iCompareLoan Editorial Team
While the real estate landscape witnessed one round of mortgage rule change in 2012, it was mild in comparsion to what laid ahead in the following year. In 2013, the Government rolled out, in total, four rounds. First there was the increase in cash outlay and tigher loan-to-value (LTV) ratio for second, and subsequent homes, along with the tigher MSR ratio for HDB flats. These were coupled with a myraid of other measures. By mid-year, a radical new framework came along in the form of the TDSR. Towards the fourth quarter, the MSR ratio for loans granted by the HDB was lowered to 30 per cent to be on par with HDB loans disbursed by financial institutions. Finally, 2013 closed with the MSR ratio, for the first time, applying to buyers of ECs.
In contrast, 2012 only saw the maximum loan tenure capped at 35 years, and a lowering of the LTV ratio for certain groups of borrowers.
So how have the series of regulations in 2013 affected the market for high-end homes in District 09, 10 and 11?
For each district, based on caveats lodged with URA, we compare the median price changes for projects with 10 or more caveats lodged in each of 2012 and 2013. (Refer to Table 1-3)
Comparing 2012 and 2013, we find that for
District 09
- 6 out of 11 projects experienced a fall in median price, but only 3 has a fall in median unit price
District 10
- 3 out of 10 projects experienced a fall in median price, but only 2 has a fall in median unit price
District 11
- 5 out of 8 projects experienced a fall in median price, but only 1 has a fall in median unit price
This indicates that the overall price quantum may have declined but this is due to smaller units being transacted, as attested by the corresponding fall in median area of homes that changed hands. Hence we can conclude that prices of upmarket homes are holding up well, as a matter of fact the median unit prices of most projects have soared. This can be attributed to the deep pockets of individual sellers and developers of these luxurious homes, who are not compelled to part with their properties at a discount – tepid housing market notwithstanding.
With a taming market but prices still going strong, coupled with stringent lending rules, it is more critical than ever to have a mortgage specialist helps you compare mortgage loan Singapore and work out your finances. Speak to an iCompareLoan mortgage expert today!
Figures are arrived at based on caveats lodged with URA as of 4 May 2014. Only projects with 10 or more caveats lodged in each of 2012 and 2013 are analysed.
Tables 1: District 09 Selected Homes Price Figures For 2012 & 2013
|
2012 |
|||||||
|
Project Name |
Street Name |
Sample Size |
Price Range (S$ mil) |
Unit Price Range (S$ psf) |
Median Price (S$ mil) |
Median Unit Price (S$ psf) |
Median Area (sq ft) |
|
Aspen Heights |
River Valley Road |
40 |
1.3 – 4.75 |
1208-1699 |
2.01 |
1,524.50 |
1324 |
|
Belle Vue Residences |
Oxley Walk |
21 |
4.44 – 12.23 |
1510-2917 |
6.38 |
2,146.00 |
3175 |
|
Espada |
St. Thomas Walk |
11 |
0.84 – 1.92 |
2323-2920 |
1.1 |
2,590.00 |
377 |
|
Helios Residences |
Cairnhill Circle |
31 |
4.23 – 12.5 |
3130-3890 |
5.98 |
3,541.00 |
1668 |
|
Hilltops |
Cairnhill Circle |
11 |
3.71 – 11.41 |
2972-4398 |
5.25 |
3,199.00 |
1593 |
|
Parc Sophia |
Adis Road |
20 |
0.84 – 1.3 |
1411-1932 |
1.1 |
1,716.00 |
667 |
|
Rivergate |
Robertson Quay |
33 |
2.03 – 4.54 |
1778-2330 |
3.1 |
2,050.00 |
1507 |
|
The Scotts Tower |
Scotts Road |
58 |
1.94 – 3.31 |
3034-3982 |
2.24 |
3,402.50 |
667 |
|
The Wharf Residence |
Tong Watt Road |
31 |
1.52 – 3.95 |
1352-2229 |
2.01 |
1,718.00 |
1076 |
|
Visioncrest |
Oxley Rise |
16 |
1.37 – 2.38 |
1812-2215 |
1.88 |
2,009.00 |
920.5 |
|
Waterford Residence |
Kim Yam Road |
18 |
1.47 – 2.8 |
1294-1715 |
1.92 |
1,489.50 |
1394 |
|
2013 |
||||||
|
Project Name |
Sample Size |
Price Range (S$ mil) |
Unit Price Range (S$ psf) |
Median Price (S$ mil) |
Median Unit Price (S$ psf) |
Median Area (sq ft) |
|
Aspen Heights |
20 |
1.74 – 5.3 |
1484-1796 |
2.1 |
1,589.50 |
1572 |
|
Belle Vue Residences |
11 |
3.8 – 10.5 |
1550-2069 |
4.39 |
1,735.00 |
3563 |
|
Espada |
10 |
0.91 – 1.9 |
2442-2759 |
1.75 |
2,646.00 |
377 |
|
Helios Residences |
18 |
3.46 – 12 |
2700-3976 |
1.41 |
3,464.00 |
1668 |
|
Hilltops |
13 |
2.35 – 5.9 |
2601-3404 |
2.05 |
3,027.00 |
1335 |
|
Parc Sophia |
10 |
0.93 – 1.28 |
1525-2069 |
1.61 |
1,865.00 |
549 |
|
Rivergate |
18 |
2.32 – 4.26 |
1898-2298 |
2.04 |
2,050.00 |
1733 |
|
The Scotts Tower |
37 |
2.08 – 5.16 |
3180-4267 |
1.8 |
3,608.00 |
807 |
|
The Wharf Residence |
10 |
1.86 – 8.5 |
1592-2151 |
1.12 |
1,912.50 |
1254 |
|
Visioncrest |
10 |
1.48 – 2.5 |
1919-2323 |
3.39 |
2,096.50 |
915 |
|
Waterford Residence |
14 |
1.59 – 2.55 |
1500-1746 |
1.84 |
1,582.00 |
1141 |
-
Project Name
% Change in Median Price
% Change in Median Unit Price
% Change in Median Area (sq ft)
Aspen Heights
15.24
4.09
0.19
Belle Vue Residences
(9.06)
(23.69)
0.12
Espada
(13.99)
2.12
0.00
Helios Residences
(0.83)
(2.22)
0.00
Hilltops
(28.15)
(5.68)
(0.16)
Parc Sophia
(5.83)
7.99
(0.18)
Rivergate
11.05
0.00
0.15
The Scotts Tower
18.35
5.70
0.21
The Wharf Residence
21.04
10.17
0.17
Visioncrest
5.53
4.17
(0.01)
Waterford Residence
(4.07)
5.85
(0.18)
Tables 2: District 10 Selected Homes Price Figures For 2012 & 2013
|
2012 |
|||||||
|
Project Name |
Street Name |
Sample Size |
Price Range (S$ mil) |
Unit Price Range (S$ psf) |
Median Price (S$ mil) |
Median Unit Price (S$ psf) |
Median Area (sq ft) |
|
D’leedon |
Leedon Heights |
228 |
0.96 – 3.81 |
1321-1937 |
1.7 |
1,469.50 |
1389 |
|
Leedon Residence |
Leedon Heights |
79 |
2.35 – 14.42 |
1413-2494 |
4.85 |
1,890.00 |
2131 |
|
Nathan Residences |
Nathan Road |
14 |
0.89 – 1.4 |
1394-1782 |
1.22 |
1,602.50 |
786 |
|
One Jervois |
Jervois Close |
16 |
1.5 – 3.35 |
1496-1799 |
2.3 |
1,623.00 |
1308 |
|
Parvis |
Holland Hill |
13 |
1.7 – 4.6 |
1650-2059 |
3.52 |
1,938.00 |
1991 |
|
Ridgewood |
Mount Sinai Drive |
14 |
1.55 – 3.43 |
845-1267 |
2.15 |
1,147.00 |
1873 |
|
Sommerville Park |
Farrer Drive |
22 |
1.04 – 6.55 |
1396-1730 |
2.93 |
1,567.00 |
1948 |
|
The Tessarina |
Wilby Road |
32 |
1.25 – 2.51 |
1250-1555 |
1.83 |
1,395.50 |
1318.5 |
|
The Trizon |
Ridgewood Close |
55 |
1.66 – 4.03 |
1101-2043 |
2.61 |
1,710.00 |
1550 |
|
Valley Park |
River Valley Road |
33 |
1.16 – 5.38 |
1357-1644 |
1.76 |
1,480.00 |
1216 |
|
2013 |
||||||
|
Project Name |
Sample Size |
Price Range (S$ mil) |
Unit Price Range (S$ psf) |
Median Price (S$ mil) |
Median Unit Price (S$ psf) |
Median Area (sq ft) |
|
D’leedon |
680 |
1.02 – 7.1 |
1244-2120 |
2.1 |
1485 |
1475 |
|
Leedon Residence |
37 |
2.32 – 14.8 |
1708-2685 |
4.39 |
2100 |
2110 |
|
Nathan Residences |
12 |
1.1 – 1.74 |
1357-2078 |
1.23 |
1910 |
592 |
|
One Jervois |
12 |
1.26 – 4.25 |
1548-1984 |
3.05 |
1789 |
1701 |
|
Parvis |
10 |
1.94 – 4 |
1835-2009 |
3.29 |
1934.5 |
1701 |
|
Ridgewood |
16 |
1.6 – 3.65 |
1052-1399 |
2.51 |
1260.5 |
2002 |
|
Sommerville Park |
13 |
1.26 – 3.5 |
1453-2018 |
2.17 |
1618 |
1302 |
|
The Tessarina |
12 |
1.44 – 2.24 |
1495-1660 |
1.83 |
1581 |
1173 |
|
The Trizon |
26 |
1.76 – 3.71 |
1500-1911 |
3.42 |
1707 |
2067 |
|
Valley Park |
15 |
1.16 – 2.88 |
1394-1727 |
2.1 |
1567 |
1216 |
|
Project Name |
% Change in Median Price |
% Change in Median Unit Price |
% Change in Median Area (sq ft) |
|
D’leedon |
19.05 |
1.04 |
0.06 |
|
Leedon Residence |
(10.48) |
10.00 |
(0.01) |
|
Nathan Residences |
0.81 |
16.10 |
(0.25) |
|
One Jervois |
24.59 |
9.28 |
0.30 |
|
Parvis |
(6.99) |
(0.18) |
(0.15) |
|
Ridgewood |
14.34 |
9.00 |
0.07 |
|
Sommerville Park |
(35.02) |
3.15 |
(0.33) |
|
The Tessarina |
0.00 |
11.73 |
(0.11) |
|
The Trizon |
23.68 |
(0.18) |
0.33 |
|
Valley Park |
16.19 |
5.55 |
0.00 |
Tables 3: District 11 Selected Homes Price Figures For 2012 & 2013
|
2012 |
|||||||
|
Project Name |
Street Name |
Sample Size |
Price Range (S$ mil) |
Unit Price Range(S$ psf) |
Median Price (S$ mil) |
Median Unit Price (S$ psf) |
Median Area (sq ft) |
|
Amaryllis Ville |
Newton Road |
24 |
1.03 – 4 |
1373-1657 |
1.45 |
1,494.00 |
958 |
|
Cube 8 |
Thomson Road |
13 |
0.88 – 3.35 |
1108-1662 |
1.27 |
1,424.00 |
904 |
|
Lincoln Suites |
Khiang Guan Avenue |
20 |
0.97 – 3.77 |
1864-2948 |
2.29 |
2,068.50 |
1109 |
|
L’viv |
Newton Road |
27 |
1.29 – 2.5 |
2103-2541 |
2.15 |
2,277.00 |
990 |
|
Park Infinia At Wee Nam |
Lincoln Road |
28 |
1.12 – 5.37 |
1523-2153 |
2.15 |
1,887.00 |
1221.5 |
|
Soleil @ Sinaran |
Sinaran Drive |
34 |
1.04 – 3.44 |
1548-2202 |
2.02 |
1,849.50 |
1098 |
|
Suites @ Newton |
Surrey Road |
23 |
0.95 – 1.43 |
1810-2377 |
1.29 |
2,140.00 |
603 |
|
The Lincoln Residences |
Surrey Road |
14 |
2.25 – 3.89 |
1598-1923 |
3.00 |
1,766.00 |
1841 |
|
2013 |
||||||
|
Project Name |
Sample Size |
Price Range (S$ mil) |
Unit Price Range (S$ psf) |
Median Price (S$ mil) |
Median Unit Price (S$ psf) |
Median Area (sq ft) |
|
Amaryllis Ville |
12 |
1.14 – 2.6 |
1500-1741 |
1.75 |
1,542.00 |
1119.5 |
|
Cube 8 |
14 |
0.96 – 2.2 |
1394-1787 |
1.41 |
1,538.50 |
904 |
|
Lincoln Suites |
11 |
1.18 – 2.4 |
1979-2798 |
2.05 |
2,143.00 |
1033 |
|
L’viv |
12 |
1.3 – 2.46 |
2119-2544 |
1.61 |
2,442.00 |
657 |
|
Park Infinia At Wee Nam |
11 |
1.2 – 3.03 |
1810-2144 |
2.04 |
2,039.00 |
1001 |
|
Soleil @ Sinaran |
11 |
0.98 – 2.32 |
1346-2228 |
1.80 |
1,954.00 |
936 |
|
Suites @ Newton |
16 |
0.97 – 1.49 |
1910-2460 |
1.12 |
2,045.00 |
517 |
|
The Lincoln Residences |
14 |
2.4 – 5.3 |
1640-1884 |
3.39 |
1,773.00 |
1884 |
|
Project Name |
% Change in Median Price |
% Change in Median Unit Price |
% Change in Median Area (sq ft) |
|
Amaryllis Ville |
17.14 |
3.11 |
0.17 |
|
Cube 8 |
9.93 |
7.44 |
0.00 |
|
Lincoln Suites |
(11.71) |
3.48 |
(0.07) |
|
L’viv |
(33.54) |
6.76 |
(0.34) |
|
Park Infinia At Wee Nam |
(5.39) |
7.45 |
(0.18) |
|
Soleil @ Sinaran |
(12.22) |
5.35 |
(0.15) |
|
Suites @ Newton |
(15.18) |
(4.65) |
(0.14) |
|
The Lincoln Residences |
11.50 |
0.39 |
0.02 |
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