Tag Archives: Affordable housing

Keep calm and buy Executive Condominium

GOOD NEWS 

Income Ceiling for purchasing of Executive Condominium has been revised from $12000 to $14000, for more info, read HERE

Look no further, contact me @ 98803768 for a non obligation discussion in getting your dream home now.

Click HERE for more Executive Condominium information. 

Keep calm and buy ECSource – HDB

Avoid the worst time to sell your HDB

Owners planning to sell their Housing & Development Board (HDB) flats would be wise to study the supply situation and avoid certain peak periods which may weaken their bargaining position. These peak seasons may arise when buyers of executive condominium (EC) dispose their existing HDB flats once they receive keys to their new homes. For instance, more than 6,000 EC units are expected to be completed in 2018, putting the year in the alert zone.

Under HDB rule, upgraders must sell their existing HDB flat within six months from the issuance of the Temporary Occupation Permit (TOP) for the EC. Buyers whose ECs received TOP in 1Q15, for example, would have to sell their existing HDB flat by 3Q15. Such restriction could result in a surge of HDB resale flats entering the market in certain seasons, tipping the market in favour of buyers and putting sellers in a disadvantaged position.

Surveys on certain EC projects showed that such upgraders may account for more than half of new EC buyers. An anticipated 8,800 HDB resale flats therefore could enter the market from now until 4Q19, based on half the 18,083 EC units receiving TOP between 4Q14 and 4Q19. The bulk of these or 3,400 resale flats will come on-stream in 2018, followed by 1,800 units in 2016 (see Table 1 and Figure 1). To put things in perspective, they represent 20% and 11% of total HDB resale volume in 2014 respectively.

Table 1: Estimated TOP dates of EC projects and disposal of HDB flats

Estimated TOP dates of EC projects and disposal of HDB flats

Source: Developers, HDB, URA, The Edge Property

Against this backdrop, sellers might consider putting their units on the market this year instead of 2016 to avoid head-on collision with these upgraders. Another incentive in favour of selling this year would be the clipping of Build-To-Order (BTO) supply from 22,455 units in 2014 to 16,900 in 2015. This could potentially draw buyers back to the resale market and reverse the downtrend in prices. According to latest statistics from HDB, prices of resale flats have declined for seven consecutive quarters for a total of 9.2% from 2Q13’s peak to 1Q15.

Figure 1: Projected supply of HDB resale flats disposed by EC buyers

Projected supply of HDB resale flats disposed by EC buyers

Source: HDB, URA, The Edge Property 

Those looking to sell on a longer time horizon might wish to note several window periods where supply from upgraders would be on a low ebb such as the second half of 2017. Barring any changes in market sentiments, it might be prudent for sellers to err on the side of caution and avoid peak periods that might psychologically empower buyers and put pressure on prices.

The year 2018 will see a strong surge in supply from upgraders of ECs that are currently being marketed such as The Amore,Bellewaters, Bellewoods, Lake Life and The Terrace. Eight more EC projects are expected to be launched this year.

Source - THE EDGE, HDB URA
*This article appeared in The Edge Property Pullout of Issue 677 (May 18) of The Edge Singapore.

Top 10 Cheapest HDB – 2013

So, PM Lee whom spoken on National day Rally 2013 last night did mention that he will make housing affordable to all Singaporean. Quoting an example of a 3 Room BTO priced at $150000 up in Fernvale Riverwalk.

fernvale_riverwalk fernvale_riverwalk_location

It is very affordable indeed. Considering the fact that it is a newly built HDB apartment with fresh 99 years lease. LRT is just in front of your door steps. Nothing much to complain about seriously except the waiting time for the apartment to get ready. 

So I guess you guys might be wondering what can you buy with Budget around $150000 in the HDB resale market right? Answer is YOU CAN”T BUY ANYTHING. 

According to the Statistic from the HDB and major property firms, the Top 10 Cheapest HDB sold till date for the year 2013 transacted above with a minimum price of $230000. Lets take a look.

#10

Blk 66 Circuit Road

Type – 2’STD’

Size – 484.38Sqft

Price – $248,000  /  $512.40psf

Remark – Built in 1967 with a balance of 53 years lease left. It might be affect by  CPF housing withdrawal limit Beside this, the location is great. Walking distance to Macpherson MRT and market. With the plan to move paya lebar to Changi, I’ve got a strong feeling that this area got strong potential. Maybe Enbloc in the next 10-15 years time?

10 - 66 Circuit Road 2'STD' Streetview 10 - 66 Circuit Road 2'STD' Map

#9

Blk 43 Circuit Road

Type – 2’STD’

Size –  441.32Sqft

Price – $245,000  /  $555.56psf

Remark – Built in 1971 . Located just across Circuit Road Hawker Centre and within 3 Mins walk to the future Mattar MRT. Estimated date of completion: 2017

9 - 43 Circuit Road 2'STD' Streetview 9 - 43 Circuit Road 2'STD' Map

#8

Blk 45 Circuit Road

Type – 2’STD’

Size –  430.56Sqft

Price – $243,000  /  $ 565.12psf

Remark – Built in 1971 . Located just across Circuit Road Hawker Centre and within 3 Mins walk to the future Mattar MRT. Estimated date of completion: 2017

8 - 45 Circuit Road 2'STD' Streetview 8 - 45 Circuit Road 2'STD' Map

#7

Blk 218 Marsiling Crescent   ( 2 Units transacted )

Type – 2’I’

Size –   484.38Sqft

Price – $242,000  /  $ 500.00psf

Remark – Built in 1986 . Seriously, it is really near to no where except the Woodland Checkpoint.

7 - 218 Marsiling Cres  2'I' Streetview 7 - 218 Marsiling Cres  2'I' Map

#5

Blk 161 Toa Payoh Lor 1

Type – 2’I’

Size –    430.56Sqft

Price – $240,000  /  $  558.14psf

Remark – Built in 1972 . 5 Mins walk will take you to Toa Payoh MRT. Nothing to complain about except that this block is location right in front of PIE. Do expect A lots of some noise.

5 - 161 Toa Payoh Lor 1 2'I' Street View 5 - 161 Toa Payoh Lor 1 2'I' Map

#4

Blk 7 Telok Blangah Crescent

Type – 1’I’

Size –     333.68Sqft

Price – $240,000  /  $    720.72psf

Remark – Built in 1975 . Near to Telok Blangah Hawker centre and SAFRA Mount Faber. SAFRA member can go for a free swim. Guys, did you notice the Price per square foot? Whooping $720.72 psf for a almost 40 years HDB. GOD….

#3

Blk 7 Telok Blangah Crescent

Type – 1’I’

Size –     333.68Sqft

Price – $  238,000  /  $ 714.71psf

#2

Blk 7 Telok Blangah Crescent

Type – 1’I’

Size –     333.68Sqft

Price – $      235,000  /  $705.71psf

Remark – Seems like there is really a concentration of cheap HDBs n Telok Blangah.

4,3,2 - 7 Telok Blangah Crescent 1'I' Street View - 4,3,2 - 7 Telok Blangah Crescent 1'I' Map

#1

Blk 112 Ho Ching Rd

Type – 12’I’

Size –     613.55Sqft

Price – $      230,000  /  $705.71psf

Remark – Drum roll…. Cheapest HDB goes to Blk 112 Ho Ching Road. Built in 1970s. Pretty near to Chinese Garden and a few bus stops to Lakeside MRT. For buyers, if you are eligible for CPF family Grant, Additional Housing Grant etc, you might be paying even less.

1 - 112 Ho Ching Road 2'I' Map 1 - 112 Ho Ching Road 2'I' Street View

Did you notice, most of the cheapest units in Singapore are built in the 60s 70s and size not more than 620Sqft. Some location are not bad seriously and If buyer do not mind the age of the property ( and the size of cos ) and do not have the time to wait for BTO, this is another alternative.

For the price wise, few have transacted above $700psf. YES!! $700psf for a 30-40 years old HDB. It makes those new launch EC and mass market condo not that expensive after all.

So now, do you think it is expensive to own a property in Singapore? Lets Vote.

So, wanna know how much your property worth? 

SMS <VALUE> ”  ‘PROPERTY ADDRESS’, ‘PROPERTY TYPE’, ‘NAME’ to 98803768  and i shall be able to assist you

Example – <VALUE>’blk 1 Tiong Bahru Road #03-03 ‘ 5’A’ ‘Peter’

Source – HDB, Propertyguru, Onemap.sg, Googlemap

suburban condominiums marching above $1,200 per sq ft

Land For SaleDespite several rounds of cooling measures, land prices have continued to rise resulting in most suburban condominiums exceeding the $1,200 per sq ft (psf) price threshold.

Most suburban residential sites under the Government Land Sales programme that have not been officially launched are expected to go beyond the $1,200 psf price tag. 2 of which have already been marketed

The site at Sengkang West Way is the only site that is expected to launch close to $1,000 psf. On the opposite end, the most expensive launches are scheduled to launch at New Upper Changi RoadYishun Ring Road and Ang Mo Kio Avenue 2, all of which are expected to cost more than $1,400 psf. These developments are in sync with the trend of recent suburban launches that hit above the $1,200 psf on average, some of which include the J Gateway in Jurong which launched at a median price of $1,486 psf and Urban Vista that was launched at a median price of $1,503 psf. Location Plan for Land Parcel at Ang Mo Kio Avenue 2

Analysts predict that the market is able to withstand a threshold of $1,500 psf if total prices remain relatively affordable. Tightening credit may dampen sales volumes in the medium-term, but suburban condominium prices should remain at an affordable price of up to $1.5 million.

Research experts say that prices are increasing because developers are building smaller units with higher psf prices and the demand for suburban condos come mostly from buyers upgrading from their Housing Board flats.

The increase in suburban condo prices alternatively boost the popularity of executive condos (ECs), making them significantly more affordable than suburban condos, but this may not be for long as even EC prices are set to go beyond $800 psf soon.

 

Source – iProperty.com, URA

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