ST Article: New Jurong leisure centre gets go-ahead
ST article 23 January 2010
New Jurong leisure centre gets go-ahead (Previous Jurong Entertainment Centre site)
[Tiffany's Note: The area encompassing Jurong MRT, Jurong Entertainment Centre, and the surrounding shops has been looking especially dated, especially with Jurong Point's spanking new extension and air-conditioned bus interchange. As a major MRT station, we can expect heavy human traffic & therefore a healthy retail crowd in this area. Together with the Jurong Hospital and the Jurong Lake District developments, there is much potential for prices in the Jurong East area. However, owners must be prepared to bear with the inconvenience of construction as future developments will not be included in valuation reports until they are ready.]
Excerpt: 'A LAVISH new entertainment complex for Jurong has received the green light after being put on the back burner during the financial crisis.
The manager of CapitaMall Trust (CMT) told a results briefing yesterday that the facility - including its Olympic- sized ice-skating rink - should be ready in early 2012. Demolition of the old Jurong Entertainment Centre will be completed soon.
The new centre has been designed by Benoy Architects, the group that conjured up the Ion Orchard look.
Besides the ice-skating rink, which will be visible from the surrounding eateries, the centre will have a rooftop garden plaza and cinema alongside retail outlets.
Mr Simon Ho, chief executive of CapitaMall Trust Management Limited, which manages CMT, said the centre will have five storeys and three basement levels. There will be a 24-hour linkway to the Jurong East MRT station.
He said that plans for the centre were reactivated after a deferment last year due to the economic crisis and sky-high construction costs. But he said the retail sector is looking up again.
The retail sales index - an industry measure - was up 4 per cent last November from a year earlier. This was the first increase in 13 months.
CMT's positive fourth-quarter results also increased confidence about tackling the Jurong centre.
It will have retail floor space of 204,153 sq ft with average rent per sq ft estimated at $12.26, a 123 per cent increase from the $5.49 psf level at the old centre. The project is expected to cost $200.3 million and generate 8 per cent in return on investment.'
ST Article: HDB's flat designs over the years
Straits Times article 30 January 2010
'Slab-like blocks to condo-style flats'
[Tiffany's Note: I find it fascinating to observe the original designs that HDB innovated to relocate people staying in kampungs, and subsequently to today's times when we have solved the immediate housing problem and can afford to be more creative & aesthetic in HDB block designs. This is a useful guide which I will show to my foreign buyers as well. It will help them to understand the history & value of the property they are investing in.]
Excerpt: An ongoing exhibition at HDB Hub traces the board's history and milestones. Here is a quick look at how its flat designs have changed in the last 50 years.
Early flats in Queenstown
When the HDB was set up in 1960, its task was to solve the nation's housing crisis. Homes had to be built fast. The first flats were built in Queenstown.
The slab block look
Flats then were built in slab blocks, with a central access corridor on each floor. This was the most economical way of arranging the flats.
Variety in block design
Over the years, the designs of blocks changed to include more variety in their appearance. This included varying the heights, colours, columns, facade detailing and roof treatments.
First Design and Build flats
In 1991, HDB introduced the Design and Build scheme, which involved the private sector in design and construction. The first flats built under this scheme were 620 units in Tampines Street 45. Built by architecture firm P&T Group, the flats were spread across three linked octagonal blocks.
Condo-style HDB flats
In 2005, HDB launched the Design, Build and Sell Scheme, allowing the private sector to design, build and sell HDB flats. The result is The Premiere @ Tampines - its first condo-style flats. They came with glass-panelled private balconies, which were not found in normal HDB flats.
Pinnacle@Duxton
HDB's first 50-storey development, which was completed late last year. It consists of seven blocks linked by skybridges on the 26th and 50th storeys. The blocks are designed in a hook shape, so no resident looks into his neighbours' flats.
Treelodge@Punggol
Launched in 2007, this is HDB's first eco-precinct and will be ready by the end of the year. The flats will have green features such as solar-powered corridor lighting and common areas that will be cleaned using recycled rainwater, as well as vertical greening, where plants are grown on the higher floors.
First waterfront public housing project
These flats in Punggol will line the 4.2km Punggol Waterway. Its unique design are its blocks of flats that will 'step down' towards the water like terraces and have solar panels on their rooftops to supply power to common areas.
SkyTerrace@Dawson and SkyVille@Dawson
Launched for sale last month and scheduled to be completed in 2015, these are two towers of flats that are more than 40 storeys high. Designed by award-winning firms SCDA and Woha respectively, these boast more elaborate facades and sky gardens.
TNP article: HDB Living over Condo Living
The New Paper article 1st February 2010
'We chose HDB over condo for a simpler life'
[Tiffany's Note: The trend now is towards larger apartments. As HDB is currently building mostly 2-4 Room flats, 5 Room, Executive Apartments & Executive Maisonettes are getting very popular. They are mostly Singaporean buyers, and indeed, some are those who used to stay in private property and find no point in paying hefty maintenance fees for facilities they rarely use. In fact most of the buyers for Executive flats are looking for a bigger property & a quiet environment to stay in. Most of them have dogs and will be on the lookout for nature parks nearby.]
Excerpt: 'But Mrs Leung Chiu Mei, 48, and her husband, 51, have made the unusual move of giving up their condominium in Clementi for an HDB flat in Bukit Batok.
She said, "I want other people to know that there are others like myself who feel like kings living in HDB flats in cheaper locations."
The couple, who have two children, claimed they could have easily bought a house on Sixth Avenue but decided to downgrade instead.
After selling their 2,000 sq ft condo unit for a profit of more than half a million dollars in 2007, the family moved to a 1,570 sq ft HDB maisonette, which they bought for $353,000. The condo unit had cost them $1.2 million when they bought it in 1995.
[Tiffany's Note: It is worthwhile to note that EMs in Bukit Batok are now fetching a price of $450K to $550K. Owners who bought in 2007 have made a healthy profit so far.]
Mrs Leung said, "There's more to life than upgrading from one home to another. People can keep chasing after material wealth and fame, but they shouldn't put down other people just because they are happy in their four-room flat."
Mrs Leung dresses simply and shops at a wet market that's a seven-minute walk away. She drives a Nissan Sunny she shares with her husband. They had paid around $50,000 for it in 2006.
The couple, who both hold executive positions in multi-national companies, have a combined income of more than $20,000 a month and have two other properties.
Mrs Leung bought a flat for her sister, who is educationally subnormal and unemployed. The couple also own a private apartment in District 9, near the Istana. They also have investments in stocks, insurance products and cash in fixed deposits.
Explaining her choice, she said: "Condo living is not that great."
Mrs Leung lived in the condominium with her family for eight years. Before that, they were living in a three-room HDB flat they bought for less than $100,000, "even though we were earning a decent salary".
They had bought the condominium in Clementi as an investment, and had rented it out for the first four years.
But after the rental market tanked, they decided to sell their flat and live in the condominium rather than leave it vacant.
Mrs Leung said, "We were not pursuing the upgrading dream when we moved to the condominium. We have always been very frugal. Our expenditure is only 10 to 15 per cent of our income."
Although they were living in a condo, they were not spared from inconsiderate behaviour from their neighbours, said Mrs Leung.
One of her neighbours used to sweep dirty water into her home almost every day after they washed their yard.
It was also inconvenient for her two sons to travel to school. Now, the boys have a direct bus to their school, which is on Bukit Timah Road, from their flat.
Her sons, aged 15 and 14, said they also prefer their current home as there is a coffee shop downstairs, making it easy for them to grab breakfast on their way to school.
And of course, the move has left her with extra money in the bank.
She said, "When we downsize our aspirations and expectations, we can live with more freedom instead of worrying about how to up our living standards or being encumbered by bills."
CEO of Re/Max Empire Property Group David Cheang said cases of people downgrading from private property to HDB flats are rare.
Most do so because of financial difficulties.
PropNex chief executive Mohamed Ismail said it would make sense for people who have lived in a private property to downgrade if their property has appreciated in value over the last two years.
Others who downgrade do so because they prefer a lifestyle change.
He said: "Some people are paying high maintenance fees for a swimming pool and clubhouse that they are not using.
"HDB flats are still value for money, as the amount people pay per sq ft is still very low compared with private property."'
What does the Jurong Lake District really means for Bukit Batok Sellers or Buyers?
I find that a surprisingly large number of my clients are unsure about what the Jurong Lake District really means for them.
Sellers may go, "Yes, it was featured in the news... But it doesn't really affect us right? Since we're going to sell right now?"
Buyers typically say, "Yes, but this is future development. The government hasn't even built it yet."
When I sell a unit, I stress on future investment. When you buy a house, you do not just buy the interior of the flat, you also buy the facing, the location, the proximity to amenities, and - I'm not exaggerating - the future of Singapore.
This is especially obvious for PR buyers. I have had PR buyers share with me that they believe Singapore is a safe and good place to raise their kids, that they believe Singapore flat prices will surely rise because of the limited supply.
I think it's safe to say that when buyers choose a location over so many other choices, they already believe in "future investment" - that the government will pump in money to upgrade the estate, to build hospitals and other infrastructures, to build future MRTs, etc. All of us are buying into the hope that the location we have chosen will prosper.
No one would make an investment in a location that is stagnant, or worse, will deteriorate over the years, nor does anyone wish to make a loss. We are all optimistic that the value of Singapore's flats will increase, slowly but steadily in the future.
Another point is, buyers who look for own stay generally stay for at least 8 to 10 years before they start thinking of changing their environment, be it upgrading, downgrading, or even moving to another location altogether.
All of us who have moved houses before know what a hassle it is to go for constant viewings, the agonising wait for HDB 1st and 2nd Appointments, the headache of renovations, and the "joys" of packing and then unpacking all the stuff we have accumulated over the years! I reckon it's safe to say that no person would desire to repeat the whole process on a frequent basis.
Of course, this does not apply to buyers who are looking for investment by buying a unit to rent out.
Generally, most buyers with foresight will be looking at long term investment, at least 5-10 years. As the building progress develops on the Jurong Lake District project and it is featured more frequently in local news, the prices in the surrounding area will rise. I cannot stress enough to potential buyers who are cynical about this "future investment" - Buy now or regret later, please don't miss the boat!
I also wonder, will Jurong become a mini-Marina Bay? Will buyers be priced out in the Jurong prime area in future?
The surrounding towns like Bukit Batok, Bukit Panjang, and Choa Chu Kang are also worth notice in my opinion. If one day buyers or tenants are priced out of the Jurong Lake District, they may jolly well look for more affordable alternatives nearby.
As such, even if you as a homeowner does not intend to sell at this point in time, you should be in a prime position to take advantage of the "ripple" effect in future.
Sellers may go, "Yes, it was featured in the news... But it doesn't really affect us right? Since we're going to sell right now?"
Buyers typically say, "Yes, but this is future development. The government hasn't even built it yet."
When I sell a unit, I stress on future investment. When you buy a house, you do not just buy the interior of the flat, you also buy the facing, the location, the proximity to amenities, and - I'm not exaggerating - the future of Singapore.
This is especially obvious for PR buyers. I have had PR buyers share with me that they believe Singapore is a safe and good place to raise their kids, that they believe Singapore flat prices will surely rise because of the limited supply.
I think it's safe to say that when buyers choose a location over so many other choices, they already believe in "future investment" - that the government will pump in money to upgrade the estate, to build hospitals and other infrastructures, to build future MRTs, etc. All of us are buying into the hope that the location we have chosen will prosper.
No one would make an investment in a location that is stagnant, or worse, will deteriorate over the years, nor does anyone wish to make a loss. We are all optimistic that the value of Singapore's flats will increase, slowly but steadily in the future.
Another point is, buyers who look for own stay generally stay for at least 8 to 10 years before they start thinking of changing their environment, be it upgrading, downgrading, or even moving to another location altogether.
All of us who have moved houses before know what a hassle it is to go for constant viewings, the agonising wait for HDB 1st and 2nd Appointments, the headache of renovations, and the "joys" of packing and then unpacking all the stuff we have accumulated over the years! I reckon it's safe to say that no person would desire to repeat the whole process on a frequent basis.
Of course, this does not apply to buyers who are looking for investment by buying a unit to rent out.
Generally, most buyers with foresight will be looking at long term investment, at least 5-10 years. As the building progress develops on the Jurong Lake District project and it is featured more frequently in local news, the prices in the surrounding area will rise. I cannot stress enough to potential buyers who are cynical about this "future investment" - Buy now or regret later, please don't miss the boat!
I also wonder, will Jurong become a mini-Marina Bay? Will buyers be priced out in the Jurong prime area in future?
The surrounding towns like Bukit Batok, Bukit Panjang, and Choa Chu Kang are also worth notice in my opinion. If one day buyers or tenants are priced out of the Jurong Lake District, they may jolly well look for more affordable alternatives nearby.
As such, even if you as a homeowner does not intend to sell at this point in time, you should be in a prime position to take advantage of the "ripple" effect in future.
URA Master Plan 2008 for Jurong Lake District
Source: URA's Master Plan 2008 for Jurong - http://www.ura.gov.sg/MP2008/Jurong
Get ready for transformation
Jurong East, together with Jurong Lake, offers an exciting opportunity to be developed into the biggest lakeside destination for business and leisure in the West Region. The two areas will be known as the new Jurong Lake District.
Centrally located in the West Region, which houses a quarter of Singapore's population of 4.2 million, the 360 ha Jurong Lake District is well connected to the CBD (about 20 minutes), Tuas Second Link and rest of the island.
It also has ready access to a large talent and labour pool. The nearby Jurong and Tuas Industrial Estates support global businesses ranging from biotechnology to pharmaceutical and chemical industries. There are more than 3,000 MNCs and SMEs operating in these areas.
Jurong Lake District will be developed through four key strategies:
• Develop Jurong East into a major commercial hub
• Lakeside - Create unique new leisure destinations
• Enhance connectivity between Jurong Gateway and Lakeside and bring the lake closer to the centre
• Retain and introduce more greenery to enhance green experience
Spread over 290 ha, residents and visitors can look forward to new parks, improved promenades, more water activities and numerous attractions blended in with the scenic lakeside setting:
Lakeside - New waterfront playground with more green and thrills by the lake
• Enjoy more of the beautiful lake with a new park at the western edge of Jurong Lake, near Lakeside MRT station, and an enhanced waterfront promenade
• Treat yourself to fun water activities like kayaking and dragon boating in the lake
• Chill out by the lake - shop, wine and dine in a new charming lakeside village where Lakeside and Jurong Gateway precincts meet
• Get set for new attractions and fun around the lake - for example, explore the new world class Science Centre to be located next to Chinese Garden MRT Station
Jurong Gateway - New business location by the lake
Jurong Gateway will become a key commercial hub in the West Region. Identified as one of three regional centres under the Concept Plan, it is part of URA's decentralisation strategy to provide jobs closer to homes, and business hubs outside the city centre.
Centred around Jurong East MRT station, and right next to the established International Business Park, it offers an attractive business location for company headquarters, business services and science and technology sectors. Here, you will find an excellent mix of office, retail, residential, hotel, entertainment and F&B uses.
When developed in 10 to 15 years, the Jurong Gateway will provide at least:
- 500,000 sqm of office space
- 250,000 sqm of retail and entertainment space
- 2,800 hotel rooms
- 1,000 new homes
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About Me
I was born in 1982. I do not have a degree, but I am very pleased with this job that allows me to earn more than a degree holder and excel at what I'm good at.
I used to work as a sales assistant in Kinokuniya for $1K a month. I was irritable and grouchy, because I was underpaid for a job that did not value me. Needless to say, I was perpetually in debt.
Subconsciously, I was frustrated. I felt that I deserved more, be it pay or recognition, but I just didn't get what I deserved. Attempts to improve the system were seen by colleagues as encroaching on their territory and challenging their abilities.
That was when I realised I could never be an employee. There is simply no incentive to work hard or to take pride in the job. I did not want to just wait for 5pm everyday, and month end to collect pay.
My life really started in 2006 when I joined real estate. After I closed one deal that was more than one and a half years of my Kino salary, I have never looked back.
It empowered me to afford a better lifestyle, bringing my parents to tour Spain, Cambodia, Tibet, etc. I feel that travel broadens our horizons, and allows me to be more appreciative of what we have in Singapore.
My other hobby in photography trains me to take a step back and look at the bigger perspective, as well as notice little details.
Earning enough in proportion to the effort and hard work I put into every deal, this also cultivated the confidence I have in myself and my capabilities. It also motivates me to be creative and constantly improve my service.
I strongly feel that more transparency is needed in the real estate industry and that the way forward is to have professional and ethical agents who take pride in our jobs and take on a consulting role. Our job is to provide our owners with the information they need to make an informed decision regarding their assets.
Now, when I get creative and try to improve on my service, I see instant rewards in terms of commissions and my customers' direct praise. I prize job satisfaction more than monetary gains - on occasion, I have advised customers not to sell if it is not to their benefit. I am out for long-term business, not hit-and-run.
After 4 years in this industry, I am looking towards recruitment as a way to share my knowledge and cultivate trustworthy and responsible agents I can partner with.
I believe sincerely that if you have a passion and you are good at it, the money will come accordingly.
Is your current job paying you proportionately to your efforts or in terms of job satisfaction?
I used to work as a sales assistant in Kinokuniya for $1K a month. I was irritable and grouchy, because I was underpaid for a job that did not value me. Needless to say, I was perpetually in debt.
Subconsciously, I was frustrated. I felt that I deserved more, be it pay or recognition, but I just didn't get what I deserved. Attempts to improve the system were seen by colleagues as encroaching on their territory and challenging their abilities.
That was when I realised I could never be an employee. There is simply no incentive to work hard or to take pride in the job. I did not want to just wait for 5pm everyday, and month end to collect pay.
My life really started in 2006 when I joined real estate. After I closed one deal that was more than one and a half years of my Kino salary, I have never looked back.
It empowered me to afford a better lifestyle, bringing my parents to tour Spain, Cambodia, Tibet, etc. I feel that travel broadens our horizons, and allows me to be more appreciative of what we have in Singapore.
My other hobby in photography trains me to take a step back and look at the bigger perspective, as well as notice little details.
Earning enough in proportion to the effort and hard work I put into every deal, this also cultivated the confidence I have in myself and my capabilities. It also motivates me to be creative and constantly improve my service.
I strongly feel that more transparency is needed in the real estate industry and that the way forward is to have professional and ethical agents who take pride in our jobs and take on a consulting role. Our job is to provide our owners with the information they need to make an informed decision regarding their assets.
Now, when I get creative and try to improve on my service, I see instant rewards in terms of commissions and my customers' direct praise. I prize job satisfaction more than monetary gains - on occasion, I have advised customers not to sell if it is not to their benefit. I am out for long-term business, not hit-and-run.
After 4 years in this industry, I am looking towards recruitment as a way to share my knowledge and cultivate trustworthy and responsible agents I can partner with.
I believe sincerely that if you have a passion and you are good at it, the money will come accordingly.
Is your current job paying you proportionately to your efforts or in terms of job satisfaction?
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