Urbanestates.sg

22/08/2024

With effect from 20 August 2024, the Loan-to-Value (LTV) limit for HDB loans will be lowered from 80% to 75%, which would be the same LTV limit as a mortgage loans granted by financial institutions (i.e. bank loans). The revised HDB LTV limit will apply to complete resale applications received by HDB on or after 20 August 2024. With the adjustment, it would affect HDB buyers planning a purchase with HDB loan without sufficient CPF to cover the additional 5% down-payment.

Read on: https://www.era.com.sg/ltv-cooling-measure-2024/

16/07/2024

🧐“99-to-1” vs “100-to-1”: What’s the difference between these shareholding arrangements? Which of them is IRAS actually cracking down on? Here are the answers!

Plus, insights from experts here: https://www.era.com.sg/99-to-1-shareholding-legit-arrangement-or-illegal-absd-loophole-experts-explain/

24/05/2024

28/04/2023

Changes to HDB Buyer's buying process - where the new system would integrate (1) eligibility for flat purchase, (2) CPF housing grants and (3) HDB housing loans into 1 application step under HDB Flat Eligibility (HFE) Letter

Buyers can find out their eligibility to buy a flat and their CPF housing grants and HDB housing loan quanta in a single application. Read more at straitstimes.com.

27/04/2023

The policy still favors first-time genuine home buyers who are local citizens or PR. The main target is foreigner with foreigner ABSD doubling from 30% to 60%.

https://www.mnd.gov.sg/newsroom/press-releases/view/measures-for-a-sustainable-property-market

15/02/2023

Deputy Prime Minister and Finance Minister Lawrence Wong delivered the 2023 Budget statement in Parliament yesterday, and we've summarized the key changes to housing policies.
- Pretty positive news for the first timers buying HDB (more grants😊)
- Increase in Buyer Stamp Duty for residential property above $1.5mil (below $1.5mil no changes)
- Increase in Buyer Stamp Duty for commercial property above $1mil (below $1mil no changes)

30/09/2022

New cooling measures and how do they impact you?

For private property buyers, the big change is in the way financial institutions calculate your projected mortgage (3.5% to the new 4%) towards your total debt servicing ratio (TDSR).

A 1.5m purchase on a maximum 75% loan and maximum loan tenure of 30 years works out as $5052/month instalment based on the previous 3.5% interest rate used.
Now this same 1.5m purchase on the same terms works out as $5371/month instalment based on the new 4% interest guide.

If you were on $9200 a month salary, your 55% TDSR works out to be $5060.

You used to be able to make this 1.5m purchase previously ($5052/month) without breaching the TDSR, but with the new cooling measure changes, you are deemed to have exceeded the TDSR now ($5371/month).

There are solutions to this. Check in with me :)

10/05/2022

A follow-up post on the new ABSD rule on living trust, excerpt from BT:

"In sum, a trust that buys a first home for a minor who is a citizen should be able to get a refund of the 35 per cent of ABSD."

"However, parents using a trust to buy a home for a minor, who is a citizen, and want to fulfil conditions to get a refund of ABSD (Trust), should be absolutely clear that the said home belongs to the child and that the child, upon turning 21, is free to decide what to do with the home."

Source: https://www.businesstimes.com.sg/opinion/be-very-careful-when-using-a-trust-to-buy-a-home-for-a-minor

09/05/2022

With this new change in ABSD for residential properties transferred into a living trust (35% will apply), the loophole for buying in trust under minor's (child's) name will no longer be attractive.

What's next then? Well, you can still buy as a second property under your own name as a Singaporean, but pay 17% ABSD on the second property.

https://www.channelnewsasia.com/singapore/absd-trust-residential-property-additional-buyers-stamp-duty-2671836

06/05/2022

Looking for spacious 5R HDB near good school in Bishan?
- This 1302sqft unit is just opposite Kuo Chuan Presbytarian School

Want it to be near greenery/park?
- Walk/Cycle/Jog along the park connector to Bishan AMK Park

Must be near MRT/amenities?
- Short walk (8mins) to Bishan MRT and Junction8. There's also library nearby, plenty of food options

Check out my listing in PG: https://www.propertyguru.com.sg/listing/hdb-for-sale-182-bishan-street-13-23986846

25/04/2022

Rental market on the rise and is expected to continue on an upward trend for 2022. Supply has been pretty limited for 3bdrs and larger units from condo to HDBs, in all locations across Singapore, be it central or outskirt. Demand for city center units are also picking up with the reopening of borders and more incoming expats.

Read more to find out why residentials rents are increasing and if they will continue to rise.

23/03/2022

Tastefully renovated 4R HDB at Queenstown (4mins sheltered walk to MRT). Just pack your bags and move in :)

High floor, unblocked views, private corner unit, north-south facing (no west sun).

Don't miss out on this, call me at 96264126 for an exclusive viewing.

https://www.propertyguru.com.sg/listing/hdb-for-sale-51-strathmore-avenue-23927884