Author: Propwise.sg

Keeping the Singapore Property Dream Alive

By Property Soul (guest contributor) Business Times published a property feature recently that highlighted ‘the seven year itch’ of Singaporeans investing in properties. The property itch is in the DNA of Singaporeans who like new launches and equate owning properties with being rich. Properties represent a significant portion in the wealth of Singaporeans. The performance of the local property market is a key indicator for the health of our economy. It is the pride of the nation and the self-esteem of the citizens. The Singapore property dream The Singapore property dream goes far beyond housing and having a roof over...

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Unbiased New Launch Review – Forest Woods

By KK Tong (guest contributor) Launched in early October 2016, Forest Woods showed a strong response from buyers as 337 out of 519 units were sold on the launch weekend. Located at Lorong Lew Lian in District 19, this 99-year leasehold development is jointly developed by CDL, Hong Leong, and TID. A total of 519 units sit on a plot size of 150,712 square feet. TOP is expected to be in May 2021. The unit types and indicative pricing in this development are: Ceiling height is 2.9 metres for most units. Some premium units come with a ceiling height...

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GEPIC 2017 – FREE TICKETS FOR PROPWISE SUBSCRIBERS!

There will be a Global Economics and Property Investment Convention (GEPIC) 2017 this coming 15 February. This seminar is strictly educational and will provide you an outlook of the economy, property market, and disruptive technology. This year, we have invited 3 renowned speakers to share on the following exciting topics: 1)      The Future of Global Economics – Mr. Song Seng Wun Mr. Song Seng Wun is the Director & Regional Economist of CIMB Research Pte Ltd, and since moving to Singapore in 1990, has worked as a Regional Economist with various major global financial institutions. A veteran economist, his views...

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Mr. Propwise’s 2017 Singapore Property Market Outlook

By Mr. Propwise It’s that time of the year where I take a look back at what’s happened over the past twelve months, then try and say something intelligent about the future direction of the property market over the next year. But this year I’m particularly apprehensive, as 2016 was the year where the majority of forecasters failed to accurately call the most major events such as Brexit and the US Presidential Elections. 2016 was a continuation of “death by a thousand cuts.” After a 3.7% decline in the URA’s Property Price Index (PPI) in 2015, as of 2016Q3...

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Buyers Expect Prices to Fall in the Next 12 Months, But Are Optimistic for the Long Term

By Mr. Propwise iProperty Group Ltd, a leading real estate portal network in Asia, has released its Asia Property Market Sentiment Report H2 2016 (APMSR H2 2016). It’s 200+ pages full of data and charts of results from their survey covering the property markets of Malaysia, Indonesia, Singapore and Hong Kong. For this article I’ve extracted some of the key findings on the Singapore market I found interesting, but if you’re interested in all the details you should check out the report. Buyers find property prices unaffordable; waiting for prices to fall “Waiting for property prices to fall” was...

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5 Reasonably-Priced Condos Worth a Look

By KK Tong (guest contributor) Every now and then, we come across news articles about HDB flats transacting at close to, or even beyond the million-dollar mark. For many of us, this amount is eye-boggling as we would never have imagined that government-subsidised housing can be sold at such unbelievable prices. Some of us will lament that with HDB being so expensive, we may never be able to afford condominiums, which usually cost more as they come with facilities. But fret not, because these transactions are uncommon, which means that condos are still within our reach. Reasonably-priced condos do...

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Singapore Property News This Week #272

Residential HDB resale prices up 0.7% in July; volume down 13.7% Resale prices of Housing & Development Board (HDB) flats rose 0.7 per cent in July compared to June, but in terms of transactions, resale volume fell 13.7 percent. R’ST Research director Ong Kah Seng opines that HDB resale prices are still on a solid, stable footing despite the dip in June. (Source: Business Times) 8 West Coast blocks picked for redevelopment THE government has identified eight blocks along West Coast Road for its “selective en bloc redevelopment scheme” (Sers). The government will buy back these flats and offer...

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How to Choose Your HDB BTO Unit – 4 Critical Factors to Consider

By Heartland Boy (guest contributor) You’re in the market for an HDB BTO unit, and now have your queue number and are waiting with bated breath as the units available for sale get whittled down each day. I’m going to use St George’s Tower, an HDB BTO project in Boon Keng, as a case study for this article because I have already invested considerable amounts of time and money researching it. Walk the ground first Figure 1: Site Plan of St George’s Tower (Credit: HDB BTO) If there is only one thing that you remember from this article, it...

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Factors to Consider When Financing an Australian Property Purchase

By Jo’An Tan (guest contributor) Singaporeans have been increasingly looking outside of Singapore to invest in real estate, by getting their dream retirement home, a place for their university-bound children stay in, or as an investment. The popular choices have been Australia, United Kingdom, Thailand, Japan and Malaysia. The strengthening of the Singapore Dollar has increased interest in such properties as they are deemed to be more affordable. Local lenders have also introduced financing of foreign property loans in view of this trend. In this article, we will focus on the intricacies of taking up a mortgage loan for...

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Singapore Property News This Week #260

Residential Condo resale volumes and prices rose in April The latest April data from SRX Property showed that prices and transaction volume of resale private apartments and condos have risen for two consecutive months. Prices rose 0.7 per cent in the Core Central Region (CCR) and 1.3 per cent in the city-fringe or Rest of Central Region (RCR), but slipped 0.2 per cent in the Outside Central Region (OCR). ERA Realty Network’s key executive officer, Eugene Lim, noted that the price weakness in OCR was due to the high supply of private property in those areas. The improvement in...

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Is it Time to Jump in to the Singapore Property Market?

By Gerald Tay (guest contributor) We know property prices have gone down, albeit just an 8% dip since the peak in 2013.There’re plenty of arguments from “experts” (who mostly argue against) on whether the Singapore Property Market will face further severe price correction, perhaps to the lows seen during the 1997 Asian Financial Crisis, the economic stagnation period between 2002 and 2005, and the 2008 Global Financial Crisis. Time to jump in? Prospective buyers who are eagerly waiting on the side-lines are looking for answers can be easily misled.Some arguments suggest buyers, instead of waiting for the “impossible” scenario...

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5 Property Investment Pitfalls to Avoid

By Tam Ging Wien (guest contributor) Property investments are capital intensive and highly leveraged – typically property financing covers up to 80% of a property’s purchase value, and can reach 90% in some countries here in Asia. Investors need to save up a substantial amount before making a purchase. A property investment that has gone sour may take an investor several years to recover. Besides the loss in capital, the opportunity cost is also high – the investor would be priced out of any future investment in years to come. Therefore, learning from the mistakes others have made is...

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Singapore Property News This Week #241

Residential Prices of completed small condos fall by 1.2% month-on-month in Nov According to the Singapore Residential Price Index, prices of completed small condo units and apartments that are no larger than 506 sq ft have fallen by 1.2% in November from October. In October, a 0.4% month-on-month fall in prices was seen in the same category. Year-to-date, prices of small units islandwide have fallen by 4.1%. Ong Kah Seng from R’ST Research said that owners of smaller flats may be more willing to let go of their flats at lower prices as the units may be too small...

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Singapore Property News This Week #195

Residential GCB at Swettenham Road selling at $23.52 million A good class bungalow (GCB) at Swettenham Road is asking for $23.52 million or $1,543 psf based on the freehold land area of 15,293.53 sq ft. According to market experts, this value is lower than the seller’s previous asking price of $30 million about nine months ago. Data that was compiled by CBRE showed that in 2014, 28 bungalows totalling $626.14 million changed hands in GCB areas. This amount was lower than the $682 million that was amassed from the sale of 29 bungalows in the same area in 2013;...

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Singapore Property News This Week #193

Residential Higher home vacancies expected to push prices down further Property values are falling following the government’s implementation of cooling measures. These measures include a stricter restriction on property loans. After a spike in property prices in 2013, the government tried to regulate the market by capping borrowers’ total debt repayments at 60 percent of their income. With such measures, Singaporeans found it harder to refinance loans. Besides that, the government had also implemented additional property taxes on purchases made by foreigners. These cooling measures had been effective in reducing home prices by 4 percent in 2014. However, the...

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