Matyn Realty Solutions

09/11/2023

So much hate on Yishun 😅 But having studied in Yishun itself, I can definitely agree it's a sleepy neighbourhood. URL for the article below:

https://mustsharenews.com/yishun-least-desirable/

05/10/2023

936 Hougang St 92
Room Rental

- Asking 1.5K
- Weekly Cleaning Service included
- Located in front of Hougang 1
- Available immediately

If interested, PM me at 81331940!

06/09/2023

Don't mistake my position. I agree that some people don't mind staying longer due to personal choices such as convenience or retirement, but I feel it's in the minority.

"It's a bit different from having a 5 year MOP & the owner decides to live there for 10 years or more and flip. Versus the authorities coming down from up above and say that 'no, now your MOP is 10 years,' ... There's a fundamental difference here, "
- excerpt from Nicholas Mak, Mogul.sg

Most are forced to accept the new conditions, and many prefer to sell it as fast as possible to earn from their purchase and use the funds to upgrade, improve their housing or social strata, etc. If you can make 100K of profit in 5 years, would you be okay with waiting 10 years instead to realize that same profit? CPF Accrued Interest needs to be taken into account as well (since the majority of people use CPF to fund their mortgages).

"There is also a selection bias here because you see, the people who actually accept the 10 years MOP and get surveyed, well they accepted the 10 years MOP... Because those who refuse the 10 years MOP... they are not in the survey in a way because they didn't select the flats, they didnt buy the flats."
- Excerpt from Nicholas Mak, Mogul.sg

So effectively next year, BTO applicants who wish to be near amenities are penalised with a longer wait, higher CPF Accrued Interest to return, a clawback & high competition for units with no option to rent the house out?

Because they opted for convenience?

What do you feel about this? Write down in the comments below!

Watch the video with the link below! https://youtu.be/q7vt7Q1NO6M?si=nC-lb0BiImrTBC21

All images are from CNA.
All rights reserved by CNA

04/09/2023

A notable case highlighted a flat's significant value growth, akin to equities. However, the government's introduction of Prime and Plus BTO flats with restrictions on resale prices is changing the game.

Buyers face two choices: opt for cheaper Standard flats or choose Prime or Plus flats with potentially lower returns due to government restrictions.

Lee Sze Teck, a senior research director, notes that while these measures may stabilize the HDB market, they could also widen the wealth gap. More people are relying on intergenerational wealth transfers to move up the housing ladder.

Traditionally, Singaporeans moved up by selling HDB flats and investing in condominiums. Cooling measures and higher interest rates are altering this pattern.

In conclusion, potential flat buyers must weigh the value of prime locations against potential returns. Predicting returns is tricky due to possible income ceiling changes, but the government aims to keep these homes affordable, even if they offer fewer returns. These flats may instead become permanent homes for their owners.

What do you think about the situation?

All rights belong to BT.

03/09/2023

Located close to Yew Tee MRT, Blk 674A Choa Chu Kang Crescent is close to many schools and amenities in the area!

Seeking a tenant for 2 years or longer, this unit is available to all profiles, from young couples to large families. Young kids seeking to enter primary schools in the area are likely to achieve a higher likelihood of entering due to the proximity as well.

With no landlord staying with you, this unit provides total privacy to you & your loved ones as well.

Asking rental: min. 4.4K (negotiable)
Furnishings: Partial
Available Immediately: Yes
Air-conditioning: Yes
Total privacy: Yes

Contact me at 81331940 today to enquire!

27/08/2023

Was just asked about what the effects of the new classification system will do to the resale HDB units by a friend. I'm glad to see that the article has similar views to mine!

All pictures & article owned by ST

https://www.straitstimes.com/business/invest/hdb-flats-new-classification-standard-plus-prime-could-raise-resale-demand

18/08/2023

Attended a business owners networking today for the retail, F&B, and service industry. Met a lot of new faces, and I'm very thankful to have been invited!

17/08/2023

Met Dzulkifly, founder of Adam Explorer, for our monthly meetup to share our ideas and run scenarios.

29/07/2023

Oversaw the handover of my tenants first thing today! May their tenancy be comfortable and prosperous!

Check out ThePropertySuits's video.

24/07/2023

Core inflation rates are projected to go down to 3% for the whole year. This is great news for most as it relates directly to food prices & retail goods.

However, note that housing prices and electrical & gas prices are still rising, albeit at slower growths. It is little comfort to most people, be it to the lower wage workers to the investors. In the past couple of years, it has been spiking sharply as expected due to the economic situations coupled with the COVID pandemic. But percentages are just that. A 3% jump in food prices, say a $5 meal, is equivalent to $0.15. But 3% spike for a 4-room HDB at $600K or a shophouse at $5 million is $18,000 & $150,000 respectively. Does your income or savings climb at the same rate? This is not to mention the government changes in ABSD rates, TDSR rules, etc.

On the other hand, most property owners love their homes. They believe that their homes are as valuable to their buyers as it was to them. And I don't blame them. Particularly when you've a good unit with nice views, a high floor, amenities, etc. This will convince them to sell at high prices, for good reason of course. Not that I'd blame them. I would, too. But we'd be slow to move with the market. Even when indicators show a slowing down or an incoming crash, we'd stall, believing buyers will come eventually to match our asking price. The same applies to landlords asking high prices even though the demand may not be as strong as it was during the height COVID, with some doubling the rates.

So, at the end of the day, are we folks really benefitting temporarily, or will the House always win when statistics are just numbers splashed on a page?



All rights to articles reserved & credited to:
Straits Times, Business Times

21/07/2023

The Ministry of Law (MinLaw) and Singapore Land Authority (SLA) have recently removed the 'commercial & residential' zone from their list of land use zones. This decision was made to better align with the Residential Property Act (RPA) and safeguard residential land for Singaporeans. The change came into effect on July 20, 2023.

As a result of this removal, any foreign buyer, whether an individual or entity, interested in purchasing land or property previously zoned as 'commercial & residential' must now apply for approval under the RPA. However, existing foreign owners of such properties are exempted from seeking approval if they plan to retain the property without any redevelopment.

The 'commercial & residential' zone has been replaced by seven new land use zones: 'Business 1,' 'Business 2,' 'Business 1 – White,' 'Business 2 – White,' 'Commercial/Institution,' 'Reserve Site,' and 'Special Use.' These new zones typically do not permit residential use.

Mixed-use developments that were formerly categorized under 'commercial & residential' zoning, including properties like Bukit Timah Plaza/Sherwood Towers, Katong Shopping Centre, and Sixth Avenue Centre, could be impacted by this change. Many of these properties were built in the 1970s and 1980s and are currently undergoing collective sales attempts.

Foreign developers seeking to acquire collective sale sites for redevelopment will now need to seek approval similar to the process under the Qualifying Certificate (QC) scheme. Additionally, shophouses and small mixed-use developments with 'Commercial & Residential' zoning may also face implications as foreign investors are required to pay higher additional buyer's stamp duty (ABSD) on the residential component, which has increased to 60% from April 27, 2023.

In conclusion, these changes aim to regulate land use designations more effectively, align with the RPA's objectives, and enhance residential property management in Singapore.

Check out ThePropertySuits's Story.

13/07/2023

Just finished a rental viewing at Zedge with my client!

Looking for a rental place or to rent out your unit? Contact me at 81331940 today!

Check out ThePropertySuits's video.