This week in property: Highlights from Nov 19 to Nov 23

By Rachael Tan / EdgeProp | November 23, 2018 12:57 PM SGT
Property highlights of the week from Nov 19 to Nov 23:
1. HDB terrace at Jalan Bahagia sold for record price of nearly $1.2 million
HDB terrace houses at Jalan Bahagia
A HDB terrace in Jalan Bahagia was sold for nearly $1.2 million in 3Q2018, smashing the previous record to be the priciest HDB unit ever sold, according to a real estate trends report published by OrangeTee on Wednesday (Nov 21).
The 2,551 sq ft 3-room terrace near Whampoa hit a new record price of $1.185 million in September this year, smashing the previous $1.18 million record set by a 5-room Bishan DBSS unit sold in February 2017.
The third priciest unit on record was also transacted in 3Q2018, when a 5-room DBSS unit at Lorong 1A Toa Payoh changed hands for roughly $1.16 million in August.
2. ERA Realty increases agent numbers and property projects
ERA also announced an exclusive collaboration with Sembcorp Power, which is a subsidiary of listed Sembcorp Industries.
ERA Realty Network’s collaborations with CBRE Realty Associates and HSR International Realtors have added about 500 real estate salespersons to its agent count, which now stands at 6,542. This was one of the milestones highlighted by ERA during its 4Q2018 Career Advancement Day Conference on Nov 19.
Also, ERA has bagged more projects. As at this year, the ERA portfolio comprises 66 projects. There were 35 project appointments which accounted for more than 14,700 units this year. 28 projects are already in the pipeline for 2019.
3. Minbu Villa in Balestier may lower en bloc sale price to $129.1 mil
More than 60% of the owners (by share value and strata area) have signed an agreement to lower the price.
Minbu Villa, a freehold development in the Balestier area, is up for collective sale again, after an unsuccessful attempt in March. The reserve price may be lowered from the initial $145.8 million ($1,355 psf per plot ratio), to $129.1 million ($1,200 psf ppr). Savills Singapore is brokering the sale.
4. Prices of new homes across all segments still at historical highs, says OrangeTee
The number of new home sales (completed and uncompleted) in the RCR in 3Q2018 surged to 1,765 units.
Despite the slew of new property cooling measures, the private residential sector remained resilient in the 3Q2018, according to Christine Sun, head of research & consultancy at OrangeTee & Tie.
A few new project launches continued to see healthy buying interest during the quarter after the property cooling measures imposed on July 6, says OrangeTee. In the quarter, according to URA data, overall new home sales (excluding executive condos) rose 27% q-o-q to 3,012 units. The spike in new sales could be attributed to many projects being launched in the city-fringe, or Rest of Central Region (RCR), as well as the more than 1,000 units sold on the eve of the implementation of the cooling measures, adds Sun.