Mercs: property news & updates

[Icedbs]

On 8/7/2020 at 8:01 AM, Mercs said:

 

https://stackedhomes.com/editorial/avoid-absd-legally/

https://www.straitstimes.com/business/invest/so-you-want-to-buy-a-second-property

By just scanning through the above, I would first want to know how much OA CPF is left in both husband and wife account after buying the two properties.

This important fact is not clear from the above. Assuming their OA CPF are wipe out to buy each property, that's not a good situation because if one party suddenly loses his/her job,  it will immediately drain their cash even if one of the property remains rented.

When doing this sell 1 buy 2 strategy, important is really how much OA is left on each account after buying each property?  If it doesn't have at least 1.5 years worth of monthly loan amount, then either budget for a cheaper property or don't do it at all.  

And btw, the above prices are not very realistic. 3 bedroom for 980k?  Either very old or very far somewhere.  1-bedder of 600k can rent out $2.2k?  Only if it is very well renovated.

 

[car50]

 

 

NEW RECORD PRICES IN JUNE (FROM SQUAREFOOT) rcr/ocr

Wow thought supposed to be in pandemic

Park Colonial, looks like future pricing 

 

PARK COLONIAL

NON-LANDED

RCR  2,122 PFS

PARC ESTA

NON-LANDED

RCR 1,958 PFS

THE RAMFORD

LANDED / NON-LANDED

RCR 2,253 PFS

KENT RIDGE HILL RESIDENCES

NON-LANDED

RCR 1,940 PFS

THE FLORENCE RESIDENCES

NON-LANDED

OCR 1,718 PFS

[Old-driver]

19 hours ago, Mercs said:

https://www.squarefoot.com.sg/market-watch/rental-yield

https://stackedhomes.com/editorial/rental-yield-singapore/#gs.ccaxxm

https://www.edgeprop.sg/property-news/singapore’s-high-yield-rental-properties-have-these-3-things-common

https://sg.finance.yahoo.com/news/year-in-review-highestyielding-condominiums-in-singapore-in-2019-062023386.html

https://www.propertyguru.com.sg/property-management-news/2019/5/180108/which-condos-in-singapore-delivered-the-best-rental-growth

https://sg.news.yahoo.com/highest-yielding-condominiums-singapore-2018-020420874.html

 

 

Not forgetting interest rates on a loan.... unless pay full cash

[Mercs]

19 hours ago, Icedbs said:

By just scanning through the above, I would first want to know how much OA CPF is left in both husband and wife account after buying the two properties.

This important fact is not clear from the above. Assuming their OA CPF are wipe out to buy each property, that's not a good situation because if one party suddenly loses his/her job,  it will immediately drain their cash even if one of the property remains rented.

When doing this sell 1 buy 2 strategy, important is really how much OA is left on each account after buying each property?  If it doesn't have at least 1.5 years worth of monthly loan amount, then either budget for a cheaper property or don't do it at all.  

And btw, the above prices are not very realistic. 3 bedroom for 980k?  Either very old or very far somewhere.  1-bedder of 600k can rent out $2.2k?  Only if it is very well renovated.

 

Article was from year 2015 and we all know property prices have already moved on since,  which was in reference to my earlier post about current new launch high sell psf, my personal view is can buy 2 instead of just 1.

Obviously dun matter 2 or even only 1, 'head not so big dun go buy big hat'. Added advantage of having a 2nd property also serves as a buffer, in the event life really hits a snag need to generate $$$ can offload the 2nd/ rental property, family not afffected 'dun put all eggs in 1 basket'. If bought only 1 new launch same scenario, have to sell, downgrade, tell whole family need to move house?

As always 'go resale for better value' that's just me, pay high psf for 1 brand new launch unit, I rather buy 2 resale, as to whether one see value in resale, diff strokes diff folks.

On 8/6/2020 at 7:09 PM, Mercs said:

Agree, property market resilient holding up welll, I see those new launch 99lh sell psf prices i feel giddy 😛

As mentioned prior, at such psf can buy TWO near mrt one ownstay one rental instead of just 1, put in 50K each reno to 'brand new' for stay comfort/  higher rental.

As always ... 'go resale for better value' 😉

 

So what can buy for 980k today? Dun even need talk PTE, a decent size 3br new EC also cannot, already hovering around 1.1kpsf range

Here's one example- (3br/1259sqft/ 778psf) not renovated/older design no issue, as mentioned put in some reno to 'brand new' latest design to one's liking.

 

[Mercs]

34 minutes ago, Old-driver said:

Not forgetting interest rates on a loan.... unless pay full cash

Yes, loan interest rates a real burner on yield, but in today's low int rate environment probably not so much. Works the same, if no full cash yield to be against only invested capital which could be even higher.

(take bank loan at lower interest,  keep funds in CPF for higher and as backup funds.)

[PropSG]

https://www.edgeprop.sg/property-news/propnex-‘nobodies’-biggest-realtor-20-years?utm_source=mycarforum&utm_medium=&utm_campaign=forumposting

Canada's Sun Life opens Singapore, looks for acquisitions in Asia

[PropSG]

https://www.theedgesingapore.com/news/company-news/canadas-sun-life-opens-singapore-looks-acquisitions-asia?utm_source=mycarforum&utm_medium=&utm_campaign=forumposting

Canada's Sun Life opens Singapore, looks for acquisitions in Asia

[Flying_genie]

11 hours ago, Mercs said:

Article was from year 2015 and we all know property prices have already moved on since,  which was in reference to my earlier post about current new launch high sell psf, my personal view is can buy 2 instead of just 1.

Obviously dun matter 2 or even only 1, 'head not so big dun go buy big hat'. Added advantage of having a 2nd property also serves as a buffer, in the event life really hits a snag need to generate $$$ can offload the 2nd/ rental property, family not afffected 'dun put all eggs in 1 basket'. If bought only 1 new launch same scenario, have to sell, downgrade, tell whole family need to move house?

As always 'go resale for better value' that's just me, pay high psf for 1 brand new launch unit, I rather buy 2 resale, as to whether one see value in resale, diff strokes diff folks.

 

So what can buy for 980k today? Dun even need talk PTE, a decent size 3br new EC also cannot, already hovering around 1.1kpsf range

Here's one example- (3br/1259sqft/ 778psf) not renovated/older design no issue, as mentioned put in some reno to 'brand new' latest design to one's liking.

 

Changi Rise? It is not called Chennai Rise (and the neighbouring Melville Park as Mumbai Park) for a reason. Just visit after office hours. The amount of feet washing in the swimming pool, social gathering at the common areas will scare you.

MLMLWML.

[Mercs]

11 hours ago, Flying_genie said:

Changi Rise? It is not called Chennai Rise (and the neighbouring Melville Park as Mumbai Park) for a reason. Just visit after office hours. The amount of feet washing in the swimming pool, social gathering at the common areas will scare you.

MLMLWML.

Haha that bad ah? 😛 thanks for sharing.

Anyway that's only one example,  many other resale/ locations to choose from.

[Mercs]

https://stackedhomes.com/editorial/9-questions-with-qingjian-realty/#gs.d1y7q0

https://stackedhomes.com/editorial/7-risk-factors-en-bloc-sale/#gs.d1y81n

 

https://www.99.co/blog/singapore/7-reasons-why-shophouses-are-the-most-underrated-properties-in-sg/

 

https://sbr.com.sg/residential-property/news/chart-day-private-home-sales-in-rcr-dropped-488-in-q2

Private home sales in RCR dropped 48.8% in Q2

 

[Mercs]

https://www.propwise.sg/non-landed-residential-resale-property-transactions-for-the-week-of-july-21-to-july-27/

Non-Landed Residential Resale Property Transactions for the Week of July 21 to July 27

 

https://sg.news.yahoo.com/upcoming-ec-condo-launches-2020-084708216.html

Upcoming EC, Condo Launches In 2020 To Consider If You Are Planning For A New Home

 

https://www.straitstimes.com/singapore/housing/first-batch-of-bto-flats-in-park-district-in-singapores-newest-town-tengah-set-for

First batch of BTO flats in Park district in Singapore's newest town Tengah set for launch

 

Edited August 10, 2020 by Mercs

[car50]

On 8/7/2020 at 7:56 AM, Mercs said:

https://www.edgeprop.sg/property-news/sea-facing-unit-v-shenton-sale-23-mil

Sea-facing unit at V on Shenton for sale at $2.3 mil

bought for 2.2m and selling private treaty 2.3m, does not look like a firesale unless valuation is way much higher

Lots of land infront of the condo, so sea view likely to be blocked in future as CBD buildings are all very tall 

[Mercs]

 

[Mercs]

4 hours ago, car50 said:

bought for 2.2m and selling private treaty 2.3m, does not look like a firesale unless valuation is way much higher

Lots of land infront of the condo, so sea view likely to be blocked in future as CBD buildings are all very tall 

Thanks for sharing.

Agree, as mentioned prior CM trump card ... hardly any firesales.

[Mercs]

On 8/9/2020 at 12:09 AM, Mercs said:

Main attraction the FH status and in today's new launch high sell psf context 1.8k psf can consider 'reasonable'

If near to mrt then easy no above 2k psf no talk already

Hearsay rather well received, today first day launch sold 160+ and counting with more big units sold 😉

 

https://www.edgeprop.sg/property-news/forett-achieves-30-sales-launch-day-‘virtual-balloting’

Forett achieves 30% sales on launch day via ‘virtual balloting’

Qingjian Realty (South Pacific) Group and Perennial Real Estate Holdings announced that they have sold 190 units or 30% of the 633-unit project, 

About 90% of the buyers are said to be Singaporeans and many were owner occupiers. There were several “multiple-unit purchases” too, particularly by parents who bought several units for their grownup children; and family members or siblings who want to live close to each other.

While the two- and three-bedroom units were popular, many of the four- and five-bedroom units were also taken up. “Units sold were quite balanced across all unit types,” 

Average price of units sold was $1,880 psf, “which is attractive” given the freehold tenure of the project and the site area of more than 360,000 sq ft, 

Forett will add an early bounce to the August new home sales numbers, coming on the back of close to 1,000 new units sold in June, and an expected 900 to 1,000 units sold in July. “It shows the resilience of the residential market and will give confidence to other developers with launches in the months ahead,”

[PropSG]

https://www.theedgesingapore.com/node/320252?utm_source=mycarforum&utm_medium=&utm_campaign=forumposting

French insurer Axa SA considers sale of its Singapore business to raise funds

[PropSG]

https://www.edgeprop.sg/property-news/uli-appoints-david-faulkner-new-president-asia-pacific?utm_source=mycarforum&utm_medium=&utm_campaign=forumposting

ULI appoints David Faulkner as new president of Asia Pacific

[Mercs]

https://www.straitstimes.com/business/economy/singapore-lowers-2020-gdp-forecast-to-between-5-and-7-as-economy-plunges-worse-than

Singapore's recession deepens with worst ever quarterly contraction of 13.2%

 

https://www.straitstimes.com/business/economy/singapores-total-merchandise-trade-falls-152-in-q2-decline-in-both-oil-and-non-oil

Singapore non-oil exports now seen growing 3-5% in 2020, with 'worse-case scenario for world trade unlikely'

 

https://www.businesstimes.com.sg/companies-markets/property-developers-have-not-seen-the-worst-yet

Property developers have not seen the worst yet