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Showing posts from February, 2010

63 percent of survey respondents primarily search online for properties

Only 22% first look for properties in newspapers In a recent iProperty.com Singapore online survey, 63.1% of 1,000 participants said that they primarily search for properties on the Internet. This compares strongly with the surprisingly low 22.3% of participants who still opt to look for properties in the local newspaper classifieds first. Even fewer participants or 7.3% of them start with their real estate agent first when it comes to buying a home. "It's clear that more people in general are going online to websites like iProperty.com for their property search and information needs, rather than relying traditionally on newspapers," said Mr Patrick Grove, Executive Chairman of the iProperty.com Group. A whopping 88.5% of the participants said they look for properties for sale when using the Internet for property research. Some 38.1% of them used the Internet to research property market trends while 33.8% look for property news online. Of the participants, 66.1% gene

More Condo Launches brought forward

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If you're looking for a new condo to buy, great news - developers are pushing their new condo launch dates forward. Approximately 6 to 7 new developments will be launched in the next three months. Some new upcoming launches: 1. D'Mira - 65 units (Mar 2010) 2. The Residences at W (Sentosa Cove) - 228 units (Mar 2010) 3. Condo at Chestnut Avenue - 429 units (Apr 2010) 4. Condo at Pasir Ris - 642 units (Jun 2010) 5. Condo at soon-to-be former Copthorne Orchid Hotel - 150 units (Jul - Aug 2010) 6. Condo at Dakota Crescent - 616 units (Apr - May 2010) 7. Former Rainbow Gardens site - 172 units (Apr - May 2010) 8. Former Flamingo Valley site - 393 units (2010 Q2) Other condos to note include The Interlace (1,040 units), the former Farrer Court site (1,500 units) and The Cascadia (536 units). All in all, looks like supply for new condo units will be up, up, up. It looks like developers are trying to catch the wave of good buying sentiment. In fact, developers are launching so m

Property Tax revised

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Finance Minister Tharman Shanmugaratnam announced in his lengthy Budget 2010 speech yesterday that there will now be a tiered taxation structure as opposed to the old flat rate set way back in 1994. We've done some calculations. It's true! 'Poor' folk like us will have to pay less tax! The tax rate for owner-occupiers (that is people who own the home they live in) will be adjusted from the current 4% flat rate to: 0% for the first $6,000 of Annual Value 4% for the next $59,000 of Annual Value 6% cent for the balance of Annual Value in excess of $65,000 Annual Value is the estimated annual rent your property will get if it is rented out. So if your home can be rented out for $1,500 a month, the annual value will be $1,500 x 12 = %18,000. Non-owner-occupied residential properties and other properties are taxed at 10%. So under the current system of 4%, your property tax will be $720. Under the new system, your tax will be $480, giving you a savings of $240 a y

Breaking News: Seller Stamp Duty introduced, Loan Limits slashed

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MAS has new cooling measures to tame any bubbles forming in the property market. This time it is in the form of Seller's Stamp Duty and lowering of loan limits! The measures were apparently in reaction to the recent spike in property sales. So far, these are the possible implications from what we gather: Sellers will also have to pay Stamp Duty if they sell within a year of purchase (purchase = exercise option or sign S&P). This means if you buy a condo and sell it within a year, you will get hammered by both the Buyer's Stamp Duty and Seller's Stamp Duty . The new Sellers Stamp Duty is similar to the old Buyers Stamp Duty : 1% for the first $180,000 of the consideration, 2% for the next $180,000, and 3% for the balance. In short this will discourage short term flipping, especially for new projects. The Seller's Stamp Duty will not affect HDB flats, but will affect Executive Condos and HUDC flats. There are no more 90% bank loans for any property even if it

2010 promisiong for property

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Rawr! 1476 new private properties were sold in January, up from 481 units in December! What good news to usher in the Tiger year! With some experts agreeing that Tiger years are often filled with danger and opportunity, it looks like the market is assuming this will be one filled with the later and is taking preemptive action. The big winners? Cube 8 (167) The Shore Residences (144) RV Edge (91) Urban Suites (88) Parvis (73) Holland Residences (63) Livia (59) Siglap V (50) Cyan (37) Espada (33) Residences Botanique (32) Double Bay Residences (31) The Interlace (24) Meadows @ Pierce (23) Cerelia Vista (21) Trilight (18) Trevista (18) Mi Casa (15) Apart from the obvious surge in the amount of units sold, the high end and luxury segments seem to be gaining momentum. Looking closer at the numbers from URA, there seem to be even more good news hidden beneath - with number of new units sold (1476) exceeding the number of units launched within the month (1424). Month on month

Number of ready to launch condos swelling

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The number of condos that are waiting to be launched is swelling, and it is obvious that they are all waiting for the Chinese New Year to pass first . The end of the Chinese New Year usually marks the start of the home buying frenzy season in Singapore. We have been getting tip offs of agents being briefed at multiple projects across the island, and briefings by developers usually mean that the projects will be launched within a week or two. We compiled a few notable condos for you guys to watch out for: Altez@Enggor St reet District: 2 Developer : Far East Organization Tenure: 99yrs Estimated TOP: ? Floors: 62 Units: 280 total, 1BR, 1BR loft, 2BR, 3BR loft, PH Typical Sizes: 1BR (530 - 608 sqft) 1BR loft (805 - 896 sqft) 2BR (837 - 1029 sqft) 3BR (1636 - 1729sqft) Penthouse (2444 - 4054 sqft) The Vision (West Coast Crescent) District: 5 Tenure: 99yrs Estimated TOP: Mid 2013 Floors: 33 Units: 295 total, 2BR (93), 3BR (154), 4BR (32), PH (2

Potential En bloc Condos for 2010 - 2011

A list of "might/could be" en bloc sites have been compiled here. Looks like the En bloc fever is catching on again. Potential En blocs: Pearl Bank Apartments (D3) Asking S$750 million Pender Court (D3) 252-258 Pasir Panjang Road (D5) Sold Westvale (D5)* Asia Gardens (D8) Elizabeth Towers (D9) Mackenzie Mansions (D9)* Meng Garde n (D9) Peace Centre/Mansion (D9) Riviera Point (D9) Asking S$70 million Shophouses along Devonshire (D9) Balmoral Condominium (D10) Sold S$141 million Crystal Towers (D10)  Dalvey Court (D10) D'Grove Villas (D10) Dynasty Garden II (D10) Holland Hill Lodge * (D10) Holland Tower (D10) Kellock Lodge (D10)  Ming Arcade (D10) 2 - 8 Robin Road (D10) Asking S$58 million Robin Court (D10) Sold Robin Star (10) Sold S$47 million Royalville (D10) Asking S$370 to S$400 million Tanglin Park (D10) Tanglin Shopping Centre (D10) Tulip Garden (D10) Asking S$600 million  Villa D'Este (D10) Chong Kim Apartment (D11)

Condo Review : Waterfront Key

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Living at the water's edge, residents are separated from the scenic waters of the reservoir by only the four-lane Bedok Reservoir Road. About Waterfront Key Situated right in front of Bedok Reservoir, the 437-unit Waterfront Key is jointly developed by Far East Organization (Centro Residences) and Frasers Centrepoint (8@Woodleigh). This 99-year, District 16 condo is made up of eight 15-storey blocks with a unit mix ranging from 2BRs to Penthouses. TOP is scheduled for Dec 2015 (that's 6 years from now!). Marketed heavily as waterfront living (their brochure proudly proclaims "Live at the water's edge"), residents are separated from the scenic waters of the reservoir by only the four-lane Bedok Reservoir Road. So this is not some sales and marketing spin (like when 'near' is not so near or when a '3 minute walk' is actually 10 minutes), one is literally living at the water's edge. Facilities are "full condo" which include a 50m la

Condo Photo Review : Riveredge

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With elegant scenic views of Kallang Basin Hot off the shelf, Riveredge just reached Temporary Occupation Status (TOP) not too long ago. A short distance away from the upcoming Mountbatten MRT and recently relaunched Leisure Park shopping mall, this iconic District 15 condominium sits by the river's edge - as its name suggest. When we toured the condominium, it was already dusk. Thus we caught on film the twilight hour which only brought out the best in it. The condominium itself is long and slim, reflecting a similarly proportioned piece of 99yr leasehold land. There are roughly 135 units distributed among its long slim profile. Overall, we liked the location, but noted the presence of nearby HDB blocks. Here are some photos of the estate we took: Reflections of the sunset caught some beautiful colors, making this look like one of those picture perfect moments only seen in showroom brochures. Note the presence of HDB flats. Another shot of the generous lap po

Condo Photo Review : Caribbean @ Keppel Bay

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The 1st truly waterfront district designed for those who love to live by the sea. The Caribbean at Keppel Bay is likely one of the most popular condominiums for high-end expats in District 4. With a true waterfront lifestyle, fantastic sea views, and Vivocity mall just beside it, it's not hard to see why this project has one of the highest rental yields in Singapore. The condominium is found at the south end of Singapore, just north of Sentosa Island and 10mins away from the CBD. The Caribbean features plenty of water features, natural and man made. True waterfront living. Check out the BBQ pavilion perched by the sea (white circular structure). A shot through the estate with nice blue skies and more BBQ pits. A wading pool, with yet another BBQ pit, albeit smaller. Yet another huge pool. Note the patios sticking out of the top level units. We simply loved the bridges running over waterways. Quite possibly the only condo at the moment that loo