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 

Survey ranked Singapore as the nicest city to live in Asia for expats, with the best infrastructure in the world

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.

Singapore topped consulting firm Mercer's list of cities in Asia offering the highest quality of life, and its infrastructure was deemed the best in the world.

Vienna, Austria's grand capital on the Danube river, was the world's best place to live for the eighth year in a row, while Baghdad was again considered the worst. Globally, Singapore was ranked No 25. Click here to Read more

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).