Understanding Why Private Properties Can Be Affordable to Singaporeans

Several Singaporeans believe that purchasing properties is nearly impossible. Some probably still believe that the sub-urban condo cost around 2 million dollars. It may sound ridiculous to others, but that’s a prejudice developed among lots of Singaporeans- overestimating the private price properties. Why don’t we stop assuming for a while and try to understand why a property like The Garden Residences Serangoon could be cheaper than what we most believe?

  1. “No condo that costs under one million dollars”.

If you are to take a guess, how much do you think does a condominium unit cost? Some would probably estimate a million dollar. Others might think a “lower” price of $800, 000 should be enough. Then it should come to a surprise that when you hit the search button at 99.co, there are over 3,000 condo units priced for $700,000 and even lower!

“$700,000? Are you sure it’s not a rat hole?” Not! Do you know there are three bedrooms, 850 sq? Foot apartments from The Visionaire available for $690,000 only? The Northwave offers 893 sq ft. Apartments at the price of $686,100. Yishun’s The Criterion has large units, available for only $677,600.

And just because these condos are cheaper, it does not mean they offer a lot lesser. You can enjoy a number of their facilities like tennis courts, Jacuzzi, gyms, pools, etc. This is probably too good to be true for a lot of Singaporeans. News flash, these condos exist.

  1. “A monthly payment of $4,000.”

Interest rates of the Home loan are undeniable on the rise, but there are things that you should still remember: First- these loan interests are cheaper than HBD loans for these public housing, and second the options you can get is like the FHR loans exist as a way to handle the rising cost.

For instance, you are to buy a $800,000-worth unit. You will have to pay the 20% as a down payment while only 5% of the price of the condo must be paid cash. The CPF may cover the 15%, and banks will shoulder or finance 80% of it. That would make a $40,000 down payment in cash, with remaining $120,000 from CPF.

If we are to assume that you are to use a loan for 30 years with 1.8% interest rate annually and $640,000 for quantum, you will have to pay $2,032 per month only. That’s almost the half of what some of you might be expecting.

But if that amount is to be divided between you and your co-borrower, it can even go lower. The $40,000 down payment will become a 20,000 dollars each person and from your CPF with $60,000. The repayments on a monthly basis, if split in two, can become only a quarter of what we used to believe – $1,151 only.

It may not be as cheap, but if we are to compare the expectation from the reality, then the reality is not bad.

  1. Mortgage tax interest rates can be deductible

Do not forget that home loan interest payments can be deducted from tax. Here are the tax deductions that are claimable according to IRAS: Visit https://www.thegarden-residences.com.sg

  • Mortgage loan interests
  • Tax on properties
  • Insurance for Fire Emergency
  • Get commissions by getting tenant that are subsequent
  • Cost for new tenants or renewing lease
  • Maintenance and repairs for the monthly maintenance, pest control, painting, etc.

You are going to pay 1.8% interest on your CPF Account which grows 2.5%. Moreover, 1.8% is being deducted from income tax.

  1. Exaggeration when it comes to conservancy charges

To be honest, condos can get higher conservancy charges compared to HBD properties, but not as high as the embellishments seem to be! Probably you have heard from one of your friends owning a condo the issue about the thousand dollar bill; certainly, that is worth of three-month maintenance.

Fear not as you doesn’t have to sell your kidneys over a condo, although the fact remains that it’s higher than HDB flats. But indeed, there are examples of condos with fees for over $1000 a month. Units that are high-end usually from District 9 and 10. These are the ones “made for celebrities”- the ones with huge apartments, with concierge service and all.

But for condos that are mid-ranged, most of them, only cost monthly of around $350 to $400. This amount of tax is deductible.

Sure they can be expensive, but it’s not as nearly impossible as what others think it could be.

Your dream private property can always be within your reach. All you have to do is to research on the cost thoroughly before you scrap away the opportunity. If both of you has mid-income of around $4000 a month), you can ask a financial planner for help to make your plans come true.

Collective Sales Trigger To Commercial Properties

More commercial and mixed-use projects are connecting the en bloc sales frenzy following a variety of residential improvements have successfully shifted hands, ” reported the Business Times.

For instance, three incorporated developments have been launched for collective sale.In Yio Chu Kang, owners of ICB Shopping Centre hope to market the property for $65 million to $70 million, which works out to between $1,390 psf and $1,500 psf. According to some Fox News, the upcoming GLS plot at West Coast Vale, Twin Vew is going to launch soon late October. Showflat is under construction now and will be announce probably during Nov/Dec 2017, as for the Twin Vew Pricing, it will be around Chinese New year 2018.

Owners of the 119-unit retail mall Bugis Cube, previously called North Bridge Commercial Complex, will also be in the process of starting their collective purchase.

Meanwhile, the owners of Katong Shopping Centre in Mountbatten Road and Goldhill Centre in Novena have created collective sales committees. Both groups aim to choose the book price during their forthcoming extraordinary general meetings following month, according to their marketing agent Cushman & Wakefield.

But, experts noted that en bloc sales between commercial buildings are often more complicated and requires a longer time compared to those involving housing estates.

In 2008, the 87-unit Goldhill Centre was set up for sale for $315 million or $1,496 psf according to its potential gross floor area (GFA). But the owners failed to secure a purchaser for the site comprising a mixture of freehold and 999-year leasehold starting from 1970.

As for the 425-unit Katong Shopping Centre, this marks its third attempt to discover a buyer after its next sales exercise died last April with a reserve price of $630 million or $2,248 psf per plot ratio based on its land area. For the most recent en bloc attempt, they reappointed Cushman & Wakefield as advertising representative and kept the selling price.

Expectation of Hundred Palms Residences EC!

Scheduled to be completed latest by 2021, this executive condominium, Hundred Palms Residences will offer convenience alternatives and varied lifestyle, all inspired by Hougang abundant natural and cultural heritage. Standing tall along Yio Chua Kang Road, this high-end EC is also found near Greenwich V shopping Mall & Hougang MRT. Enjoy a leisure jog amidst the verdant greenery or to a friendly match in the Country Clubs nearby. Hundred Palm EC is with no doubt a fantastic place to call home.

Plentiful of Amenities

Hundred Palms Home will feature many various kinds of unique and complete facilities, which includes hydrotherapy alcove, a guard house, swimming pool,tennis court, an iconic clubhouse, function rooms, BBQ pits, wading pool, kids playground. This condo’s facilities provide complete family entertainment needs for your family and loved ones. There is going to be a varied range of layout for each of your individual demands, featuring various sized bedroom flats of varied layout and sizes. Indulge in a serene and tranquil lifestyle right in the heart of Yio Chu Kang.

Amidst the tranquility of your sanctuary, the excitement of city life remains close within reach. Hundred Palms Residences is found within a short 20 mins drive into the central business district or Orchard road shopping belt. Well Encircled by amenities such as Hougang MRT/Bus interchange and additionally Hougang 1 mall.

Schools & Institutions

Good schools like the distinguished Rosyth School, Bowen Primary School, Ximin Primary School, Montfort Junior School, Montfort Secondary School as well as the French school, Lycee Francais De Singapour, are all located nearby for your kids’s advantage. With an ideal place and excellent surroundings, Hundred Palms Residences is an exceptional abode of house dwellers. Hundred Palms Residences symbolizes class, splendor, at precisely the same time, advancement. This great development will feature each of the amenities, facilities, and services that anyone would want and need in a lodging. Depending on your preferences, you can select from a number of units that are varied.

Check out the famous reputable school, Rosyth School that is Near Hundred Palms EC. 

Strategies For Finding High Quality Properties Today

For some people, buying real estate is something they are going to do only once or twice in a lifetime. If you don’t understand what you’re doing when you’re attempting to purchase a home, it’s easy for others to take advantage of you. It’s extremely helpful to research as much as possible when buying real estate. Here’s some assist in getting an excellent deal on the purchase of property so that you don’t get taken.

Planning for the new loan for housing

When taking out a loan to purchase home like buying the new home like Martin Modern, your lending institution will require a property appraisal. However, it’s just the bank deciding whether or not the condo is valued at the price you’ve consented to pay. Furthermore, you should select a property inspector who works for you. The housing inspector makes his living by reporting on home defects that could cost the buyer a great deal of money to repair in the future.

It’s never advisable to let your emotions get in the method of common sense when you’re contemplating a real estate purchase. Basing major financial decisions on your emotions is usually risky. It’s easy to confuse an emotional response with what your instincts are telling you. When you follow your intuition, you realize that you’re paying a good price for a great home.

Prepare documentations

Before purchasing a new home, it’s not advisable to make big purchases or move your money around. To protect your credit rating, be sure not to make unwise decisions that would have a negative impact on your numbers. In order to get a good loan, you should make an effort to prove to lenders that you’re reliable and can provide a good paper trail. Starting new credit cards, having too much debt or buying many expensive items can lead to difficult loan approvals.

In the event that you’re thinking about obtaining land, it is a smart thought to dependably be certain that you comprehend what you’re getting yourself into. Keeping up your home can be work serious and expensive however is a good approach to build your riches. With no proprietor to swing to when unanticipated expenditures for new systems of support and pipes issues happen, these expenditures can exhaust your financial balance. In an ideal world, you ought to start a reserve funds for what’s to come.


Someone who is pre-qualified for a loan is quite different than someone who has been pre-approved. It will take very little to get a loan pre-qualification. When a loan company pre-approves a customer for a loan, that loan company informs the customer how much they can afford to spend on their home and how much money the financial institution will lend them based on all the client’s financial data. You’ll save much time and hassle examining properties you cannot afford to buy when you are pre-approved for a real estate loan.

URA to Launch 2330 Units in 1H 2017 T5 confirmed list sites to launch in 1H 2017, could yield 2,330 units


Regular supply by Government

The government will look to ensure there’s a continuous supply of new homes to meet the requirements Singaporeans. These plots are expected to yield up to 7,465 private homes and create 158,080 sqm commercial space.  The supply of private units is similar to the 7,545 units from the second half 2016 GLS Programme. (See URA: https://www.ura.gov.sg/uol/land-sales.aspx?p1=find-gls-site&p2=current-gls-programme)

The 5 Confirmed Plots

The five sites on the confirmed list could yield 2,330 private flats, higher than the supply of 2,170 units from the second half of this year. They are situated in Toh Tuck Road, Tampines Avenue 10 (Parcel C), Lorong 1 Realty Park, Serangoon North Avenue 1 and Woodleigh Lane.

“The demand for new housing from prospective home buyers has stayed healthy in 2016. The continued supply of residential sites through the GLS Programme will make sure there is a steady pipeline of new private housing units to match the needs of our resident population,” said the MND.

Expert Interviews

Desmond Sim, Singapore, CBRE Research, Head and South East Asia, noted that no commercial website was contained in the confirmed list. “This gives enough breathing room where there’s still considerable space to be absorbed, as overall occupier demand has been weak across both retail and office space,” he said, to solve supply and demand imbalance.

Meanwhile, the reserve list will contain seven residential sites (including one executive condominium (EC) website), one commercial and residential site and two commercial sites. These websites can offer 5,135 private homes (including 775 EC units) and mostly commercial office space.

“CBRE expects to see some of the smaller reservation list websites activated, for example the Bartley Road plot. Another website that is remarkable is the reserve site at Jiak Kim Street, that will include the former Zouk storyline. It now presents a key waterfront site and will likely see precisely the same interest in Martin Place duplicated,” said Sim.

“The sole EC site on the reserve list – Sumang Walk – has been carried over from the reservation list of both 1H 2016 and 2H 2016 GLS programmes. Even if it is activated for sale, the resultant project would only be found in 2018,” he added.

Other previous tendered plots

With URA launching new plots every half yearly, 2016 saw the launch of the most anticipated site by Frasers, that is the Seaside Residences which is likely launch in 2017. Apart from this plot, the Grandeur park condo is also expected to launch in 2017. (see previous post)

Jurong Gardens – A New Plan

Source: NParks


The business, which was appointed in October via bid, disclosed that it took into account the requirement to maintain nature by keeping existing biodiversity hotspots in designing the gardens. Works for the project are set to be completed increasingly from 2020.

The seven-storey pagoda will be retained, while the Bonsai Garden will get a hanging bonsai gate, making the plants look like they’re suspended in mid air.


A water gallery trail will be created at Jurong Lake Gardens East, which will soon be transformed into a waterfront promenade for leisure boaters.

Speaking at the launch of an exhibit to showcase the suggestions for public remarks, National Development Minister Lawrence Wong said that there will also be F&B outlets at the gardens. With the future High-Speed Rail (HSR) terminus to be linked to the gardens, residents will also enjoy better connectivity, he included. Also not forgetting the upcoming new launches in 2017, Grandeur Park Residences


A string of exhibits that are roving and townhall may also be held in places like Lakeside MRT Station and Canopy @ J Link until February 2017.

Offering “a great mix of nature and community ”, the new Jurong Lake Gardens will feature a “good blend of something recognizable, with many new parts that are exciting and fresh ”, Wong said.


Notably, development works for the western portion of the gardens commenced in April and are expected to be finished in 2018, with works for the eastern and central parts.

Interesting Upcoming New Condo By CDL

Hey everyone, gotten some news that City Development Limited together with Hong Leong is going to launch the new condo by the name of Forest Woods probably by Sept 2016 at Lorong Lew Lian, near to Upper Serangoon.

Some facts and articles about this development i have found while googling. You may want to click here to find out more about Forest Woods. (open in a new window)

Forest Woods is a new 99-year leasehold development brought to you by TID, Hong Leong, and the City Developments in collaboration. The site won by CDL and brought a total of 11 bidders for the property. The development will include about 500 units of 1 to 4-bedroom units. This project features complete high-end facilities such as indoor health club, clubhouse, kids’s playground, function room, guard house, the bbq pavilion, Child’s pool, Outside Fitness zone, Sun Deck, Seeing Deck, and Yoga Zone that will provid complete family amusement.

The development is reachable as it’s only a walking distance from Bartley MRT and Serrangoon MRT. It’s strategically located in a famous location close to lots of conveniences for residents’ convenience as it’s encompassing with great conveniences. Shopping malls like Heartland Mall, Upper Serangoon Shopping Centre, ICB Shopping Centre, and NEX aren’t far from the property to supply amusement that is complete for the future residents with their nearest and dearest. Medical needs are also accessible with Daily Medical Centre nearby.

My conclusion is that, branded developer like CDL definitely come with  a “branded” price, and quality wise, if we look at their past projects, like ONE SHENTON, CLIVEDEN AT GRANGE and THE RESIDENCES AT W SINGAPORE SENTOSA COVE, each and every of them has high praises by the residents, average seeing them getting 4/5 starts rating in property guru.

Let’s see how the launch date will fare for this Forest Woods Condo then!

New Upcoming Condo @ West Coast – Parc Riviera

Parc Riviera is a condominium with a lease of 99-year located in West Coast Vale. It comprises 595 units in two blocks of about 36 to 40 storey. It has cluster houses in addition to one bedroom to four bedroom units. This provides more choices from which to select to fulfill the family needs.

The Pandan Reservoir is a few minutes away, with its tranquil environment being suitable for family picnic. These supply many means of relaxing and resting on off-days outdoors that is great and for spending weekends with the loved ones.

The condominiums have convenient means of transport. It is linked to Commonwealth Avenue, Ayer Rajah Expressway and West Coast Avenue. City centre can be reached by the residents from the Parc Riviera in thirty minutes with these transport means. If using public transport additionally, there are connecting the condominiums to the closest bus stop on Ayer Rajah.

Pac Riviera is in Clementi an estate that has various amenities for example shopping malls and eateries, markets. The shops and the Clementi mall nearby can fulfill the basic needs of the residents. The mall also has a public library for the book lovers and there’s the Jurong East library. These two have most books.
The Parc Riviera condominium is situated between Jurong East MRT that puts it close to Jurong Gateway that is certainly coming up and Clementi. The Jurong Gateway will become the biggest commercial hub away from the city center with a mixture of retail, F&B and entertainment alternatives. These exciting developments in the region of Julong Lake District mean that the residents can meet their retail and entertainment needs nearby without the need to travel to the CBD. Everything they may desire is available in the shopping centers in Jurong Gateway that comprise JEM, Westgate,

Big Box, JCube and IMM. Other than being commercial centre, the Jurong District is being developed as a chief leisure destination that has a promenade and waterfront park. Other major attractions are the new top-notch Science Center close to Chinese Garden station and the lakeside village while enjoying the panoramic lake views for shopping and dining.
That makes it convenient for Parc Riviera residents.

Singapore fourth most expensive city for expats

Hong Kong topped the list, shoving against Angolan capital Luanda to second position. While Tokyo rose to fifth Zurich stayed in third place. Kinshasa and Shanghai chose the sixth and seventh places respectively, while Beijing, N’Djamena and Geneva rounded up the top 10.

“Despite technology progress and the rise of a globally associated work force, deploying expatriate workers stays an increasingly significant feature of a competitive multinational company’s business strategy,” said Ilya Bonic, Senior Associate and President of Mercer’s Ability business.

“Yet, with explosive markets and stunted economic growth in many areas of the world, a sharp eye on price efficacy is crucial, including a focus on expatriate remuneration packages. As organizations’ desire scale and to quickly grow worldwide continues, it’s important to have see-through and precise information to compensate fairly for all kinds of duties, including short term and local plus status.”