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So far Amber Park has created 5 blog entries.

Singapore Real Estate Industry Evolves to Reduce Covid-19 Impacts

By |2021-08-05T21:39:39+08:00|News, Real Estate|

COVID-19 has put the entire human race in disarray and all countries have reported cases. There is no doubt, that this pandemic has ripped and sabotaged the world economy to a high extent. Restriction of movement, social distancing, and lock-down have been put in place in countries across the globe. With this in mind, investors are perturbed as per how to prevent the insolvency of their assets. Real estate investors are thrown into a state of bewilderment, as the lock-down has meted direct impacts on Social gathering and events. Restaurants, schools, hotels, malls, and warehouses are isolated.

It is quite glaring that every market has been threatened by the outbreak of Covid-19, but the real estate is arguably the most affected industry. Let’s go ahead and analyze how the real estate industry has evolved during the pandemic, with Singapore as the focal point.

In Singapore, The lock-down has affected the business of top Singapore real estate projects. Examples include Riviere, and Amber Park Showflat. Their revenues as well as customer volume were negatively affected.

The effect of COVID-19 has been quite enduring and was more experienced in the second quarter of the year than in the first quarter. There is a massive slump in the industry, as yearly investments reduced by 32 percent during the first half of the year. However, the real estate industry is evolving, as market leaders are harnessing various measures and new technological trends to keep the market afloat.

Indeed, the pandemic has instigated the worst financial breakdown in the Singaporean real-estate industry since 2008. The economy experienced a melt down between April 2020 and June 2020 when the lockdown was enforced. As a result of this, the real estate industry’s year on year returns crumbled by 39 percent.

Results of the latest data from JLL indicate that Singapore and Hong Kong are the most affected Asian countries. During the first quarter of 2020, the volume of real estate investment in Hong Kong dropped by 65%, whereas, Singapore experienced a whooping 68% drop in the second quarter of this year. This is a significant drop compared to last year’s performances.

The housing sub-sector was at the front line of the impact, as the sales of property in Singapore fell by 55 percent in April compared to the figures in March. Meanwhile, it is apparent that the drastic drop is as a result of overseas and internal travel restrictions.

The ravaging impact of the pandemic prevented customers from visiting estate properties that interest them.

The challenge is huge and might sweep some parochial companies into oblivion. However, estate developers in Singapore have employed various strategies in ensuring that they remain in business. Digital innovation has been the order of the day, and this has brought about virtual viewing of properties by interested investors. Due to the pandemic, these estate developers have updated their online portals, allowing investors to carry out virtual peeps into the properties on their computers and mobile devices.

Affinity at Serangoon had earlier announced the closure of her showrooms between April and the first week of June, but they later opened their doors for visitors in June, while ensuring that virtual technology is put in place. Compared to other developers, Companies with virtual reality capabilities are attracting more patronages than those without.

Just like Affinity at Serangoon, Amber park Developers are obeying the preventing measures strictly. As we speak, interested investors can only be allowed entrance into the facilities after booking online. From home, would-be investors can have a clear view of the various condominiums and units before booking for a physical visit. The developers are ensuring crowd control, social distancing and controlled access to the facilities. Truly, there is a new face to the real estate economy

The world has revolved and the post-COVID-19 period will see changes in the way the real estate industry is run.

The coming of the 5G technology and Artificial intelligence will put the icing on the cake. Virtual reality will be adopted by a plethora of housing and estate developers. Of course, the virtual reality can showcase enormous information to interested investors, and can attract leads even more than videos and pictures.

There are massive uncertainties, and experts are predicting that the impacts of the Pandemic will linger for a long time. However, investors will be more optimistic during the second half of the year, and technological innovations will play a key role in facilitating productivity.

Everything you need to know about Amber Park in Singapore

By |2020-07-19T03:37:49+08:00|Condo Launch and Preview, News, Real Estate|

Everything you need to know about Amber Park in Singapore

Amber Park the solo standing beautiful condominium structure is located at 14 Amber Gardens, in Singapore. This exquisite property, along with adjacent Amber Road and the neighboring Amber Gardens, is getting developed jointly by City/Cityzens Developments Limited (CDL) and Joint Venture Partner with Hong Realty, offering luxurious living to its residents. The joint venture development is slated to complete by the year 2023 and offers you a great locale at competitive prices while extending all benefits of a modern living place to you.

Amber Park Luxury Features

In line with its luxury living theme, this exquisitely designed property offers several amenities to its residents so that they are not constrained in terms of leisure options while staying here. Given that our beautifully crafted property is built for family-oriented living without compromise in luxury, we offer facilities within the premise that make your stay here a great experience.

· We have a beautiful children’s park within the premises, for all the children of Amber Park. Not only does this give your child a wonderful outdoors playing area, but you can also rest assured and not have to worry about your child constantly, as this is a contained area.

· Our entire facility is under 24/7 surveillance through cameras. Moreover, our security personnel is present round the clock to ensure your stay is safe and secure by curtailing any unsolicited interference from outsiders.

· We have taken care of the parking requirements of the residents by providing for parking space

· For those who love sports, we have the Singapore Sports Complex, which is less than 7–10 mins drive away.

· The Chinese Swimming Club is situated in the south of Amber Park, which is an excellent choice for those who like swimming.

· For tennis lovers, there also is a tennis court facility that can be availed of.

Amber Park Attractions

It is not just the excellent amenities at Amber Park that will interest you here; there are other attractions too that our residents can look forward to.

· East Coast Park — The beautifully landscaped East Coast Park is just a stone’s throw away from Amber Park. Imagine enjoying the greenery and the fresh air, whether you are jaywalking, jogging, or simply sitting down to enjoy nature.

· Sea facing view — The design of our exquisite property is going to ensure that most of the condominium units will have a North-South facing view, which will give our residents a breathtakingly beautiful view of the sea.

Amber Park — Locality Options

One of the primary considerations before buying your home is education, health, and market facilities in and around the premises.

Education

Amber Park offers you some of the best-in-class education centers in Singapore. Some of the worthy and renowned educational institutions for your consideration are:

· Tao Nan School

· Tanjong Katong Primary School

· CHIJ (Katong) Primary School

· Ngee Ann Primary School

· Victoria Junior College

· Chatsworth International School

· Canadian International School

Keeping the above options in mind, families with young children and teenagers definitely don’t need to worry about the schooling of their wards.

Health Facilities

Another area that residents are always thinking about is the presence of a hospital and health clinic close by, which they can reach at the soonest in case of medical emergencies or needs. Residents of Amber Park need to least worry about any such health need with some of the top hospitals and clinics in the near vicinity.

· International Medical Clinic, Katong

· Zheng Fong Hung Chinese Medical Treatment Centre

· 81 Family Clinic

· Chan Family Clinic

· OneCare Medical Clinic

· Parkway Women’s Clinic

· Coast Dental Dentist, Katong

Residents can rest assured that nothing is too far away to reach should any medical situations arise. Amber Park is strategically close to some really popular medical centers.

Markets/Shopping:

A good part of daily living is spent in market areas and shopping zones, where you can buy a range of daily and Adhoc needs from. Right from daily groceries to frozen foods to stationery to clothing to housewares, we have it all covered and mapped for residents of Amber Park. Some of the shopping arcades you can consider are –

· Parkway Parade — for almost all your needs under a single roof

· Watson’s Personal Care Stores Pte Ltd

· Liang Seng Sports Store

· Katong Shopping Centre

· Parisilk Electronics Store

Amber Park — Ease of Access

Living in Singapore is not just about being able to live lavishly but also about how easily and well connected you are to important areas of the city. Accessibility, too, has been of prime consideration before someone finalizes on purchasing their dream home. And at Amber Park, we recognize this specific need and have been strategic in our design in context to accessibility to several important locales in the city. Our property is well connected, and we have made sure that public transportation has been adequately mapped around our property for the convenience of its residents. The transportation points at your service are –

· Tanjong Katong Road (a minute away)

· MRT Stations — CC8 Dakto, CC7 Mountbatten, EW8 Paya Lebar

· Major roads and highways are easily accessible after short drives

· Easy accessibility to the city and CBD

· Proximity to Paya Lebar Central

· International Airport (10 mins away)

All of the above easily accessible locations are a great value proposition for both individuals and families, given that people have to travel to and fro to work and other places regularly.

Amber Park Site Options

With all of the above-mentioned plus points, Amber Park also has been very flexible in designing and offering a range of floor sizes, depending on the needs of different buyers. The property has 200 units measuring right from 155 sq.m., and we offer condo units of the size of 543 sq.m.

Buyers have options of 1BR, 2BR, 3BR, 4BR, and 5BR units to choose from with proportionate pricing depending on the level and layout of each unit.

Amber Park — A Perfect Choice

Nestled between the most desirable spots in the city of Singapore, Amber Park definitely gets hands down vote for being the perfect choice for luxury living amidst nature. Several resident families will vouch for that! Why don’t you make it your choice too?

Condo Name: Amber Park

Address: 14 Amber Gardens Singapore 439960

Telephone: +6563879196

Opening Hours: 9am — 8pm

Why Amber Park’s Flat Launch is So Popular

By |2019-08-27T23:40:36+08:00|News, Press Release for Condos, Real Estate|

Amber Park is a private Freehold lease condominium development, which is located along Amber Road. It is in the perfect spot for anyone who is looking for a relaxed and family-friendly setting.

The residential development site is very large and unique, compared to similar projects. It is a very popular space, particularly because it leads to the Tanjong Katong Road, which is accompanied by incredible views of the horizon, East Coast Park, and the sea.

When looking for an apartment, most residents made it clear that they indeed prefer one with a view. Given that Amber Park offers views from all angles, it has become quite the enticing location. The condominium is also developed by Hong Realty and CDL, which has taken on the project as a joint venture. The two developers will work together to establish the residential development in the middle of Amber Gardens, which also adds a natural element to the location.

Increased Location Popularity – Everything Potential Residents Could Ever Ask for

Apart from incredible views and Gardens, this sought-after environment additionally has many amenities, that all add to a convenient lifestyle.

The Amber Park residential development is only 200 meters away from the Tanjong Katong MRT Station, which is currently under construction. Once the MRT station is finished, residents will have access to transportation at their doorstep. The Thomson-East Coast railway line will also be completed by 2023, which will provide easy access to yet another attraction, the Marina.

The apartments itself offer residents a luxury experience and is mainly built with the idea of keeping family in mind. There are 582 units, which have all been designed for anyone seeking a lifestyle-oriented environment. Whether you’re a single individual or couple that are looking for a one-bedroom apartment, or a family big enough to house a five-bedroom apartment, Amber Park condominiums offers it all.

The condo site and surrounds offers a lot of different shops, privacy, and security. This ensures a calm and safe environment. The Freehold District 15 Condo has an outstanding transport connectivity, providing access to some of the biggest roads and expressways.

Shops include exclusive clothing retail stores located inside shopping malls surrounding the condo and fine dining experiences to share with family and friends.

For families with children, there are many options for schooling, including the Tanjong Katong Girls School, the Tanjong Katong Primary School, as well as international schools that are within driving distance from Amber Park.

To add to the condominium site’s charm, its location is also close to the Marine Parade area, which boasts with plenty of cultures, unlimited shops, and some of the most beautiful estates in Singapore.

The Marine Parade includes countless commercial options and amenities, such as the Tanjong Katong/ Marine Parade and traditional malls located close by. Sports facilities, like the Chinese Swimming Club and the Singapore Sports Complex, can also be found a 7 to 10-minute drive from the complex, which includes unlimited sports options, depending on your preference.

From a unique shopping experience to educational and sporting facilities, outstanding views, gardens, and modern apartments, it’s no wonder why Amber Park’s flat launch is so exciting among the public.

Amber Park sold for S$906.7 million to en bloc

By |2019-04-16T02:46:45+08:00|Condo Launch and Preview, Press Release for Condos, Real Estate|

The Amber Park (Not Renamed) in Singapore which covers a 200-unit development in Amber Gardens has been sold to two privately owned companies. The Hong Leong Group purchased Amber Park for a value estimated to be S$906.7 million.

Among the units involved in Singapore’s latest collective sale of Amber Park are listed Hong Reality and the City Developments’ fully-owned subsidiary Citizens Developments(CDL). Hong Reality as a shareholder of this project holds a 20% stake. Besides, it is the private real estate branch of the Hong Leong Group.

According to the 2014 Master Plan, the Amber Park site(approximately 213,670 sq ft) is meant for residential use. The gross plot ratio was to be 2:8. Depending on the technical height regulations imposed by concerned authorities, Amber Park Site may be renovated and developed so that it can sustain the increase apartment development of about 24-26 storeys.

In a statement, on Wednesday,4th of October, Mr.Tan Hong Boon(regional director at JLL) said that so far they have received eight bids for tender. He also claimed that the bids for tender is very competitive and it is keenly contested.
Sources indicate that the value(S$906.7 million) under which Amber Park was sold translates to a land rate of around S$1,515/sq ft per plot ratio. This is in reference to the initial gross plot ratio of 2:8. Remember, development fees are not payable for the proposed development. History shows that this the 4th time that Amber Park was offered for sale collectively.

Mr.Tan in his statement claims that apart from Amber Park Site in Amber Road location, there are no many sites of the same size that are there for redevelopment in Singapore. He says that majority of the bigger projects have been sold en bloc. They have also been redeveloped for the last couple of years.Mr.Tan also noted that there is a high chance of Amber Park being one of the last collective sale sites that has a land area of over 200,000 sq ft in the city.

Under the sale which the Park was sold, its owners anticipate getting gross sale proceeds that range from S$4.3 million to S$8.3 million for every owner. Elsewhere, CDL claims that is conversant with the District fifteen locale.CDL is proud of itself by developing the current 200 unit Amber Park in 1980s and finished it in 1986.

Hong Reality and CDL are planning to redevelop Amber Park Site to become a want way destination for people in Singapore. The site will consist of four storey building that has up to 800 units with a basement carpark. This proposal is subject to approval. Majority of apartments will comprise of a North to South facing orientation. Most units will also have commanding sea views.

Mr.Kwek Sherman( CDL C.E.O/designate) noted that when they won tender for redeveloping Amber Park in 1980s, it was one of the most vital investment deals in the country of Singapore residential market in recent times. He says that they were honored to redevelop the site into an iconic landmark that offers freehold status in Singapore.

Real Estate Lingo in Singapore

By |2019-04-16T02:43:14+08:00|Real Estate|

For Singapore, it is not difficult to identify the terms used in real estate transactions. All of the terms reflect a widespread use of English in the realm of communicating and this singular usage has resulted in a highly developed real estate lingo which has brought together the four main racial groups into a harmonious whole. This is reflected in the dynamism of the city state’s real estate landscape.

The professionals of real estate

In Singapore, professional names and terms are accorded their proper place in real estate transactions.

In regards to realty terms used, there is no doubt that ethnic groups do have their own terms in their own different languages, but these have largely failed in establishing a niche so as to become part of the real estate parlance.

The use of English terms in the real estate environment is predominant.

Property Types

Semi-detached – 2 houses that share a common wall, but keep separate gardens.

Linked house – 1 of 2 landed houses joined to the other by a common wall separating their car porches. The common wall is the side wall of the two car porches.

Terrace houses – These are houses that are joined in a row that often have a paved or grassed garden. Larger versions of this type may have a swimming pool, playground or gymnasium.

Corner terrace – This is a landed house located at the end of a row of terrace houses that occupies a larger area of land compared to terrace houses.

Maisonette – The maisonette is a building with a 2-level residential unit within. The adjoining floors are connected by an internal staircase leading from the ground to the upper floor.

Shophouses – A shophouse is a legacy for Singapore’s past that consists of a shop area below and living quarters above. Many have been renovated to enhance original features and tiling. They have small outdoor areas but contain internal courtyards and are found in the central and eastern part of the island.

Detached homes – These homes are essentially bungalow-type buildings that may be single, double or 3 stories high.

Black and whites – Like shophouses, these buildings are a reminiscent of the British colonial era and were used to accommodate air, land and administrative personnel. They range from small terraced homes to palatial residences raised on stilts. Many have huge gardens and servant quarters. They can be let but without air conditioning, fans and linens, which a buyer must purchase from previous tenants.

Cul-de-sac house – A landed house situated at the end of a large dead-end road where a turnaround road has been constructed.

Duplex House – A 2-storey building that contains a residential unit on the first floor and a second residential unit on the second floor. Residents share the same land and an outside stairway connects the first floor residential unit with the unit above it.

Townhouse – A ground-level residential unit joined to a row of 3 or more residential units that have common ownership of theland.

Cluster housing – This type of residential unit is a cross between landed and condominium housing. All the houses are built at ground level and residents share facilities like those found in condominiums. Cluster housings have Strata Titles.

Apartments – An apartment can range from studios to large, 5-bedroom flats that can occupy 1 or 2 floors of a building.

Condominiums – Condominiums are also referred to as condos, which, apart from providing rental accommodation, also provide facilities such as a gym, tennis court, function room, pool and sometimes a small shop.

Penthouses – These are less common rental units that offer private outdoor living with colossal views available. Many have their own “Jacuzzi” whirlpool baths.

Other terminology

Co-broke deal – A situation where more than 1 agent liaises between a landlord or owner and several tenants.

Empty furnished or non-furnished – This highlights a residential unit that is provided without any furnishings except for kitchen space, faucets and light fittings.

Fully furnished – A residential unit or house that is fitted with common furnishings such as a refrigerator, washing machine, television set, furniture, wardrobes, beds, mattresses and similar furnishings and appliances.

Partially furnished – A partly furnished unit or house is fitted with only some and not all the more common furnishing items.

HDB – This is an abbreviation of the Housing Development Board, which is totally responsible for all public (government) housing in Singapore.

HDB flats are units provided by government to house its citizens. They can rent their flats or sublet bedrooms to permanent residents, non-citizens, students or people holding a work permit. There are restrictions and these must be checked out first before any commitment is made.

N-bloc or Enbloc – to the sale of an estate by a majority vote of the owners to give way to a new estate. For development of less than 10 years old, a 90% majority vote is required, but for development of 10 years old and more, only an 80% majority is required.

Strata title – Multi-level apartment units are divided into separate levels, or “strata”.

Top – A “Top” refers to a temporary occupation permit. A unit that has been labeled as a “Top” unit means that the unit is ready to be occupied.

Common room – This term refers to a living room area within the same HDB apartment or house. It is usually shared by other occupants living in the same apartment or house.

Master room – A separate room within the same HDB apartment or house that is available only to the person paying rent. It is usually partly or fully furnished with the full range of amenities and appliances. The quality of the master room is reflected in the rental price charged.

Pax – Commonly used by agents and landlords when referring to tenants living in rental units, the term was originally used by the travel industry, which referred to passengers.

Leasehold – The right to own real estate for 99 years or the right to own property for 999 years, a version of the first leasing type.

Freehold – The right to own land in perpetuity or without any limit to such ownership.