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.

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