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A Closer Look at the Property Market in Singapore

Singaporeans are vocal about the property prices in their country. As a matter of fact, it has been identified that most of these prices have skyrocketed for the past couple of years. This was quite related to the financial crisis which took place in the United States in the year 2008. There was an increase that first-time buyers were quite overwhelmed in the beginning. The cheap financing available all over the world is not a secret to many. As this is the case, it is just right to understand how the real estate market is in Singapore.

Singapore as a Prosperous Investment Place

Many are fond of conducting business in Singapore because it is the easiest place to invest in. Topping this is the fact that this country puts so much emphasis on law and order. This is why it is not shocking why many individuals are not afraid to conduct business here. The country is capable of implementing strict laws which do not fail to protect its investors and buyers. The protection mentioned here is the answer as to why most investors are attracted. There may be heavy restrictions but they are only intended for the protection of people’s money who are part of the property market in Singapore.

The Demand and Supply

As of February 2013, there are already 5.1 million people found in the country. With that figure, Singapore was able to release a white paper which sees 6.9 million people in the same small state come 2030. Today, there might be no adequate housing found in it yet. This transpired because of the influx of people. But that would not be the case all the time. The increase in the demand for housing has become positive. With its limited land, it is projected for the place to be red hot in 2030. Who would not want that?

Should You Invest in Singapore?

Is the toughest question asked now? Please remember that only 15% of properties in the said country are private properties This goes to show that almost 85% of the market is available for foreigners to purchase. These private properties encompass condominiums, apartments and landed properties. To utilize the basic economic terms, property prices are perceived to head up mainly because of the limited supply and cheap financing which is always intended for liquidity.

Since there is a projection that the population will rise to 6.9 million, there will surely be an effect on the prices of property in Singapore too. Economic factors would have a big impact on the prices too. It may be both for short and long-term. The same is also true with the demand and supply which can also dictate the movement of the property market. All of these are seen as a potential for many Singaporean investors out there. Why should it not?

Needless to say, Singapore is bound to have a competitive property market. This is an assurance indeed!…

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The Perks of Bungalows in Singapore

Have you ever imagined an exclusive neighborhood packed with manicured lawns, lined trees and spacious backgrounds? All of these are the best because they speak about privacy which most people yearn for. If this is your preference, it is about time you consider purchasing your own bungalow in Singapore. This can be the answer to your dream house!

When it comes to a city-state where land is very limited, owning one can indeed be expensive. A ton of the visitors, residents, and expats are seen living in condos, apartments, and flats. However, what makes it living in a bungalow more convenient? Well, let us start with the fact that Singapore is somehow luxurious to be in. It goes with 1,000 good class bungalows that are around the country. This has to be noted.

Bungalows in Singapore

These are some other things that you should remember about most Bungalows in Singapore:

  • There is exclusivity in Singapore. Indeed, bungalows are good for those who want to pursue a long-term investment. Most bungalow sales have fared well even in struggles as compared to that of other housing projects and property values. For the last couple of years, there have been efficient financial gains which are reported by bungalow owners who finally decided to sell their own properties.
  • Bungalow owners normally enjoy the plot of land which features their properties. Good class bungalows are expected to have at least a plot of 1,400 sqm. This would provide owners and their families a ton of room for playing, and other purposes. There is also another restriction when it comes to bungalow owners. That involves having enough amount of greenery and grass on their property. This kind of stipulation is required to adhere to the environmental laws of Singapore.
  • Bungalows may either be single story homes or two-story houses. There might be a restriction on the height too. This is usually done so that low-rise feels of the bungalow neighborhoods may be preserved.
  • The advantage of owning and buying a bungalow would provide owner room so that future extensions may be undertaken. Bungalows may be renovated and remodeled since there is a large space which is a larger space available for owners. You may install a swimming pool for a new wing or a new floor. There is a big size for bungalows which may also serve as a garden. This is another good idea too. Most maintained and improved bungalows would easily fetch higher resale values. This can be a motivation for most bungalow owners out there most especially in taking care of properties.

There is a law in Singapore that states only citizens can own a property or a land in their country. This is also meant for bungalows which are situated in the city-state. However, there are many owners of bungalows who still rent or lease for the properties so that companies, expats, foreigners, citizens, and corporations would be able to make business on the place. This is an advantage that has to be taken down note.…

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Leasing property In Singapore? Here are potential landlord challenges.

Leasing property is a daunting task. It’s all the same story in Singapore. As the landlord you have numerous responsibilities, not just receiving rental revenues come to the end of each month. With monthly income, there is a lot that needs to be done just to keep your tenants satisfied. We are here to discuss some of the challenges you will encounter as a landlord in Singapore.

Difficult tenants

Well, let’s face it humans are difficult to keep happy all the time. This is because we have different needs, character, and mannerism. Some tenants may be mice while others are down-rig cruel and unfriendly. With such diversity, it a challenge to meet everyone need no matter how much you try.
Regardless, it’s always wise not to argue with your tenants as it will turn to be a battle of them against you. In events of commotion, tenants stand to lose their deposit while you can lose your reputation which is vital in a service industry. As a landlord, you should expect to be upset by tenants who are hesitant to pay up the rent which calls for wisdom.

Becoming adult caretaker

Leasing your property means tenants can call you at any time of the day just to ask for assistance. This is their right as long as they keep paying the rent. To offload some of these pressure, you can choose to hire a property manager, otherwise called agents to manage your units. This way you can have free time and enjoy your vacation.

Cash flow issues

Usually, a landlord uses the rent to pay off mortgage loans. This cash flow will defiantly be tested. Sometimes it due to sheer ignorance but sometimes tenants run into genuine financial difficulties and as a human you have to excuse them for a couple of days. Maintenance cost form units is another expenditure that is difficult to predict. When the elevator breaks down, you have to go out of your way and fix it. To avoid running into a lot of trouble, it advisable to have an emergency fund to ensure that the wellbeing of clients is maintained.

Liability

All these responsibilities as a landlord bring across a lot of liabilities. You will be presented with problems that ant your responsibility but be obliged to solve if the form you won pocket. As stated above, some clients are stubborn, never mention that to them, and you have to solve even the slightest incidence otherwise they will negatively influence the entire unit.
It better to protect yourself from these inconveniences. How do you do that? Hire property manager. Such service means parting with a small amount of the monthly rent revenue, but you get to enjoy good relationships with the tenants, and no one will call on your vacation just to tell you their toilet blocked, or the lights can work.…

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Planning to own a property in Singapore

Planning to own a property in Singapore? Here is cost what you will incur

Buying a property is a significant financial commitment. At one point or another, you will require a house to call home. The same case goes for those living in Singapore and foreigners who plan to live in the country. Like in other counties, owning a home in Singapore is not easy. You need courage, knowledge, patience and most importantly the finances to materialize that dream. Not unless you won a lottery, purchasing a home is a long-term commitment which needs to be planned carefully.
Before you even begin to search for your dream home, it advised that you know the basic in regards to the cost of buying a property in Singapore. This way, you will quickly understand where your finances put you to afford that house. Here is a quick look at the fees you will incur when purchasing a home in Singapore.

Cost of buying a property in Singapore

Upfront payments

Option to Purchase Fee: Option to Purchase (OTP) is the money paid to secure the property. The money creates a legal agreement between the seller and the buyer. In most cases, the fee offers a 14-days exclusivity where the seller does give any offer to other potential buyers.
Option to Exercise fee: This fee is paid when you are sure you want to buy the property. For private property, the fee is between 5-10% of the property price while for HDB it’s $5,000 inclusive of OTP price.

Down payment: Down payments is the minimum amount of the sum to be paid in cash. In most cases down payment of houses are 10 or 20% of the total cost.

Stamp duties

Buyers stamp duties: BSD is a tax on documents relating to the acquisition of the home. These documents at as evidence in court shall there be disagreement or problems. BSD are levied at 1% for first $180,000, 2% for the next 180,000 and 3% for the next remaining amount.

Other costs

Apart from stamp duties and upfront payments, other fees incurred when purchasing a property in Singapore include valuation fees, legal fees, mortgages duty, agent fees and administrative charges.
For private properties the fee is as follows:

Legal fees -$2,000 -$3,000 for a professional lawyer. He/she will help do background checks on the property.
Valuation fee– If you are buying the priority with a loan, then the bank will require property valuation. It cost somewhere between $350 and $500.
Agent commission – if you engage an agent when purchasing a property, they will charge you a small commission as agreed.
Mortgage documents – this is all the paperwork required for you to securing a standard mortgage. For private property, the mortgage document cost is capped at $500.

For HDB flats:
Valuation fees – $140 to $1200.
Insurance – fire insurance is a must for HDB flats. The cost is $1.50 to $7.50 for a 5 year term.
Administrative fee– when you submit your application for HDB flat, you will be charged $10 as an administrative fee. Miscellanies fee $15, agent commission between 0% and 1% and temporary extension $20.
Legal fee– $20 …

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Rivercove Residences: The Only EC in 2018

rivercove residences

Rivercove Residences EC: one of the best future executive condominiums which are going to be launched soon in the upcoming year of 2018. It is located in one the lavish and posh area of District 19 Sengkang i.e. Anchorvale Lane. It is one of the most costly bidding sites of Sengkang and the results also depict in the prices of the rates of the flats too. Book an appointment now at Rivercove EC Official Website before they sell out.

Anchorvale Lane is going to be developed more in future according to Government Master Plan and hence will also alter the rates of the residential accommodations of the Rivercove EC too. Do you want to get your home in the best, posh and luxurious locality of Sengkang, then don’t waste your time in too much thinking as the prices are going to higher and higher every second.

Enhancing connectivity in Sengkang: Rivercove Residences EC site is served by integrated transport hub. This wonderful site is well connected to the other parts of Singapore through public transport. You can easily access Rivercove through TPE, CTE, and KPE through all parts of Singapore. The best thing all above is that it takes about 25 minutes ride to travel the city Hougang. The city is also considered to have CRL too till the year 2030 which will provide you faster shortcut route between Hougang and the east or west of Singapore and hence help you in reaching your destination place in lesser time periods.

Nearby Developments: Hougang is one of the most developing parts of Sengkang. Defu Industrial Park is going to be redeveloped which will surely offer great job opportunities and better working environment for most of the people. In addition to it; various other cycling network and amenities center, Lorong Halus Industrial Park, are going to be established in the city which will surely open up more job opportunities and hence serve as one of the other reason for hiking the prices of the apartments day by day. Some other developmental projects are Serangoon Sub-Regional Centre, Seletar Aerospace Park and much more.

Government master plans: According to the governmental master plan the town of Sengkang is an exciting prospect for future Rivercove Residences EC which includes new schools, healthcare facilities, shops, parks and various other residential areas. The main aim of the government masterplan is to create a self-sufficient community where everyone can earn by its own using their own capabilities and master skills. Various new facilities and improvements are going to established soon in this sector in future too. According to recent various new deals are also going to crack in the upcoming future so as to provide more job opportunities.

Unique Selling Guide

  • Rivercove Residences EC is going to provide residential apartments at the best location.
  • It is just 1KM distance away from the reputed Nan Chiau Primary School
  • It is a joint venture of high-end developers Hoi Hup Realty and Sunway Developments.

It includes all the amenities nearer to it.…

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