Category Archives: Landed Property

How to make your home a Best-Seller in Today’s Market!

While waiting for that Circuit Breaker (in Singapore) or Lockdown to be over, what can you do to make your property a quick sell in today’s market? The following  steps will prepare your home for a quicker sale and possibly a better price. The same applies to the Landlord who is looking to rent out his home quickly in the subdued market.

1. Overhaul your Home

If you have been dragging your feet to make all those repairs, now is the time to fix all of those nagging things that you just lived with. Inside the house, look for things like stained ceilings, missing tile, broken windows and doors, heavily scratched floors and other signs of neglect. If you have a wooden deck or parquet flooring, check for cracks in floor boards and loose railings. Make a list of everything you see and then decide which things you’re going to tackle. A competent Realtor can be very helpful in determining what needs to be done and what doesn’t.

2. Declutter

Resist the urge to roll your eyes at this one. It is imperative that your home looks livable. Potential buyers may not be able to see past your clutter. Think of it this way—don’t move things you no longer want or need. Make decisions now and your house will sell faster and your move will be easier.It’s no secret that getting started is the hardest part of decluttering. Take one room, or even part of one room, at a time and dive in. Recycle or shred paper. Donate books, toys, clothing and duplicate household items. If you’re getting frustrated and you can’t deal with one more stack of papers or shoebox of old photos, put them in a plastic tub, label the box and stack it somewhere out of the way. A stack of boxes doesn’t look like clutter.

3. Increase Home Appeal

It’s important that your home makes a good first impression. To make sure buyers want to see the inside of your home, make sure the outside is well-kept, tidy and inviting. It’s important to touch-up or completely repaint trim, keep the grass cut, edge along sidewalks and paths, maintain flowers and shrubs and keep the yard tidy. You never know when curious buyers will pass by. This is especially important as most impressions are first made online via images and videos. Getting your home to be Instagramable will be key to beat your competition.

4. A Paint job

A paint job can cover the unsightly cracks on the walls due to age and weather. If you decide to do some interior painting, stick to neutral colors. Neutrals don’t distract and they allow potential buyers to imagine their things in your home.

5. Clean up the place.

This may be the most important step you take toward getting your home ready to sell. For a home to live up to the “move-in condition” description, it has to be clean.If you already keep a clean house, simply keep up the good work, checking to make sure you don’t overlook little-used closets and other nooks and crannies that aren’t part of your weekly routine. This needs to be a deep cleaning.

6. Rearrange Your Furniture

Your furniture is arranged the way it best suits you and your family. When you’re staging your home to sell, you’ll need to use your furniture as marketing tools to help create that enhanced appeal. Avoid having furniture lined up along the walls. Pull the sofa away from the wall and pull chairs close to create a conversation area. Also, you may need to remove some furniture so it’s easy for people to walk around in the rooms.

7. Fresh Flowers and Plants

Greens are the cheapest makeover one can find to enhance the interior look. If the weather allows, plant flowers in pots, window boxes or right in the ground to add color and pump up the curb appeal. Pay close attention to the plants, keeping them watered and trimmed.Inside the house, fresh flowers in vases add color, life and the feeling that you, as the home seller, are putting your best foot forward. It may not matter to some buyers but others will appreciate this detail and take it as a sign that your home has been well cared for. The current trend of urban gardening and farming can help push that hesitant millenial buyer make that purchasing decision.

8. Upgrade Lighting

If your lamps and other light fixtures are outdated, consider replacing them with modern ones. Buyers don’t want to feel like they’re taking a step back in time with outdated fixtures. This is an easy fix that will help sell your home.

9. Engage a Professional

At the end of the day, you will need a professional to advise you on the current market in terms of price, stock turnover and trends. There are many DIY avenues to teach you sell your own home but most of the time, they are not as effective and efficient as engaging a competent Realtor to assist you in your home selling. In terms of price, effectiveness and efficiency, it is better to leave it to the professional. He can save you the time and efforts involved in what could be the greatest deal one may deal with in that year or years.

These are simple stuff that won’t cost you a bomb but will definitely increase the appeal of your home and get it sold in double quick time.
ARTIST IMPRESSION - 480 GUILLEMARD ROAD (FINAL)

Image: Artist Impression of a new Detached house for sale in Paya Lebar MRT vicinity.

Guillemard sites poised for redevelopment

Local mid-sized developer Roxy-Pacific Holdings’ associate company RH Guillemard was acquiring two freehold residential sites at 2 and 6 Guillemard Lane for a total price of $33.5 million. The developer plans to combine the two sites with two other freehold sites at 12 and 14 Guillemard Lane for residential development. Roxy-Pacific had announced the acquisition of 12 and 14 Guillemard Lane on Sept 15. The four sites have an estimated total land area of 25,601 sq ft.

Under the 2014 Master Plan, the sites are zoned “residential” and have a gross plot ratio of 2.8. Gullemard Road plies between the Sports Hub and the Paya Lebar MRT station, and has since seen many indie pubs, cafes and restaurants popping up in the area. It is becoming a hip place for nearby local residents. These residents previously may find hard to locate a nice ambience for dining, among the nearby eateries in Geylang area which are either too crowded or some among less desired neighbourhoods.

Guillemard Lane is located in the middle of Guillemard Road, which is near to the popular Old Airport Hawker Centre and is poised to see greater redevelopment spilled over from the Paya Lebar area as well as the Old Airport/Kallang region.

 

Q1 Credit update: Mortgage loans up 20%

Credit Bureau just recently release a report on consumer credit behaviour and how people use credit balances, as well as their payment delinquency and default rates in both secured and unsecured credit facilities. Home loans are examples of secured facilities, while unsecured debt refers to loans with no collateral, like those racked up on credit cards or overdrafts.
The highlights are as follows:

1. Mortgage loan applications rose 20 % in the three months to March 31 from the preceding quarter. The average mortgage for people aged between 21 and 29 had the greatest quarter-on-quarter change among several age groups, rising 3.4 %.

Home loan applications could have been given a boost after the Government tweaked some property cooling measures in early March since the curbs were implemented in 2009. For example the seller’s stamp duty holding period for homes bought from March 11 was shortened to three years from four years. Subsequently the sales of new private homes surged to a near four-year high in March.

2. Motor vehicle loan applications rose 4.13 %. Consumers aged between 30 and 34 had the most significant change in motor vehicle loans, with average borrowings up 5.1 %.

3. Credit card applications fell 5.97 %, while those for personal loans dropped 5.94 %. Credit card applications still made up 72 % of about 331,600 new credit applications across all facilities in the first quarter, with home loans next on 14 %. People aged between 35 and 39 were doing better than others when it came to paying off debts, with their delinquency rate for credit cards falling 5.4 % quarter-on-quarter, while the personal loan rate dropped 8.74 %.

For more details the link to report is as follows

Click to access CBSConsumerCreditReportQ12017.pdf

Q2 Landed homes sale highest since 2012

538 landed homes were sold in the second quarter – this is the highest quarterly volume since the fourth quarter of 2012. Overall, the number of landed homes sold has increased, driven by falling prices and limited supply of landed homes. URA flash estimates released recently indicated that prices of landed residential properties fell further by 0.4 % for Q2, down from a 1.8 % drop in the previous quarter.

The market for good class bungalows (GCBs) is lukewarm although the market for smaller bungalows in GCB areas is on a rise. Good class bungalows (GCBs) are the most prestigious segment of landed property in Singapore.

Geylang Lor 3 to be returned to state

In a first for residential properties in Singapore, 191 private terraced houses in Geylang Lorong 3 will be returned to the state when their leases run out at the end of 2020, with no extension allowed.

For the 33 home owners who are still residing there, time is running out. They will have to hand back vacant units to the Singapore Land Authority (SLA) when their leases run out in 31/2 years, with no compensation.

Only 33 units are owner-occupied. The remaining units are used for religious activities or are rented out to foreign workers when the homes’ original owners moved out over the years.

This is the first time that a residential plot of land will reach the end of its lease. The 2ha plot of land in Geylang Lorong 3 will be earmarked for future public housing, but the SLA did not give a timeline for when the redevelopment process will start or be completed.
 

Make Singapore land Great again! Courtesy of 38 Oxley Road

38 Oxley Road is the top Singapore address in the media right now. What is the big deal about centre of dispute of Singapore’s first Family? How much does this plot of land worth?

Private properties rose to 27% of total housing stock

THE number and proportion of private properties in Singapore grew in the decade between 2006 and last year. The total number of private condominium units and landed homes went up from 243,000 to 372,000 in that time, taking their share of the overall dwelling units from the 22 per cent in 2006 to 27 per cent last year.

Meanwhile, the number of Housing Development Board (HDB) flats grew from 880,000 units to 1,011,000 during the period. But despite this increase, the proportion of HDB flats out of the total housing stock went down from 78 per cent to 73 per cent.

National Development Minister Lawrence Wong unveiled these figures in Parliament. The ratio is “expected to remain stable” over the next few years, with 72 per cent of all dwelling units projected to be HDB flats in 2020.

However, he added, this proportion refers only to the housing stock in Singapore – not the total proportion of people living in flats, which remains at about 80 per cent.