Kumar Properties Who can buy HDB flat in Singapore?This question is one of the most frequently asked question by the people. Generally people have questions like who can buy HDB flat? Or Is PR eligible to buy HDB flat in Singapore? There are multiple eligibility...
Kumar Properties How to Upgrade from HDB Flat to Private Property?In Singapore, almost 80% of the people have HDB flats. Their main aim is to buy better private property. If you have bought your first HDB flat with an easy process, they upgrading HDB flat is simple....
Private New Home Sales Receded By 64% In June On Dearth Of New Launches; High-end Home Sales Continue To Shine
Kumar Properties Private New Home Sales Receded By 64% In June On Dearth Of New Launches; High-end Home Sales Continue To Shine Private new home sales fell sharply in June as the lack of fresh project launches drove a 64% decline in transactions from May to June....
While you are buying a property, you are not just buying a unit or residential property itself, you are also investing in the surroundings and the neighborhood – not for now but also for the future. Generally, buying property in an unsafe neighborhood or inconvenient location is not good for investment.
Buying property at good location can increase the value of your property in the future. Because of upcoming MRT Stations, new amenities home value will rise day by day. Apart from location analysis, most of the investors will review the capitol growth and rental potential of residential property. As well as investors think targeted tenants when you lease out the unit for rental income.
Upgrading property is the biggest dream to many of the property owners. If you have decided to upgrade for an HDB resale flat, here is a step-by-step procedure to upgrade your property.
Usually, those who purchased HDB, must wait 5 years to sell HDB property and buy other private property. HDB properties have Minimum Occupation Period (MOP). During MOP period, you must live in the HDB flat you bought.
Prices of resale condominium units edged up for the 22nd straight month in May, with transactions rising as buying sentiment improved despite property cooling measures. In May, condominium resale prices rose 0.3 per cent, lower compared with April’s 0.7 per cent, according to flash figures from real estate portals 99.co and SRX released on Tuesday (June 14).
Compared with May last year, prices were up by 8.4 per cent, data showed. In May, prices of condominiums in the city fringes went up by 0.7 per cent and those in the suburbs rose by 0.5 per cent, while those in the core central region fell by 1.2 per cent. Huttons Asia chief executive Mark Yip said the successful launches of two projects in the city fringes – Piccadilly Grand in Farrer Park and LIV@MB in East Coast – resulted in demand spilling over to the resale market last month, which supported the rise in prices. Meanwhile, resale volume climbed by 1.6 per cent, with an estimated 1,572 units changing hands in May, up from 1,547 units in April.
Upgrading from HDB to a private condo is followed by many people. Numerous Singaporean families turned their dream into a reality of buying and staying in condo. Several households currently wanted to live in private condos rather than in HDB for exclusive facilities and different lifestyles.
Due to the growth of the HDB resale prices in the past few years, many of the house owners have decided to upgrade their property. In the second half of the 2019 HDB resale price values started to recover after booking six consecutive years of decline. In 2021, there is a sudden increase of HDB resale prices by 12.7%, following a 5% increase in 2020. Because of this reason many owners are selling their HDB flat and investing private property.
As Singapore government provides extensive measures in the form of market regulation and financial grants, most singaporeans can afford to own a home.
In Singapore the type of property you buy mainly depends on your residential status. To buy a HDB flat, one must be a permanent resident(PR) or a Singapore citizen. Singapore Citizens and PRs are allowed to purchase any type of private properties (including apartments and landed bungalows) and ECs, but do take note of certain restrictions regarding ownership of HDB flats.
In these recent years, many people are purchasing property under their children’s names. Buying property is the biggest dream for many people. In 2019 there are some articles mentioned there is no data about it but there are some signs that a number of wealthy families are buying private property under their children’s names.
There are some queries about this topic. Why do parents purchase property under their children’s names? Are there any benefits in the future for their children? Any financial concerns involved – should follow this rule? In this way, there are many things people have confused about purchasing a property.
Buying instinctly, is seldom a good idea. And for a major expense like a property, entering the market without doing in-depth research and analysis is extremely not sensible. May seems to have a good investment opportunity, but it is not good to advise to go in blind, to speak. In fact, if it seems to be good is true, it warrants for a closer look.
So, What we do? Before commencing on house hunting, consider it, why should I buy this property? It is simple to hear, but it is good to have a clear-mind about why you enter into the property market. For instance, are you planning to move yourself, is your intention to rent it out, do you want own an existing property. What do you want to do with it? If your intension is to hold on your existing property, you have to pay the additional buyer’s stamp duty (ABSD) for your second property purchase.
An Additional Buyer’s Stamp Duty (ABSD) of 35% will be imposed on any transfer of residential property into a living trust from 9 May onwards, as announced by the Ministry of Finance late on 8 May. Previously, when a residential property is transferred into a living trust, Buyer’s Stamp Duty(BSD) is payable. Depending on the profile of beneficial owner, ABSD is also applicable. When there is no identical owner at the time of transferring the residential property, ABSD may not apply.
Budget 2022 – Tax rates for Residential Properties will be raised, this was announced by Singapore Government Finance Minister Lawrence Wong on 18 Feb 2022. They want to increment in two steps, starting with the Tax payable in 2023, with properties at the higher end seeing steeper hikes.
The property tax rates for owner- occupied properties for the segment of yearly value more than $30,000 will be raised from 4% to 16% presently, 6% to 32%. And tax rates for non-owner-occupied residential properties, will increase from 10% to 20% currently, to 12% to 36%.
As you are going to buy for the first time, there are many things to fear. Most people do not have proper knowledge in buying & selling properties so it may be difficult to choose the perfect property that could possibly enjoy growth and fit within affordable budget. Mostly the first time buyers number one choice is either the next BTO or a resale flat close to their families and they think of their future and consider that they can afford of the public housing. Is this the right choice.
If all you want a peaceful life, this is the right choice. But if you want earn more for a better future and lifestyle, then you have to consider other options. Let’s have a look.
Whenever a seller want to sell his property in an specific time, the seller would assume to sell for a high price, by feeling to do this so, they won’t be buying high price as well? Here property prices are increasing continuously, there is no such need. And many of them bought their properties at a relatively lower price, because they can’t find anything similar in that low price bracket in any given market, let alone this sizzling hot market.
Are you looking to invest in property? Don’t know how to buy a property? Need guide about property investment? Most of these queries having to the first-time buyers only, there are many things you may fear about property investment. Due to lack of experience or knowledge in buying or selling properties, So we are here to guide from first step to buy property. This article may help you to understand about property investment.
Around 6,000 Housing Board flats will be built on the Keppel Club site in the Greater Southern Waterfront (GSW), with the first Build-To-Order (BTO) project to be launched for sale within three years. These units are part of the 9,000 homes that will be built on the 48ha site, which will offer unique waterfront living that is close to nature, announced National Development Minister Desmond Lee.
The remaining 3,000 units are expected to be private housing. A mix of public and private housing developments will be progressively scheduled for launch in the next three to five years, said the Urban Redevelopment Authority (URA). The 48ha site at Keppel Club – about half the size of Bidadari estate – comes under the mature town of Bukit Merah and is bounded by Telok Blangah Road, Berlayer Creek and Bukit Chermin. It has been earmarked for residential use in the URA Master Plan since 2014.
There is every chance that property buyers, both local and foreign, will be keeping an eye on Singapore as an investment destination for homes. Since the onset of the pandemic, Singapore has been a beacon of stability.
The nation’s pandemic response earned high praise from the World Health Organisation and the International Monetary Fund due to its robust economic policy framework that enabled the authorities to mount a coordinated and comprehensive policy response, with fiscal policy acting as a first line of defence.
Over the years, I have met many property buyers and owners who made many common mistakes when it comes to property. Therefore, I would like to take this opportunity to share my insights with you. At the end of the day, my objective is to help everyone to avoid making costly mistakes which can sometimes amount to hundreds of thousand dollars.
The above is one of the most common mistakes which I have witnessed in my real estate career. Most people follow the herd mentality and rush to buy when everyone is buying. On the opposite, when market is quiet, people then to hold back.
I will be sharing with you on some investment tips that you must take note of when buying a property. How to determine freehold property with the right price tag? And how to determine the exit strategy? What should be the exit price for your property?
How do I determine which property to select? I have always stand by my Number 1 Rule – to look for the Correct Entry Price. Let me share with you in detail by using a Jervois Mansion as a case study. This project happens to be a FH located at a super good location, near to MRT station and Orchard Road.
Buying or selling a property is a big decision for many of us because everyone is fearful of losing our hard-earned money especially when we are making the first move.
For those who have purchased your first property in the past, I am very sure you faced many fears and uncertainties when you are penning down your signature. I can still recall the stress when I was making that decision.
Many people always ask me – Is it better to buy a Freehold (FH) or Leasehold (LH) property in today’s market? Therefore, I decided to write this article to share my thoughts with you so that you can have a better understanding when it comes to selecting your choice property.
If given a choice, I believe most people will prefer for a FH property, but does it mean that all the FH property will definitely make profit at the end of the day? We have witnessed many LH properties which made good profit margin too. Hence, it is always good to know how to determine the right property.