024

Property giants UOL and CapitaLand have made a significant move in the real estate market, acquiring Thomson View Condo for a whopping $810 million. This marks the largest en-bloc deal of 2024, despite falling short of the initial asking price.

The Thomson View site is an elevated, sprawling 5-ha site that enjoys spectacular unblocked views. This site has very strong locational attributes, with Upper Thomson MRT Station at its doorstep, popular schools such as Ai Tong School within a 1km radius, nearby amenities including Thomson Plaza, and close proximity to parks and nature reserves.

What do you think will be the future of this prime real estate? Will it be redeveloped into a luxury residential project, a commercial hub, or something else entirely? Let's discuss!

Credit: Edge Property Singapore

Big Changes Ahead for Tampines & Bishan Town Centres!

The Urban Redevelopment Authority (URA) is brewing up exciting plans for Singapore's heartlands! Tampines and Bishan town centres could be in for a major makeover, with potential redevelopment on the horizon.

Here's a glimpse into the future:

1. Revitalized Centres: The URA aims to transform these town centres into vibrant hubs with modern amenities and facilities.
2. Focus on Community: The plans prioritize creating spaces that cater to residents' needs and foster stronger community bonds.
3. Enhanced Connectivity: Improved walking and cycling paths could enhance accessibility within the town centres.
4. Greener Spaces: Integrating more parks and nature elements could create a more sustainable and refreshing environment.
5. New Housing Opportunities: Redevelopment might unlock possibilities for new housing options in these established neighbourhoods.
6. Preserving Heritage: Conserving landmarks and historical sites could be a part of the redevelopment strategy.
7. Public Engagement: The URA encourages residents' feedback to shape the future of these town centres.
8. Long-term Vision: This redevelopment initiative contributes to Singapore's overall Master Plan for a more liveable and sustainable city.

I foresee that there are three benefits of rejuvenating town centres:

1. Increased property values: Revitalized town centres can attract more residents and businesses, leading to increased demand for property and higher property prices.
2. Enhanced rental yields: With improved amenities and accessibility, revitalized town centres can offer higher rental yields for landlords and property investors.
3. Greater investment opportunities: Redevelopment projects can create new investment opportunities, such as commercial spaces or mixed-use developments.

What do you think?

1. What features would you like to see incorporated into the revamped town centres?
2. Are you excited about the potential changes in Tampines and Bishan?

Share your thoughts and spark the conversation! Let's envision the future of these beloved neighbourhoods together.

Four Seasons Park Penthouse Makes Big Splash in Resale Market!

A swanky penthouse at Four Seasons Park has just made waves in the Q3 resale market. This luxurious unit sold for a whopping $7.8 million, nearly double the price it was purchased for in 2020!

Here are the key takeaways:

1. Location, Location, Location: Nestled in the heart of District 10, Four Seasons Park boasts prime proximity to Orchard Road's shopping haven.
2. Price Surge: The unit fetched $3.8 million in profit, highlighting the strong performance of the luxury condo market.
3. Spacious Sanctuary: Spanning 2,260 square feet, the penthouse offers ample living space for those seeking a luxurious city retreat.
4. Not the First Rodeo: This isn't the first time Four Seasons Park has seen record-breaking sales. In 2019, a penthouse sold for a cool $17.88 million!
5. Overall Market Sentiment: This sale reflects continued investor confidence in Singapore's high-end property market.

So, what are your thoughts?

Does this sale signal a continued upward trend for luxury property prices?

Would you consider investing in a high-end condo like Four Seasons Park?

Share your thoughts in the comments below! Let's discuss the hottest trends in Singapore's property market!

The Straits Times reported that two new housing areas, Sembawang North and Woodlands North, are being developed in Singapore. These areas, along with the redevelopment of the Sembawang Shipyard site, are expected to yield a total of 14,000 new homes. The first of these homes will be ready as early as 2025.

What are some of the factors you consider when choosing a new home in Singapore?

Do these new housing developments seem like an attractive option to you? Why or why not?

Let me know your thoughts!

My Heartfelt Congratulations to CDL for the highly successful launch of Norwood Grand, achieving an impressive sale of over 84% of units at an average price of $2,067 psf within the first four hours! Kudos also to the buyers who successfully balloted and secured their units during the initial launch window.

Norwood Grand offers excellent amenities, including a fitness corner, swimming pool, and clubhouse, with nearby shopping malls, schools, and parks that make it an ideal choice for families. Plus, with future developments in Woodlands and its connectivity via the Thomson-East Coast Line, there’s significant upside potential.

With only a limited number of 4-bedroom plus study units remaining, now is the perfect time to act. Don’t miss out on this exclusive opportunity—reach out to me, Milson, to schedule an exclusive viewing at the showflat or for a real estate consultation. Let’s explore your options together!

Cheers!
Milson Ng
SRI
milsonng.co

𝙏𝙪𝙧𝙣𝙞𝙣𝙜 𝙖 𝙉𝙚𝙬 𝙋𝙖𝙜𝙚: 𝙈𝙖𝙩𝙘𝙝𝙞𝙣𝙜 𝙖 𝙍𝙚𝙩𝙖𝙞𝙡 𝙎𝙥𝙖𝙘𝙚 𝙬𝙞𝙩𝙝 𝙄𝙩𝙨 𝙉𝙚𝙭𝙩 𝘾𝙝𝙖𝙥𝙩𝙚𝙧

A few months ago, I had an unexpected and delightful encounter with a friend of over 25 years. He shared that, after nearly 20 years of running his retail business, he’d made the tough decision to take a break. With retail becoming increasingly challenging, he wanted to hand over the space to someone new and spend more quality time with his family while working from home. I was thrilled to step in and help, quickly finding a suitable match within just a few weeks. After filtering through nearly 20 leads from my various marketing campaigns, we secured the perfect tenant for the space.

Congratulations to my friend on this new chapter and to the incoming tenant on their exciting journey ahead! It’s always a privilege to connect people with spaces that match their dreams and ambitions.

If you’re interested in commercial real estate or need assistance with a property, feel free to reach out for a chat.

“Commercial real estate is more than just buildings; it’s about connecting people with opportunities.”

Calling All Homebuyers! BTO Flats and Resale Homes Up for Grabs in 2025

The Housing & Development Board (HDB) has exciting news for homebuyers looking to purchase a new home in 2025. The first BTO flat exercise of the year is scheduled to launch in February, offering a wide range of options across different estates.

Key Takeaways:

* BTO Flats: Around 5,000 BTO flats will be available in Kallang/Whampoa, Queenstown, Woodlands, and Yishun.
* Prime Location: Tanjong Rhu, located in Kallang/Whampoa, offers 800 units with stunning views of the city center.
* Sea View: Woodlands features a 1,500-unit development near the coast, providing breathtaking sea views.
* Diverse Options: The flats range from two-room flexi to four-room units, catering to various family needs.

Planning for BTO 2025?

If you're planning to apply for a BTO flat in the upcoming exercise, remember to submit your HFE (HDB Flat Eligibility) applications as early as November 2024.

Looking to Purchase a Resale Home by CNY 2025?

If you're interested in buying a resale home and moving in by the end of Q1 or beginning of Q2 2025, start your search early and consult with a real estate agent.

Ready to Take the Plunge?

Whether you're opting for a BTO flat or a resale home, careful planning and research are essential. Consider your budget, location preferences, and lifestyle needs before making a decision.

Share Your Thoughts:

Which location excites you the most? Are you planning to apply for a BTO flat or purchase a resale home? Let us know in the comments below!

Milson Ng

It’s always a joy to help clients find the right fit for their lifestyle, and recently, I had the privilege of assisting a retired couple in downsizing from their private condo to a cozy HDB flat. They realized they no longer needed condo facilities, but they wanted to remain in their familiar neighborhood, where they enjoy evening walks, runs, and cycling. By rightsizing to an HDB flat, they’ve found a home that truly suits their needs, while staying connected to the community they love.

Thank you for trusting me as your exclusive realtor on this journey. From our first meeting at the showflat 10 years ago, to upgrading from HDB to a condo, and now helping you find the ideal retirement home—it’s been an honor to be a part of each stage of your real estate journey. I’m grateful for the relationship we’ve built over the years.

If you’re considering a move, whether it’s rightsizing, upgrading, or anything in between, don’t hesitate to reach out for a chat. I’m here to guide you every step of the way.

“Real estate is more than just a transaction; it’s about finding the right place to call home.”

In the early hours of October 8, an explosion led to the collapse of two shophouses on Syed Alwi Road, injuring six people. This incident underscores the importance of structural integrity in older buildings. Many conservation shophouses in Little India, including those on Syed Alwi Road, were built between the late 1800s and early 1900s. These structures reflect Singapore’s history, serving as homes and shops for decades, and their preservation efforts seek to maintain historical value while ensuring safety.

Precautions for Shophouse Owners and Operators

To help prevent structural incidents, owners and operators should:

1. Schedule Regular Structural Inspections: The Building and Construction Authority (BCA) mandates periodic checks, usually every 5–10 years.
2. Undertake Prompt Repairs: Addressing issues like cracks or water damage promptly can prevent deterioration.
3. Monitor Floor Loading: Operators should respect the building’s load-bearing capacity to avoid stress on the structure.
4. Install Monitoring Systems: Tools such as tilt sensors detect early shifts or cracks.
5. Ensure Proper Insurance: Owners should cover structural insurance, while tenants insure their contents.

Insurance Responsibilities

Building insurance is typically the owner’s responsibility, covering structural damage and liability. Tenants are responsible for content and liability insurance specific to their activities.

Examples of Past Collapses in Singapore

Historical building collapses in Singapore emphasize the need for caution:

1. Hotel New World (1986)
2. Nicoll Highway (2004)
3. Geylang Lorong 4 (2016)
4. Upper Changi Road East (2017)
5. East Coast Road Shophouse (2021)

Regular inspections, timely maintenance, and adherence to structural guidelines help protect Singapore’s valuable conservation shophouses.

Singapore's HDB resale market continues to defy expectations. Even with a dip in transaction volume, resale flat prices maintained strong growth in September 2024. Here's a quick breakdown:

1. Price Growth Persists: Despite a 14.9% drop in volume compared to August, resale flat prices rose by 1.8%. This reflects continued high demand for HDB flats.
2. Year-on-Year Increase: Compared to September 2023, resale prices have risen a significant 10%. This upward trend is seen across both mature and non-mature estates.
3. Limited Availability: The limited availability of new flats, driven by shorter construction times due to the pandemic, is a major factor contributing to the price increase.
4. Million-Dollar Flats on the Rise: The trend of HDB flats crossing the million-dollar mark continues, with a record 328 such transactions in Q3 2024.
5. Uncertain Future: While the market remains buoyant, rising interest rates and potential economic headwinds could impact future price trends.

Do you think the HDB resale market will continue its upward trajectory, or are there factors that might cause a slowdown in the coming months?

Share your thoughts in the comments below!

2-Bedroom Unit for Sale at Daisy Suites - Freehold Living in a Prime Location

Discover the charm of Daisy Suites, a freehold development nestled in a tranquil residential enclave. This 2-bedroom unit is perfect for homebuyers seeking both comfort and convenience. Enjoy a spacious layout with functional living spaces designed to maximize comfort and privacy.

Strategically located, Daisy Suites is just a short walk to Woodleigh MRT and Serangoon MRT stations, making commuting a breeze. For families with young children, the proximity to reputable primary and secondary schools like Maris Stella High School, Cedar Primary School, and St. Gabriel's Secondary School offers excellent educational options.

Take advantage of the serene surroundings while remaining connected to the heart of Singapore with nearby amenities such as NEX Shopping Mall and dining options in Serangoon Gardens. With its freehold status, Daisy Suites is a great investment opportunity for those looking to secure long-term value in a highly sought-after location.

Don't miss out on this rare chance to own a piece of prime real estate! Contact Milson at 8613 3166 today for an exclusive viewing of this 2-bedroom gem.

Homeowners hoping for a reprieve on their mortgages might be disappointed. Analysts predict Singaporean banks are unlikely to cut mortgage rates significantly despite the US Federal Reserve's recent rate cuts. Here's a quick rundown:

1. Fed Rate Cuts Don't Guarantee Lower Mortgages: Although the US Fed is cutting rates, analysts say Singapore banks likely won't follow suit due to different economic circumstances.
2. Focus on Local Factors: Singapore's interest rate environment and domestic banking competition will play a larger role in influencing mortgage rates.
3. Limited Room for Movement: Banks might have limited room to lower rates due to factors like rising borrowing costs and managing their profit margins.
4. Focus on Fixed Rates: Analysts suggest potential homebuyers might benefit from considering fixed-rate packages to lock in a stable interest rate.
5. Long-Term Outlook Uncertain: The future of mortgage rates remains uncertain, with analysts advising caution and monitoring the evolving economic landscape.
6. Alternatives for Homebuyers: Potential homebuyers should explore various loan options and compare rates from different banks to secure the best possible deal.

Questions for Homebuyers:

Given the current mortgage rate environment, should you prioritize fixed-rate or variable-rate mortgages?
How can you prepare for potential interest rate fluctuations and ensure your financial stability?

By understanding the factors affecting mortgage rates and exploring available options, homebuyers can make informed decisions about their financial future.

Is this a mistake or someone is trying to think out of the box to make the figure very attractive?

S$8,000-a-month HDB flat rent ‘mistake’ prompts questions on data integrity

Eyebrow-raising transaction entry changed to S$900 a month, but amendment raises concerns about data going into HDB records.

According to data found on the HDB website, the median rent for three-room flats in Bukit Merah was $2,970 as of the second quarter of 2024.

Even four and five-room flats in the same area had a median rental of $3,800 and $4,000 respectively, making up less than half of the rent for the unit in question.

Super rare two bedder unit near MRT station for Sale

Daisy Suites: Two-Bedroom Haven

**Embrace Urban Living at 592 Sqft**

Looking for a cozy and convenient home? This two-bedroom, one-bathroom unit at Daisy Suites is the perfect fit. Enjoy the comfort of a spacious living area, perfect for entertaining guests or relaxing after a long day.

Key Features:

* Vacant Possession: Move in ready!
* Prime Location: Situated within 1km of top schools, making it ideal for families and professionals.
* Ideal for Singles, Couples, or Professionals: The compact yet functional layout offers a comfortable and efficient living space.

Don't Miss Out!

Contact Milson at 86133166 to schedule a viewing and discover the potential of this fantastic unit.