211 Choa Chu Kang Central, D23, 4 Room Flat – Bidding HiLite

Peace and quiet, great views, nearby schools and an MRT just a few minutes away; These are some of the key things people look for in a great property, and there aren’t many of these around, especially if it’s an HDB!

Well here is a unit which ticks all those boxes, and it’s actually going for bidding soon! The seller, Mdm Tan, took 2-years to find the property, and she’s convinced that there is no other like it in all of Choa Chu Kang!

19267-map

Nestled just one stop away from Choa Chu Kang MRT and just minutes from schools like Pioneer JC, Chua Chu Kang Primary/Secondary, and South View Primary Schools, this unit will definitely appeal to families with children attending those schools or families who simply love the area!

Other nearby amenities include a library, some supermarkets, cinemas, plenty of food options, and 2 Community Clubs, Choa Chu Kang CC and Keat Hong CC. The Community Centres offer some pretty good services too; For example, Keat Hong CC has a 24-hour gym (GYMM BOXX) and an 18-lane bowling centre with health services provided by the MOH and National University Health System.

Top floor corner unit with purchasable recess area/garden

19267-1

While not the best pictures to show the space, you’ll realise the great potential the recess area can bring. HDB allows you to enclose the entire area with grills and extend a gate to the front of the area, giving you your own private walkway for a garden, hanging clothes for drying or simply storing shoes!

Ideal for a Luxurious Re-Design

19267-2

This unit has large square-shaped rooms, big toilets, and several knock-able walls. Look past the clutter and mess and you’ll start seeing how you can easily turn this unique unit into a luxurious haven.

For example, the spacious but outdated bedrooms and bathrooms can be turned from this:

19267-3

Into this:

19267-4

The possibilities are endless! For the source of the interior design images used above and other inspiring designs, check out the original article from one of our content partners, Qanvast, here.

Great layout with an unblocked view

19267-5

This unit offers some of the best views in the block, both during the day and night.

Here’s a video walkthrough done on the seller’s premise to give a rough idea on the layout and space of the apartment (the video gets a little shaky).

And here’s the floor plan layout of the house for your reference:

19267-floorplan

Going, Going, Gone

This property is going up for bidding on Truuue starting on Saturday, 18th March, 12pm noon, and you can make a bid at: https://www.truuue.com/listings/hdb/19267?hilite=1

View It Now

Viewings will be hosted by the seller directly on the following days:

  • Fridays (24th & 31st March & 7th April): 8pm – 10pm
  • Saturdays (25th March, 1st & 8th April): 8pm – 10pm
  • Sundays (26th March, 2nd & 9th April): 12pm – 2pm

So don’t hesitate, you can call Mdm Tan directly at +65 8619 8398 to arrange for a viewing or find out more!

2 key updates to HDB grants in 2017 and what it means for HDB buyers

New year, new Budget. So what’s in store for us this year from the Budget 2017 announcement? Let’s look at some of the best and worst things for HDB buyers and sellers from this year’s budget announcement.

To those who have seen the announcements, I’m sure you will agree that some of them did not get us too excited (like the 30% increase in water prices coming over two phases). That being said, there actually are several other initiatives which do bid well for many Singaporeans. Naturally, we’ll be drilling into the property-related ones; Specifically the updated HDB grants and what it means for us HDB buyers!

Let’s begin by looking at the changes, best summarised here in this nifty infographic:

16804272_1616415428385337_2245232026473092528_o

Basically, Finance Minister Heng Swee Keat announced yesterday (20th February 2017) that CPF housing grants would be:

  • Raised from $30,000 to $40,000 for first-time couples looking to buy 5-room or larger flats on the resale market.
  • Raised from $30,000 to $50,000 for first-time couples looking for 4-room or smaller HDB flats on the resale market.

Likewise, grants for first-time single buyers will go up proportionally:

  • From $15,000 to $20,000 for those planning to purchase 5-room or larger resale flats.
  • From 15,000 to $25,000 for those purchasing 4-room or smaller resale flats.

In combination with the Proximity Housing Grant of $20,000, this now means that some couples can receive up to $110,000 in subsidies from the government when purchasing their first HDB! You can find out the breakdown of that calculation over here.

HDB1

What does this mean for HDB buyers?

The first question asked by a number of buyers on our platform was: “Are HDB resale prices going to go up?”

Well based on the current inputs from our partner agents and other industry experts, the general answer is: “Unlikely”. While it’s definitely a possibility, a sudden surge in HDB resale prices is probably not going to happen, and we have gathered some reasons why:

  1. While the increase in resale grants are enticing, a number of first-timers will still prefer to try for a Build-To-Order (BTO) flat first.
  2. There is still a decent supply of resale units on sale, meaning that unless sellers across the board raise their prices together, buyers will still be able find other similar properties at the right price from other sellers.
  3. Not every couple will be able to access the maximum value of the grants because of their existing income range and/or other factors
  4. Some buyers may still have insufficient cash for their down-payment on a new home. Note that the larger grants are not cash grants and hence buyers will still need to pay the minimum 5% in cash if they are using a bank loan!

Great, so what is going to happen?

If you’ve been looking to buy a resale HDB home but have always been just a little short, then now is the time to take stock of your purchasing power! With the new boost in HDB grants, the extra $10,000 – $20,000 might just be enough for you to make a compelling offer on that unit you have been eyeing!

Looking at data around the latest round of BTO applications as at 20th Feb 2017, applications for 3-room and bigger flats were over-subscribed by almost 3 times! This means that a number of willing buyers may not actually be able to get the BTO home they desire.

BTO applications Feb2017

 

But no fret, as there are a range of beautiful resale HDB homes in mature and non-mature estates which are likely to appeal to a wide range of buyers. If you’re not adamant on getting a BTO flat, why not start looking for a nice resale flat as well?

An easy and cost-saving option to do so is by relying on our Relationship Manager (“RM”) service to save time and money while finding your desired property. By using Truuue’s RM service, you will instantly get access to the following benefits:

  1. Automated search and constant updates of relevant listings across multiple platforms which meet your criteria
  2. Get connected with your own Relationship Manager for guidance, help with questions and independent insights
  3. Complete access to the Truuue platform throughout your entire home buying journey
  4. Get accompanied to home viewings by licensed agents for added assurance, if needed
  5. Paperwork and documentation services when you successfully purchase your resale HDB flat

The best part for our readers is, for a limited time only we are making it FREE to sign up for the Truuue RM service

Start Engaging Truuue RM

So go on, give it a shot and let us know what you think, and stay tuned for more articles and updates coming up!

 

Written by: Jason from Truuue

– – –

Truuue is an online real estate transaction platform which aims to make transactions simple and seamless. The team at Truuue believe in building technology which empowers people to make property deals happen easily and efficiently, and providing the services to guide our clients through every step of the home buying and selling journey.

Buying an HDB flat? Make sure you know these 2 loan options [Infographic]

Written by: Ted Chong from RedBrick Mortgage Advisory & Jason from Truuue

 

Currently in Singapore, 80% of the resident population occupy HDB flats, and interestingly, 90% of these flats are on an ownership basis. While the Housing and Development Board of Singapore was initially set up to deal with the unsolved housing crisis in the region, HDB now constructs public housing towns that provide superior quality houses and living ambiances to Singaporeans.

hdb-image2

Buying an HDB flat for the first time can be an intimidating experience. It’s probably the first big ticket purchase in your life that will take the next couple of decades to pay off, so you’d definitely want to rake in as much savings as you can.

 

Perhaps you haven’t really thought about what kind of loan to take up. If you don’t already know, you can mainly choose between 2 options: taking up an HDB loan or taking up a bank loan, as long as you are eligible for it. Making this decision generally depends on a few factors:

 

1. Interest Rates: You might want to hold on to your cash and pay off your home loans using your CPF, but did you know that taking up a bank loan allows you to pay less interest? This is because bank interest rates are lower as compared to the CPF Ordinary Account (OA) interest rate which home loans are pegged to.

2. Down-Payment: The down payment required to take up a bank loan may be higher – at 20%, with at least 5% paid in cash, as compared to an HDB loan which only requires 10% down payment, fully payable with your CPF – you get to enjoy greater flexibility in retaining your savings in your CPF OA. Conversely, upon the collection of keys to your new home, HDB will wipe out your CPF OA balance to reduce the loan quantum required for you to service.

3. Cash Requirements: As noted above, taking a bank loan will require you to put up at least 5% of your purchase price in cash. Compare this to an HDB loan which allows you to make your entire 10% down payment with your CPF.

 

Confused? Don’t worry. Here’s an infographic for you where we run through the main factors to consider while taking up a home loan for your HDB flat, and the main differences between taking up a HDB loan and a bank loan.

home loan guide infographic

To find out more about taking up a bank loan vs. an HDB loan, refer to this full guide at http://www.redbrick.sg/blog/home-loan-singapore-ultimate-guide/

 

And if you’re having difficulty finding the home you want, you can always rely on Truuue’s Relationship Manager (“RM”) service to save time and money while finding your desired property. By joining Truuue’s RM service, you will instantly get access to the following benefits:

  1. Automated search and constant updates of relevant listings across multiple platforms
  2. Access to your own Relationship Manager for help and guidance
  3. Assistance with the Truuue platform throughout your entire home buying journey
  4. Get accompanied by a licensed agent to home viewings for added assurance, if needed
  5. Paperwork and documentation services for HDB purchases

The best part for our readers is, for a limited time only we are making it FREE to sign up for the Truuue RM service

Start Engaging Truuue RM

– – –

Truuue is an online real estate transaction platform which aims to make transactions simple and seamless. The team at Truuue believe in building technology which empowers people to make property deals happen easily and efficiently, and provide the services to guide our clients through every step of the home buying and selling journey.

 

The team at Redbrick Mortgage Advisory has more than 60 years of banking experience and is proficient in structuring and sourcing for the best financing terms for both residential and commercial real estate in Singapore, Malaysia, USA, UK, Japan, Thailand and Australia.

 

Christmas Reflections: What is the real problem in our property market today?

By Kuah Boon Teck, Co-Founder / CEO, Truuue

 

It’s almost Christmas! Also known as that time of the year to reflect on what one has accomplished over the past year and set the goals for the next year.  I thought that I should also take this opportunity to reflect on what I have learnt on the Truuue.com journey and the path forward.

christmas-present-house2

 

Since joining the Truuue team full-time, I have had the opportunity to speak with many agents, buyers, sellers and property developers.  Interestingly, almost everybody agrees that there is a fundamental problem with our property market today, beyond the uncertainties of our economy and the cooling measures.  Instead of an open marketplace where buyers and sellers transact efficiently, it is now an exasperating game with ineffectual rules.  The unfortunate result is that many potential market participants are frustrated and sitting on the side-lines.

 

Estate agencies and their salespersons (aka property agents) are the primary players of this game and unfortunately bear the brunt of the blame.  But this is hardly fair.  The agents are squeezed by higher costs of advertising, lower commissions and decreasing transaction volume.  Naturally, survival instincts kick-in, which leads to detrimental practices by some agents.

 

Sadly, the responses of Sellers and Buyers to the adverse market conditions aggravate the problem.

 

Sellers are generally pleased that agents are willing to accept lower commissions to get their listings.  But they do not lower their expectations!  They get disappointed if the agents do not invest the appropriate marketing dollars or only deliver ‘low balls’ offers.  Disappointment often leads to distrust and then stubbornness at the negotiating tableIs my agent working hard to get me the best price, or staging the offers to get me to change my negotiating position?

 

On the other side, buyers are frustrated by the efforts needed to scour through the available listings.  Listed prices are unjustly high, and the sellers do not seem genuinely willing to negotiate.  Also, the agents seem to have an agenda.  Is my agent working hard to find me my dream home or maximizing his commissions?  Weariness sets in, and then a retreat to the side-lines.

 

Weary buyers and distrustful sellers want to have more control over the property transaction journey.  Why can’t I speak with the buyer directly?  Where are those great deals that everybody is talking about?  Unsurprisingly, agents worry about their clients bypassing them and so protect their livelihood by managing information flow.

Are we in a vicious downward spiral?

downward-spiral

 

No, I believe that the situation will change because the stakeholders inherently want to do the right thing.  We recently conducted a survey of property buyers and got some surprising results.  Specifically, majority of buyers are agreeable to ‘fair’ prices (where both buyers and sellers are happy) during negotiations.  And less than half of buyers initiate negotiations with a low-ball offer. Here are some of the results:

 

real-estate-problem2

 

real-estate-problem3

 

Interestingly, the stakeholders whom I spoke with share a rather similar vision for the future of our market.  It is one where professional agents provide higher-value added services to their clients using IT solutions, and where the buyers/sellers are also empowered with the right tools to manage their own journeys.

 

For me and the team at Truuue, we see a future where trust is established upon transparency, and pricing is determined through market efficiency.  I sincerely believe that our property market is reaching a turning point and a disruptive change is just around the corner.

 

What do you think?  Share your stories and reflections.

 

 

Yours Truuue-ly,

Kuah Boon Teck

Co-Founder / CEO, Truuue

Shophouses in Singapore – A Quick Update

By Paul Gostelow, Senior Associate Group Director, DWG

 

Capital values for shophouses have risen very steadily given the scarcity of supply and growing enthusiasm demand from funds, foreign and local astute investors.

While there has been headline news dominated by mind-boggling commercial sales here, the humble conservation shophouse market has also had its fair share of exhilarating activities, with overall transactions value surging from S$60 million in the 1st Qtr to S$191m in the 3rd Qtr of 2016. Since January 2016 to 02 November 2016, there has already been more than 80 transactions with escalating sales prices [1]. While the residential market is now a pale shadow of itself, deals in shophouses have improved significantly and are fast emerging as one of the most attractive prospects for investors confronted by dwindling investment opportunities in a lacklustre local property market.

 

paul-gostelow-chart

The prices of shophouses have remained resilient and have seen an overall increase in capital values in choice locations. Prices in the Central area & in Little India have remained firm, defying expectations of price weakening, with some transactions even setting new benchmarks in the aftermath of the Total Debt Servicing Ratio (TDSR) adjustments [2].

 

Shophouses still and will always have their attractions. Funds & Ultra High Net Worth (UHNW) investors, mainly foreigners, are among the main prospects. Investors switching from the residential segment, which has been badly hit by the 8 cooling measures, can also find commercial shophouses a very alluring alternative. They are not only sought after for their heritage value but also for their capital appreciation.  Additionally, investors are often presented with the opportunity to enhance the value of these properties through refurbishment or by the augmentation of the floor area via rear extension.

 

singapore-shop-houses

 

For foreigners looking to own landed property here in Singapore, conservation shophouse present a “Not-to-be-missed” opportunity as there are no ownership restrictions and no Seller’ Stamp duty (SSD) nor Additional Buyer’s Stamp Duty (ABSD) for commercial shophouses – making it a property investor’s haven.

 

There is also a surge in demand from end users looking to purchase and occupy a shophouse to operate their own business instead of renting it out. Designed with a distinctive facade, possessing unique charm and steeped in history, these properties are a “Limited Edition” asset class to have.

 

For the above reasons, it is believed that shophouses will continue to be highly sought after by the savvy, discerning and Investors.

 

Contributed by:

Paul Gostelow

Senior Associate Group Director, DWG

Interested in viewing Shophouses? Check out some of the shophouse listings on Truuue here:

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shophouse-princep-street

shophouse-serangoon-road

 

You can also do a quick search of all the shophouses on Truuue by clicking here

 

References:

[1] Source: All Shophouse, Squarefoot.com.sg
[2] Changes to TDSR rules: 6 things you need to know – Straits Times, 2nd September 2016 – www.straitstimes.com/business/property/changes-to-tdsr-rules-6-things-you-need-to-know

3 Creative Strategies for Investing in Singapore Properties

An Interview with Rayney Wong, a Veteran Property Investor

 

rayney-truuuepic

In property purchasing, how you legally position owners and the properties can often have a distinct difference in how tax is calculated. Many have been asking us to share some common arrangements that buyers have been using in property transactions.  Truuue’s Jason Mah interviewed Mr Rayney Wong, a veteran in real estate investment and legal counsel to Truuue to discuss some of these practices.

– – –

JM: Rayney, real estate tax in Singapore is tightly legislated, our readers are interested to know how tax planning can aid in their property investment. How important is tax planning in real estate?

RW: Due to the high taxation in Singapore in property investment and the many cooling measures, buyers/sellers have found that good tax planning often results in substantial savings for the parties.

 

Decoupling

JM: We have heard of owners “Decoupling” their properties. What is this and can you explain a little more about it?

RW: Decoupling is effectively a part share sale and purchase of a property whereby an outgoing co-owner sells his/her share of the property to his/her remaining co-owner, resulting in the property being solely owned by the remaining co-owner.

JM: How does this help in tax planning?

RW: In this way, the outgoing co-owner is freed up (means zero count of residential property), and will be eligible to purchase another property as his/her first property without having to pay Additional Buyer’s Stamp Duty (ABSD) (if he/she is a Singapore citizen).

In addition, the Loan-to-Value (“LTV”) limits for individuals who have no outstanding housing loan is at 80% or 60% (if loan tenure is more than 30 years or extends past age 65), with minimum cash down payment at 5%. Comparatively, if the owners had not “decoupled” and had an outstanding housing loan, the LTV limit would have been lowered to 50% or 30% (if the loan tenure is more than 30 years or extends past age 65), with minimum cash down payment raised to 25%.

rayney-decouple1

JM: What are factors buyers need to consider before “decoupling”?

RW: Well, owners must consider various legal issues before they proceed to “decouple”.  For the outgoing co-owner, factors to consider include Seller’s Stamp Duty (SSD) liability, bank’s penalty charges for breaking lock-in period and legal costs and expenses.  For remaining co-owner, there are various issues to consider such as new SSD liability, loan eligibility, ABSD liability (especially, if they have multiple homes), the usual Buyer’s Stamp Duty (BSD), funds available for the part-purchase and of course legal costs and expenses (which is the least of their worries as this is minimal as compare to the others).

 

Buying under a Trust Fund

JM: That sounds like quite a bit to understand. How about those families that choose to buy properties under trust for the benefit of their child or children? Is that better?

rayney-trust

RW: Well, there is no such thing as which is a better choice.  What is best for you may not work well for anyone else. Trust arrangement works only if the buyer is cash-rich.  For purchase of properties under trust arrangement, the buyer is not allowed to take any financing nor can CPF savings be used.  If parents purchase a property under trust for the benefit of their children, then the profile of their children is used to determine the applicability of ABSD.  In most situations, children do not have any count of residential property, and as such ABSD is not payable (if children are Singapore citizens).  However, parents must understand that with this trust arrangement, parents are having only a legal ownership of the property, and their children have the beneficial interest of the property and are the true owners of the property.

 

Inheritance

JM: I hear that some families also pass along property via an inheritance.  What is the difference there?

RW: Acquisition of property via inheritance is not subject to any payment of stamp duties, regardless of the count of residential properties a beneficiary may have.

JM: Sounds like estate planning for the rich.

RW: There is more to it than just inheritance.  Inheritance only happens when a person passes away.  What if a person is seriously ill and not able to take care of himself and his properties?  What if that person grows old and loses mental capacity?  What will happen to him and his properties in the circumstances?

Estate planning is not just for the rich.  A person may only own a HDB flat and a POSB savings account.  If he/she does not plan well, what will happen to him/her if he/she dies, falls seriously ill or loses mental capacity?

Our Government has been encouraging more Singaporeans to plan ahead to protect their own interests.  I would say proper estate planning includes:

  • making a Will (which takes effect only after a person passes away) to appoint an executor, decide on beneficiary or beneficiaries and other matters such as guardianship of children;
  • executing a Lasting of Power (which takes effect only if a person loses mental capacity) to appoint a trusted person to decide and act on behalf in the event of mental incapacity; and
  • if and when necessary, making a Power of Attorney (which generally take effects when a person is alive, of sound and and not an undischarged bankrupt) to appoint a trusted person to handle transactions relating to properties, such as sublet, sale and general management.

rayney-lpa

 

JM: Thank you so much for answering these questions on some possible ways property buyers can creatively plan for their investments.  I think it will be interesting to our readers. Last but not least, I know you have a book called “Last Wishes” that helps Singaporeans with financial, will and funeral planning.

RW: You are welcome. Always a pleasure to work with Truuue. Yes, the book is co-written by myself, Alfred Chia of SingCapital, Darren Cheng and Jenny Tay of Direct Funeral in hope that Singaporeans can be more prepared in these areas. You can purchase it in most major bookshops.

JM: That’s great. I’m sure our readers will look out for it.

 

 

Author

In practice since 1984, Rayney has amassed more than 30 years of experience in the property domain covering conveyancing law and litigation. He is also the author of Best-Seller “Secrets of Property Millionaires” and deeply passionate about sharing his professional and personal experience in property investment.
This interview excerpt was created for Truuue following Rayney’s discussion around “Creative Strategies in Property Investment” at Truuue’s D15 event.
You can reach him at 9668 1737.

 

Looking to find great deals on properties? Check out some of the latest properties up for bidding on the Truuue platform, all open for viewing now!

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Should you buy a Landed Property in the East?

by Paul Teo, Leader, Trainer, Top Achiever of OrangeTee

Did you know that only 23% of all private home properties in Singapore are landed homes. In this article, we look at some landed property trends and where the demand for your landed homes may be.

 

Demand for Landed Homes in District 15 and island-wide

Although there are fewer landed transactions than non-landed transactions by nature, the number of transactions last year in District 15 for ‘Terraces’ went up by almost 40% while ‘Detached’ house transactions went up by 56%. Transaction volume for Semi-detached homes on the other hand, dropped by 20%.

D15 landed transactions 2014-2015

* Figures include strata landed. Source: Orangetee.com

This is not purely dependent on the economy, but the availability of units for sale and other market factors.

All landed properties

Source: All Landed Properties, Squarefoot.com.sg

If we took a look at the whole Singapore landed market over the last 5 years (from Jan 2010 to Dec 2015), the number of transactions have dropped drastically beginning late-2011, with a brief resurgence in 2012 before dropping back down from 2013 onwards. That being said, the average price of transactions have gone up and are maintaining at over $1000psf over the years.

It may well have been a combination of the cooling measures and accelerating prices causing a reduction in property sales, but this movement in the market has certainly reduced the amount of speculation in landed properties and we see more buyers now making purchases for their own stay and a long-term investment.

 

Detached, Semi-detached and Terrace Buyers

A look at the data for different landed sub-types over the last 5 years show that lower-value Terrace houses typically transact 3 to 4 times more frequently than detached or semi-detached homes. Furthermore, the most expensive detached houses have price variances which are more drastic each month. This pattern is expected as the higher the value of your property, the fewer potential buyers for your property there will be and the longer the typical sales cycle. So, buy with this in mind and set your expectations right when selling.

All detached houses

Source: All Detached Houses, Squarefoot.com.sg

All semi-detached houses

Source: All Semi-Detached House, Squarefoot.com.sg

All terrace houses

Source: All Terrace Houses, Squarefoot.com.sg

As a rough gauge, the landed sub-types generally transact in the following price range:

  • Terrace ~ 2 to 2.9m
  • Corner Terrace ~ 3.5 to 4m
  • Semi-detached ~ 3.5 to 6m
  • Detached ~ 6 – 10m

Terrace homes are typically purchased by HDB or Condo upgraders or Semi-detached as well as detached home owners looking to downgrade. Semi-detached homes are mostly bought by buyers who currently own Terrace homes and whom may also complete with Semi-detached owners for that upgrade to a Detached home.

While most homes in the past were transacted privately, an increase in the popularity of mortgagee sales and auctions have made it a very competitive market to play in. However, this does not stop avid land investors from looking for their next jump.

However, buying and selling of landed property is a large and emotional commitment. Even with many non-landed properties being more affordable and accessible, there will still be a distinct group of buyers who love to own their own piece of land.

Zooming into District 15, the Marine Parade area has an abundance of landed homes and has always been a favoured landed property location. It will continue to be blessed with buyers looking to be close to:

  • Good schools
  • Lifestyle amenities
  • Improving Infrastructure and accessibility to city

Remember that while sellers will always look for change in tune with their stage of life, matching buyers is another story. In a time when volatile market conditions make owning an asset a more secure investment, buyers must still remember to evaluate risks and opportunity costs in order to buy with wholehearted confidence.

Choosing the right property has always been a little of gut and a whole lot of numbers. But in the end, a perfect home is more than an investment and will be worth it all.

Happy buying and selling!

 

Author

Paul heads up online knowledge space Singapore Landed Property (www.sporelandedproperty) with Francis Low.  As a real estate professional, he empowers his clients with knowledge to help them make better decisions on their properties. His vast experiences have helped his clients to make the best out of their own stay or investment properties.

This article was created for Truuue following Paul’s talk Developments in D15 that will enhance value (other than the Thomson-East Coast MRT line) at Truuue’s D15 event.

Disclaimer:

The information, materials and view in this sharing are not tantamount to provision of any legal advice nor representation. All case study are personally handled by Paul Teo and its only to be use as reference guide.

Paul Teo had made reasonable efforts to ensure that the information provided is accurate at the time of print. 

No materials and information can be reproduced without the prior approval from Paul Teo. Paul Teo is an independent salesperson from Orangetee.

Any tips, information and sharing do not represent Orangetee.com Pte Ltd

 

You can reach him at paul.teo@orangetee.com.

 

References:
Property home transactions
By Squarefoot Research
https://www.squarefoot.com.sg/trends-and-analysis/market-trends

New Developments Enhancing the East District

By Robin Ooi, KEO of GoProp Realty

A quick 15 minutes from the airport with an abundance of local and food from all parts of the world, District 15 has always been valued by expats for breezy, spacious yet reasonably priced homes.

Truuue’s last article District 15 Is Popular, But What Do The Numbers Say? may have showed you some major trends in this area, but let’s take a closer look at some of the up-coming changes that will make a property in D15 even more valuable in the future.

 

Greater Connectivity and Reliability of Public Transport

LTA’s vision is that by 2030, Singapore will have:

  • 8 in 10 households living within a 10 minute walk from a train station;
  • 85% of public transport journeys (less than 20km) completed within 60 minutes; and
  • 75% of all journeys in peak hours under taken on public transport.

Singapore’s Rail Network will more than double from the current 178km to 360km in 2030.

LTA's Land Transport Master Plan 2013

Source: LTA’s Land Transport Master Plan 2013

For easterners, the Downtown Line (DTL) will be extended to connect to the East-West Line and Eastern Region Line to better serve commuters in the eastern corridor, giving commuters an alternative route. The $6.8b 9-station extension of Thomson Line, extending from the recently announced Thomson Line (renamed to the Thomson-East Coast Line (TEL)) will also provide access to East Coast Park by 2024. This TEL line, “parallel” to the East-West Line together with the future Downtown Line 3, is estimated to increase rail capacity along the East-West corridor by about 45%.

Thomson - East Coast Line (TEL)

Source: LTA

The first of its kind in the world, a 4-in-1, 36 hectare depot will be built, passing through Tanjong Rhu, Katong Park, Amber, Marine Parade, Marine Terrace, Siglap, Bayshore, Bedok South and Sungei Bedok and effectively half the time east commuters need to head into town and the north. It will also be the first in Singapore to offer underground bicycle parks at stations in Marine Parade, Marine Terrace, Bayshore and Sungei Bedok.

World's 4-in-1 depot

At the same time, the Bus Service Enhancement Program (BSEP) increasing the bus fleet by about 20 per cent (equivalent to 800 new buses) and a closer intervals, means east commuters can anticipate quicker and more efficient transport in their area soon.

Bus Service Enhancement Program (BSEP)

 

Paya Lebar Airbase Relocation

With a land space larger than Bishan or Ang Mo Kio, around 800 hectares of space will be allocated to new homes, offices and factories and remove height restrictions around Paya Lebar.

Analyst estimate the area is enough to draw up a master plan integrating residential, entertainment, and commercial developments up to 30 to 40 stories and potentially adding 50,000 to 60,000 new homes. Residents in the area are already optimistic that prices of their property will go up with this new township planned even with the 2030 target by Minister of Defense Dr. Ng Eng Hen.

 

More Private Land Available for New Development

According to URA’s Master Plan 2008 and 2014, more plots of land in the district will be made available for private developers. Although the developments are yet to be known, the possibility for commercial (i.e. a new mall) or residential developments will go towards further enhancing District 15 and will liven the area with new neighbours and a refresh of the view of the vicinity.

D15 land available

It is a mid-to-long-term view of the growth potential of this area, on top of the fact that the area already possesses many eateries and bistros in Katong, Joo Chiat and Siglap, and malls like Parkway Parade and 112 Katong. All this creates a vibrant environment to reside in, and it seems that both existing and soon-to-be residents are certainly in a good position for the future.

 

Author

Robin is the KEO of RE/MAX-GoProp Realty Pte Ltd, one-of-its-kind real estate service centre in District 15.  Using a different approach to handle real estate transactions and with in-depth local knowledge in the area, he serves the real estate needs of their clients in District 15 diligently 7 days a week with a group of enthusiastic real estate agents.

 

This article was created for Truuue following Robin’s talk Developments in D15 that will enhance value (other than the Thomson-East Coast MRT line) at Truuue’s D15 event.

 

You can reach him at robinooi@remax.com.sg, and find a range of properties from Robin, Khai Tze and the REMAX team here: https://www.truuue.com/agent/remax

 

References:
Land Transport Master PLan 2013
By LTA
https://www.lta.gov.sg/content/dam/ltaweb/corp/PublicationsResearch/files/ReportNewsletter/LTMP2013Report.pdf
               
Thomson-East Coast Line: New MRT Links in the East
By Christopher Tan, The Straits Times, 16 Aug 2014
TEL will cut travel time for residents in east – New MRT line will shorten commute to areas like Orchard and the CBD
By Priscilla Goy And Lester Hio, The Straits Times, 16 Aug 2014
New MRT line may perk up home sales – TEL expected to boost property prospects on the East Coast
By Rennie Whang, The Straits Times, 23 Aug 2014
http://ifonlysingaporeans.blogspot.sg/2014/08/thomson-east-coast-line-new-mrt-links.html
  
New town could be built when Paya Lebar Air Base moves to Changi: analysts
By Saifulbahri Ismail, Channel NewsAsia, 19 Aug 2013 20:21
http://www.channelnewsasia.com/news/specialreports/nd2013/news/new-town-could-be-built-when-paya-lebar/782452.html
 
Parliament: Paya Lebar Airbase relocation will be completed from 2030
By Karen Lim, AsiaOne, 20 Jan 2015
http://news.asiaone.com/news/singapore/parliament-paya-lebar-airbase-relocation-will-be-completed-2030#sthash.xjs32vOq.dpuf
 
Check out the Future MRT lines here: http://www.sgtrains.com/network.html

Getting Lucky in Real Estate

by Justin Quek, Senior Marketing Manager with Edmund Tie & Company

 

What is Luck?

“Luck Is What Happens When Preparation Meets Opportunity” – Roman philosopher, Seneca

I believe luck is a matter of perspective; like how renown golfer Tiger Woods trains so hard he gets “lucky”. Over my years in real estate as an agent/investor and meeting many alike, I have learnt some fundamental things you can employ to be “luckier” than others in real estate investing.

The Power of People & your Network

Network is networth by Justin Quek

In an industry where Network = Net-worth, it is important that you learn and identify stakeholders in the game. It’s all about understanding who the players in the industry are and who could be a useful resource. Here are some people who would know about an opportunity early.

  • Agents
  • Bankers
  • Investors
  • Fund Managers

Essentially, the more relevant people you meet, the more you will get to come across deals that never get to reach the public market.

Sometimes, merely staying in touch creates opportunities for a new deal, an introduction to a valuable new contact or more. But for you to be in on the news/opportunity before anyone else, you need to build relationship intimacy.  This is all about looking out and giving a helping hand to these contacts and building trust in their relationship with you. This does not happen overnight and takes time to develop, but wouldn’t you like to do business with a friend who cares about your well being?

It is also effective to incentivise ‘Win-Win’ situations for all parties. How many of us receive moon cakes from our real estate agents and bankers? How about being at the top of their list and sending them mooncakes instead? As business guru Marshall Thurber exclaimed: “leaders give, and givers get!”

On Deck with Tech

On deck with tech

Modern real-estate systems show greater emphasis on better tools and visibility, which readily provide you with access to a vast library of listings & market data. Make sure you know how to use these to help you study and understand situations better.

Information is power.

You can easily stay on-top of new information by connecting with the market through push alerts. They come in really handy if you are always on the move, and can help you to stay connected to your targeted preferences.

Finally, use the latest and greatest if it means you can get organised and do more faster. There are many available tools out there that can help you transact with transparency and efficiency. One such tool is Truuue’s innovative online bidding engine which makes real estate negotiations and pricing simple, open and fair when buying or selling your home.

Remember, don’t be a fool to technology but pick the right tools to help you best.


 Easily discover real estate transactions around an area with just a postal code!

See Transactions


Action with Data

“Data is like garbage, you better know what you are going to do with it before you collect it.” – Mark Twain

These days, it is no longer enough to use your gut feel with guiding your property investment; it is even more important that you assess your investment with supporting data. Here are some factors to consider when accessing data:

  • Risky versus Risk – are the risk factors quantifiable? Or are you simply taking a blind leap of faith?
  • Rent-ability Factor – Yield is not about making money but keeping your bank happy and your mortgage payments met. Look out for rental volume to minimise risk of holding the property during the tenure of investment.
  • Resale-ability Factor – Always have a clear exit strategy in real estate investing. How easy would it be to exit the market or resell this property. A look into resale volume can help qualify this risk.

Happy hunting and all the best in building that property portfolio and getting “luckier” with your property endeavours!

Justin Quek at Truuue D15 event

Author

Justin is Senior Sales Director – Edmund Tie & Company (Previously DTZ). A sought after advisor on professional and pragmatic matters in real estate. A graduate in Finance from Curtin Business School and an MSc in Real Estate from NUS, he brings with him a wealth of knowledge from over a decade of experience in Real Estate and Banking.  His core focus is the dealing of Landed and Private residences in the Core & Eastern Districts of Singapore. But beyond all this, he is a true Katong boy at heart who has lived his entire life in the East Coast.

This article was created for Truuue following Justin’s talk Buying & Selling – Keeping it Real at Truuue’s D15 event.

You can reach him at Justin.quek@etcpn.com.

 


References:
Real Estate Tech 2.0 – Next phase of disruption begins
Vivek Agarwal for Tech in Asia
https://www.techinasia.com/talk/real-estate-tech-20-phase-disruption-begins
Personal Networking is King in Real Estate Investing
Scott Yancey for Huffington Post
http://www.huffingtonpost.com/scott-yancey/personal-networking-is-ki_b_12110018.html

Truuue brings expertise to buyers, sellers and agents for the first time

Neighbours @ D15 Event – 17th September 2016

It was an exciting weekend for property buyers, sellers and agents in District 15 (Marine Parade, Katong area) with the inaugural D15 event held by Truuue at the beautiful Meyer Room in Singapore Swimming Club.

Singapore Swimming Club

Even with the F1 going on, it was very well attended and over 150 guests showed up! Aptly titled “Neighbours @ D15”, the event was aimed at connecting District 15 home buyers and sellers, along with their agents and trusted industry professionals. The session was opened by Jason Mah, co-founder of Truuue, who introduced the new Truuue’s online bidding platform and “3+1” transaction program. The room was packed and filled with energy, which fed the enthusiasm of the speakers lined up for the day.

D15 event full with people

 

Jason Mah Cofounder Truuue

As the only transaction-centric real estate platform with the tools to make online property transactions easier, faster and less costly, Truuue had over 50 properties from District 15 alone on their HiLite program and half a dozen listings going up for bidding following the event. Event attendees were privy to a preview of these specific properties being sold on the platform prior to bidding.

Jason talking about TruuueBid

“It’s interesting to see online bidding for properties and there are many useful features on the site. I think more emphasis is needed to mention their verification checks and services for assurance, but it’s a flexible system and I think (it’s) quite a good way to sell” – Mr Chew, who attended the event with his wife.

The event also had a line-up of excellent speakers giving insights into the real estate market including Justin Quek, Senior Sales Director at Edmund Tie & Company, Paul Teo, Associate Group Director at OrangeTee, District 15 specialist Robin Ooi, KEO of REMAX – GoProp Realty and lawyer and industry veteran, Rayney Wong from Vision Law LLC.

collage-of-d15-speakers

Participants were all eager to learn more from the knowledgeable speakers and it was great to see them heading straight for to the speakers and booths after the talks instead of bee-lining for the spread of food.  Booth partners from OCBC, ERA, and HomeLoanWhiz (Truuue’s official mortgage specialist partner) were all very helpful in answering guests questions around their properties.

People interacting at D15 event

 

OCBC booth at D15 event

 

People eating at D15 event

“The event turnout exceeded our expectations and we are excited to receive some very positive feedback from our pilot users. We had some great suggestions and will be working hard to improve the platform towards our official launch.” – Kuah Boon Teck, CEO and Founding Investor of Truuue.

Truuue team at D15 event

The first batch of these District 15 properties are now available for bidding starting 22nd September 2016. Check them out on the Truuue platform at www.truuue.com

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