Singapore’s Property Market: Is 2018 The Right Time To Start Investing In Private Properties Again?

Investing in Singapore’s property market doesn’t necessarily mean you have to own a condominium unit. (via dollarsandsense.sg)

By Timothy Ho, via dollarsandsense.sg

SINGAPORE — URA reported that the private residential property index for 3Q2017 have increased by 0.5 per cent. This is the first time an increase has been seen, after 15 straight quarters, or close to four years, of decline.

Having endured a lacklustre market for four years, there is finally good news for property experts and real estate developers to get excited about. But should you, as a retail investor, be looking to jump back in to the market now that sentiments are slowly starting to pick up?

Of course, this is the million-dollar question on everyone’s mind. Should we buy a private property now in the hopes that we can strike it rich when the market takes off, or do we risk missing out on the cycle?

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For Sale – 254 Pasir Ris Street 21 (HDB, 5Rm Improved)

Looking for a dream house? This 5-Room HDB flat is a great family home with updated features. Located in a desirable neighbourhood, you’ll find yourself walking distance to amenities. Spacious, inviting, and reasonably priced. This immaculate home is your retreat from the modern world.

The 254 Pasir Ris Street 21. Welcome to your new home.

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Shorter, streamlined process for HDB resale transactions from next year

The new HDB Resale Portal to be launched next year aims to shorten the resale transaction process by up to eight weeks, down from the current 16 weeks.

SINGAPORE: The Housing and Development Board (HDB) will launch a new resale portal to reduce the transaction time for buying and selling HDB flats, it announced on Thursday (Oct 19).

The HDB Resale Portal will be launched in January next year to process new resale applications. It aims to cut the time taken to complete a resale transaction by up to half the 16 weeks currently required.

Minister for National Development Lawrence Wong had earlier announced in this year’s Committee of Supply debate that his ministry will leverage technology to streamline the transaction process for resale flats.

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En Bloc Sales: How Much Do Private Property Home Owners Stand to Gain?

By Joanne Poh, via moneysmart.sg

SINGAPORE — Many Singaporean property owners think of en bloc sales as 4D or Toto, but with better odds.

But the reality is a little different, if you understand how en bloc sales work. Basically, you are getting paid to vacate your property. That means that, unless you have somewhere else to live, you will have to use that cash to buy another home.

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UOB, HSBC join mortgage war with 3-year fixed-rate packages

DBS no longer sole provider in three-year fixed-rate space; BOC’s package has varying yearly rates; OCBC conspicuous by its absence

SINGAPORE — Banks in Singapore have started a mortgage war, spurred by the lower interest rate for a longer duration, to the delight of the legions of home buyers who are pouring back to a buoyant residential market.

Last week, both United Overseas Bank (UOB) and HSBC launched three-year fixed-rate home-loan packages which until now had been mainly the preserve of DBS Bank, the nation’s largest housing-loan provider. Bank of China (BOC) also has a three-year fixed-rate package but with varying yearly interest rates.

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Structural walls of HDB flats may leave room for flexible layouts

SINGAPORE — Structural walls in the middle of a Housing Board flat may soon be a thing of the past, allowing home owners to make the most of the space they have.

At Woodleigh Glen, a Build-To- Order (BTO) project in Bidadari ready in 2021, all 1,000 units will have their structural beams and columns tucked to the edges, so that residents can reconfigure the internal space according to their needs.

The HDB will erect walls, but residents can hack these down at their own cost. Currently, most BTO flats have walls that are part of a structural wall, making it difficult to have a larger, open space.

An artist’s impression of Woodleigh Glen, a BTO project in Bidadari, where units will have their structural beams and columns tucked to the edges, so residents can reconfigure the internal space. Such flexi layouts were first seen in Skyville@Dawson, but could soon be standard fare (via straitstimes.com)

For example, newlyweds can start off with a flat layout that gives them a larger bedroom or living room. As their family grows, they can erect a wall to form a nursery.

Such flexi layouts were first seen in Skyville@Dawson, whose residents began collecting their keys two years ago.

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