{"id":130780,"date":"2022-10-17T07:38:43","date_gmt":"2022-10-17T00:38:43","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propertyguru-enters-home-services-with-sendhelper-acquisition-first-bto-project-in-ulu-pandan-to-be-launched-in-november-and-more\/"},"modified":"2022-10-17T15:49:57","modified_gmt":"2022-10-17T08:49:57","slug":"propertyguru-enters-home-services-with-sendhelper-acquisition-first-bto-project-in-ulu-pandan-to-be-launched-in-november-and-more","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propertyguru-enters-home-services-with-sendhelper-acquisition-first-bto-project-in-ulu-pandan-to-be-launched-in-november-and-more\/","title":{"rendered":"PropertyGuru enters home services with Sendhelper acquisition, first BTO project in Ulu Pandan to be launched in November and more"},"content":{"rendered":"


\nPropertyGuru enters home services with Sendhelper acquisition, first BTO project in Ulu Pandan to be launched in November and more11th\u00a0October\u00a0to 17th\u00a0October 2022
\nProperty technology firm PropertyGuru marked its entry into the home-services industry with the acquisition of Sendhelper, a local home-service technology startup, for an undisclosed amount. Meanwhile, 3,000 Build-to-Order (BTO) flats will be built across three housing projects within the eastern half of Ulu Pandan, with the first project set for launch in November 2022.
\n\u00a0
\n1) PropertyGuru enters home services with Sendhelper acquisition
\nProperty technology firm PropertyGuru marked its entry into the home-services industry with the acquisition of Sendhelper, a local home-service technology startup, for an undisclosed amount, reported The Business Times.
\nThe real estate firm believes the acquisition \u2013 which is not expected to materially affect its FY2022 results \u2013 will provide long-term growth opportunities for the group.
\n\u201cWith the addition of Sendhelper, PropertyGuru will become the one-stop destination for property seekers to not only find, finance and own their dream home but also manage and maintain it,\u201d said PropertyGuru.
\nIn the coming months, the group will work with Sendhelper to develop more tech solutions aimed at improving customers\u2019 experience, revealed PropertyGuru Managing Director for Data and Software Solutions Shyn Yee Ho-Strangas.
\n\u201cWe aim to be a force for innovative and game-changing solutions that guide people to make confident property decisions,\u201d she added.
\n\u00a0
\n2) First BTO project in Ulu Pandan to be launched in November
\nSource: HDB
\nThe Housing and Development Board (HDB) has revealed plans to launch around 3,000 BTO flats spread across three housing projects within the eastern half of Ulu Pandan.
\nIt noted that the first project \u2013 featuring 1,330 units of three-room and four-room flats \u2013 is set for launch in the November 2022 sales exercise.
\nLocated near Dover MRT station, the first Ulu Pandan project will be \u201cdesigned sensitively in response to its surroundings\u201d.
\nFor instance, the housing blocks fronting the Ulu Pandan Canal will be lower than the other blocks to maximise views of the canal. The project will also include roof gardens and sky terraces, in a bid to bring greenery closer to residents\u2019 doorstep.
\nA 1.2ha park will also be connected to the residential blocks, while an existing stream connecting Commonwealth Ave West as well as the Ulu Pandan Canal will be retained and enhanced.
\n\u00a0
\n3) Government to review housing policies to support Singaporeans starting a family<\/p>\n

To encourage young families to have more children, the Government will review policies on housing to \u201chelp first-time home buyers secure a flat quickly and affordably\u201d, said Deputy Prime Minister Lawrence Wong.
\nThe minister noted that the long wait times for BTO flats and rising resale home prices are among the top concerns of many young Singaporeans, reported CNA.
\nRelated article:\u00a0Rise of the 4-room Million-dollar HDB Flats in Singapore: Where Are They Found?
\n\u201cThis is partly due to the disruptions in the building programme brought about by COVID-19 and the pandemic in the two-and-a-half years. But HDB has been ramping up the supply of new flats and will be able to launch more flats to meet the demand soon,\u201d explained Wong.
\nHe also revealed plans to review leave measures to help parents better balance family and work commitments.
\nThe Government will also consider how to enhance the financial support schemes for parents, said Wong, who also serves as Finance Minister.
\n\u201cWe must make Singapore the best place for families \u2013 a society where young couples feel well-supported to start and raise a family, and can give their children the best possible start in life,\u201d he added.
\n\u00a0
\n4) HDB to pilot \u201cbeamless\u201d flats in upcoming Tengah BTO projects
\nSource: HDB
\nTwo upcoming BTO projects in Tengah \u2013 Garden Waterfront I and II @ Tengah \u2013 will offer \u201cbeamless\u201d flats when they are launched in November.
\nThis new flat design will provide residents more headroom and flexibility to configure the layout of their flats, said HDB.
\nThe move is part of HDB\u2019s initiative to pilot various innovations and technologies to raise productivity.
\nUnder the Construction Transformation Project (CTP), HDB aims to achieve a 25% improvement in productivity at Garden Waterfront I and II BTO projects.
\n\u201cWith the CTP, we hope to raise the bar further and find novel ways to construct quality homes with less manpower, faster and safer,\u201d said HDB CEO Tan Meng Dui.
\n\u201cThese efforts, which are geared towards achieving construction productivity improvements of 40% goal by 2030, will also enhance the resilience of our construction ecosystem, and support the ramp-up of HDB\u2019s building programme over the next few years and deliver HDB flats faster to our buyers,\u201d he added.
\nRelated article:\u00a0SG Green Plan: How Living in HDB Flats Will Look Like in 2030
\nIn recent years, there has been a trend where more homeowners and young couples\u00a0opt for an open-concept layout. The COVID-19 pandemic also highlighted the need for larger spaces, with homeowners designing their homes in a way that allows them\u00a0to use their space more flexibly. The \u201cbeamless\u201d flats initiative by HDB responds to this preference.
\n\u00a0
\n5) Meyer Park relaunched for en bloc sale at $420mil
\nSource: Google Maps
\nMeyer Park, a freehold seafront residential site within prime District 15, has been relaunched for collective sale with a reserve price of $420 million, revealed marketing agent Edmund Tie.
\nIncluding a Land Betterment Charge of around $90.9 million, the price works out to a land rate of about $1,764 per sq ft per plot ratio (psf ppr).
\nLocated at 81 and 83 Meyer Road, Meyer Park occupies an 8,981 sq m (96,672 sq ft) site that is zoned for \u201cResidential\u201d use under the 2019 Master Plan with a plot ratio of 2.8.
\n\u201cIncluding a 7% bonus floor area, the maximum allowable gross floor area works out to some 26,907 sq m\u00a0 (289,628 sq ft),\u201d noted Edmund Tie.
\nSwee Shou Fern, Edmund Tie\u2019s Head of Investment Advisory, shared that the site can be redeveloped into a \u201cmid-sized luxury high-rise condominium development accommodating up to 251 well-placed residences\u201d.
\nThe tender for Meyer Park closes on 2 November 2022.
\n\u00a0
\n6) Residential investment sales up 6.6% in Q3 2022
\nSingapore saw residential investment sales increase 6.6% quarter-on-quarter to $3.58 billion in the third quarter of 2022, marking the second consecutive quarterly growth for this year, reported Singapore Business Review citing Savills.
\nThe residential segment emerged as the top-performing sector as it accounted for 72% of the total investment sales value in Q3, up from 45% in the previous quarter.
\nNotably, private residential investment sales jumped 77.2% quarter-on-quarter to $2.48 billion, primarily due to the \u201clarger collective sales deals, healthy take-up of new launches and dwindling unsold stock spurring developers to replenish their land banks, leading them to look to collective sales sites\u201d.
\nThe largest residential collective sale deal year-to-date was registered during the quarter, which was the $890 million sale of Chuan Park to Kingsford Development and MCC Land.
\nMeanwhile, public residential investment sales declined 44.1% quarter-on-quarter to $1.09 billion, amid a smaller price quantum of sites awarded under the Government Land Sales Programme.
\n\u00a0
\n7) New home sales remain firm despite mortgage rate hike<\/p>\n

Despite rising mortgage rates, new home sales in Singapore remained steady in the third quarter of 2022, with preliminary figures showing that 2,194 new homes were transacted, similar to the 2,397 units shifted in Q2 2022, reported Singapore Business Review citing CBRE.
\nRelated article: Why Getting the Right Advice Is Important When Choosing a Home Loan and Where You Can Get It (2022)
\nSales during the quarter were bolstered by the successful launches of major mass-market projects such as Lentor Modern, Sky Eden@Bedok and AMO Residence which registered brisk sales even as average per sq ft (psf) prices for the OCR surpassed the $2,000 threshold.
\nPrivate home prices also continued to increase, rising 3.4% quarter-on-quarter in Q3 2022, albeit slower compared to the 3.5% hike seen in the previous quarter.
\nCBRE believes the \u201csharp acceleration in suburban home price growth contributed to a fresh round of cooling measures\u201d.
\n\u201cWith this, CBRE Research expects the mass market segment to cool and 2022 full-year new home sales to be 8,000 units, a 39% decline from 2021\u2019s 13,027 units. Prices could stabilise in Q4 2022, bringing 2022 full-year price growth to 8%, a moderation from the 10.6% increase in 2021,\u201d it said.
\n\u00a0
\n8) Executive condominium a golden ticket for HDB upgraders?<\/p>\n

More HDB upgraders are looking to executive condominiums as their golden ticket as nearly 300 units yielded $500,000 in resale profit as of 29 August 2022, reported The Business Times.
\nWith demand far exceeding supply, almost all the sampled 4,266 EC units netted about $300,000 in gross profits, showed a profit analysis by OrangeTee.
\nOf these, 294 generated a gross profit of at least $500,000 each. In 2021, the record gross profit for an EC unit was posted by a resale unit at CityLife@Tampine, which was transacted for $1.38 million.
\nOrangeTee also noted that the price gap between resale and new ECs has been narrowing, dropping to 14.4% from January to August 2022 from 28.6% in 2019.
\nThe median resale price of ECs has also been increasing faster than new ECs, rising 30.3% to $1,115 per sq ft (psf) during the first eight months of 2022, from 2019\u2019s $856 psf.
\nPrices of new ECs, on the other hand, rose 15.9% to $1,276 psf in the first eight months of 2022, from $1,101 psf in 2019.
\nMoreover, the supply of new ECs will remain limited. Apart from the newly launched North Gaia at Yishun Close, most ECs are completely sold or have only a handful of units left. Only two EC projects are slated to be launched by the end of this year \u2013 Copen Grand at Tengah Garden Walk; and Tenet, the new EC in Tampines Street 62. Subsequently, the next EC project launch may take place next year for a site at Bukit Batok West Avenue 8.
\n\u00a0
\n9) Strong auction interest was seen in Q3 2022
\nInterest for auction properties has been strong in the third quarter of 2022, with two properties receiving almost 50 cumulative bids, said Singapore Realtors Inc (SRI).
\nThe two properties located at 685 Hougang Street 61 and 50 Pasir Ris Avenue were eventually sold for $3.43 million and $3.6 million, respectively, during SRI\u2019s latest auction on 30 September 2022, which coincided with the implementation of the new cooling measures.
\nIn Q3 2022, a total of nine properties were successfully sold in auction, up from six in Q3 2021.
\n\u201cOf the nine properties sold at auction in Q3 this year, eight of which were sold when they made their debut during their respective first auction,\u201d said Mok Sze, SRI Auction\u2019s Managing Partner.
\nFor the first nine months of the year, the total value of successful auction sales stood at $70.187 million, a slight decline from the $70.243 million registered over the same period last year.
\nThe total number of properties sold, on the other hand, rose 19.23% to 31 from 26 over the same comparison period.
\nResidential properties accounted for the bulk of transactions, making up 64.5% of the total value sold.
\n\u00a0
\n10) Prime retail rents are up for the first time in four years
\nSingapore saw islandwide prime retail rents increase for the first time in four years, reported Singapore Business Review citing CBRE.
\nNotably, retail rents at Orchard Road, City Hall\/Marina Centre and Fringe areas embarked on a nascent recovery during the third quarter of 2022, on the back of increased return-to-office as well as recovering visitor arrivals.
\nAverage prime floor rent within Orchard Road, for instance, rose 0.7% quarter-on-quarter to $34.45 per sq ft (psf) per month, albeit it remains 10.9% below its pre-pandemic levels.
\nLooking ahead, CBRE expects retail rents to continue its recovery for the rest of the year and into 2023 amid improved shopper traffic and retail sales.
\nExcluding motor vehicles, retail sales for July and August grew 14.6% and 13.9% year-on-year respectively, thanks to higher sales within the wearing apparel and footwear industry.
\n\u00a0
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nCheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: cheryl@propertyguru.com.sg.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…PropertyGuru enters home services with Sendhelper acquisition, first BTO project in Ulu Pandan to be launched in November and more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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Source: Singapore Geographic The development plans for Ulu Pandan have been revised following feedback\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/Singapore-Geographic-Dover-Forest-12-1.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":121203,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/demand-for-bto-flats-in-dover-forest-expected-to-be-high\/","url_meta":{"origin":130780,"position":1},"title":"Demand for BTO flats in Dover Forest expected to be high","date":"August 2, 2021","format":false,"excerpt":"\r Demand for BTO flats in Dover Forest expected to be highPrices\u00a0for the BTO flats in Dover Forest is expected to be close to the launch price of the Bukit Merah BTO exercise in May 2021, with 4-room flats starting around $600,000 to $700,000. Photo: Google Street View The upcoming\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/08\/dover-forest-google-street-view.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":66468,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pine-grove-to-go-en-bloc-again\/","url_meta":{"origin":130780,"position":2},"title":"Pine Grove to go en bloc again","date":"September 15, 2017","format":false,"excerpt":"\r View of the 660-unit Pine Grove, a former HUDC estate near Ulu Pandan. (Photo: Google Maps) After two failed attempts in 2008 and 2011, owners at Pine Grove near Ulu Pandan are trying their luck again at a collective sale, this time at a price of $1.65 billion, reported\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":138359,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/grand-dunman-and-pinetree-hill-sell-over-50-and-38-of-units-over-launch-weekends-respectively-six-upcoming-bto-projects-in-mount-pleasant-and-more\/","url_meta":{"origin":130780,"position":3},"title":"Grand Dunman and Pinetree Hill Sell Over 50% and 38% of Units Over Launch Weekends, Respectively, Six Upcoming BTO Projects in Mount Pleasant, and More","date":"July 17, 2023","format":false,"excerpt":"\r Grand Dunman and Pinetree Hill Sell Over 50% and 38% of Units Over Launch Weekends, Respectively, Six Upcoming BTO Projects in Mount Pleasant, and More10 to 17 July 2023 Grand Dunman sold 550 or 54.6% of its 1,008 units during its launch over the weekend at an average price\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2023\/07\/grand-dunman-condo-singapore-cover-1.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":137163,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-reserve-residences-sells-71-of-units-at-an-average-of-2460-psf-may-2023-bto-exercise-launches-tomorrow-and-more\/","url_meta":{"origin":130780,"position":4},"title":"The Reserve Residences Sells 71% of Units at an Average of $2,460 PSF, May 2023 BTO Exercise Launches Tomorrow, and More","date":"May 29, 2023","format":false,"excerpt":"\r The Reserve Residences Sells 71% of Units at an Average of $2,460 PSF, May 2023 BTO Exercise Launches Tomorrow, and More23 to 29 May 2023 The Reserve Residences, Far East Organization, and Sino Group\u2019s joint development project in Upper Bukit Timah has sold 520 of its 732 or 71%\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2023\/05\/reserve-residences-condo-singapore-1.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":106919,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/can-you-buy-a-subsidised-bto-flat-for-the-3rd-time\/","url_meta":{"origin":130780,"position":5},"title":"Can You Buy A Subsidised BTO Flat For The 3rd Time?","date":"May 8, 2019","format":false,"excerpt":"\r According to MND, HDB received around 790 appeals to purchase a third subsidised flat over the past five years. 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Under current regulations, all eligible Singaporeans can acquire two subsidised\u00a0Build-to-Order (BTO) flats from the Housing and Development Board (HDB), with a resale levy\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/130780"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=130780"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/130780\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/130781"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=130780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=130780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=130780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}