Sell now or later?

In real estate, it is often a timing game. How do you exactly know when to sell and when to buy? If you’re currently looking to sell your property, what should you be looking at for when making your decision of whether to sell now or later?

Just like buying a home, you first have to figure out why exactly you are selling. Is it to finance a new home upgrade, to invest in another property, or because you need the money urgently? The push factors are often stronger than you think when it comes to how much and how quickly you are willing to sell for.

KingsfordWaterbayAnother important question to ask yourself is “How much is my property worth?” Aside from getting a trustworthy real estate agent and valuator, spending a bit of time doing your own market research will help you determine where your property stands. A quick look at property websites, some of which provide tools to help you keep track of property trends and transacted property prices, or checking out resale HDB flat prices from the HDB website as well as attending property talks and seminars are just a few of the many ways to hone your pricing skills.

Market competition is also an important factor which affects pricing. Have a look at how other properties similar to yours are currently prices for a guide to pricing your property. But that said, if you know what qualities your property has above others in the market, list them. These may help you price above the market median. You do however have to be prepared to justify these premium prices and once you are confident the edge your property has, you will have a relatively easy time asking for higher prices. Location and proximity to transport nodes or schools are often a big plus; and sometimes the configuration of rooms, quality of renovation and age of the property could also be added to your property’s calling cards.

 

Private property sales steady

Private property sales seem to be steady in the past months, though there has been a recent spike in July as a new condominium launch pushed numbers up. Post June-holidays sales could also have made up the rise in number of sales transactions, plus some buyers may be rushing to close deals before the Hungry Ghost Month.

High Park ResidencesThe recent launch of High Park Residences in Fernvale performed exceedingly well in July, with 1,169 units sold. The average selling price stood at $989 psf. Property experts put much of their success to their ability to put the finger accurately on the buyer’s pricing ‘sweet-spot’. Smaller units with more affordable quantum prices seem to be the way to go in the current market. A good 15 per cent of the units went for under $500,000 and a 388 sq ft unit even sold at $373,450.

Situated close enough to the upcoming Seletar regional hub, the popular condominium has 2-bedders sized at 570 to 732 sq ft and 3-bedders at 872 to 990 sq ft. Considering a 2-bedder deluxe unit goes for $650,000, prices are more than affordable for the average middle-upper-class Singaporean. Other properties which have sold well last month include Botanique at Bartley, City Gate and Riverbank@Fernvale.

Moving ahead, property analysts are expecting the new property market to quieten slightly, though activity may pick up in the executive condominium (EC) segment.

 

Investing in Sydney Properties

With the Singapore dollar strengthening against the Australian dollar, and with property prices and demand rising in the Australia, in particular Sydney, now could the the right time to jump onto the bandwagon. Especially as there is something coming up which could very well be worth buying into.
TheInfinitySydney_1Photo credit: Crown Group Holdings


A new residential-cum-hotel project at the corner of Bourke Street and Botany Road, helmed by Crown Group Holdings will yield 75 hotel suites, and 326 luxury apartments ranging from 37 sq m one-bedders to 138 sq m three-bedroom units with prices starting at A$650,000. Considering that is about the price of a four or five-room resale HDB flat in Singapore, the prestigious address with potential of appreciation and rental profits could be well worth its every inch.

Named The Infinity, this spanking new 20-storey project is situated in central Sydney, within the Green Square Urban Renewal Area. Designed by Koichi Takada Architects, it has clinched the Urban Development Institute of Australia New South Wales Concept Design award last year. Aside from the hotel and residential units, it will also feature a 1,180 sq m open-air garden plaza and a myriad of retail outlets and eateries.

TheInfinitySYdney_2Photo credit: Crown Group Holdings

Its prime location near Sydney’s Central Business District and universities, will no doubt raise its market value but quite a few points. To be completed by 2019, it will also be situated near the Green Square train station. Consdiering Sydney’s town planning has brought quite a bit of day and night life to the town centres and CBD, apartments in town have always been popular fodder for investors.

Exact prices of the apartments will be realised on 29 August.

High-end Properties moving more units on Mainland

Luxury residential properties seem to be enjoying a bit of the respite from the sting which property cooling measures have brought to the sector. In prime district 10, Leedon Residence has moved 24 units within the last 6 weeks with a total net worth of $110 million. Developed by GuocoLand, the property received its temporary occupation period (TOP) in June. Their other district-1o property, Goodwood Residences also saw some sales, with only 12 units left unsold. Over at District 1, Marina Bay Suites moved 10 units in Q2 alone.  Both Goodwood Residence and Marina Bay Suites were ready for occupation in June 2013.

Leedon Residence on Holland Road.

Leedon Residence on Holland Road.

Property analysts are according this rise in sales to how ultra-high-net-worth buyers are often more comfortable purchasing physically present products, and not off-plan. Current prices may have reached a stagnant as developers with properties still in construction may not be willing to provide hefty discounts in order to move units as yet, especially those with deeper pockets. They are likely to hold on to their existing units in view of long-term gains.

On Sentosa however, sales were a little slower, with more action in the nearby district 4. Corals at Keppel Bay sold 8 units and Caribbean at Keppel Bay moved 10 units in the second quarter. Considering they come with assets of being close to the Central Business District (CBD) and having a seafront view, the current selling prices of 4 to 5 per cent lower are probably worth every penny.

Resale property prices slide further

The private property market seems to be going the way property analysts have predicted in the beginning of the year. Over the last 6 months, prices of completed private property have fallen 1.9%. The steepest fall was in the beginning of 2014, at 3.7%. Though the decline has continued, the fall has been lighter in the quarters following.

Maysprings condoSince the implementation of the Total Debt Servicing Ratio (TDSR) in June of 2013, property prices have fallen at varying speeds over the past 2 years. A total of 42,606 new homes are expected to be ready for occupation within these couple of years and up to 96 per cent of the land sold this year are expected for future non-landed homes. It may become a tussle for prices and buyers, between new and resale properties.

As rental demand also continues to dip, prospects for the property market seems to have dimmed slightly, though select properties will still hold potential. Property experts have explained that the dip in prices in the resale market may have been due to the ability of individual to be flexible with prices. New properties which are being sold by developers have the means to stick to their guns in terms of pricing. The scale for rental supply and demand is likely to continue leaning towards the former.

Weekend in the East – Pasir Ris

It’s almost the weekend. And when we think weekend, the mind often goes straight to the eastern districts with its breezy, relaxed atmosphere and sunny skies. Besides the popular East Coast and Marine Parade hot spots, there are also lots to see and do in the country’s edge of Pasir Ris.

The PaletteIn Malay, Pasir Ris translates to “White Sand” and this coastal town has long be lauded for its tranquility, almost like a secret tucked away in the quietest part of the island. But not to be mistaken for exclusion from the usual conveniences of city living, it is well-served by trains and buses and has a buzzing town centre and a few malls to boot. Add the revamped Lorong Halus Wetland, Sungei Tampines River and Sungei Api Api, Pasir Ris Park and it’s akin to having our own “The Hamptons” of our own. A countryside in an island city.

Private condominium apartments in this area include Seastrand, NV Residences, Coco Palms and The Palette. One of the latest executive condominium (EC) offerings, Sea Horizon, is also in its midst. With the infusion, of these private residential properties in the area, it is not surprising that HDB flats in the area and the surrounding district of Tampines are also gaining popularity with buyers.

 

EC’s potential attracts buyers

Most who qualify for an executive condominium (EC) are likely to apply for one when weighing the potential of an EC against a private condominium. And that perhaps fulfils the purpose of these public-private housing hybrids, which is to help citizens make a progressive step into the private property market. EC’s are public housing which become private housing after 10 years. This means buyers are able to enjoy the perks of a private residential apartment including the facilities and the eventual potential appreciation in value in the open market as a private property. There is an income cap however, at $12,000 in gross household income and the minimum occupation period (MOP) of 5 years still apply as they are essentially public housing provided by the Housing Board (HDB) on the onset.

The Vales

Their popularity has risen immensely, reflected in the often-sold-out launches. At the Forestville and Sea Horizon ECs by MCC Land and Hao Yuan Investments, up to 95 per cent of their units have been sold. Both properties are expected to receive their temporary occupation permits (TOP) by 2016.

The 653-unit Forestville executive condominium is situated in Woodlands, an upcoming regional business hub, and near the future Woodlands South MRT station. Schools in this area include the Singapore American School, Innova Junior College, Singapore Sports School and Republic Polytechnic. Across the island in Pasir Ris, just two bus stops away from Pasir Ris Central, the 495-unit Sea Horizon prides itself in being the only EC with a sea view.

It will be an exciting market to watch as there are quite a few new ECs being launched in this half of the year, including Westwood Residences, The Brownstone, Sol Acres and The Vales.

The many pluses of a Brownstone

Say Brownstone and most would think of the infamous (and also notoriously expensive) townhouses in America built in the 1800s.

But here in Singapore, a similarly named The Brownstone is a executive condominium (EC) in Canberra Drive. Response however was just as keen as it would have been if it were a brownstone townhouse in New York. Part of the attraction came from its proximity to the upcoming Canberra MRT station. Both the EC and the MRT station are planned for a 2019 completion date. The Brownstone will also feature a unique brown, sandstone-textured facade and jetty-like balconies.

The Brownstone ECThe 638-unit EC received 300 applications over the weekend of its launch and considering how the competition in the EC market has heated up since there are quite a few currently available for application in the market. Prices are expected to start at $599,000 for a 732 sq ft two-bedder to $1.3 million for a 1,711 sq ft penthouse. Other ECs launched recently include Westwood Residences on Westwood Avenue and The Vales at Anchorvale Crescent.

Buyers are often partial to executive condominiums as they are a hybrid between public and private housing, which means government grants can be applied to the initial purchases of these units, and after 10 years, they will become private properties. More often than not, their values would have appreciated by a considerable amount by then.