More Residential Sites Coming Our Way

The Alexandra site attracted 6 bids when tender closed yesterday. With top bid at $288.4m, this equates to $639 psf ppr. The 99-yr site can build abt 400 units, <= 40 storeys high. Estimated break even cost at $1000 - $1100 psf.
Land: 8,558.9 sqm, GFA: 41,939 sqm [Pending]

Its neighbouring site, The Metropolitan, fetched $350 psf ppr in Nov 05.

Other residential sites:
(1) Boon Lay Way/Lakeside (beside Lakeside MRT) * URA-BoonLay *
Land: 22,000.9 sqm, GFA: 77, 003 sqm, $205.6m ($248 psf ppr) [Dec 07]
(2) Simei St 4 (near Simei MRT) * URA-Simei *
Land: 32,210.5 sqm, GFA: 74, 084 sqm, $236.1m ($296 psf ppr) [Jan08]
(3) Choa Chu Kang Rd/Woodlands Rd (current Ten Mile Junction, abv B.Panjang LRT)
Land: 15,645.2 sqm, Residential GFA: 23, 634 sqm, Commercial GFA: 11,259 sqm (Rejected as bid price was too low) [Apr 08]

* URA-Redhill , ST-Redhill , URA-CCK , AsiaOne-CCK *

Nov CPI at 4.2%

Wow! 4.2%, beating last mth record high!

Nov CPI:
Mth-to-Mth: 0.6% (Last mth: 1.3%)
Yr-to-Yr: 4.2% (Last mth: 3.6%)
1st 11mths 2007: 1.9%

* SingStat-Nov CPI , AsiaOne-Nov CPI , AsiaOne-Inflation *

*****

Some pple's salary oni adjusted once a yr, but inflation is rising every mth. What's worse, if the annual increment is lower than inflation. Seems tt everything is back to Sq1, or is there really an improvement in living standards?

What a Merry Christmas!

Festive Mood Sets In?

Some 40 estates were put up for en-bloc sale fr Oct, but <10 deals were sealed and some closed without any bids.

This yr, collective sales was at a record of $12.4b, up fr last yr's $8.2b. So, is the mkt cooling? Some cited reasons to current slowed mkt: volatility in stock mkts, sub-prime woes, tightened en-bloc sales, unrealistic asking prices and developers have already acquired numerous sites.

Here are some of the enbloc sales w/o bidders & their indicative prices:
(1) Spanish Village (Farrer Rd) - $878m
(2) Villa delle Rose (Holland Rd) - $ 700m
(3) Elizabeth Towers (Mt Elizabeth) - $673m
(4) Chancery Cour (Dunearn Rd) - $468m
(5) Royalville (Sixth Ave) - $350m

* AsiaOne-Enbloc *

*****

Festive season is here ... ... Hari Raya Haji, Christmas, New Year and then Chinese New Year. Everyone is too busy with the celebration, pple jus wanna hv fun now after a yr of hardwork :).
*toast* Cheers!

Malls Rental Going Up

Rents in Orchard Rd central rose by 17.2% this yr, compared to 9.9% for malls at its fringe, and 7.5% for suburban malls.

4Q Ave Rental ($ psf):
(1) Orchard (central)-Wisma, Ngee Ann City: $45.50
(2) Marina Centre, City Hall, Bugis: $30.20
(3) Suburgan-Tampines Mall, Jurong Pt: $29.00
(4) City fringe-Great World City, Novena Sq: $24.10
(5) Orchard (fringe)-Park Mall, Tanglin Mall: $22.40

* ST-MallsRental , AisaOne-SpecialistMalls *

Beach Road - The Next Hot Spot?

1H2008 Government Land Sale (GLS)

1H08:
(1) 17 new sites: 12 residential, 1 commercial, 3 hotel, 1 white
(2) 20 unsold sites fr 2H07: 9 residential, 2 commercial, 7 hotel, 1 white, 1 comm/res

These sites can yield abt 8,250 pte residential units, 410k sqm GFA of comm space and 5,850 hotel rooms.

Confirmed list: 11 sites - 8 res, 2 hotel, 1 white
Reserved list: 26 sites - 13 res (incl 3 EC), 3 comm, 8 hotel, 1 white, 1 comm/res

* URA-GLS *

New Definition for Development Baseline

The revised definition of 'Dev Baseline' will take effect from 1 Jan 08, where the value of an approved development will be its dev baseline, above which DC (Dev Charge) will be payable. No longer can historical baseline values in MP1958 and MP1980 be used; which saw some landowners need not have to pay DC due to high historical baselines. But for those landowners who have not carried out development on their land yet, the govt has 'safeguarded' the historical baseline up to the use and intensity allowed in MP2003.

* URA-Revised , URA-Baseline Guide *