Desmond Lek - Singapore Property Consultant

02/08/2023

It’s hard to find a genuine connection these days. Thanks for sharing with us your systematic approach take on real estate. To more deals to come! p.s. Thanks for the thoughtful gift and a delicious meal! 💝

16/05/2023

Time of our lives 🌴

22/10/2022

https://www.99.co/singapore/condos-apartments/terra-hill

TERRA HILL
Former Flynn Park (D05), 270 exclusive units, 2-5 bedrooms, Target preview date: 10 Feb 2023

These are the top reasons to live or invest in Terra Hill Condo:

1. Traveling is easy with Pasir Panjang MRT a mere 5 minutes walk away. Labrador Park MRT Stations and Haw Par Villa MRT Station are also nearby.

2. It’s within a 5 mins walk at Pasir Panjang Food Centre. Many more restaurants, eateries, and F&B outlets are in the vicinity.
Fetch your groceries close to home at Cold Storage Anchorpoint, NTUC Fairprice (Telok Blangah), and NTUC Fairprice (PSA Branch).

3. Shop for everything at a stone’s throw distance from Viva Vista Shopping Mall, Alexandra Retail Centre, and Queensway Shopping Centre.

4. Reputable schools like ISS International School are a short drive away.

5. Leisure and recreation are available nearby at Hort Park, Kent Ridge Park, Pasir Panjang Park, and Labrador Park are a short walk away.

Terra Hill (Former Flynn Park) is a new launch condominium located at 18 Yew Siang Road in Pasir Panjang. Read more on 99.co

09/09/2022

24/12/2021

Merry Christmas! 🎄🤶🏻🎁

May the magic and the wonder of the holiday season stay with you throughout the coming year! 😊

04/05/2021

Chanced upon this news article by Reuters (world’s largest multimedia news provider). Took the initiative to summarise the article for you 😊

1. Housing prices have gone up 3.3% in the first quarter, highest in 3 years

2. Government likely to intervene soon to calm the market. Possible cooling measures:
- Decrease in Loan To Value (LTV) Ratio
- Increase ABSD for 2nd property purchasers & Foreigners

3. Foreign demand is increasing: Total transactions in first quarter nearly doubled from a year ago

4. Supply is set to tighten in both private and public housing due to pandemic delays in construction

5. Depleting inventory: To replenish inventories, there will be intense competition by developers which will lead to an increase in prices.

Source: https://www.reuters.com/world/asia-pacific/singapores-hot-housing-market-faces-risk-cooling-curbs-2021-04-30/

If you’re still looking for a property to invest, I will be able to propose a few projects.

These are the factors that I take into consideration:
1. Location (Proximity to MRT, Amenities, Schools)
2. Entry Price
3. Future transformation
4. Number of units
5. Land size
6. Supply & Demand in the area
7. Developer
8. Unit layout & facing
Hit me up if you’re keen!

Best,
🤵🏻 Desmond Lek
📲 92968635
CEA: R060821E

Ishwinder Kaur and her husband spent more than two years looking to buy their first home in Singapore, hoping property prices would dip during the hunt.

03/05/2020

https://www.edgeprop.sg/property-news/behind-price-declines-core-central-region

SINGAPORE (EDGEPROP) - URA data showed that the Core Central Region (CCR) — which covers the traditional prime Orchard Road districts of 9, 10 and 11, Marina Bay and the CBD area as well as Sentosa Cove — suffered the biggest quarterly decline of 2.2% in 1Q2020. In comparison, the city fringe (Rest of Central Region) and suburban areas (Outside Central Region) saw 0.5% and 0.4% q-o-q declines over the same three months respectively.

The 2.2% drop in CCR prices followed a 2.8% q-o-q decline in 4Q2019.

This means that CCR home prices are now 4.9% below the recent peak in 3Q2018 and 7.2% below the all-time-high in 1Q2013, says Tricia Song, head of research for Singapore, Colliers International.

A closer look at the transactions during the quarter suggests that the decrease in the CCR non-landed property prices in 1Q2020 could be due to “selected launches sold at perceived discounts”, according to Song.

𝗦𝘁𝗶𝗹𝗹 𝘀𝗶𝘁𝘁𝗶𝗻𝗴 𝗼𝗻 𝘁𝗵𝗲 𝗳𝗲𝗻𝗰𝗲? 𝗖𝗼𝗻𝘁𝗮𝗰𝘁 𝗺𝗲 𝗻𝗼𝘄 𝘁𝗼 𝗴𝗲𝘁 𝗮 𝗹𝗶𝘀𝘁 𝗼𝗳 𝗮𝗹𝗹 𝗽𝗿𝗼𝗷𝗲𝗰𝘁𝘀 𝘁𝗵𝗮𝘁 𝗵𝗮𝘃𝗲 𝗼𝗻𝗴𝗼𝗶𝗻𝗴 𝗱𝗶𝘀𝗰𝗼𝘂𝗻𝘁𝘀!

Desmond Lek
📱 92968635

Buying activity by PRs and foreigners are likely to be affected by for a longer period of time with the extension of the circuit-breaker. What will the impact be on the Core Central Region?

01/05/2020

𝗡𝗲𝘄 𝗘𝘅𝗲𝗰𝘂𝘁𝗶𝘃𝗲 𝗖𝗼𝗻𝗱𝗼𝗺𝗶𝗻𝗶𝘂𝗺 (𝗘𝗖) 𝘀𝗶𝘁𝗲 𝘁𝗼 𝗯𝗲 𝗹𝗮𝘂𝗻𝗰𝗵𝗲𝗱 𝗮𝗿𝗼𝘂𝗻𝗱 𝗢𝗰𝘁𝗼𝗯𝗲𝗿 𝟮𝟬𝟮𝟭!

Prices of each EC launch has always been higher than the last. This EC site is located next to a mixed development, hence prices will be competitive as compared to our existing projects.

This launch will be in 15 months, pent up demand will inevitably drive prices up. Be a step ahead, contact me to learn more about our exisiting ECs!

Desmond Lek
📲 𝟵𝟮𝟵𝟲𝟴𝟲𝟯𝟱

30/04/2020

https://www.edgeprop.sg/property-news/resale-hdb-volume-drops-7-1q2020-worse-performance-expected-next-quarter

SINGAPORE (EDGEPROP) - The number of HDB resale transactions for 1Q2020 fell by 7.0% to 5,893, from 6,339 in 4Q2019, according to the housing statistics released by HDB on April 24. On a yearly basis, the resale transaction volume in 1Q2020 was 21.9% higher.

According to Lee Sze Teck, director of research at Huttons Asia, the bump in y-o-y resale transactions could have been due to private residential projects which obtained their Temporary Occupation Permits in 4Q2019 and 1Q2020, resulting in more HDB upgraders needing to dispose of their flat.

“HDB upgraders could be more willing to lower their asking price as the time pressure to meet the ABSD [additional buyer’s stamp duty] timeline increases,” says Lee.

He suggests that HDB should consider extending the six-month period for HDB owners upgrading to an executive condo, while the six-month period to claim back ABSD should be reviewed as well, in view of the “circuit breaker” measures to tackle the Covid-19 outbreak.

Meanwhile, the resale price index for the first three months of the year remained unchanged on a quarterly basis.
“Prices of HDB resale flats have been rather stable as major price fluctuations have been few and far between in recent years. Over the past 20 quarters, the q-o-q price changes had been within a narrow band of between -1% and 1%,” says Christine Sun, head of research and consultancy at OrangeTee and Tie.

According to Sun, the price affordability of most HDB flats remains attractive to some buyers, especially those looking for cheaper housing options, or a smaller housing loan considering the current economic uncertainty.

“Overall prices of resale flats may enter the negative territory should the health crisis persist and unemployment creep up. Property values may hold steady for areas of higher demand such as those located near MRT stations, amenities or the city centre,” says Sun.

Meanwhile, the resale price index for the first three months of the year remained unchanged on a quarterly basis

26/04/2020

https://www.straitstimes.com/singapore/nine-new-cases-in-the-community

𝐓𝐡𝐞 𝐧𝐮𝐦𝐛𝐞𝐫 𝐨𝐟 𝐧𝐞𝐰 𝐝𝐚𝐢𝐥𝐲 𝐂𝐨𝐯𝐢𝐝-𝟏𝟗 𝐜𝐚𝐬𝐞𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐡𝐚𝐬 𝐝𝐫𝐨𝐩𝐩𝐞𝐝 𝐭𝐨 𝐚 𝐬𝐢𝐧𝐠𝐥𝐞 𝐝𝐢𝐠𝐢𝐭 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐟𝐢𝐫𝐬𝐭 𝐭𝐢𝐦𝐞 𝐭𝐡𝐢𝐬 𝐦𝐨𝐧𝐭𝐡, 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐚𝐯𝐞𝐫𝐚𝐠𝐞 𝐧𝐮𝐦𝐛𝐞𝐫 𝐨𝐟 𝐧𝐞𝐰 𝐝𝐚𝐢𝐥𝐲 𝐜𝐚𝐬𝐞𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐚𝐥𝐬𝐨 𝐝𝐢𝐩𝐩𝐢𝐧𝐠 - 𝐬𝐢𝐠𝐧𝐬 𝐭𝐡𝐚𝐭 𝐭𝐡𝐞 𝐜𝐢𝐫𝐜𝐮𝐢𝐭 𝐛𝐫𝐞𝐚𝐤𝐞𝐫 𝐦𝐞𝐚𝐬𝐮𝐫𝐞𝐬 𝐚𝐫𝐞 𝐬𝐭𝐚𝐫𝐭𝐢𝐧𝐠 𝐭𝐨 𝐩𝐚𝐲 𝐨𝐟𝐟.

Yesterday, nine new cases in the community were reported.

Singaporeans and permanent residents made up seven of the new cases, while work pass and long-term pass holders made up the rest.

The Ministry of Health (MOH) said in its daily update that the average number of new cases in the community has decreased from an average of 31 cases a day in the week before last, to an average of 23 a day last week.

The average number of unlinked daily cases in the community has also dropped - from 21 in the week before last, to an average of 15 a day last week.

MOH also announced seven new coronavirus clusters yesterday.

They are: shopping mall Northpoint City in Yishun; dormitories Aspri-Westlite Papan, Kian Teck Hostel and SCM Tuas Lodge; construction sites at 8 Martin Place and 107 West Coast Vale; and 21 Defu South Street 1.

There are seven cases linked to the Northpoint City cluster.

The mall had announced on April 17 that three of its cleaners were diagnosed with Covid-19 on April 14 and 15.

Dr Leong Hoe Nam, an infectious diseases expert who practises at Mount Elizabeth Novena Hospital, expects to see the number of community cases further improve in the coming week, as stricter circuit breaker measures that kicked in on Wednesday begin to show results.

Observers, however, have flagged the increasing numbers of infected foreign workers staying outside of dormitories in premises such as shophouses as a concern.

The number of new cases among this group has continued to increase, from an average of 21 cases a day in the week before last, to an average of 26 a day last week, MOH said.

There were 12 such cases reported yesterday.

There were no imported cases reported yesterday. The last imported case was identified on April 17.

As of yesterday, 998 patients in Singapore have fully recovered and been discharged.

Twelve have died of complications due to Covid-19 and four who tested positive have died from other causes.

25/04/2020

https://www.edgeprop.sg/property-news/singapore%E2%80%99s-private-home-prices-fall-1-q-o-q-1q2020

Looking ahead, sales volume in 2Q2020 for both the primary and secondary markets are expected to take a plunge. Consultants are expecting a 3% to 5% contraction in private residential prices this year. The circuit breaker that will last till June 1 will also minimise market activity in April and May.

However, over the long term, Singapore’s safe haven status and stable currency are likely to garner interest from foreign buyers. Government support via the three recent rescue budgets released within two months would also help to cushion the fall in property prices, providing temporary relief for homeowners who have difficulty repaying their mortgage.

Given the worsening economic conditions, developers could be rolling out star buys and discounts to maintain sales momentum.

𝐖𝐚𝐧𝐭 𝐭𝐨 𝐤𝐧𝐨𝐰 𝐰𝐡𝐢𝐜𝐡 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬 𝐚𝐫𝐞 𝐡𝐚𝐯𝐢𝐧𝐠 𝐭𝐡𝐞 𝐛𝐞𝐬𝐭 𝐨𝐧𝐠𝐨𝐢𝐧𝐠 𝐝𝐢𝐬𝐜𝐨𝐮𝐧𝐭𝐬? 𝐑𝐞𝐚𝐜𝐡 𝐨𝐮𝐭 𝐭𝐨 𝐦𝐞 𝐭𝐨𝐝𝐚𝐲!

Desmond Lek
Hp: 92968635

Private residential property prices fell 1% q-o-q in 1Q2020, after rising for three consecutive quarters, absorbing the blow of Covid-19 on the economy