Wind30 Turbocharged July 17, 2019 Share July 17, 2019 Lots of bad news in economy huh. Let’s hope the interest rates start falling, else.... ↡ Advertisement Link to post Share on other sites More sharing options...
Ash2017 Twincharged July 17, 2019 Share July 17, 2019 30 years later ...... will there be any chewren around?? I mean really âlocal indigenousâ true blue singaporeans -3 rd or 4th/5th Gen kiddos ??........ we might be last of the MohicansOrder less cai png may increase chance 5 Link to post Share on other sites More sharing options...
Wt_know Supersonic July 17, 2019 Share July 17, 2019 interest fall further means more cheap money to whack property? Lots of bad news in economy huh. Let’s hope the interest rates start falling, else.... Link to post Share on other sites More sharing options...
Invigorated Supercharged July 17, 2019 Share July 17, 2019 wah.... hindsight 20/20 there was a time when people said that singapore won’t make it... but we did there was a time when troubles seemed too much for us to take... but we did what if you bought the land during those times but we didn’t make it? then today you won’t even be wondering 1 Link to post Share on other sites More sharing options...
Showster Twincharged July 17, 2019 Share July 17, 2019 Lots of bad news in economy huh. Letâs hope the interest rates start falling, else....The bank interest rates already started falling over last few months, even fixed 3 years currently can find within 1.9% to 2.2% easily. The highest they seemed to threaten was as predicted near OA rates at 2.6%. Link to post Share on other sites More sharing options...
Wind30 Turbocharged July 17, 2019 Share July 17, 2019 The bank interest rates already started falling over last few months, even fixed 3 years currently can find within 1.9% to 2.2% easily. The highest they seemed to threaten was as predicted near OA rates at 2.6%. Sibor never fall much leh Link to post Share on other sites More sharing options...
Showster Twincharged July 17, 2019 Share July 17, 2019 (edited) Sibor never fall much lehSibor rates mah. It will track US Fed interest rate closely with a bit of lag. Once Fed rates drop, it will follow. Fixed rates are really around those levels mentioned. Edited July 17, 2019 by Showster Link to post Share on other sites More sharing options...
Wind30 Turbocharged July 17, 2019 Share July 17, 2019 (edited) I don't own a condo. But my take is a development without a gym = Apartment. It's not a "condominium" Granted most condos don't even have tennis court nowadays due to limited area, but that one is still a luxury of space. Even some apartments will have pool. Legally I think to be condo, it’s not about gym, more like where you can built up to. A lot of developments in city are apartment because they want to maximise the space. Some apartments have Swimming pool gym plus tennis court. Edited July 17, 2019 by Wind30 Link to post Share on other sites More sharing options...
Lala81 Hypersonic July 17, 2019 Share July 17, 2019 Sorry. I'm still in the process of googling this question, bit hard to find the answer. If u have an outstanding bank loan on your property, and u are upgrading (sell and buy in short sequence). Do you have to pay lawyer's fee for mortgage redemption if you are selling vs just outright redemption (pay up on your own)? Just wondering whether i should redeem the loan early since i have available cash ... Legally I think to be condo, it’s not about gym, more like where you can built up to. A lot of developments in city are apartment because they want to maximise the space.Some apartments have Swimming pool gym plus tennis court. yes. saw the above answer by weezersg. Link to post Share on other sites More sharing options...
Mkl22 Supersonic July 17, 2019 Share July 17, 2019 Sorry. I'm still in the process of googling this question, bit hard to find the answer. If u have an outstanding bank loan on your property, and u are upgrading (sell and buy in short sequence). Do you have to pay lawyer's fee for mortgage redemption if you are selling vs just outright redemption (pay up on your own)? Just wondering whether i should redeem the loan early since i have available cash ... yes. saw the above answer by weezersg. Nope. Just call the bank and how much to pay and just pay. 1 Link to post Share on other sites More sharing options...
Acemundo Supercharged July 17, 2019 Share July 17, 2019 The classification between condo and apartment is set by URA. The main criteria is The condominium is one of the most common type of private estate in Singapore. ... While the definition of a condominium is pretty similar to what an apartment estate consists of, the key difference lies in the total land area of a condominium development which needs to be at least 4,000 square metres or larger.Sep 14, 2015 Another important difference is They have different setback requirement from boundaries for a given height. Apartment is less. Condo requires more setback. Basically setback is how close another development can be build right next to you. Condo has a bigger buffer. I found out about all these as the condo I bought recently ....arhmm should be apartment I bought recently got me curious as it is classify as apartment despite having full range of facilities and it is fairly large development of slightly over 500 units with 2 towers over 20 storeys. So an apartment development doesnt mean it has less or no facilities or the gym or pool is tiny. For all purpose it is a technicality and when caveat is lodged it will reflect as "apartment" , to most people they will still think of it as condo. However it is good to know, coz if there is an empty plot of land next to you, it may very mean they can build very close to you. you are making very good sense......especially with the set back criteria. i had saw a bigger condo being classified as apartment compared to another one classified as condo. the key difference between this 2 i can now see, is the set back criteria. Link to post Share on other sites More sharing options...
Lala81 Hypersonic July 17, 2019 Share July 17, 2019 Nope. Just call the bank and how much to pay and just pay. Bank told me need to redeem loan, then later need to pay lawyer's fee when i checked for loan redemption without sale. So just wondering if i'm selling at the same time at the point of redemption, does it make a difference... Link to post Share on other sites More sharing options...
Wind30 Turbocharged July 17, 2019 Share July 17, 2019 (edited) Bank told me need to redeem loan, then later need to pay lawyer's fee when i checked for loan redemption without sale. So just wondering if i'm selling at the same time at the point of redemption, does it make a difference... I think depends on the lawyer. If you are selling, you have to get a lawyer anyway. I am not sure if there is a discount for the lawyer fee if your place has zero loan (ie fully redeemed) How much is the interest on your housing loan anyway? Even CPF OA gives more interest... Edited July 17, 2019 by Wind30 Link to post Share on other sites More sharing options...
Lala81 Hypersonic July 17, 2019 Share July 17, 2019 (edited) I think depends on the lawyer. If you are selling, you have to get a lawyer anyway. I am not sure if there is a discount for the lawyer fee if your place has zero loan (ie fully redeemed) How much is the interest on your housing loan anyway? Even CPF OA gives more interest... 3.0+% currently, pegged to 3mo sibor. Bank loans for HDB were quite lousy at the time i signed up cos hardly anyone used them when i first signed up on buying the flat (and i was completely clueless back then and didn't even understand how did interest for 1mo sibor compute). Had one free refinance already. Just 160k left ... so wonder if i should just pay it off Edited July 17, 2019 by Lala81 Link to post Share on other sites More sharing options...
Lala81 Hypersonic July 17, 2019 Share July 17, 2019 If interest rate is above 2.5%, just pay off using CPF. hmm also a possibility. Never really thought about using CPF. But doesn't really matter i guess, cos if i buy something, it will just be upgrading. So 2nd property withdrawal limits don't really matter. Link to post Share on other sites More sharing options...
blueunicorn 1st Gear July 17, 2019 Share July 17, 2019 After expanding 3.7% in 2017, Singapore’s economic growth tapered to 3.1% in 2018 and the International Monetary Fund (IMF) has projected that it will slow to 2% in 2019. Growth had already decelerated to 1.1% in 1Q2019 and 0.1% in 2Q2019. “Over the medium term, growth should stabilize around 2½ percent, increasingly driven by modern services alongside other trade-related sectors,” says IMF in a release on July 15, following the conclusion of its Article IV consultation with Singapore. “Risks to the outlook are tilted to the downside and mainly stem from external sources, including a tightening of global financial conditions, escalation of sustained trade tensions, and deceleration of global growth.” Read more here: https://www.edgeprop.sg/property-news/imf-recommends-adjustment-property-cooling-measures-eliminating-absd-eventually NOTE: Other external links removed by MCF Moderator Team. 4 Link to post Share on other sites More sharing options...
boonhat_91 6th Gear July 17, 2019 Share July 17, 2019 https://www.todayonline.com/singapore/not-your-typical-neighbourly-dispute-billionaires-unsanctioned-garden-eye-catching-houses *insert 'Welcome to Singapore" meme, even billionaire cannot have nice things 1 Link to post Share on other sites More sharing options...
Enye Hypersonic July 17, 2019 Share July 17, 2019 (edited) Yes it's also true that past performance is not representative of future performance. one can also ignore the messages the government is sending out the last couple of years e.g. prices have stabilised, population 2030, prices tagged to income GROWTH etc. Hindsight is 20/20 but foresight is the key when one is buying in. I am not saying that prices wouldn't fall. They prob will sometime in the short run and kudos to those that can buy at the lowest. But many are looking at the longer horizon. looking back ~30 years, there were 3 years which gdp growth were negative with annual average gdp growth about 6% looking at forecast for the next ~30 years from consultant report, it would be smooth sailing with annual average gdp growth at meagre ~2.3% as singapore economy matures further. but thats the nature of forecasts not to include crashes of course i think it would be prudent to assume there would be at least 1 crash if taking up 30-year property loans, if not more. just make sure got enough holding power to withstand such events the people with great foresight will be those who wait for any of those 3 years of course and not ignore market cycles unless buying their first matrimonial home to move on with their lives. Edited July 17, 2019 by Enye ↡ Advertisement 5 Link to post Share on other sites More sharing options...
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