Showflat Gallery
Orchard Boulevard Condo wp-image-380″ src=”http://www.westwoodresidencesec.com/wp-content/uploads/Westwood-Residences-Gallery-1.jpg” alt=”Westwood Residences Gallery 1″ /…
Resale HDB Prices
A 6.2% drop in 2014 of HTB flat resale sales is the largest since the 8.2% drop in 2001. This is according to data published by the housing board on Friday and reported by PropNex Reality./
Based on the quarterly basis of sales for 2014 the 3rd quarter fell 1.5%, which marked the 6th consecutive 3-month period of declining sales.
Westwood Residences Resale Prices
Resale volume dropped 17,318 units from the 18,100 units sold in 2013. This indicates a 4.3% drop in the HTB market since last year as fewer buyers are entering the market at this time for Westwood Residences.
Numerous causes were cited such as a combination of property curbs that occurred as reducing the Mortgage Servicing Ratio (MSR) of 30%. Another factor was the maximum loan term of 25 years for HTB mortgage loans, and finally the three-year wait for new PR’s before they can buy resale flats all combined with the allowance of singles to buy 2-room build-to-order (BTO) flats in non-mature estates. This was all reported along with the total drop in resales by Propnex as well.…
Capitaland New Buyers
CapitaLand was inundated with new buyers for 31 of the 50 condos, just release for its Marine Blue freehold project. A penthouse suite, a one-bedroom-plus-study, and the remainder made up of 2 bedroom condos.
The median price of these units were between $1800 and $2000psf , which according to media sources was a 10% discount from Marine blues original listings.
Westwood Residences Westwood Avenue
In contrast, recent purchases of freehold condos in the immediate area in Westwood Residences, such as those in Corralis, SeaView, Parc Seabreeze, and 70 St. Patrick’s ranges from $1630-$1730psf. The rent in this area average between $3.20 and $4psf per month, SLP international’s Executive Director, Nicholas Mak was quoted as saying.
Westwood Residences
Comprising a total of 4 Strata Terrace houses and 120 condominiums, Marine Blue is a stone’s throw from the proposed Marine Parade MRT station near Westwood Residences and is adjacent to the Grand Mercure, Roxy Hotel in Marine Parade.
From the spokesperson at CapitaLand comes the following quote, “The project is expected to attract young professionals and Lumina Grand EC families seeking a modern well-designed house in the mature Marine Park Estate. It is also close to the historically rich Katong area, its …
Consumer Spending – Westwood Residences
You would think with the fall in housing prices for Westwood Residences the people of Singapore would be changing their spending habits. Unlike people in America, the people in Singapore don’t worry about recession. They know their economy is strong, and it’s one of the best in the Pacific Rim.
And all the economic textbooks, it says when there’s a drop in price and housing. There should be a drop in consumerism as well. Obviously, the people in Singapore don’t read the same textbooks as the people in America.
Consumer Spending Westwood Residences
In Singapore, the evidence suggests that as the people there become
wealthier they can weather drops in prices and wait until they come back up again before considering selling their properties.
This is only one of the reasons why even though the property market is slowing consumer’s confidence in the money supply has not wavered for Westwood Residences.
Westwood Residences Koh Brothers
If you look at 2014, housing prices dropped 6.1% in the HTB market, while only 4% in the private housing market, to Singaporeans. This is considered a drop in the bucket in Westwood Residences.
In 2015, most experts agree that the market will continue to …
Demand for Amenities
Westwood Residences is a new Executive Condominium (ED) project in Singapore. The project is part of the Government Land Sales Programme from 2013. The land for this ED was sold at the end of 2013 to Koh Brothers Group and Heeton Homes Pte Ltd. These buyers purchased a 99-year leasehold on the property. Both of these contracting companies have a long history in Singapore of carrying off new home developments with pinache. The complex takes up about three full city blocks. Located in Jurong West, the land is bordered on one side by Westwood Avenue and on the other side by the Pan Island Expressway (PIE).
Westwood Residences EC Demand
Demand is expected to be heavy for these excellent family homes due to their location and the fact that this is the first ED development built since 1997 in Singapore. The project will include three, four and five room homes. As part of the development, residents will also have the services of a guardhouse, gymnasium, clubhouse, tennis courts, swimming pools and an open play area. There are also garden walkways, close parking and individual mail boxes at a central location. The clubhouse has a party area that can be reserved …