CelestHomes

16/12/2021

Straits Times 16 December : New Cooling Measures for Properties

New measures affect more on the buying of private properties. The purpose of these measures is for buyers to exercise prudence. Buy without overtaxing yourself.

Key takeaways:
1) More tax for buying multiple properties.

Additional Buyer Stamp Duty (ABSD) for buying 2nd home for Singapore Citizens increased from 12% to 17%.
PR increased from 15% to 25%
Foreigners from 25% to 35%..

Does NOT affect you if you are buying your 1st private property.

2) Monthly installment for bank loan allowed for private property reduced - from 60% to 55% of income.

3) Buyers of HDB flats who are getting their loan from HDB (instead of a private bank) will have the max loan reduced

They will have their loan capped at 85% and not 90%. This means they need to pay cash of 15% plus whatever is above valuation.

No change to HDB buyers using private bank loans, which is capped at 75% today.

How would the measures affect HDB and private home buyers?. Read more at straitstimes.com.

08/12/2021

1 December 2021 Straits Times: Property Tax Increases from 4% to 6% for HDB owners

Property tax is calculated based on annual value of rental. Due to the increase in rentals for HDB, the latter will be revising property tax rates from next year.

Not a huge increase though.

Owners of 4 room HDB and above will pay approx $21-$26 more per year from 2022.

Iras will be revising the annual value of HDB flats in line with increase in market rentals.. Read more at straitstimes.com.

22/11/2021

Straits Times 18 Nov: 960 Rochor BTO Flats Launched under Prime Area Model

These were launched recently with a new regulation under the PLH (Prime Location Public Housing) model. These BTO were over subscribed naturally despite new regulations.

Key takeaways
1) Minimum occupation is 10 years instead of 5 years for non prime location BTO. This means buyers can only sell about 16 years later as construction will be 6 years for the Rochor BTO plus MOP 10 years. This means if you are 30 years old now, you cannot sell your home till you are about 46. This also means you are unable to invest in a private property till you are 46.

2) There is a 6% clawback on the first owner's resale proceeds. This may not be significant if the property appreciates well. Looks like it has not deterred people based on the response.

A total of 4,501 BTO flats were launched for sale across nine projects in six estates.. Read more at straitstimes.com.

09/11/2021

Brand New FREEHOLD Condos, Walking Distance to MRT and TOP Latest 2022!

I am pleased to introduce - The Gazania and The Lilium !

Attributes of these 2 Developments
☑️ Both are Freehold
☑️ Both are in the Bartley Area, within 1km to Maris Stella, 2km to Paya Lebar Methodist Girls
☑️ Both are within a short walking distance to the Bartley MRT, 1 Stop to Nex Shopping Mall
☑️ Both TOP latest 2022

1 BR – From $9XX k
2 BR – From $1.3XX m
3 BR – From $1.8XX m
4 BR – From $2.4XX m

Reach out to me at 86869578 if you would to know more about buying freehold condo versus 99 year leasehold or to compare between The Lilium and The Gazania !

28/10/2021

Straits Times 27 Oct 2021: Article on 10 year MOP for BTO in Prime Locations (PLH or Prime Location Public Housing... new acronym !)

https://www.straitstimes.com/singapore/housing/subsidy-clawback-10-year-mop-for-new-prime-location-hdb-flats-to-keep-them

Key takeaways :
1) MOP is 10 years and only after 10 years can the owner rent out rooms, not the whole flat.
2) There is also a clawback of partial subsides upon selling the flat for the first time owner.
3) In addition, when selling in future, the resale buyer must meet the income ceiling stipulated in the chart below unlike current resale HDB has no income ceiling cap
4) Singles above 35 will also not be able to buy the resale PLH unlike current resale HDB where they can

Below is a comparison how PLH compares with BTO, HDB resale and Private so you can plan and see what you are qualified for and which suits your needs better.

26/10/2021

CANNINGHILL PIERS – PREVIEW 5th to 16th NOV 2021 !
Whatsapp 8686 9578 if you would like to review if it is worth buying this development or to book a Preview slot !

A development with outstanding attributes:
💎 Rare and iconic with Dual Frontage of the historic Fort Canning Hill and the Singapore River
💎 Million Dollar Unobstructed Views
💎 Direct underground access to Fort Canning MRT
💎 Integrated Development with F&B, Supermarket, Retail right at your door steps
💎 Mega Developers City Development Limited and Capital Land
💎 Internationally renowned Danish Architect Bjarke Ingels Group

https://canninghill-piers-clarkquay.com

25/10/2021

Straits Times 22 Oct 2021: Private home prices climbed at faster pace in Q3

Key takeaways:
1) Booming landed property
2) Sale of condos in the city fringe saw strongest growth
3) 700 ECs were sold making it a good 45% increase
4) As more New Condos have been sold, the number of New Condos in the market is decreasing. This will boost government land tenders and more collective sale to come.

This could be the window of time to buy a new condo if you have been considering it as new upcoming land sale prices in upcoming tenders are expected to be much higher.

Whatsapp me at 8686 9578 if you would like a review on which new condo is still worth buying into. Stay safe and God bless !

Private home prices are also feeling the knock-on effects of the red-hot HDB resale market.. Read more at straitstimes.com.

25/10/2021

Straits Times 22 & 23 October 2021: HDB prices steepest increase in a decade

Key takeaways:
1) Price increased 9.1% for first 9 months of this year
2) Median price highest for Queenstown, Toa Payoh, Clementi and Bishan
3) Demand currently outweighs supply so if you have been thinking to sell your HDB, this is a good time.

https://www.straitstimes.com/singapore/housing/hdb-resale-prices-hit-all-time-high-in-q3-steepest-increase-in-a-decade

05/10/2021

Private Property Price Index Up to Q2 2021.

* Prices continued to go up in Q2 but at a slower pace (0.8% over Q1)
* Private resale volume increased by 18% over Q1.

Buy a New Launch or Resale ? Whatsapp me at 8686 9578 for a review. Stay safe and God bless !

04/10/2021

2 Oct 2021 Straits Times Update: HDB Resale Prices Hit Record in 6th Straight Quarterly Rise

✍️ The increase was 2.7% over the previous qtr.
✍️ Resale prices has also been rising due to prolonged construction delays in BTO flats, increasing demand for resale HDB
✍️ Resale flat prices are now at the last peak in 2013 (See graph below)

What does this mean for first time buyers?
✔️ Buying resale at this point instead of BTO is a good idea too as the amount of grants available for resale flats is higher than BTO flats. Choose a resale HDB that has good selling points like its location, MRT, schools etc.

What does this mean for home owners?
✔️ For owners who had bought during the last high in 2013 and your property is getting on in years, this is a good opportunity to sell.

However, if you sell, what do you do next?
✔️ Sell and downgrade to a smaller HDB if you are intending to consolidate for retirement
✔️ Sell and move to a newer flat to refresh your lease meaning always try to own something newer as value of newer properties do not drop as fast as older HDB flats (unless the older property has good selling points like location etc).
✔️ Sell and buy a new launch condo. Meanwhile, rent or move back to your parents.

If you would like a review on what you should do next, Whatsapp me at 8686 9578 ! Stay safe and God bless !

https://www.straitstimes.com/singapore/housing/hdb-resale-prices-rise-27-in-q3-flash-data

10/09/2021

9 Sep 2021 BusinessTimes: Latest update on the HDB resale market

Key takeaways:
✍️ HDB prices rose to just 0.1% below the 2013 peak.
Then again a record 26 units of over $1M HDB transactions took place in August. (In my opinion, this may have affected the HDB price increase data.)

✍️ What's unusual this year is despite the Chinese 7th month in August, a total of 2748 resale HDB transactions took place and this is higher than in July. This continued increase in demand for resale HDB could be due to the recent BTO projected delays plus pent up demand in people wanting space after experiencing staying home more due to Covid 19.

✍️ For owners who want to cash in and right size or owners who bought high during the 2013 peak and want to at least get back to breakeven instead of a negative sale in future, this is the time to capitalize on the demand. It's a sellers' market now !

👉 If you would like to review if it makes sense to sell now but what to buy next, Whatsapp me at 8686 -9578. Stay safe and God bless 😀

HOUSING Board resale prices rose for the 14th consecutive month, climbing at a faster pace of 1.1 per cent in August compared with July, according to flash data from real estate portal SRX on Thursday. Read more at The Business Times.

30/08/2021

Want to own an address "1 Clark Quay" with a rare panoramic view of the Singapore River?

"CANNINGHILL PIERS" - A New Integrated Development along the Singapore River is targeted to launch this September/October !

🔹 Located at the Liang Court site with future direct underpass access to Fort Canning MRT.
🔹 696 residential of One to Five Bedroom Premium Apartments, Sky Suites and a Super Penthouse with rare Hill and River - Dual Frontage.
🔹Jointly developed by Singapore's two mega developers - City Development Limited and Capital Land.
🔹 Designed by internationally renowned Danish architect Bjarke Ingels Group.
🔹 Urban living at its best with F&B and lifestyle destination Clark Quay at its doorsteps.
🔹This integrated development includes a commercial component for F&B and retail outlets called Canninghill Square, a hotel operated under the Moxy brand by Marriot International and a serviced residence under the Somerset brand.
🔹Target TOP is 2026

If you are keen to more about this development, Whatsapp 8686 9578. Stay safe and God bless 😀