Mercs: property news & updates

[Mercs]

https://www.99.co/singapore/insider/top-5-nov-2022-condo-sales-capital-gains-ccr-rcr-ocr-holding/

November’s top 10 condo sales in CCR, RCR and OCR with highest capital gains split by holding periods

 

https://www.edgeprop.sg/property-news/freehold-condos-below-1100-psf

Freehold condos below $1,100 psf

 

 

[Mercs]

 

 

https://www.channelnewsasia.com/singapore/bto-flats-hdb-affordable-prices-development-costs-3127281

Are BTO flats affordable? HDB explains approach to pricing, development costs

https://www.channelnewsasia.com/commentary/hdb-bto-pricing-million-dollar-flats-development-costs-housing-property-3128136

Snap Insight: Not fair to compare prices of HDB flats today with those built decades ago

 

https://www.edgeprop.sg/property-news/bto-flats-priced-ensure-affordability-not-profit-driven-hdb

BTO flats priced to ensure affordability; not profit-driven: HDB

https://www.businesstimes.com.sg/property/hdb-gives-bto-cost-breakdown-says-pricing-not-linked-development-cost

HDB gives BTO cost breakdown; says pricing not linked to development cost

 

https://sbr.com.sg/residential-property/news/what-expect-in-hdb-market-next-year

What to expect in the HDB market next year

https://sbr.com.sg/residential-property/news/new-homes-market-sales-may-reach-10000-units-in-2023

New homes market sales may reach up to 10,000 units in 2023

 

https://www.99.co/singapore/insider/records-lake-vista-jurong-west-choa-chu-kang/

December 2022 records: 5-room DBSS in Jurong West sold for S$858k, 2-room HDB in Choa Chu Kang sold for S$318k

 

https://sbr.com.sg/economy/news/singapore-worlds-eighth-most-expensive-city-expats-study

Singapore is world’s eighth most expensive city for expats: study

(A significant increase in rental costs propelled the Lion City’s overall cost-of-living up)

 

 

[13177]

8 hours ago, Mercs said:

 

 

https://www.channelnewsasia.com/singapore/bto-flats-hdb-affordable-prices-development-costs-3127281

Are BTO flats affordable? HDB explains approach to pricing, development costs

https://www.channelnewsasia.com/commentary/hdb-bto-pricing-million-dollar-flats-development-costs-housing-property-3128136

Snap Insight: Not fair to compare prices of HDB flats today with those built decades ago

 

https://www.edgeprop.sg/property-news/bto-flats-priced-ensure-affordability-not-profit-driven-hdb

BTO flats priced to ensure affordability; not profit-driven: HDB

https://www.businesstimes.com.sg/property/hdb-gives-bto-cost-breakdown-says-pricing-not-linked-development-cost

HDB gives BTO cost breakdown; says pricing not linked to development cost

 

https://sbr.com.sg/residential-property/news/what-expect-in-hdb-market-next-year

What to expect in the HDB market next year

https://sbr.com.sg/residential-property/news/new-homes-market-sales-may-reach-10000-units-in-2023

New homes market sales may reach up to 10,000 units in 2023

 

https://www.99.co/singapore/insider/records-lake-vista-jurong-west-choa-chu-kang/

December 2022 records: 5-room DBSS in Jurong West sold for S$858k, 2-room HDB in Choa Chu Kang sold for S$318k

 

https://sbr.com.sg/economy/news/singapore-worlds-eighth-most-expensive-city-expats-study

Singapore is world’s eighth most expensive city for expats: study

(A significant increase in rental costs propelled the Lion City’s overall cost-of-living up)

 

 

The 5-room DBSS in Jurong West can sold for S$858k??? Like the article mentioned, this cluster is far from MRT and out of nowhere. I assume going in and out of the house is quite inconvenience, need to take bus to MRT and think the bus will take you to half of Taman Jurong estate before reaching MRT. Maybe the buyer has car de, for this cluster, if have car then really quite convenience, since the entrance and exit to the AYE is very near from the blk.

[Mercs]

4 hours ago, 13177 said:

The 5-room DBSS in Jurong West can sold for S$858k??? Like the article mentioned, this cluster is far from MRT and out of nowhere. I assume going in and out of the house is quite inconvenience, need to take bus to MRT and think the bus will take you to half of Taman Jurong estate before reaching MRT. Maybe the buyer has car de, for this cluster, if have car then really quite convenience, since the entrance and exit to the AYE is very near from the blk.

'Today' sell RECORD price 858K ... '2moro' sell no 1mil no talk 🤣  HDB prices already 'UP UP and away!' for near 2.5 years and on 😉

 

https://www.srx.com.sg/research/64351/hdb-resale-prices-climb-for-the-29th-straight-month-increasing-by-06-in-november-2022

HDB Resale Prices Climb for the 29th Straight Month, Increasing by 0.6% in November 2022

 

 

[F10_Blackhawk]

@Stratovarius 

On 12/5/2022 at 4:53 PM, Stratovarius said:

 

Oh. i din know that. Coz the buyer of my flat no agent also. So my agent told them to prepare the documents he need. Rest of the documents he prepare and give us and the seller to sign and arrange for appt with HDB to hand over keys. He did take 2% of the sale price though. All through my profit. I've asked him and he said if the buyer has agent, he needs to share the commission with them. 

For my EC, i did not pay any commission to the seller agent. So i assume what he mentioned to me is true. 

Not sure why your agent told you this lie….for HDB, the seller agent does not need to share his comm at all even if the buyer engage an agent.  In fact, sometimes, the seller agent will ask the direct buyer if he could intro an agent to the direct buyer, usually could be his/her partner or friend on the pretext the agent can help the buyer prepare the paper work etc but the buyer has to pay 1% to this agent.  

Some seller agent I know prefer this because dealing with direct buyer can be stressful as the buyer while trying to save 1%, tries to DIY but might miss out on some important documents or timeline and results in delay or even scupper the whole deal….so end up the seller agent has to also help the buyer side of the transactions because if leave it to the buyer to DIY, it might cause problems.

As you can see….fact is, agency work is not simple at all.  For me…I always just engage an agent and pay someone to do the work for me.  They are always more familiar with the latest regulations, lobang, work-around etc that it usually pays.  And stick with 1 or 2 trusted guys….my agent has been with me for the last 20 years already….

[13177]

29 minutes ago, F10_Blackhawk said:

@Stratovarius 

Not sure why your agent told you this lie….for HDB, the seller agent does not need to share his comm at all even if the buyer engage an agent.  In fact, sometimes, the seller agent will ask the direct buyer if he could intro an agent to the direct buyer, usually could be his/her partner or friend on the pretext the agent can help the buyer prepare the paper work etc but the buyer has to pay 1% to this agent.  

Some seller agent I know prefer this because dealing with direct buyer can be stressful as the buyer while trying to save 1%, tries to DIY but might miss out on some important documents or timeline and results in delay or even scupper the whole deal….so end up the seller agent has to also help the buyer side of the transactions because if leave it to the buyer to DIY, it might cause problems.

As you can see….fact is, agency work is not simple at all.  For me…I always just engage an agent and pay someone to do the work for me.  They are always more familiar with the latest regulations, lobang, work-around etc that it usually pays.  And stick with 1 or 2 trusted guys….my agent has been with me for the last 20 years already….

Good for you, able to find a good agent. I find not easy to find a good agent, whether it is for selling or buying. Many agents only want to close the deal fast without giving good advice to their client. This is why some people would rather DIY themselves, cause got agent like no agent like that, and still need to pay commission to them.

[Stratovarius]

1 hour ago, F10_Blackhawk said:

@Stratovarius 

Not sure why your agent told you this lie….for HDB, the seller agent does not need to share his comm at all even if the buyer engage an agent.  In fact, sometimes, the seller agent will ask the direct buyer if he could intro an agent to the direct buyer, usually could be his/her partner or friend on the pretext the agent can help the buyer prepare the paper work etc but the buyer has to pay 1% to this agent.  

Some seller agent I know prefer this because dealing with direct buyer can be stressful as the buyer while trying to save 1%, tries to DIY but might miss out on some important documents or timeline and results in delay or even scupper the whole deal….so end up the seller agent has to also help the buyer side of the transactions because if leave it to the buyer to DIY, it might cause problems.

As you can see….fact is, agency work is not simple at all.  For me…I always just engage an agent and pay someone to do the work for me.  They are always more familiar with the latest regulations, lobang, work-around etc that it usually pays.  And stick with 1 or 2 trusted guys….my agent has been with me for the last 20 years already….

I wouldn't say he lie. Might be more of miscommunication as he might referring to private as that is what we were looking for.

The buyer for my house did all the HLE upfront and the transaction was very smooth. But again, this is for hdb where all the documents needed are found online and we were not looking at any specific date to hand over the keys, etc.

[Mercs]

As mentioned - record after record = 'Ex 2day cheap 2moro'

https://www.99.co/singapore/insider/toh-yi-drive-s1-291m-executive-maisonette-hdb-singapore-bukit-timah/

Most expensive HDB executive flat in Singapore: Bukit Timah’s Toh Yi Drive maisonette sold for S$1.291m

"This has made it not just the most expensive HDB resale flat in Bukit Timah, but the most expensive executive HDB flat in Singapore."

 

 

https://www.edgeprop.sg/property-news/orchard-river-valley-condo-rents-15000-month-three-bedder-highest-among-all-districts-savills

Orchard, River Valley condo rents at $15,000 per month for a three-bedder, highest among all districts

https://www.edgeprop.sg/property-news/four-bedder-peak-rakes-36-mil-profit

Four-bedder at The Peak rakes in $3.6 mil profit

https://www.edgeprop.sg/property-news/tresor-hits-new-high-2474-psf

The Tresor hits new high of $2,474 psf

https://www.edgeprop.sg/property-news/residential-transactions-contracts-dated-nov-22-nov-29-done-deals

Residential transactions with contracts dated Nov 22 to Nov 29 [DONE DEALS]

 

https://www.edgeprop.sg/property-news/white-site-jurong-be-sold-master-developer

White site in Jurong to be sold to a master developer

https://www.edgeprop.sg/property-news/four-new-sites-released-reserve-list-1h2023

Four new sites released on the Reserve List of 1H2023

https://www.edgeprop.sg/property-news/government-releases-largest-number-residential-units-1h2014

Government releases largest number of residential units since 1H2014

 

 

[13177]

8 hours ago, Mercs said:

As mentioned - record after record = 'Ex 2day cheap 2moro'

https://www.99.co/singapore/insider/toh-yi-drive-s1-291m-executive-maisonette-hdb-singapore-bukit-timah/

Most expensive HDB executive flat in Singapore: Bukit Timah’s Toh Yi Drive maisonette sold for S$1.291m

"This has made it not just the most expensive HDB resale flat in Bukit Timah, but the most expensive executive HDB flat in Singapore."

 

 

https://www.edgeprop.sg/property-news/orchard-river-valley-condo-rents-15000-month-three-bedder-highest-among-all-districts-savills

Orchard, River Valley condo rents at $15,000 per month for a three-bedder, highest among all districts

https://www.edgeprop.sg/property-news/four-bedder-peak-rakes-36-mil-profit

Four-bedder at The Peak rakes in $3.6 mil profit

https://www.edgeprop.sg/property-news/tresor-hits-new-high-2474-psf

The Tresor hits new high of $2,474 psf

https://www.edgeprop.sg/property-news/residential-transactions-contracts-dated-nov-22-nov-29-done-deals

Residential transactions with contracts dated Nov 22 to Nov 29 [DONE DEALS]

 

https://www.edgeprop.sg/property-news/white-site-jurong-be-sold-master-developer

White site in Jurong to be sold to a master developer

https://www.edgeprop.sg/property-news/four-new-sites-released-reserve-list-1h2023

Four new sites released on the Reserve List of 1H2023

https://www.edgeprop.sg/property-news/government-releases-largest-number-residential-units-1h2014

Government releases largest number of residential units since 1H2014

 

 

I always think if HDB can sell for S$1.291m, how much should private selling? So if a 2-3 bedder condo selling around $1m to $1.5m, is this consider very cheap? This is really getting crazy on the selling price for HDB now. No one really can predict HDB one day can sell past $1m. Lol. This type of price only private can find. But what we see the current resale price for HDB really prove us wrong.

[Mercs]

13 hours ago, 13177 said:

I always think if HDB can sell for S$1.291m, how much should private selling? So if a 2-3 bedder condo selling around $1m to $1.5m, is this consider very cheap? This is really getting crazy on the selling price for HDB now. No one really can predict HDB one day can sell past $1m. Lol. This type of price only private can find. But what we see the current resale price for HDB really prove us wrong.

The unit sold already 1/3 third lease gone (balance 64years), on a low floor (3 and below), also sold record price= seller HUAT.

As mentioned prior - Demand Supply, if nothing done NOW (increase ready supply) to ease the immediate demand = property prices HDB/PTE/Rents to continue uptrend next few years. CMs won't work eg: 15 months liang teh is just kicking the can down the road, demand still there waiting to pounce. 🤣

Be ready to see even more new record highs very near future. 😉

 

[13177]

8 hours ago, Mercs said:

The unit sold already 1/3 third lease gone (balance 64years), on a low floor (3 and below), also sold record price= seller HUAT.

As mentioned prior - Demand Supply, if nothing done NOW (increase ready supply) to ease the immediate demand = property prices HDB/PTE/Rents to continue uptrend next few years. CMs won't work eg: 15 months liang teh is just kicking the can down the road, demand still there waiting to pounce. 🤣

Be ready to see even more new record highs very near future. 😉

 

As usual nothing much will be done to the current situation. They will tell you, wiling buyer willing seller, also demand is there now. So no one can be blame for the crazy property prices for resale now.

[Mercs]

14 hours ago, 13177 said:

As usual nothing much will be done to the current situation. They will tell you, wiling buyer willing seller, also demand is there now. So no one can be blame for the crazy property prices for resale now.

Yes, no doubt property prices are crazy high now, buyers still have the option on what/where to buy. 

I still offer the same opinion, no choice gotta buy pay high price go for those with long lease balance, especially those paying above 1mil. 😉

 

 

[Mercs]

On 12/11/2022 at 12:45 AM, Mercs said:

As mentioned prior - Demand Supply, if nothing done NOW (increase ready supply) to ease the immediate demand = property prices HDB/PTE/Rents to continue uptrend next few years. CMs won't work eg: 15 months liang teh is just kicking the can down the road, demand still there waiting to pounce. 🤣

Be ready to see even more new record highs very near future. 😉

 

 

https://www.businesstimes.com.sg/property/unsold-private-housing-stock-hits-15-year-low-likely-help-support-prices-2023

Unsold private housing stock hits 15-year low, likely to help support prices in 2023

(Inventory expected to stay low in coming year; strong demand, high land and building costs will also keep prices elevated)

 

"THE stock of unsold private housing under construction has been dropping for nine straight quarters to a 15-year low, and is not expected to increase in the new year.

Based on data that was compiled, the stock of unsold private housing units has been on the decline from Q2 2020 to Q3 2022 – or a total of two years and three months – to reach 5,320 units.

This represents the longest period of consecutive quarters of declining stock since such data was made available by the Urban Redevelopment Authority."

[Mercs]

On 11/29/2022 at 9:01 PM, Mercs said:

If worry lease decay faster sell when lease going low, become the new buyer problem 🤣

 

https://www.asiaone.com/lifestyle/we-moved-landed-hdb-regular-flat-heres-what-we-miss-about-living-hdb-terrace?utm_source=a1home&utm_medium=referral&utm_campaign=A1+trending&utm_content=c1

We moved from a landed HDB to a regular flat - here's what we miss about living in an HDB terrace

 

HDB landed homes were big on the news last year, where there were several units that were sold at a price of over $1 million. This has led to a lot of speculation, such as whether this might be smarter than upgrading to a condo or an actual landed home.

This week, however, we spoke to someone who actually has lived in an HDB landed home, and recently moved into a flat for the interim before their new place is ready.

M and her family used to live in Jalan Bahagia in Whampoa, one of the rare areas where you can still find HDB landed homes.

This is roughly the same location where last year, an HDB terrace house sold for $1.286 million. There are only two areas that offer such homes, with an estimated 200 units at Jalan Bahagia, and 84 units along Stirling Road.

 

https://www.asiaone.com/money/rare-hdb-terrace-flat-whampoa-sold-record-1268m

"The unit's 99-year lease started in 1972 and had 50 years and one month balance when it was sold. "

 

Here's what they have to say:

M says there's only one reason they sold their HDB terrace house, and that's lease decay.

"We just tried our luck to sell after our five-year MOP, as we knew the HDB terrace had very limited interest. Had we not been successful, we would happily continue living there because it's the best!

"To put it bluntly, a lot of owners in that estate are of a certain pay scale and would have easily afforded a condo, but they chose HDB landed living.

"It's a very subtle, different vibe that I can't truly explain, but I feel it now that I move back to a regular HDB flat. 

"The majority of my previous neighbours own continental cars and quite a number even have second or third properties and businesses. The vibe is almost like 'atas kampung' — people who have nothing to prove. They just like this quirky HDB living style.

"In our regular HDB flat, there is this rushed, hustle culture."

 

Given a choice, however, M would have stayed on 

M says that: 

"We're observing to see how the lease decay pans out over the next few decades. If it reaches a point where I just 'throw' $200,000 cash to pay off the house and live out my silver years, why not? I loved the house. I would not have given up landed living if not for lease decay." 

So there is some chance she may revisit it in future. M may not be alone in this regard: if the prices of HDB landed homes ever fall to the price of a typical flat (e.g., $500,000 or less), there may well be buyers who decide it's worth it in their twilight years. 

 

 

 

 

Edited December 12, 2022 by Mercs

[13177]

19 minutes ago, Mercs said:

 

https://www.asiaone.com/lifestyle/we-moved-landed-hdb-regular-flat-heres-what-we-miss-about-living-hdb-terrace?utm_source=a1home&utm_medium=referral&utm_campaign=A1+trending&utm_content=c1

We moved from a landed HDB to a regular flat - here's what we miss about living in an HDB terrace

 

HDB landed homes were big on the news last year, where there were several units that were sold at a price of over $1 million. This has led to a lot of speculation, such as whether this might be smarter than upgrading to a condo or an actual landed home.

This week, however, we spoke to someone who actually has lived in an HDB landed home, and recently moved into a flat for the interim before their new place is ready.

M and her family used to live in Jalan Bahagia in Whampoa, one of the rare areas where you can still find HDB landed homes.

This is roughly the same location where last year, an HDB terrace house sold for $1.286 million. There are only two areas that offer such homes, with an estimated 200 units at Jalan Bahagia, and 84 units along Stirling Road.

 

https://www.asiaone.com/money/rare-hdb-terrace-flat-whampoa-sold-record-1268m

"The unit's 99-year lease started in 1972 and had 50 years and one month balance when it was sold. "

 

Here's what they have to say:

M says there's only one reason they sold their HDB terrace house, and that's lease decay.

"We just tried our luck to sell after our five-year MOP, as we knew the HDB terrace had very limited interest. Had we not been successful, we would happily continue living there because it's the best!

"To put it bluntly, a lot of owners in that estate are of a certain pay scale and would have easily afforded a condo, but they chose HDB landed living.

"It's a very subtle, different vibe that I can't truly explain, but I feel it now that I move back to a regular HDB flat. 

"The majority of my previous neighbours own continental cars and quite a number even have second or third properties and businesses. The vibe is almost like 'atas kampung' — people who have nothing to prove. They just like this quirky HDB living style.

"In our regular HDB flat, there is this rushed, hustle culture."

 

Given a choice, however, M would have stayed on 

M says that: 

"We're observing to see how the lease decay pans out over the next few decades. If it reaches a point where I just 'throw' $200,000 cash to pay off the house and live out my silver years, why not? I loved the house. I would not have given up landed living if not for lease decay." 

So there is some chance she may revisit it in future. M may not be alone in this regard: if the prices of HDB landed homes ever fall to the price of a typical flat (e.g., $500,000 or less), there may well be buyers who decide it's worth it in their twilight years. 

Jalan Bahagia quite an inconvenience location, no advisable to stay there la. If want to stay in HDB landed, get Stirling Road better la. 

[Mercs]

12 hours ago, 13177 said:

Jalan Bahagia quite an inconvenience location, no advisable to stay there la. If want to stay in HDB landed, get Stirling Road better la. 

Stirling side even more rare, only 84 total and even shorter lease (from 1968)

Got one for sale balance lease 45yrs for $760K ... kym? 🤣

 

https://www.propertyguru.com.sg/listing/hdb-for-sale-52-stirling-road-23925803

[Mercs]

https://www.theonlinecitizen.com/2022/12/12/s750-rental-price-for-coffin-size-room-in-yishun-landlord-claims-it-has-superior-environment/

S$750 rental price for Coffin-size room in Yishun, landlord claims it has “superior environment”

 

 

[Mercs]

https://www.channelnewsasia.com/singapore/drastically-lowering-bto-hdb-prices-land-costs-hurting-singaporeans-sim-ann-3137456

Drastically lowering BTO prices by disregarding land costs will only end up hurting all Singaporeans: Sim Ann

 

 

 

https://www.channelnewsasia.com/commentary/hdb-resale-bto-condo-price-loan-interest-affordable-invest-3134191

Commentary: This bullish property market will not last forever

 

https://stackedhomes.com/editorial/will-property-prices-remain-high-in-2023-heres-why-a-property-undersupply-may-prop-up-demand-despite-the-economic-uncertainty/