December 2022 records: 5-room DBSS in Jurong West sold for S$858k, 2-room HDB in Choa Chu Kang sold for S$318k

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A 5-room HDB level in DBSS advancement Lake Panorama, along Yuan Ching Road, has simply been sold for a record S$ 858,000 in December 2022, making it one of the most expensive 5-room HDB resale flat in Jurong West.

Being on a high flooring, the record-selling system most likely has an impressive sight of this “vista”.

Yuan Ching Road Park View Mansions

The brand-new sale even surpassed the record embeded in the adjoining town of Jurong East, where the present holder is a 1,324-sqft, 5-room (Boosted) HDB resale flat at 288D Jurong East Street 21, cost S$ 805,000 (S$ 608 psf) in April.
Blocks 138B to 138D of Lake Vista Yuan Ching JCube Condo Road
Blocks 138B to 138D of Lake View DBSS ignore low-lying buildings created by a worldwide institution as well as Jurong Secondary School.

Independently, a 495-sqft, 2-room (Version A) HDB resale flat at 535 Choa Chu Kang Road 51, located within the 7th to 9th-floor array, had simply established a document for 2-room apartments in the community when it was sold for S$ 318,000 (S$ 642 psf) in December 2022.

Completed in September 2014, Lake Panorama has a remaining lease of 90 years 9 months. It consists of 682 systems throughout 3-, 4- and also 5-room level kinds.

A lot of the 5-room devices within Blocks 138B to 138D of Lake Vista deal with the narrow, open field area bounded by Firm Drive, Hu Ching Roadway and also Yuan Ching Road. Their balconies forget low-lying buildings created by the Yuvabarathi International College and also Jurong Secondary School, with Jurong Lake Gardens to the east and also northeast.

The previous record holder for a 5-room HDB resale level in Jurong West was likewise at the exact same growth yet nearby block 138B. In August 2022, a 1,130-sqft unit within the 13th-15th flooring array was cost S$ 805k (S$ 712 psf).

The 1,163-sqft unit, located within the 19th-21st flooring variety at block 138C, was cost S$ 738 psf, which is additionally a psf price document for 5-room apartments in the neighbourhood.

We ought to emphasise that this growth is nowhere near any MRT station (Lakeside MRT station is about 2.2 kilometres, or a 27-minute walk away). It is, nevertheless adjacent to the SuperBowl Jurong buying location (with a Sheng Shiong grocery store) and also is a brief drive along the AYE to the Tuas Secondly Web link checkpoint.

The closest MRT terminal to Block 535 Choa Chu Kang St 51 is Yew Tee MRT terminal, regarding 800 metres away or about a 10-minute stroll. Choa Chu Kang MRT station is south of the block, which is approximately 1.3 kilometres away (concerning an 18-minute stroll).

The previous record set for a 2-room level in CCK was in June 2022, when a 495-sqft device in the very same block (10th-12th floor array) was cost S$ 305,000 (S$ 616 psf).

The emphasize of this block is that it faces Limbang Park and is beside the Limbang Mall. The growth is known as Limbang Meadows, with TOP on September 2011 and also a continuing to be lease period of 87 years and also 9 months.

Singapore Real Estate Investment Benefits From Flight-to-safety Among Investors

At the same time, Tokyo continues to enjoy aner-zero interest rate environment which makes certain lower loved one loaning prices and also a much more positive spread over the expense of financial obligation.
These were the findings from the 17th version of the Arising Trends in Property Asia Pacific Report by the Urban Land Institute and PwC., which was published on Thursday November 24.

This lacklustre view was mirrored in a 38% y-o-y fall in regional transaction volumes in 3Q2022 to US$ 32.6 billion. This was the lowest 3Q volumes for a years in the region, the report claims.

Singapore, Tokyo, and also Sydney rank as the leading three markets among capitalists. Singapore benefitted from the redirection of funding that could otherwise have been released to properties in Landmass China and also Hong Kong.

Capitalists ought to take an extra mindful technique on new possession acquisitions in some Asian markets and also pivot their focus from traditional asset classes towards a selection of specific niche areas that use brighter expectation, the record says, adding that this might include protective havens and also new-economy styles.
The evaluated property gamers highlighted multifamily, resorts, senior living, and also logistics market properties as defensive havens. On the other hand, protective property would include favourable qualities such as rental fee indexation, shorter lease term, and also trustworthy frequent revenues.

Bukit Batok EC

The record is based on a survey of 233 real estate professionals and also 101 meetings with capitalists, programmers, residential property company agents, and lender brokers.
On the whole, the report kept in mind a downtick in capitalist sentiment amid worries over the increasing expense of debt, greater inflation, as well as a looming economic downturn. These Lumina Grand EC aspects saw many investors choose to put on hold procurement activities till projections of global price walks come to be more clear.
“Climbing rate of interest as well as the reducing worldwide economic climate are starting to influence local property evaluations and altering the way financiers assess prospective offers,” says David Faulkner, head of state of ULI Asia Pacific.