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iProperty.com Asia Property Market Sentiment Report 2012

Feb 21st, 2012
by Singapore Property Resources and Guides, HDB, Districts and Archived listings.
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In December last year, many of you participated in iProperty.com Asia Property Market Sentiment Survey, which resulted in this Report. We thank you for making this Report so great, filled with insights that we’re sure will help you make better property decisions – here and overseas.

As the first regional online property survey of its kind, the iProperty.com Asia Property Market Report comprises of 7,720 responses from website visitors and subscribers of iProperty Group networks in Singapore, Malaysia, Indonesia and Hong Kong. The survey revealed a common thread amongst property buyers throughout the region, but also key country-specific findings.

Did you know?

"85.6% of respondents in Singapore deemed affordability and rising housing prices as the top 2 issues in the property market."

"42.2% of Singaporean users in the survey showed interest in overseas property, citing Malaysia and Australia as their most preferred overseas locations."

"Over half (51.7%) of Singapore buyers has a budget of between SGD 500,000 to SGD 1 million."

" Two-thirds (66.4%) felts that the Singapore property market is holding up well despite the threat of a global recession."

" 58.3% agreed that the government should step in to control COV on HDB flats."



Member of iProperty.com.sg? Login & download the full 65-page Report now.

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Consumer education for ‘DIY’ resale sellers

Feb 14th, 2012
by Singapore Property Resources and Guides, HDB, Districts and Archived listings.
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National Development Minister Khaw Boon Wan revealed recently that one in 10 Housing Board (HDB) resale transactions in 2011 were completed without the aid of real estate agents.


(10% of HDB resale transactions last year were done without a property agent. Image courtesy of Thinkstock.)

In light of this statistic, the minister announced that the Council for Estate Agencies (CEA) would be helping homeowners better understand their rights should they opt to conduct such ‘do-it-yourself’ (DIY) resale deals, as part of the council’s ongoing consumer education efforts.

Khaw noted on his Housing Matters blog that among the feedback he received from members of the public were two opposite suggestions: preventing property agents from handling HDB resale transactions, and prohibiting such agent-free DIY resale transactions.

However the minister found both inappropriate to carry out, explaining that the HDB already provides homeowners who want to conduct DIY resale deals with a checklist of requirements that covers issues such as eligibility and financing.

Although industry analysts commented that there was currently no observable DIY trend, they admitted that it is a common thing for buyers and owners to choose to undergo at least a part of the transaction process without an agent.

The reason is simple: buyers and sellers who do without agents can avoid paying more for the agent’s commission. Real estate agents generally charge about 1% of the transaction price for buyers and 2% for sellers.

Speaking to The Straits Times, SLP International head of research Nicholas Mak explained that although the cost-cutting benefit is attractive, going DIY could be tricky because of all the unfamiliar paperwork involved.

To tackle this obstacle, some DIY sellers like youth worker Kumar Suresh, 39, will only rope in an agent to handle the paperwork. Suresh, who is aiding his sister in selling off her three-room HDB unit at Jurong West, told The Straits Times that he will ultimately complete the resale deal on his own.

“Even with [the agent] doing the paperwork, I can save up to $5,000. By dealing with the buyer myself, I can also decide what is a reasonable price rather than having an agent who might coax me into accepting a figure,” he said.

Business owner Vera Chua, in her 30s, also intends to sell her four-room flat at Tiong Bahru without an agent. She told The Straits Times that she would be engaging a lawyer to deal with the paperwork complexities.

 “I'm doing it to save on the agent's commission and learn how the process works so I can use the skills in future. And because I conceptualised the flat's decor myself, I think I'm the best person to present it and match it to the new owner,” she explained.

Khaw, meanwhile, assured consumers that his “bias will be towards the consumers, but to do so in a fair manner”. In his blog post he acknowledged suggestions from members of the public, such as improving the quality of agent training, and upping agents’ minimum education qualifications.

The minister also let on that the council is working on shortening the time taken to resolve disputes between agents and consumers.

Parties with disputes over the Estate Agency Agreement—which states for the record the agreed commission amount—can look to the CEA’s resolution scheme for mediation and arbitration.

Since last January, all real estate agents have to register with CEA, which investigates complaints and imposes the necessary penalties. The council told The Straits Times that some aspects of its training courses that could be worked on include professional ethics, and business leadership and management.

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The void deck – non-profit groups speak up

Feb 13th, 2012
by Singapore Property Resources and Guides, HDB, Districts and Archived listings.
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Amidst protests against the set-up of an elderly day-care centre at a void deck in Woodlands, voluntary welfare groups speak up about why they have made these communal spaces their homes.


(Dover residents find that such social communal facilities have long since been integrated into their lives. Image courtesy of Sengkang.)

For one, these void decks provide great accessibility to the community. Said Alfred Tan, executive director of the Singapore Children’s Society to The Straits Times, “Some of our centres are located in void decks where there are lots of youngsters hanging around, so it makes them more effective drop-in centres.”

Tan explained that the organisation began branching out to Housing Board (HDB) void decks in the 1980s—a deliberate move to get closer to its beneficiaries. Six of the Children’s Society’s 10 branches are currently located at void decks.

He also cited another benefit: cheaper rents. According to Tan, the organisation would have easily incurred four or five times more rent should they have set up shop in a commercial building.

Similarly, Joyce Lye—founder of the Kampung Senang Charity and Education Foundation—said running the elderly day-care centre at a Tampines void deck opened up the opportunity to seek subsidised rent from the Ministry of Community Development, Youth and Sports (MCYS).

She told The Straits Times her void deck space costs merely one-third of the current market rate—an amount that has not changed since the centre commenced some 13 years ago. Lye noted she would have to fork out up to $4,000 a month otherwise.

The Association of Women for Action and Research (AWARE) is another welfare organisation that has bucked the void deck trend, housing its offices, helpline centre, research centre, as well as counselling rooms within a 2,500 sq ft void deck facility in Dover Crescent. Executive director Corinna Lim told The Straits Times that its previous location at Race Course Road was not as accessible.

HDB informed The Straits Times that welfare groups, which offer social and communal services like childcare facilities and senior activity centres, are often set up at void deck spaces with support from relevant ministries.

There are currently some 640 social communal premises at HDB void decks, operated by over 230 voluntary groups and non-profit organisations. The HDB charges them rent of between $1.50 and $4.50 per sq m each month, depending on if they have built their own premises. These rates have stayed the same over the past decade.

MCYS echoed sentiments that many such centres are situated at void decks to serve the immediate community more conveniently. A spokesperson told The Straits Times that it plans the locations for these centres and examines proposals from those requesting to set up at HDB void decks, taking into consideration “the profiles and needs of the residents in the community and the demand for such services”.

Businesses, however, are charged commercial rates for using void deck premises. One such enterprise is Cherie Hearts kindergarten, who has 12 such centres under its belt after moving to the heartlands in 2004.

During a Straits Times visit to estates where social communal centres are commonplace, residents expressed that such facilities have long since been integrated into their neighbourhoods. Dover Crescent, for instance, has about five such facilities within a four-block area.

Yong Fui Hean, a business owner and resident, commented that he sends his children to the childcare centre in Block 3. “I think having these facilities nearby makes it very convenient for those who need to use them. Protesting against having them is selfish.”

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Loan sharks force debtors to sell homes

Feb 6th, 2012
by Singapore Property Resources and Guides, HDB, Districts and Archived listings.
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No more scrawling elevator walls with debtor’s names; some illegal moneylenders have employed a new method to get debtors to pay up—making them sell off their Housing Board (HDB) flats and hand over the cash-over-valuation (COV) amount as payment.


(Some illegal moneylenders are making debtors sell their HDB apartments, using the COV received as payment. Image courtesy of Thinkstock.)

These lenders get property agents—some of whom are also debtors—to conduct the sales. For their work these agents get up to 8% commission for these sales. Agents usually receive commissions of 1-5%. COV is the amount that homebuyers foot above the valuation of the flat, as determined by an HDB-approved valuer.

One debtor is engineer David Liew, 37, who spoke to The Straits Times of his embroilment in such a transaction.

In 2008, Liew borrowed some $200,000 from illegal moneylenders (also known as loan sharks) to pay off gambling debts. After years of only being able to pay off interest, and the consequent harassment that he (and occasionally his neighbours) had to put up with, he told his lenders of his decision to sell off his HDB flat, a four-room Bedok unit that cost him $350,000 five years ago.

 “I felt so bad and so humiliated […] As soon as the five-year occupation period was up, I decided to sell the flat,” he said.

The loan sharks, however, brought over a real estate agent to handle the sale. He withheld the keys, but they removed his gate to hold viewings with potential buyers. Eventually, the rogue agent found a buyer who paid $500,000 inclusive of a $50,000 COV—an amount Liew was not satisfied with.

He said, “When they found a buyer, they arranged everything, made me sign despite the fact that I wasn't happy with the price, and then demanded I pay the $50,000 to them once I received it.” Liew added that he did not make a complaint against the errant agent to authorities because he feared for his safety.

Freshly established rules dictate that all agents have to be registered with the Council for Estate Agencies (CEA) to conduct HDB transactions. A CEA spokesperson informed The Straits Times that the council is only able to act when there is a complaint; none, however, have surfaced.

Said the spokesperson, “Under the Estate Agents Act, estate agents and sales staff are not allowed to refer a client to any moneylender, licensed or otherwise, or receive any commission or other benefit from any moneylender relating to any moneylending transaction.” Violation of this rule could result in a fine of up to $75,000, or a suspension or revocation of the agent’s registration.

The Straits Times reported that Liew’s real estate agent was currently aiding in at least four such debt-related HDB sales at an 8% commission per sale. The anonymous agent let on that he knew of five other agents who were engaging in similar transactions for the same illegal moneylender; one of whom said he had “no choice” as he also owed the lender a sum.

Analysts and agencies noted that collusions with moneylenders to obtain loans for buyers were a common thing about two years ago, and these cases are likely to involve only a small group of rogue agents.

PropNex, for one, said its agents are informed of rules and regulations they need to adhere to during training sessions. Chief executive Mohamed Ismail said, “Now that you have to be registered, your rice bowl is at stake when you help these moneylenders. But if they are working together at a moneylender's request, then it is collusion and they should be taken to task.”

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Council for Estate Agencies had a good year, says Khaw

Feb 1st, 2012
by Singapore Property Resources and Guides, HDB, Districts and Archived listings.
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The clamp down on errant property agents appears to be working. The Council for Estate Agencies (CEA) reported that three of four complaints it received against agents were successfully resolved.


(About 75% of complaints lodged to the CEA were solved. Image courtesy of Thinkstock.)

According to The Straits Times, the watchdog has handled some 1,431 cases since its inception in October 2010. Of these, 75% were assessed, followed up with, and eventually closed.

Many cases involved the CEA sending letters of advice or warnings, said National Development (MND) Minister Khaw Boon Wan. However, the minister added that a handful have winded up in court or disciplinary hearings.

One particular court case evolved from a complaint against 45-year-old Tan Cher Peng. For posing as an unregistered salesman, Tan was slapped with a $32,000 fine and a one-month jail term in this January.

Most complaints revolve around misleading advertisements, unprofessional services and misconduct.

In a bid to better professional standards in the country, the CEA requires that all property agents register themselves. This nation-wide call was mostly answered: over 30,500 property agents have signed up by January 1 this year.

Now it seems educational levels among agents are on the rise. The Straits Times reported that 81% of new agents have attained tertiary education, up from the 53% figure among those already in the industry.

Agents also currently undergo six hours of Continuing Professional Development (CPD) programme every year, but the figure is set to increase in future. Sebastian Yeo of the Dennis Wee Group told The Straits Times, “I also feel six hours of CPD are not enough, and 12 hours would be better. I hope that the whole industry will be cleaned up in two to three years.”

Another pleased with the announcement is PropNex, whose chief executive Mohamed Ismail told The Straits Times, “I feel that this is a good start for an industry that has been unregulated for a long time. It may take some time as there are over 30,000 people in the business, but I feel that this will bring up the standards for the industry as a whole.”

The council has also implemented a few restrictions, which ban the use of misleading titles (like ‘specialist’ or ‘expert’), the use of figures in publicity material without clearly stated sources, and promising sellers a certain amount of cash premium.

In his Housing Matters blog, Khaw praised the council for having “had a good one year”. He noted that there was more to be done in the areas of rule refining, industry development improvements and consumer education.

The minister added that the government is also reviewing the mechanisms that the CEA uses to resolve conflicts in considering if the Small Claims Tribunal can play a role.

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9 of 10 Watertown buyers are Singaporean

Jan 25th, 2012
by Singapore Property Resources and Guides, HDB, Districts and Archived listings.
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A week after its launch, the Punggol condominium, Watertown, confirmed an overwhelming share of local buyers, no doubt an after-effect of December’s additional buyer’s stamp duty.


(One of the many reasons why local buyers flood to Watertown: Punggol MRT Station. Image courtesy of Terence Ong.)

Far East Organization, one of the project’s developers, told The Straits Times that Singaporean buyers accounted for over 90% of the 550 units the joint venture condo moved so far. This is up from the average 80% share that locals usually made up at the firm’s suburban launches last year. These projects include The Tennery in Bukit Panjang, The Greenwich in Seletar Hills and euHabitat in Jalan Eunos.

When the firm previewed The Hillier—next to the upcoming Hillview MRT Station—after the 10% buyer’s stamp duty introduction in December last year, Singaporeans still comprised about 80% of buyers.

A Straits Times source suggested that the strong demand from foreign and permanent resident (PR) buyers could have remained because of the project’s close proximity to Bukit Timah. Bukit Timah is home to reputable schools and well-heeled residents.

However, the government announced that from December 8 last year, foreign buyers had to fork out an extra 10% buyer’s stamp duty for any residential property purchased in Singapore. While PRs are not affected by the 10% additional buyer’s stamp duty, they—and their Singaporean counterparts—have to foot a 3% additional buyer’s stamp duty on the second and subsequent residential properties they buy.

Repelling foreign buyers is one thing, but attracting local buyers is another.

Commenting on how Watertown has managed to move so many units in such a short time, Far East chief operating officer of property sales Chia Boon Kuah told The Straits Times that it was all about selling points. “It's a one-of-its-kind mixed use development that offers waterfront living integrated with a mall and the Punggol MRT Station.”

According to Chia, such mixed-use developments tend to be appealing to buyers.

(Watertown show gallery taken on 26 Jan 2012)

He added that the joint venture also allowed all parties to leverage on each other’s unique strength. Watertown is jointly developed by Far East (widely considered a property giant), Frasers Centrepoint (whose expertise lie in retail mall operations) and Sekisui House (a Japanese firm with green construction technology know-how).

So if foreign buyers are not snapping up Watertown homes, which Singaporeans are?

According to The Straits Times, around half of the condo’s buyers hail from neighbouring District 19 and its constituent Sengkang, Hougang, Punggol and Serangoon estates. Two-thirds of buyers reside in public housing flats.

“Interestingly, some of our buyers are purchasing the units at Watertown for their weekend or holiday homes and also for retirement. Many are also buying for their children as well,” said Chia.

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Few Pre-Chinese New Year Buyers

Jan 16th, 2012
by Singapore Property Resources and Guides, HDB, Districts and Archived listings.
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Hopes and expectations among property developers were that the pre-Chinese New Year period would usher in better sales. However, with the cooling measures playing out to large effect, property agents are welcoming healthy numbers of visitors to their show flats but are closing few sales.


(Cooling measures are now starting to have a real effect on the Singapore property market. Image courtesy of Thinkstock.)

Experts tell The Straits Times that the possibility of plummeting home prices following the latest round of cooling measures that were announced last month resulted in many homebuyers holding out on their purchases.

One such show flat was that of Riversound Residence in Sengkang East Avenue. Its developer Qingjian Realty sold about 10 apartments at an average price of $850 per sq ft (psf). This brings its total sales to over 60 units since its launch the week before.

Qingjian managing director Zuo Haibin told The Straits Times that with many expressing their interest in the project and few have indicated a solid commitment, the pressure of the cooling measures is “keenly felt”.

“Our aim now is to sell about 60 to 70 per cent of the 200 units that make up the project's first phase within three months. Had the measures not been implemented, we would probably have sold that many within a month,” he said.

Yet The Straits Times reported that the firm still has plans for another mass-market project launch in Punggol in June.

Over the past weekend a similar situation can be found at Sembawang Road, where Hao Yuan Investment’s The Nautical lies. The 435-unit development sold off some 15 more homes at an average price of $850 psf this weekend. In total, it managed to find owners for about 150 of its units.

Far East Organization, meanwhile, sold an additional 36 units at The Hillier in Upper Bukit Timah. A total of 332 of its 528 units have been taken up at an average price of $1,205 psf.

Homebuyers The Straits Times spoke to said they just want a clearer picture of the market and prices before making a decision. Others told the paper that they were waiting for more launches to come after the Chinese New Year period.

This behaviour greatly contrasted what property agents used to see in show flats. In the past, potential buyers would bring along cheque books to make purchases on the spot. Now, potential buyers are more cautious and make multiple visits before buying.

One visitor to the Riversound show flat, only known as Mr. Heri, told The Straits Times that he and his wife were considering purchasing a four-bedroom apartment there as an investment. “But we want to look at another project in Punggol before making the final decision,” said the 37-year old who works in supply chain.

“It's not small change we're talking about, so we need a bit more time.”

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Older HDB estates may try out mechanised parking

Jan 12th, 2012
by Singapore Property Resources and Guides, HDB, Districts and Archived listings.
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Recently, Minister of National Development Khaw Boon Wan spoke of his interest in implementing mechanised parking systems on his Housing Matters blog.


(In land-scarce Singapore, mechanised parking systems are growing to be a more viable choice than creating and expanding on car parks. Image courtesy of Thinkstock.)

The December 30 blog post revealed that the Housing Board (HDB) was studying the feasibility of such parking systems to deal with the growing parking crunch problem in land-scarce Singapore.

Now, MP Lee Bee Wah, chairman of the Government Parliamentary Committee (GPC) for National Development announced that pilot tests of such systems are likely to be carried out in older HDB estates facing space constraints. However, she added that no specific locations have been identified yet.

Speaking to The Straits Times, the minister said that the Ministry of National Development (MND) would first work with the GPC to assess the system’s suitability and gather feedback. Currently, mechanised car parks in Singapore are mostly found in commercial buildings like hospitals and condominiums.

The parking wars problem is especially prominent in older estates. Back when these residential areas were constructed, a lower percentage of residents were car owners and fewer parking lots were planned as a result. Such estates now have limited spaces to build on existing car parks or construct new ones because of the build-up of amenities and facilities.

Addressing concerns of the suitability of such systems in residential districts, Lee said, “Residents worry about reliability and the cost being passed back to them. It looks like it costs more, but as technology advances, and land becomes scarce, at one point it could become a viable solution.”

She also acknowledged other potential problems regarding reliability and the time needed for residents to retrieve their cars, stressing that for older estates that have who have no other solutions to ease the parking problem, mechanised parking is a definite option.

According to division manager at MHE-Demag Jeffrey Tan, the mechanised system is able to park 12-15 cars for every 10 cars parked in a normal car park. His firm supplies such automated parking systems as the fully automated M-Park@Club Street.

However, Tan revealed that in its four years of operation, the system has broken down about three times a month. Also, the waiting time for retrieval can also stretch from less than an hour to three hours—a pattern he attributed to factors like mechanical faults of moving parts, as well as a driver not correctly positioning his car.

To park a car with this system, a driver needs to drive his car into a car-lift and park it in the right position, pull the handbrake and key in a PIN. The system will automatically transport and park the vehicle.

“Educating and familiarising the users is a key factor in ensuring it runs smoothly. Once that's done, the incident rates will go down,” said Tan to The Straits Times. It takes an average time of four minutes for a driver to retrieve his car.

The next issue then is the opinion of the public. Lee said that the decision making for mechanised parking would not be similar to that of HDB lift upgrading. The Straits Times quoted her saying, “I would think solving the problems faced by residents is on a case-by-case basis. It doesn't mean residents go and vote to have a mechanised car park system or not. Where there is a need, and there is no other cheaper option, then we would put in the mechanised parking system, should we find it suitable.”

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Ramping up renovation works

Jan 10th, 2012
by Singapore Property Resources and Guides, HDB, Districts and Archived listings.
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The Housing Development Board (HDB) has plans to repair and renovate three times as many old flats as its current rate within the next five years.


(HDB's Home Improvement Programme repairs spalling concrete and structural cracks, among other renovation and restoration works. Image courtesy of Thinkstock.)

Some 160,000 such public housing flats have been earmarked for a makeover under HDB’s Home Improvement Programme (HIP). This is aside from the 50,000 units that are already under the scheme for the last five years. In total, 300,000 flats—one-third of all HDBs in Singapore—built prior to 1987 are eligible for the programme, said the Board.

Some 5,800 of the 50,000 HDB flats have already undergone HIP works, said Minister of State for National Development Lee Yi Shyan in Parliament recently. A spokesperson from the Ministry of National Development (MND) told The Straits Times the remaining 44,200 should be completed by 2014.

With the quickened rate, the remaining 250,000 units can also be renovated over the next decade, said Lee.

His announcement came in response to Ang Wei Neng’s (Jurong GRC) request for an update on the HIP, specifically on repair works to spalling concrete. Lee replied that about 8,300 cases (1% of all HDB flats) of spalling concrete are reported per year.

Older flats built between 1983 and 1986 face more serious problems, said Lee. The Straits Times quoted the MND spokesperson saying that there are 190,000 such older flats.

While homeowners are responsible for ceiling repairs, Lee said that HDB’s Goodwill Repairs Assistance Programme helps to foot half the repair bill should the spalling concrete be a result of water leaks.

Besides providing homeowners with new toilets, doors and refuse-chute hoppers at heavily subsidised prices, the HIP also repairs spalling concrete and structural cracks, replaces waste pipes, and fixes new electrical wiring for free. Each project under the HIP takes two to three years to finish.

In Parliament, Lee also noted that the selection of HDB precincts for HIP depends on factors such as budget, as well as the capacity of the construction industry.

In a separate query in Parliament by Jurong GRC’s Desmond Lee, Senior Parliamentary secretary for National Development Mohamad Maliki Osman said that HDB is “studying” how to install ramps for about 75,000 HDB flats.

Desmond Lee wanted to know if the Board would replace steps at the entrances of these homes with ramps, for the convenience of elderly and disabled residents.

Dr Maliki replied that permanent ramps were mostly not feasible “due to the lack of space along the corridors and the need to comply with fire safety requirements”. He added that HDB is prepared to help find suitable detachable ramps, but residents have to seek approval from the town council for these temporary slopes.

As for a more permanent solution, Dr Maliki added that residents have to get approvals from the town council and HDB.

An MND spokesperson explained to The Straits Times that the ‘steps-to-entrance’ flats were constructed in the mid-1970s to mid-1980s to provide more privacy, because of their prominent locations. As such units are located along common corridors, the height created by the steps limits the view of residents’ homes to passers-by.

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Feng Shui in Singapore for 2012

Jan 10th, 2012
by Singapore Property Resources and Guides, HDB, Districts and Archived listings.
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Life in Singapore remains one of the best options for many around the world as it develops into a safe, world-class metropolis where opportunities are unrivaled.

Guarded from natural disasters, it is further enhanced by its geo-political position as compared to many countries in Asia. Geographically surrounded by the large plains in Malaysia and Indonesia, the natural landscape in Singapore also accounts for good energies that draws prosperity and good fortune. While comparatively flat and compact, it also possesses its own natural undulations which generate great flows of energies, vital to the overall well-being of the country.

Topographically, Singapore sits in a basin where depositories of wealth pour into. While many terminologies have been given to Singapore, it is strikingly similar to the landforms that propel Hong Kong to her international standard of wealth accumulation.

From a Feng Shui point of view, Singapore could be viewed as a land of the Five Dragons.

The Central Dragon - Orchard, Bukit Timah

Nestled in the comfort of its heavenly den is the Central Dragon which is said to be the ‘reserve’ that the country is well-known for. Comfortably settled in the region where Bukit Timah originates, it makes its way to Orchard Central and is believed to rest its head guarding the precious pearl located in the current Mandarin Hotel. These attributes thus account for the demand and interests along the Bukit Timah stretch and the Orchard Road Belt. Moreover, the hills originating from Bukit Timah Hill and the Bukit Timah Nature Reserve are also said to contribute to the never-ending source of wealth.

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The Western Dragon - Jurong, West Coast, Harbourfront, Telok Blangah

From the lush greenery of Jurong comes the Western Dragon that rouses its way along West Coast to Telok Blangah and guards its treasure at the Harbourfront area. The West Dragon is said to be one of peace and benevolence. As such, homes located in the West are noted for its academic excellence and harmony. Homes along the Western front include the prestigious sea front homes, which are receiving harmonious doses of advancement and progress.

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The Southern Dragon - CBD, Vivocity, Mount Faber, Redhill

Where the Western Dragon rests, the Southern Dragon comes alive and straddles between Vivocity and the Central Business District (CBD). This is the Financial Dragon that drums up the necessary energies needed for a vibrant and active financial market. In addition, the Southern Dragon is said to provide the happiness needed for Singapore, thus the locations of the two casinos and theme parks are not surprisingly here. With the ample protection of Mount Faber and the areas around Redhill, these two formations account for more than half of the overall prime districts. Homes here are poised for wealth accumulation and abundance.

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The Eastern Dragon - Tampines, Pasir Ris, Kembangan, Katong

The Eastern Dragon breathes life into homes along the highway. It then makes its way into the extremely lush areas in Katong before sending in a huge dose of good fortune into the Frankel and Kembangan areas. These are the highlights before it makes its way to the eastern end of island - Tampines and Pasir Ris. The Eastern Dragon brings growth, optimism and a sense of community bonding, which eventually leads to great abundance.

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The Northern Dragon - Sengkang, Punggol, Woodlands

Flanking the North-East ridge, the Northern Dragon takes care of the region surrounding Sengkang and the waterfront of Punggol. From a sleepy enclave, the vibrancy of the North cannot be ignored. The Northern Dragon brings to it a sense of rejuvenation and self renewal. Twirling all the way past Woodlands and making its grand entrance near the Singapore Zoo and the Turf Club, it protects the natural reserves of Singapore. This Dragon is believed to offer the blessings of stability and continual progress. As such, you will find the Singapore Sports Institute and the American School thriving there.

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Want to buy a home in one of these prosperous locations? Create a property alert NOW to find your dream home and stand to win S$50 IKEA or S$50 NTUC gift vouchers! Five winners every week! For more details, visit http://edm.iproperty.com/sg/CNY-Property-Alert/. 

This promotion is valid only for Property Alerts created between January 21-26, 2012.



For more articles on Feng Shui, you can visit House of Feng Shui.


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