Singaporeans make it big in real estate

Singapore's rich have taken a more traditional path to their billions by that most basic of economic activity - real estate. Half of Singapore's 16 billionaires on the Forbes list derive their wealth from property development and hotels. And on Singapore's Top 50 Rich List, released by Forbes last August, nearly half were property tycoons too.

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Where is property price heading?

The two biggest items in determining the price of a condominium are Land Price and Construction Cost. With land price averaging at $700 per square feet per plot ratio and the construction cost approaching $300 per square feet, the breakeven price is more than $1000 per square feet regardless of the location of the project. So, with Land Price and Construction Price at these levels, where do you think the selling price is heading? Would you expect the land price and construction cost to come down, moving forward? If the answers are no, then how would you expect the selling price to drop below $1000 psf.

Selling price of more than $1000 psf is not unreasonable and will be here to stay.

 

Breakeven Price

 

 

Excuse me! Are you an Easterner?

District 18, comprising Pasir Ris, Tampines and Simei, is one of the most self-sustaining regions in Singapore. There are plenty of good schools, malls and eateries. Downtown East and Pasir Ris Park provide a perfect getaway for families without having to get away. Aloha Loyang and Pasir Ris Kid Kampong will keep the residents occupied during the weekends.

 

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Where is property price heading?

Despite expectations of more headwinds, developers are unlikely to lower prices, according to a recent report in The Business Times.

 

 

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Excitements at Changi Village

Hope everyone had a great start to the new year.

Here is the first great news of the year. More excitements to spruce up Changi Village in this brand new year. Changi Village is on track to be developed into a sports and recreational centre. Some of the colonial buildings around Changi Village are undergoing some face lifting.

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The Marina Coastal Expressway - opening on Dec 29 2013

Telok Ayer

Telok Ayer Street is one of the most historical places in Singapore.  Telok Ayer is Malay for Bay Water. As the name implies, Telok Ayer was a coastal road along the bay some 200 years ago. Today, the whole bay area in front of Telok Ayer Street lies on reclaimed land. Over the years, Shenton Way and Marina South were reclaimed from the sea. Temples and mosques are plentiful at Telok Ayer, built by early Chinese and Muslim immigrants. The numerous religious and clan buildings on Telok Ayer Street testify to their importance in the past.

Come Dec 22 2013, there will be yet another significant event happening at Telok Ayer. There is a new MRT station opens at Telok Ayer. Telok Ayer MRT Station (DT18) is the name for an underground Mass Rapid Transit train station on the Downtown Line .

 

Thian Hock Keng Temple - oldest Chinese temple in Singapore
 

   


Thian Hock Keng



Nagore Durgha Shrine



Telok Ayer Street





The old waterfront at Telok Ayer in the 1800s



New MRT at Telok Ayer

photos taken with Fujifilm X100S