The Property Duo - Gerald & Pat

30/09/2022

Hottest Update!
The government has introduced further cooling measures to moderate housing demand and to ensure home buyers borrow prudently amid rising interest rates.

The package of measures announced on 29 September 2022 includes restrictions to curb loan quantum that will impact both the private residential and public housing segments.

What does the newest property cooling measures mean to the property market and to YOU, whether you are a seller, buyer or investor?

You may go through it carefully, or we are most ready to assist if you need any clarification.

Happy reading.

&pat

The loan-to-value limit for HDB housing loans will be lowered from 85% to 80%. Read more at straitstimes.com.

28/07/2022

Today US announced another rates hike, how does this affect our local domestic interest rates, such as SORA. Reckon anyone having a housing loan with a floating rate package will be concern of this.

Have you carried out a switch, by repackage or refinance to fixed rate if that is your concern?

&pat

WASHINGTON: The Federal Reserve raised its benchmark overnight interest rate by three-quarters of a percentage point on Wednesday (Jul 27) in an effort to cool the most intense breakout of inflation since the 1980s, and US central bank chief Jerome Powell said another "unusually large" hike may be a...

10/05/2022

Have you being informed or heard about setting up a Trust to own a property?

This new rule is going to affect your idea if you are thinking of that. However, it is still can be done with terms and conditions to set forth.

Let us know if you want to find out more. We do our best to help.

&pat

AN ADDITIONAL Buyer’s Stamp Duty (ABSD) of 35 per cent will be imposed on any transfer of residential property into a living trust, where the transfer occurs from May 9, the Ministry of Finance announced late on Sunday night (May 8). Read more at The Business Times.

10/01/2022

New Start of Year 2022. Our Company has a new initiative to move forward. Its always good to show a clear direction and positive energy to kick-start of the year.

🤔 Let's see what is happening.....

&pat

16/12/2021

*Property Cooling Measures in Singapore w.e.f. 16 Dec 2021*

With the sizzling hot property market in the past 1 year+, the cooling measure that was announced last night came as a surprise (or not exactly unexpected) for many of us.

👑 Keep calm, stay mindful.🍀
Before we panicked just by reading off the headlines, the finer details actually revealed that not everyone is affected.
If you do not fall under the affected groups, could this be the long-awaited opportunity you have been waiting for? 👀

A quick summary of who are not really affected Vs those who are truly hit by the ABSD changes:
😃 SC/ SPR first timers who sell/ buy for their own stay, decouple case or under trust will not have much impact.
❌ Foreigners/ Owners buying 2nd residential property (or more) will increase ABSD from 20% to 30%
❌ Risk on developers will increase significantly if they do not sell within the 5 years time frame.
Increase from 25% to 35%.

Other measures on borrowing limits:
❇️ TDSR decreased from 60% to 55%.
Impact can be marginal as a 5- point reduction is not massive.
A quick calculation with a $1m loan based on 30 years loan tenure:
- 60% TDSR: $7485 income required
- 55% TDSR: $8166 income required
Difference in income required is $681 more (for every $1m loan).

❇️ HDB loan fell from 90% to 85%
😃 No impact on HDB buyers going for bank loan as it remains at 75% LTV
😃 HDB buyers on HDB loans will need to fork out slightly more cash/ CPF

I reckoned that the impact will not be huge, but more of reining in investors on 2nd property purchases and balancing developers aggressive enbloc bidding in the coming wave.

There is no need to panic just yet if we understand a little deeper. ☕️

09/11/2021

With a better week to week infectious ratio. Here the MTF relax the dine out rule, which benefit family like me. I reckon there are families looking forward to it. these few weeks, i have seen families like mine dining out and sitting separately.

Let's continue to observe the safety measures and quickly bring the numbers down. So our year end seasons can feel much more festive.

Stay well and be safe. 😷

&pat

The group size for social gatherings will remain at two persons.. Read more at straitstimes.com.

04/11/2021

Wishing all Hindu friends & family a Happy Deepavali!
May millions of lamps illuminate your life with endless prosperity, health and wealth forever. 🙂

&pat

28/10/2021

New Announcement from our MND & HDB of Prime Location Housing (PLH). Its a new category of HDB flats located in Prime Area. So far 2 areas mentioned under PLH are the upcoming Rocher BTO flats and Greater Southern Waterfront. With the new rules of applying such flats, you have to seriously consider whether such flat will meet your needs.

As first most important is that the MOP (Minimum Occupation Period) has been increased from 5 to 10years for such flats, means you have to physically occupy the flat for the next 10years before it can be resale. Next, you can't rent the flat out even the MOP is met. Other criteria was mentioned as well.

Do carefully plan it out if you intend to apply for such flat when HDB launches it in Nov 2021.

&pat

Resale buyers of these flats must have a monthly household income of not more than $14,000, among other criteria.. Read more at straitstimes.com.

01/09/2021

🎖286C Toh Guan Road🎖

Massive Executive Apartment 144sqm For Sale
BEST estate in Jurong East (Singapore 2nd CBD)!
Enjoy the ultimate convenience of amenities, transportation network and connectivity! 🤩

The future proud owners can look forward to:
✔️ Spacious and squarish layout with the option to have 4 proper bedrooms if required
✔️ Quiet and peaceful facing without traffic and MRT noise
✔️ Surrounded by nature and greenery
✔️ Bright and breezy. Clean and well maintained

🚇 TRANSPORT & LOCATION 🚏
• Mere 3 mins walk/ 350m from upcoming Toh Guan MRT station (JE4)
• About 10-15 mins walk to Jurong East MRT station, Westgate, JEM, IMM, JCube, NTFGH, Jurong Regional Library
• Multiple buses to current Jurong East MRT/ Bus Interchange are only 3 stops away
• Easy access to PIE and AYE

🌆 AMENITIES
• Sheltered walkway to nearby coffee shop and multistorey carpark
• Wet market (Yuhua market & food center)
• Spoilt for choices with IMM, Westgate, JEM, JCube and 24 hours eateries food center. Giant and NTUC Supermarket are in close proximity
• Pre-school within 10 mins walk: Learning Vision, Caterpillar, My First Skool, Ace@Work, PCF Sparkletots and Star Tots Playgroup

Ethnic quota is open to all races.
House proud owner who maintained the premises very well.
Good and neat immediate neighbors are equally important! 🏡

View to appreciate.
PM/ Call for details & an exclusive viewing.

&pat