Athena Tay

08/10/2022

Hit me up if you’re interested to find out more about the Tengah EC 🥳

Copen Grand, the first executive condo in Tengah, will open for e-application on Oct 7

07/10/2022

Public transport in Singapore will be so much more convenient after this! 🥳

The new Thomson-East Coast Line stations are: Stevens, Napier, Orchard Boulevard, Orchard, Great World, Havelock, Outram Park, Maxwell, Shenton Way, Marina Bay and Gardens by the Bay.

20/08/2022

𝐓𝐡𝐞 𝟗𝟗-𝐲𝐞𝐚𝐫 𝐋𝐞𝐚𝐬𝐞𝐡𝐨𝐥𝐝 𝐂𝐡𝐚𝐬𝐦 𝐨𝐟 𝐇𝐃𝐁 𝐅𝐥𝐚𝐭𝐬

HDB flat resale prices rose for the 25th consecutive month in July, with prices increasing by an average of 0.7 percent compared with June.

In general, the value of old HDB resale flats is determined by the following 3 factors:

- Utility value
- Availability of financing options
- CPF withdrawal limit

With reference to the last picture, HDB resale value often depreciates with the ageing lease term.

HDB buyers are able to fund their HDB flats with either (i) a bank loan, (ii) a HDB loan, (iii) CPF funds, or (iv) cash. However, these options are only available when the resale flat is between 0 to 64 years old (with a lease term of between 35 years to 99 years).

HDB resale flats often face a first tipping point in valuation when the remaining lease is 65 years or less. There will be lesser buyers available in the market due to shorter bank loan tenures being offered.

The second tipping point comes about and the value of HDB flats will shrink at a faster pace when there is 35 years or lesser lease term remaining. The big drop occurs as banks usually require a minimum tenure of 5 years and no loans will be made available for properties with a lease of 30 years or less. Therefore, buyers will only be left with 2 options - (i) an HDB loan with a maximum of 15 years tenure, or (ii) use CPF and / or cash for full payment.

The third tipping point comes when the HDB flat has 30 years or lesser lease term remaining as CPF funds will no longer be allowed for down payment nor for HDB loan servicing. The remaining financing options will be either (i) an HDB loan with a maximum of 10 years tenure that is serviced solely with cash (assuming property can cover buyer to at least 80 years old), or (ii) full cash payment. At this point, the monthly repayment of P+I on the HDB loan could prevent buyers from purchasing.

The last tipping point is when the remaining leases drop to 20 years and under. At this point, buyers will not be eligible for any loans and CPF funds cannot be used for the purchase. All transactions must be fully paid with cash upfront.

As disclosed by Mr Lawrence Wong, the value of HDB flats will go to zero at the end of the lease term if they were not picked for SERS.

So when will be the best point to let go of your flat? Drop me a text at 8808 4860 to discuss to prevent encountering the various tipping points!

12/08/2022

𝐏𝐫𝐨𝐩𝐞𝐫𝐭𝐲 𝐎𝐩𝐭𝐢𝐨𝐧𝐬 𝐅𝐨𝐫 𝐅𝐢𝐫𝐬𝐭 𝐓𝐢𝐦𝐞 𝐁𝐮𝐲𝐞𝐫𝐬

"Ahhhh so many types of property, what should I buy??? 😟"

If you ever asked yourself this question, fret not! I have compiled the pros and cons of each property option for first time buyers to ease the difficulty of making this decision! The last picture will also show you what are the available options in the current market to help you arrive at an informed decision 🥳

Feel free to drop me a text/call at +65 8808 4860 if you wish to have a further chat on your options. Alongside the S.A.F.E method mentioned in my previous post, we can work together to help you achieve your property goals!

08/08/2022

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐭𝐡𝐞 𝐒.𝐀.𝐅.𝐄 𝐦𝐞𝐭𝐡𝐨𝐝?

The process of buying or selling a property might seem complicated. However, the team and I have put together a property roadmap checklist, detailing the different stages and actions involved in a simple and clear-cut way, aiding you in a seamless and hassle-free property transaction!

Wondering how you can leverage on the S.A.F.E method to plan out your property journey or next course of action?

Contact me at +65 8808 4860 or drop me a DM for a chat! 😄

11/05/2022

ABSD now does not apply where there is no identifiable beneficial owner at the time the property is transferred. . Read more at straitstimes.com.

08/04/2022

𝗧𝗵𝗮𝗻𝗸𝗳𝘂𝗹 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗿𝗲𝗰𝗼𝗴𝗻𝗶𝘁𝗶𝗼𝗻

Thankful to be part of the top 20% amongst 8000 agents in the company in my first year as an agent. Couldn’t do this without the support of my clients, family and mentors!

Onward to a better year ahead 🥰

09/03/2022

𝙉𝙤𝙧𝙩𝙝 𝙂𝙖𝙞𝙖 @ 𝙔𝙞𝙨𝙝𝙪𝙣

With the last EC in Yishun being launched in 2015, North Gaia has been a long awaited EC launch by many Northsiders!

The developer, Sing Holdings, will be launching North Gaia with a unit mix of 3 to 5 bedrooms which will help to cater to the different needs of EC buyers.

Drop me a text at +65 8808 4860 if you wish to find out more information on North Gaia! ☺🔥🔥

23/02/2022

𝐂𝐮𝐫𝐫𝐞𝐧𝐭 𝐀𝐁𝐒𝐃 𝐫𝐚𝐭𝐞𝐬

Catching on to the Wordle trend, let's have a talk about the current ABSD rates!

I have illustrated the rates applicable for different property purchase & purchaser, as well as a case study to show the quantum of ABSD that will be payable.

Many of us (including me!) will find the hefty ABSD payment intimidating and it may end up stopping us from our next purchase.

However, is there any way to avoid paying this ABSD or getting a refund for it? Do contact me at +65 8808 4860 to find out more 😀

30/01/2022

𝐓𝐡𝐚𝐧𝐤𝐟𝐮𝐥

Thankful for all the support from my clients in 2021!

Managed to end 2021 and start 2022 with a bang 🥳 Will continue to service my clients best possible in 2022.

Wishing everyone a happy Lunar New Year ahead 🍊🍊 恭喜发财，虎年行大运！

25/01/2022

Informative summary of the different types of floating rates!

The three most common terms related to housing loans in Singapore are Singapore Dollar Swap Offer Rate (SOR), Singapore Interbank Offered Rate (SIBOR), and now, Singapore Overnight Rate Average (SORA), which will be adopted as the main benchmark interest rate for Singapore’s financial rates going ...

25/12/2021

Wishing all a merry Christmas and a blessed 2022 ahead! 🥰