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HEAR FROM PAST CLIENTS

Join thousands of customers who made their move with SRI

Larry is a very professional and experienced real estate agent. He is very honest and straight forward in providing his valuable advice to me.

He chose to go the extra miles to assist me to coordinate with contractors to resolve new tenant's requests before handling over when i politely requested.

In short, I will not hesitate to recommend Larry to my family, friends, business partners and associates.

EG
Eshwari Guga

Nesh Ganesan & Maha Lakshmi's communication and negotiation skills were outstanding, ensuring a smooth transition.

I highly recommend them for their professionalism and commitment to delivering top-notch service for all!

EG
Eshwari Guga

It has been a pleasure working with Nick to sell our house. He is knowledgable, understanding and helpful.

Our family is very satisfied with Nick's attentiveness and competency shown through the entire sale process.

Thank you Nick!

JF
Jasmine Fu

I would like to extend my appreciation and thanks to your agent Garry Lew for handling my transactions.

He is definitely an asset to your company. His dedication and willingness to success is admirable

PL
Philip Lee Khin Sen

Appreciate Garry's great effort and meticulous planning for the sale and purchase of our new home!

MC
Mr Chiew

I have always felt that i can never thank Maha and Ganesh enough. I was awestruck by their professionalism and thank you once again for helping me find a home.

RV
Revathi

Thanks to William's professional services, my partner and I were able to purchase our first home and are now living happily ever after.

AT
At, HDB DBSS Buyer, Bedok

William is proactive, warm, and reliable. He is always on the ball and provided timely updates during the same.

You can always trust him to get things done at any time of the day

CL
JK & Ber. Citylights

I have a very pleasant experience dealing with Richard who listens well, communicates clearly, and pays great attention to details in all aspects, making the entire process from viewing to contract negotiation to handover smooth sailing and hassle free.

A Truly exemplary real estate professional!

WP
Mr Goh W P

Wayne works tirelessly for the needs of his clients and often uses data to help us make informed decisions. His service orientation and friendly disposition helped us to secure good offers for our home.

BG
Benjamin Gan
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insigts

GLS commentary on Tender Result for Holland Drive

The GLS commentary on the tender result for the Holland Drive land parcel provides a comprehensive analysis of the market dynamics and potential development prospects in this high-demand area of the Core Central Region (CCR). Key Points from the Report: Tender Overview: The highest bid for the Holland Drive site was $805.4 million by Holly Development Pte. Ltd., translating to $1,285 psf per plot ratio (PPR). This was followed by Intrepid Investments and Hong Realty at $765.3 million ($1,221 psf PPR), and Japura Development at $632.0 million ($1,008 psf PPR). The bids indicate cautious optimism among developers towards the CCR segment. Location and Accessibility: The site is advantageously located near the Holland Village MRT station, providing excellent connectivity to the Circle Line. This proximity enhances the appeal of the site, promising convenience and accessibility to future residents. Demand and Development Potential: The parcel has a maximum gross floor area of 626,723 square feet, potentially accommodating around 680 residential units. The area's appeal is boosted by nearby developments such as One Holland Village Residences, which sold out after its launch in 2019, indicating strong market demand. Neighborhood and Amenities: Holland Drive is near significant business nodes like Biopolis and Metropolis, key hubs for biotechnology and research, which could attract professionals from these sectors. The location is also surrounded by robust retail amenities like The Star Vista and Rochester Mall, enhancing lifestyle and convenience for potential residents. Unique Selling Points: The vibrant lifestyle enclave of Holland Village, known for its lively nightlife and eclectic mix of dining and shopping options, adds a significant lifestyle appeal to the area. This aspect is particularly attractive to young professionals and families alike. Educational Institutions: The vicinity is home to reputable schools such as Fairfield Methodist Primary School, Henry Park Primary School, and Anglo-Chinese School (Independent), increasing its family-friendly appeal. The planned opening of ACS (International) Elementary near Holland Village in 2026 further boosts this attribute. Market Projections: Given the historical performance of new launches in the Holland area, such as One-North Eden and Blossoms By The Park, which have shown strong sales, the Holland Drive parcel is expected to be highly sought after. The projected launch prices for properties on this land parcel are anticipated to range from $2,800 psf to $3,200 psf, aligning with current market conditions and ensuring competitive positioning. Conclusion: The Holland Drive land parcel presents a multifaceted opportunity for development in a well-established and highly desirable neighborhood. Its strategic location combined with the vibrant cultural and lifestyle offerings of Holland Village positions it as a potentially successful residential project that could attract a diverse range of buyers and renters. Developers bidding on this site are likely poised to capitalize on the sustained demand and limited new unit availability in this sought-after area.

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Quarterly - HDB Resale Market Trends - 1Q2024

In the first quarter of 2024, the Housing Development Board (HDB) resale market demonstrated a robust performance with a significant uptick in activity. A total of 7,068 HDB resale flats were transacted during this period, marking an 8.0% increase from the previous quarter. This surge is the highest since the third quarter of 2022, driven largely by heightened demand for larger living spaces, particularly executive and 5-room flats, which saw sales increases of 15.3% and 14.2% respectively. The resale market dynamics were also influenced by the significant portion of transactions involving older flats, with those having lease commencements from 1990 or earlier accounting for 38.8% of total sales. This shift is indicative of a growing buyer preference for more spacious and mature property options. Notably, the market saw a record number of million-dollar transactions, with 185 flats selling for over a million dollars each—a 39.1% increase from the previous quarter. This rise in high-value sales coincided with the expiration of a 15-month waiting period for private property sellers transitioning to non-subsidized HDB resale flats, introducing a new pool of buyers into the market. Despite these high-value transactions, the million-dollar transactions still represented a small fraction (2.7%) of the overall market activity, with the majority of transactions occurring in the more modest price range of $400,000 to $600,000, comprising 42.7% of the sales. In terms of pricing, while there was a notable volume of high-value transactions, the average unit price of these deals saw a decrease, adjusting from $1,409 per square foot in the last quarter of 2023 to $1,320 in this quarter, reflecting a 6.3% quarter-over-quarter moderation. Similarly, the highest unit price also decreased from $913 to $891 per square foot, indicating a downward adjustment in prices despite the growth in transaction volume. Looking ahead, the market is poised for interesting developments with the June Build-To-Order (BTO) exercise, which will be the last one before a new classification system is implemented in October. This system will categorize flats into Standard, Plus, and Prime, potentially influencing buyer decisions. The introduction of the new Chencharu estate in Yishun during this exercise is expected to attract prospective homeowners, especially those interested in newly developed areas. However, with the removal of the August BTO exercise, extending the wait until October, and the Sale of Balance Flats (SBF) exercise scheduled only once a year with the next occurrence in February 2025, potential buyers in urgent need of housing might increasingly turn to the resale market. This shift could sustain or increase the demand within the resale sector, particularly among those seeking immediate housing solutions. This period of transition in the public housing landscape offers unique opportunities and challenges, likely influencing the trajectory of the HDB resale market in the upcoming quarters. Click here for the full report Prepared By: Mohan Sandrasegeran Head of Research & Data Analytics

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insigts

Quarterly - Private Property Market Trends - 1Q2024

In the first quarter of 2024, the private property market exhibited signs of stabilization and sustained growth, particularly in new home sales and private property prices. New home sales increased by 6.6% quarter-over-quarter, with the total reaching 1,164 units sold. This growth was predominantly driven by sales in the Outside Central Region (OCR), which accounted for 71% of total sales, highlighting a robust demand in this segment. Notable new developments such as Lentor Mansion, Lumina Grand, Hillhaven, The Arcady At Boon Keng, and Lentoria played a significant role in revitalizing the market. Lentor Mansion topped the sales chart with 408 units sold at a median price of $2,269 per square foot, showcasing the positive reception to new guidelines emphasizing liveable space in property measurements. Lumina Grand also saw substantial activity, with 370 units sold, underscoring a vibrant market for new launches. Overall, private property prices saw a modest increase of 1.4% in 1Q2024, with a notable interest in properties priced between $1.0 million and $2.0 million. This price bracket, particularly highlighted by Lentor Mansion’s sales, reflects a market trend favoring affordable luxury. The landed property segment also experienced growth, particularly in the $4.0 million to $7.0 million range, indicating a strong market for premium landed homes. The implementation of a 60% Additional Buyer's Stamp Duty (ABSD) for foreigners, up from 30%, has significantly moderated foreign participation in the market, making room for a greater proportion of local buyers. Singaporeans now constitute 82.4% of the private property purchases, a significant increase that suggests a shift towards a more locally-driven market. Resale transactions, although experiencing a slight decrease of 5.0% quarter-over-quarter, saw an annual increase of 2.6%. The relaunch of Cuscaden Reserve at more attractive price points contributed to this interest, attracting both investors and regular buyers. Additionally, the rental market has seen an uptick, particularly in newly completed developments such as Normanton Park and Treasure at Tampines, indicating a preference among renters for newer units. Looking ahead, the market is expected to maintain its positive trajectory, supported by a steady demand for new property launches and the successful introduction of new developments. Factors such as potential adjustments in interest rates could further enhance the attractiveness of real estate investments, indicating a promising future for the private property sector. This ongoing resilience, coupled with strategic new developments and supportive economic conditions, suggests a controlled yet positive growth in the property market amidst ongoing regulatory measures. Click here for the full report Prepared By: Mohan Sandrasegeran Head of Research & Data Analytics

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