Looking To Buy Property In Singapore: 2017

Shorter, streamlined process for HDB resale transactions from next year.

The new HDB Resale Portal to be launched next year aims to shorten the resale transaction process by up to eight weeks, down from the current 16 weeks.
The Housing and Development Board (HDB) will launch a new resale portal to reduce the transaction time for buying and selling HDB flats, it announced on Thursday (Oct 19).

Minister for National Development Lawrence Wong had earlier announced in this year’s Committee of Supply debate that his ministry will leverage technology to streamline the transaction process for resale flats.

The $100 Billion City Next to Singapore Has a Big China Problem

If you are considering buying properties as investments in Iskandar, Johor, do be careful as there were just too much supply, therefore no resale market. Similarly, no tenants because of insufficient employment in the offices and factories.

A model of the Forest City development at the Country Garden showroom in Johor, Malaysia.

PHOTOGRAPHER: ORE HUIYING/BLOOMBERG

This report from Bloomberg say it all. Click here to read the report.

Although Singapore government implemented property cooling measures in February year 2010, properties here is still best buy as it is regulated and controlled. The only problem you face will be your loan. Can you hold the property for 3 years? If yes, no issue as you can sell off after 3 years without any extra tax ( SSD=Seller Stamp Duty ). See chart below.

New private home sales fall for 2nd month

As seen from The Straits Times, 16 June 2017:

New private home sales fall for 2nd month

Developers sold 1,024 homes (Excluding ECs) in May 2017, a fall of 34 per cent from 1,558 units in April. Developers only released 339 condo units in May, compared to 1,616 in April. However, buying sentiments has been positive with new sales exceeding 1,000 units for three consecutive months. Home buyers who have been sitting on the fence seemed to be getting back in the market.

CEO, PropNex Realty Mr Ismail Gafoor highlighted, “More consumers will come to a realisation that the market has bottomed out and prices are likely to inch upwards with strong land-bid prices we are witnessing.” He expects the number of new home sales transaction (Excl ECs to cross the 10,000 mark by end of 2017.

For more, read our press release at https://www.propnex.com/pressrelease/319

http://www.businesstimes.com.sg/real-estate/upbeat-mood-holds-sway-despite-drop-in-developer-sales-in-may

Former HUDC estate Eunosville sold for S$765 million in en-bloc deal

Privatised HUDC estate Eunosville, near the Eunos MRT Station, has been sold for S$765 million to MCL Land in what is the fourth en-bloc deal here this year.

Based on the sale price, it is the second-largest former HUDC estate to be sold collectively after Farrer Court, which was transacted at a record S$1.34 billion in 2007 to CapitaLand.

The price was much higher than the S$643 million to S$653 million the owners had asked for when the site was launched for tender in April.

The deal came on the heels of last week's sale of Rio Casa estate in Hougang and mixed-use development Goh & Goh Building in Upper Bukit Timah Road, and One Tree Hill Gardens in the prime District 10 last month.

Marketing agent OrangeTee said the sale price for Eunosville, with the addition of an estimated differential premium of $194 million, works out to a land cost of S$909 per square foot per plot ratio (psf ppr).

The differential premium is payable to the State to enhance the intensity of the site to a gross plot ratio of 2.8 as well as to top up the remaining lease term to 99 years.

The 330-unit Eunosville comprises 255 maisonettes over six residential blocks and four walk-up apartment blocks with 75 units.

Each owner stands to receive a gross sale price of S$2.25 million to S$2.41 million upon the successful completion of the sale, OrangeTee added.

Source From Here

Developers’ hunger for Singapore land is signing Property comeback

Developers’ hunger for Singapore land is adding to signs that the city’s housing market is making a comeback after three years of price declines.

As new home sales surge after an easing of property restrictions in mid-March, developers are becoming more aggressive in bidding at land auctions. On average, they’ve paid a 29 percent premium, the highest level in at least five years, according to broker Cushman & Wakefield Inc., which makes comparisons with the past prices of similar properties.

“Sentiment has changed,” said Christopher Tang, chief executive officer of Singapore at developer Frasers Centrepoint Ltd. “The general sense is that the market has bottomed out and like many of the developers in Singapore we are a bit landbank-starved -- we are keen to build our land bank.”

A land auction last month attracted a record 24 bidders, amid swelling demand from Chinese and Malaysian developers. Home buyers are snapping up units at developments like the Seaside Residences condominium, east of the city. New home sales more than doubled in April from a year earlier, a report on Monday showed, after a surge in March to the highest level in nearly four years.

With effect from 15 May 2017, the maximum number of unrelated occupants that may be accommodated in a property is six.

Private residential properties may be rented out to no more than six unrelated persons from Monday (May 15, 2017), according to a letter sent out to real estate agencies by the Urban Redevelopment Authority (URA) on Thursday (May 11, 2017).

The current cap is eight unrelated persons.

Existing tenancy agreements with seven or eight tenants will be allowed to run their course until May 15, 2019.

The new occupancy cap will apply after that regardless of whether the tenancy agreement expires after the implementation date, the letter stated.

The letter added that landlords must comply to the new rules or may be subjected to investigations.

The changes were passed in Parliament as part of the Planning (Amendment) Bill in February.

Previous reports have said apartments that are rented to more than six unrelated tenants will be treated as dormitories and would require URA's approval.

Find out more at URA website

Analysts point to brisk sales and improving sentiment even as private home prices fall for 14th straight quarter

Prices fell across the private residential, commercial and resale public housing segments in the first quarter, with the losing streak for private homes extending to 14 quarters - the longest slump in 13 years.

But analysts said the slower pace of decline and brisk sales in the first quarter suggest the market could bottom out this year.

Overall private home values dipped by 0.4 per cent from the fourth quarter to the first, led by the landed property segment, data from the Urban Redevelopment Authority showed yesterday.

The price drop was slightly smaller than the 0.5 per cent fall from the third quarter to the fourth.

Private home values had fallen by 11.6 per cent as of March 31 since a peak in the third quarter of 2013, as cooling measures tamed demand.

Sentiment has turned more positive in recent months - owing to the easing of cooling measures last month and an improvement in the economy - drawing buyers back.

The first quarter saw the highest private home sales in 15 quarters at 5,202 units - including 2,962 new sales but not counting executive condos (ECs), and 2,170 resale transactions. Healthy sales led to unsold inventory of uncompleted private homes hitting a record low of 15,930 units, excluding ECs, as of March 31.

In public housing, resale prices fell by 0.5 per cent in the first quarter, the Housing Board said. It was steeper than the 0.1 per cent slide from the third to fourth quarter.

Source from : http://www.straitstimes.com/business/property/pace-of-decline-slows-amid-property-slump

What happens to your money after you sell your flat in Singapore

Everyone in Singapore should fully understand what really happens to our money once we have sold our HDB flat, private condominium or landed property in Singapore.

This is so we can prudently use the money we have for financial planning purposes - investing, buying another property, even starting a business or promising to pay for your children's education.

Often, people receive less in cash than they had expected for various reasons.

If they commit to using the bulk of that money for other purchases or investments, they may be in for a rude shock after seeing the cash balance in their bank accounts.

Things to consider before selling my home

We will not delve too deep on what goes on from a transaction standpoint. Rather our focus will be on the money.

There are several steps to selling your HDB, first of all, you should know if you have fulfilled the MOP (Minimum Occupation Period) before you engage an agent or go about selling your home on your own.

If you're selling a private property, you have to consider the Seller's Stamp Duty (SSD), which applies to sellers who are offloading their property within three years of purchasing it.

Read further for more details at : http://news.asiaone.com/news/business/what-happens-your-money-after-you-sell-your-flat-singapore

Difference Between Buying A Property To Live In and Buying One For Investment.

You need to define your reason in the first place before you commit to a private residential property purchase.

It's either you buy to live in it or you invest in it, these are the only two reasons for owning a private residential property in Singapore

The difference between buying a property to live in and buying one for investment:

For Live In:
If you intend to live in it yourself, your main considerations are the location, your budget and unit size. For a single, it make sense to buy a small unit like a studio and 1 bedroom.

If you are married with family or newly wed, you and your spouse might opt for a modest size unit that is spacious and more bedroom.

For Investment:
If you are buying a property as an investment, your main concern is the rental yield that the property can generate for you. You do not really need to worry about whether the property suit your needs or not. Instead your main concern is finding interested tenants or buyers willing to meet your price.

Giving the current market condition and cooling measures that are in place in Singapore, 2017 is still a buyers' market and it is an excellent opportunity to take stock of one's existing properties and re-organize the property portfolio.

Interest rates are extraordinarily low in Singapore and the current interest rate of around 2% is unusual.

Given the possibility of slower sales as home buyers are more price - sensitive amid the tighter loan requirements, property developers are more cautious in their pricing strategy.

Click here for more information on Artra - Mixed Development property

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Investing in Singapore property is one of the best bet as Singapore has the best infrastructure and security for your family to live in. If you are keen to know more information, click this link: contact me.

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A sign of better market sentiment in Singapore Real Estate as jump in private home sales.

200 units was sold in February alone at Parc Riviera. If you are looking to buy a property now, wait no longer as below report shows that prices are right now for buyer to flock to the show flat.

Read more at below link to find out why now is the time to buy !

Demand for new private homes recorded a third straight strong month in February

Changes made to the Seller Stamp Duty as announced by the government of Singapore.

With effect from 11 March 2017, the government will implement changes to the Seller’s Stamp Duty (SSD) as according to a statement from the Ministry of Finance and Ministry of National Development on Friday (10 March 2017).

Currently, the Seller Stamp Duty (SSD) is paid by homeowners who sell their residential property within four years of purchase, at rates of between four percent and 16 percent of the property’s value. Since this measure was introduced in January 2011, the number of property sales within the four-year window has fallen significantly.

As such, the government will now reduce the holding period for imposing SSD from the current four years to three years. The SSD rate will also be lowered by four percentage points for each tier. The new rates will range from four percent for properties sold in the third year to 12 percent for those sold within the first year.

Some property analysts expect a modest boost in home sales in 2017 after the change in the seller stamp duty ( SSD) rules take effect.

Why Buy an Executive Condominium?

Executive Condominium ( EC ) is a hybrid between public and private housing, It cater to the needs of the “sandwich” class — those whose household incomes exceed the ceiling for public housing but are not quite yet able to afford a private property. As such, ECs come with a set of eligibility criteria to ensure affordability for this select group.

Executive Condominiums (ECs) have been among the best-selling projects lately.

Applicants must either form a family nucleus or join up with other singles if they are at least 35 years old. They must also not exceed the household income ceiling of S$14,000. Only Singaporean couples and Singaporean/permanent resident couples can buy an EC unit. Also, buyers have to fulfil a mandatory five-year minimum occupation period (MOP) before they are can rent out or sell the EC unit.

The greatest draw of ECs is surely the fact that while they start out as HDB property, in 10 years' time they will be officially recognised as private property.

ECs come with a full suite of condominium facilities and are generally comparable to private developments in design. For those who choose to buy an EC are doing so for the lifestyle. Essentially, an EC is a subsidised private condominium.

Where to buy an EC ?

Sol Acres EC is a 99-years leasehold Sol Acres development located at Choa Chu Kang Grove in District 23. With expected completion in mid 2018. It is situated right beside Keat Hong & Teck Whye LRT Station. Future residents will be able to access the nearby Lot 1 Shopper's Mall and Keat Hong Shopping Centre for some family fun and gatherings. A truly unique lifestyle awaits you.

Sol Acres EC has full and unique facilities, which includes a guard house, clubhouse, Function Room & Indoor Gym, Tennis Court, 50m Free form Pool Pool Deck, Wading Pool, Splash Pool & Family Pool Jacuzzi & Hydro Spa, BBQ Area Dining and Play Fountain, Fitness Alcove & Children's Playground and Garden Trail.

The condo's facilities provide full family entertainment needs for your family and loved ones. Indulge in a serene and tranquil lifestyle right in the heart of Choa Chu Kang.

Sol Acres EC - 365 days of Happines Sol Acres is a 1st MEGA EC in Singapore with 1-bdrm units, and also consist of 13 blocks of 1327 units (NS orientation).

To buy or not to buy a property now?

The mood in the real estate sector in Singapore has been mostly gloomy for a while but sentiment has clearly improved from this time last year with talk that prices could start bouncing off the bottom.

Owning an investment property and collecting good rental income is one version of the Singapore Dream wafting through show-flats everywhere.

Real estate investment - once considered a no-brainer has become more complicated in recent years, with changing market dynamics brought about partly by new government policies and measures to cool the market.

The prospect of an improving property market outlook, cheap loans and relatively more affordable small apartments have lured many investors back to real estate.

Property remains an attractive long-term investment, but thorough consideration must be made - beyond just interest rate movements and location of the project - before investing in one.

Those looking to invest in property now take a longer-term investment horizon, as there is limited potential for short-term gains, unlike in the past when prices could appreciate by 60 per cent in a few years.

Investors have to consider the cash-flow potential of the property and whether it could cover mortgage and running costs, and need to be prepared for negative cash flow for the periods that they cannot find a tenant.

Parc Riviera at West Coast is one new project that is attracting many investors as 1 bedroom has sold out and not many 2 bedroom left.

If you are looking to invest a property in Singapore, you can consider the West area of Singapore.

The newly launch Parc Riviera Condominium development will be a good consideration. Why ?

Below explain more.

I would like you to check these few of the Singapore Government's announcements to show you the Big Picture of the Future Jurong Transformation.

The on going and Upcoming Jurong District Transformation ...

1) Jurong District Innovation - http://www.straitstimes.com/…/singapore-budget-2016-new-jur…
https://youtu.be/9cT3RgC906U

2) Jurong Lake District - Prime Minister Lee Hsien Loong's 2014 NPR for your info. https://www.youtube.com/watch?v=RnxvKtShG_M

3) HSR (High Speed Rail) - The Travelling time from Malaysia, Kuala Lumpur to Singapore will be in Just 90 mins. https://www.youtube.com/watch?v=0p29glX5648

4) Tuas Mega Port - https://www.youtube.com/watch?v=zc1KbE-8z4c

5) Cross Island MRT line (yet to confirm) https://www.youtube.com/watch?v=c7xViJb8MVs

https://www.lta.gov.sg/…/pu…/projects/cross-island-line.html
http://www.sgtrains.com/network-crl.html

As you can see in the report that there will be a station in WEST COAST. Parc Riviera is seated on the Park Connector itself. With the help of the above, I hope you can see the Big Picture of Jurong Transformation now. So now, ride onto the Government's Master Plan.

Parc Riviera is selling fast as 1 bedroom has already SOLD OUT. So don't miss this LOW entry price. Check out more details at Parc Riviera now !!

A new and exciting mixed property development is set to launch at Alexandra View

A new and exciting mixed property development is set to launch at Alexandra View. This innovative ARTRA Mixed Property Development @ Alexandra View by Tang Group will include private condominium units and commercial spaces on the first floor. With its impeccable location – literally right next to Redhill MRT, and minutes away to Orchard, CBD, One-North and Vivocity – a huge demand to potential buyers is expected on this development.

PROJECT DETAILS

Project Name : Artra Condo

Address : 10 Alexandra View

Developer : Tang Skyline Pte Ltd

Tenure : 99 Years

No of Blocks : 1

No of Storeys : 43

No of Units : 400 Residential Units
Retail unit : 21

Estimated TOP : 2021

Residential Unit Mix

2 Bedroom

2+S Bedroom

3 Bedroom

3+S Bedroom

5 Bedroom

Facilities ( at 3rd Level )- Clubhouse
- Pavilion
- Tennis court
- Swimming pool
- Kid playground ( at 2nd level )
- Childcare centre ( at 2nd level )

Key reasons to buy Artra:

- Living next to Redhill MRT Station
- Integrated property with retail shops like supermarkets, F&B, and childcare centre

- Living on the fringe of the city promises a peaceful home yet a short commute away from it

- Numerous shopping options await you be it by foot, MRT, or Car
- Many famous foods located at nearby coffee shops and hawker centres

- Easy access to major highways of Ayer Rajah Expressway (AYE) and Central Expressway (CTE)

- Many schools like Cresent Girls, Gan Eng Seng, in the vicinity give you plenty of choice for the different stages of your child’s education

- High Rent-ability ( Close proximity to CBD )

The Artra Condo is a 99-year leasehold condominium built beside Redhill MRT station.

Property Developers in Singapore off to good start in housing sales

Property developers in Singapore got off to a good start in housing sales this year, based on the latest government numbers, and industry players are sanguine this will set the tone for the rest of the year as well.

Urban Redevelopment Authority ( URA ) data shows that developers moved 381 private homes (excluding executive condominiums or ECs) in January - up 3.8 per cent from December's 367 and 17.6 per cent higher than the 324 in January 2016.

The year-on-year (y-o-y) sales improvement contrasts with the report card for January 2016, with declines of 15.6 per cent month on month (m-o-m) and 13.8 per cent y-o-y.

Despite the lead-up to the Chinese New Year festivities last month, market sentiment and outlook at the beginning of 2017 are more positive than at the start of 2016, when sentiment took a dive amid stock market volatility. Read more at Business Times Singapore website.

If you are looking to buy a property in Singapore, now maybe a good time to buy. Do contact me should you need more information on Singapore property.

Why buy Parc Riviera?

Parc Riviera is the new condominium development set to be the jewel along Pandan River. It is the tallest condominium in the west area of Singapore.

With an unblocked view of Bukit Timah Hill, Bukit Batok and Bukit Panjang, it is the latest deal for buyers and investors. Not to mention that at the price of below $1,200psf, buyers are already enjoying huge discounts.

Parc Riviera is strategically located near Singapore's 2nd CBD, we are expecting High Speed Rail and Jurong Lake District development around the vicinity which will boost rental demand and potential in capital appreciation in the long term. See this report ( Singapore Budget 2016: Jurong Innovation District to be set up; first phase ready by around 2022 )

Watch this video by our company CEO Mr. Ismail Gafoor on Parc Riviera.

If you are interested to find out more, check it out at Parc Riviera Condo

Is It A Good time to buy that dream home?

Home seekers who have taken a wait-and-see attitude may be more encouraged to dip their toes in the property market this year.

The sector is experiencing an upturn in sentiment, thanks to private home prices declining at a slower pace and increased sales.

Buying property is a big financial and long-term commitment for most of us.

So, we should do our homework when it comes to financing.

When deciding to buy a property, consider your ability to pay the mortgage when interest rates and your circumstances change.

It is prudent to ensure that you have sufficient funds set aside to cover your expenses, including home loan repayments.

So, it is important to be brutally honest and not take on more debt than you can afford when buying a property or other big-ticket items.