Collective Sales – What does this mean for home prices? En bloc 101

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COLLECTIVE SALES IN SINGAPORE: FREQUENTLY ASKED QUESTIONS

En bloc is a collective sales method that is unique to Singapore with private developers acquiring the whole development and/or adjoining properties under one single transaction. This is governed by the Land Titles (Strata) Act. The recent slew of en bloc properties in 2017 has proven that the market is indeed in its recovery phase.
For the uninitiated, you might be wondering what the big deal about en bloc property is. Thus, to help give you a better understanding, the following is a list of frequently asked questions about the en bloc process:
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Recently En Bloc Sites

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BUYING IN SINGAPORE, LIFE IN SINGAPORE, PROPERTY NEWS & ANALYSISCollective sales in Singapore: What does this mean for home prices?

The collective sales and en bloc fever in Singapore is far from over. Recent estates which have been released from sale include How Sun Park, near Bidadari, as well as Pearlbank Apartments in Outram. If successful, these will add to the approximately 2,700 homes which have been sold en bloc in 2017. This is a marked increase from the 600 homes which were sold via the same last year.
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The realities of collective sales

A growing number of old condominiums — both freehold and 99-year leasehold — are attempting en bloc sales even as rumblings among dissenters increase. What is the cost to minority owners?

The tender for Royalville, which was launched on Oct 12 was originally supposed to close on Nov 10. However, on the evening of Nov 9, marketing agent Edmund Tie & Co. announced that the tender period has been extended. The new closing date is Nov 30.

Altogether, 80.25% of the owners had agreed to the collective sale at $368 million, which translates into a land rate of $1,509 psf per plot ratio (ppr).
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Collective Sale

News, Resource and information of Collective Sale for Singapore property market by PropertyGuru.com.sg, Singapore’s leading property site.
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EN BLOC SALES

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Collective sale fever: Spotlight on decaying home leases

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Collective sales ‘might not lead to higher home prices’

The spate of collective sales of residential properties will not necessarily translate into higher home prices, National Development Minister Lawrence Wong said yesterday.
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BUYING IN SINGAPORE, PROPERTY NEWS & ANALYSISEn bloc sales for dummies – what happens when a property goes en bloc

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En bloc frenzy: 3 questions you may have about the current hype over collective sales

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En bloc sale – the good, the bad and the ugly

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En bloc sales: how much do private property home owners stand to gain?

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All remaining 7 ex-HUDCs have started en bloc process
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En-Bloc Fever 2017: How Much Longer Will It Go On?

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What’s next after selling en bloc?

Property owners who profit from a collective sale have to consider carefully how to use the windfall

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Average home prices could rise by 17% over 2018-2021

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

Private home prices to rise 10% by end-2018: Morgan Stanley

Following its earlier forecast of prices doubling by 2030, firm now sees en-bloc trend as one contributor
THE recovery in private home prices has started in the third quarter, Morgan Stanley believes. While the Urban Redevelopment Authority (URA) only releases its third-quarter flash estimates in October, analyst Wilson Ng in his latest projections expects Singapore home prices to rise 2 per cent this year, and another 8 per cent in 2018 .
There is also other evidence for an imminent price recovery, for example:

• sharply rising transaction volumes, which suggest a narrowing between buyers’ and sellers’ expectations;
• growth in prices from late June implied by the upward revision in URA’s price index value in Q2; and
• price increases in the resale segment, evidenced by SRX Property’s monthly indices.

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Singapore tops Asean for 2018 property market growth forecasts

Morgan Stanley report expects 8% price increase and close to 50% presales growth here; CDL is its top stock pick
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Report: Average home prices in Singapore could rise by 17% over 2018-2021

The prospects for the Singapore property market are bright, with investment volumes to remain strong and home prices forecast to rise, revealed a 2018 Asia Pacific Property Outlook report released by Colliers International on Wednesday (10 January).
On the back of strong economic growth seen in 2017, property investment sales in the city-state are likely to remain robust this year.
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Home prices are set to soar in 2018

• Sales prices jumped 7 percent annually in November, according to a new report from CoreLogic.
• Low supply and high demand are fueling the gains and neither of those is expected to ease up anytime soon.

The temperature may be frigid across much of the nation, yet home prices are sizzling and sellers are in the hot seat.
Sales prices jumped 7 percent annually in November, according to a new report from CoreLogic.
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Singapore private property prices to rise 10% by end-2018: Report

Singapore property prices are set to jump 10 per cent by the end of next year, according to United States banking giant Morgan Stanley.
The bank’s in-house experts expect private home prices to start rising next month – instead of early next year as it stated in a previous forecast. The forecast does not relate to Housing Board flats.
The significant upswing in prices would reverse a four-year downcycle after a range of cooling measures was introduced to slow the market.
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Private home prices to rise by 3-7% in 2018

According to Analyst Vijay Natarajan from RHB Research, the anticipated price growth is driven by the city-state’s stable job market and robust buying optimism of locals. Another key factor is the en bloc fever that has resulted in sellers, who have received ample cash, needing to buy houses to replaces the ones they sold.
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3 reasons why home prices may rise in 2018

It could start with a surge in sales volume this year.
The residential property market in 2018 is set to see an inflection amidst the improving macroeconomic outlook for Singapore.

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Home prices to rise 8% in 2018: Morgan Stanley

This follows a 12% price decline for the last four years.
Residential prices are projected to rise 8% next year as the property market is on stable enough footing even without the necessary assistance from the government, according to Morgan Stanley.
The residential property market is expected to rally as home prices are to rise a forecasted 2% this year following a 12% price decline in the preceding four years thanks to sustained wage growth.
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Most read real estate articles 2017

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All You Need to Know About BSD & ABSD in Singapore

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

Requirement to Pay BSD

You are required to pay BSD for documents executed for the sale and purchase of property located in Singapore. BSD will be computed on the purchase price as stated in the document to be stamped or market value of the property (whichever is the higher amount)

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Buying or Acquiring Property

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STAMP DUTIES

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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 is Buyer Stamp Duty and Additional Buyer Stamp Duty (ABSD)?

Stamp duty is a tax on documents relating to the purchase or lease of a property. It is to be paid by the buyer within 14 days after the date of the document (e.g. Sale & Purchase Agreement, Tenancy Agreement) if the document is signed in Singapore. If the document is signed overseas, it has to be paid within 30 days after the date of its receipt in Singapore.
It is an offence to use a document for which Stamp Duty has not been paid on. It is also important to note that only a document where Stamp Duty is paid can be admitted as evidence in the court in cases of disagreements. More details can be found here: IRAS: What is Stamp Duty?
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BUYER’S STAMP DUTY IN SINGAPORE: ALL YOU NEED TO KNOW ABOUT IT

Frequently Asked Questions on ABSD

1. If I buy a residential property with someone who already owns another residential property, how much ABSD do I have to pay?

In the event that a property is jointly acquired, the profile with the highest ABSD rate will be applied.

1. Can I buy a residential property under a company or trust?

Yes you can, the ABSD rate of a non-individual will apply.

1. I purchased a property that is under construction and a title deed has not been issued yet. If I purchase another property, do I have to pay ABSD?

A property is considered in the count of properties if a contract or agreement to purchase the property has been signed. This includes if the property has not been legally transferred, as well as an uncompleted unit purchased from developer under a Sale & Purchase Agreement. Read our article on the other mathematical considerations in buying property.

1. I own half shares in 2 properties. Am I considered as owning 1 property if I want to buy the next?

A property is considered in the count of properties if an owner owns any share of interest in a property, be it a partial share or in full.

1. I own a property on behalf of someone else. Do I have to pay ABSD if I want to buy another property?

If a property is held in trust for a beneficial owner, the property is considered as a count for he/she.

1. If I buy 2 properties at the same time, do I have to pay ABSD?

If more than 1 property is bought together under a single contract, each property will be counted separately. Additionally, the buyer can choose the property to be subjected to ABSD.

1. A property was passed down to me in a will. Does that count as 1 property if I want to buy the next?

Any property acquired or transferred by gift, release, settlement, declaration trust letter of authority and exchange are each considered as a count of property.

1. I own a HDB commercial shophouse with living quarters upstairs. Does it count?

A property is considered in the count of properties if a HDB shophouse or shop with living quarters is permitted for residential use.

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Beating the Additional Buyer’s Stamp Duty

De-coupling and Part-purchase

One method for a couple to avoid paying ABSD on a second residential property purchase is to do what is known as a de-coupling and part-purchase of the ownership of the first property. This essentially involves removing one spouse from the ownership of the first property. That way, he or she can buy a new property without paying ABSD for what is a second property owned by the couple. What does this entail?
As most married couples purchase their matrimonial home as joint tenants, de-coupling results in Spouse A becoming the sole owner of the existing property and Spouse B purchasing a new property. This would require the following steps:
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Buy new launch or resale property. Make the right decision and know what is your need.

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New launch vs resale condo – Things to consider before buying

Photo: Park Place Residences
Buying a condo? That’s got to be one of the biggest decisions of your life.
How do you make up your mind? Here are the 6 things you need to consider while purchasing one:

1. Price Negotiation

Markets are dynamic, the economic environment challenging, so the prices you are being quoted are up for negotiations. Here’s how they are likely to play out though:

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Still making up your mind? Then here’s some more reasons in favour of new launch condos.

• Budget wise: New sale condos can be bought at the developer’s price, cutting out the agent’s commission in the process. This saves you a lot of money since the developer foots the agent’s bill.
• Facilities: New condos have better and more facilities to offer as compared to resale properties. Also, the common areas tend to be a little worn out and dated when it comes to resale ones.

Lastly, if you are not willing to play the waiting game and want to have a home right away, then pick a resale condo as a new property brings with it the uncertainties of timelines and project delays.
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Why you should consider buying completed resale condos

It was indeed a sharp tale of contrasts for private residential properties completed between 2014 and 2015, compared to when they were first launched in 2010-2012. In the latter, there were intense en masse property aspirations, especially for buying private residential properties in suburban areas. These buyers were generally those looking to upgrade, hopeful of garnering a high rental income or good resale interest after the completion of these projects. As such, many new projects during this period saw brisk sales activity.
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Investors Dilemma – Buy New Launch Condominiums Or Resale Property

With multiple rounds of policies meant to curb property prices growing like bamboo, the market is still going strong. Add that to inflation consistently hitting levels that overwhelm interest on savings, it is no wonder even the average resident in Singapore is looking at making his money work harder by putting it into properties. The performance of real estate since 2009 can after all be likened to an express elevator that goes straight up to the 88th floor.
Many investors feel that the question now is not whether you should be investing in properties. But whether to buy an under construction condominium or buy a completed resale property for investment.
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Singapore Condos : Which one should I buy? New Launch, Recently TOP or a Resale Unit?

It’s come to that point in your life where you know the time is right for you to get an investment property to rent out in Singapore.
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Before you buy your new home, here are some good reasons to consider new launch condos:

• Expected Capital Assurance –
• Peace of Mind –
• All Things New –
• Progressive Payment
• Buy at direct developer prices
• Don’t have to pay agent buyer’s commission as developer pays for it
• Get to own the most modern and new condominium together with their trendiest facilities
• Decide how you would like to furnish your condominium!
• Enjoy the full leasehold duration (for lease hold properties)
• Be a proud owner of the latest and newest condominium
• Hassle-free as you don’t have to negotiate with seller

New Launch Project or Resale Unit?

Advantages of buying a new launch project

1) The buyer enjoys low installment repayments while the property appreciates in value.

The monthly repayment of new launch projects is low, due to the progressive payment schedule. As such, during the construction phase, the monthly installment is low. At the same time, the market price of the property is increasing. This results in a very good return on investment (ROI).
The monthly repayment for resale units is the full installment, which lowers the ROI of the investment.

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A new launch or T.O.P.

Aside from being able to physically check the unit and facilities before purchasing the property, TOP projects, which are also known as newly-completed properties, offer a slew of benefits such as allowing investors to get immediate rental income, while homeowners who are in a rush to get a new home can move in almost immediately.
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T.O.P. choices

Are you considering a TOP purchase? Here are some developments to take note of.
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T.O.P. projects to look out for in 2017

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T.O.P. tips to ease your moving day

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