Friday, July 24, 2009

Property Launches Optima@Tanah Merah

As posted in www.h88.com.sg
on 24 Jul 2009 by John

H88.com.sg Property Launches Optima@Tanah Merah to be launched

Optima@Tanah Merah to be launched

The 297 unit, 14-storey Optimah@Tanah Merah is to be l@unched @ the end of the month. The 99-ye@r m@ss m@rket condo is loc@ted right next to T@n@h Mer@h MRT.

Developed by TID Pte Ltd, a joint venture between Mitsui Fudosan of Japan and The Hong Leong Group, this District 16 project is expected to TOP in 30 June 2014. There will be five 14-storey blocks with full condo facilities, including a 50m lap pool and basement parking of 297 lots.

Number of units and estimated Unit Sizes (sqft)
32 x 1 BR (504 - 596)
79 x 2 BR (714 - 1,400)
70 x 2+1 BR (984-1,699)
70 x 3 BR(1,211 - 2,020)
18 x 3+1 BR (1,268 - 2,392)
28 x 4 BR (1,456 - 3,046)

Esimated Prices
S$750 to S$800 psf*

*Source - Business Times

Friday, July 17, 2009

Property Launches Meadows at Pierce

As posted in www.h88.com.sg
on 17 Jul 2009 by Yeo ZH

H88.com.sg Property Launches Meadows at Pierce

Meadows at Pierce

Meadows at Pierce is a freehold development located along Upper Thomson Road, right across the Pierce Reservoir. It consists of 479 units housed in one 14-storey block and three 5-storey blocks.

Units include:

1 bedroom: 4 units ~ 499 sq ft
1 + 1 bedrooms: 48 units ~ 526 sq ft
2 bedrooms: 86 units ~ 975 – 1229 sq ft
3 bedrooms: 147 units ~ 1159 – 1763 sq ft
3 + 1 bedrooms: 48 units ~ 1182 sq ft
4 bedrooms: 74 units ~ 1593 – 2090 sq ft
5 bedrooms: 15 units ~ 2485 – 2679 sq ft
Ground maisonettes: 8 units ~ 2641 – 2686 sq ft
Penthouse: 49 units ~ 2030 – 3053 sq ft

Prices as yet unannounced.

Property Launches Waterfront Key

As posted in www.h88.com.sg
on 17 Jul 2009 by Yeo ZH

H88.com.sg Property Launches Waterfront Key to launch this weekend

Waterfront Key to launch this weekend

Waterfront Key is a 99-year leasehold mass-market condo located right along the edge of Bedok reservoir. There are 427 units available in eight 15-storey towers and the project offers a full range of condo facilities.

Units available include:
2 bedroom ~ 874 -1177 sq ft
3 bedroom (compact) ~ 1,007-1108 sq ft
3 bedrooms ~ 1134-1,742sqft
3 bedrooms + study ~ 1332-1879 sq ft
4 bedrooms ~ 1488-1564 sq ft
Penthouse ~ 2860-3038 sq ft

Prices rumored to be in the $700 psf region.

[UPDATE 22 July 2009: Waterfront Keys have sold 120 units at an average price of S$735psf. Source: Business Times]

See http://www.fareast.com.sg/FEOCorp.Web/index.aspx?page=home-prop-info&prop=169

Wednesday, July 15, 2009

Why I feel that this is Right time to Buy

10 Reasons why you should buy now

1. The economic data looks better and the hard numbers out on 14th July 2009, indicate Singapore is out of recession.

2. The world economy has shown signs of picking up. Recent readings across many of the world's biggest economies - including the US, China, Japan, Britain and Canada - suggest the global recession is petering out. Canada's central bank declared on 3rd week July 2009 that the country's recession was virtually over.

3. The Stock market is up. With a double-digit gain of 13.98 per cent in July 2009, the local bourse upstaged all other key Asian markets in July's stock market rally - with only Shanghai performing better. It is the fifth winning month for Singapore and follows a record 21 per cent surge in May, as well as gains of 13 per cent in April and 6.6 per cent in March, in June 0.17 per cent.

4. Property prices are inching up in Singapore. Suburban, Ang Mo Kio buyers are paying prices starting from S$1,150 psf (levels more suitable for prime or city-fringe projects) for a 329 unit, 99 years leasehold, Centro Residences. In US, new homes sales climb 11% in June 2009, the biggest gain in 8 years, adding to evidence the slump that began in 2005 is stabilising. US home prices also rise for the first time in 3 years, houses have finally become cheap enough to lure buyers in turn stabilising prices, generating hope of a property market recovery. In China, Beijing averaged house prices in the capital leapt 27 per cent from January to June, while Shanghai has seen a 78 per cent spike in residential sales, and the climb has continued since.

5. Singapore Tourism Board is confident of attracting over 9 million visitors this year, 2009.

6. Formula One night race coming on Sep 25th to 27th 2009. It will bolster Singapore's image as an exciting lifestyle destination and an aspiring events and entertainment capital of Asia. It also serves as a very good platform for business networking and creation of new opportunities. Overseas Investors will take notice and come. In the world first night race last year in Singapore, the event drew more than 40,000 overseas vistors and generated nearly S$170 million in incremental tourism proceeds. It also captured international media attention and was watched by about 110 million people worldwide. An inaugural 3 day F1 Rocks festival will make it's debut with American R&B superstar Beyonce performing together with American hip-hop group Black Eyed Peas. Hong Kong singer Jackie Chung, Taiwanese hip-hop group Da Mouth and Sodagreen will also be there.

7. Opening of new malls, Ion Orchards opens. Analysts say the opening could change the shopping experience in Orchard Road. More than 70 per cent of its 335 stores will be new to Singapore. Among them are jeweller-to-the-stars Harry Winston, Italian label DSquared2, Spanish high street label Bershka, Chinese sportswear retailer Li-Ning and Australian shoe company Rubi Shoes.

The mall is part of a $2-billion retail and residential development called Orchard Turn, which is a joint venture between CapitaLand, Singapore's biggest developer, and Hong Kong's Sun Hung Kai Properties, one of the largest developers in Asia.
The eight-storey mall is within a 218m-tall, 56-storey luxury building. The other 48 floors will contain 175 high-end apartments called The Orchard Residences, which will be completed by next year. About 84 per cent has been sold. In June 2009, an apartment sold for $3,299 psf.

Orchard Turn chief executive Soon Su Lin says the opening of the mall is a 'significant milestone that heralds new beginnings for Orchard Road'. She adds that the vision for Ion Orchard is to create an icon befitting its unmatched location at the gateway to one of Asia's most vibrant shopping strips.

8. 1st 2009 En bloc coming, The freehold "Dragon Mansion" at 18 Spottiswoode Park Road and asking for prices akin to boom times. "Laguna Park" is up too, next month. En bloc deals shot through the roof in 2007 when 111 transactions worth a record S$12.4 billion were sealed. Last year, 2008, only 7 sales worth S$371 million done.

9. Demand for New projects have been robust and mainly from Singaporeans, about 60%.

10. Cash Rich Buyers, there are about 13,000 home owners displaced by en-bloc deals from 2005 to 2007 and these buyers have ready cash of antwhere between $1 million and $2 million each to invest.

Tuesday, July 14, 2009

Calculate Sales Proceeds

You need to know the preliminary assessment of the amount of sale proceeds that you may get when you sell your home. This will help you evaluate your financial situation before selling your flat.

You would be able to do your sums and minimise the risk of buying another property based on any miscalculations or under-budgeting.

To compute the estimated sales proceeds, you would need:

1. The estimated resale price

2. Your loan information on the "outstanding balance" mortgage loan amount which must be fully settled before completion.

3. The amount of CPF monies used in the purchase of the flat, "the principal amount used and accrued interest".

4. Any outstanding payments to the relevant authorities.

To compute the estimated sales proceeds go to:

http://su.sg/d36a

Remember to have your Singpass, ID and Password ready.

For HDB website:

1 Click on Singpass Icon
2 Click My HDBpage on Right Icon
2 Click My flat
3 Click Financial information (there you are "Outstanding Balance")

For CPF website:

1 Click on myCPF online services
2 Login with your Singpass
3 Click on My Statement (on left box)
4 Move down to Section C (click on Property)
5 Click on My Public Housing Withdrawal Details (there you are "Total principal amount used and accrued interest)

Wednesday, July 8, 2009

Rent with Peace of Mind

Rent Protection Insurance

The first of it’s kind in Singapore and Asia, the product from JLT and QBE makes up for up to 12 months of lost rent (capped at $100,000) in several events, such as the tenants defaulting on payments or real estate agents absconding with rents collected.

Protection For Your Investment!

In any economic climate, it is prudent to ensure that your investment is well protected against any unforeseen circumstances which may cause financial strain. Rent Protection Insurance preserves the return on your investment; the rental income of your property you have just leased out. It is designed to assist you when your tenant becomes a problem. A tenant may lose his job and stop paying rent. Or disappear without paying rentals in arrears. Or worse, simply not pay and not leave.

Rent Protection insurance also takes care of any additional expenses you may need to incur to engage legal assistance to institute legal recovery or eviction proceedings.

Easy Access

Rent Protection Insurance is an easily accessible and hassle-free insurance product. You may sign up for Rent Protection Insurance at any point during the tenancy agreement.
(Note: To purchase this policy, your tenancy should be arranged and/or managed by an estate agent; and the tenancy agreement should be legally stamped and lodged with the Inland Revenue Authority of Singapore.)

Premium is highly affordable!

At just 15% of one month’s rent (subject to a minimum of S$250.00), you are covered for the entire period of the tenancy agreement (maximum of up to 24 months).

Comments

'Landlords and real estate agents . . . have commented that it is being introduced at the right time in Singapore.' The insurers noted a rising number of landlord-tenant dispute claims. According to data they sourced from the Small Claims Tribunals of the Subordinate Courts of Singapore, there were 1,137 such cases in 2008 - 70 per cent more than a year earlier.

And feedback from the real estate industry indicates that most disputes do not even reach the tribunals, the insurers highlighted. Agents say that it’s hard to take some tenants to task if they have simply disappeared. With market conditions deteriorating, the insurers also felt that rent protection insurance would come in handy. Institute of Estate Agents president Jeff Foo observed that rent defaults have increased significantly, and such cases would hurt landlords that rely on rental income for mortgage payments.

Rent protection insurance has spawned premiums of over A$30 million (S$32.5 million) in Australia, JLT said. 'We believe that this product will find comparable success in Singapore and in Asia.'