KS Property Review

02/04/2019

Thinking of purchasing that $1 million dollar investment property but approved bank loan quantum is only $300k... HANG ON A SEC❗ isn't the bank supposed loan up to 75% (750k) of the purchase price?? 🤔

Find out why with me!

☎️ Call/SMS/Whatsapp Kingston @ 9423 0181!

Every day, 99.co explains a new piece of property jargon. Today's jargon is the Total Debt Servicing Ratio (TDSR)

25/03/2019

Thinking of investing overseas because of the latest cooling measures? THINK AGAIN.

Singapore economy grew by 3.3% in 2018; enters 2019 with renewed vigour and purpose: PM Lee Hsien Loong

Our Singapore economy has always been on a constant uphill trend, needless to say, our property valuation kept going up due to the steady increase on our GDP. Singapore Properties are tagged as UNDERVALUED by BIS.

Thinking of investing in that new launch condo that you've been eyeing on? Look no further.

16/03/2019

Would you consider buying older flats (lease less than 60yrs) in Mature estates if there are more flexibility in using CPF to pay for them? 🕰️

Key Points to Note:
✅ Banks take reference from CPF restrictions when assessing how much loan to extend. As a result, both CPF and loan quantums are reduced for the purchase of such older flats"

✅"What we want to ensure is that buyers purchase flats with LEASES that are LONG ENOUGH to last them FOR LIFE.

‼️The move aims to address growing concerns among flat owners over their older flats' depreciating leases and the difficulty in selling these - partly because of the limitations placed on prospective buyers over the use of their CPF funds.‼️

14/03/2019

Summary & How does it affect you:

1.) Remission of additional buyer’s stamp duty (ABSD) for HDB upgraders.

📍 Currently, genuine buyers who owned a HDB flat who are looking to upgrade to private condos are subjected to paying the ABSD.

✔️ Proposed to provide ABSD remission so that genuine buyers of private condos do not have to fork out additional ABSD for purchase of their private condo as their matrimonial home.

⏱️ “A multitude of underlying factors such as declining new mortgage loan applications, increasing pipeline supply of private residential units, a lack of ECs on the market and rising number of HDB flats that are reaching the minimum occupation period (MOP) are timely reminders that are prompting for a reasonable cause of action to be taken,”

2.) Reversion of loan-to-value (LTV) limits for first housing loans (from 75% back to 80%),

📍 Currently LTV is at 75%.
✔️ Proposed to revise back to 80% as the current TDSR framework is robust in preventing buyers from over leveraging.

3.) Revision of the ABSD rate for locals buying a second property.

📍 Current ABSD rate for Singaporean buyers on 2nd property is 12%.
✔️ Proposed revision to 5% or 7% to push for more local investment for our citizens.

⏱️“We feel that it is necessary for Singaporeans to have the ease of comfort in investing in their own country, instead of venturing into overseas options as a ‘push factor’ due to hefty ABSD rates,”

PropNex Realty has submitted three recommendations to the Ministry of Finance and the Ministry of National Development to revise last July’s property cooling measures

14/03/2019

In the local context, people want to pass down assets to our next generation has been deeply rooted in our culture, to be able to leave something of value, make a contribution to our next of kin. With this train of thought, Freehold status has always been viewed as a premium over leasehold. Even if the capital appreciation isn't on par with leasehold properties, people find solace of owning a property that is of Freehold status.

"Freehold condos are typically sold at a premium of 10 to 15 per cent, so it can be harder for them to outperform their leasehold counterparts."

Is it a question of PRICE? or VALUE? 💵💰⚖️

Freehold or leasehold condo? This is a debate that never ends. Have a look at how the two have fared against each other this decade: