Category: General

Why You Really Need? 9 CRUCIAL THINGS YOU SHOULD KNOW ABOUT HDB LOANS

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I will be glad to guide you personally “How to buy and/or sell your property like a Pro” One-to-One Online real-time web-based coaching anytime, anywhere on your PC or mobile.  Questions ? #AskRealtorMani ? ? 83004411  

What you will get

·      FREE Indicative Valuation & CMA Report for your property 

·      Below Market Value Property Deals Alert

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·      FREE Indicative Valuation & CMA Report for your property 

·      Below Market Value Property Deals Alert 

·      Insider property news and resources that property investors use.

1. The HDB loan doesn’t always cover 90 per cent of your flat price

First, note that HDB loans can cover up to 90 per cent of your flat price or valuation, whichever is lower. If you buy a resale flat at higher than the valuation, you’ll have to top up the difference in cash.

2. There is a 30-month wait time if you just disposed of a private property

If you just sold off a private property, you need to wait at least 30 months before you’re eligible for an HDB loan. This also applies to private property that was inherited, or given as a gift.

3. Not every type of income is considered when determining your loan amount

Note that certain types of income won’t help you to secure an HDB loan.

4. The age of the flat you’re buying affects your CPF use

If the remaining lease on the flat is 29 years or under, you cannot use your CPF money to buy it.

5. The interest rate for HDB loans is not really “fixed all the way”

HDB loans are loosely referred to as being fixed, because they have not changed for a long time. However, it is not true that your HDB loan interest rate “cannot” change.

6. You may be allowed to defer the income assessment

Still in NS right now? Check if you’re able to defer your income assessment

7. If you’re self-employed and don’t get payslips, make sure you accurately declare your income to IRAS; otherwise you can’t get a loan

Say you run a cash business of your own (e.g. you are paid in cash to give cooking classes, tutor students, or do odd jobs). Chances are, you don’t really have regular payslips from your client.

8. It’s not just the TDSR, there’s the MSR too

The Mortgage Servicing Ratio (MSR) restricts your home loan repayment to just 30 per cent of your monthly income. Note that this is different from the Total Debt Servicing Ratio (TDSR).

9. You cannot own more than one commercial property if you want an HDB loan

Wondering How To Own a Property? NO ABSD (ADDITIONAL BUYER’S STAMP DUTY) FOR THESE PROPERTIES. FIND OUT WHY? Rock? Read This!

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Read all my articles

I will be glad to guide you personally “How to buy and/or sell your property like a Pro” One-to-One Online real-time web-based coaching anytime, anywhere on your PC or mobile.  Questions ? #AskRealtorMani ? ? 83004411  

What you will get

·      FREE Indicative Valuation & CMA Report for your property 

·      Below Market Value Property Deals Alert

·      Insider property news and resources that property investors use.

DOWNLOAD Condo Price.pdf

Questions / Need Help? #AskRealtorMani

Get notification for Below Market Value Property Deals Alert, Returned Units, Clearance Sale, Auction Properties, Indicative Valuation Reports, Property Insider News  UPTOWN @ FARRER Send me the Brochure, Price List, Unit types & Availability

UPTOWN @ FARRER Send me the Brochure, Price List, Unit types & Availability Get e Brochure http://bit.ly/UptownAtFarrer Send me the Brochure, Price List, Unit types, Location/Site/Floor Pl…

It’s FREE and easy, nothing to lose, just try, start now   

·      FREE Indicative Valuation & CMA Report for your property 

·      Below Market Value Property Deals Alert

·      Insider property news and resources that property investors use. http://bit.ly/CondoPrice

8 considerations before buying commercial space

With the recent implementation of the Additional Buyer’s Stamp Duty or ABSD for private residential properties, foreign investors still interested in Singapore property are entering the less stringent commercial market as they wait to see the long term ramifications this new policy will have on the residential market in the near future.

For a first-time commercial investor, there are a few things to consider before you embark upon your investment. Even though commercial property may provide a higher yield than residential property, it is highly dependent upon factors such as re-zoning, new developments in the area and infrastructure.

For instance, the property you are looking at buying may have a record for strong sales due to its proximity to several densely occupied condominiums and HDB flats, not to mention it is within convenient distance to the nearest MRT station. However, if some of these developments are put through an Enbloc sale, the land is repossessed or the amount of human traffic cut down significantly for whatever reason, the price of the commercial property may drop. This in turn means that the ability for the property owner to churn a profit to pay for the mortgage and to sustain the business would also deteriorate.

In such a scenario, shop owners/renters may move out due to poor business and the property will eventually lose its ability to make a profit unless its business method is realigned.

With that being said, however, the steady stream of foreigners entering land scarce Singapore offers the perception that more developments will be springing up, especially in areas of the island which were once green and moderately populated. As a result of the growing populace, more New Towns are cropping up and more retail outlets and offices are being built to service this bloom.

Commercial property then seems like a sure bet for investors, new and veteran alike, but as mentioned above, there are a few things you will want to look out for before plunging into this sector.

Ø  Types of Commercial Property: Before you even start investing, you will need to determine the property type you want. Are you interested in retail such as shopping malls or do you prefer office buildings? Maybe you want to buy something in the Industrial sector such as a factory or a warehouse. Whatever you choose, ensure that the property is healthy. What this means is that the property should have the potential to be rented out as well as being sold in the future. In this regard, investing in commercial property is similar to investing in residential property; whatever you choose has to make you a profit in the end.

Ø  Tenure: Most properties in Singapore are leasehold due to land scarcity although there are some which are freehold. Leasehold properties are naturally cheaper than freehold but if the rental income can cover your mortgage, the tenure should not really be a concern. As most investors intend to sell their property and move on to the next one once they generate profit, it makes sense for you to choose a tenure type matching your initial budget.

Ø  Location: This is arguably one of the most important aspects in your decision making. Location is affected by the tenure and type of property you are looking for. Those two are in turn affected by your chosen location. For example, if you are looking at investing somewhere in Woodlands or Punggol, the only types available to you may be Industrial with 60 years leasehold. Pre-determining your location first will help shape your future decisions but you should approach this with the same intention as you would residential property; it must have the potential to be rented out and/or sold at a profit.

Ø  Rental Income: Location also as an effect on the rental potential of a property. Properties located in highly dense areas that are also close to MRT stations and bus terminals will certainly see more interest from retail tenants. If they have the ability to make good money from high human traffic, you would too.

Ø  GST: If you are an individual buying property, be aware of the 7% GST you will have to absorb in addition to paying the valuation price for the property. If you own a company and are purchasing the property through your company, then you can consider being GST registered to claim back the GST amount. However there are many requirements put forth by IRAS before you can claim, so it would be best to check with them on your eligibility.

Ø  Property Tax: This is a flat rate of 10% for all non-residential properties so factor this amount into your rental yield calculation.

Ø  Mortgage Loans: Most banks provide up to 80% loan of the property value with a payback period of anywhere between 15 to 20 years. It is because of this that you should pick the best location for you depending on your budget and rental yield as there is a strong possibility that your rental income may not be able to cover the mortgage in the initial period. However, if your property is in a good location, it is possible to command a higher rental yield to bridge the gap quicker.

Ø  Additional Costs: All other costs affiliated but not related to obtaining the property are also to be taken into consideration. Such costs are incurred from but not limited to maintenance and renovations fees. As owner of the property, you are responsible for the daily upkeep and workability of the property. In order to churn a profit and keep a steady income, you will need to maintain your investment in the best condition.

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Kent Ridge Hill Residences – all the convenience of city living with a hillside address

Save for a few exceptions, Singapore’s terrain is fairly flat and the tallest hill we have in the little red dot is Bukit Timah Hill. The southern region of Singapore is not without its own hilly landscape; the Southern Ridges offers a picturesque gradient which stretches from Mount Faber Park to Labrador Nature Reserve. Kent Ridge Park is part of the Southern Ridges and home to a large biodiversity of flora and fauna.

Direct access to Kent Ridge Park

Amid a slew of new launches in the last quarter of 2018, Kent Ridge Hill Residences stands heads and shoulders above the rest with its unique position by the hillside cocooned amid lush foliage. Perhaps the trump card that propels Oxley’s latest development to a league of its own is its exclusive, residents-only access to Kent Ridge Park from within the development’s grounds.

Easy access to the city

Singaporeans are a practical bunch and most will not choose to live tucked away far from the madding crowd if it takes a long time to commute to work and nearby amenities. Despite being a restive sanctuary, Kent Ridge Hill Residences is just a 15-minute drive away from the Central Business District (CBD) and an eight-minute walk away from Pasir Panjang MRT station on the Circle Line. Even nearer still are commercial hubs Mapletree Business City, one-north and Harbourfront Centre. The world-renowned National University of Singapore and medical hub National University Hospital are reachable within five minutes by car.

Positive vibes at Kent Ridge Hill Residences

For property seekers who believe in the benefits of feng shui, Kent Ridge Hill Residences’ “hillside backing sea facing” (座山望海) location is generally regarded as being positive and favourable. Ideally, homes and cities are supposed to be bound by mountains and near water for protection and wealth.

Potential Capital Upside

After the transformation of the Marina Bay and Marina South area to the glittering commercial and leisure landmark it is today, perhaps the next definitive project on Singapore’s roadmap is the Greater Southern Waterfront master plan. Works are in progress to move the port from Keppel and Pasir Panjang to Tuas in stages. Precious waterfront real estate will be freed up, setting the stage for the construction of a seamless southern belt where commercial and recreational activity operate as one cohesive whole.

Come home to nature’s finest at Kent Ridge Hill Residences

Space is a resource one will find in abundance at Kent Ridge Hill Residences. Sitting on a sprawling site spanning 29,659 sq metres (or five football fields), the five-storey apartment blocks and strata landed homes are well-placed in a spacious environment. Property buyers who value low-density living will find the vastness of Kent Ridge Hill Residences a much desired respite.

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At the Forefront of the Greater Southern Waterfront: Developments that Stand to Benefit

Find out what’s in store for the property landscape in areas such as Pasir Panjang

From its humble beginnings as a steamboat barbecue and kite-flying hotspot in the 1990s, the Marina Bay area has transformed into the leading financial hub, civic space and community playground it is today. More than 30 years in the making, the ambitious project has played an important role in shaping the cityscape of Singapore. What’s next in the works to bring the Central Area to the next level?

A new chapter in Singapore’s urbanscape

In August 2017, PSA Singapore moved all its 500 staff from Tanjong Pagar Terminal to the Pasir Panjang Terminal, well ahead of schedule in Singapore’s great port migration. PSA’s city terminals at Keppel and Brani are set to move into the newer facilities at Pasir Panjang. The Tuas mega-port is set to open progressively from 2021, with target completion taking place in 2040.

A green theme – a hallmark set to define the Greater Southern Waterfront

With Sentosa and Pulau Brani being earmarked to be part of the Greater Southern Waterfront, there’s opportunity to up the green quotient in both the islands. In the near future, we could see residences and a themed destination hub arise – nestled amid a lush forest setting.

Future waterfront housing

In District 5, there are a few developments that could benefit as the future waterfront housing belt lifts the prices of homes in surrounding neighbourhoods such as Pasir Panjang. These include the fully-sold The Verandah Residences and the recently launched Kent Ridge Hill Residences both developed by Oxley Holdings Limited.

Kent Ridge Hill Residences – Hillside Address, City Living

Sitting on a piece of land that spans five football fields, Kent Ridge Hill Residences comprises five-storey apartment blocks and strata landed homes that are comfortably spaced out. With plenty of space between blocks and individual units, property buyers who value privacy and spaciousness have one- to three-bedroom apartments, three- to five-bedroom penthouses and strata landed terraces to choose from.

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Kent Ridge Hill Residences: 110 units sold on first day of launch

Facilities

Good Location

• One of the rare development with direct access to a national park
• Kent Ridge Park at door step
• Low density, large land size
• Kent Ridge Park view and Sea view
• Greater South Waterfront
• 7 mins walk to Pasir Panjang MRT
• Near to amenities eg, pasir panjang hawker, one-north, Mapletree Business City, Science Park, NUS, NUH, international schools

Branded appliances & Quality home

• Branded appliances & Finishes : Bosch, Grohe, Electrolux, Yale digital lock, Quartz counter top
• Wall hung WC (Master & J.Master)
• Marble flooring for Strata Landed Houses
• Non PPVC construction – flexibility in layout

Fermax smart home system

• Yale Digital lockset
• Fermax smart home system (mobile access, smart aircon control, WIFI doorbell with camera, smart gateway with camera, voice control)

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