Mercs: property news & updates

[13177]

On 11/10/2023 at 12:53 AM, Mercs said:

Norm now anywhere also can be 'no 1mil nk talk' for big units- eg: maisonette, jumbo etc -https://www.asiaone.com/money/most-expensive-woodlands-hdb-flat-sold-over-1-million-whopping-220k-more-unit-3-floors-down

One reason probably due to covid WFH, many now come to realise the importance of having bigger space. Thats why as mentioned previously for BTO always go for the biggest can afford = the bigger the more huat future.

Me personally would not pay extra for reno which may not be to my taste, but some may like the convenience of not having to do it no waiting time can move in asap.

 

One more again yet another new record, this one 'no 1.5mil no talk!' 🤣

https://mustsharenews.com/toa-payoh-dbss-hdb-record/

Toa Payoh Top-Floor DBSS Unit Sells For S$1.56 Million, Sets New HDB Resale Record

Even bigger unit also should not mean it can or it should sell at no 1mil no talk lo. Until now i still don't understand what the rationale is lo. Does it mean people now have become more richer and earning power also become very high, that's why can afford to pay such a crazy price for a HDB.

True that when buy brand new BTO, it is best to go for bigger unit, at least a 4 rm or bigger. No matter which location, after MOP when sell, the price default at least $600k and higher.

Paying extra for reno maybe buyer would buy only when the buyer like the reno, so that buyer can save on reno costs and can move in asap without having to wait for reno. So the seller must be able to find such buyer who is willing to pay higher price for the unit due to reno.

[Mercs]

On 11/10/2023 at 8:11 AM, 13177 said:

Even bigger unit also should not mean it can or it should sell at no 1mil no talk lo. Until now i still don't understand what the rationale is lo. Does it mean people now have become more richer and earning power also become very high, that's why can afford to pay such a crazy price for a HDB.

True that when buy brand new BTO, it is best to go for bigger unit, at least a 4 rm or bigger. No matter which location, after MOP when sell, the price default at least $600k and higher.

Paying extra for reno maybe buyer would buy only when the buyer like the reno, so that buyer can save on reno costs and can move in asap without having to wait for reno. So the seller must be able to find such buyer who is willing to pay higher price for the unit due to reno.

Willing buyer willing seller, as mentioned previously those buying these type million dollar flats likely cash rich sold their pte with nice profits rightsize hdb, only using part of the profits not so pain more willing to pay higher for the size, these older flats with lease running down also may not be of much concern, likely stay till end and with more than enough adequate retirement funds from sale of the pte.

Yes, bto99 for the win, this one is bao jiak sure profit gao gao future, so getting the biggest can afford is no brainer if intend to sale upon MOP or upgrade pte.

As above, cash rich buyers so willing to pay higher price as well as for reno, no need wait. Property prices already chiong to records highs and still going up, seller no worries to find such buyers, which is why we keeping seeing new hdb record prices.

[Mercs]

UP UP and away!

 

https://www.srx.com.sg/research/64681/hdb-resale-prices-on-the-rise-resale-volume-increases-month-on-month-in-october-2023

 

 

[Mercs]

On 11/8/2023 at 12:41 AM, Mercs said:

Thats why can never stress enough the importance of having a longer lease, which would then provide the most basic plan B options as near 90% are hdb owners, with majority it being their one and only most valuable asset- eg: 1) sell to rightsize smaller 2) lease buyback 3) rent out etc.

Also with most using CPF to fund, if selling preferably do so by age55 to FRS/ERS ready for cpf Life at 65-70. Not having to worry about $ at retirement ... priceless.

 

 

On 11/8/2023 at 11:50 PM, Mercs said:

Preferably 55 but not all same so depend on individual requirement, key is not be asset rich cash/cpf poor.

Cpf funds back for FRS, SA shielding, after purchase excess OA park at SSB or Tbills etc.

 

https://gutzy.asia/2023/10/05/only-50-of-singapores-active-cpf-members-met-frs-in-cash-for-2022/

Only 50% of Singapore’s active CPF members met FRS in cash for 2022

 

https://www.asiaone.com/singapore/fewer-singaporeans-able-spend-beyond-basics-ocbc-survey-finds

Fewer Singaporeans able to spend beyond basics, OCBC survey finds

[Mercs]

 

 

 

 

 

 

[13177]

On 11/10/2023 at 11:09 PM, Mercs said:

Willing buyer willing seller, as mentioned previously those buying these type million dollar flats likely cash rich sold their pte with nice profits rightsize hdb, only using part of the profits not so pain more willing to pay higher for the size, these older flats with lease running down also may not be of much concern, likely stay till end and with more than enough adequate retirement funds from sale of the pte.

Yes, bto99 for the win, this one is bao jiak sure profit gao gao future, so getting the biggest can afford is no brainer if intend to sale upon MOP or upgrade pte.

As above, cash rich buyers so willing to pay higher price as well as for reno, no need wait. Property prices already chiong to records highs and still going up, seller no worries to find such buyers, which is why we keeping seeing new hdb record prices.

I look back at some HDB transaction records. Barely only around 1 year ago, the price has gone up so much. Example for a 3 rm resale at the same location, same cluster and same floor. In 2022 price was around $400K, but currently price has become $435-$450k. 😅

[Mercs]

On 11/11/2023 at 12:12 AM, 13177 said:

I look back at some HDB transaction records. Barely only around 1 year ago, the price has gone up so much. Example for a 3 rm resale at the same location, same cluster and same floor. In 2022 price was around $400K, but currently price has become $435-$450k. 😅

The often mentioned - 'SG property, good to be in as early as possible'. In land scarce SG, only direction for property prices is UP.

Same with ABSD - was 3-7-12 now 17% ... 20-25% coming, those who got in early benefit with less stamp duty paid.

 

That said, going forward next few years property prices/rental to stable seeing less upside-

HDB massive influx of BTOs more buyers to gravitate towards that more affordable/good locations eg: Bayshore, Pearl Hill etc

PTE new launch prices already reached equilibrium, developers now more cautious with land bids as seen with lower bids for future plots same area.

Rentals also to soften with more projects attaining TOP - https://www.businesstimes.com.sg/property/singapore-face-first-rental-slump-four-years-bloomberg-analyst

 

Huat ah!

 

[Mercs]

On 11/1/2023 at 11:45 PM, Mercs said:

The J'den should be hot ... if developer price it right ... probably launch weekend near soldout.

On 11/2/2023 at 12:17 AM, Mercs said:

JLD effect ...

That was then prices - https://www.asiaone.com/jurong-east-condo-almost-sold-out-launch-day

"Units were sold at an average of $1,480 per sq ft (psf). The one-bedders went for about $1,778 psf, beating initial expectations of $1,650 psf, while four-bedders were sold at $1,400 psf."

 

Now is 'no 2k psf no talk' - https://www.businesstimes.com.sg/property/capitalands-jden-start-preview-prices-s2100-psf

"CAPITALAND Development (CLD) will start previews for its J’den mixed-use development on Saturday (Oct 28), with prices starting at S$2,100 per square foot (psf)."

 

Which is why as always for  - ' SG property, good to be in as early as possible' 😉

 

 

Wow! Avg 2,451 psf! Huat ah!

https://www.edgeprop.sg/property-news/jden-achieves-88-sales-launch-day-average-price-2451-psf

J'den achieves 88% sales on launch day, average price of $2,451 psf

 

CapitaLand Development's 368-unit J'den saw 323 units snapped up on Nov 11. It translates to a take-up of 88%, making it the best-selling new launch in 2023. The average selling price achieved was $2,451 psf.

Unit sizes range from 527 sq ft for a one-bedroom unit to 1,485 sq ft for a four-bedroom unit. While all the unit types were well-received, the one- and two-bedroom types were the most popular. "All 148 units of one-bedroom, one-bedroom-plus-study and two-bedroom types are sold out," says Marcus Chu, CEO of ERA Singapore.

"J'den is the project with the best take-up rate at a launch weekend this year", The response wasn't surprising as the starting price of $2,100 psf was deemed attractive to homebuyers, even though the average selling price of $2,451 psf achieved a new benchmark for the area.

 

 

[Mercs]

On 11/8/2023 at 11:59 PM, Mercs said:

 

 

 

https://www.edgeprop.sg/property-news/hillock-green-276-sold-average-price-2108-psf

Hillock Green is 27.6% sold at an average price of $2,108 psf

[Mercs]

 

 

 

 

 

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[13177]

On 11/14/2023 at 10:39 AM, Mercs said:

 

ICA still approved on his PR renewal even though he has stay in sg for 37 years liao. Don't know when he obtained his PR. But hearsay there might be chance they would not approve your PR again if you do not want to convert to citizenship. 😅

[Mercs]

On 11/16/2023 at 9:21 AM, 13177 said:

ICA still approved on his PR renewal even though he has stay in sg for 37 years liao. Don't know when he obtained his PR. But hearsay there might be chance they would not approve your PR again if you do not want to convert to citizenship. 😅

PR does not expire, only need to appy REP every 5 years if intend to travel out. - https://www.spic.com.sg/singapore-pr-renewal-requirements/#:~:text=The permanent residency itself does,every five years%2C sometimes sooner.

SG have one of the strongest passport in the world and do not allow double citizenship, so if wanna apply here have to give up the other, something to seriously consider.

Having PR here to stay indefinite while still maintaining home country status ... best of both worlds IMHO. 

 

[Mercs]

https://www.edgeprop.sg/property-news/absence-new-launches-october-sees-developers’-sales-slip-65-m-o-m

 

https://www.edgeprop.sg/property-news/duplex-unit-amber-skye-sets-low-1429-psf

Duplex unit at Amber Skye sets low of $1,429 psf

https://www.edgeprop.sg/property-news/losses-mount-turquoise-four-bedder-incurs-23-mil-loss

Losses mount at Turquoise; four-bedder incurs $2.3 mil loss

[Mercs]

https://www.edgeprop.sg/property-news/residential-transactions-contracts-dated-oct-31-nov-7-done-deals

Residential transactions with contracts dated Oct 31 to Nov 7 [DONE DEALS]

 

 

 

 

 

 

 

 

[Mercs]

Huat ah!

 

 

https://www.edgeprop.sg/property-news/uol-singland-sells-57-watten-house-average-price-3230-psf

UOL-SingLand sells 57% of Watten House at an average price of $3,230 psf

 

Singapore-listed UOL Group and Singapore Land Group (SingLand) announced that the joint venture partners had sold 102 (57%) out of 180 units on the first day of Watten House's private preview on Nov 18. The average price of the freehold condo on Shelford Road in prime district 11 was $3,230 psf.

Units sold included three of eight penthouses in the development, says Anson Lim, UOL general manager (residential marketing). According to Lim, 96% of the 102 buyers were Singaporeans and permanent residents, purchasing for owner occupation and investment.