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Summary of Property Cooling Measures Till Date January 15, 2013

Singapore government has since implemented their 7th round of property cooling measures. The objective is to moderate the prices and to stabilize the market.

With effect from 12th Jan 2013, PRs will need to pay additional 5% stamp duty of the purchase price for 1st property, on top of the normal stamp duty payable. Singaporeans buying 2nd and subsequent private property will need to pay additional 10% stamp duty of the purchase price. PRs whom are genuinely looking to buy for own stay are badly affected.

Loan to value for 2nd private property onwards are also reduce, in view of the low interests rate. Some of these measures are probably temporary as quoted by the government as well. Probably when the market sentiment calms down, or when there is ample supply etc.

Sellers whom are selling away their industrial properties within 3 years of purchase will need to pay Seller’s Stamp Duty: 1st year – 15%, 2nd year – 10%, 3rd year – 5%.

Below is a summary of Property Measures implemented so far since 2009. FYI.

Summary of Property Cooling Measures Till Date

~ Extracted from PropnexLaunches.com

 

Happy 2013 January 1, 2013

Filed under: Uncategorized — Ideal Home SG @ 12:11

Happy 2013

Wishing all readers a Happy 2013! Surrounded with peace & harmony… 🙂

Thank you for following Idealhomesg…

 

Which Category of Buyer Do You Belongs To? December 28, 2012

Filed under: Uncategorized — Ideal Home SG @ 23:06
Tags:

Which Category of Buyer Do You Belongs To?

7 Types of Buyer

 

Aggressive Property Agents???

Filed under: Hongkong,Marketing — Ideal Home SG @ 15:43

Hello there, how have you been?

Are you a buyer whom is still bidding wait and see? Or are you already the proud owner of a new property or purchase? 🙂

 

The year is coming to an end. Just like to share what I had seen in my recent trip to Hongkong. So happened that my family and I were walking along the street in Jordan. One of my family was approached by this young lady with flyer, to talk about a property new launch. Not really exactly sure what’s the entire conversation about. Certainly this young lady is really aggressive to the extend to invite my family to the showroom for lunch. I wonder how much aggressive would property agents in Singapore would be, compared to this. Perhaps some consumers would probably have guard against such gesture in Singapore, or such property agents may end up in stomp.

 

We are all working for the sake of rice bowl, isn’t it. As long we don’t rob, don’t kill, don’t harm people, don’t break the law, don’t cheat, don’t really intrude into other people’s privacy, perhaps such gesture is still deem acceptable to a certain limits? 🙂

 

Happy 2013!!!

Image180 degree view of Hongkong from Hotel Roof top

 

On Property Market Sentiments August 22, 2012

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It has been a while, since I last blogged. Most of the time I have updated information, news etc in my facebook page – Ideal Home SG. Come and join me in the Facebook… just click on Ideal Home SG , “like” my page – Ideal Home SG, you are ready to move!

 

There has been lots of sentiments on the property market over this past 1 to 2 years. Since the property cooling measures in 2009, that reminds me that I am in 2 years old in this industry. Wow! How time flies.

 

We have seen from implementation of 4 years seller’s stamp duty for residential properties, loan to value from 80% to 70% to 60%. And yet we are seeing property fever moving up and down, mainly driven by the Executive Condominiums and Non-landed leased private residential properties new launches located outside central region. Prices between $550psf to $700psf for Executive Condomiums, $850psf to $950psf for Non-landed Leasehold Private Properties respectively.

 

On the other flip side of the coin, are landed properties really under-value compared to Non-landed residential properties? For Freehold/ 999 years properties, with an estimated of $950psf to $1,250psf?

 

Industrial properties has been hot too. Congratulations if you have been invested, bought and sold in the early days with decent profit. There has been rumors that government may step in soon to curb the speculations of industry properties. What’s next? What will happen?

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In view of economy’s uncertainty, what will happen to Singapore’s properties? Will prices drop? Or will it be stable? Or will it continue to move upwards? Will buyers still continue to rush for the fever? Will there be an oversupply? Come to think of it, given a small, little island like ours, our Government plays a great job in sustaining our economy. As for how the game will be like, it really voices down to how the Top plays this game… from land bidding system to managing the prices before the bubble bursts.

 

 

10 Tips on Investing in Property November 20, 2011

Filed under: Investors,Private Property,Singapore Property — Ideal Home SG @ 18:40

As a consecutive three-time PropNex ‘Champion Team Leader’, Kelvin Fong is as talented a property investor as you’ll get. He is adept at analysing the market and has helped numerous clients and students minimise risk and maximise profits. Also the CEO and co-founder of the training company Zest Academy Group, Kelvin is equally capable at spreading the property investment gospel. Here are 10 of his tips on how to succeed in the game:

 

Two golden rules
Kelvin attributes his enormous success to two important “golden rules”, as he calls them: always look for the potential upside, and always calculate the amount of risk involved in the investment. “Based on these two rules, you’ll clearly know if it’s worth investing in the property,” Kelvin assures.

 

Don’t believe the hype
Always refer to facts and figures and not the hype surrounding the property or, especially, your own hopes and emotions. Before you dive in, do your research based on the two golden rules and work out if you have sufficient funds to hold onto a property for at least a few years.

 

Enter at the right price
When it comes to choosing the right property, the starchitect‘s brand name or even the location is not as critical as the right entry price, Kelvin says. This means cross-checking a property’s price against surrounding properties’; if it is lower than its neighbours, that means you’re taking less of a risk and have the potential to make more of a profit.

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Popularity counts
Besides the affordability angle, Kelvin points out a property’s popularity as a key consideration. It has to be sizable enough—40- to 50-unit developments are too small, says Kelvin—be located in a reasonably well-known area and have a strong publicity push. “When the market goes up, these are the properties whose prices will double or triple up faster,” the investor explains.

 

Technique over concept
For greenhorns only just starting the game, Kelvin recommends a thorough step-by-step course that teaches techniques rather than broad concepts. His school, Zest Academy, equips its students with the skills one needs to identify the right properties and make astute decisions through their property investment programme, the Millionaire Property System (MPS).

 

Keep it real-time
Another bonus Zest Academy provides: the MPS proprietary software that tracks in real-time price changes in the property market. Using this, investors are able to see get the most up-to-date information on how the market is behaving so they can make the right investment decisions.

 

Look for uncertain times
The difference between newbies and “real investors”, according to Kelvin, is that the former will wait for good times to invest while the latter craves market uncertainty. “If the market isn’t good, there will be buying opportunities and interest rates rates will have to stay low,” he explains. “It can’t go up when the market is down because businesses will have problems and the government will not allow this to happen. As long as you have done your calculations and are not speculating, then you can take advantage of these opportunities.”

 

Multiply your assets
Even seasoned investors make mistakes. These investors often have trouble formulating an exit plan: when to sell their property. “They should take this opportunity to cash out their profits,” Kelvin says. “And if they do, they will probably be able to buy more properties. That is how people multiply their wealth through the multiplying of their properties. Look at the billionaires out there; they don’t just own a single property but multiple ones.”

 

Make your money work harder for you
If today a private property has exceeded its 2007 peak price, investors should seriously consider selling. “Ultimately, there’s always an opportunity to look at another asset. Do not be emotional and just hold on to the property,” Kelvin urges. “We can’t keep working hard for the money, we should use the money we earn to help us multiply our assets.”

 

Be confident
Unlike the stock market, the property market isn’t as volatile and subject to extreme changes day-over-day. Kelvin explains that as long as an investor has the adequate knowledge, holding power (the resources needed to keep a property for a few years) and confidence in the long-term economy of Singapore, “you won’t lose”.

 

 

Source from: http://sg.news.yahoo.com/blogs/property-blog/10-tips-investing-property-040354483.html

 

Interest in River Place gathers pace (via Lushhomemedia) August 16, 2011

The 509-unit condominium River Place located at Havelock Road has long been a favourite among property investors and expatriate families largely because of its location — just at the edge of the CBD and overlooking the Singapore River, say property agents. It’s also within walking distance to the nightspots in the Mohamad Sultan neighbourhood, Robertson Quay, Boat Quay and Clarke Quay, as well as the Clarke Quay MRT Station. “River Place typicall … Read More

via Lushhomemedia

 

Are private home prices in for a correction? (via Lushhomemedia) August 13, 2011

Somehow, deep down, we – especially those of us who have been keeping a close watch on the private housing market – know that an external crisis or crises, like the ones ravaging global stock markets now, were going to happen way ahead of the "perfect storm" some had forecast for 2013/2014 for the property sector here. I am talking about the repercussions arising from the strong possibility of the United States economy slipping back into recessio … Read More

via Lushhomemedia

 

City Square Residences hits a record $1,709 psf (via Lushhomemedia) August 2, 2011

New condominiums in the city fringe, particularly those next to MRT stations and near the heritage area of Little India, have seen prices setting new highs recently. According to caveats lodged with URA, over the week of June 28 to July 5, a seventh-floor 570 sq ft studio apartment at City Square Residences located at Kitchener Link was sold for $975,000, or a record $1,709 psf. Another unit in the development, this time an 840 sq ft two-bedroom … Read More

via Lushhomemedia

 

Small units increase house price volatility: IRES (via Lushhomemedia) July 29, 2011

From January to May last year, prices of small apartment and condominium units rose 11.1 per cent compared to apartments and condominium units (or non-landed homes) in the prime and non-prime regions which saw lower gains of 5.4 per cent and 6.2 per cent respectively. According to data from the Institute of Real Estate Studies (IRES) at the National University of Singapore, prices of small units grew 6.9 per cent from March to May after the cooli … Read More

via Lushhomemedia