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.

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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 

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