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Singapore Real Estate Market Review October 2009

real estate market review October 2009 Download this article

Introduction – Monthly Property Market Update for October 2009

SPECIAL ISSUE – PRIVATE HOME RENT REVIEW

 

This report features 175 out of the 283 condo/apartment projects that are featured in the URA Quarterly Private Home Rent Index. Only rental data from Non-Landed Residential Buildings with at Least 10 Rental Contracts Signed in a quarter is captured in the URA index.

 

Out of the 175 projects featured in this report, 133 projects enjoy better median rent in Q3 2009 compared with the previous quarter; 37 projects have lower median rent. The median rent at the remaining 8 projects remains unchanged.

 

District 9

 

Out of the 17 District 9 condo/apt projects that were featured in the URA quarterly rental data, 13 of them enjoyed better median rent in Q3 2009 compared with Q2 2009; FOUR projects have lower median rent compared with the previous quarter.

 

The highest rent collected in Q3 2009 for the whole of Singapore is $6.59 psf per month at The Pier at Robertson; while the lowest rent collected is $1.95 psf per month at Kim Sia Court.

 

District 10

Out of the 24 District 10 condo/apt projects that were featured in the URA quarterly rental data, 14 of them enjoyed better median rent in Q3 2009 compared with Q2 2009; 10 projects have lower median rent compared with the previous quarter.

 

The highest rent collected in D10 is $6.15 psf per month at Ardmore Park; while the lowest rent collected is $2.04 psf per month at Ridgewood condo.

 

District 15

Out of the 17 District 15 condo/apt projects that were featured in the URA quarterly rental data, 14 of them enjoyed better median rent in Q3 2009 compared with Q2 2009; TWO suffered rent drop and landlords of Neptune Court had little to cheer about with their median rent remaining unchanged.

 

The highest rent collected in D15 is $4.19 psf per month at The Sea View; while the lowest rent collected is $1.57 psf per month at Fernwood Terrace.

 

The Lowest Rent

Cashew Heights at District 23 now has the dubious reputation of having probably the lowest rent in Singapore at $1.35 psf per month for a condominium.

 

In conclusion, the drop in private home rent has stabilised in Q3 2009, though those which enjoy higher rents are only seeing marginal improvements. In the final analysis, how the massive 10,000 supply of new quality condo in 2010 will further impact the private home market, including private home rents, remain to be seen with the global economy chugging uphill.

 

The following compares the rents collected in two different time periods between the second (Q2) and third quarter (Q3) of 2009.

 

 

Project Name

 

25th Percentile

Median

75th Percentile

D1

The Sail@ Marina Bay

Q2 09

4.06

4.53

4.90

Q3 09

4.31

4.76

5.16

D1

Emerald Garden

Q2 09

3.10

3.29

3.62

Q3 09

3.03

3.27

3.57

D1

People’s Park Complex

Q2 09

2.66

3.18

3.34

Q3 09

2.52

2.80

3.48

D1

Riverwalk Apartment

Q2 09

2.47

3.10

3.38

Q3 09

2.71

3.10

3.47

D2

Icon

Q2 09

5.10

5.52

6.05

Q3 09

5.43

5.67

6.19

D2

International Plaza

Q2 09

2.76

2.94

3.31

Q3 09

2.49

3.07

3.27

D3

Meraprime

Q2 09

3.99

4.40

4.78

Q3 09

4.17

4.38

4.56

D3

The Anchorage

Q2 09

2.30

2.51

2.82

Q3 09

2.32

2.61

2.83

D3

Central Green condo

Q2 09

2.64

2.94

3.24

Q3 09

2.86

3.10

3.40

D3

Emerald Park

Q2 09

2.79

2.86

2.98

Q3 09

2.97

3.08

3.24

D3

Twin Regency

Q2 09

4.18

4.44

4.69

Q3 09

4.27

4.48

4.87

D3

Queens

Q2 09

3.16

3.52

3.89

Q3 09

3.10

3.44

3.79

D3

River Place

Q2 09

3.37

3.74

4.32

Q3 09

3.54

3.79

4.22

D3

Tanglin View

Q2 09

3.37

3.69

3.92

Q3 09

3.32

3.64

3.81

D4

Harbourlights

Q2 09

2.75

3.13

3.55

Q3 09

2.81

3.21

3.78

D4

The Berth by the Cove

Q2 09

3.90

4.19

4.57

Q3 09

4.12

4.84

5.25

D4

Caribbean@Keppel Bay

Q2 09

4.71

5.09

5.63

Q3 09

4.83

5.34

5.88

D5

Banyan Condo

Q2 09

1.94

2.23

2.64

Q3 09

2.02

2.25

2.43

D5

Blue Horizon

Q2 09

3.18

3.29

3.49

Q3 09

3.13

3.38

3.66

D5

Dover Parkview

Q2 09

2.67

2.80

2.99

Q3 09

2.67

2.89

3.10

D5

Heritage View

Q2 09

2.89

3.05

3.35

Q3 09

2.93

3.20

3.61

D5

Vista Park

Q2 09

2.12

2.26

2.93

Q3 09

2.28

2.63

2.91

D5

West Bay Condo

Q2 09

2.27

2.56

2.76

Q3 09

2.27

2.50

2.83

D5

Westcove Condo

Q2 09

2.05

2.30

2.48

Q3 09

2.24

2.37

2.74

D5

Faber Crest

Q2 09

2.09

2.54

2.76

Q3 09

2.32

2.56

2.78

D5

Normanton Park

Q2 09

2.08

2.17

2.26

Q3 09

2.17

2.31

2.53

D5

Park West

Q2 09

1.84

2.06

2.33

Q3 09

1.73

2.05

2.27

D5

Regent Park (off Clementi)

Q2 09

2.52

2.73

2.93

Q3 09

2.41

2.63

3.13

D7

The Bencoolen

Q2 09

4.02

4.23

5.61

Q3 09

3.82

4.00

4.31

D7

Burlington Square

Q2 09

3.26

3.48

3.77

Q3 09

3.38

3.57

3.72

D7

The Plaza

Q2 09

2.72

2.96

3.28

Q3 09

2.84

3.13

3.40

D7

Sunshine Plaza

Q2 09

3.52

3.94

4.17

Q3 09

3.30

3.59

4.31

D8

Citylights

Q2 09

3.68

4.20

4.61

Q3 09

3.78

4.30

4.79

D8

Kerrisdale

Q2 09

2.56

2.81

2.98

Q3 09

2.81

2.98

3.13

D9

8 @ Mount Sophia

Q2 09

4.53

4.85

5.23

Q3 09

4.97

5.54

5.64

D9

Aspen Heights

Q2 09

2.91

3.18

3.51

Q3 09

3.06

3.36

3.67

D9

Leonie Condotel

Q2 09

3.48

3.69

3.77

Q3 09

3.53

3.88

4.25

D9

Horizon Tower

Q2 09

2.22

2.47

2.67

Q3 09

2.30

2.45

2.69

D9

Cairnhill Crest

Q2 09

3.80

4.10

4.42

Q3 09

4.25

4.43

4.69

D9

The Regalia

Q2 09

2.64

2.83

3.10

Q3 09

2.95

3.06

3.10

D9

The Pier at Robertson

Q2 09

5.41

6.08

6.97

Q3 09

5.73

5.90

6.59

D9

Kim Sia Court

Q2 09

2.10

2.25

2.41

Q3 09

1.95

2.40

2.51

D9

Mirage Tower

Q2 09

3.02

3.26

4.03

Q3 09

2.90

3.51

4.29

D9

Tiara

Q2 09

2.97

3.30

3.58

Q3 09

3.04

3.34

3.57

D9

UE Square

Q2 09

2.79

3.07

3.44

Q3 09

2.88

3.20

3.74

D9

Richmond Park

Q2 09

3.87

4.04

4.85

Q3 09

3.65

3.93

4.37

D9

Robertson 100

Q2 09

4.30

4.52

4.89

Q3 09

4.53

4.86

5.22

D9

Scotts 28

Q2 09

3.91

4.46

5.26

Q3 09

4.03

4.09

4.58

D9

Visioncrest

Q2 09

5.22

5.61

6.31

Q3 09

5.51

5.97

6.25

D9

The Metz

Q2 09

5.36

5.61

6.40

Q3 09

5.18

5.81

6.14

D9

Yong An Park

Q2 09

2.92

3.59

3.86

Q3 09

3.20

3.46

3.78

D10

Allsworth Park

Q2 09

2.67

2.83

3.17

Q3 09

2.45

2.75

3.03

D10

Ardmore Park

Q2 09

4.88

5.35

5.78

Q3 09

5.24

5.78

6.15

D10

Astrid Meadows

Q2 09

2.67

3.10

3.74

Q3 09

3.13

3.64

3.99

D10

Belmond Green

Q2 09

3.35

3.95

4.43

Q3 09

3.52

3.84

4.41

D10

Cuscaden Residences

Q2 09

4.51

4.71

4.99

Q3 09

4.33

4.85

5.23

D10

Duchess Crest

Q2 09

2.88

3.33

3.48

Q3 09

2.71

3.32

3.90

D10

Four Seasons Park

Q2 09

4.19

4.42

4.78

Q3 09

4.42

4.60

4.78

D10

Glentrees

Q2 09

3.93

4.79

4.92

Q3 09

3.83

4.31

5.04

D10

Gallop Gables

Q2 09

2.77

3.10

3.38

Q3 09

3.46

3.80

4.22

D10

Melrose Park

Q2 09

3.79

4.09

4.17

Q3 09

3.79

3.98

4.25

D10

The LevelZ

Q2 09

3.97

4.37

4.65

Q3 09

3.67

4.07

4.43

D10

Palm Spring

Q2 09

2.73

2.85

3.01

Q3 09

2.59

2.82

3.17

D10

The Montana

Q2 09

3.13

3.50

4.05

Q3 09

3.39

3.84

4.19

D10

Regency Park

Q2 09

3.33

3.54

3.92

Q3 09

3.40

3.65

4.18

D10

Valley Park

Q2 09

2.82

3.04

3.24

Q3 09

2.90

3.12

3.42

D10

Spanish Village

Q2 09

2.06

2.38

3.11

Q3 09

2.31

2.43

3.09

D10

St Regis Residences

Q2 09

4.01

4.32

4.65

Q3 09

4.24

4.59

5.32

D10

Spring Grove

Q2 09

3.24

3.53

3.95

Q3 09

3.46

3.60

3.83

D10

The Wilby Residence

Q2 09

5.67

5.76

5.95

Q3 09

4.84

5.46

5.66

D10

Tanglin Park (Ridley Park)

Q2 09

3.58

3.99

4.38

Q3 09

3.72

4.15

4.41

D10

Tanglin Regency

Q2 09

3.11

3.23

3.78

Q3 09

2.98

3.16

3.40

D10

Sommerville Park

Q2 09

2.48

2.89

3.23

Q3 09

2.71

3.01

3.43

D10

Ridgewood

Q2 09

2.08

2.29

2.47

Q3 09

2.04

2.12

2.32

D10

The Tessarina (off Bt Timah)

Q2 09

2.83

3.02

3.31

Q3 09

3.13

3.18

3.57

D11

The Acadia

Q2 09

2.63

2.85

3.15

Q3 09

2.55

2.95

3.15

D11

Hillcrest Acadia

Q2 09

2.50

2.85

3.09

Q3 09

2.36

2.93

3.37

D11

Amaryllis Ville (Newton Road)

Q2 09

3.90

4.32

4.52

Q3 09

3.83

4.27

4.69

D11

Park Infinia at Wee Nam

Q2 09

3.48

4.27

4.79

Q3 09

3.90

4.22

4.60

D11

Newton Gem

Q2 09

3.44

3.58

3.77

Q3 09

3.12

3.49

3.56

D11

Residences @ Evelyn

Q2 09

4.02

4.59

4.75

Q3 09

4.65

5.37

5.78

D11

Thomson 800

Q2 09

2.18

2.46

2.62

Q3 09

2.22

2.40

2.67

D12

Oleander Towers

Q2 09

2.35

2.56

2.85

Q3 09

2.60

2.80

2.97

D12

Trellis Towers

Q2 09

2.32

2.54

2.97

Q3 09

2.55

2.63

3.33

D14

Astoria Park

 

Q2 09

2.34

2.43

2.61

Q3 09

2.39

2.51

2.81

D14

Central Grove (Geylang East)

Q2 09

2.30

2.36

2.49

Q3 09

2.36

2.50

2.63

D14

Simsville

Q2 09

2.06

2.18

2.35

Q3 09

2.18

2.35

2.49

D14

The Sunny Spring

Q2 09

2.01

2.21

2.39

Q3 09

2.09

2.17

2.35

D15

The Atria at Meyer

Q2 09

1.99

2.19

2.53

Q3 09

2.14

2.25

2.32

D15

The Waterside

Q2 09

2.28

2.37

2.63

Q3 09

2.23

2.34

2.40

D15

Water Place

Q2 09

2.55

2.86

3.21

Q3 09

2.90

3.10

3.52

D15

Costa Rhu

Q2 09

2.22

2.38

2.55

Q3 09

2.33

2.55

2.89

D15

Cote D’Azur

Q2 09

2.76

3.04

3.28

Q3 09

3.14

3.38

3.58

D15

The Sea View

Q2 09

3.34

3.67

4.19

Q3 09

3.55

3.75

4.11

D15

The Makena

Q2 09

2.11

2.20

2.53

Q3 09

2.23

2.44

2.71

D15

Mandarin Garden

Q2 09

2.15

2.59

2.91

Q3 09

2.22

2.61

3.12

D15

Eastern Lagoon

Q2 09

2.20

2.47

2.72

Q3 09

2.29

2.59

2.92

D15

Neptune Court

Q2 09

1.67

1.73

1.90

Q3 09

1.60

1.73

1.90

D15

Fernwood Terrace

Q2 09

1.57

1.93

2.05

Q3 09

1.67

1.96

2.14

D15

Parkshore

Q2 09

1.71

1.85

1.96

Q3 09

1.89

2.08

2.26

D15

Pebble Bay

Q2 09

2.54

2.78

3.06

Q3 09

2.73

2.90

3.22

D15

Butterworth 8

Q2 09

2.04

2.22

2.59

Q3 09

2.16

2.38

2.48

D15

Amber Park  

Q2 09

1.76

1.83

1.97

Q3 09

1.76

1.85

2.03

D15

Sanctuary Green

Q2 09

2.52

2.93

3.23

Q3 09

2.52

2.88

3.31

D15

Villa Marina (Siglap)

Q2 09

2.00

2.29

2.48

Q3 09

2.30

2.40

2.57

D16

Aquarius By The Park

Q2 09

2.08

2.21

2.41

Q3 09

2.26

2.50

2.65

D16

Bayshore Park

Q2 09

2.17

2.29

2.52

Q3 09

2.41

2.65

2.78

D16

The Bayshore

Q2 09

2.18

2.32

2.44

Q3 09

2.32

2.44

2.61

D16

The Clearwater

Q2 09

1.88

1.95

2.16

Q3 09

1.90

2.13

2.13

D16

Changi Court

Q2 09

1.80

2.05

2.06

Q3 09

1.98

2.06

2.27

D16

Changi Green

Q2 09

1.77

1.94

2.06

Q3 09

1.85

1.97

2.20

D16

The Summit

Q2 09

2.00

2.22

2.40

Q3 09

1.88

2.13

2.22

D16

Costa del Sol

Q2 09

2.52

2.79

3.14

Q3 09

2.68

2.96

3.27

D16

East Meadows

Q2 09

2.11

2.38

2.56

Q3 09

2.26

2.34

2.64

D16

Sunhaven

Q2 09

1.86

1.86

1.86

Q3 09

2.07

2.18

2.51

D17

Avila Gardens (Changi)

Q2 09

1.48

1.55

2.01

Q3 09

1.57

1.74

2.01

D17

Azalea Park Condo (Flora road)

Q2 09

1.55

1.62

1.85

Q3 09

1.56

1.62

1.82

D17

Ballota Park Condo (Mariam Way)

Q2 09

1.50

1.60

1.69

Q3 09

1.48

1.66

1.78

D17

Carissa Park Condo (Flora Drive)

Q2 09

1.76

1.88

2.04

Q3 09

1.78

1.92

2.16

D17

Edelweiss Park (Upp Changi)

Q2 09

1.81

2.07

2.35

Q3 09

2.02

2.19

2.58

D17

Estella Gardens (Flora Road)

Q2 09

1.70

1.84

2.08

Q3 09

1.67

1.87

2.41

D18

Savannah Park

Q2 09

2.29

2.41

2.56

Q3 09

2.34

2.47

2.58

D18

Eastpoint Green

Q2 09

2.09

2.27

2.37

Q3 09

2.11

2.30

2.40

D18

Melville Park

Q2 09

1.82

1.98

2.09

Q3 09

1.79

2.07

2.30

D19

Chiltern Park

Q2 09

1.76

1.92

2.00

Q3 09

1.89

1.97

2.22

D19

Chuan Park

Q2 09

1.62

1.79

1.93

Q3 09

1.57

1.79

2.03

D19

Compass Heights (Sengkang)

Q2 09

2.01

2.32

2.32

Q3 09

2.05

2.42

2.64

D19

Kovan Melody

Q2 09

2.48

2.77

3.06

Q3 09

2.68

2.98

3.25

D19

Regentville

Q2 09

1.79

1.95

2.04

Q3 09

2.08

2.17

2.26

D19

Rio Vista

Q2 09

1.93

1.98

2.15

Q3 09

1.89

1.99

2.20

D19

Sunglade

Q2 09

2.42

2.61

2.93

Q3 09

2.53

2.64

2.87

D20

Bishan 8

Q2 09

2.43

2.62

2.91

Q3 09

2.67

2.75

2.92

D20

The Gardens at Bishan

Q2 09

2.28

2.48

2.64

Q3 09

2.40

2.61

2.75

D20

Grandeur 8

Q2 09

2.32

2.52

2.68

Q3 09

2.45

2.59

2.71

D21

The Blossomvale

Q2 09

2.14

2.38

2.64

Q3 09

2.19

2.42

2.66

D21

Cavendish Park (Pine Grove)

Q2 09

2.28

2.38

2.61

Q3 09

2.48

2.69

2.94

D21

Clementi Park

Q2 09

1.66

1.94

2.06

Q3 09

1.84

2.02

2.12

D21

Gardenvista

Q2 09

3.10

3.32

3.51

Q3 09

3.07

3.22

3.39

D21

The Hillside

Q2 09

1.95

2.08

2.26

Q3 09

1.80

2.08

2.37

D21

Maplewoods

Q2 09

2.18

2.53

2.76

Q3 09

2.36

2.55

2.80

D21

Pandan Valley

Q2 09

1.74

2.01

2.32

Q3 09

1.68

1.98

2.20

D21

Signature Park (Toh Tuck Road)

Q2 09

1.75

1.90

2.01

Q3 09

1.79

1.93

2.20

D21

Southaven (2)

Q2 09

1.80

1.96

2.14

Q3 09

1.79

1.97

2.20

D21

Springdale

Q2 09

1.97

2.07

2.23

Q3 09

2.07

2.16

2.23

D21

Symphony HEIGHTS

Q2 09

1.81

2.05

2.31

Q3 09

1.94

2.13

2.37

D21

Hume Park 2

Q2 09

1.60

1.70

2.02

Q3 09

1.62

1.84

1.92

D21

Hume Park 1

Q2 09

1.52

1.74

1.81

Q3 09

1.62

1.86

1.96

D21

Parc Palais

Q2 09

1.75

1.86

2.06

Q3 09

1.80

1.94

2.06

D22

The Lakeshore

Q2 09

3.31

3.48

3.57

Q3 09

3.25

3.53

3.72

D22

The Mayfair

Q2 09

2.29

2.73

2.86

Q3 09

2.47

2.60

2.86

D22

Parc Oasis

Q2 09

1.97

2.20

2.52

Q3 09

2.04

2.28

2.44

D22

Parc Vista

Q2 09

2.01

2.22

2.42

Q3 09

2.13

2.36

2.42

D23

Cashew Heights Condo

Q2 09

1.53

1.63

1.81

Q3 09

1.35

1.53

1.71

D23

The Dairy Farm

Q2 09

1.59

1.74

1.99

Q3 09

1.72

1.84

1.90

D23

Glendale Park

Q2 09

1.64

1.81

1.92

Q3 09

1.83

1.92

2.01

D23

Guilin View

Q2 09

1.92

2.08

2.32

Q3 09

1.99

2.13

2.58

D23

Hazel Park Condo

Q2 09

1.63

1.73

1.86

Q3 09

1.63

1.79

2.00

D23

Hillbrooks

Q2 09

1.67

1.88

1.98

Q3 09

1.79

1.87

2.02

D23

Hillview Heights

Q2 09

1.67

1.83

1.98

Q3 09

1.79

1.93

2.09

D23

Maysprings

Q2 09

1.77

2.13

2.26

Q3 09

1.97

2.13

2.39

D23

Merawoods

Q2 09

1.56

1.79

1.89

Q3 09

1.77

1.82

1.86

D23

Northvale

Q2 09

1.78

1.89

2.08

Q3 09

1.89

2.01

2.32

D23

Palm Gardens

Q2 09

1.66

1.83

1.91

Q3 09

1.73

1.88

1.99

D23

Parkview Apt

Q2 09

1.88

2.02

2.09

Q3 09

2.00

2.05

2.14

D23

Regent Grove

Q2 09

1.77

1.95

2.02

Q3 09

1.95

2.03

2.12

D23

Regent Heights (Bt Batok)

Q2 09

1.81

1.96

2.07

Q3 09

1.96

2.05

2.20

D23

The Warren

Q2 09

2.17

2.27

2.42

Q3 09

2.28

2.30

2.41

D25

Casablanca

Q2 09

1.91

2.11

2.30

Q3 09

2.09

2.28

2.52

D25

Rosewood

Q2 09

1.97

2.09

2.32

Q3 09

2.11

2.28

2.37

D25

Woodgrove Condo

Q2 09

1.78

2.00

2.05

Q3 09

1.86

2.07

2.28

D26

Bullion Park

Q2 09

1.78

2.12

2.38

Q3 09

1.89

2.09

2.51

D26

Castle Green

Q2 09

2.08

2.26

2.27

Q3 09

2.08

2.37

2.50

D26

Seasons Park

Q2 09

1.84

2.00

2.06

Q3 09

1.97

2.01

2.16

D27

Orchid Park Condo (Yishun)

Q2 09

1.75

1.84

2.02

Q3 09

1.86

2.02

2.09

D27

Seletaris

Q2 09

1.59

1.70

1.78

Q3 09

1.54

1.65

1.72

 

Total projects compared = 175

 

Newly TOP projects

 

Postal District

Name

25th Percentile

Median

75th Percentile

3

DOMAIN 21

4.20

4.42

4.61

4

COAST AT SENTOSA COVE, THE

3.26

3.43

3.71

9

RIVERGATE

4.16

4.44

4.76

9

PARC EMILY

4.00

4.62

5.16

19

QUARTZ, THE

2.35

2.43

2.51

 

Buy, Sell, Rent, Invest, In Singapore

 

Mindy Yong 杨雯诗

CEA Registration Number : R021232Z

Tel: (+65) 91002985
Fax: (+65) 64021826

mindy@mindyyong.com

 

KF Property Network Pte Ltd
CEA Licence Number : L3008430D

 

Buy Sell Rent Contact

Mindy Yong 杨雯诗
mindy@mindyyong.com
Tel: (+65) 91002985

Fax: (+65) 64021826

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