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How Much Money do you Need to Buy Singapore Condo?

Buying a Condo in Singapore – An Expert’s Fact Sheet

A condominium in Singapore can range between S$ 1,358,000 and S$ 2,999,000 depending on several factors. The variables of price, location, size and facilities are some of the critical determinants. Lately, there has been a surge of interest in condos that are located within some of the most popular residential places such as Lorong 3 Toa Payoh, Alexandria Road, Elias Road, West Coast Park and Robin Residences are highly likely to cost higher than condos in less popular areas. Fully furnished condos fetch higher prices than partially furnished units. Some of the upscale residential estates that determine the pricing trend include Park Natura, Trevista, Riversound Residence, Sophia Hills, The Cascadia and many others.

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Size Matters

The size of a condo in Singapore determines its cost. A three bedroom condo that measures 1,200 square feet costs around S$ 1,600,000. Such a unit is usually partially furnished and features some basic facilities that are expected of a condo within its price range. However, a different three bedroom condo that measures about 1600 square feet is likely to be priced around S$ 1,780,000. The cost may inch towards S$ 1,800,000 if the condo features extra enhancements and modest enhancements. A partially furnished two bedroom condo that measures over 800 square feet may cost over S$ 1,358,000. In some cases, the age of the unit and the kind of improvements are considered when setting the price of a Singapore condo.

Facilities that Determine Cost

The cost of a Singapore condo is largely determined by the kind of facilities that it features. The most expensive condo will include a vast range of facilities that include a clubhouse, lap pool, swimming pool, Jacuzzi, pavilion, tennis courts and outdoor exercise stations. Other condos in upscale areas such as Park Nutra and 183 Longhaus may include facilities such as landscape gardens, sun deck, private lifts for a select few and yoga pavilions. The number and nature of facilities are important determinants of the cost of the condominiums.

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Amenities

Singaporean condos are also priced according to their proximity to crucial amenities. Some of the amenities that buyers look for include food courts, supermarkets, banks, clinics, schools, eateries and libraries. Naturally, buyers will choose condos that offer them some level of logistical advantage with regard to distance. Access to major highways, railroads and highways also determines the cost of the condos. Such a natural trend in the preferences is likely to increase the cost of condos because of the rise in demand. The forces of demand and supply have always factored in the determination of the cost of the condos in Singapore’s favorite residential estates.

Property market predictions 2016

It would appear that the future of the property market in 2016 is looking more positive with improvements in confidence and demand towards the backend of this year. As reported in Nationwide’s House Price Index, prices rose for 9 consecutive months in 2012, resulting in an increase of 2.7% over the last 12 months. The average house price in October was £162,038, which is comparable to early 2006 levels. In London this is even more pronounced, with Haart estate agents reporting that house prices rose by 10% in November increasing from around £274,000 to £302,000.

But the question is, are these increases just a result of increased demand being matched by low supply? Some analysts are predicting that we will experience further price falls of up to 7% in 2016. Their rationale is that the recent improvements in the property market are unsustainable and defy the state of the economy as a whole, with rising unemployment and poor credit availability still very much a problem.

Many typically anticipate that unemployment rates, securities exchange wellbeing and credit accessibility will be the central point influencing the property market in 2016. If we don’t endure any more major monetary stuns, many anticipate that property costs will diminish by around 2-3% with expansions being as high as 7-9% in 2016.

The increases in 2014 have been down to all time low interest rates set by the bank of England, which have tempted the blessed who can actually obtain a mortgage to jump in and take advantage. As well as this rental returns are on the increase, this has been beneficial for cash buyers.Additionally a year ago the Council of Mortgage Lenders (CML) anticipated that up to 75,000 homes could be repossessed in 2013, however, because of to a great degree low financing costs many have seen their mortgage reimbursements decreased, which has implied less constrained deals and lower supply in the property market. This prompted the CML diminishing their previous prediction down to 48,000.

A factor which could impact the state of the property market is that the government might well have to cut costs in order to assist in balancing the fiscal stimulus, which has taken place. If this means cutting jobs in the public sector it could result in many people losing their homes. As a consequence this could affect public confidence in the economy, increase unemployment rates can cause over supply in the property market.

What is evident is that the performance of the property market can not be measured on a national level as this varies drastically. If you are thinking of buying or selling your house fast, look closely at your local area and how it has performed. Look out for areas which rely heavily on the public sector for employment as these areas could be at risk. And most importantly keep an eye on rising interest and unemployment rates any increases could spell further trouble.
With the local economy continues to work itself out of the shadow of financial downturn and H1N1 flu, the Singapore property market has been doing brisk business.The business is so great that government has turned cautious on the sustenance of the current phenomena. Past two years has seen a flurry of buying activities and bullish developers have been assaulting our senses with their incessant advertisements on a daily basis, all hawking for our attention on their properties.

No doubt the experience of the mid nineties boom and bust cycle still stays fresh in the administration’s mind. With the benefit of past experience, government is ready to pull out all stops to make sure this would not repeat itself in the near future.

Among them are land supply decision, money supply tightening and tax policies. We are about to tell you how this individual measure works and how effective it can put the overheated market under control. There are actually a few tools at Singapore government’s disposal to better handle any similar incident.

As a result, speculation of newly built property would cut down drastically.Land Supply Decision – Government is the biggest land owner in this island and when they do decide to cut down land supply for development, it will have a direct impact on the property market. Developers would have nowhere to turn to for the building of their luxury properties and correspondingly minimize the new launches.

The maximum allowed loan quantum is 90 percent of property value.Credit Tightening – A popular rumor is making rounds in the property sector that a comprehensive review of the credit market is underway. When government does decide to bring this down to 80 percent, or even lower, the whole market would be hit hard.

Government introduced capital gains tax at the height of nineties property boom but has since abolished it. Capital Gains Tax – This is a tax derived from the profit obtained from the sales of property. When this taxation is applied, it will treat profit as income and subject to the prevailing tax rate at either individual or corporate level.If this is brought back into the fray, it is expected demand would be slowed down significantly and will be effective to discourage speculation as profit would be reduced.

Property Tax – Another effective way to deal with an overheating market is to raise the property tax.Again based on reduced profit psychology, speculative activities could be significantly reduced due to the perceived small profit.

Double Stamp Duty – A legislative change may necessitate that both buyer and seller pay stamp duty. When it is implemented both ways, it is hoped that sellers/speculators would be more reluctant to freely sell/trade a piece of property.Currently stamp duty applies to buyer only.

But it is still early to tell if the current property interest is genuine and thus sustainable or if really another bubble in the making.These are just some of the measures that government can use in its attempt to put the property market under control.

 

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What if I Say That Everyone Can Make Money in Real Estate?

Real estate is one such niche that provide you so many ways to really make good amount of money. If you really understand about the niche and the way deals need to be done in this niche then things can really happen in much better way. If you really want to explore this field and try to make money out of it then here are the various ways and options that you have.

Realtor Job

If you are someone with good amount of contacts in your society then you can take up the realtor job. This is the kind of the job that can make you earn money without actually doing any amount of investment. All that you need to do is to is to promote the properties that are available for sales and also get the deal be carried out. You earn in the form of commission. It is really a profession which can make you earn without actually doing so much of investment. It is really makes you earn in good way if you really put some effort as realtor job. It is the finest way through which you can easily get the commission.

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Longer Term Rental Properties

Buying some rental properties for longer term is a good way for you to earn through it. It is necessary for you to invest really a good amount of cash for such kind of properties but the returns that you get by investing on such properties are really incredible. It is necessary for you to ensure that you buy the right kind of the property and should show patience in finding out the right one. It is possible for you to make more than 20 percentage of the cash on the cash returns for the investments as longer term rental – properties. When you are investing in the business, it is necessary for you to focus on the cash flow.

Fixing and Flipping

When it comes to real estate, the best way through which you can make money is by buying a property fixing that and then flip it. It is really a good way through which you get good amount as returns. Even some of the small enhancements that you make at home can also do much favor to you. It is always good for you to invest on it as you need it.

Investing with REITS

REITS is the Real Estate Investment Trusts which can be purchased in similar way like mutual funds as well as stocks. It is possible for you to purchase them with the money that you have and also you are sure of getting some good outcome. REITS are usually the huge funds that are meant for investing in the business and then pass on profits as well as dividends to the people who are the share holders. REITS usually can make investment with huge commercial projects, industrial buildings, government buildings and also land. It is the best ad easy way for investing in the real estate.

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A Short Guide to Buying Asian Homes

Asia is a great continent. And for people from the west, it can be full of pleasant surprises. Sure you can visit Asia every now and then. But to truly enjoy this continent, it is highly recommended that you buy a house in one of the many beautiful Asian countries. Of course investing in real estate in this continent is not only a smart personal decision for someone. It can also be considered as a great money-making move. Investing in real estate has always been a great business strategy. But many experts believe that investing in Asia is a particularly wise move because of the many opportunities that the region offers.

There are actually several reasons why you should consider investing in Asia. For one, many countries in the region are just opening up to foreign investors. This translates to greater transparency for the most parts. The right time to invest in the region is right now when the proper of properties are not yet inflated. Another reason why it is a good idea to invest in Asia is the fact that the Asian economy is not really affected by the economic problems that are plaguing some parts of the world right now. This means that it is relatively safer to invest in Asia than in other regions.

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Asia is also a very diverse continent. Choosing where to buy a house in the region would depend on what you are looking for. If you want to live in a cosmopolitan environment where many of the conveniences that are found is present, then the best choice for you would be Singapore. Prices of real estate in Singapore may be more expensive compared to other Asian countries but it also probably presents the best return of investment and the best opportunities for people who are looking great economic gains. Singapore is also ideal for individuals who would like to settle down and have a family because of the peace and stability that the small city-state provides. Indeed, Singapore is considered by many as one of the most peaceful countries in Asia.

Another Asian country that you can consider is the Philippines. You should know though that Philippine laws do not allow foreigners to buy land in the country. But there are several ways to go around this restriction. One is to marry a Philippine citizen and let them buy the property for you. If you are not looking to get married, then another option is to establish a company that is at least 60% Filipino-owned. You can then buy property by establishing a corporation with your Filipino partners. However, you should be aware that the Philippines also has an anti-dummy law. When found guilty of using a dummy to buy Philippine properties using a dummy, your property could be ceased.

Thailand is another beautiful Asian country and another place where you can buy real estate. The easiest way to invest in Thai real estate is to buy a condominium. Thanks to the Thailand condominium act, foreigners can own 49% of every condominium development.

These are just three options for people looking to buy Asian homes. Asia is actually a large continent which makes real estate options almost infinite.

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How to get rich selling luxury homes

Selling a luxury home is an excellent way of investing as it has plenty of opportunities to making huge profits and other gains in life without much of headache along the investment journey. Investing in luxury properties has been converted into progressively more popular way of investment. Despite the fact that it really makes an awesome deal, it has its demands. Having possession of luxury homes is a lot more complicated and difficult than most of the other investment plans. Therefore, perfect locality of cash reserves in this kind of investment is definitely the best option. For that reason, it’s important to consider the following factors to avoid future financial crisis before investing in real estates.

1. How a real luxury home marketed-
It is very essential that a real estate agent advertises the property through social media. Social media is a crucial marketing tool which most real estate agents don’t understand or utilize. It is important for the agent to have his/her own website with mobile responsive also.

2. Required real estate capital-
Practically anyone is capable of investing in habitual impartiality assets. Some shares can be economical even when it comes to real estates. To obtain a property, you must have the down payment, or have partners willing to invest with you. Classically you need to put down 20 percent and although assorted programs can facilitate you to put down a less significant percentage.
The preliminary cash expenditure is what deters as many would be real estate investors, as you could effortlessly spend upwards of $100,000 on a down payment and initial maintenance. In addition, real estate obliges supplementary capital to sustain the property, frequently not at the owner’s behest. With stocks, you can make a just once speculation or purchase additional shares later, at your prudence.

3. Rate of inflation-
Real estate can be a probable prevaricate against inflation as previously, rental charge and home outlays increase with inflation. This offers an impending inflation evade for both rental profits and sale of the possessions. Since mortgage expenses will not increase with price rises, it offers advantage over time.

4. Time-
This is an important factor to reflect on when deciding on an investment plan to settle on. A lot more time is required in selling and upholding a property as well as running any enhancements, also the owner is required to attend to any problem that arises. Employing a property administrator is an alternative, but depending on the dimension of the property.

5. Film and photograph your property-
While selling a luxury property, you need to have it photographed by a person who is professional. Photos give a depiction that is accurate of what the space looks like. Therefore, a property that is beautiful will give buyers the first impression of the home. Also, taking a video is much more important as it provides a feel for what the property is like.

The above mentioned tips are very beneficial as they can play a big role in to making you get rich by selling luxury homes if you read them keenly and understand them.

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How to Inspire Sellers to Stage their Homes

After years of stagnation, the housing market is booming again. This is an opportunity for homeowners and real estate agents, to use their marketing skills and have their homes stand out of the crowd. Just like with many other properties, making your house stand out is a good way of ensuring that the house not only sell faster but also fetches more money than competitors fetch.

Staging a house makes a house more marketable when compared to un-staged homes. Unfortunately, many sellers do not understand the benefits of staging a house. In cases where sellers are aware of the advantages, they may not opt for the tactic because they are either afraid of additional costs or do not have the time to do it. However, a well-planned process will most likely cost less and will not take up much time. Below is an easy guide to staging a house.

Get everyone involved

Having your family aware of what you are doing helps to quicken the process. For instance, too much clutter and lawns that have been neglected will be fraught upon by potential buyers because of the perceived extra costs of mowing and clearing expenses. Thus, having your children give out unused toys, clothes, and other home appliances reduces the amount of clutter. Additionally, tending your yard and getting rid of stumps and other debris will make your house look livable and thus attract more clients easily.

Expose your house to the world

It is said that a picture tells a thousand words. By uploading pictures of your well-kept and maintained house, you stand a chance to attract buyers that are more serious and in a shorter time period. This helps to reduce your advertising expenses especially if you are not using professionals to sell your house. Thus, it is important for sellers to post photos of their houses to potential buyers so that they can have a glimpse of your house before short-listing their choices.

Understanding the benefits

It is very difficult for a seller to stage a house, if they do not understand the benefits. For one, a staged house ends up earning more than an un-staged home. Secondly, a staged home tends to sell much faster. When sellers understand that staging a house is a form of marketing, they will be more willing to stage their houses. Just as the way car owners spruce up their vehicles before selling them, home sellers should look at staging as a way of marketing the house.

Blind selling

A staged house mostly attracts sellers to the good side of the house. This causes many buyers not to concentrate on the flaws but rather the benefits of owning the house. As a result, a staged house will probably cost you less in repairs and renovations while at the same time earning the seller more money than similar houses that have not been staged.

Conclusion

If you are planning a home sale, you are probably hoping to get the best value for it. Apart from the size, location, and special features of the house, staging a home will probably get you closer to what you are targeting to raise. However, it is important to ensure that you do not over-do it as a keen buyer will know that you are trying to hide something, and this is in no way a good sign to a potential buyer.

 

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Fabulous Singapore Condos That You Will Want To Live In

  1. The Amore– The Amore is an executive condo with 378 units only. They have between 2-5 bedrooms also a pent house condo with high ceilings. The Amore also have full basement carports with Italian imported kitchen cabinets and a fully furnished kitchen with a new refrigerator. The Amore is a beautiful sky scraper with a large swimming pool on the outside. Monthly these condo’s will run about $2,000 a month totality paying $1,000,000 for the condo. 1.5% of this would be towards the interest which would approximately taking 30 years to pay off.Very affordable and newly renovated lovely condo’s this would be an awesome choice for a condo.

 

  1. Riversound Residence– Riversound Residence located at Sengkang East Avenue in District 19. They have plenty of amenities such as grocery shopping and retail stores. Also Riversound Residence has condo facilities such as a lounge, bbq pit, and pool deck. This condo would be perfect if you are always hosting events or if you are always the life of the party every one would absolutely love the venue at the Riversound Residence! Riversound Residence has 580 units in an amazing developmental property. Another great perk with Riversound Residence is that they have 3 MRT stations less than 2 km. away.

 

  1. Boathouse Residences Condominium– Boathouse Residence Condominium is located in upper Serangoon View. Boathouse Residence is different from most condominiums because they have putting green, Jacuzzi, 24 hour security, playground, gym and jogging track. I for one would definitely utilize the jogging track because I run every morning I would love having a track right outside my front door! There is also 3 different schools close in distance as well as shopping centers, banks and retail stores. Boathouse Residence also have up to 4 bedrooms available as well as penthouses. At night the beautiful lights come on and the condo’s are well lit and great to look at. I will definitely love to live at this condo because I can host events and have an amazing view for every one to look at as well. It is also very close to different venues and things that me and my guest can do. I would never be bored living there!

 

  1. Sea View Condominium– Sea View Condominium is located in the middle of the city and just a ride away from the attractions that Singapore has to offer. The condo has a big lap pool as well as a children’s pool which is absolutely awesome to have pools both adults and children can enjoy. I usually have parties for my kids and their friends a kiddie pool in my complex would definitely put me in the ranks of being the world’s best mother! Also a Jacuzzi pool for relaxation or to enjoy a quiet night with your significant other or perhaps maybe just friends. There is also a steam room in which you can indulge in after a work out at the gym also located on the property. There is also a lovely sky view located on the 24th floor which would be absolutely amazing to look at especially with a nice glass of red wine! There is also a neighborhood map provided which includes all the main attractions and the distance.

 

  1. The Parc CondoThe Parc Condo is a newly renovated development with a whole lot of perks! The condo has a big living room and dining area with an unblocked balcony view. Also including a fully equipped kitchen with all the necessary gadgets. The condo has up to 4 bedrooms available. Not to mention there is plenty attractions close by including the Botanical Garden, Theme Parks and water parks just to name a few to put the icing on the cake these places are actually in walking distance! The windows in all rooms are huge as well as hard wood floors in every room excluding the bathrooms. The bathroom has a gorgeous marble floor with a amazing Jacuzzi style bath tub. The shower has large glass shower and very roomy. The Parc Condo is a gated community so it is very safe and private.
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Good and Bad Debts for Real Estate Investment

Real estate is a market that has had an interesting history over the last decade, at times booming and at times turbulent. But it is important to recognize the role that real estate plays in both the markets and the economy. Real estate investment has proven to be a profitable proposition over the long run, even though there have been some major busts. Consider that real estate has shown positive returns much more often than negative ones in the last century. It can be easy to be overwhelmed by recent crashes and too easy to overlook all of the good returns that have been provided in this area.

There are both good real estate debts and bad real estate debts. So what is the difference? For example, holding apartment buildings in Miami or Las Vegas at the time of the 2008 real estate crash would indicate major trouble. This asset bubble led to a bad real estate debt in what was previously a profitable venture. Also consider the different markets throughout the United States and the world. There have been plenty of times when good debts can turn into bad debts in short succession. It is possible to find real estate investments that can weather the storm, but it takes a keen eye and plenty of experience. The most important thing is to know your market.

A good debt is one that returns a profit, or a potential for profitability. While someone may have a debt on an apartment building or house, if they are generating enough rent this debt still comes out as cash flow positive. Acquiring these assets is crucial to doing well in the inevitable down times. A profitable buy will provide returns for decades to come, so it makes sense to buy wisely and maintain the property adequately. This will add to the costs of keeping up your building, but will oftentimes increase the return on the property. As with any investment, it makes sense to keep a reasonable debt to cash ratio. Overdoing the debt process could sink even a well-organized enterprise.

Bad debt can be thought of as any debt that doesn’t provide a return. The classic example of this is the apartment building which has been built well but poorly maintained. This structure could be turned into a positive asset with enough ingenuity, but the owners fail to keep the building in pristine condition. Eventually, due to lack of tenants, the building shows signs of outer decay which then increases liability. In turn, this makes it harder to find new tenants. A vicious cycle ensues and a good investment has now turned poor. In many cases the line between a good investment and a bad investment is thin. The main thing to remember is attention to detail and an ability to recognize what is coming. Most importantly, do not feel overly committed to any one investment. If something is a loser, drop it. It may hurt in the short term but it will save a bundle in the long term and won’t end up breaking the bank.

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How to Get a Property Job in Singapore

There are various properties that are available for rent in Singapore. The properties include condos, bed roomed apartments, offices and storage facilities. All these properties require experienced property managers as well as semi-skilled assistants.

Foreigners have a challenge in getting jobs in Singapore unless they are skilled. The best way to get a property job in Singapore is to get a work permit and live in Singapore for a while. As a foreigner it is also important that you get to understand the local culture.

The best way to understand a culture is by living with the people of that culture. To do this obviously means having to live on a tight budget. You have to do this as you wait to get your job as a property manager. Having a place to live will obviously be your first concern. Most people will choose to find an affordable place to rent.

There are condos available for renting but you have to look for them. The good news is you can do it online. Once you have a place to live in, you can then consider starting as a property Assistant manager. You have to start as an assistant if you have the education without the experience as a property manager. The Singapore Condo property is booming and there are jobs in plenty. Experience is the foreigner’s main huddle to get at these jobs.

As a property assistant manager, your functions will be about ensuring that proper records and documentations of the property are well kept. You are also expected to carry out routine maintenance as well as supervise or monitor contractors as they carry out regular servicing. A property assistant is required to attend to the tenant request for service and relaying the same to the tenant service center.

As the local contact person, you also attend to all incoming and outgoing calls meant for the condo property management. Other duties include car and tenancy administration issues. Finally as an assistant you are required to prepare billing reports as well as other duties that may assigned to you by the property manager.

In terms of qualification, you are required to have at least a diploma in either Facilities, building or estate management. Employers also expect one to have good communications skills and about 2 years experience. You should also be able to work independently in a fast paced working environment of Singapore condos.

The remuneration is about $4000 per month on average and one is expected to work from 8.30am to 6.00pm in the evening. Once you become experienced it becomes easy to be considered for a senior property manager position. A big bonus is if you have had similar position in other major cities around the world. Experience is your best chance of getting the property manager job in Singapore as a foreigner.

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Best Places in the World to Make Money from Property

A region greatly determines whether to hold or sell property. There are huge returns in buying property that has potential for growth. In this way, you get the best price for property that you can easily sell. There are locations where returns from property make sound economic sense. Being in the real estate sector for the following markets can be very beneficial:

The United States

The U.S. mortgages are easy to get and at an affordable rate. The prices of property are also on the rise. It is a worthy investment to buy property in the United States. The growth in property values is roughly 20 percent annually. The selling rate of property is also good. The United States experiences larger increases in Florida, California and New York properties.

London

The prices of new property in some areas of London are a lucrative investment. Homes and shops near social facilities also make a great investment. Areas around Victoria are cheaper than other locations. Additionally, it is common to find flats for sale. Another positive note is that rental income is on the rise.

Singapore

Singapore is a cosmopolitan city-state that where property prices are assured to increase. In addition to the rise in Singapore property value, there is good rental income from property. A fully rented Singapore property has great returns. The cumulative costs of buying property and even the taxes are fair. With adequate market research, emerging countries like Singapore make sound investments in property.

Brazil

Brazil has been a buzz of activities since the World Cup in 2014. This country will also host the Olympics in 2016. Likewise, Brazil’s economy is growing at a notable rate. The property values are rising rapidly and more so in São Paulo and Rio de Janeiro. The pressure in property prices is similarly a result of the increase in population in these towns.

Maidenhead, Berkshire

Berkshire is not a household name but delivers on property investment value. There is a high speed rail in this location and many other amenities. The investment around the station is hotcake. There is an increase in prices of property in this area where property costs are not high.

Estonia

Estonia’s capital Tallinn is hi-tech and very attractive for property investment. Property prices are on the rise and this state has very low unemployment rates. This means that a number can afford rental incomes and house purchases. Housing units are also coming up near golf facilities such as the Estonia Golf and Country Club.

Edinburgh

The Edinburgh airport has led to increasing interest in property along this area. Housing prices are on the rise in Balgreen, West Lothian, Saughton and Gogarburn areas of Edinburgh.

The Alps

The Alps provides great scenic areas and sporting activities. Skiing is a common sport in this area. There is also high demand for property in the Alps. The locations are great, accessible and there are also tax breaks.

 

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