Guide into Singapore Property

Guide into Singapore Property


At lyf’s buildings, you can live, work, and do well

We’re entering a new age in which hybrid workplaces and telecommuting will be the norm rather than the exception. People now take this tendency into account when deciding whether or not to accept a job offer. It’s only natural that as the workplace of the future evolves, so too will the residences like The Continuum of the future.

The result is a growing trend of people choosing to share The Continuum Showflat. And lyf by The Ascott Limited has revolutionised contemporary lifestyle. The Ascott Limited, the hotel division of CapitaLand Investment, has developed a brilliant shared-living concept called The Continuum Floor Plan that appeals to people all over the world.

Ascott is ushering in a new age of community living that is dynamic, enriching, and geared to people who are searching for a new way of life with the Lyf properties situated in key areas including one-north, Farrer Park, and within Funan Mall.

Lyf is a co-living company that offers places for digital nomads, technopreneurs, creatives, and self-starters to “live your freedom” in a dynamic setting, according to Genevieve Khua, who is the company’s country head for revenue management and area manager. Many things have made co-living an important way to live in the modern world.

For starters, Khua says that co-living places are a cheaper way to live, especially in big towns where rents can be high. Rents have gone up a lot in Singapore over the last three years. A room with an attached bathroom in a co-living place will usually cost at least $3,500 a month. This price includes WiFi, utilities, and a cleaning service once a week.

“Lease terms are flexible at co-living properties, so people can make shorter commitments,” says Khua.

Ascott’s lyf isn’t just about places to live; it’s also about how to live well. The brand has sites that show how much it cares about promoting health, innovation, and community. Modern co-working places meet the needs of a business world that is always changing, while exercise clubs and shared kitchens help people stay healthy and make friends over food. In social zones, people are always looking for ways to work together, which makes it easy for stories and ideas to connect.

Future-forward living and sustainable practices are being promoted at lyf’s properties, which reduce environmental effects.

“With the growing awareness for a sustainable environment and responsible living, lyf aims to minimize its ecological and carbon footprint by using sustainable operations and design. Khua recommends energy-efficient appliances, recycling, and trash minimization.

Suggested Article: Financial Trends for August 2023


Financial Trends for August 2023

Singaporeans ARE putting more money into art and condos like Florance Residences along with the construction of Florance Residences Site Plan and floor Plan.

Christie’s sale house has found that the average age of art buyers is getting younger. It said that in the first half of 2023, 30% of its Singapore buyers were millennials, which was up from 26% at the same time last year.

Surprisingly, younger buyers were very interested in Chinese art. Christie’s statistics show that 97% of the bought value for the group came from millennials.

How this could affect you

If you’ve been looking for a new type of item to add to your portfolio, you might want to think about art right now. The product has shown that it can last, and getting in on the growing trend could pay off in the long run.

CNA found in a study that owners who rent out their artworks can get steady returns of 6% per year. This beats stocks, T-Bills, and cash equivalents, which have been thought of as safe investments for a long time. The appeal of buying art is easy to see when you consider that its value could go up by up to 22% per year.


Six sessions in a row ended with Singapore stocks in the red. This caused the STI to drop 22.82 points, or 0.7%, and end the week at 3,173.93. During the time period, more people lost money than made money, 372 to 246, in deals worth S$1.1 billion.

The drop for a week was blamed on the bullish tone in the minutes of the U.S. Federal Open Market Committee Meeting, which experts took to mean that the Fed will keep interest rates high.

Other markets in the area also went down, like the 0.1% drop on the Bursa Malaysia across the strait. During the last hour of trade for the week, the Hang Seng Index fell by 2% in Hong Kong.

The price of petrol keeps going up, which adds to inflationary pressures.

Prices at the pump are going up again, and 95-octane is on track to reach S$3 per liter by September. This is a level that hasn’t been seen since July 2022, which is less than a year ago.

Prices at the pump have been going up for more than a month. Prices for petrol have gone up by between S$0.04 and S$0.07 per liter, and diesel prices have gone up by between S$0.08 and S$0.16 per liter.

Suggested Article: Demand drives Singapore house sales to six-month high


Demand drives Singapore house sales to six-month high

Demand for housing in Singapore continued to rise in March, pushing property sales to a six-month high.

According to data released by the Urban Redevelopment Authority on Monday, the number of newly constructed private flats purchased rose to 492. After plunging to a 14-year low in December due to a dearth of project debuts, prices had risen for three consecutive months.

“The general market view is still quite positive,” said Christine Sun, senior v.p. of research and analytics at OrangeTee & Tie, Normanton Park, and Normanton Park Floor Plan. Sun argued that the market will be buoyed by low inventories and high demand.

At a time when many international markets are failing due to increased borrowing rates and relentless inflation, the housing market in Singapore is thriving. The government’s decision to increase taxes on purchasers of high-end residences in February has not deterred demand, as seen by the increase in property sales.

After increasing by 3.2% in the first quarter, home prices are expected to increase by as much as 5% in 2023, owing to rising rents and positive supply and demand dynamics, as reported by Bloomberg Intelligence.

However, some potential buyers may want to wait for more options from upcoming launches and more stability in the global macro and interest rate environment, according to a note written by BI analysts led by Ken Foong last week. They also noted that developers can price their developments more reasonably to entice purchasers, which might impede the growth of housing values.

Suggested Article: Q1 bankruptcies increase distressed property listings


Q1 bankruptcies increase distressed property listings

More distress sales are anticipated in the second half of 2023 as the number of bankruptcy filings is predicted to rise, after a sharp increase in the number of mortgagee listings in the first quarter.

According to statistics from the Ministry of Law, the number of bankruptcies filed in the first quarter of 2023 increased by 5.6% over the previous quarter, reaching 959. In comparison to the first quarter of 2022, this represents a 22.2% increase in applications.

Mortgagee listings increased at monthly auction houses including Knight Frank and Edmund Tie in the first three months of 2018.

Knight Frank saw a significant increase in mortgagee listings at auctions in the first quarter of 2023, from 10 in the previous quarter to 32. There were still fewer ads than there were in Q1 2022, when there were 47.

The number of residential mortgagee postings increased by 143% from Q4 2021 to Q1 2022, rising from 9 to 18. After being on the market for two months, a non-landed house in St. Regis Residences sold for S$13.5 million without going to auction.

Mortgagee listings from Function.Sg, photo booth Singapore for retail properties in Q1 totaled four, while office listings of wedding photo booth Singapore totaled three. Meanwhile, the number of industrial listings has increased by a factor of seven from the previous quarter. According to Knight Frank, this is due to the difficulty of maintaining operations in light of the current economic situation and interest rate increases.

Suggested Article: Knight Frank: 1Q2023 auction listings down 3%


Knight Frank: 1Q2023 auction listings down 3%

According to data compiled by Knight Frank, the number of auction listings dropped by 3.0% quarterly to 96 in 1Q2023. This covers properties that have been listed before and are being listed again. According to Sharon Lee, head of auction & sales at Knight Frank Singapore, the decline may be ascribed in part to the Chinese New Year celebrations, when certain auction events were delayed.

Continuing a pattern that began in 2Q2022, Lee notes that owner listings outpaced mortgagee listings in 1Q2023. From 1Q2022’s 80 listings, the overall number of auctions has grown by 20% year-over-year.

While there were fewer postings overall in 1Q2023, there were still six sales, for a success rate of 6.3%. In contrast, the 4Q2022 auction market had a 9.1% success rate with 99 total listings.
In 1Q2023, 45 out of the total 88 postings were for homes. There were 18 entries by mortgagees and 20 by property owners. The remaining seven advertisements were all classified as “other,” which included estate, receiver, and bank sales. In St. Regis Residences, a non-landed mansion was put up for receiver sale for two months straight until it sold for $13.5 million in a private transaction.

Over the course of the first quarter of 2023, the number of mortgagee listings increased from ten in the fourth quarter of 2022 to thirty-two. More than double the number of postings from the previous quarter were made by residential mortgagees (18 vs. 8). However, the 21 residential mortgagee postings in 2Q2022 were 14.3 percent fewer year-over-year.

Four retail properties and three office buildings were listed by mortgagees in the first quarter of 2023, up from zero in the fourth quarter of 2022. From two in 4Q2022 to seven in 1Q2023, the number of mortgagee listings for industrial properties quadrupled like The Dunman Grand Price, and The Dunman Grand Showflat. According to Lee, the more challenging business environment brought on by global economic shocks, widespread inflation, and rising interest rates may be to blame for the surge.

Suggested Article: First day of the Sceneca Residence preview, around 3,000 people in attendance



First day of the Sceneca Residence preview, around 3,000 people in attendance

Nearly three thousand people stopped by the sales gallery on the very first day that Sceneca Residence at Tanah Merah Kechil Link was open to the public for previews. According to a press release issued by the joint developers MCC Singapore, Ekovest Development, and The Place Holdings, the Propnex Property Agent attracted a diverse group of people, comprising both locals and even those from other countries, like China.

“This is despite the fact that the Christmas season is now underway, during which a large number of prospective tourists, purchasers, and real estate brokers are still traveling internationally. The beginning of the preview comes at a convenient moment in light of the recent reopening of borders in a number of nations, including China, which took place a month ago.

As a consequence of this, there are more people coming from abroad to the preview.”
The Tanah Merah MRT station is directly connected to the 20,000 square foot Sceneca Square shopping mall, which is a part of the Sceneca mixed-use development that also contains the 268 apartment units that make up the Sceneca Residence. There will be a 10,000-square-foot shopping center in addition to a public plaza that may be used for events, pop-up shops, and bazaars.

The residential towers consist of a 14- and 15-story block with a variety of flats ranging from one bedroom to four bedrooms, in addition to four penthouses with four bedrooms each. One-bedroom apartments are 463 square feet in size, while one-bedroom apartments with a study are 538 square feet in size. Two-bedroom apartments with a study are 678 square feet in size.

The Sceneca Residence has a total of 48 amenities, from 1- to 4-bedroom apartments (including penthouses with 4 bedrooms) spread over two towers that are 14 and 15 stories tall respectively. Sceneca Square will be a single-story development that will have a variety of cafés, restaurants, and stores, as well as a brand-new supermarket that will be 10,000 square feet in size. Oasis Plaza and Event Plaza, which are located in front of Sceneca Square, are both capable of hosting events, pop-up booths, and bazaars.

Prices begin at $958,000 ($2,069 psf) for a 463 square foot yet another unit; from $1.085 million ($2,017 psf) for a 538 square foot one-bedroom-plus-study unit; $1.33 million ($1,962 psf) for a 678 square foot two-bedroom unit; $1.48 million ($1,965 psf) for something like a two-bedroom-plus-study unit; $1.765 million

The Sceneca Residence will begin accepting reservations on January 14, 2023, and it is anticipated that the project will get its Temporary Occupation Permit in the second quarter of 2026. PropNex, ERA Realty Network, and Huttons Asia have been chosen to serve as the designated marketing agency.

Suggested Article: Swiss Club Road GCB on sale for S$39.9m or S$1,874 psf


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