

Temporary Relief Measures For The Real Estate Industry amidst COVID-19
With show flat previews, viewings and construction work ground to a halt amidst tight “Circuit Breaker” measures, the real estate market has begun to feel the tremors of the COVID-19 pandemic. On the 6th of May 2020, the MND released a statement on the provision of temporal relief measures tailored to the slowing real estate scene, for both private developers and even for individuals like yourselves. The objective behind these initiatives is to ensure that prices in the private housing sector remain congruent with economic and financial fundamentals. These measures do not superimpose on existing property market cooling measures. In this article, we will be providing you with a comprehensive breakdown of the various assistive measures made available, and how they might affect you! Target Audience: Individuals For individuals, the main relief measure provided concerns the Additional Buyer Stamp Duty (ABSD). For those who may not know, the ABSD is a…
Read more

Your Investment Guide: Decoupling
Decoupling – this term has always been perceived as a negative act in real estate terms, due to its association with divorces. However, this is not always the case. Decoupling is, in fact, one method of ensuring a cost effective manner of paying taxes for your property! Here are some quick facts to know about decoupling: Decoupling aka Fractional purchase Decoupling can be simply defined as a disengagement or separation from something else. However, in real estate terms, it can also be referred to as the freeing up shares of the property. As such, this simply means that, assuming a property has 2 owners, 1 owner simply purchases the shares of the property from the other, and henceforth owns 100% of the property. Simple concept, isn’t it? Who can undergo decoupling? Basically, anyone can undergo the process of decoupling. However, ‘anyone’ in this case refers to the parties or co-owners…
Read more

Why Romeo Tan paid over $1.6 million for this Marina One Residences bachelor pad
Mediacorp actor Romeo Tan just hit a milestone in his life that many Singaporeans dream of: buying a condo to call home. In May 2020, the 35-year-old celebrity announced on social media that he had collected his keys to his apartment at Marina One Residences, which happens to be one of the most iconic condominiums launched in Singapore in recent years. Looking at recent transactions for one-bedroom apartments at Marina One Residences, it’s likely Romeo forked out between $1.60 and $1.65 million for his unit, which is located at a prime location in Singapore and right at the doorstep of Marina Bay MRT and the Central Business District (CBD). Comprising a total of 1,042 residential units, the mixed-use development is designed by award-winning architect Christoph Ingenhoven, and features lush green gardens and a design that resemble stepped rice fields: Chio. Before we go into why Romeo picked Marina One Residences,…
Read more

Alibaba Buys 50% Stake in AXA Tower
A consortium of investors led by Singapore-listed Perennial Real Estate Holdings announced on May 6 that they are selling a 50% stake in AXA Tower for and transferring 50% of the outstanding loan, to Alibaba Singapore, a subsidiary of the NYSE-listed Chinese e-commerce behemoth, Alibaba Group Holdings. The deal is expected to be completed by end June. 2020, and is based on a property purchase price of $1.68 billion. The Perennial-led consortium has in turn, transferred the remaining 50% equity stake in AXA Tower and the remaining 50% outstanding loan to a new entity, PRE13. The 50-storey AXA Tower was once the tallest skyscraper in Singapore when it was completed in 1986 (Photo: Perennial Real Estate) Other investors in the Perennial-led consortium include HPRY, a wholly-owned investment company of Kuok Khoon Hong, group chairman and CEO of Wilmar International, who is one of the largest sponsors of Perennial as well…
Read more

Is It Possible To Own A Home In Singapore With Little Savings?
Unbelievable but yes, one can have the opportunity to own a home with an initial sum of $0. This is a shocker for most, especially since Singapore has a global reputation for being one of the world’s most expensive cities to live in. Sadly, you do not qualify for this opportunity if you are not a full-time student/NSF and are above 30 years old. Under the Staggered Downpayment Scheme and Deferred Income Assessment Component recently introduced by the Housing Development Board (Board), full-time students and NSFs are able to apply for a flat without having to be employed or possess a steady stream of income. If you are a student/NSF interested in applying for a flat, check out our previous article! For those who do not make the cut, fret not! In this article, we will be taking a look at how much you would need minimally to comfortably afford each tier of housing in Singapore, from…
Read more

New COVID-19 Measures Announced by MAS: Deferring Your Loan Repayments
As Singapore braces for an inevitable economic crash landing, monetary cushions are being out to catch the fall. As of 7 April 2020, Singapore started lying low in her retreat against the virus, following strict restrictions on movement under the ‘Circuit Breaker’ initiative. Some of these measures include the mandatory closure of non-essential retails, no dining in at all food outlets and mandatory telecommuting for all companies’ staff except those working in essentials services. Big brands such as Uniqlo, H&M and IKEA are shutting their doors, just like many of their competitors across all industries. But closing the curtain for business spells huge damage to profits, while still incurring fixed costs such as rental and opportunity cost. While it is not feasible for the government to protect businesses entirely, efforts are rolled out to mitigate and for damage-control to be met out. What do these measures include? If you are…
Read more

COVID-19 May Amplify Attractiveness of Singapore’s Real Estate Market
The world is in turmoil with lockdowns and heightened travel restrictions. Things are likely to worsen in the short term, but Singapore’s handling of the outbreak makes it look like a ‘safe haven" The rich are on the lookout to pick up some real estate gems As more cities and countries get locked down to stem the spread of Covid-19, anecdotal evidence is that some wealthy individuals see Singapore as a safe haven — certainly one that is worth flying into Seletar Airport on a private jet, even if it means a 14-day self-quarantine upon arrival. Many of these high-net-worth individuals are from Indonesia, although there are others from neighbouring Asean countries such as Cambodia and Vietnam, says Bruce Lye, managing partner of real estate broker, SRI. “They like the way the Singapore government is handling the Covid-19 outbreak,” he adds. “They feel safer in Singapore than in their own…
Read more

Pay & Pay: The Story of ABSD
Have you heard of Additional Buyer’s Stamp Duty? Buyer’s Stamp Duty (BSD) yes, but why is there the word ‘additional’ in front now? Is it government trying to take more moola off me?! Well it’s likely wealthier locals in Singapore are more familiar with this term seeing as ABSD is applicable for those who purchase additional properties. One property also burns a hole in my pocket; I don’t know how someone can even afford two or even more?! For every property purchase, one will need to fork out BSD, which is the amount of tax you’ll have to pay based on either the purchase price or market value of your property (whichever is higher so the government can earn every single cent off you). ABSD is a fee that’s on top of BSD, specifically for: Singapore citizens purchasing their second, third, fourth…… property Singapore Permanent Residents buying their first property and…
Read more

August new home sales surprise with strong showing
Developers moved 1,122 new private homes in the traditionally quiet month of August, down by just 4.8 per cent from the 1,179 units sold in July, as demand remained resilient despite the weaker macro-economic environment. Last month's sales numbers were boosted by new launch Parc Clematis and sales at projects that were launched earlier. More than 70 per cent of units sold last month were from previous launches, as most developers avoided launching new projects during the Hungry Ghost month. Parc Clematis was launched two days after the festival ended. [Get Insights Report] Parc Clematis amenities, pricing comparisons, and potential rental yield. Also helping to buoy sales was the "lower-for-longer" interest rate environment. August's strong performance - the second-highest in a year after July - could encourage developers to continue launching more projects this month. Developer sales were up a whopping 82 per cent from the 617 units sold in…
Read more

Why Foreign Investors Buy Properties in Singapore?
In cities such as Singapore and Hong Kong, property is a hot button topic with keen interest from both local and foreign buyers. Traditionally, it is also considered one of the safest forms of investments for people to grow their money. A report by investment bank UBS published in 2018 said that properties in Singapore are currently “fairly valued”. Clearly, the nation state retains its competitive edge for property investment. Today, we delve further into the compelling reasons that make Singapore an attractive market for foreign investors. Stability of the Singapore property market The Singapore Government keeps a close watch on the local property market. While homeowners, property investors and developers have been directly impacted by the different rounds of cooling measures, it is common knowledge that such initiatives are in place to prevent overexuberance in the industry and the danger of a property bubble forming. Strong political leadership,…
Read more