Guide to Buying a New Launch Under Construction (BUC)

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Should You Buy a Building-Under-Construction Property?

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Understanding Building under Construction (BUC) Loans in Singapore

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Progressive Payment Schedule for Building under Construction (BUC) properties

Under the progressive payment scheme, the drawdown of your mortgage is scheduled into various stages as shown in the below following table:
Stage
Payment under a standard payment scheme ( % of purchase price )
Upon the grant of Option to Purchase 5% – 10% (booking fee)
Upon signing of the Sale & Purchase Agreement or within 8 weeks from the Option date 20% less booking fee
Completion of foundation work 10%
Completion of reinforced concrete framework of unit 10%
Completion of partition walls of unit 5%
Completion of roofing/ceiling of unit 5%
Completion of door sub-frames/ door frames, window frames, electrical wiring, internal plastering and plumbing of unit 5%
Completion of car park, roads and drains serving the housing project 5%
Temporary Occupation Permit or Certificate of Statutory Completion 25%
On completion date 15%
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Understanding Building under Construction (BUC) Loans in Singapore

Why do people want to buy properties still under construction? After all, there are more risks involved in purchasing an uncompleted house versus a completed one. Who knows? The developer may go bust before the property sees the light of day.
Well, the “early bird catches the worm” mentality is at play here. Some buyers want to grab the best units: units with the most beautiful views, etc. But more often than not buyers are motivated by the monetary savings that comes with early purchases. Developers dangle early-bird perks such as a per-square-foot discounts, or the absorption of stamp duties or other administrative costs.
For whatever reasons you are buying a BUC house, you will likely finance it with a loan. This article provides some useful information about BUC loans.
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Buying property in Singapore: Purchasing property under construction

How are you protected?

• The developer is required by law to provide properties that are free of defects, and you have a year’s warranty for them to fulfill their obligations.
• If the unit ends up bigger than the original floor plan, the purchaser does not pay extra; but if it ends up more than 3 percent smaller, the developer must recompense you pro rata at the original price per square foot.
• The developer may not deviate from the approved plan without approval from the BCA (Building and Construction Authority). If he uses cheaper materials or omits work he must reduce the price accordingly.
• If the building differs substantially from the plans, you can pull out of the agreement and demand a full refund, plus interest at 10 percent per annum

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Property Buying Guide – New Launch Building-under-Construction Condo

Buying a property in Singapore is a major investment, and buying a building-under-construction BUC properties heightens the risk. There’s no transaction history for you to check, and no way of knowing if the developer will fulfill the marketing hype. Still, you may be convinced by the lower initial costs, or by the high demand for a hot property, or a potential hot new area helmed by the future master plan. If that’s the case, then here’s what you better look for, before forking out the Option to Purchase or Sales and Purchase Agreement:
What is an Building-under-development condo?
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Common Terms in Sale & Purchase Agreements

You may now have a better understanding of the whole process of buying a house after reading about theconveyancing process. You put down your option fee, happily waiting for your chance to sign off on your new housing purchase. Some days later, you then receive a stack of dauntingly thick and wordy documents for your signing. Fret not, for in this article, we will guide you through the salient terms which you should take note of in your Sale and Purchase Agreement for the purchase of your EC (Executive Condominium) or Condominium unitin a building that is still under construction.
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Property Hotspots! What Buyers And Sellers Should Know

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HDB Property Hotspots

Private Property Hotspots

Property: “Hotspots All Over Singapore”

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Singapore’s million-dollar HDB hotspots

While data released by the Housing Development Board (HDB) shows that resale prices and transactions for HDB flats both fell in 3Q2017, the number of resale HDB flats that were sold for over $1 million are on the rise.
This year, at least 42 HDB resale units were sold for over $1 million and above. This is compared to 20 units in 2016.
In this article, we delve deeper into the prices, locations and transaction volumes of these “million-dollar” flats.
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This is why the north-east is a hotspot for foreign property buyers this year

In 2017, properties within district 19 (Serangoon Garden, Hougang, Punggol) saw the highest level of demand from buyers of foreign nationalities. In this article, we will look at a few factors that are driving this trend.
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2018 Government Land Sales Reserved List

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Refinancing Your Home Loan Guide 101

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When to Refinance Your Home Loan in Singapore

Is refinancing the same thing as repricing?

The short answer is: no.
Repricing is the process of switching between home loan packages within the same bank, while refinancing involves switching to a loan package offered by a different bank.
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Basics of Home Loans Jargon

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Making Sense of Home Loans

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Time to refinance your mortgage? Yes, no, maybe

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HDB / Private Property Refinancing

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Documents required for assessment

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TDSR Rules on Refinancing Fine-tuned

Refinance Home Loan, Housing Loan & Mortgage

Don’t just settle for what your current bank is offering you. Compare and discover the best refinancingpackage for your home loan interest rates and get the best deal!

Home Loan Refinancing Calculator

Get the lowest Home Loan Refinancing rates in Singapore now! Use our FREE home loan refinancing calculator to compare home loan refinancing packages offered by Singapore’s best banks.

Refinancing Your Private Property Loan | DBS Singapore

Make the most of refinancing to enjoy potential savings on your home loan.

Should I refinance my housing loan? 10 things to consider,

Some early birds took the opportunity to refinance their home loans before the Federal Reserve raised interest rates on Wednesday. The Fed’s move is likely to lead to an increase in the local benchmark interest rates Sibor and SOR in the near to medium term. As it turned out, the three-month Sibor climbed …

Refinance Loan – iCompareLoan Singapore

Refinance for Home · Commercial Loan · Refinance for Commercial · TDSR, MSR Analysis · TDSR Commercial Analysis · Car Affordability · Mortgage Insurance · Retirement Savings Plan · Home LoanReport™ · Enterprise Solution · SME Loan · Retailer Cash Advance · Equity Term Loan · Personal Loan · Renovation Loan……

9 Things To Consider Before You Refinance Your Home Loan

Refinance home loan means lowering the interest rate that can result in significant amount of savings. Here are 9 tips if you’re considering refinance!….

Compare & Find the Best Home Loan Refinancing options

Find the best housing loan refinancing options for your need. Browse through a vast selection of bank loan packages using our mortgage tool. It’s fast and easy, apply online today!…

Refinance | HDB InfoWEB

SPR households who obtain citizenship. An SPR household has to take a bank loan when they purchase a flat. However, they may not refinance their bank loan with an HDB housing loan from us, even if they subsequently obtain Singapore Citizenship and become eligible for one…..

The Ultimate Guide to Refinancing your home loan

Take note of all these pointers and you’re definitely good to go! Reference rates can range between a Fixed Rate, floating rates pegged to SIBOR, SOR or the internal Board Rates determined by each financial institution. Lock-in periods define the amount of time one would have to keep the mortgage with the bank…..

A Guide to Housing Refinancing in Singapore

Refinancing occurs when the borrower switches from the current home loan mortgage or a commercial loan mortgage, before the end of its tenure, to another mortgage package offered by a different financial institution. It is not to be confused with repricing. ….

Should you reprice or refinance?

If you’d also like to enjoy some of these treats (i.e. lower mortgage payments every month), perhaps it’s time to refinance or reprice your existing loan package. When you refinance, you replace your existing home loan package with a new one from a different bank…..

A Guide To Home Loan Refinancing in Singapore 2018

Refinancing your home loan might be bit difficult. Don’t worry here is a guide to home loan refinancing in Singapore, gives all info you are looking for…..

The Ultimate Singapore Home Loan Refinancing Guide

It is very well known that home is where the heart is, and home loan is where all our money is. Sometimes, home loans may make our heart sink and take away the feeling of comfort and security one usually should get at home. ….

Home Loan Refinancing: 3 Things Borrowers Should Consider

Refinancing is a key consideration for many home loan borrowers since Singapore Interbank Offer Rate (SIBOR) and Singapore Swap Offer Rate (SOR) – both industry benchmark interest rates that are …

A step-by-step guide to refinancing your home loan |

Think you can get a better rate on your home loan but not sure where to start? Refinancing sounds difficult, but the benefits can certainly be worth it. Here are some helpful tips to get you on your way. step by step guide to refinancing your home loan …..

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All you need to know about buying a landed home

For educational purposes only. All copyrights belong to their respective owners.

Buying a Property

Landed Property

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Guidelines and Procedures

Reconstruction or Redeveloping One Landed Property (Single House)

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Guidelines and Procedures

Renovating Your Home

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Guidelines and Procedures

Redeveloping One Landed Property Into More Landed Properties

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All you need to know about buying a landed home in Singapore

The average Singaporean’s property purchasing journey is likely to follow one of the below scenarios:
Buy HDB. Stay in HDB until old age.
Buy HDB. Sell and upgrade to larger HDB. Stay until old age.
Buy HDB. Sell and upgrade to condo. Stay until old age.
Buy HDB. Sell and upgrade to condo. Downsize upon retirement, and return to HDB.
Buy EC. Sell and upgrade to condo. Stay until old age.
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Tips For Buying A Landed Property In Singapore

Purchasing a re-sale landed property is never an easy decision. In fact, this decision will most likely be a more difficult one compared to when you’re purchasing a newly developed condominium unit – which in most cases, would be presented to you in tip-top condition.
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Home Buying Guide – Landed Property

Landed property refers to residential property where the owner owns the land as opposed to a slice of a multi-unit condominium or apartment occupying the same plot of land.
Non-Singaporeans and Permanent Residents need approval from the Singapore Land Authority to buy landed property.
Landed property also falls under the category of private residential property, thus Singaporeans can’t own both a landed property and a HDB.
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Foreigner Buying Landed Property In Singapore

Landed residential properties are one of the most highly coveted property types in Singapore. These properties are virtually exclusive to Singapore citizens and are generally owned by individuals who have reached the upper echelons of society.
However in certain cases, permanent residents (PR) and foreigners may be able to purchase a landed property in Singapore.
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LANDED PROPERTIES IN SINGAPORE: WHAT YOU NEED TO KNOW

According to the law, landed properties are properties that are attached directly to the land that you purchase. These properties may have differing tenures and rules that govern them from the non-landed counterparts in the private sector and in the public sector – flats under the Housing Development Board (HDB).

Types of Landed Property

Landed property in Singapore have varying categories. These can be largely categorised into detached, semi-detached and non-detached housing.
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LATEST SALE TRANSACTIONS

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Before Buying a Second Property. 3 Questions you should ask!

For educational purposes only. All copyrights belong to their respective owners.

Buying a Home

What do you need to pay for?

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Rules surrounding a second residential property purchase in Singapore

With the latest round of cooling measures – the 7th since 2009- instituted on 12 January 2013, demand for residential properties could soften. Nevertheless, some cash-rich Singaporeans may still be inclined to invest in housing. This article takes a look at existing and new regulations, that have taken effect from this 7th round of anti-speculative legislation, governing Singapore citizens’ purchase of a second residential property, while still holding onto their first purchase.

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Buying Second Property in Singapore? Read These Tips First!

7 Tips Buying Second Property

1. Verify the Housing Rules
2. Know your Eligibility Status
3. Ask About the Down Payment
4. The Loan-to-Value Ratio Matters
5. Consider the Cost of ABSD
6. Assess your Total Debt Servicing Ratio
7. You can still use your CPF to fund the 2nd property
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3 QUESTIONS TO ASK BEFORE BUYING YOUR SECOND RESIDENTIAL PROPERTY

1. What type of property am I looking for?

2. Why am I purchasing a second property?

3. Can I afford it?

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Additional Buyer’s Stamp Duty (ABSD)

Liable buyers are required to pay ABSD on top of the existing Buyer’s Stamp Duty (BSD). ABSD and BSD are computed on the purchase price as stated in the dutiable document or the market value of the property (whichever is the higher amount).

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What Factors Should You Consider Before Buying a Second Property?

The profitability of property investment is enticement enough to buy a second property. But buying another property is also a risky move that can wreck your finances if you’re not prepared. That’s why it’s important to understand both the housing market and your responsibilities as a property owner.
So before you purchase your next property, become familiar with the following:

• Know the Housing Rules
• Know the Property Taxes
• Know the Rental Rates
• Know Your Debt to Net Worth Ratio
• Know the Current Home Loan Interest Rates

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Owning both HDB flat and condo: How much would one really need?

Most Singaporeans start out with buying a HDB as their first home, and hope to upgrade to a private condominium in the future. But what about owning both HDB flat and condo at the same time? How does that work out financially?
Factors to consider when owning both HDB flat and condo
Before you even think about buying a condominium while you currently own a HDB flat, you might want to consider these factors first:
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3 Questions I should ask myself before buying a second property

4103
With property prices dipping south in recent months, you might be tempted to buy a second property. Whether you are buying it for investment purposes or as a vacation home, there are many considerations to be taken into account before you make the final purchase, and commit a huge chunk of savings into it.
Below are 3 key questions you should ask yourself before you take the plunge:
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CPF to Purchase Property? What You Should Know

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DOWNLOAD Guide on using CPF for buying private properties

3 Key Factors You Should Know When Using Your CPF to Purchase Property

Using your CPF funds – What can you use it for?

When you buy property, you don’t just hand over a million dollars to the cashier and then wait for the change (if any).
You will actually be paying for a series of things at various junctures, and will need to know before hand which of these items you can use your CPF OA money to pay for.
CPF OA funds can be used to pay for the following:

Downpayment

Your CPF savings can be put towards your downpayment. Do note, however, that you might still required to put up some cash.

• HDB flat buyers taking an HDB loan: 10% downpayment, which can be completely paid with CPF savings.
• HDB flat buyers taking out a bank loan: 20% downpayment, of which at least 5% must be paid in cash.
• Private under-construction development: 20% deposit, of which at least 5% must be paid in cash.
• HDB resale flat: Deposit of up to $5,000 which must be paid in cash.
• Private resale property – Deposit of at least 5%, including an option fee of at least 1% which must be paid in cash

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Private Properties Scheme

The Private Properties Scheme enables CPF members to use their CPF Ordinary Account savings to buy or build private residential properties in Singapore for their own occupation or investment.

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CPF Board – Property with Less Than 60 Years Lease Calculator

This calculator helps you to determine your eligibility and the maximum amount of CPF that you can use to buy a property with remaining lease of less than 60 years, but at least 30 years.
Please note that the calculator is applicable if the date of purchase is on or after 1 July 2013 for HDB flats, and from 19 July 2005 for private properties.

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Guide to Using CPF for Private Residential Properties

Under the Central Provident Fund Board’s Private Properties Scheme (PPS), you can use your savings in CPF Ordinary Account (OA) to buy or build private residential property for occupation or investment.
It can be used for the following:

• Pay purchase price of the property
• Repay housing loan in part or whole and to service monthly housing loan instalments
• Repay construction loan in part or whole and to service the monthly loan instalments taken to buy land and/or to construct a house on that land
• Pay stamp duty, legal costs, survey fees and other related costs incurred in the property purchase, refinancing and/or construction of the house

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How much CPF can I use for my house?

Thinking of financing your new home with your CPF savings? The amount of Ordinary Account (OA) savings you can use is subject to the CPF housing limits, namely the Valuation Limit (VL) and Withdrawal Limit (WL). These limits are put in place to ensure you have enough savings for your retirement years.

Here’s how the VL and WL will apply to you depending on the type of loan you are taking and the property you are buying:

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Buying a Home

What do you need to pay for?

Buying a home is probably the biggest financial commitment for most Singaporeans. It is a long-term commitment which should be carefully planned.
Read more…

How Much CPF Can You Use For Your Home?

CPF limits protect your retirement nest egg, while allowing you to attack your housing loans.

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3 Changes to the HDB resale process you must know

For educational purposes only. All copyrights belong to their respective owners.

Easier and Faster Resale Transactions with New HDB Resale Portal

Buying and selling an HDB resale flat will soon be easier and faster with the introduction of the new HDB Resale Portal. As announced at MND’s Committee of Supply in March 2017, this is part of HDB’s continuous efforts to streamline its resale process, reduce transaction time and provide added convenience to flat buyers and sellers, under the initiatives of the Real Estate Industry Transformation Map (REITM).
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How Will the New HDB Resale Portal Benefit Singaporeans?

Dying to move out of your parents’ home into a cosy HDB flat of your own? Then 2018 might be the year it happens. That’s because the new HDB Resale Portal has gone live as of 1st January.

To be fair, Singaporeans have already gotten used to using the Internet to source for and sell property.
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The HDB resale portal is officially up and running: here’s what to expect

On 1st January, the HDB resale portal was officially launched. This new website that streamlines the process of buying and selling resale flats is touted to be “one of the biggest transformations to the HDB resale market processes in decades”, and is said to bring an unparallelled amount of convenience to homeowners and flat buyers.
Read more…

New HDB resale portal to go live on Jan 1
SINGAPORE: Starting from Monday (Jan 1), all new resale transactions would have to be submitted through a new Housing and Development Board (HDB) resale portal.
The portal, which goes live at 1pm, could see the time taken to complete a resale transaction cut by half. Currently, a resale transaction takes about 16 weeks and requires two appointments with HDB.
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How will the new HDB resale portal shape Singapore’s property scene?

Singapore is fast becoming the home of disruption. Fintech disruption, car share disruption, train service disruption, etc. Now, even government entities like HDB are joining the game, with the launch of the new HDB resale portal. Will this be the end of property agents, or does it merely signal 37 confused attempts to remember your Singpass, before you give up trying to use it?
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Smoother transactions with HDB resale portal

The HDB resale portal – a site that streamlines the buying and selling of resale flats – is being launched today, marking one of the biggest transformations to the HDB resale market processes in decades.
All flat sellers and buyers must switch to submitting their resale applications on the portal, which can be found on the HDB InfoWeb at www.hdb.gov.sg. They can log in using their SingPass.
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HDB resale process goes digital with new portal launch on Jan 1

To ease the transition, HDB is deploying a team to man a dedicated customer service line and a helpdesk at HDB Hub. In addition, there will be a HDB customer relations manager assigned after a resale application is accepted. The public could also attend seminars to learn about the resale transaction process.
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6 changes to the HDB resale process you must know

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Is Now The Best Time To Buy Residential Properties In Singapore?

For educational purposes only. All copyrights belong to their respective owners.

WHAT IS THE REAL ESTATE MARKET CYCLE? IS NOW THE BEST TIME TO BUY RESIDENTIAL PROPERTIES IN SINGAPORE?

FORECASTING AND PREDICTING

We all know that the development and construction of a building takes years, and this results in a lagged relationship between demand and supply for properties. As early as 1876, an American political economist and journalist named Henry George observed this dynamic — which caused a cycle with recurring phases of booms and busts.
Understanding and analyzing of the real estate/ property cycle is therefore essential and will be beneficial, in order to enhance investment-decision capabilities and determine when is the ideal timing to buy properties, be it for investment or occupational purposes and for investors or homebuyers. Marketers too, have to be familiar with this consistent pattern, decide when to launch and implement new marketing strategies or activities.
The real estate market cycle is measured by changes in prices and volume of sales of properties. It reveals four distinct phases, namely Expansion (peak), Decline, Recession (bottom or trough) and Recovery:

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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.
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When is the best time to buy a property?

Many people will ask, “Is now the right time to buy a property?” The question we always ask in return is, “Are you buying to invest or to stay in?”
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Is it a good time to buy property in Singapore?

Anthony Couse, JLL CEO of Asia Pacific, believes it is, despite the ‘prohibitive’ additional buyer’s stamp duty still in place

Briton Anthony Couse moved to Singapore from Shanghai in April last year following his appointment as JLL CEO of Asia Pacific. “I’m your perfect example of a foreigner,” says the 51-year-old. “I’d love to buy a home in Singapore because I think, market-wise, it’s a good time.”
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Good Time To Buy Investment Property Now.

Morgan Stanley thinks that property prices in Singapore will double by 2030.
Is a good time to buy investment property now?
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Why NOW may be the best time to buy property

Property prices have fallen across the board, but home owners still aren’t biting. In some cases, this is an effect of a weak economy, and rising interest rates. In other cases however, some may have taken the route of property investors – they want to wait for prices to drop, and time the market. But rather than being prudent, this could be a mistake.
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Property market perking up, but rents are down. To buy or not to buy?

There’s renewed interest in the private residential property market. But the foreigner population is declining and growth is slowing. Investors, be cautious.

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Good time to buy that dream home?

Rise in sales transactions, stabilising prices are encouraging signs

Home seekers who have taken a wait-and-see attitude may be more encouraged to dip their toes in the property market this year.
The sector is experiencing an upturn in sentiment, thanks to private home prices declining at a slower pace and increased sales.
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Singapore’s Latest Population Statistics and Outlook for the Property Market

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