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  • The Ultimate Guide To Be A Smart And Successful Real Estate Investor

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    posted in Notice Board [From Denzity]
  • RE: Why does Singapore have 999 year land leases?

    Singapore is a tiny country, geographically.
    The 999-year land lease was a compromise for Singaporeans who
    attained a bit more success and wealth and wanted to leave something (usually a house) for their later generations. The compromise was that the Government wanted to ensure that at some point in the far future, they could always get it back for future redevelopment.
    In the case of Freehold (Fee-in-Simple) Land, the Government can only get it back in a few ways:

    1. The Compulsory Land Acquisition Act. Not a popular move, historically.
    2. The owner dies without any beneficiaries and no valid Will.
      If the owner had no spouse or kids, but there’s a valid Will, it goes to the new beneficiary.
      Hence, Freehold is excellent (for a handful of wealthy citizens), but not so good for a
      The government whose charter is to benefit the masses, e.g., the land could be used
      for a school or a community club.

    ===

    I think it is a leftover from the British era, and the British have this as a carryover from its historical common-law roots where 999-year lease are assumed to be “permanent” in nature.
    Do remember Hong Kong was leased for 99-years, and the reason for that was back then they think it is “as good as forever.”
    For practical purposes within Singapore, a 999-year lease are currently assumed to be freehold (permanent leasehold) for valuation purposes and generally will fetch a fair value with freehold. This is partly because most 999 year leases in Singapore have about 850 years more to go. Singapore does not have new 999 year leases for now.

    posted in Singapore Real Estate Market
  • RE: What is the procedure to get an estimation for an Amber Park condo in Singapore?

    Hi,
    Amber Park’s prices vary between 2600 and 2800 psf. However, prices may be subject to changes and are yet to be confirmed.
    After considering adjustments, a more accurate price estimate will be provided. Depending on an apartment's size and features, the value thereof is also likely to vary.

    To remain up to date with updates, online users can register on Amber park. Pricing for Amber Park gets worked out to the land rate that closest to S$1515 per square feet per plot ratio (PSF PPR).
    The residential apartments, which are most affordable, are priced from 1m and onwards. Looking at the median price range, condos are likely to range from $2300 and $2400, which includes marketing and legal services, misc — costs, etc.
    This also puts the selling price of Amber Park Property, at between $2400 and $2800. Estimates are based on the effort basis, along with historical trends, profit margins, and various costs, including marketing, land, and construction costs.
    Considering that Amber Park offers luxurious apartments, which are not only constructed as a general residential property but are specially designed and curated according to modern architectural plans, it's price may be slightly higher than average costs.
    I hope this helps

    posted in Singapore Real Estate Market
  • RE: Why is the property price in Singapore rising day by day?

    The demand for accommodation is rising day by day, and the new launch properties, where various luxurious condos and others are increasing to measure the scale pan. This will amount to approximately 20,000 private residential units, which in return may result in a sensitive price hike in 2019. As per the price study of the last 10 years, the price of private properties has increased by about 80% to 90%. For example, the average price of a two-bedroom condo was about $6.5 lakh a decade ago, which is now available at $1.25 million.
    These are several factors those considered by the developer before pricing a new launch property in Singapore, such as;
    The government’s cooling measure is the primary reason for the price hike.
    The cooling measures caught the market by surprise. They compounded the negative returns for real estate developers with significant exposure to the Singapore residential market will be followed by the price growth. As the Government of Singapore announced on 5th July 2018, a hike in Additional Buyer's Stamp Duty (ABSD) rates and also tightening loan-to-value (LTV) limits on residential property purchases. This process is useful to keep the price hike in line with the primary economic fundamentals, as an initiative to cool the property market. These will continue to suppress the market going into 2019 as the price for purchasing a property in Singapore will be increasing for the same, except for Singapore citizens and first time home buyers.
    The hike in interest rates in recent years affected the property prices.
    The quantity of new and unsold properties of Singapore is going up day by day, which caused some concern with developers of unsold inventories with planning approvals increasing by a measurable unit. As per the result in private residential price growth came in near the low-end as per their forecast of 8%-10% in 2018. Also, the abundant supply of units is coming on stream that effecting the interest rates to rise accordingly.
    The rising demand for properties is also another critical factor for the price hike.
    The price always rises with demand, and this resulted as a significant price hike for the new launch properties in Singapore, but the demand is there at growing to compensate for this. Nevertheless, the previously concluded deals could still present sizeable opportunities as several relocating households may have the intention to purchase replacement or resale properties, as well as the owners of more than one property, may intend to sell one of them, to take the profit opportunities from the tentative property price growth in Singapore.
    Also, the urge to increase the incentives of property agents can be measured as another factor.
    The professional property agents in Singapore are highly organized and have the best knowledge of real estate market, which includes the listing of existing properties as well as the new launch properties in Singapore, which effects as a great help for the tentative buyers also the real estate developers from their selling perspective, thus the developers may persuade to increase commission fees to incentivize property agents to boost their selling efforts amidst the intense competition in the real estate market of Singapore.
    But in spite of price hike, the new launch properties are still an excellent prospect for investment and make a profit out of that, by selling that once the minimum occupation period is over, you can earn a good return from that.

    ===

    There may be several reasons, but the ultimate goal is “DEMAND.” The outgrowing population creates a demand for properties.

    posted in Singapore Real Estate Market
  • RE: Where can I find information about Riviere in Singapore?

    Hi,

    All information for the Riviere and its continual development, including floor plans, can be found on the Riviere website.
    Upon entering the site, you will notice that all necessary information has been constructed expertly, for users to access whatever they need.

    3505ee87-ad55-4dae-a4ec-fe997b866c33-image.png

    Unfortunately, not all the Riviere’s condominium floor plans have been released yet. However, when registering on the website, you’ll gain access to the floor plans preview first.
    Should you want to schedule a site visit or meet with our developers, you can contact the Riviere on their website, request a call, or make your way to the ‘Contact’ section, where you will find contact numbers and an email address.

    d48f15fa-fe42-42f5-ba40-f2aa6aedfdd8-image.png

    To access the latest information and updates about the progress of the condominium developments, you can stay tuned on the site, or contact the Riviere directly for any queries you may have.

    This brand new and luxury lifestyle development is a private development, situated along the Singapore River, and consist of three conservation warehouses that will be restored, which furthermore adds to its heritage appeal, natural tranquillity, and is set to be a location that will attract locals, tourists, and investors.

    Thanks and Cheers

    posted in Singapore Real Estate Market
  • RE: What are the basic differences between apartments and condos in Singapore?

    A person is known by the status of his living, so if you are new in Singapore and looking for a pleasant place to live in, the service apartment or the condos for sale in Singapore are the best and most convenient option for you to avail. Service apartments and condos are almost the same kinds of private housing, although condos will often come with a few more high-end appliances and upgrades. But there is a distinct difference between an apartment and a condo mainly is ownership. Here we will discuss the primary difference are as follows;

    • As condos are owned by individuals, and the owners have the right to change the interior and exteriors of their condos at their discretion. Alternatively, apartments are usually owned by more than one person so that they can rent their units as per their requirements. For that reason, the renters of apartments are not allowed to change any features related to the interior or exterior of that property.
    • Apartments are leased to tenants for a pre-designated time, while condos are owned by individuals who either live in them or rent them out to others. So the apartments are available only under the lease, while condos can be owned and resale.
    • Also, condo owners usually pay homeowner association fees to share the costs of maintaining the joined living structures collectively. At the same time, for an apartment, all such charges are included within the rental amount.

    The bottom line:
    As per the housing rules of Singapore, foreigners cannot purchase any public housing options, so for them, the private apartments or condo for sale in Singapore is the prime option to avail. Many of us need to stay far from our homeland for our job or business purposes. Now if you are in Singapore for your occupation purposes, then you should follow the points mentioned above, to search for a place for a pleasant stay in Singapore.

    posted in Singapore Real Estate Market
  • RE: At such high property prices in Singapore, why are locals in Singapore still buying brand new developer sales at records prices? They pay high per square feet prices and many also pay the additional buyer stamp duties of 12%, why?

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    There are many reasons why locals continue to buy new launches in Singapore even if they have to pay the additional buyer stamp duty.
    The locals are not the only ones buying. Informed foreigners who have to pay up to 20% additional buyer stamp duty are also buying.
    Here are eight common reasons why they do so.

    1. Real estate has always been a good hedge against inflation.
    2. Land and construction costs will go up with time, which ultimately translates to higher prices further down the road.
    3. The land is exceptionally scarce in Singapore, and the rise in population (both residents and non-residents) over time is expected to provide support for prices.
    4. Singapore's real estate planning and development are driven by the URA's master plan. The master plan sets out the plans and directions that the government has for the different parts of Singapore.
      The developments outlined in these plans serve as catalysts for future price increases. The buyers study and follow the government's directions and buy into new launches in areas that are undergoing a transformation.
      Based on past trends, these properties are expected to see price appreciation when the government's plans come to fruition in time to come.
    5. Singapore is politically stable and is seen as a haven for both locals and foreigners to park their assets.
    6. Singapore's property market is not speculative (because of both additional buyer & seller stamp duty) and attracts investors & buyers who look for sustainable growth.
    7. The monthly mortgage that is payable for new launches is lower than resale properties because of the progressive payment schedule for new starts.
    8. Buying new launches allows the buyer to leverage (provided they are eligible to take a bank loan). When the price goes up upon TOP (building completion), the ROI achievable is very attractive even with the taxes factored in.
      I did a study recently to see how buyers who bought new condos launched in 2014/2015 performed when they sold these units off when construction was completed in 2018/2019.
      Did they make, or did they lose money?
      See this Singapore new launch study to see how they did.
      Having said the above, on a side note, holding power is extremely important in real estate. Most people lose money in real estate because they are forced to sell at the wrong time.
      Note:
      Nationals from the following 5 nations do not have to pay additional buyer stamp duty (because of free trade agreement) when they purchase their first property in Singapore.
      Liechtenstein
      Iceland
      Norway
      United States
      Switzerland
      Unfortunately, my gut feeling is that not many nationals from these 5 nations know about this.
      Please do a check again where taxes (& rules) are concerned if you are thinking of purchasing a residential property in Singapore as the above info is subjected to changes anytime.

    ===

    Possibly they are still bullish in their view of the market potential in the next 6 to 10 years.
    However, there will be some buyers who bought these properties because they were "too rich" and do not know how else to spend their monies.
    The 3rd reason is that some "richer folks" believe in making money through earning passive rental incomes. Some of these high priced properties do fetch excellent rental incomes, primarily if they are located in busy city areas or near very populated business districts.

    ===

    What choice do they have? They don't have PR or citizenship anywhere else except that tiny island that is smaller than many other cities.

    posted in Singapore Real Estate Market
  • RE: Why do people in Singapore buy HDB resale flats when they can buy a new BTO one directly from HDB?

    There can be a few reasons for this.
    Waiting time
    New BTOs are yet to be build or are in the process of building vs. ready-made relatively "young" resale flat. There are people not willing to wait a few years for the flat. So they chose resale
    Location
    No one will know the way in advance of the location of the next BTO release. The couple may find the BTO release locality, not to their liking. So they may buy a resale flat.
    Restrictions
    Singles can only buy two rooms BTO in a non-mature estate. Whereas for resale, they can buy any in the open market.
    Proximity to parents
    There's a grant by the govt when they buy a resale flat close to parents. If they stay close to parents, they can also help each other out more often. If BTO flats are not released close to their parents' home, they may just buy resale.
    Rejection by HDB
    There are couples still not getting a queue number for their flat after ten tries. Such couples will try resale.
    I like for old flats.
    There are some who find new flats too small. Resale flats before a particular year are bigger than current BTO flats.
    Near primary school
    In Sg, criteria for primary school enrollment is proximity to the school. Families living within a 1km radius of the school will often get priority over those staying further away.

    posted in Singapore Real Estate Market
  • RE: Why do foreigners still buy real estate in Singapore despite the 20% tax?

    Many Ultra rich/high net worth rich people aren't particularly worried about the income they derive from the investment. Their primary concern is the safety of their money, their family, and themselves.
    These people need to park their money.
    Singapore is a leader and is the most stabilized and Prosperous country among its peers in the whole of southeast Asia. It offers excellent governance, security, banking, infrastructure, and investment opportunities. Which other nation can you think of; Cambodia, Laos, and Vietnam are communist, Thailand, Philippines, and Malaysia have been experiencing political instability, Brunei nearly doesn't exist in overseas investing, Indonesia had severely burnt hands of many investors in the past..
    What Singapore provides comes at a cost that the foreigners are ready to pay willingly, and the Singapore Government is smart enough to tap into this weaknesses and insecurity and turns these into opportunities for both.
    Long live Singapore!!!

    posted in Singapore Real Estate Market
  • RE: What is the percentage a property agent takes on selling retail units in Singapore?

    Typically, agents charge 2% for selling in Singapore.
    This can be negotiated down based on the price. If your unit is worth $1,000,000, then 1.5% is 15k, which is still good money, so many will take it. The higher the price, the lower you can push the %.
    You can contact the guys on Propseller to bring the commission down to as little as 1%. I hope it helps.

    posted in Singapore Real Estate Market