Plastic3

It is inevitable that the transactions are going up as the developers are launching more small units. New apartments with sizes under 50sqm or 538sqft increased from 3.6% in 2007 to 19.4% in 2011. In 2007, more than 69% of private apartments launched were bigger than 101sqm or 1086sqft. In 2011, more than 65.7% of private apartments launched were smaller than 101sqm or 1086sqft. In 2007 only 424 of such shoebox units were launched. By the year 2015, over 2700 more of such units will receive TOP. more figures on my blog if anyone's interested: Shrinking apartment sizes Shoebox units already TOP & how they are faring

Tenant pays for stamping Agent gets TA stamped Landlord get a copy as proof

For HDB loan: Need to pay COV within 10-days from 1st appt, the rest on completion. For Bank loan: 1st appt don't have to pay. Pay roughly 2-weeks before 2nd appt (depends on bank) (Note that for Bank loan need to pay 5% in cash)

Near MRT shouldn't be too hard to sell, just need the right buyer to come along, good luck! (btw, I'm also from DWG ^^)

Hi, May I ask if it's HDB or Private? For HDB I have sold on the first day itself , for Private it usually takes a little longer, most homes can be sold between 1 to 6-months. Depends on a few factors like price, location, the home interior...etc How many viewers has your agent brought in the 3-months, no offers at all? Best, Mark

Yeah, does not look like Singapore.

Will need to know the amount that needs to return to your CPF to calculate sales proceeds. The amount that can be used for new flat also depends on age, those above 55-years have to factor in minimum sum. Best, Mark

The minimum cash proceeds you can keep after selling is $25,000. Assuming your cash proceeds is $60,000, you can keep $30,000 & have to use $30,000 for new flat. I posted 2 examples on my old blog last time, hope it is useful for you: http://markdwg.wordpress.com/2010/03/06/new-hdb-second-concessionary-loan-policy Best, Mark

My HDB is currently under MOP, so does REP renewal rejection form the basis for me to appeal to HDB to allow me to exempt from MOP and let me sell the HDB in market or will I mandatorily have to surrender my flat to HDB. Also can someone tell me what would be the chances of HDB to allow me to sell in market ? Not sure better ask HDB directly And if I have to surrender my HDB, I know it will be less than market rate, but does anyone know how much low do they pay ? Flats that are acquired by HDB they usually pay 90% of valuation. Best, Mark

yup, joint-tenancy means the individuals are considered as One, have to make the decision as One. There is no 50%/50%.

Take RES Course & Exam, 2 papers. Join a Real Estate Agency. OR Take REA Course & Exam. Start your own Real Estate Agency. Don't have to be full-time but need approval from company if being employed. Best, Mark

True... There's a few estates that are traditionally more costly like Bishan, Bukit Merah, Clementi, Kallang & Queenstown areas. While Jurong West, Woodlands, Yishun, Bt Panjang, Choa Chu Kang areas are comparably more affordable. The cheapest & most expensive change each time the HDB releases their quarterly report, it also differs for each flat type.... for example 3-room flats in Geylang are surprisingly cheap compared to 4-rooms flats there: 3-room median price Q4 2011 - $313,000 4-room median price Q4 2011 - $495,000

My experience with Filipino tenants has been quite positive, they are easy to talk to, are generally quite clean and pay rental on time. Best, Mark

Why the 5 Countries are exempted from ABSD: Switzerland, Lichtenstein, Norway and Iceland are members of the European Free Trade Association (EFTA). Under that agreement, Singapore must treat EFTA nationals as if they were Singaporeans for purposes of investment, including investments in property. Under the U.S.-Singapore FTA (USSFTA) Singapore must treat Americans as if they were Singaporeans through the national treatment obligation. Any privileges provided to other countries must be extended to Americans. This obligation is known as “most-favored nation” treatment, and it allows Americans to claim the benefits accorded EFTA nationals under the EFTA-Singapore FTA. source: http://aseanec.blogspot.com/2011/12/in-singapore-property-market-not-all.html

There are no hard & fast rules, depends on your particular case... why is the seller selling? Does he have holding power? If not desperate to sell maybe he will keep & rent out OR hold on and monitor the market? Are there any other interested buyers? How long is the unit in the market? Can you find a close substitute if the condo is sold to another buyer? ....etc

As a co-buyer is buying a third or more property, ABSD is payable 3%+3%=6%

Citizens of 5 countries to pay same stamp duty as S'poreans The citizens of five countries that have free trade deals with Singapore will be treated as Singaporeans for the purposes of the new stamp duty measures, these 5 countries are: - United States - Switzerland - Liechtenstein - Norway - Iceland Free trade agreements usually ensure that a country's citizens are accorded certain trade protections when they are in the partner nation. But the foreigners from these five countries can apply for remission or relief. The Inland Revenue Authority of Singapore (Iras) website says they must provide identification, acceptance to option to purchase/sale, the purchase agreement and the ABSD declaration form. Other situations where remissions can apply may include: - Cases where married couples have mixed residency status, ie. a PR who currently owns a property while his Singaporean spouse owns none can apply for relief from the additional stamp duty when they co-purchase a home - A PR and a Singaporean spouse who co-own a property, can apply to be exempt from the 3% levy when they next jointly buy a property People who want to downgrade from private housing to an HDB flat will be allowed a concessionary period to sell their private residential properties. The application for relief in such cases can be made through the HDB. source: http://www.iras.gov.sg/irasHome/page04.aspx?id=910

I define it as residential Real Estate "Outside Central Region" Map: http://spring.ura.gov.sg/lad/ore/login/map_ocr.pdf As prices are elastic it is quite hard to determine using purely price ranges. Best, Mark

Real Estate under the Condominium status have a larger plot size, at least 4,000 sqm (approx 43,000sqft) Usually there is more provision for facilities in a Condo development, the setback distance is also more for a Condo. Best, Mark

13% Buyer’s Stamp Duty for: All foreigners buying 1st residential property in Singapore (Additional 10%) Non-Individuals (corporate entities) 6% Buyer’s Stamp Duty for: All Permanent Residents 2nd residential property (Additional 3%) All Singaporeans 3rd residential property (Additional 3%) source: http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=3202&category=Press%20Release&year=2011&RA1=&RA2=&RA3=

True, but if prices were to be significantly lowered....it will also affect the people....most of our "wealth" is tied to property & their prices. But I do believe, there are some new measures to control valuation, I don't see it moving up as fast as it did in 2010. In 2010, there were cases where I needed to redo the valuation reports...and there was significant increases just within 3-months of about $15k-$20k. This year, I also redid some valuations....some of them remained the same no increase despite other transactions being lodged for the same block. In the heat of the recent escalation of prices...people have also forgotten that some HDB flats sold below valuation in the recession periods, some of the younger couples buying their first homes have this impression that prices can only go up & not down. When my parents bought our current HDB flat in Yishun it cost between $300k-$350k in 1996/1997 (I was still young then don't really know the price), the current selling price in 2011 is in that same range... Best, Mark

Welcome

There's a unit at blk 57 valued $280k, your valuation should be quite similar, considering only the location...COV based on current market rate in Toa Payoh is around $30k+/- for 3-rm. Your asking price will be around around $310k+/-. Best, Mark

3Q 2011 Toa Payoh 3-room median resale price = $338,000 I can give you a more accurate price if I know which blk. Best, Mark