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Local Property News
Hillion Mall at Singapore's first integrated development and transport hub in the West

Hillion Mall which obtained its Temporary Occupation Permit (TOP) on 30 December 2016 will open on 24 February this year to become the pulse of Bukit Panjang, catering to more than 220,000 residents1 and 760,000 commuters2 in one of the fast-growing neighbourhoods. It will celebrate its opening with a series of carnival-themed events and activities for all members of the community
The mall, the first of its kind in the western part of Singapore, is seamlessly connected with Hillion Residences as well as a bus interchange (U/C), MRT station on the Downtown Line and LRT services to make Bukit Panjang the ninth town in Singapore to have an integrated transport hub3. Directly connected to Bukit Panjang MRT Station via an underpass at Basement Three, commuters will have direct access to the entire transport network from the mall. Hillion Mall is also well served by the Bukit Timah Expressway (BKE) and the Kranji Expressway (KJE).
Recognising these opportunities, tenants have taken up over 100 retail shops or over 90 per cent of the mall's approximate 174,730 square feet of net lettable area. Developed by Sim Lian JV (BP Retail) Pte. Ltd.4, approximately one-third of the mall has been dedicated to the food and beverage sector, while close to 45 per cent of the retail space has been allocated to lifestyle choices.
Sitting atop Hillion Mall is the 546-unit Hillion Residences which features a wide variety of unit types from one-bedrooms to family-friendly, spacious units such as the penthouses. All four-bedroom units have been snapped up and Hillion Residences is expected to receive its Temporary Occupation Permit by September 2018.

Private resale property market to cruise on status quo
2016 proved to be a roller coaster year for the private home market, as prices fluctuated throughout the year but never quite settled into an upward swing. Price increases lasted hardly a quarter before turning the opposite direction and movements differed between regions as well.
Across the board, resale private home prices rose 0.1 per cent. Most of the increase were for properties in the prime districts. Prices here rose 1.8 per cent while falling 0.9 per cent and 0.4 per cent in the city fringe and suburban districts respectively. Location continues to rule buyers' decision-making process and prime district home prices remained stable despite the year-end lack of market activity.
As the rental market continues to wane and competition from completed properties put further pressure on rental prices, more private condominium unit owners may be pushed to sell this year as they come to the end of their 4-year holding period, after which they will have to foot their sellers' stamp-duty bill. Buyers of resale units could have the upper hand when it comes to negotiations in these cases.
The number of private apartment units sold have been falling as well, with 484 units sold as compared to the 618 sold in November. Though the numbers are higher than the 453 units sold in December 2015, it is still a far cry from the 2,050 in April 2010 - a 76.3 per cent fall in fact. Property analysts are expecting prices and sales volume to maintain their current levels, though 2017 could be more a year of keeping the status quo than quick recovery.

Status quo for landed property market this year

Though figures from the last quarter indicated that landed home prices have risen 0.9 per cent, that was following a 2.7 per cent fall in Q3. Property analysts are careful not to yet call it a market rebound as 2017 may pose a difficult year for the economy.
The landed housing market may continue to feel the pressure this year as cooling measures remain and the economic outlook seems uncertain. In a year-on-year comparison with Q3 of 2013, prices have fallen 14.8 per cent. Overall landed home prices fell 4.4 per cent last year and 4.1 per cent in 2015. The lowered prices could however have been a factor in bringing buyers back. Should sales volume and landed home prices continue to stabilise, the price index may inch up albeit gradually.
There were several considerable transactions in the detached landed house segment and this could have boosted numbers in Q4. One notable sale was for a property in Bishopsgate, at $26.8 million and a couple of others in Holland Park and White House Park at $25.5 million each. Though the Total Debt Servicing Ratio (TDSR) framework implemented in 2013 has limited buyers for private properties across the board, it has more effect on the higher-priced property segments as investors here may have more financial commitments.
Despite a muted landed housing market last and possibly this year, landed homes remain much sough-after and investors in these segments may be bolder in their attempts to close deals this year.

Resale HDB market looking at a year of stabilisation

Transaction volume and prices of resale HDB flats dipped once more last month, following a rise in November. Prices of resale HDB units fell 0.3 per cent in December and 13.9 per cent fewer transactions were recorded in midst of the usual year-end quiet. A total of 1,364 resale flats were sold last month.
Larger units such as the executive flats and 5-room flats saw a bigger price decline of 0.9 and 1 per cent respectively. Prices of rarer 3-room and 4-room units dipped only 0.1 and 0.2 per cent. The steeper decline for the bigger flats could be due to declining private property prices, which may steer some buyers towards that direction. Smaller HDB flats are priced much lower than the same in the private property sector, thus the pool of buyers for these units are considerably more stable though now that singles can apply for 2-room flats directly from HDB, the pool could have diminished slightly.
Prices of resale HDB units in non-mature estates fell the hardest at 1.2 per cent year on year, possibly due to competition from the rising number of private residences in the suburbs. In mature estates on the other hand, prices have risen 1 per cent. Overall, with prices fluctuation within the 1 to 2 per cent range, analysts consider the market stabilised after years of gradual decline since 2013. The market could be reaching a zero per cent change soon and with the current market levels remaining unchanged, buyers are beginning to take the opportunity to snap up units in the resale market when a suitable deal comes up. Resale transactions may rise up to 15 per cent this year.

Global Property News
Technology companies in Asia Pacific are trading up their real estate

The technology sector has upgraded its image with first-rate office space in prime office locations. "Silicon Valley"-like pockets have popped up across Asia in cities such as Shenzhen and Bengaluru. Similar to financial services companies clustering near stock exchanges, tech companies are building hubs in Asia to aid their business growth, with prime office locations providing better access to talent pools. Firms, including the major hardware designers, internet and e-commerce players, are no longer relegated to less expensive, lower quality buildings.
According to a new report from JLL, which analysed occupancy across 17 cities in Asia Pacific, tech companies are occupying a substantial share of Grade A office buildings and business parks. In some markets, tech firms occupy more than 20 percent of Grade A space, including Indian cities New Delhi, Mumbai, Bengaluru, Chennai, as well as Tokyo, Bangkok, Manila and Sydney.
The top three factors driving companies' office location choice include access to talent, supportive government policies, and cost. Supportive government polices include incentives such as tax holidays and rental rebates, and has been observed to be particularly attractive to companies. Cost remains an important factor too, with several tech companies exploring shifting data centres off-site as one of their cost-cutting strategies.

Hong Kong's property prices expected to rise further

As one of Asia's, if not the world's, most expensive cities to live and work in, it comes as no surprise that the real estate in Hong Kong is one of the world's costliest.Despite the Hong Kong government's repeated attempts to cool the market, with implementation of stamp duties and laying down of other purchasing restrictions, property prices in Hong Kong have continued to climb. And things could be heating up even more this year as even Mr Li Ka Shing, the country's richest man, predicts the market still have room for property prices to climb further. In November last year, private property prices reached a peak unseen since 1979 when the data was made available by the city's rating and valuation department.
Although there has been some political unrest, mostly civil, in the city and interest rates have been on the rise, there is still space apparently, for slight rise in prices this year. It will not be a smooth ride up, but there will be increments made nonetheless. China Overseas Land and Investment for example has listed the prices of their latest private residential development in the former Kai Tak airport area for almost 20 per cent higher that the same which were sold in August. In a city where liveable land is scarce, developers have been known to pay exorbitant prices for land sites, for example the record ids for sites in the same Kai Tak airport area for US$1.8 billion or S$2.58 billion.

Sparks of hope in property market

Despite the prolonged property lull, analysts are hopeful that a few sparks of recovery will begin to rejuvenate the market this year. The office sector may boost the commercial market while high-end luxury homes will hold up the residential property segment.
As far as regions go, the core central region is heating up in terms of foreign interest in both residential and commercial properties. The sliding private home prices, by 11 per cent since 2013, have brought investors back into the luxury homes market. Currency valuation will however continue to play a part in the movement of investment money, and Singapore will still have to compete with other cities such as Melbourne, Sydney and Shanghai for investors' attention.
Compared to other major cities such as Hong Kong, New York and London however, apartment prices here have fallen and will become more appealing to foreign buyers as the potential for yields in the medium term is considerable, especially as these specific market segment is expected to perform well this year.
The collective sales market is another to watch in 2017, as developers are expected to collaborate to build up their store of land sites for long term yields. There might also be acquisitions of smaller developers by larger ones in order to participate in the government land sales programme. Property prices are expected to remain stable but depending on a property's rental yields as a means of investment or profit could become less attractive as investors find it more difficult to find tenants in an increasingly competitive market.

For more District Guides, you can head over to iProperty.com Singapore.

A Soft TouchAre you on the hunt for the perfect fabric for your home? Our friends over at Roselle Mont Clair are experts at manufacturing textiles that are tailor-made for interiors. From sheer curtains to hardwearing upholstery to soft cushion covers, you can easily find something that works for your home.
www.rosellemontclair.com
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Italian PerfectionWe can't take our eyes off the Ego Claudie, an Italian-made sofa with good looks and great quality. It is available in different configurations - like 3-seater or L-shaped - making it the perfect fit for living rooms of any size.
Ego Claudie sofa, price on enquiry, from Furniture Clubwww.furnitureclub.sg
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In The FoldThe Bend chair looks like an unfolded origami paper, complete with creases, folds and edges. But unlike the flimsy paper creations, these chairs are strong and sturdy and bring a graphical slant to spaces. The Bend chair comes in a variety of bright colours.
Bend chair, price on enquiry, from OMwww.om-home.com
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Natural Rest Reduce your carbon footprint and sleep easy with the Coco-Mat range of environmentally friendly and biodegradable bedding. Instead of springs or coils, the mattresses are made using 100 per cent natural materials like coconut fibre, natural rubber, goose down, oakwood, seaweed, eucalyptus, horsehair and cactus fibre, all of which promise better sleep support. Not convinced yet? Coco-Mat mattresses and bedding can be found in the Diamond First Class cabin of Etihad Airways and top hotels and resorts around the world.
Coco-Mat bedding, price on enquiry, from Grafunktwww.grafunkt.com
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Dine on DinoYou can have your cake and eat it too, on a dinosaur cake stand, no less! The Sauria cake stands from Seletti are designed for the quirky, fun-loving homeowner who wants to dish out dessert on a T-rex, brontosaurus or triceratops.
Seletti Sauria cake stand, $103 onwards, from Fred Lives Herewww.fredliveshere.com

Visit

for more inspiring home designs.

For more District Guides, you can head over to iProperty.com Singapore.

Singapore is first in many things, but we aren't quite sure we should be proud of the fact that we have been named as the world's most expensive city once again. While we may not feel the pinch when buying daily groceries and eating at the hawker centres, the picture is a world of difference when it comes to owning a car and buying a property.
Sky-high car and home prices here in Singapore are definitely shocking compared to those in other countries. However, those living here might already be so used to the situation of having to take out a loan when it comes to buying a roof over our heads. In fact, the little red dot has quite a good score of home-ownership that's over 90%. Obviously made possible only with the help of mortgage loans, as most of us are definitely not millionaires.
Since it is quite the Singaporean dream to have a property to our name, it makes sense for us to understand the complicated terms bankers and mortgage brokers use when we take up a home loan. Having a basic understanding of the terms will help you understand what you are signing up for, since it is probably going to be one of the biggest financial commitments you make in your lifetime.

Here are 15 important terms and acronyms you are likely to come across when taking up a home loan:
1.Home Loan / Mortgage LoanIt may seem like common sense, but some people neglect the fact that your home is used as a collateral when you take out a home loan. Missing repayments could result in losing the roof over your head.
2. Interest RateInterest Rate is the cost of borrowing. In terms of mortgage loans, they are usually classified as fixed, variable or board rate.
A fixed rate loan charges the same interest rate throughout the duration of the loan.
A variable rate loan offers rates that are changed periodically to match the benchmark interest rate it is following. You should ask the bank about the calculation of the variable rate and which benchmark they follow. One of the most common benchmark rates is the Singapore Interbank Offer Rate (SIBOR).
3. Singapore Interbank Offer Rate (SIBOR)SIBOR refers to the rate at which banks here lend/borrow funds from each other. It is quite common for banks in Singapore to use the SIBOR as a benchmark to price their home loans. For instance, your home loan rates might be the 3-month SIBOR plus a margin rate charged by the bank.
4. Swap Offer Rate (SOR)Another benchmark rate used to price home loans is the Swap Offer Rate (SOR). Comparatively, it is more volatile than the SIBOR as it takes into consideration the exchange rates between the US dollar and Singapore dollar. The advantage of taking up a SOR-rate loan is that in a declining interest rate environment, the SOR is likely to fall faster than the SIBOR.
5. Approval-In-Principle/In-Principle ApprovalApproval-In-Principle (AIP) is a non-binding pre-approved loan amount given by the bank based on the credibility of the borrower. This amount indicates how much you will be able to borrow and is useful in helping you limit the type of homes you can afford. The AIP/IPA is typically valid for 30 days.
6. Letter of Offer The bank will issue the borrower a Letter of Offer (LO) upon acceptance of the loan application. It is a contract that states the terms of the loan package offered.
7. Loan-to-Value (LTV) RatioThe Loan-to-Value (LTV) ratio is the amount you can borrow calculated as a percentage of the valuation of your property. LTV ratio may be up to 80% if you do not have any other outstanding loans.
8. Lock-in PeriodThe lock-in period refers to a set number of years where the borrower will need to stay with the loan package. There is usually a penalty should he/she decide to change the terms of the mortgage loan.
9. Early RedemptionAn early redemption refers to the repayment of the home loan before the end of the loan tenor.
10. Valuation FeeThe bank will require a valuation of the property so as to calculate the maximum amount of loan they can lend. An independent valuer usually does the valuation and a valuation fee will have to be paid to determine the market value of the property.
11. Conveyance FeeA conveyance fee is incurred for the legal and administrative work involved with the transfer of the ownership of the property from one owner to another. The lawyer will check through the details of the contract, ensuring that there are no restrictions on the ownership transfer.
12. Temporary Occupancy Permit (TOP)A Temporary Occupancy Permit (TOP) is issued when the building works are completed. The building can only be occupied when a TOP is granted.
13. Joint TenancyJoint tenancy refers to a situation where all the owners of the property have an equal interest in the property; regardless of the amount of money each of them has paid for the purchase of the property. Married couples usually opt for joint tenancy as the property is automatically passed on to the surviving co-owner(s).
14. Mortgage Reducing Term Assurance (MRTA)A MRTA is a mortgage insurance that protects the borrower's family from losing the home should the borrower pass away or become disabled before the home loan is fully repaid. This can be especially important if the borrower is the sole breadwinner of the family or have dependents. While it is mandatory for all HDB flat owners to subscribe to the Central Provident Fund (CPF) Board's Home Protection Scheme for those who are using their CPF to repay their housing loans, the same law does not apply to private property owners.
15. Refinance/ RepricingRefinancing refers to applying for a new home loan with a different bank so as to replace the existing one. Most people do it so that they can take advantage of a loan with a lower interest rate. You should check for any penalties you might incur if you cancel your existing loan, especially if it is still within the lock-in period. You can also choose to reprice your loan by applying for a new loan with the existing bank if they currently have a better loan package for you.
At the end of the day, it is important to note that taking up a home loan is not just about the interest rate. Neither is it about learning to understand the complicated jargon or overcoming the tedious paperwork process. Be sure to review them every now and then, or have someone who is an expert to get the job done for you!

Article by Jacqueline Conceicao, Associate Director, Redbrick Mortgage Advisory

For the full article, please visit

For more District Guides, you can head over to iProperty.com Singapore.

Local Property News
Fall of private home rents put dampener on market

For the 6th month in a row, private home rental rates have fallen with an even sharper 1.3 per cent drop last month. In the HDB market, rental prices have however edged up by 0.2 per cent. The overall decline in rents is smaller in this market, at 3.7 per cent for the entire year of 2016. In the private property market however, for the whole of last year, rents have fallen 6.2 per cent and in a year-on-year comparison with January 2013, almost 20 per cent.
Not in particular good news for those who have been counting on rental yields to help with their multiple property mortgages. Plus a probable interest rates hike this year, the market could be looking at more sellers putting their property in auction sales or banks being more active in their mortgage auction sales. This could however work in the favour of buyers who have been looking for a home to live in. The closing price gap between private housing and higher-end resale public housing may also cause some contention and competition, with location and floor area possibly being the deciding factor for many.
Not only has rental rates fallen, so has leasing volume. The number of condominium apartment leases fell to 3,691 last month, down 2.2 per cent from November's 3,775 units. Last December's leasing volume however is 17.1 per cent higher than in the same period in 2015. Overall, the rental market is weakening and investors can no only rely on rental yields to help tide them over.
New Siglap condominium to offer sea views

Photo credits: officialseasideresidences
Fancy residing by the sea? The residential condominium development with just that specification in its name - Seaside Residence - will be launched by end April, likely to the cheers of many happy sun-and-sea seekers.
The new 843-unit private residential project developed by Frasers Centrepoint Singapore is lauded as one of the first seaside developments along East Coast Park (ECP) to be launched in 15 years. Situated next to Victoria School, the land site was first put on sale in 2001 and finally sold to a consortium helmed by Frasers to the tune of $624.18 million last January.
Boasting sea views for at least 70 per cent of its units, Seaside Residence will have 4 residential blocks, each 27-storey tall, consisting of one- to five-bedroom apartments and penthouses ranging between 424 sq ft and 2,690 sq ft in size. It will also be situated close to the upcoming Siglap MRT station on the Thomson-East Coast line and prices are expected to start from $1,550 to $1,650 psf. Comparatively, average prices of units at Marine Blue and Amber Skye currently stand at $1,700 to $1,800 psf.
The East Coast area has always been popular real estate with expatriates as well as young professionals and families. The cluster of schools in the area, this heritage-soaked district and its laid-back style have always been what drew buyers and investors to this region. As a mature estate, demand for new units have always been much welcomed, as seen by sales of Gem Residences in Toa Payoh.
With the sea views, an 115-metre long infinity pool and sky terrace, this launch looks like it will certainly be more than a drop in the ocean come April.

Fierce bids for Perumal Road land site

A mixed-use land site on Perumal road which could potentially yield 200 private homes and an entire floor of commercial spaces have attracted bullish bids from property developers since its release in November last year.
11 bids have been placed, the highest at 4.4 per cent more than the next in line came from Low Keng Huat at $174.08 million. The second highest bid came from China Construction (South Pacific) development. The keen activity in the land sales sector could translate into a competitive primary and thereafter secondary market which will in turn mean a ready pool of buyers who are ready to spend after the prolonged market lull over the past few years.
Average selling prices at this site is expected to hover around $1,700 psf due to the high land cost and also its proximity to the Farrer Park MRT station and other amenities such as City Square Mall and Mustafa Centre. The neighbouring plot where Sturdee Residences stands only lodged at $787 psf.
The lack of land sites available for sale in the earlier part of 2016 could have resulted in pent up demand from developers who are looking to replenish their lank banks in preparation for 2018 and beyond when market recovery is expected to happen. Property analysts are already seeing signs of market stabilisation and developers who prepare ahead of the recovery could just catch buyers at an opportune time.

More condo developments offering deferred payment plans

As the number of completed private home units in the market rise without the same exponential reaction from buyers, developers are finding it increasingly difficult to move remaining units.
More developers have been seen to offer incentives such as a deferred payment scheme in order to entice buyers. One of the latest to hop on the bandwagon is TG Development's The Peak @ Cairnhill II. Following good response to their previously-launched deferred payment scheme, CapitaLand has added Sky Habitat to their other 2 properties, d'Leedon and The Interlace, offering the same incentive. Their stay-then-pay option allows Singaporean buyers to make a 10 per cent down payment (15 per cent for foreign buyers) within 8 weeks to exercise the option to purchase and the other 90 per cent within a year from that even while living in the unit.
Some other properties such as One Balmoral are offering sweeteners such as direct discounts. The freehold 91-unit condominium in prime district 10 has offered a 13 per cent discount on all their units with prices averaging at $2,150 to $2,200 psf. Over at the waterfront-style Corals at Keppel Bay, the developer is offering $50,000 off selected units with average prices working out to be around $1,850 psf.
The increasing number of unsold units in the market, industry experts are not yet concerned about new launches coming up this year. New blood will likely inject active browsing and buying sentiments into a stabilising market, and with prices holding steady buyers are likely to take the bait, and the effect may very well trickle down to the secondary and other sectors.

2017 to welcome more bulk sales?

Photo credits: iLiv@Grange
As Qualifying Certificate (QC) deadlines close in on more residential projects, bulk sales could the difference between having to pay hefty penalties and escaping by the skin of their teeth. The Qualifying Certificate which developers are issued with once they purchase a private residential land plot binds them in a contract to finish building the project within 5 years of acquiring the land and to sell all units within 2 years of obtaining a temporary occupation permit (TOP). Should there be remaining units after this time, the developers will be required to pay extension charges.
The Qualifying Certificate which developers are issued with once they purchase a private residential land plot binds them in a contract to finish building the project within 5 years of acquiring the land and to sell all units within 2 years of obtaining a temporary occupation permit (TOP). Should there be remaining units after this time, the developers will be required to pay extension charges.
The most recent bulk sale of the 45 remaining units at The Nassim has helped developer CapitaLand avoid having to possibly pay up to millions of dollars worth of penalties as their QC deadline is in August this year. Mr Wee Cho Yaw, chairman emeritus of United Overseas Bank has paid $411.6 million for the 45 units with a strata area of 16,466 sq m at an approximate 18 per cent discount on the current sale price of individual units. The development consists of 55 units housed in eight 5-storey blocks, and the other 10 units have been sold to individual buyers.
Other recent bulk sales include the 156 units sold at a 16 per cent discount at Nouvel 18 and 30 units sold at a 23 per cent discount at iLiv@Grange. Though this enbloc exit of units may relief the unsold inventory of some pressure, more completed units are entering the market this year and may we could be looking at more bulk sales in the year ahead.

For more District Guides, you can head over to iProperty.com Singapore.

What are stamp duties?
A stamp duty is a tax on documents related to the purchases and leases of properties (e.g. Sales & Purchase Agreements, Tenancy Agreements, etc.). Stamp duties are paid to Inland Revenue Authority of Singapore aka IRAS - the same people you pay your income tax and property tax to.
You have 14 days to stamp your document aka pay stamp duties after signing your document (or 30 days if the document is signed overseas) before IRAS will slap you with a penalty for late stamping. The penalties can be pretty hefty, and looks like this:
• $10 or an amount equal to the duty payable, whichever is greater, for late payments not exceeding 3 months
• $25 or 4 times of the duty payable, whichever is greater, for late payments exceeding 3 months
That's a lot of money!

Buyer's Stamp Duty
Buyer's Stamp Duty (BSD) is paid when you purchase a property in Singapore. A property is considered purchased when you exercise your option to purchase or when you execute the sales and purchase agreement. It is calculated based on the purchase price or the current market value of the property (as assessed by a valuer), whichever is higher.
It is not uncommon for property developers to dangle cash rebates or furnishing vouchers to entice buyers. For example, the list price of the property you are purchasing may be $1 million and the developer promises a cash rebate of $100,000 to be paid to you after the property is completed - the cash rebate may be deducted from the purchase price to calculate the amount of stamp duty you need to pay. In this case, the BSD is payable on $900,000 instead of $1 million.
Here's how BSD is calculated:

On the first S$180k	1%
On the second S$180k	2%
Thereafter	3%

For example, if you buy a property at S$1 million, you would have to pay S$1,800 (on the first S$180k); plus, S$3,600 (on the second S$180k); and S$19,200 (on the remaining S$640k). Thus, the total BSD amount payable would be S$24,600.
BSD has to be paid for within 14 days of1. Exercising the Option to Purchase (OTP); OR2. Signing of the Sales & Purchase agreement if there is no OTP; OR3. The date of transfer, if both OTP and Sales & Purchase agreement are not available.

Additional Buyer's Stamp Duty
The Additional Buyer's Stamp Duty (ABSD) was first introduced on 8 December 2011. It was imposed on top of the BSD, and applied to the purchase price, or the current market value of the property, whichever is higher. The initial ABSD rates were as follows:

Citizen type	Buying 1^st residential property	Buying 2^nd residential property	Buying 3^rd and subsequent residential property
Singapore Citizen	NA	NA	3%
Singapore Permanent Resident	NA	3%	3%
Foreigners and non individuals	10%	10%	10%

ABSD rates from 8 December 2011

In 2013, the ABSD was revised, to further slow down the growth of the property market:

Citizen type	Buying 1^st residential property	Buying 2^nd residential property	Buying 3^rd and subsequent residential property
Singapore Citizen	NA	7%	10%
Singapore Permanent Resident	5%	10%	10%
Foreigners and non individuals	15%	15%	15%

For example, if you are a foreigner buying a property at S$1 million, you will have to pay S$150,000 in ABSD. On the other hand, if you are a Singapore permanent resident, you will have to pay S$50,000 if you are buying the same property - assuming this is your first property.

Frequently Asked Questions on ABSD
1. If I buy a residential property with someone who already owns another residential property, how much ABSD do I have to pay?
In the event that a property is jointly acquired, the profile with the highest ABSD rate will be applied.
2. Can I buy a residential property under a company or trust?
Yes, you can, the ABSD rate of a non-individual will apply.
3. I purchased a property that is under construction and a title deed has not been issued yet. If I purchase another property, do I have to pay ABSD?
A property is considered in the count of properties if a contract or agreement to purchase the property has been signed. This includes if the property has not been legally transferred, as well as an uncompleted unit purchased from developer under a Sale & Purchase Agreement.
4. I own half shares in 2 properties. Am I considered as owning 1 property if I want to buy the next?
A property is considered in the count of properties if an owner owns any share of interest in a property, be it a partial share or in full.
5. I own a property on behalf of someone else. Do I have to pay ABSD if I want to buy another property?
If a property is held in trust for a beneficial owner, the property is considered as a count for he/she.
6. If I buy 2 properties at the same time, do I have to pay ABSD?
If more than 1 property is bought together under a single contract, each property will be counted separately. Additionally, the buyer can choose the property to be subjected to ABSD.
7. A property was passed down to me in a will. Does that count as 1 property if I want to buy the next?
Any property acquired or transferred by gift, release, settlement, declaration trust letter of authority and exchange are each considered as a count of property.
8. I own a HDB commercial shophouse with living quarters upstairs. Does it count?
A property is considered in the count of properties if a HDB shophouse or shop with living quarters is permitted for residential use.

How can I be exempted from ABSD?
You don't have to pay ABSD, or you can have your ABSD refunded in the following scenarios:
1. First matrimonial home
If you're Singaporean, married, and buying your first property to stay in, you can apply to have your ABSD refunded even if your spouse is a permanent resident or foreigner.
For example, a Singaporean husband and a foreigner wife jointly purchases their first residential property to be used as their matrimonial home, they would first have to pay 15% ABSD (based on the status of the foreigner wife). They can then apply for remission for ABSD.
2. Selected nationalities
- United States of America- Norway- Switzerland- Iceland- Liechtenstein
Thanks to the Free Trade Agreement, nationals and permanent residents* from these countries would be given the same treatment as Singaporeans when purchasing a property.
*only nationals of the United States are given the same treatment as Singaporean, permanent residents are not inclusive
3. On upgrading of your matrimonial home
If you are buying another property as a married couple to stay in, and will be selling your first property within 6 months, you can apply for ABSD remission.
If the property purchased is uncompleted, you can apply for ABSD remission as long as your first property is sold within 6 months from the date of issue of Temporary Occupation Permit (TOP) / Certificate of Statutory Compliance (CSC).
You must not have bought any other residential property after purchasing the second one.

4. Developers
If you are buying residential land and will be developing four or less residential units, you can also apply for ABSD remission.

Decoupling
What is decoupling?
Decoupling is the transfer of ownership of a property from one co-owner to the other. This results in the property solely owned by just one party.
You can decouple from a property by two methods: way of gift or part purchase.
1. Way of gift
You give up your share of the property to your spouse without any monetary consideration (or vice versa).
Do note that this can only be done when there is no outstanding loan on the property. Additionally, CPF and accrued interest of existing party will be refunded.
2. Part Purchase
You sell your share of the property to your spouse at market value (or vice versa).
CPF with accrued interest will be refunded, and he/she will have to take over the existing bank loan if there is any.
Why decouple?
Whether you choose to decouple by way of gift or by part purchase, the end goal is simple: to free up one co-owner so that he/she can purchase another property as his/her first property. This would then allow you to avoid paying ABSD and you will also be eligible to take up a loan up to 80% of the property value.

For more information on Stamp Duties, log on to http://iras.gov.sg.

Article by Sophia Sim, Associate Director, Redbrick Mortgage Advisory
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Commercial Tower 1

Commercial Tower 2
Paya Lebar Quarter Office Buildings First in Singapore to Register for New Global Building Standard Focused on Occupant Well-being and Productivity
Singapore, 23 January 2017 - Paya Lebar Quarter by Lendlease, a $3.2 billion mixed-use development, is the first in Singapore to register for the International WELL Building Institute's (IWBI) WELL Core and Shell Certification for nearly one million square feet of Grade A workspaces across its three office towers. The commitment to pursue WELL Certification in Singapore is a testament to Lendlease's leadership in sustainability and the development's vision to create an Active, Green and Engaged precinct that can enhance the well-being and productivity of the people who will come to work in these spaces every day.
Administered by public benefit corporation IWBI, the WELL Building Standard™ (WELL) is the world's first building standard focused exclusively on increasing the well-being and productivity of occupants. The program uses a performance and evidence-based system, based on medical and scientific research to provide investors and tenants with measurable benefits addressing health and well-being concerns for workplaces.
The public space design of Paya Lebar Quarter, together with its retail, entertainment and leisure experiences, deliver a complete work ecosystem integrating work with other lifestyle activities to connect people beyond their workspace. Signature features of Paya Lebar Quarter aligning with the principles of the WELL Building Standard are the 100,000 square feet of green public spaces seamlessly connected to the Park Connector Network and excellent end-of-trip facilities for the office tenants such as showers, lockers and bicycle lots that promote active lifestyles.
The biophilic design with green spaces in the public plaza, promenade and the sky gardens for the three office towers reflects the benefits of integrating nature into the places and buildings that make up our cities, helping elevate a sense of well-being.1 Research has shown that a 40 second micro-break viewing a green roof resulted in higher concentration levels as compared to a view of a concrete roof.
"Paya Lebar Quarter is a pioneering project in Singapore that demonstrates leadership in sustainability, in line with the national agenda - one that is increasingly looking at integrating health and wellness components into a holistic approach to create a sustainable future. Registration for WELL Certification aligns with our mission to create a happier, healthier and ultimately more productive workforce and community here in Paya Lebar Quarter," said Mr Richard Paine, Managing Director of Paya Lebar Quarter by Lendlease.
"Healthy workplaces can lead to improved productivity and reduced absenteeism, staff turnover, and medical or insurance claims. Organisations now look beyond the monetary cost of occupying a building; they are placing emphasis on the productivity of the workforce occupying it," said Mr Paine.
Approximately 90 per cent of a business's operating costs are tied to staff-related expenses3. Therefore, a modest improvement in employee health or productivity can have a significant financial implication for employers.
"The research is proving what we've known intuitively - that investing in things that improve the health and well-being of our employees leads to improved employee satisfaction and engagement levels," said Mr. Rick Fedrizzi, Chairman and CEO of IWBI. "WELL provides a pathway for extending a company's efforts from creating green and efficient workplaces to green and healthy environments for its most important asset - its people. Progressive investors and tenants alike recognize that this people-first approach of encouraging healthier workplaces is key to boosting overall productivity."
Future office occupants at Paya Lebar Quarter can also access the Wi-Fi-enabled public spaces for opportunities to take their work outdoors. The quality retail, entertainment and food choices will not only ensure interesting and healthy food choices, but foster social bonding and collaboration among colleagues.
The office towers will also include enhanced air filtration beyond industry standards to optimise the amount of outdoor air being supplied into offices based on office occupancy and outdoor air quality. Other health and well-being considerations include floor to ceiling glazing that invite natural daylight into the workspaces and provide excellent window views of the green public realm whilst maintaining thermal comfort to boost concentration for focused work.
The WELL Core & Shell Certification that Paya Lebar Quarter is pursuing is now available for new core and shell developments or multi-tenant buildings seeking to implement the basic conditions necessary to achieve WELL Certification. WELL is designed to work harmoniously with leading international green building systems to best address both human health and environmental sustainability within buildings. Through the certification process, these pioneering projects will help drive rapid harmonization of WELL with green building rating systems around the world, such as LEED, Green Star and BREEAM.
Paya Lebar Quarter follows the International Towers at Barangaroo South Sydney, a project by Lendlease, in leading the internationalization of WELL Core and Shell Certification. Lendlease and wellness real estate firm Delos first announced their alliance in November 2015 to bring human health and wellness innovations to Lendlease markets around the world through adoption of the WELL Building Standard.
Alfresco
Promenade
Public Realm

About Paya Lebar Quarter
Paya Lebar Quarter will be a centrally located mixed use development and a key catalyst to URA's masterplan to transform Paya Lebar into a regional business hub set in the heart of historical cultural districts. Directly connected to the dual MRT lines at Paya Lebar, the centrally located Paya Lebar Quarter is just 10 minutes away from the CBD, offering unprecedented convenience and connectivity.
The 4-hectare mixed-use development will comprise close to one million square feet of next generation work spaces in three grade A towers, a standalone shopping mall with a total retail area of 340,000 square feet with over 200 shops. There will be a great range of indoor and experiential alfresco dining set in generous green public spaces of over 100,000 square feet. The 429-unit residential development sits on an exclusive plot with convenient covered access to shopping and lifestyle amenities, delivering the best of city life.
Paya Lebar Quarter is a project by Lendlease, an international company with a strong track record in urban regeneration projects around the world. In line with its vision of creating the best places, Lendlease will bring world class place making design in city living to Paya Lebar Quarter.
For more information, visuals and a preview of how Paya Lebar Quarter will lead the transformation of Paya Lebar into a dynamic business and lifestyle hub, please visit www.payalebarquarter.com.
About the International WELL Building Institute
The International WELL Building Institute (IWBI) is a public benefit corporation whose mission is to improve human health and well-being through the built environment. Public benefit corporations like IWBI are an emerging U.S. structure for corporations committed to balancing public benefits with profitability - harnessing the power of private capital for greater good. IWBI administers the WELL Building Standard™ (WELL) - a performance-based system for measuring, certifying, and monitoring features of buildings that impact the health and well-being of the people who live, work, and learn in them. Fulfilling the vision of IWBI Founder Paul Scialla, IWBI has a pioneering altruistic capitalism model that will address social responsibility and demonstrate a sustainable model for philanthropy. IWBI has committed to direct 51 percent of net profits, after taxes, generated by registration fees, certification fees and recertification fees received from real estate projects applying for WELL Certification toward charitable contributions and impact investment focused on health, wellness and the built environment. IWBI was established by Delos in 2013 pursuant to a Clinton Global Initiative commitment to improve the way people live by developing spaces that enhance occupant health and quality of life by sharing the WELL Building Standard globally. www.wellcertified.com
About the WELL Building Standard
The WELL Building Standard (WELL) is a performance-based system for measuring, certifying and monitoring features of the built environment that impact human health and well-being. Launched in 2014, more than 325 projects encompassing 70 million square feet are now registered or certified under the WELL Building Standard in 27 countries. WELL is administered by the International WELL Building Institute (IWBI), a public benefit corporation committed to improving human health and well-being through the built environment. www.wellcertified.com
About Lendlease
Lendlease is a leading international property and infrastructure group. We are listed on the Australian Securities Exchange with 12,000 employees worldwide. Our capabilities span the entire property spectrum - development; investment management; project management & construction and asset & property management - and our expertise covers multiple sectors including commercial, life sciences, residential, retail, hospitality and education.
Lendlease's vision of creating the best places - places that meet the varied, nuanced and personal needs of the people who live and work there - is achieved by curating an indelible connection between people and places.
We create innovative, sustainable and quality property solutions, forging partnerships and delivering value to clients, investors and communities. Through design and investment in new technologies, we are delivering the next generation of sustainable property solutions. Safety is our number one priority and we are committed to operating Incident & Injury Free.
For more information about Lendlease, please visit www.lendlease.com. We are known as 联实 in Chinese.

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The pound may have rallied following Theresa May's Brexit speech, but there's still a huge investment window of opportunity for Singaporeans in Britain.
While the vote for Brexit has caused fluctuations in equities and bond markets, UK real estate continues to go from strength to strength.
And, despite the sterling's recent biggest single-day rally against the US dollar for nine years, British real estate is currently available at 14% of the cost for Singaporeans than it was just seven months ago.
Sterling's rise cannot erase the losses it's suffered over the last few months
On January 17th, UK Prime Minister Theresa May delivered a highly-anticipated speech on Brexit to the press and delegates at Lancaster House in London. She confirmed that the UK will be leaving the single market, and that her final negotiation proposal will be discussed in both Houses of Parliament before she formally triggers Article 50 and begins Britain's withdrawal from the European Union.
The impact of the speech was notable in financial markets. With some of the uncertainty about the UK's economic future, that's been lingering ever since the British electorate voted for Brexit in June's EU referendum lifted, the pound posted its biggest rise against the dollar since the summer.
Indeed, sterling shot up nearly 3% against the dollar during afternoon trading, hitting $1.2397, its biggest single-day gain against the US dollar since 2008, before trading at $1.2384 at closing time.
However, it's important to put the rally into a seven-month context.Against the Singapore dollar, the pound stood at S$1.755 on January 18th. But on June 23rd, when the markets had expected a remain vote by the British people, it closed at S$1.99768.
For Singaporeans, it means UK assets are still 14% more affordable.
Supply and demand fundamentals still key to UK property success
While cooling measures continue to stunt growth in Singapore's real estate sector, average property prices in the UK rose above £300,000 for the first time at the start of January. Additionally, rents in some parts of the country increased by as much as 6.4% in 2016.
Britain simply doesn't have enough homes to keep pace with demand. New UK property listings coming onto the market fell by 46.9% in December over the previous month, underlining the significant supply to demand imbalance that the market is enduring.
It's also the reason why investors are seeing their returns flourish, and why UK property performance is resistance to external economic volatility.
An opportunity to invest in the future
Housebuilding is currently right at the top of the UK's domestic political agenda for the first time in a generation. But the government is acutely aware that the sustained demand for new property isn't just restricted to the owner-occupier sector.
An additional 1.8 million households will become private renters by 2025. Not only would this take the total to 7.2 million, but it would mean that one in four UK households will be renting in eight years' time.
Yet the rise in renting comes as the country's private rented sector is undergoing a revolution. Tenants no longer want traditional buy-to-let property, homes that were never designed for renters. Similarly, the government wants the sector to move towards a more professional model with greater levels of management and regulation.
The ResPublica think tank supports the claims from many in the UK property industry that 2017 will be the year of build-to-rent. Knight Frank estimates the purpose-built rental market will be worth £50 billion by 2020 and, with the government curbing investment into the buy-to-let through increased taxation, build-to-rent is also the future of UK property investment, as well as rented living in Britain, too.
With the currency window of opportunity that currently presents itself for international investors, should you be considering adding a UK property to your portfolio?
Affinity Living Riverview is the latest development from leading UK developer Select Property Group. Located in the heart of Manchester, close to key work and transport hubs, Affinity Living Riverview offers fully managed rental properties and assured yields in one of the tallest buildings on the city's skyline.

For more information, please visit

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Are you thinking of giving your home a new face lift in 2017? Here's the good news! We have compiled for you the TOP 10 home designs as voted by 4,000 homeowners via Nestr app, so you don't have to crack your brain searching for new home inspiration.
#10: RiverPacComing in at the 10th spot, we have this contemporary-modern condo at Punggol that kept its primary colours simple and muted. And by creatively pairing it with darker tones of home furnishing, this design keeps the space looking neatly elegant, without looking heavy.

Type: CondoInterior Designer: Voila DesignDesign Style: Contemporary, ModernRenovation Cost: $50,000Size: 167 sqm

#9: 670B Edgefield PlainsIf you're looking for a home design that makes you feel cozy and homely, then this must be it! Making it as the 9th most popular home design, this retro apartment in Edgefield Plains kept its interior design simple and fuss-free. Paired with basic home furnishing, this home is sure to make you feel carefree and at ease.

Type: HDBInterior Designer: Cozy Ideas Interior DesignDesign Style: Retro, RusticRenovation Cost: $25,000Size: 93 sqm

#8: Tampines Green TerraceIf you're a fan of all things Industrial, then you won't want to miss this 8th most popular home design. With its brick walls, industrial lightings, and a low renovation cost of only $20,000, it's a sure-go for Industrial design lovers, isn't it?

Type: HDBInterior Designer: Vinterior DesignDesign Style: Contemporary, Industrial, ScandinavianRenovation Cost: $20,000Size: 93 sqm

#7: Bedok Ria CresComing in the 7th place, this home in Bedok brought in a mix of Scandinavian and Minimalist design to keep the space looking airy and spacious. If you're someone who can't stand any clutter, this is definitely the kind of design you should follow!

Type: LandedInterior Designer: De Style InteriorDesign Style: Contemporary, Minimalist, Scandinavian

#6: Hofe @ Circuit RoadComing in at 6th spot is this Contemporary-Scandinavian apartment in Circuit Road. Unlike the usual apartment designs you will see, this home focuses on the use of geometric shapes to keep the space always looking eye-catchy and outstanding!

Type: HDBInterior Designers: Distinct IdentityDesign Style: Contemporary, ScandinavianRenovation Cost: $50,000

#5: 10 Simei RiseIn the 5th spot, we have this condo from Simei. Contemporary and Scandinavian designs are the 2 most loved design styles. And this home combined both styles to make the home look even bigger than it really is. What's even smarter, is how it made use of texture (e.g. brick walls) to keep the space far from looking boring!

Type: CondoInterior Designer: De Style InteriorDesign Style: Contemporary, ScandinavianRenovation Cost: $38,000Size: 4-room

#4: Stairway to Heaven @ Jalan KayuMost homes tend to keep the living room as the focus. But this 4th most popular home design from Jalan Kayu begs to differ. From filling up the entire kitchen wall with a chalk board, to having a short staircase that doubles up as a cozy corner, this home design has a kitchen that's sure to make you keep checking it out. Chef-wannabes, are you up for such a cool home design?

Type: HDBInterior Designer: Distinct IdentityDesign Style: Chic, ContemporaryRenovation Cost: $42,000

#3: Ghim Moh LinkAnd at the 3rd position, we have this apartment at Ghim Moh that's keeping everyone in awe, with its well-balanced pairing of grey interiors and light-wood furniture. This, together with its simple home furnishings, makes the home a winner in making you feel carefree!

Type: HDBInterior Designers: Free Space IntentDesign Style: ScandinavianRenovation Cost: $59,000Size: 91 sqm

#2: The RaintreeIf you're a resort lover, we can bet with you, you'll fall in love with this one! Coming in the 2nd position, this Raintree condo combines Nature and Resort styles to make you feel like you are away in a villa, relaxing your day away. If only we could really move in there right now!

Type: CondoInterior Designers: Interir LivingDesign Style: Nature, ResortRenovation Cost: $85,000Size: 106 sqm

#1: 807B Chai CheeAnd the most coveted spot goes to.... *drum roll*... this home in Chai Chee!With a black wooden dining table by the side, paired with geometric lighting, doesn't this make you feel like you are back in a school canteen?

Type: HDBInterior Designers: Voila DesignDesign Style: Café, Contemporary, Industrial, Minimalist, RetroRenovation Cost: $35,000Size: 95 sqm
So, of these top 10, which have you fallen in love with?

See more of these on Nestr app!

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2017 HEADWINDS TO DRIVE RETAILERS TOWARD 'SMART' RETAILING, increased business efficiency and THE adoption OF MULTI-LIFESTYLE CONCEPTS

The Singapore retail market continued to be weighed down by the soft global and local economic conditions, weak retail spending, rising business cost and labour crunch in 2016. As retailers continued to consolidate, demand for retail space remained soft, imposing downward pressure on retail rents. Moving forward, landlords and retailers are expected to drive greater innovation and creativity in their business strategies to attract shoppers in 2017.

This report also expounds on three rising retail trends in 2017.

"Both landlords and retailers have to brace themselves for a bumpy ride in 2017. Given the tough market competition, it is important for both parties to take on collaborative efforts in advertisement and promotion initiatives to reach out to a wider pool of shoppers"Wendy Low, Executive Director and Head, Retail

Notwithstanding improvement in retail sales amid the festive season, the retail market continued to remain weak

• The overall Retail Sales Index (excluding motor vehicles; non-seasonally adjusted, at constant prices) fell for the tenth consecutive month by 3.1% year-on-year (y-o-y) in November 2016. Of the 13 retail trade categories, only two expanded on a y-o-y basis, namely Medical Goods & Toiletries (4.4% y-o-y) and Recreation Goods (0.1% y-o-y). All other trade categories contracted, with Telecommunications Apparatus & Computers suffering the largest decline (-12.1% y-o-y), followed by Watches & Jewellery (-11.0% y-o-y) and Wearing Apparel & Footwear (-4.8% y-o-y).

• Employment in the wholesale and retail trade fell for the third consecutive quarter in Q3 2016 by 900 headcounts, a smaller margin of decline compared to the preceding year which saw 2,300 cutbacks in the sector. This could be attributed to the weak retail sales which caused retailers to be cautious in their undertaking of manpower deployment.

• Total visitor arrivals for the period of January to October 2016 increased by 8.3%, compared to the same period last year, to reach 13.7 million. While visitors from China and Indonesia rose by 37.3% y-oy and 5.5% y-o-y respectively in the first ten months of 2016 compared to the same period in 2015, visitors from Malaysia declined by 1.5% y-o-y, possibly a result of weakened Ringgit against Singapore Dollar.

Island-wide prime retail rents continue to moderate in Q4 2016

• On a quarter-on-quarter (q-o-q) basis, prime rents for all locations, except City Fringe, fell in Q4 2016.

• Rents of prime spaces across the island remain weaker than a year ago. This was largely due to the softened global and local economic performance which contributed to the weakened retail spending among shoppers and consequently, caution in expansionary plans among retailers

• Notwithstanding the challenging retail scene, drop in prime rents for retail space along Orchard Road was marginal as the prime shopping district remains highly valued by international retailers to establish the presence of their brand, products and services.

• Average rents of prime space in suburban malls saw the largest decline among the various locations tracked. With a significant supply of suburban mall space, there is an increasing division between the wellestablished and well-managed malls from the weaker and less welllocated ones, leading to a divergence in the performance. While the strong malls continue to see rent hold firm, weaker malls weighed on the overall performance of the basket.

Overall, the retail market proved to be challenging for both retailers and landlords in 2016

• Retailers continued to face strong headwinds in 2016 with growing competition from the e-commerce sector and regional markets, increasing business cost, downsides arising from weak economy, and labour crunch. Technological disruption, in particular those which offer delivery services, gained further traction in the year, with those not latching on finding themselves losing market share.

• In view of economic uncertainty, retailers took on a cautious stance towards business expansion, and leaned towards consolidation strategies to focus their resources on key outlets.

• Both landlords and retailers face continuous pressure to inject creativity and innovation in their business strategies, product and service offerings, and shopping experiences to attract customers amid the intense competition from the market.

• Several interesting concepts are expected to become key trends in 2017, as they are adopted by more landlords and retailers in the coming year.

THREE RISING RETAIL TRENDS IN 2017

TREND ONE: Given the fast-pace adoption of technology in Singapore, more retailers will go 'smart' in 2017 to meet consumers' expectations

• According to a 2015 survey by Deloitte's Global Technology, Media and Telecommunications, Singapore has the highest smartphone penetration globally, indicating their high reliance on technology and mobile convenience.

• In order to keep up with the consumers' expectation, retailers are likely to offer a wide range of payment options that includes mobile wallet such as Apple, Samsung and Android Pay. This will expand retailers' outreach and brand recognition to a wider group of consumers through digital loyalty programs via these 'contactless' payment platform. Such initiatives can serve to improve shoppers' experiences by easing the payment process, and also a reduction in cashier queue times.

TREND TWO: Going 'smart' also ties in with omni-channel strategies, the continuing game-changer in the retail scene

• As consumers are getting more tech-savvy, it is important to enable access to multiple retailing channels for them to seek general product information, communicate with retailers, purchase, make payment, monitor the inventory stock and arrange delivery. This makes it imperative to have a well-integrated, consistent and seamless integration between physical store and online business mediums such as smartphone applications, online websites, and social media portals.

• While this appears to be a retailer-level business strategy, there may be rising mall-level implementations to combat the rising inadequacy of today's brick-and-mortar retail market. For instance, CapitaLand will be launching the reinvented Funan DigitaLife Mall by 2019 to pioneer the new experiential retailing concept that merges both online and offline shopping thrills under one roof. Shoppers will be able to either pick up their purchases at Funan's concierge after they are done with shopping, or to have it delivered to their doorsteps via the 'drive through click-and-collect and hands-free shopping service provided by the mall. Although it remains to be seen how the new mall concept will fare, similar concepts are likely to be adopted by the other retail malls should this be well-received among shoppers.

• Amid the challenging retail scene, the omni-channel strategy will also be able to help retailers better manage labour and occupancy cost. This may be done through improved efficiency on their operational processes by reducing reliance on high manpower-operation model, and the amount of physical rental space required.

TREND THREE: Reinvention and redefinition of physical retail space is vital to make it fun and valuable for shoppers to enhance their shopping experiences.

• Consumers still crave for unique in-store experiences that online shopping is not able to provide them with. This revolves about multi-lifestyle, curated and personalised concepts in the form of product and service offerings.

• Multi-lifestyle retail concept could potentially be the next 'big thing' where retailers think 'out of the box' and fuse complementing retail products and/or services together, allowing shoppers to indulge in an 'interesting-mix' of enjoyment.

• While it may be possible for a single operator to take on multi-concepts, brand collaboration is increasingly being adopted. One example would be a synergistic collaboration between GastroSmiths and HomesToLife where consumers are able to shop for high quality furniture and dine. Other examples include Pact, SUPERSPACE and The Assembly Store where multiple brands come together to create an experiential concept space for shoppers.

Market Outlook

Retail outlook in 2017 is likely to continue as 'bumpy ride' for both landlords and retailers

• Average rents in the Central Region are envisaged to fall by 5.0% to 8.0% by Q4 2017, while the more resilient prime rents to moderate downwards by up to 3.0% y-o-y in the same period.

• Landlords are likely to take on a more proactive role to initiate more advertisement and promotion activities in a bid to attract shoppers into the mall. On the same note, retailers are also expected to explore innovative concepts that integrate both offline and online retailing platforms to enhance consumer engagement.

• The occupancy performance is expected to hover between 90.0% and 92.0% in 2017, after maintaining an average of 92.2% over the first three quarters in 2016. This is in consideration of the close to 2.0 million sq ft Gross Floor Area (GFA) of retail space slated for completion in 2017 amid the heightened level of caution among retailers towards their business strategies due to the uncertain global economic outlook.

About Knight Frank

Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank has more than 13,000 people operating from over 400 offices across 58 countries. These figures include Newmark Grubb Knight Frank in the Americas, and Douglas Elliman Fine Homes in the USA. The Group advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants.

Knight Frank has a strong presence in Singapore with a head office and three subsidiaries; Knight Frank Estate Management, Knight Frank Asset Management and KF Property Network. For further information about the Company, please visit www.knightfrank.com.sg.

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Local Property News
Rise in new private home sales volume

The number of new private homes sold last year have risen on the back of declining prices in the primary private home sales market. Fighting against predictions of a languishing private residential sector, new private home sales have held up in 2016 with 8,136 new units sold, 9.4 per cent higher than 2015's 7,440.
Buyers have been picking up units directly from developers, aided by a couple of pushes from low interest rates an and lower selling prices. Though 2016 was a slow year for Singapore's real estate industry in terms of home prices, the number of transactions clocked have surprisingly went against all odds. While private home prices have fallen over the past 3 years, market sentiments have begun to pick up last year and increased interest and availability of one- and two-bedroom units whose total quantum prices were more palatable for the general buying public and investors alike.
In Q4 of 2016, 2,480 new units were sold, the highest number in a quarter for the year. Despite the year end's usual market lull and only 90 new units launched in the last quarter, December's sales were positive with suburban projects leading the way with 231 sales, followed by 112 in the city fringes and 24 in the core central region. Last month's best seller was The Santorini in Tampines which sold 26 units at an average price of $1,046 psf.

Plans for 6,000 new HDB units along East Coast Park

The new private condominium, Seaside Residences, and her sea views may have competition yet from the public housing sector in the form of new Build-to-order (BTO) flats along East Coast Park.
The authorities are looking at building 6,000 new BTO flats in the Bayshore district. The last public housing flats to be built here were in the 1970s - the current ones in Marine Parade which are wildly popular in the resale market likely for its proximity to many schools and the city centre, the sea views and the many transport options and amenities offered by this mature estate. With the upcoming Thomson-East Coast Line, properties in the area may become even more in demand with property buyers and investors. Resale HDB flats in Marine Parade have been known to fetch up to $900,000 in recent months.
In a 60 hectare plot bounded by Bayshore Road, East Coast Parkway, Bedok camp and Upper East Coast road, the Urban Redevelopment Authority (URA) has called for master plan pitches for the Bayshore district which will also include land area put aside for 6,500 private homes. The authorities are looking at developing the area into a residential, car-lite district. There has been concerns raised about the influx of population which might put a strain on transport networks, amenities and the Changi General Hospital in Simei. The future 12,500 new homes may possibly change the idyllic atmosphere this area is specifically known for.

Office leasing market recovery expected in 2018

Photo credits: Paya Lebar Quarter
With predictions of prime office rents recovering in 2018, could this be the year to invest in commercial properties, in particular Grade A office spaces?
Despite fewer commercial spaces being released and slight holdbacks from tenants in the leasing market - office rents have fallen 20 per cent since 2015 - property analysts are still hopeful for a 3 per cent overall rental growth in prime Grade A office space, mostly in the Central Business District (CBD). The rebound in rental prices is expected to happen in the later half of 2018, with stabilisation possibly occurring even earlier.At the moment, average monthly rents of an office space in Marina Bay hovers around $9.05 psf, followed by $8.72 psf in Raffles Place, $8.42 psf at City Hall and $7.86 psf in ShentonWay and Tanjong Pagar. The weakening oil and gas sector has put pressure on businesses and affected market sentiments all round.
But with announcements of multi-national companies such as Facebook moving into the Marina Bay area and upcoming city fringe developments such as South Beach giving more traditional office districts a run for their money, 2017 could be the time to pick off potential units which may be affordable options when rents do rise come next year. The next wave of new office spaces which will enter the market is projected for 2020 and 2021.

Freehold site to yield potential landed homes in Orchard road
The Orchard road belt has not seen landed homes in its midst, or at least new ones, for quite sometime now. They are few and far in between and usually cost more than an arm and a leg. But a freehold residential site near Orchard road worth $72.8 million might potentially yield landed homes.
The One Tree Hill Gardens site measures at 39,063 sq ft and currently consist of 6 maisonettes and 7 apartment blocks or $1, 864 psf in asking price. The units here are of considerable sizes, ranging from 1,916 to 4,682 sq ft. Should the development succeed at a collective sale, each home owner could receive anything between $4 to $11 million. What the site could potentially yield are 13 detached and semi-detached houses.
Considering the prime district, the rarity of landed homes across the board and more so in the centre of town, and the lack of sizeable residential sites readily available for redevelopment, marketing agent Knight Frank is confident of the interest the site will garner. Recent sales of sites in Grange Road, Cuscaden Walk and Hullet Road have all drew considerable bids of $190.5 million in total.
The area surrounding the One Tree Hill Gardens site is in itself an exclusive enclave of high-end apartments and some landed homes. Add on its future proximity to the upcoming Orchard Boulevard MRT station along the Thomson-East Coast Line and up goes its value.

Global Property News
Prices of new homes in China rise once more

Property prices in many major China cities have been on a constant climb since 2011, and new home prices have once again risen last year, at its fastest rate no less.Warning signs of a property bubble has been looming for sometime now, and as there has been no signs of relief, the fear is that the market might reach bursting point quite soon. Real estate market speculation threatens to hurt rather than help the economy even as China's leaders fret over the country's economic target for the year.In over 70 cities across China, the average new home prices have risen 12.4 per cent. In top-tier cities such as Shenzhen and Shanghai, property prices have risen as much as 60 per cent in the span of a year. Some cities such as Beijing may have more leeway to cope with further market hikes, but in many cities, property markets are already languishing.
Out of 15 markets, 12 have shown signs of overheating as prices have began to fall. Growth is beginning to slow down as household loans and house sales have both been on the decline. The China government has implemented some cooling measures over the past year in attempts to slow down the growth of the bubble, the latest being limits placed on the number of new home loans banks are able to issue.

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With growth rate stabilised, residential real estate could bring economic benefits
SINGAPORE, 31 January 2017 - Singapore has averted a technical recession, posting 1.8 percent growth in gross domestic product (GDP) for the fourth quarter of 2016, and an overall growth of 1.8 percent for the year, according to recent estimates from the Ministry of Trade and Industry.
But with a subdued economic outlook both globally and in Singapore, as well as expectations of rising interest rates, house prices are under considerable pressure. Real estate consultant JLL says the residential property market is likely to remain stagnant with cooling measures still in place alongside slow economic growth.
Private home prices in Singapore softened further in the last quarter of 2016, for 13 consecutive quarters and reaching their lowest level in six years, as flash estimates from the Urban Redevelopment Authority (URA) showed at the beginning of January.
"Property prices are now at one of the most affordable levels on record," says Dr Chua Yang Liang, Head of Research, Southeast Asia, JLL. "This clearly shows the success of cooling measures such as Additional Buyer's Stamp Duty (ABSD) and the Total Debt Servicing Ratio (TDSR) introduced in 2011 and 2013 respectively. Now could be the right time to consider measures that allow the residential market to resume a course for moderate growth and thus avoid a sharper correction down the line."
Based on JLL estimates in a new report, luxury prime properties have corrected on average 18 percent, while mass market prices have softened about 10 percent. Prices for some residential projects, especially those in the prime districts, have corrected between 25 percent and 30 percent since the height of the market in 2011.
"Reducing or removing ABSD for Singaporeans and replacing it with a tax based on the investment period would be a sustainable way to revive demand, bring some activity back into the market and prevent prices falling further," says Dr Chua. "With TDSR in place, it is unlikely that removing ABSD will cause prices to run away. Taking a long-term view, this approach will align property prices with real income growth instead of keeping prices artificially low. If prices become too low relative to affordability, it becomes increasingly difficult to remove cooling measures as prices will rapidly rebound to open market levels."
According to the report, one of the consequences of the continued measures is that Singaporeans are looking overseas for property investment in countries such as Malaysia, Australia, Japan and the UK. Data from the Monetary Authority of Singapore (MAS) indicates the value of overseas property purchases by Singaporeans reached a high of over SGD$2 billion in 2013, although the value softened to SGD$0.4 billion in the first half of 2015.
"Maintaining Singapore's status as a global city through an open and investment-friendly environment, which includes encouraging investment in residential real estate while at the same time preventing foreign capital from pushing up prices to unaffordable levels, is a delicate balance," says Dr Chua. "But a thaw to certain elements of the cooling measures could be particularly beneficial for the property market."
Download our report "Health Check: Taking the temperature of Singapore's residential property market"here.
- END -

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $59.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
JLL has over 50 years of experience in Asia Pacific, with 34,000 employees operating in 92 offices in 16 countries across the region. The firm won 15 awards at the International Property Awards Asia Pacific in 2016 and was named number one real estate advisor in Asia at the 2015 Euromoney Real Estate Awards. www.ap.jll.com.

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The beautiful vein patterns of marble used to only be found on expensive floor tiles but recently, the natural stone pattern has been popping up all over the place! Here are some of our favourite finds that proudly showcase the beauty of marble.

Italo Dining Table $4998, from OM

Hirsch Marble Pendant Light$259, from Crate and Barrel

Eagle End Table $190, from Star Living

Maysa Vases $119 each, from Galanga Living

Marble Two-Tier Server $89.95, from CB2

Cassina 194 9 tables by Piero Lissoni from $2816, from Dream Interiors

Visit

for more inspiring home designs.

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Local Property News
Resale condominiums make a comeback

Treasure Crest
Do not underestimate the power of the trickle-down effect as older resale condominiums leverage on new launches to bring in activity and renewed interest.December's resale private home sales figures were case in point, in particular The Santorini in Tampines. The new launch of The Alps Residences resulted in a spillover of buyers' interest in surrounding condominiums and though the 597-unit The Santorini was launched more than 3 years back in 2014, it sold 106 units in 2016 alone, compared to only 32 units in 2015.
The overall sentiment is one of hope as buyers, now more driven to purchase and increasingly swayed by lower quantum prices, have been seen to be re-entering the market in the past months. Upcoming new townships such as Bidadari and the Jurong Lake district have been showing up more often on buyers' radars and interest in the latter is particularly telling especially as the area is flagged in the Government's development plan as the next central business district.
The 710-unit Lake Grande development in the Jurong Lake district has already sold 553 units and nearby, Sim Lian's Wandervale and Treasure Crest executive condominium (EC) projects have also sold 1,003 units. With the government holding back on the release of land sales, the resale condominium market may hopefully continue with its winning streak this year. Most of the sales developers received last year were from older developments launched before 2016, Commonwealth Towers, Coco Palms, Bellewoods and Bellewaters, just to name a few.

January 2017 - New HDB subletting rules kicks in

A new regulation in the subletting of HDB flats has kicked in, allowing non-Malaysian work permit holders from the manufacturing industry to only rent rooms and not entire HDB units. In force since the first of January this year, the rule may impact not only the workers, but also employers, companies and HDB flat owners who are leasing their units. The impact may be beneficial to some, and not so much to others as the government hopes that this move will push employers to provide better workers' living quarters and also move them to purpose-built dormitories where their needs can be catered to more efficiently.
An estimated 3.5 per cent of HDB households will be affected by the rule-change though those currently renting a unit are allowed to continue with their current living arrangements until their leases expire. This is not the first time a change was implemented in terms of the leasing of HDB flats. In 2006, the same rule was first implemented with regards to non-Malaysian work permit holders from the construction industry, and again in 2015 to the marine and process sectors. Malaysian work permit holders are still able to lease entire flats or rooms.
Service sector non-Malayisian work permit holders are however still allowed to sublet entire HDB flats and the government will continue to monitor the balance between landlords and sub-tenants closely in order to make further adjustments when and if required.

Positive 2017 outlook for retail and office property sector

Despite falling rents for retail and office spaces, analysts are hopeful for a positive performance from this market segment in 2017.
The last quarter of 2016 saw office rents falling 1.8 per cent, bringing last year's decline of rental prices to 8.2 per cent. Rents for retail spaces fell 1.2 per cent in Q4, bringing the total year's decline to 8.3 per cent. Surprisingly, despite a weakening economy and competition from e-commerce, the demand for retail spaces have picked up. Analysts put the easing of pressure on the retail property market to the development of many flagship stores, large food and beverage clusters and gyms. New retail brands and concepts entering the market meant there were tenants willing to take up larger floor areas in prime spots. That said, almost 169,000 sq metres of retail space will become available this year, and there may still be challenges ahead for this sector.
In the office property front, following announcements of major tenancy deals such as Facebook taking up prime office spaces in Marina One and similarly Distrii, a co-working operator, at Republic Plaza, the market is beginning to stabilise. New and massive working spaces will however add to the inventory soon, taking Duo Tower in Bugis as an example. It was completed last month and has pushed office vacancy rates to 11.1 per cent. Moving ahead, property players are expecting office rents to continue softening at least for the first half of the year, though newer buildings such as Guoco Tower and Marina One have enjoyed positive take-up rates last year.

Resale HDB flat market's continued stabilisation
For 2 consecutive years now, the sales volume of resale HDB flats have been on the rise. Since 2014, the number of transactions recorded for resale HDB flats have been increasing, from 17,318 in 2014 to 19,306 in 2015 and then 20,813 last year.Resale flat prices are showing signs of stabilisation, with only a 0.1 per cent fall in 2016 from the year before. Though last quarter's transaction figures fell 9.1 per cent, it could be due to the usual year-end lull as most were away for the school holidays. Akin to buyers' sentiments and reactions in the private property market, HDB flat buyers have also been increasingly keen on closing deals as prices have been falling steadily since 2013. Most consider the market currently nearing or at the bottom of the property cycle and are thus more confident or willing to make the purchase at what they consider lowest-possible prices.
Despite the government ramping up supply of new BTO (build-to-order) flats for young couples and families, even including singles in their bigger scheme of things by providing them the option to purchase 2-room units directly from HDB instead of previously restricting them to only units in the resale market, there are still those who will require a unit sooner rather than later or do not quite qualify for new flats. These buyers will be the ones who prop up the market, though with the current cooling measures still in place, prices are unlikely to rebound anytime soon.
Property analysts are however hopeful that the number of resale flats transacted this year will be closer to the 21,000 to 23,000 mark. Resale prices have fallen to a level at which young couple and families find attractive or affordable enough to commit. A large number of HDB flats and suburban condominiums will also reach completion this year, which could mean more HDB upgraders will be looking to sell their existing flat in the resale market. And as rents are expected to fall as well, for the same reasons, the most optimistic outlook could be a 1 to 2 per cent price increase by end 2017.

Global Property News
China's top-tier cities post continued growth

2016 has been quite the year for China's property sector. With property booms in top-tier cities such as Beijing, Shanghai and Shenzhen, overall investment in the country's real estate rose by 6.9% last year.
Since the property sector is one of China's main sources of economic growth, and her economy did grow by 6.7% last year, fuelling 40 other main business sectors in the country, economists, the China government would no doubt hope for continued success this year. But there have been concerns that the pressure on the property bubble is building up and might be reaching bursting point.
Despite the government's attempts to cool the market with rapid and frequent policy changes over the past couple of years, property investment growth has hit a 11.1 per cent high last December, up from the 5.7 per cent in the month before. Though home prices in some cities have began to fall slightly, analysts are seeing that market sentiments are hardly sensitive to policy shifts. Should the policies stick, any significant changes will only come with time. As most investors consider property-ownership the most feasible and desirable means of adding to their income, demand in top-tier cities remain high despite soft price growth.
Recent shifts on the international front however may mean continued growth in the real estate market within China as more investors look inward, what with the Trump administration turning things on its head with his trade agreements changes. It may be in the government's interest to acquire land revenue while keeping an eye on a burgeoning real estate sector which on the plus side will boost economic growth but may cause bigger issues later on if allowed to continue on its upward trajectory.

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Four community zones to enable flexible work-play environment and community gathering

SINGAPORE, 7 February 2017 - Frasers Centrepoint Singapore today launched Frasers Tower - a new office development that provides a flexible work environment to cater to the evolving needs of the workforce. Frasers Tower's four unique community zones, coupled with its own park and plenty of greenery will accommodate the working community's growing needs of work-life balance.

The show suite was unveiled today to showcase the workplace that will transform the way tenants work with its unique blend of workspace and nature. Located at 182 Cecil Street, Frasers Tower is expected to be completed in the second quarter of 2018. The development has a total net lettable area ("NLA") of approximately 663,000 square feet ("sq ft") and comprises a 38-storey Premium Grade-A office tower and an adjacent three-storey cascading retail podium featuring various food and beverage offerings. It is also the first commercial building to be nestled in a park of its own that connects to the Telok Ayer Park.

Commenting on the value proposition of Frasers Tower, Mr. Christopher Tang, Chief Executive Officer, Frasers Centrepoint Singapore, said,"Businesses will be attracted to the new landmark as it occupies the prime corridor between the core CBD and upcoming Greater Southern Waterfront development, with complementary retail and lifestyle offerings in the vibrant and dynamic precinct. The appeal of the development is also in its unique blend of workspace and nature designed to inspire a stimulating, innovative and functional work environment. With the reduced office supply in 2018 and beyond, we are confident that demand for Frasers Tower will grow."

Flexible Use of Space Seals First Lease

The developer also announced its first signed lease with leading serviced office provider The Executive Centre. The new tenant will occupy an entire floor spanning approximately 20,000 sq ft. In addition to The Executive Centre, companies from the financial, technology and media industries have shown keen interest to secure and relocate to Frasers Tower for its prime location and accessible work spaces.

"Frasers Tower is a prominent addition to our presence in Singapore and Southeast Asia. It is strategically located at the commercial gateway to the core CBD. We are extremely attracted by the flexible workspace and the close proximity to nature. The requirements for workspace is changing and people no longer just work at their desks. We appreciate the community zones and Wi-Fi connectivity across the entire building that will encourage stronger interaction and collaboration. The space is clearly designed with the users in mind and we see the potential of customising our space to meet our clients' demand for exclusive corporate and recreational spaces," said Yvonne Lim, Regional Director - Australia, Indonesia & Singapore, The Executive Centre.

The 235-metre tall office building will have floor plates of between 20,000 sq ft to 22,000 sq ft, which are of regular shape and free of interior columns, to give tenants the flexibility to customise their workspaces efficiently. The design of the building also addresses evolving working styles and preferences. For example, the inter-connecting floors promotes greater collaboration and connectivity while the open office areas provide a flexible and scalable workspace that can accommodate up to 300 persons per floor.

Community Zones to Foster Greater Tenant Collaboration

Frasers Tower is designed with a focus on building a vibrant work community. As more employers source for conducive and flexible working environments, Frasers Tower will offer its tenants open spaces in the community zones for their working, social or recreational needs. Various social and recreational activities will also be introduced to boost greater interaction and integration of the working community at Frasers Tower.

Unique to Frasers Tower are four community zones which are designed to promote greater community interaction and integration.

- The Sky: Tenants can enjoy tranquillity and panoramic views of the city as they converge at the roof garden to enjoy some downtime.

- The Terrace: Located on level 4, The Terrace will serve as a gathering point for the working community at Frasers Tower. Tenants can enjoy a communal breakout area that is ideal for social events, town hall sessions and creative thinking in an uplifting green environment. Tenants can also look forward to a game of foosball at the recreational area, or relax and take power naps at the resting pods.

- The Oasis: Located next to the office tower, the 22,000 sq ft retail podium space with roof garden offers a wide range of food and beverage options for the tenants at their doorstep.

- The Park: Unique to Frasers Tower is a park of its own which is linked to Telok Ayer Park. The lush greenery offers tenants a relaxing environment to take a breather away from work and to experience dining at the café/bistro located within the park.

Seamless and Multiple Connectivity

Frasers Tower is easily accessible via various modes of transport. The office lobby of Frasers Tower will be directly connected to Tanjong Pagar MRT station on the East-West line with a two-minute walk via an underground pedestrian walkway. It is also within walking distance to Telok Ayer MRT station on the Downtown Line and the future Shenton Way MRT station on the Thomson-East Coast line.

The building also caters to cyclists who ride to work. A secured bicycle parking facility with 90 lots and other end-of-trip facilities such as lockers and shower rooms will enable cyclists to enjoy a fuss-free transition from their workout to the start of their work day.

Smart and Sustainable Building

Conscious of the need to minimise environmental impact, the BCA Green Mark Platinum office building consists of several environmentally-friendly features. These include a double-glazed façade which provides more thermal comfort and three-metre high floor-to-ceiling glass windows which allow maximum daylight to shine through. The energy efficient light fittings are expected to achieve more than 30 per cent energy savings.

The attractive greenery at the community zones further lowers surface temperature of the building and mitigate urban heat. The 22 high-speed lifts serving office floors will also be equipped with energy-efficient features. To improve water efficiency, the building recycles rainwater to irrigate the building's flora and to run the water cooling system which is more energy efficient than air-cooled chillers. Additionally, sustainable recycled materials such as green cement, recycled concrete aggregates and washed copper slag are used for non-structural building components and construction.

Frasers Tower, which is jointly marketed by CBRE and Jones Lang Lasalle (JLL), is now available for viewing at the show suite by appointment. For more information on Frasers Tower, visitwww.FrasersTower.com.sg .

The Oasis

The Terrace

The Sky

The Park

* All photos are artists' impressions

END

FACT SHEET

Overview

Frasers Tower is an exclusive 38-storey Premium Grade A office development located along the prime corridor between the core CBD and upcoming Greater Southern Waterfront development.

The 235-metre tall office building features column-free and highly efficient rectilinear floor plates and consists of a vibrant retail podium, indoor and outdoor work areas and four unique community zones for tenants to connect and collaborate. The building's prime and prominent location provides businesses with access to the district's economic potentials, while its easy accessibility and close proximity to nearby amenities creates a convenient and inspiring environment for work and leisure. Designed to meet present and future business needs, Frasers Tower empowers businesses with flexible and secure spaces for them to upscale, downscale or relocate with ease.

For more information on Frasers Tower, visit www.FrasersTower.com.sg.

Project Details
Location	182 Cecil Street Singapore 069547
Total Site Area	81,841 sq ft
Permissible Gross Floor Area (GFA)	830,572 sq ft
Net Lettable Area (NLA)	Office Tower: 663,000 sq ft Retail: 22,000 sq ft
Estimated TOP	Q2 2018
Typical Floor Plate	Column-free floor plates of between 20,000 to 22,000 sq ft
Architect	DP Architects Pte Ltd
Master Builder	Hyundai Engineering & Construction Co.
No. of Tower (s)	1
No. of Storeys	38 Sky Garden: Level 39 Office: Level 5 to 38 The Terrace: Level 4 Retail: Podium Level 1 to Level 3 Carpark: Basements 1 to 3
No. of Office Floors	32 office floors Low Zone: Levels 5 - 14 Mid Zone: Level 15 - 29 High Zone: Levels 30 - 38
No. of Car Parks	282 lots (inclusive of 3 handicap lots) 7 loading / unloading lots 10 motorcycle lots
No. of Bicycle Lots	82 private lots 8 public lots
No. of Lifts	Low zone: 8 passenger lifts (24-person capacity) Mid zone: 8 passenger lifts (24-person capacity) High zone: 6 passenger lifts (24-person capacity) 2 Fire/Service lifts serving all office floor levels 2 Car Park lifts serving B3 to L4

Building features

Unique to Frasers Tower are four community zones which are designed to promote greater community interaction and integration. The four zones are:

- The Sky: Tenants can enjoy tranquillity and panoramic views of the city as they converge at the roof garden to enjoy some downtime.

- The Oasis: Located next to the office tower, the 22,000 sq ft retail podium space with roof garden offers a wide range of food and beverage options for the tenants at their doorstep.

Premium Grade A specifications

- Rectilinear floor plates with floor to ceiling height of 2.8m to 3m.
- Centre-core design with column-free space
- Efficient destination control lifts
- High-tech security system
- Integrated building management system
- Modern building design

Energy Efficiency Features

- BCA Green Mark Platinum Certification

- Double glazed façade - 25% better than Singapore baseline
- Energy efficient Air conditioning plant achieving 0.6 kW/RT
- Energy efficient light fittings achieving over 30% improvement in lighting power cost
- Energy efficient regenerative lifts and escalators

Water Efficiency Features

- Private meters linking to Integrated Building Management System for water usage monitoring and leak detection
- Utilisation of Singapore PUB's 'Excellent' fittings.
- Recycled water for irrigation and cooling towers
- Automatic water efficient Irrigation System with rain sensor
- Use of Cooling Tower Water Treatment System achieving seven or better cycles of concentration

Accessibility and Connectivity

- A 2-min walk via underground pedestrian walkway to Tanjong Pagar MRT station
- Within walking distance to Telok Ayer MRT station, Raffles Place MRT station and future Shenton Way station
- Within walking distance to Raffle Place, Marina Bay financial districts and upcoming Greater Southern Waterfront development
- Easy access to nearby facilities and amenities in the precinct

About Frasers Centrepoint Singapore

Frasers Centrepoint Singapore is the Singapore arm of SGX-listed Frasers Centrepoint Limited. Our properties are built, developed and managed through Frasers Centrepoint Homes, Frasers Centrepoint Malls, Frasers Centrepoint Commercial, as well as owned through SGX-listed Frasers Centrepoint Trust and Frasers Centrepoint Commercial Trust.

With a presence in Singapore since 1988, Frasers Centrepoint Singapore has deep local knowledge and a strong reputation for quality. The company currently oversees a portfolio of over 21,000 homes, 12 shopping malls, and 10 office properties in Singapore and Australia. SGX-listed Frasers Centrepoint Trust and Frasers Commercial Trust hold six of the malls and six of the office properties respectively.

About Frasers Centrepoint Limited

Frasers Centrepoint Limited ("FCL") is a full-fledged international real estate company and one of Singapore's top property companies with total assets of S$24 billion as at 30 September 2016. FCL has three strategic business units - Singapore, Australia and Hospitality, which focus on residential, commercial, retail and industrial properties in Singapore and Australia, and the hospitality business spanning more than 80 cities across Asia, Australia, Europe, and the Middle-East. FCL also has an International Business unit that focuses on the Group's investments in China, Southeast Asia, and the United Kingdom.

FCL is listed on the Main Board of the Singapore Exchange Securities Trading Limited ("SGX-ST"). FCL is also a sponsor and its subsidiaries are the managers of three REITs listed on the SGX-ST, Frasers Centrepoint Trust, Frasers Commercial Trust, and Frasers Logistics & Industrial Trust that are focused on retail properties, office and business space properties, and industrial properties respectively, as well as one stapled trust listed on the SGX-ST, Frasers Hospitality Trust (comprising Frasers Hospitality Real Estate Investment Trust and Frasers Hospitality Business Trust) that is focused on hospitality properties.

As a testament to its excellent service standards, best practices, and support of the environment, FCL is the proud recipient of numerous awards and accolades both locally and abroad.

For more information on FCL, please visitwww.fraserscentrepoint.com.

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A memorable beach vacation was the design inspiration for the owners of this 4-room HDB flat when they wanted to renovate their home. With the help of Urban Habitat's interior designer, the young couple incorporated ideas of the sun, sand and the sea into their home. The result: a fresh and relaxing space that makes staying home a veritable holiday.
Project Type4-room HDBFloor Area968 sqft
Text: Redzman Rahmat

Seaside StyleTo achieve the "beach house" look that the homeowners requested, designer Whelan Lau from Urban Habitat picked out colour and material palettes that suggest a casual beach vacation. His selection includes natural textures and colours like sea blue on the curtains, leafy green on certain walls and wood grains on the carpentry works.

Down To The Details"Another way that we managed to encourage a beach house vibe is by using wood laminates that are reminiscent of the planks you'd find by the beach," says Whelan. This particular laminate is used on feature walls throughout the home, including the ones in the living and dining areas. Whelan also points out the importance of the furniture and accessories. "We were very involved in the selection of furniture and decorative items. So things like the sconces and wall-mounted mirrors contribute to the easy, laidback vibe in this home."

Natural CookingIn keeping with the material palette of the rest of the home, the kitchen cabinets are all clad in wood grain laminates. The resulting look is more subdued compared to the other rooms, but works well in a functional space such as this. Whelan understood that the homeowners needed ample storage and he complied by customising rows of cabinets on both walls.

Into The BlueThe seaside vacation theme continues in the master bedroom, where baby blue walls evoke memories of clear skies and balmy beaches. As with all bedrooms, the main focus here is to create a restful space that the occupants will feel safe and comfortable in. As such, the Urban Habitat team kept the design simple, focusing instead on accessorising the room with box crates and mounted wall mirrors.

Zesty FlavourIn order to make the home look larger, the wall of this spare bedroom has been replaced with a clear glass panel. Not only does the living room appear bigger, this study room enjoys the benefits of having a clear line of sight to the television set outside. Also of note is the lime green hue on the wall and on accent parts of the carpentry. "We only used natural tones in this home," Whelan emphasises, "so I used colours like green and blue to keep the interiors feeling fresh and fun."
"We only used natural tones in this home, so I used colours like green and blue to keep the interiors feeling fresh and fun."

Design by Urban Habitat

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for more inspiring home designs.

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IMMERSE IN HOLISTIC WELLNESS AT GRANDEUR PARK RESIDENCES, THE PINNACLE OF LUXE WELLNESS LIVING
• Featuring 90 breathtaking facilities inspired by the concept of "Body, Mind and Soul" including luxury wellness facilities such as Himalayan Salt Room and Ice Therapy Corner• Exclusive Grandeur Kids' Club specially created for children to have fun outdoors and to develop their social skills• Exclusive Grandeur Club membership that offers complimentary fitness and lifestyle classes• Unique gym concept - "dry" and "wet" gyms, three-generational (3G) family gym and Omnia multi-station gym equipment ideal for small group exercise and users of all fitness levels and abilities

CEL Development's latest residential project at Tanah Merah embraces "Body, Mind and Soul" concept
SINGAPORE, February 9, 2017 - The East is set to welcome a new condominium when Grandeur Park Residences is officially launched in three weeks' time. The 720-unit residential project by CEL Development Pte Ltd ( "CEL Development" or the "Developer"), the property development division of Chip Eng Seng Corporation Ltd., aims to please the property market with a project centered on luxe wellness living.
Grandeur Park Residences enjoys a prime location, which translates to easy connectivity for residents. Besides being one minute's walk via covered linkway from Tanah Merah MRT Station, the project is also near reputable educational institutions, shopping and entertainment facilities. Being able to live near the workplace is also another draw - Changi Business Park is only one MRT stop away, while the Pan-Island Expressway ("PIE") and East Coast Parkway ("ECP") are a five minutes' drive away. Changi Airport is situated just two MRT stops away, bringing greater convenience to the frequent travelers. The on-site childcare centre is also a boon for young and dual-incomed families.
Nestled within a private residential enclave in Tanah Merah, the project sits on a generous 24,394 sq m (square metres) plot of land, providing residents with spacious living amid a tranquil setting. The project embraces the theme of rejuvenating the "Body, Mind and Soul", a concept that runs deep in the design of the property and is fully encapsulated by the 90 facilities offered by Grandeur Park Residences.
Mr Raymond Chia, Executive Chairman and Group Chief Executive Officer, Chip Eng Seng Corporation, said: "Residents of Grandeur Park Residences will not only enjoy the condominium's exclusive and comprehensive facilities, they will get to enjoy the tranquility of the area as well as the close proximity to key locations. The concept of Body, Mind and Soul transcends the entire design of the project and fully encapsulates the true meaning of luxe wellness living. In line with this and as part of the exclusive Grandeur Club membership, residents will be treated to a year's worth of complimentary fitness and lifestyle classes and activities."
"The blocks are also strategically located towards the periphery of the site, creating a large central landscape space where residents can immerse themselves within a holistic wellness environment. We set out to create a residence with luxurious environs akin to wellness resorts, and a sanctuary where residents can enjoy the better things in life."
Body: Stay fit

Grandeur Park Residences offers an array of fitness facilities that meet all workout needs, featuring both "dry" and "wet" gym facilities. In addition to fitness equipment such as treadmills, cycles and weights machines, the 3G (three-generational) family gym also include state-of-the-art equipment that cater to seniors and the younger age users. This provides an excellent platform for family bonding, allowing family members to have a workout together and encourage each other in their journey to a healthy lifestyle. In addition there is also a fitness studio that provides the space at the comfort and convenience within the home compound for conducting group fitness classes such as Yoga, Zumba and Pilates.
Outdoor options also abound for the health-conscious. The Omnia Fitness Pavilion comes with a multi-station fitness training system for functional and high intensity interval training, all set against the backdrop of a natural environment. Grandeur Park Residences is one of the few condominiums that feature the Omnia equipment, which is usually available in commercial gyms. The "wet" gym includes an aqua gym and aqua-aerobic pool - the perfect complement to "dry" workouts.
After their workouts, residents can treat themselves to a shaved ice rub-down and the unique Himalayan salt therapy for muscle recovery and rejuvenation.

Mind: Wellness facilities at your doorstep

Grandeur Park Residences offers myriad wellness facilities that are created to mirror a luxury resort, and to transport residents into a journey of relaxation.
Indulge in the therapeutic properties of water at the Sensory Spa Jet, which features adjustable water pressure choreographed with ambient lighting, before following up with a shaved ice rub-down at the Ice Therapy Corner.
What really sets Grandeur Park Residences apart is the innovative and unique Himalayan Salt Room. Made with salt bricks obtained from a mineral mine 800 metres below sea level, the room is filled with evaporated minerals which carry anti-bacterial and anti-inflammatory properties. The ions released by the gently-heated salt walls promise to calm senses and relax minds.

Soul: Strengthen family bonds and friendships

As residents journey up the winding steps through lush greenery to the Thematic Oriental and Western Hilltop Dining Pavilions, they will be greeted by picturesque views. Perched atop a hill, the pavilions provide a unique ambience akin to a resort getaway. The ambience of such an elevated setting conveys a sense of exclusivity that is conducive for residents to bond over food with family and friends.
For those who prefer staying indoors, the comprehensive Clubhouse features a Jamming Studio, a Games Room and a Theatrette, catering to varied lifestyle needs and preferences of residents.

Relish the array of benefits with the exclusive Grandeur Club membership
Residents at Grandeur Park Residences will be entitled to join the exclusive Grandeur Club membership. With the membership, residents will get to enjoy a year's worth of complimentary classes and activities. CEL Development has collaborated with Amore Fitness to organise fitness classes ranging from exhilarating Zumba classes, to core- crunching Pilates sessions.
Designed for total convenience, the one-stop concierge service (fee-based service) offered by the residence as part of the exclusive Grandeur Club membership includes a wide array of curated services ranging from home cleaning, handy man services, laundry to pet grooming services and more. The Parcel Self-Collection Station facilitates the easy collection of parcels, allowing residents to do their online shopping with a peace of mind. Residents are also able to book facilities and send requests to the condominium's management team via a mobile app.

The Grandeur Kids' Club provides children with access to a miniature clubhouse that is equipped with a kids' gym, kids' water play, kids' pool and kids' alfresco dining facilities. The children will surely be enthralled by the 70-metre adventure zone, an outdoor playground which will ignite their imagination. Besides catering to the development of their motor skills through sporting lessons such as tennis and swimming, the Grandeur Kids' Club also offers complimentary guitar and violin lessons. The music lessons will be conducted by Mandeville Conservatory of Music, within the development.

Leveraging technology to create a smart homeThe smart home system comprises the portable wireless Smart Home Gateway that empowers residents with the flexibility to control and automate their home according to their lifestyle needs. In addition, all main doors of residential units are equipped with state-of-the-art Yale biometric digital lock sets which can be remotely controlled via mobile devices. All units also come complete with motion detector cameras for added security and surveillance of loved ones.

Living luxuriouslyIn line with our commitment to produce quality developments, residents can look forward to stylish fittings and quality finishes for their homes. Grandeur Park Residences features kitchens that are equipped with quality appliances from Smeg. The bathrooms are also fitted with deluxe sanitary appliances from Hansgrohe and sanitary wares from Roca.

Enjoy an experiential journey at the showflatsTo fully capture the essence of Grandeur Park Residences, CEL Development has taken an innovative approach to walk visitors through the showflats. Visitors are taken through an immersive and experiential journey which will enable them to have a first-hand encounter with key facilities categorised according to the "Body, Mind and Soul" concept. The journey is designed to appeal to the senses of visitors, through the use of 3D visualisation technology and interactive displays, as well as allowing visitors to try out some of the gym equipment that will be available at Grandeur Park Residences.

Indicative PricingWith a wide selection of unit types from 1-to-5 bedroom units, Grandeur Park Residences is ideal for investors and families, large and small. The premium 5-bedroom units come with a private lift and dry kitchen counter, which are suitable for multi-generational families who want to enjoy the luxurious lifestyle. Indicative prices of units at Grandeur Park Residences are set to start from S$5xxk.
Starting indicative prices of units that will be released at the upcoming VIP Preview on February 17, 2017 follow:
1-bedroom - from S$5xxk2-bedroom - from S$7xxk3-bedroom - from S$1.0xxm4-bedroom & 5-bedroom - from S$1.4xxmShops - around S$3,500 psfThe showflats will be opened to the public from February 18, 2017.
-END-

About CEL Development CEL is a wholly-owned subsidiary of Chip Eng Seng Corporation Ltd, a public listed company in Singapore since 1999.
Spearheading the Group's portfolio in property development and investments, CEL has over the years established itself as one of the industry's fastest rising names. With development projects and investment interests in Singapore, Vietnam, Australia and The Maldives, CEL Development Pte Ltd has established impressive growth in recent years.Being a dynamic organisation, we have built our success on the foundations of solid ethical practices and quality standards supported by our vast expertise in the areas of construction, property development and property investment.
With a strong synthesis of youth and experience in our ranks, we are able to leverage on these expertise as a Group to continually push benchmarks in construction and quality, much akin to our corporate vision.
CEL's vision: "To be a leading multi-discipline property development company of choice, one that is synonymous with creating quality homes with outstanding build quality and investment value, thereby creating sustainable value to its shareholders and customers and being a socially responsible corporate organisation." Coupled with our valued standard practices and dynamic approach, we aim to scale greater heights in the coming years and strive to deliver our promise of quality homes for today and tomorrow.

Fact Sheet

Developer:	CEL-Changi Pte. Ltd
Project Name:	Grandeur Park Residences
Address:	New Upper Changi Road/ Bedok South Avenue 3
Description:	As implied in its name, the design concept of Grandeur Park Residences revolves around the notion of elegance and splendor in which the entire journey through the development is focused in providing residents the experience of luxury. This development sets itself apart from the rest through its emphasis on the elements of health of the "Body, Mind and Soul"; which are manifested through the types of facilities incorporated into the landscape. The tower blocks are strategically located towards the periphery of the site in order to create a large central landscape space which residents can enjoy with a sense of belonging, akin to the identity of a premium club member.
Site Area:	24,394.00 sqm
Land Tenure:	99 years starting from May 25, 2016
Total Number of Units:	720 apartment units, 2 commercial units
Expected Date of Vacant Possession:	March 31, 2021
Expected Date of Legal Completion:	March 31, 2024
Breakdown of Units & Sizes:	1 BR - 39 sqm* 1 BR + Study - 42 sqm - 44 sqm* 2-BR Classic - 51 sqm - 54 sqm* 2-BR Deluxe - 55 sqm - 58 sqm* 2 BR + Study - 62 sqm* 3-BR Classic - 82 sqm - 83 sqm* 3-BR Deluxe - 90 sqm - 91 sqm* 4-BR Classic - 105 sqm* 4-BR Deluxe - 115 sqm* 4-BR Deluxe Premium - 115 sqm - 117sqm* 4-BR (Private Lift) - 117 sqm - 118 sqm* 5-BR (Private Lift) - 135 sqm* *Unit sizes are for typical units only and exclude PH.
Facilities:	BODY 1. 50m Infinity Pool 2. Aqua-aerobic Pool 3. Aqua Reflexology 4. Aqua Gymnasium 5. Omnia Fitness Pavilion 6. Outdoor Gym 7. Warm Up Lawn 8. Foot Reflexology Path 9. Family Gymnasium (2^nd Level) 10. Fitness Studio 11. Jogging Trail 12. Forest Fitness Corner 13. Tennis Court MIND 14. Water Bay 15. Outdoor Jacuzzi 16. Water Bed 17. Day Bed Grove 18. Ripple Bay 19. Sensory Spa Jet 20. Sunning Deck 21. Meditation deck 22. Yoga Deck 23. Laundrette 24. Himalayan Salt Room 25. Changing Room 26. Steam Room 27. Ice Therapy Corner 28. Concierge 29. Hillside Spa 30. Waterfall Spa 31. Bubbling Reflective Pool 32. Chillout Cabana 33. Floating Cabana 34. Reading Cabana 35. Canopy Walk 36. Sky Terrace 37. Side Gate (Covered Linkway to MRT) 38. Bicycle DIY Space 39. Childcare Centre 40. Parcel Collection Station 41. Management Office SOUL 42. Entree clubhouse 43. Poolside Lawn 44. Lookout Deck 45. Water Courtyard 46. Chillout Lawn 47. Family Deck 48. Courtyard Deck 49. Party Deck 50. Waterfall Terrace 51. Party Lawn 52. Multi-purpose Room 53. Function Room 54. Theatrette 55. Games Room 56. Jamming Studio 57. Chillout Deck (2^nd Level) 58. Ecopond 59. Forest Deck 60. Spice Garden 61. Hammock Garden 62. The Valley Lobby 63. Fireflies Forest 64. Heliconia Garden 65. Mist Garden 66. Fern Garden 67. Hillside Greenery 68. Flower Terrace 69. Hillside Lobby 70. Oriental Hilltop Dining Pavilion 71. Western Hilltop Dining Pavilion 72. Gourmet BBQ Pavilion 73. Gastronomia BBQ Pavilion 74. Gourmet BBQ Pit 75. Gastronomia BBQ Pit 76. Picnic Lawn 77. Lily Pond 78. Chess Garden 79. Maze Garden 80. Forest Courtyard 81. Grand Arrival Lobby 82. Serenity Alcove KIDS' CLUB 83. Kid's Pool 84. Kid's Alfresco 85. Kid's Club 86. Kid's Gym 87. Kid's Water Play 88. Grassland Adventure Zone 89. Forest Adventure Zone 90. Flower Field Adventure Zone

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Local Property News
Demand for well-located properties remain high

Properties near MRT stations often bring in the buying crowds. And there will be 2 such properties to look forward to in the first half of 2017.
The first is the 720-unit Grandeur Park Residences which is expected to launch in March, near the Tanah Merah MRT station. It's proximity to transport, the inclusion of a childcare centre and 2 shop units is expected to add value to project. 1- to 5-bedroom units here will range between 420 sq ft and 1,450 sq ft in size. And if prices at the neighbouring The Glades are anything to go by, the units at Grandeur Park Residences may be priced between $1,300 to $1,400 psft.
Situated near East Coast Park and the upcoming Siglap MRT station, is the 843-unit Seascape Residences. With sea views and as one of the first private condominium projects to come up in the area in the last decade and a half, this new project along the coastline may make quite the splash on its launch. Prices are expected to hover between $1,550 to $1,650 psf.
Despite a weak economy and the property cooling measures, demand for new homes remain resilient and while buyers may be more selective with their purchases, properties which are well-located and offer competitive pricing will still sell. Interest rates remain a uncertain factor impacting market sentiments however, as sudden spikes may affect demand.
Launches of new projects can often boost sales of new homes across the board and this first quarter could very well already set the tone for the rest of the year.

New property launches to welcome by April 2017

Come the fourth month of the year, and the property market will be seeing as many as four new property launches spicing up the mix. Sentiments have been looking up of late as more buyers are coming to terms with the market reaching the bottom of the cycle, and these new launches may welcome increased interest from buyers. Property analysts are expecting up to 9,000 new home sales this year.
The 4 new upcoming launches buyers can look forward to are:• Park Place Residences in at Paya Lebar Quarter (PLQ)• Grandeur Park Residences in Tanah Merah• Clement Canopy in Clementi• Seaside Residences in Siglap
The first project expected to launch as soon as next month is the 505-unit Clementi Canopy. Though recent trend has shown smaller units as being more popular with buyers, this development will feature mainly 2-bedders to 4-bedders sized between 635 sq ft to 1,500 sq ft, with the former making up almost a third of the units.
One of the more exciting projects from the list above is Park Place Residences at PLQ. It is Lendlease's first residential project in Singapore and the rejuvenation plans for Paya Lebar, to build an integrated development in Paya Lebar Central, may be the nectar that attracts buyers. The project is directly linked to the Paya Lebar MRT station and will also include residential units with a range of 1- to 3-bedroom apartment units, 3 office towers and a retail mall with more than 200 stores. Successes of previous launches and sales of similar projects such as NorthPark Residences and The Poiz Residences are signs of assurance for the developers that take-up rate will be positive.

Consumer confidence in property market improving

Though gradual, the property market seems to be coming out of a long hibernation and there are some bright sparks to make 2017 a warm one.
The supply and inventory stock is gradually diminishing, by 8.4 per cent at the end of last year, aided by the restriction in land supply by the government last year, the key word being gradual. Fortunately, the decline in home and rental prices have also been gradual, with no sudden collapse. Last year's rate of decline of overall private home prices was at a 3-year low, at 3.1 per cent. The 2 years before saw a 3.7 and 4 per cent decline, counting backwards.
By now, consumers and investors are used to the price decline, which has been a regular occurrence since 2013 when the property cooling measures began to kick in. In the current market, any news of slower price declines will be good news, and of stabilisation, even better news. Private home prices have finally landed on a level where an increasing number of buyers find affordable and investment-worthy, which explains the boost in new home sales from 7,440 in 2015 to 7,972 last year.
Properties in the core-central region fared the best in the second half of 2016, while non-landed homes in the city fringe and suburbs registered 2 and 0.6 per cent drops respectively. Landed properties fared unexpectedly well with a 0.8 per cent price increase in Q4. Property analysts are expecting property prices to bottom out this year, which could the year when the property market bottoms out. The authorities do not yet seem to show any signs of easing the property cooling measures, at least not in the first half of the year.

Luxury market makes for a suitable investment playground

Photo credits: The Nassim
Recent news of veteran banker and one of Singapore's richest men, Wee Cho Yaw's latest property purchase of 45-units at the luxury property, The Nassim for $411.6 million, may have reignited interest from potential buyers of high-end luxury apartment units.
Although property prices have fallen last year, the rate of decline has slowed and the luxury market has fared considerably better than the other property segment. Prices of high-end properties in prime districts, particularly in the Central Business District, Orchard road and Tanglin areas, have fallen 1.2 per cent last year. But the fall is still lesser than the 2.8 and 3.4 per cent in the city fringe and suburbs respectively. This segment also clocked more transactions last year, an increase of 48.7 per cent from 201Property analysts are confident that the luxury market will find its footing more firmly this year as the supply of high-end properties will increase in the next few years. Though rents have fallen, those who have the holding power will come out tops in the long run, when the property cooling measures are relaxed. Most sellers put a 15 to 20 per cent premium on the value of freehold properties. Property auctions and en bloc sales could be activities to watch this year, especially for those with cash to spare and the financial endurance to last through at least the next few years.5. Home sales in the city fringe and suburbs rose by 27.2 and 3.7 per cent.

Global Property News
China clamping down on investment outflow

The Chinese have been known to be big spenders in many real estate markets worldwide, thus the recent clamping down on investment outflow by the Chinese government has markets all over the globe in a little bit of a tizzy as Chinese buyers are now finding it increasingly more difficult to transfer funds out of China in payment for the properties they have previously purchased. In an announcement on Dec 31, the State Administration of Foreign Exchange (Safe) stated that all buyers of foreign exchange must now sign a pledge to not use their US$50,000 quota for offer shore property investment.
This may put a crimp in things as many real estate markets may find themselves missing out on this potentially huge audience pool as Chinese buyers are now shying away from foreign investments due to the difficulties involved in trying to bring their monies offshore. While the move may not deter the major buyers, first-time buyers with a lack of offshore assets and expertise in capital-manuvering may be forced to relinquish their offshore real estate purchases despite having already made deposits of previous scheduled payments.
Those who violate the new ruling may be denied access to foreign currency for up to 3 years, be added to a government watch list and may be investigated for money-laundering. The regulation also applies to companies with corporate outflows, requiring them to provide clear documentation with regards to outbound monies. The use of foreign currency for real estate has always been banned, but the authorities are serious this time, as seen in their request for additional documentation.

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More than 55 per cent TG Development's The Peak @ Cairnhill II sold during its launch in January 2017.
Singapore, 13 February 2017 - TG Development Pte Ltd ("TG Development"), has sold 34 out of 60 units at The Peak @ Cairnhill II during its launch in January 2017. This bring its total take-up rate to date to more than 55 per cent. The units were sold on an average price of S$2,700 per sq ft.
"The luxury marketing is indeed showing signs of improvement in 2017. We are heartened by the good take up rates of our development as reflected by the 34 units sold to date," said Ong Boon Chuan, Managing Director of TG Development.
Indeed, the Urban Redevelopment Authority's (URA) third and fourth quarter of 2016 data showed that similar high-end developments such as OUE Twin Peaks and Gramercy Park registered good take-up rates. According to caveats lodged on the URA's Realis system, 55 and 8 units at OUE Twin Peaks and Gramercy Park respectively were sold in the fourth quarter of 2016. For the whole of 2016, 237 and 44 units were sold at OUE Twin Peaks and Gramercy Park respectively.
Additionally, 647 condominium units were sold in the prime districts of Sentosa Cove, Orchard Road, Newton and Bukit Timah for the whole of 2016. This is the only area that saw prices for non-landed private homes increasing by 0.1 per cent in the same quarter.
"This shows quality developments such as ours can still move amid the challenging property market in Singapore. Buoyed by market confidence, we felt this was opportune time to launch The Peak @ Cairnhill II and our results speak for themselves," said Ong.
Located on the exclusive enclave of Cairnhill Circle, this luxurious development is located within the vibrant retail enclave of Orchard Road, Singapore's premiere shopping belt and tourism destination.
The Peak @ Cairnhill II comprises 58 two-bedroom and two-bedroom penthouse units. Of the 58 units, 28 units measure 904 sq ft while another 28 units measure 829 sq ft. Meanwhile, the two-bedroom penthouse units are generously sized at 1,884 sq ft and 1,864 sq ft respectively.
"Our good take up rates was due to the Enhanced Deferred Payment Scheme. In fact, most of the units were sold through this scheme." said Ong. Under the Enhanced Deferred Payment Scheme, buyers will only need to pay a 20 per cent option fee. They also will be given a two year period to exercise the option-to-purchase. In the meantime, they sign a master tenancy agreement with the developer which allows them to rent out the unit and get rental income.
The developer is currently offering a 12 per cent discount and absorbing two years of maintenance fees as well as property tax for buyers.

Editor's note:Singapore's property market analysis and trends
Singapore's property market had faced a challenging year in 2016 due to a number of government cooling measures such as the Additional Buyers' Stamp Duty (ABSD), Sellers' Stamp Duty (SSD) and Total Debt Service Ratio (TDSR). These measures had resulted in a further decline of 0.5 per cent in the private property index (PPI) from 137.9 points in the third quarter to 137.2 points in the fourth quarter. This is less than the 3.7 per cent decline recorded in 2015. Transactions also increased by 9.4 per cent with 8,136 units sold in 2016 compared to the 7,440 unit recorded in 2015.
Interestingly, the prices for non-landed private properties located in prime areas (CCR) was the only one showing an uptrend. They increased by 0.1 per cent in the fourth quarter signalling a renewed interest in high-end properties. Meanwhile, those in the Rest of Central Region (RCR) and Outside Central Region (OCR) decreased by 2.0 per cent and 0.6 per cent respectively.
Additionally, URA's data also showed that developers launched 2,944 uncompleted units (excluding executive condominiums) in the fourth quarter of 2016 more than the 1,609 units in the previous quarter. There were also more units sold in the fourth quarter at 2,316 units compared to the 1,981 units sold in the previous quarter.
For the whole of 2016, developers launched 7,877 units. This was around 800 units more than the 7,056 units launched in 2015. Developers also sold 7,972 units in 2016. This was much higher than the 7,440 units sold in 2015.
"Collectively, these data showed that the private property market is making a signifiant recovery," said Ong.

Freehold properties did well versus leasehold
Additionally, caveats captured on URA's Realis system showed that of the 699 resale units sold for the entire 2016, 694 of the units sold were freehold properties. This represents some 99.3 per cent of the market share.
"URA's finding is not surprising as freehold developments are extremely scarce and very much sought after in Singapore. Astute investors will be pleased to know that our development The Peak @ Cairnhill II is a freehold property sitting on a prime piece of land on Orchard Road," said Ong.

More foreigners buying private properties
2016 also saw a significant rise of foreign investors as a number of them saw it as a good time to pick up prime properties.
Figures from Jones Lang Lasalle (JLL) during the first nine months of 2016 showed there was an 11.7 per cent increase in foreign investors (not including permanent residents) compared to the same period last year. In all, they accounted for some 782 transactions as of November 2016.
Additionally, data from the URA showed that Chinese investors made up the major buyers followed by Indonesians, Malaysians and Americans.
JLL's data also showed that Malaysians and Indonesians preferred buying properties in prime areas with 40 percent and 68 per cent of their property purchases respectively located in the prime districts.
"The Peak @ Cairnhill II has been designed with such discerning foreign buyers in mind. This presents the perfect opportunity for them to invest in prime properties. For example, it features spacious master bedrooms, a private lift for every unit. Meanwhile, the overall architecture and interior design have been well thought of with well-lit and well ventilated living spaces," said Ong.

About The Peak @ Cairnhill II
The Peak @ Cairnhill II is a freehold 18-storey luxurious development by TG Development comprising 60 exquisitely designed units.
Located within the prime Orchard Road district, The Peak @ Cairnhill II is just a stone throw's away from Singapore's vibrant shopping enclave which is home to a number of high-end boutiques and malls such as Paragon, ION Orchard and Mandarin Gallery.
The Peak @ Cairnhill II enjoys easy access to the rest of the island via Orchard and Somerset MRT stations. The former will serve as an interchange station to the Thomson-East Coast Line by 2021. For those driving, the development is easily accessible via the Central Expressway (CTE).

About TG Development
TG Development was incorporated in 1987 and is headquartered in Singapore. Helmed by its Managing Director, Ong Boon Chuan, TG Development has gone from strength-to-strength backed by a panel of renowned architects.
The developer has a strong track record in designing bespoke residential developments to suit the metropolitan lifestyle of the most discerning buyers. Its projects include The Oliv, SkyPark @ Somerset, Lloyd SixtyFive as well as exclusive bungalows on Sentosa Cove.
The Oliv and SkyPark @ Somerset, in particular, have won a number of industry-related awards.
They include the following:
The Oliv President Design Award - 2015 SIA Building of the Year - 2014 MIPIM Awards Best Residential - 2014 Skypark @ SomersetSIA Award - 2011
For more information, please visit www.tgdevelopment.com.sg

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With interest rates potentially on the rise, you may wish to review your property loan portfolio. Today, I want to share and shed some light into certain misbeliefs we may have for our home loans. This would hopefully help all of us make better, smarter, easier decisions for our property financing and refinancing.
1. The more I loan, the more I pay!If you are into investing, you may have heard of the mantra, 'cash is king'. What does that mean? The more you loan, the more cash you have! And the closer you are to becoming a king (well, at least in the investment world). Here's the thing: A home purchase, one of the biggest in our lifetime, is by no means trivial. By taking up a loan, you free up truckloads of cash (literally). At 1+% interest under the current economic climate, home loan interest rates are easily lower than most investment returns. Take for instance the Singapore Stock Market, which yields 8.4% on average over the past 10 years. This is almost 8 times the home loan interest rate!
2. HDB mortgage interest rate is always at 2.6% I hate to burst your bubble, but the common saying "change is the only constant" also applies to the 2.6% interest rate of HDB loan. HDB loan interest is derived based on the prevailing CPF ordinary account(OA) interest rate, plus a margin of 0.1%.So this means HDB interest rate may vary based on the market situation. Case in point, in 1st half of year 1999, CPF OA interest rate went up to 4.41%. Consequently, the HDB loan interest rate was almost twice as much as it is now. It is important to understand the risks involved when going into any type of loan and be prepared for the potential fluctuations, both mentally and financially.
3. I should take a shorter loan tenor & pay lesser interest/pay down faster!Let's begin by illustrating a simple example of the additional interest payable across 2 different loan tenors for a same loan amount, at the same interest rate. Loan Amount: $500,000Interest Rate: 1.5% p.a.Loan Tenor A: 25 YearsLoan Tenor B: 15 Years

1.5% Interest $500,000 Loan	Monthly Instalment	3 Years	5 Years	10 Years	15 Years
Loan Tenor: 25 Years	$2,000	$21,400	$34,400	$62,100	$82,700
Loan Tenor: 15 Years	$3100	$20,500	$31,900	$51,800	$58,700
Difference		$900	$2500	$10,300	$24,000

As can be seen from the simple table above, you would only pay an additional of $900 at the end of the 3rdyear if you opt for a 25-year loan tenure. At the end of 5 years, it is $2,500 more, and even at the 10-year mark, the additional interest annually is only $1,000, which is 0.2% of the total loan amount.
By saving this small amount, you'd have to fork out $1,100 more per month, and $13,200 per year if you were to opt for a shorter loan tenor. Unless you are very confident about your career/business prospects and income profile, this additional $1,100 per month may be a strain on your cash flow.
Bear in mind how financial institutions operate. When you are doing well, everyone is eager to lend you more money (even though you don't need it). During bad times, they flee faster than a fat kid chasing an ice cream truck. Your mom didn't lie to you about saving for the rainy day.
What if you strike toto or 4D ? Fret not. Instead of taking the risky short loan tenor, you can always review your loan portfolio every 2 to 3 years and make a lump sum payment if its within your means.
4. I should/should not use my CPF monies for my home loan!If you find yourself thinking about using CPF to pay off your home loan, think about the following questions:
1. Do I have spare cash?2. Can that cash generate better returns?
The amount in your CPF Ordinary Account (OA) earns a risk-free interest rate of 2.5% p.a. Ask yourself: what other investment products can promise you the same rates (or more) with absolutely no risk? (keyword: no risk) Case in point. DBS's savings account interest rate is 0.05% for the first $250k.
If you can't think of anything else, then of course the sensible decision would be to pay up your home loans using cash on hand.
Additionally, the 2.5% interest-generating balance can and will definitely help to tide you through times of need. Be it for a change of job, when dealing with unforeseen medical emergencies or when you simply need to take a break from work, your CPF can take care of your home loans, assuming you have sufficient balance in your account to do so. Again, the rainy day! Especially with the economic situation now.
5. I love my bank and my bank loves me!We understand that your bank may treat you well today, but let's face it: the market is highly competitive, for home loans at least. You would of course want the best for yourself, but don't forget that at the end of the day, the banks would want the best for themselves too.
The truth is that there is never going to be a single financing institution that will forever offer you the best financing/refinancing packages. Do yourself a favour and do some research. This is to ensure that your bank isn't short changing you of the best terms available, as compared to their competitors.
Here's another pro tip:Apart from your home loans, you may also want to reconsider keeping all your banking relationships with just one bank. (Hint: remember the term, "don't put all your eggs in one basket"?)
The innocent looking "All Monies Guarantee", a clause found in most loan contracts, gives the bank the right to take the money from your cash and deposits, liquidate your investments, etc. for immediate repayments should you default on your loans. It goes without saying that you are definitely risking it all by parking all banking relationships with one institution.
6. I Risk Losing My Property if I Re-Mortgage It Again!!This is slightly more relevant for private property owners.By the time you read this, the idea of having to re-mortgage, cash out, or apply for an equity term loan for your property shouldn't be a taboo. This is especially so if you have fully paid off your property, or are almost getting there.
While it may be comfortable for you to have that peace of mind, think of the opportunities you are missing out on by sitting on a non-performing asset. When you cash out on your property, especially when there is increase in value (and when home loan interest rates are still low), the value of cashing out becomes evident when you have other forms of debts to deal with. Take for example:

Interest Rates	SCB	OCBC	UOB	Maybank	DBS	ANZ	Citi
Home Loan	1.27%	1.52%	1.50%	1.48%	1.60%	1.60%	1.42%
Car Loan	2.68%	2.78%	2.78%	2.78%
Personal Loan	8.38%				5.88%	7.80%	4.55%

By the above table, you would be able to conclude that the borrowing cost with a home loan is at a fraction of the rates charged by car loans and personal loans. Home loans, unlike other loans, also go through the amortization schedule instead of a flat interest rate. You can even enjoy a longer loan tenor of up to age 75, or a maximum of 35 years, whichever is lower. No doubt, this would help to ease your cash flow.Cashing out as a means of effective leveraging
For those of us with a bigger risk appetite, cashing out allows us to jump at business or investment opportunities. Take for example the property investors who made a fortune out of the 2008-2011 global financial crisis through property "flipping".By cashing out your property, you can be sure to take advantage of the next opportunity that rises. The last thing you want is to be restricted by the lack of funds despite affordable borrowing costs. The only limiting factor should always only be time!As for the HDB owners: while you may not be able to cash out on your HDB property, why not think outside the box and enjoy similar benefits by renovating your neighbour's home and making it yours?
7. Everything must go together!This next one is for the married couples.You may have said it in your vows and have the need to share everything with each other, having a home liability together is definitely a no go. With the exception of combining your incomes to qualify for a specific loan amount, you won't be able to enjoy as much loans when it comes to purchasing your second or third property, simply because of the maximum loan-to-value ratio.
The solution to get around this would be to:• Apply for the home ownership in joint names, BUT• Apply for the home loan in a single name.Fred not, you can still use either of your CPF monies to make down payments or even to service monthly loan instalments.
Checklist for the Savvy Property/Home Owner in an Ideal Market Environment
If I have identified a potential investment opportunity in the form or a property/home purchase today, I will:✔ check through the list of financing packages available from the banks and select a suitable option hopefully with a minimal 2-3-year lock in period or ideally no lock in at all;✔ apply for the maximum loan quantum and tenor to manage my financing comfortably without overstretching my cashflow and review my loan portfolio every 2-3 years;✔ leave my CPF monies alone to let them earn risk free returns of 2.5% p.a. unless I have better usage of my spare cash for other investments or for a new property;✔ check periodically to see if I have positive equity that I can extract from my property through cash out, and lastly,✔ leave my wife alone for my property loan commitments.

Article by Alvin Lock, Associate Director, Redbrick Mortgage Advisory
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- 80% of overseas capital invested in Central London offices originated from outside Europe- China and Hong Kong accounted for largest overseas investment into Central London office space 16 February 2017, Singapore - According to Knight Frank's The London Report - 2017, the Central London property market has witnessed significant capital inflows since the referendum, despite an initial pause for breath. For London real estate, the shift towards a wider world of occupiers and investment capital is at an advanced stage. Last year, 73%1 of transactions involved an overseas buyer compared to 65% in Singapore2, 40% in New York2 and 33% in Paris2. A key theme for the market over the last few years has been the rise of the Chinese buyer, whose overseas investment appetite has grown exponentially. While capital controls have been put in place in China to control outflows, Knight Frank expects Chinese investment into London to continue in 2017, although it may slow as overseas reserves are depleted and mechanisms of getting capital out of the country are restricted. Nicholas Holt, Head of Research, Asia-Pacific, Knight Frank Asia-Pacific, says, "Appetite for London commercial property from China and Hong Kong-based investors remains strong. Indeed, the currency advantage that resulted from the outcome of the referendum has made the UK in general even more attractive to these buyers. Looking forward, given the continued drive for diversification, we expect the UK's capital, which boasts strong liquidity and a robust economy, to remain high on Chinese and Hong Kong investors' wish lists." Commercial real estate prevailsLondon's success as a business location saw £9.3 billion of overseas money invested in Central London offices in 2016, out of which 80% were from outside of Europe. China and Hong Kong were the largest sources of foreign investment, accounting for £2.9 billion or 31.2% of total overseas investment, while investment arising out of Asia-Pacific made up £1.0 billion or 10.8% of total overseas investment. Office take-up in Central London for the final quarter of 2016 totalled 3.6 million sq ft, the highest since Q3 2015, 14% above the long-term average and driven by strong activity across the whole market. Seven of the ten largest occupier deals in 2016 were to overseas corporations, particularly from North America, which is the same as in 2015. John Snow, Head of Commercial, Knight Frank, comments, "In 2017, Central London will see international money diversify further, thanks to the fall in the pound's value, widening the range of buyers in the market, and further reducing the importance of the EU as a source of funds. This pattern will play out in other parts of the London economy, given that tech has always been US-biased and finance historically traded across the time zones. "A new growth pattern for the London economy has already emerged, and will now gain momentum, which harks back to its day as the hub of the Commonwealth trade system. The new model is closely entwined with North America and Asia-Pacific, built around common ground on language, law and business practice. Within this new system, London has a Switzerland-like role, as a safe haven to park money as an insurance policy against the unforeseen." Stephen Clifton, Head of Central London Offices, Knight Frank, comments, "A wall of overseas money is migrating towards London in 2017. The main problem facing investors will be sourcing stock. Overall, we enter 2017 with less certainty than many of us would like, or are used to. However, the fundamentals of the London office market are strong. In the leasing market, the tech firms have shrugged off Brexit and are taking space. In the investment market, overseas investors are showing a strong appetite for London offices. We view 2017 as a year that will surprise on the upside."
END
To download the report, please visit:http://www.knightfrank.com/research/the-london-report-2017-4366.aspx
About Knight FrankKnight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank, together with its US alliance partner, Newmark Grubb Knight Frank, operate from 417 offices, in 58 countries, across six continents and has over 13,000 employees. The Group advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants. For further information about the Company, please visit www.knightfrank.com.

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