Tag Archives: Reflections at Keppel Bay

Private property owners benefit from property rebound

Posted on 7 Jul 2012 | Comments Off on Private property owners benefit from property rebound

Since 2009, private homeowners in Singapore have greatly benefitted from the recovery in the property market.

A report by Square Foot Research revealed that owners received at least S$20.3 billion in gross profit since late 2009 based on caveats data. This explains the strong sales figure of S$60.1 billion recorded during the period, noted the report.

Square Foot added that actual figures could be a lot higher if gains from collective sales were factored into the research.

But overall profitability slid to S$2.7 billion in the first half 2012 compared to the S$3.2 billion and S$4 billion in 2H2011 and 1H2011 respectively.

At the same time, the percentage of unprofitable transactions in the secondary market rose to two percent in 1H2012, from one percent in 2H2011.

On the upside, average profitability per transaction in the secondary market hit a new high of S$522,056 in 1H2012, nearly double the S$288,991 in H22009.

The top five most profitable secondary market projects in the first six months of this year comprised the likes of Serangoon Garden Estate (most profitable with $59 million in profit realised), The Quintet, Frankel Estate, Seletar Hills Estate and Trevista.

On the flip side, the five most unprofitable projects in the same period included developments such as Reflections at Keppel Bay (the most unprofitable project, where a total loss of $7.4 million was realised), St Regis Residences, Latitude, CityVista Residences and Duchess Residences.

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Reflections: All but one unit sold at latest launch

Posted on 25 Mar 2010 | Comments Off on Reflections: All but one unit sold at latest launch

WATERFRONT apartments at Reflections at Keppel Bay are riding high on the property wave, with 710 of the 740 units launched at the 99-year leasehold project already sold.

Reflections at Keppel Bay: Scheduled for completion by the first half of 2012, the project comprises six towers and 11 villa apartment blocks, featuring a total of 1,129 waterfront apartments

At the latest launch at the weekend, 29 of 30 units released in tower block 2B – touted as the block with the best view – were bought. The average selling price of these units – two to four-bedroom apartments, one penthouse and a 13,300 sq ft super penthouse – was $2,200 per sq ft, with the highest price hitting $2,600 psf. Market sources say the lowest price was about $1700-1750 psf.

Keppel Corp owns 70 per cent of the development, while its property arm Keppel Land owns the other 30 per cent.

At the topping out ceremony for the first tower yesterday, KepLand’s Singapore residential chief executive Augustine Tan said Keppel is looking to release another 20 more units in tower 2B, and may launch between 100-200 apartments for the entire year, depending on demand.

Sale of the remaining units will be paced, he said. ‘We are not really rushing to sell them. We have another two years of construction to go.’

Reflections at Keppel Bay will be completed by the first half of 2012. It comprises six towers and 11 villa apartment blocks, featuring a total of 1,129 waterfront apartments along a 750-metre shore line.

Mr Tan said three other plots of land at Keppel Bay are in the design development stage. It will take at least a year or two before development plans for them can be firmed up, he said.

Source : Business Times – 25 Mar 2010

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Posted in Luxury Property, New Launches, Property Price

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