According to HDB, Yishun Avenue is growing into both a commercial and residential site which has attracted 5 bids after its tender closed.

This site covers about 9,759.80 sqm and was launched for sale in the month of October 2014. The maximum gross floor area (GFA) covers 27,327.44 sqm with a plot ratio of 2.8.

Bellewoods EC

Northern Resi and Northern Retail placed the highest bid at $185.09 million which is about $6,773 gross floor area for Bellewoods.

Coming in close with the second bid was KBD Ventures and Changi Properties with a bid of $181.6 million. Lastly, the lowest bid at $94.5 million was placed on the table by KSH Land Developers.

According to Desmond Sim who is the CBRE research head, these price bids will remain subdues if the current market conditions remain constant in Bellewoods.

Bellewoods EC Woodlands

It is important to notice that with the neighboring development projects, the bids should have been approached differently because Yishun’s private residential projects over the north that are to be launched. Before placing the bids, the bidders would have put considerations such as these.

Bellewoods EC Singapore

It is estimated that about 180 housing units will be erected according to the housing board in referencing to this 99-year leasehold plot.

After the evaluation of the provided bids, the final decision on whom to award will be issued.

The year 2015 is bound to stand out in the market industry with nine sites seeking to launch for sale in the first half of the year. It is as a result of these that will increase the number of bidders therefore making better investments…

Last year investment in real estate for property use shot up over 100% in the final quarter of the year. This equated to $360 million, which is up from hundred and $56 million in Q 3. So the naysayers in the Singapore property investment arena are once again proven wrong.

There were some big winners Blackstone acquired 18 units at Patterson suites for an estimated $83 million.

48 units were sold at treasure on Baltimoral for $185 million by the Haip Hoe Holding Company.

The biggest winners however, were the Chinese whose developers went aggressively after government land sales in this Bukit Batok EC last quarter of 2014.

Real Estate Investments Bellewoods

Some other interesting events for Bellewoods then added spice to the market was Nan Shan Group Singapore was awarded a private residential site license near upper Thomson Road at $173.6 million, while NEC (executive condominium) development was awarded in the Sembawang area for $229.4 million Qingian Reality Corporation. It was interesting to note the price paid was over $21 million higher than their nearest competitor.

Bellewoods EC Woodlands

Going forward into 2015, this type of market for Bellewoods is expected to slow a bit due to a slump in the residential market conditions.

This is because the government has headed that the Additional Buyers Stamp Duties (ABS the) will not be removed, barring a meaningful correction in the market during 2015. This in conjunction with the continual enforcement of the Total Debt Service Framework, real estate investors are likely to stay on the sidelines until they receive a much clearer direction from the government that the market has bottomed out before they resume investing.

Bellewoods EC Investment

In the meantime, developers for Bellewoods, as well as well-heeled investors are continuing to find creative ways to get around these regulations to manage their portfolios to continue making profits.

One example of creative bookkeeping done by CDL, who has partnered with Blackstone’s technical opportunities fund and CIMB Bank Berhad Labuan Offshore Branch are investing in cash flow of their combined properties in Sentosa Cove, shared Swee Shou Fern. The above information was furnished by DTZ who is watching closely the outcome of these various activities by developers and foreign investor for Bellewoods.…

The launching of the executive condominium Bellewoods EC is an exciting event and ground-breaking occasion from a number of standpoints. It does not simply create a chance of acquiring modern and high-standard property in a complex with outstanding facilities, but also of residence in perfectly-designed settings, in a close proximity to transport links and superb commercial and educations establishments at advantageous conditions and favourable price. The development offers full range of executive facilities comparable with the best private properties specifications, as well as outstanding features, such as family pool, fitness area, gardens, barbecue area, tennis court and Jacuzzi – all of which contribute to its attraction, and will certainly play a role in increasing significantly its value on the property market in the years to come.

Bellewoods Amenities and Facilities

The Developer Qingjian Realty (South Pacific) Group Pte Ltd for Bellewoods EC, a conglomerate involved in a variety of business operations, with extensive experience in developing building projects. Although the previous focus of the parent company was predominantly on large, benchmark projects, such as 2008 Olympic Sailing Centre and Liuting International Airport in China, the Singapore arm of the corporation has in recent years decided to dedicate its impressive expertise to residential initiatives, such as launching and developing executive and mass market condominiums.

Bellewoods Location and Pricing

Bellewoods EC is located on Woodlands Avenue 5/ Woodlands Avenue, Singapore, within easy reach to a number of transport amenities, which ensures fast, comfortable links with shopping centres, schools, restaurants and entertainment sites. Glancing over the lavish area of Woodlands Waterfront, the stylish structures of the development provide an island of tranquillity in the midst of energetic, fast-paced environment. Consequently, the residence would be of interest to professionals and family-orientated purchasers alike, as it combines perfectly the attraction of stylish home for a busy career people with the privacy of a quiet, undisturbed lifestyle and homely, children-friendly scenery.

Bellewods EC Description

Bellewoods comprises three 11-storey blocks and nine 12-storey blocks with a basement car park. The blocks hold 561 residential units in total – a mix of 2-bedroom, 3-bedroom, 4-bedroom, and 5-bedroom flats, with a significantly higher proportion of the 3-(291 units) and 4-bedroom (200 units) choices. The expected TOP date of the project is 31 November 2017. The development is opportunely located within walking distance from the Woodland Mass Rapid Transit Station on the North South Line. In addition, Woodlands is scheduled to be an interchange station at Thomson-East Coast Line which will connect Woodlands North to Gardens by the Bay, thus creating even more advanced connectivity and transport coverage for the residents of the area, resulting in superior commute, improved employment opportunities and leisure activities, and overall better-quality lifestyle in Bellewoods.…

“Time flies and the year is coming to an end. With 2015 upon us, it is timely for us to take stock to see how 2014 did, and at the same time, forecast how next year would be like for Bellewoods.

In Jan 2014, we shared why we thought 2014 could be a turbulent for the property market . To recap, the bearish outlook for 2014 was due to the following reasons: (1) more residential units being completed and coming online, (2) more resale units entering into the market as units affected by the Seller Stamp Duty (SSD) clear the 4 years mark, (3) the pool of potential buyers has shrunk significantly. Looking back, the assessment from our research team has not been too far off. The index dropped from the peak of 216.3 in 2013Q3 to 207.9 in 2014Q3, which translates to a drop of about 4%.

Bellewoods EC Property Trends

So the question on everyone’s mind right now is what is going to happen to the real estate market in 2015 for Bellewoods Woodlands? Is it a good time to enter or should you wait? And if you enter into the market, where and what should you buy?

Let us tackle the first question – what is going to happen to the real estate market in 2015? 2014 has been a lacklustre year and unless the government removes any lending measures, it is envisaged that 2015 will be no different.

Bellewoods EC Woodlands

Some investors are of the view that a market recovery for Bellewoods could be on the way as the market downturn, which happened during the Global Financial Crisis in 2008, only lasted for 12 months. However, what they fail to realise is that the market conditions then were very different and the current malaise is done intentionally to rein in the inflated property market. Historically, market downtrends have lasted between 10 and 15 quarters. As we are only halfway through, investors and stakeholders must be mentally prepared for the quiet market to persist for at least another 6 to 12 months. For those who are interested to have the historical URA private property index since 1975, you can download the data here for free.

Market Outlook for Bellewoods

In view of the dull market outlook, property investors may want to sit out of the Singapore property market for the time being. Unless the deal is exceptionally attractive, investors who enter into the market right now must be mentally prepared to see the value of their assets drop in the coming months.

What about those who are looking for a place to stay and do not have the flexibility to wait? For homebuyers, here are some pointers you may want to look out for…

Have units in prime locations become more affordable?

Several weeks ago, some property developers for Bellewoods cautioned that the cooling measures were adversely affecting the Singapore market and even forecasted an impending fire sale if the market malaise was to continue. Naturally, some homebuyers may be wondering if it is timely to venture into the prime districts and buy a unit directly from developers. To answer that question, let us first compare the median prices of properties in the different parts of Singapore.

Based on Figure 1, it can be seen that median PSF prices for non-landed residential units for Core Central Region (CCR), Rest of Central Region (RCR) and Outside Central Region (OCR) are S$1,457, S$967 and S$923 respectively. While prices in CCR have dropped, as a whole, it is still much higher than RCR and OCR. This means that, although prices in prime areas have fallen, those who are thinking of getting a home there must be prepared to still pay a substantial amount.

Bellewoods Residential Units Woodlands

In view that there will be excessive supply coming onto the market, some buyers for Bellewoods may be of the view the it could make more sense to get a unit directly from developers as they believe that they could be getting a better deal. However, when we compare the median PSF prices for completed and uncompleted units, they tell us a different JCube Residence story (see Figure 2 to Figure 4).

In terms of pricing, the new launch and resale median prices for CCR has the smallest difference of about S$71psf. However, the new and resale median prices for RCR and OCR have larger differences of about S$221psf and S$214psf.

From this simple analysis, we can tell that resale units for RCR and OCR are more value for money units in Bellewoods EC and those who are looking for deals should focus on those properties instead. For those who are looking to buy a unit in CCR, the difference between new and resale units is not too significant, hence it suggests that there could be a possibility for homebuyers to find deals directly from developers there.

Conclusion

In conclusion, as long as the cooling measures remain, I really do not expect any significant change to the property market in the coming months, or even for the whole of 2015.

That said, I concede that I may have oversimplified some considerations in this article and this assessment is based on current market conditions. The situation could change overnight if the government starts to lift some of the measures. Nonetheless, this article is meant to put some context to the lacklustre market performance that we have been seeing for the past few months. Similar to what I mentioned last year, I have definitely misread the property market before and this is one instance where I am hoping my assessment is wrong. But looking at the current situation, it is hard to see any silver lining so property owners should expect a bumpy road ahead.”…