When banks and buyers are having their hands tied by the TDSR framework, local developers are stepping up to slash prices for both new and old units. Amid a softening market, property agents are struggling to look for buyers and close the deal. With a changing landscape, those old sales pitches like 'buy now before prices climb further', 'buy properties to beat … [Read more...]
Ask 4 questions before you buy that overseas property
Recently, I keep getting messages from readers of my blog, asking whether they should invest in overseas properties. Places where these properties are built include Iskander, Kuala Lumpur, Penang, Australia, UK, US, Japan, Thailand and the Philippines. The only reason that justifies buying abroad Basically, I am not against the idea of investing overseas if the … [Read more...]
Till ‘tax’ do us part
In Singapore, there was a recent rush for 'decoupling' – transferring ownership of properties previously under joint ownership to one of the owners. The legal transactions allow the exiting parties to be treated as first-time buyers when buying their next property, so that they don't have to pay the 7 percent additional buyer’s stamp duty, as recently introduced by the … [Read more...]
The dilemma of foreign ownership
Just read the news article "Landed property – fewer foreigners to get approval" in last week's TODAY. Our Law Minister expects approved purchases of landed property by foreigners to be reduced by half. 'Foreigners' are confined to Permanent Residents only. The current foreign ownership is 3.5 percent (below the target of less than 5 percent). Under the Residential … [Read more...]
En bloc the Singapore way (part III)
With property buyers standing on the sideline, here comes more activities on en bloc. Some deals are closed. Some owners want to try their luck. More are doing their research on the en bloc topic. 1) Selling your home en bloc Ask yourself the following questions: Do you plan to upgrade or downgrade after the en bloc? Can you afford a similar or better unit in the same … [Read more...]