How Singapore's Core Central Region Remains Resilient

1/15/2022 9:00:00 PM

Singapore's Core Central Region has continued to maintain its lustre despite the turbulent economy.

Singapore's Core Central Region has continued to maintain its lustre despite the turbulent economy.

An expert digs into the facts on why the Core Central Region in Singapore's residential market is relatively unscathed by the pandemic.

Besides the traditional prime districts, homes in Singapore’s Downtown Core are also highly coveted due to their strategic location at the heart of the financial district and characterised by city-living. Iconic residential projects that distinguish the Downtown Core include the flagship mixed-use development Wallich Residences, which sits at the pinnacle of Singapore’s tallest building and offers luxury units from a panoramic 180m.

Wealth Magnetism — A Boom Time for Singapore Realty MarketResilience in the CCRUrban Redevelopment Authority of Singapore (URA)New launches of luxury residential projects in the Core Central Region propped up prices and activity even as containment measures disrupted real estate activity. The launch of the residential project The M in Singapore’s Downtown Core led to a visible spike in transaction volumes in February 2020, as 354 units were transacted in the month alone at an average price of SGD 2,442 psf (approx. USD 1,813).

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Earthquake, Magnitude 5.1 - HINDU KUSH REGION, AFGHANISTAN - 2022 January 14, 16:13:03 UTCMagnitude: Mw 5.1, Region: HINDU KUSH REGION, AFGHANISTAN, Date time: 2022-01-14 16:13:03.3 UTC, Location: 36.54 N ; 71.47 E, Depth: 104 km.

Earthquake, Magnitude 5.1 - HINDU KUSH REGION, AFGHANISTAN - 2022 January 14, 16:13:03 UTCMagnitude: Mw 5.1, Region: HINDU KUSH REGION, AFGHANISTAN, Date time: 2022-01-14 16:13:03.3 UTC, Location: 36.54 N ; 71.47 E, Depth: 104 km.

Jackie Chan , who both own units in The Orchard Residences.Geothermal power has the advantage of being more stable than weather-dependent renewables, but as an expensive and not yet mature technology, has not seen the explosive growth enjoyed by wind an solar power in Europe.A super-Earth exoplanet's cross-section, revealing the mantle and core.T&C Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors.

All eight resale transactions in the opulent development in 2020 surpassed the SGD 5.5 million mark (approx. Register now for FREE unlimited access to Reuters. USD 4. That’s good news for interstellar explorers–because a molten core is probably required for life to develop on a planet.18 million), at average prices above SGD 2,500 per square foot (psf) (approx. At the surface, the water's heat is captured and transferred to the district heating network, it said. USD 1,889). FX PUBLICATIONS IS A MEMBER OF NFA AND IS SUBJECT TO NFA'S REGULATORY OVERSIGHT AND EXAMINATIONS.

Luxury living in Singapore now includes city living and island living.P. To answer this question, researchers don’t normally start with thinking about a planet’s core. Besides the traditional prime districts, homes in Singapore’s Downtown Core are also highly coveted due to their strategic location at the heart of the financial district and characterised by city-living. Iconic residential projects that distinguish the Downtown Core include the flagship mixed-use development Wallich Residences, which sits at the pinnacle of Singapore’s tallest building and offers luxury units from a panoramic 180m.P. Record high selling prices of its five palatial penthouse units have thrust the development into the spotlight. They explored a planet’s ability to form a magnetosphere—a magnetic field that protects it from solar radiation, like the one around Earth does for us—as a window into habitability, Kraus says. Aside from the well-known sale of the sole 21,108 square feet (sq ft) super penthouse to James Dyson at a whopping SGD 73.CO) . First Name: Please fill out this field.

8 million (approx. USD 54. "We see great opportunities for Innargi to develop green district heating for Aarhus and millions of homes in other cities in Europe," Chief Executive of A. Earth has a core composed mostly of iron, split into a solid inner core and a liquid outer core.8 million) and the subsequent resale to Indonesia-born tycoon Leo Koguan for SGD 62 million (approx. USD 46 million), a Taiwanese homebuyer forked out SGD 17. Moller Holding Robert M.5 million (approx. This is the first experiment to use iron under pressures that exceed those in Earth’s core, Kraus says. Please enter valid email.

USD 13 million) in January 2020 for a 3,509 sq ft penthouse on the 61st floor, translating to an astronomical SGD 4,987 psf (approx. The capital expenditure for the plant will be 1. USD 3,703). READ MORE: Wealth Magnetism — A Boom Time for Singapore Realty Market For individuals that prefer a lifestyle away from the hustle and bustle of the city, homes in Sentosa Cove provide the allure of island and resort living in a metropolis and are known as the only place where foreigners can enjoy the privilege of owning landed homes.17 million), an Innargi spokesperson told Reuters. Layers of beryllium, a metal element, and some filters formed the outside of a super-thin iron “sandwich” while a piece of transparent lithium fluoride made up the other half, Kraus says. The land is scarce in the 117-hectare island of mostly reclaimed land, and the enclave remains the exclusive home to around 2,000 or more residential units — 80 per cent of which are condominiums. While prices and activity have since tempered down in the resort island, there is still life yet with several high-value resale transactions materialising. Less than 1% of Denmark's district heating comes from geothermal energy.

A case in point is the Marina Collection, where six condominium units were sold in 2020, out of which four were above SGD 6 million (approx. [Related: Saturn has a slushy core and rings that wiggle ] This process emulates the conditions that a section of hot iron would experience as it descends through a planet’s molten core. USD 4.4887 Danish crowns) Register now for FREE unlimited access to Reuters.45 million). Resilience in the CCR Buyers’ interest in luxury homes in the Core Central Region has historically been strong and this location seems poised to ride out the storm even as Singapore faces the uncertainties of a crisis. Sign up. The process only produced “a couple of data points,” he says, but “these kinds of experiments are very valuable. In the Core Central Region, non-landed transaction volumes in 2020 amounted to 2,998 units, exceeding the 2,695 sales (excluding Executive Condominiums – ECs) recorded in 2019 (based on data available as of 1 February 2020).

While total sales volumes saw a dip from March to May 2020 corresponding to the hike in the number of COVID-19 cases, the number of transactions in the Core Central Region bounced back from June (Exhibit 1 below). Prices of prime properties in Singapore fell marginally in 2020. For exoplanets, that means the larger they get, the longer it will take their cores to solidify. The index by the Urban Redevelopment Authority of Singapore (URA) , which tracks price movements of non-landed properties in the Core Central Region segment, showed a surprising uptick of 3.2 per cent quarter-on-quarter (q-o-q) in Q4 2020, and overall in 2020, prices in the Core Central Region declined by a slight 0.4 per cent even though the year was rocked by pandemic-driven uncertainty. “While that may sound sort of intuitive,” it wasn’t a given with all the different factors, Kraus says.

Source: Knight Frank Singapore New launches of luxury residential projects in the Core Central Region propped up prices and activity even as containment measures disrupted real estate activity. The launch of the residential project The M in Singapore’s Downtown Core led to a visible spike in transaction volumes in February 2020, as 354 units were transacted in the month alone at an average price of SGD 2,442 psf (approx. USD 1,813). One issue with extrapolating these results to exoplanets is that those super-Earths can contain elements other than iron in their core, which would change their melting temperature by an unknown amount, Driscoll says. The traditional prime districts of 9, 10 and 11 also remained the most popular and resilient enclave during the crisis. Transaction volumes in these districts recovered steadily after the circuit breaker with more than 200 units changing hands each month in Q3 2020, exceeding the monthly average of some 190 units in 2019.

Launches in 2020 such as 19 Nassim, Dalvey Haus and The Avenir transacted at average unit prices upwards of SGD 3,000 psf (approx. Venus, Driscoll says, is the go-to example of this disconnect. USD 2,227). READ MORE: Booming During The Pandemic — Singapore Real Estate Business Source: Knight Frank While interest in luxury residences by foreigners was dampened due to the travel restrictions that limited actual physical viewings, the proportion of total units purchased by foreign buyers for 2020 nevertheless managed to hover around the 10 per cent mark. Nevertheless, as prices in the Core Central Region have not increased in a substantial manner in 2020, foreign homebuyers could possibly increase in the region once the pandemic is in retreat and travel restrictions ease. But these characteristics are difficult to measure, even on Earth–scientists have only succeeded in measuring the flow of heat through Earth’s core in the last decade. A stable haven The seemingly indomitable stability of the Core Central Region market might seem largely incongruous with the ongoing pandemic.

One reason could be that COVID-19 fears have emphasised the strong and enduring economic fundamentals governing Singapore, a break in the clouds that pushed some of the world’s mega-rich to set up here. Singapore has also been cementing its relevance as a wealth management hub and the number of family offices in the country has grown five-fold between 2017 and 2019. He studied physics at Oregon State University, then got a master’s at NYU’s Science Health and Environmental Reporting Program (SHERP). The pool of HNWIs that this attracts is ideal for the luxury residential market. READ MORE: The Lion City is Becoming a Sanctuary for the Super Rich Singapore was also ranked as the most liveable city for expatriates from other Asian markets for the 15th year running in 2020, for its excellent infrastructure and amenities, low crime rate and a large expatriate community, which provides access to a social network . Once Singapore is able to progressively open green lanes of travel to selected countries and mass COVID-19 vaccinations are deployed, the sale of luxury high-end residential units is expected to improve in 2021..

And despite the persistent looming pall of the COVID-19 pandemic, global investors continue to regard Singapore as a safe destination for investment in the form of residential homes. Leonard Tay Head, Research Knight Frank Singapore Leonard Tay provides real estate market research and advisory services to clients. He has more than 10 years of experience in the real estate industry, primarily in the areas of cross-sector market research, consultancy advisory, tenancy administration. Leonard spent more than seven years with CB Richard Ellis researching all sectors of the Singapore real estate markets, three-and-a-half years in Colliers International, and three years in the Housing and Development Board. He has also lectured real estate subjects in Ngee Ann Polytechnic and at the Singapore Institute of Surveyors and Valuers.

Leonard has participated in numerous consulting assignments –including market studies and due diligence advisory, development and financial feasibility studies, investment strategy, and occupier portfolio studies. For more property reads, click .