Government to reduce supply of EC Land

The government is expected to trim down the supply of land intended for private and EC Tampines Ave 11 Condo housing on the confirmed list for H1 2015 Government Land Sales (GLS) programme due to rising vacancies and sluggish sales, according to property experts in media reports. Therefore existing land like Westwood Residences will continue to be in demand.

Chua Yang Liang, JLL’s Research Head for Southeast Asia, said, “The period of supplying sufficient land to meet the pent-up demand arising from the large population growth between 2007 and 2009 is over. Now the state is likely to be looking at maintaining sufficient new supply to meet the long-term housing need, i.e. from new household formation in Westwood Residences”.

Westwood Residences Land Sales

In concurrence, Savills’ Alan Cheong noted “the general undersupply situation has been resolved and thus the GLS Programme may reflect a more sedentary pace in line with demographic trends.”

R’ST Research believes the land to be released under the confirmed list for the second half of next year can yield about 1,900 units and this include Westwood Residences, while JLL projected a higher figure of around 3,700 units.

On the other hand, experts feel that land on …

Read More

Iskandar Main Developers

2015 will see UEM Sunrise, one of the main developers of Hillhaven Condo Holland Drive Condo Iskandar, diving headlong into work planed out for Johor that will include a number of catalytic projects in the Nusajay area. This includes Gerbang Nusajaya’s ground-breaking ceremony for Motorsports City.
Having a $15 billion (RM 40 billion) gross development value, Gerbang Nusajaya’s 1,800 hectares consists of residential precincts, industrial parks, campus offices, and retail Bukit Batok EC and lifestyle parks. All of this will be constructed over a span of 25 years in 5 phases.

Westwood Residences Executive Condominium

Chiefly, Motorsports City, with its S$1.32 billion (RM3.5 billion) price tag and 118 hectare area, will bring with it a 4.5km racing track that will be able to host International races. The site will also offer a model automotive nerve centre, which will have F&B outlets, auto showrooms, bonded warehouses, retail units, and al fresco areas. It will also provide centres which will be dedicated to the services, sales, systems and spar parts of a variety of autos. This may in turn affect Westwood Residences EC Sales due to the demand for foreign properties.
A second ground breaking project set of 2015 will be an …

Read More

Economy Slows

The government announced on Tuesday that they are expecting Singapore’s economy to slow to a 3.0% growth rate for 2014 amidst a global deterioration hitting the crucial trade outlook of the city-state. This may slow the sales of Westwood Residences.
In the 9 months to September a 3.3% expansion was seen, year on year, of the Gross Domestic Product (GDP). However, in a statement made by the Ministry of Trade and Industry, there is likely to be an easing in the last quarter that will be in line with the global JCube Condo economy’s projected slowdown. ECs like Westwood Residences however remain resilient as ECs are always in demand.
In 2013 there was a 4.1% expansion in Singapore’s GDP. 2014’s official forecast is a tad lower than the general agreement figure of 3.3% that was given by economists in a survey given this September by the Monetary Authority of Singapore.

Economy Slows may hamper Westwood Residences Sales

Analyst say that, due to Singapore’s open and small economy, they are more vulnerable to developments that are external, more so than their Asian neighbors. Singapore’s Asian neighbors have larger domestic markets in Westwood Residences to help cushion them when they face …

Read More

Westwood Residences Cooling Measures

There are numerous investors who are hunting for Westwood Residences EC in close proximity to the MRT stations as property experts believe condo properties and in particular Executive Condominiums in the West located in close proximity to MRT stations has proven that prices have a tendency to increase as the general economy recovers. This is because there are generally many buyers out there but they are restricted on the loans due to the implantation of the Total Debt to Service (TDSR) ratio on property loans.

Westwood Residences Cooling Measures

Because of the implentation of the restriction of loans, numerous home buyers for Westwood Avenue EC are inquiring about real estate developers to help lower down their asking prices for the new launch units as it became apparent to buyers that there are countless vacant units in the development which are still left unsold. Also, potential buyers are also aware that developers need to pay development charges should there be unsold units after TOP. Even though real estate developers are inclined to Orchard Boulevard Condo id=”spin61″discuss on the prices on Westwood Residences New EC, numerous home buyers of westwood residences Koh Brothers are generally also watchful when searching

Read More