Tuesday, 29 November 2011
Monday, 28 November 2011
Singapore | Useful Information About Singapore Hdb Flat for Sale | Seven ...
The Housing & Development Board (HDB) is Singapore’s public housing authority. Its aim was to resolve housing shortage issues after Singapore gained independence in 1965, building flats mainly for rental by low-income groups. Today, HDB flats have become the most sought after properties in Singapore as they are comparatively affordable. HDB estates are self-sufficient with facilities such as supermarkets, clinics, shopping centers, schools, playgrounds and more. The convenience it promises with amenities in close proximity, coupled with the ease of transportation are some of the reasons why millions today have chosen HDB flats as their number one housing option. As such, knowing some useful information about Singapore HDB flat for sale will put you in a better position to choose the next property to purchase.
There are a total of 6 HDB flats available for purchase, all of which undergo regular upgrading works to ensure that amenities available are able to meet the needs of its people. They are Studio Apartments (SA), 2,3,4,5 room units and executive units.
Studio Apartments are the smallest of its kind and require the least maintenance. They are usually occupied by the elderly and hence have built in equipments that are up to date and an easy to use. The 2 bedroom units are designed to meet the needs of the lower income families, housing about 2 to 3 family members each. The 3 to 4 room units are targeted towards middle-income family groups, offering space and design for middle-sized families. 5 room units and executive units are the largest HDB flats that are able to accommodate large families or extended families. They have additional bathrooms and living area, and are wonderfully designed to ensure that all are able to live comfortably together. These HDB flats vary in design and layout, depending on the estate’s fixture as well as the owner’s individual taste.
Most would agree that living in a HDB flat is like being part of a closely-knit community. Getting to know next-door neighbors and having weekly gatherings at the void decks are some of the reasons why adults and kids alike enjoy being a resident of their estate.
There are various criteria to fulfill in order to qualify as an applicant for a HDB flat. You need to be able to fulfill the respective HDB regulations for your preferred housing unit, and participate in either a Balloting Exercise (BE) or Built To Order (BTO) process. In short, the BE involves interested buyers balloting for existing HDB flats, whereas the BTO process involves interested owners of a preferred location submitting tender for construction of that estate. You should check the various government websites to ensure that you are eligible to apply for a particular HDB flat at your preferred location. Other things that need your attention could include the use of your Central Provident Fund (CPF), Medisave fund levy costs.
These useful information about Singapore HDB flat for sale are critical in helping you to make a well informed decision regarding HDB flats in the future.
On iProperty – HDB section: http://www.iproperty.com.sg/hdb/ you can search for HDB in Singapore by estate, type and popularity. You get comprehensive information on buying and renting HDB. You can find out what the popular estates are, read estate guides and useful articles.
MeyerJan
http://www.articlesbase.com/real-estate-articles/useful-information-about-singapore-hdb-flat-for-sale-705847.html
Studio Apartments are the smallest of its kind and require the least maintenance. They are usually occupied by the elderly and hence have built in equipments that are up to date and an easy to use. The 2 bedroom units are designed to meet the needs of the lower income families, housing about 2 to 3 family members each. The 3 to 4 room units are targeted towards middle-income family groups, offering space and design for middle-sized families. 5 room units and executive units are the largest HDB flats that are able to accommodate large families or extended families. They have additional bathrooms and living area, and are wonderfully designed to ensure that all are able to live comfortably together. These HDB flats vary in design and layout, depending on the estate’s fixture as well as the owner’s individual taste.
Most would agree that living in a HDB flat is like being part of a closely-knit community. Getting to know next-door neighbors and having weekly gatherings at the void decks are some of the reasons why adults and kids alike enjoy being a resident of their estate.
There are various criteria to fulfill in order to qualify as an applicant for a HDB flat. You need to be able to fulfill the respective HDB regulations for your preferred housing unit, and participate in either a Balloting Exercise (BE) or Built To Order (BTO) process. In short, the BE involves interested buyers balloting for existing HDB flats, whereas the BTO process involves interested owners of a preferred location submitting tender for construction of that estate. You should check the various government websites to ensure that you are eligible to apply for a particular HDB flat at your preferred location. Other things that need your attention could include the use of your Central Provident Fund (CPF), Medisave fund levy costs.
These useful information about Singapore HDB flat for sale are critical in helping you to make a well informed decision regarding HDB flats in the future.
On iProperty – HDB section: http://www.iproperty.com.sg/hdb/ you can search for HDB in Singapore by estate, type and popularity. You get comprehensive information on buying and renting HDB. You can find out what the popular estates are, read estate guides and useful articles.
MeyerJan
http://www.articlesbase.com/real-estate-articles/useful-information-about-singapore-hdb-flat-for-sale-705847.html
Originally posted: Useful Information About Singapore Hdb Flat for Sale | Seven …
Sunday, 27 November 2011
Singapore | DBSS flats losing relevance? « Lushhomemedia
Analysts said flats sold under the Design, Build and Sell Scheme (DBSS) may be losing their relevance, as the gap in the housing market they previously served is now covered by Build-To-Order (BTO) flats.
The income ceiling to qualify for a BTO flat was recently raised to S$10,000 – the same as DBSS flats.
Since the public outcry over the record-breaking asking prices of a previous DBSS launch, Centrale 8, and the following clamp-down on land sales for such projects, some analysts believe the days of DBSS projects are numbered.
But in the housing market, it’s all about location and pricing.
Belvia in Bedok is the latest DBSS project to be launched.
It saw a healthy crowd, receiving more than 200 applications on its first day.
Raymond Chia, CEO of CEL Development, said: “Bedok Reservoir is a mature estate; we feel there’s a ready demand. If you look at houses around here, they are mainly 20 to 30 years old. People who’ve grown up in the area, they are familiar with the surroundings and amenities. Out of convenience and to be near their parents, this can be a choice to them.”
And instead of being a negative impact, Mr Chia sees the outcry over Centrale 8 as a “talking point”.
Developer Sim Lian’s Centrale 8 made the news in June when its highest asking price for a DBSS flat was S$880,000 – almost as expensive as Executive Condominiums, which boast amenities such as swimming pools and tennis courts.
Sim Lim eventually backed down and slashed $100,000 off its priciest units.
The 488-unit Belvia project has 3-room to 5-room units, and an indicative price of $570 per square foot.
“Transport is quite convenient, and a new MRT is coming up. And it’s near to the PIE and if you want to go somewhere it’s very convenient,” said one Singapore resident.
“I grew up in the East, and my parents are just staying nearby. I think the location is tied with the price. So I believe with the new MRT to be built, I think the price to pay is justifiable,” said another.
Market watchers point out that DBSS projects are public housing and have to be priced accordingly.
Mohd Ismail, CEO of PropNex, said: “DBSS price should be at least 20 per cent cheaper than executive condos, or slightly more; it could be about 25 per cent, that would be ideal.
“It would make very little sense for someone to pay a high price where the differentiation between executive condos and (DBSS flats) is not even 20 per cent. Then I think you’re not entering into a good deal.”
Two other DBSS projects will be launched later this month in Clementi and Jurong.
Source : Channel NewsAsia – 14 Oct 2011
Since the public outcry over the record-breaking asking prices of a previous DBSS launch, Centrale 8, and the following clamp-down on land sales for such projects, some analysts believe the days of DBSS projects are numbered.
But in the housing market, it’s all about location and pricing.
Belvia in Bedok is the latest DBSS project to be launched.
It saw a healthy crowd, receiving more than 200 applications on its first day.
Raymond Chia, CEO of CEL Development, said: “Bedok Reservoir is a mature estate; we feel there’s a ready demand. If you look at houses around here, they are mainly 20 to 30 years old. People who’ve grown up in the area, they are familiar with the surroundings and amenities. Out of convenience and to be near their parents, this can be a choice to them.”
And instead of being a negative impact, Mr Chia sees the outcry over Centrale 8 as a “talking point”.
Developer Sim Lian’s Centrale 8 made the news in June when its highest asking price for a DBSS flat was S$880,000 – almost as expensive as Executive Condominiums, which boast amenities such as swimming pools and tennis courts.
Sim Lim eventually backed down and slashed $100,000 off its priciest units.
The 488-unit Belvia project has 3-room to 5-room units, and an indicative price of $570 per square foot.
“Transport is quite convenient, and a new MRT is coming up. And it’s near to the PIE and if you want to go somewhere it’s very convenient,” said one Singapore resident.
“I grew up in the East, and my parents are just staying nearby. I think the location is tied with the price. So I believe with the new MRT to be built, I think the price to pay is justifiable,” said another.
Market watchers point out that DBSS projects are public housing and have to be priced accordingly.
Mohd Ismail, CEO of PropNex, said: “DBSS price should be at least 20 per cent cheaper than executive condos, or slightly more; it could be about 25 per cent, that would be ideal.
“It would make very little sense for someone to pay a high price where the differentiation between executive condos and (DBSS flats) is not even 20 per cent. Then I think you’re not entering into a good deal.”
Two other DBSS projects will be launched later this month in Clementi and Jurong.
Source : Channel NewsAsia – 14 Oct 2011
Saturday, 26 November 2011
Friday, 25 November 2011
Singapore | Real Estate Buying & Selling Guide in Singapore
Have you ever wondered how hdb and condo resale market works? Doesn't it baffle your mind a bit? Doesn't it spark your curious mind, and make you think incessantly about it? Are you interested in learning facts, trivia and other interesting information about it? You have come to the right place because every so often we update this site with various information about hdb and condo resale market. Click on the links and start reading!
Real Estate Buying & Selling Guide in Singapore
Author: Wantanee KhamkongkaewSingapore is situated in southeastern Asia, between Malaysia and Indonesia. It has a total area of 692.7 sq km, including 10 sq km water area. The country has a coastline of 193 km and it is about 3.5 times the size of Washington, DC.
Singapore became a British trading colony in 1819 and eventually developed into one of the empire’s most important trading centers. Singapore joined the Malaysian Federation in 1963 and remained part of the federation for two years. The country became independent on August 9, 1965. Now Singapore is one of the world’s wealthiest countries with strong international trade. Singapore’s seaport is one of the world’s busiest ports in terms of volume handled. The country has a per capita income equal to that of the leading nations of the world.
Singapore has a population of 4,553,009, and a population growth rate of 1.275%, according to latest statistics available. The population consists of 76.8% Chinese, 13.9% Malaysians, 7.9% Indians and 1.4% others, according to 2000 census.
A number of commercial and industrial property services and agents are available in Singapore. Most of them offer comprehensive real estate property listings of office, factory, land, shop, warehouse, retail space, building, hotel, restaurant, coffee shop and food court available for sale or rent. If you are buying, selling or renting your commercial property, it is advisable that you hire the services of a reliable real estate agent. Owners very often list their real estate properties with these agents for sale, rent and lease. They help owners market their property with maximum exposure and commitment. You can also resort to online search.
If you are buying a private property or housing development board (HDB) unit in Singapore, ensure that you understand all the pitfalls before you sign the deal. That would help you avoid getting into legal or financial tangles during and after the transaction. Find an agent who is familiar with your preferred location and the nature of property you have in mind. It is highly recommended that you hire the services of an agent from a listed real estate agency. Also ensure that he is a member of the Institute of Estate Agents (IEA). Discuss your requirements with the agent and let him know your preferences in detail. This will help him take the right decisions and serve you in a professional manner.
It is also highly recommended that you ascertain that the seller is the actual owner of the property. You can also request for proof of ownership before signing the documents. Also, verify if the seller is legally eligible to sell the property. In the case of a mortgaged private property, the bank may not allow an owner who is unable to top up the shortfall on his bank loan to go through with the transaction.
Remember that HDB development units have several restrictions for resale. The government has fixed a minimum period of occupancy for the seller before he would be eligible to sell the unit. In the case of a flat bought directly from the housing development board or bought with a Central Provident Fund grant, the owner must have physically occupied the flat for at least five years before it can be sold.
The owner of a resale unit must have physically occupied it for a period of 30 months before he can sell it. Remember that real estate transaction is a legally binding contract. You must first ensure your eligibility to purchase a property. Foreigners have certain restrictions to buy Singapore properties. Only an experienced real estate agent can help you avoid legal complications.
Once you have finally decided on the location and size of the commercial property that you would buy, consider the amount of money you are able to invest. A number of software exists to help your agent accurately calculate the cost of buying a property. It is important that you provide your agent with accurate data regarding your financial position. That will help him chalk out a proper financial plan for you. If you are going for a bank loan, it is a good idea to talk to two or three banks and find out a financial plan that suits you most.
Article Source: http://www.articlesbase.com/real-estate-articles/real-estate-buying-selling-guide-in-singapore-360738.html
About the Author
Wantanee Khamkongkaew is an independent author evaluating and commenting on leading International Property Consultants in Asia and Greater China, especially CB Richard Ellis.
There are lots of issues to be considered about hdb and condo resale market, and those that are heavily into the subject are likely to want to know more. Even if this article serves as no more than an introduction, nothing stops you from putting the information to good use.
Thursday, 24 November 2011
Singapore | Buy or Sell your Condo or HDB flat
If you are looking to Buy or Sell your Condo or HDB flat …
Call Alfred Wong Tel +65- 9858 3241
CEA certified and registered property agent, R011691F
Wednesday, 23 November 2011
Singapore | BTO supply rises, easing market imbalance
With the market imbalance indicating signs of improvement, the Housing and Development Board (HDB) recently ramped up the supply of new flats to meet demand.
According to a report by Channel NewsAsia, BTO launches in September
witnessed a moderate to low subscription rate, implying that almost
everyone will have the chance to buy a flat.
Except for a project in Ang Mo Kio, which saw about six applicants for each three-room unit it offered, other BTO projects in areas such as Sengkang, Jurong East and Punggol drew less than three applicants per flat.
In November, the HDB will launch another 4,200 BTO flats.
The report added that there are plans to develop a new town in Bidadari that can house up to 12,000 units. The site, which is a former cemetery, is located near the business district and is serviced by two MRT stations.
“The government may need five to 10 years to remove all traces of the cemetery. It may need to perhaps change the name of Bidadari and it takes also about that length of time to gradually change the impression of many home buyers,” said Nicholas Mak, Executive Director at SLP International.
To contact the journalist, you may send your message to editor@propertyguru.com.sg
More from PropertyGuru:
BTOs going ahead despite poor response
Fun run organised to celebrate opening of HDB’s Punggol Waterway
HDB prices near new Circle Line MRT stations up 10%
HDB resale prices rise faster in Q3
Except for a project in Ang Mo Kio, which saw about six applicants for each three-room unit it offered, other BTO projects in areas such as Sengkang, Jurong East and Punggol drew less than three applicants per flat.
In November, the HDB will launch another 4,200 BTO flats.
The report added that there are plans to develop a new town in Bidadari that can house up to 12,000 units. The site, which is a former cemetery, is located near the business district and is serviced by two MRT stations.
“The government may need five to 10 years to remove all traces of the cemetery. It may need to perhaps change the name of Bidadari and it takes also about that length of time to gradually change the impression of many home buyers,” said Nicholas Mak, Executive Director at SLP International.
To contact the journalist, you may send your message to editor@propertyguru.com.sg
More from PropertyGuru:
BTOs going ahead despite poor response
Fun run organised to celebrate opening of HDB’s Punggol Waterway
HDB prices near new Circle Line MRT stations up 10%
HDB resale prices rise faster in Q3
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