Property Hunter Magazine Property Hunter Magazine Issue 55 - June 2014 | Page 62

/// International Property News The Asking Price of a Rarefied Manhattan Condo Jumped $10 Million in 24 Hours be worth $10 million more overnight? We won’t know until the aspiring investor-escapee completes the flip of No. 62A. If the entity known as Escape From New York gets its asking price, there will be at least one other satisfied party in the tower: the owner of a three-bedroom unit on two floors below. That unit sold for $30 million last month, too, in a transaction that inspired a bit of real-estate porn in the New York Times: Are you looking to make a quick $10 million in the ultrahigh-end Manhattan real-estate market? You needn’t look further than One57, Extell Development’s slim, 90-story rising over Central Park South. new buyer put the property back on the market for $41 million, a miraculous 32 percent increase in value. This is a sign of what real estate writers often describe as “a frothy” market. The Real Deal, which uncovered the fastappreciating home, describes it as a “4,483-square-foot, 62nd-floor apartment [featuring] four bathrooms and floor-to-ceiling windows.” It must be adorable. But could such comforts A three-bedroom condo in the building sold for a record $31 million in April to a mysterious buyer known as Escape From New York LLC. The sale was officially memorialized in public real estate records on Tuesday. Then, on Wednesday, the “The apartment, No. 60A, has fourand-a-half marble baths and the ultimate view magnet, 60 feet of park frontage in the living/dining/ entertaining area. The master suite has his-and-hers baths and bird’seye views of the city and the Hudson River. The custom eat-in kitchen by Smallbone of Devizes has handpainted white cabinetry (although buyers at One57 do have the option of choosing a Macassar ebony color scheme). ” Throw in the optional room service—wouldn’t you expect it at this price?—and such opulence suddenly seems like a bargain at only $30 million. Big Drop in March New Home Sales Number of units Riversuites which moved 44 units at $1,109 psf and RiverTrees Residences where 35 homes were taken up at $1,129 psf. Sales of Private Home (inc. ECs) 3,500 3,000 2,500 2,000 1,500 1,000 Source PropertyGuru / URA Sales of new private homes in Singapore fell by about 34 percent monthon-month during March to reach 480 units, according to public data published today by the Urban Redevelopment Authority (URA). In February, the total number of private homes sold by developers, including ECs was 769 units. Looking at March 2013 when 3,072 units were sold, the year-onyear decline is a massive 83 percent. Including executive condominiums (ECs), the number of units sold increased marginally to 535. The top-selling project last month was The Santorini which sold 76 apartments at a median price of $1,108 psf. This was followed by Eight 62 www.PropertyHunter.com.my Mar - 14 Feb - 14 Jan - 14 Dec - 13 Nov - 13 Oct - 13 Sep - 13 Aug - 13 Jul - 13 Jun - 13 May - 13 Apr - 13 Mar - 13 Feb - 13 0 Jan - 13 500 The most expensive property sold in March based on median psf pricing came from Cluny Park Residence with one unit at $2,825 psf. Skysuites @ Anson was second with one unit sold at $2,817 psf, followed by Marina Bay Suites which moved one unit at $2,787 psf. Sales of new private homes as well as the number of projects being launched has generally declined. Sales in December 2013 were at 333 units, which was a fiveyear low for the city-state. According to URA, prices as well as the number of units sold during the month are based on the Option to Purchase (OTP) issued by developers to buyers. An OTP is a right or option given by the vendor to an intending purchaser to buy the property at a specified price within a specified period of time - the validity period of the option. The intending purchaser must pay a booking fee of between 5 – 10 percent of the agreed price for this right or option. The purchaser has to exercise the OTP within its validity period if he decides to buy the property. A Chinese Company 3D Printed 10 Houses in a Day There’s a lot you can do with a 3D printer. Now add “building a house in a day” to the list. Make that 10 houses. The WinSun Decoration Design Engineering Co. has printed 10 homes in 24 hours out of recycled materials. This isn’t the first attempt at 3D printing large structures in a short amount of time. Researchers in California are making a printer that can build a house in 24 hours. In Amsterdam earlier this month, construction of a 3D-printed house began. The house made out of plastic bricks that fit together like Lego. It’s also being printed onsite. The Chinese houses, on the other hand, weren’t built onsite. They were printed in pieces and then put together in Shanghai’s Qingpu district. The pieces are made using recycled construction materials and industrial waste to form a concrete aggregate, Gizmodo reports. The 3D printer used to build the houses is 500 feet long, 33 feet wide and 20 feet high. Each home costs around $4,800. “We purchased parts for the printer overseas, and assembled the machine in a factory in Suzhou,” the company’s CEO, Ma Yihe, told 3ders. “Such a new type of 3D-printed structure is environment-friendly and costeffective.” This Chinese City’s Property Market Is Even Chillier Than Its Weather gates opening to the International Olympic City project in Yingkou. Here One of thegates opening to the International Olympic City project in Yingkou“We’re in the frigid, wind-battered northeast currently finding a lot of difficulties in Chin \