Issue 273

Copyright 2011-2016 www.propwise.sg. All Rights Reserved.

CONTENTS
p2

FROM THE

EDITOR

3 Reasons Why We Shouldnt Leave

Welcome to the 273th edition of the

Singapore Property Weekly.

Properties for Our Children

Hope you like it!

p7

Singapore Property News This Week

p9

Resale Property Transactions

Mr. Propwise

(August 1 August 5)

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SINGAPORE PROPERTY WEEKLY Issue 273

3 Reasons Why We Shouldnt Leave Properties

for Our Children
By Property Soul (guest contributor)

Times flies. My younger girl just turned five

today. I still remember my old blog post "A
letter to my new born baby" I feel like I just
wrote that yesterday. Five years on, when her
little hand reaches for mine; when she holds
me tight and plants a big kiss on my lips;
when she looks me in the eyes and says
Mommy I love you, I realize I must have
done something really right in my last life.
Wherever I travel, I buy her stickers printed
with her favorite cartoon characters. We often
review our proud collection together, recalling
when, where and how much we got them.

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SINGAPORE PROPERTY WEEKLY Issue 273

With fellow property investors, we review a
different collection our portfolio of properties
acquired over the years - recalling when,
where and how much we got them.
Buying properties for our children
Sometimes we talk about buying properties
for our children. One would have bought a
bachelor pad for the son. Another plans to set
aside two houses for each of the two kids.
Some are waiting for the lifting of the
Additional Buyer Stamp Duty to buy
something suitable. A few are saving for the
deposit.
When I ask people why we have to help our
kids to buy properties, the three most
common reasons are:
1. Property prices have climbed faster than
inflation. Their children might not be able to
afford one in the future.
Back to Contents

2. We love our kids and give them only the

best, including food, clothes, housing and
education. Why not properties?
3. When we pass on one day, its good to
leave something behind so that they will
remember us.
If we can afford, why not?
For me, I am hesitant to give any property to
my children for three simple reasons:
1. Hopefully they inherit the property
investment gene from me. If not, so be it.
2. We can lead a happy life even without
having the very best. Things we treasure
most almost always have nothing to do with
money.
3. It is far more important to impart values
and wisdom to the next generation.

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SINGAPORE PROPERTY WEEKLY Issue 273

What I want to leave behind is a legacy not
a physical property, but my vision and beliefs.
I hope they remember me for who I am. Who
cares about an old property with an
outstanding loan and desperately needs a
major renovation?
You might worry about not buying any
property for your children even though you
can afford it. If you die without leaving
anything for them, they might blame you one
day. But wait, by that time you have already
died. So thats not a problem anymore, isnt
it?
In my book No B.S. Guide to Property
Investment, I have touched on the legal
implications for you and your children if you
are buying properties for the next generation.

Back to Contents

Advice for the elderly

One of my favorite Taiwanese writers Liu
Yong () has just published his latest book
to share his advice for the elderly. He has
been staying in the US for some time now. He
says if you tell a lawyer that you want to put
your property under your childs name, the
lawyer will ask you to add one special clause:
you no longer own the property but you
always have the right to stay there.
One day your child will get married. You have
no guarantee that you can get along with your
son- or daughter-in-law. With that special
clause, at least you wont end up in an old
folks home.

Another piece of advice: if you want to share

your wealth with your children, do it early and
in a timely manner. Our life expectancy is
getting longer.
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SINGAPORE PROPERTY WEEKLY Issue 273

By the time we pass on, our next generation
are most likely in their 60s. They no longer
need that wealth in their retirement years. But
they wish they had that when they were
struggling to pay the bills while supporting a
young family.
Another dilemma: You tell your children to
study hard, get a good job and they will be
able to enjoy what they have later in life.
Don't be surprised that they will ask you why.
If you have already bought them a nice place
to ensure that they will have a good life, why
do they need to study hard and get a job?
Mire tips from The Millionaire Next Door
Lastly, you might want to take some tips from
the book The Millionaire Next Door to
understand how the millionaires manage to
raise successful adult children.

Back to Contents

1. Never tell children that their parents are

wealthy.
2. No matter how wealthy you are, teach your
children discipline and frugality.
3. Make sure your children dont realize
youre affluent until after they have
established a mature, disciplined, and adult
lifestyle and profession.
4. Minimize discussions of the items that each
child and grandchild will inherit or receive as
gifts.
5. Never give cash or other significant gifts to
your adult children as part of a negotiation
strategy.

6. Stay out of your adult childrens family

matters.

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SINGAPORE PROPERTY WEEKLY Issue 273

7. Dont try to compete with your children.
8. Always remember that your children are
individuals.
9. Emphasize your childrens achievements,
no matter how small, not their or your
symbols of success.

10. Tell your children that there are a lot of

things more valuable than money.
Really, you dont have to leave your children
a legacy. They are your legacy!
By Property Soul, a successful property
investor and enthusiast who shares her
experiences and knowledge on her blog.

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SINGAPORE PROPERTY WEEKLY Issue 273

Singapore Property This Week

Residential
Rent for non-landed
continues to fall

private

homes

Rent for non-landed private homes in

Singapore continued to slip in July, especially
in the suburban region, based on estimates
by SRX Property. It is predicted that leasing
volume will fall further, as rents fall even
more. Experts have also noted that landlords
have become flexible in a highly competitive
market where tenants have more options and
have smaller budgets.
(Source: Business Times)

Back to Contents

Condo resale value increased by 6.2%

yoy in July
Despite a 0.5 per cent month-on-month
decline in resale prices of condos and
apartments in the Core Central Region (CCR)
in July 2016, prices in the region were up 6.2
per cent year on year, according to SRX
Property flash estimates for last month
released on Wednesday. The sub-index for
the Rest of Central Region (RCR) for July
2016 increased by 0.5 per cent from July
2015, while the sub-index for Outside Central
Region (OCR) shrank by 2.8 per cent.
(Source: Business Times)

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SINGAPORE PROPERTY WEEKLY Issue 273

Commercial
The Agape up for sales

The Agape is a three-storey building with a

basement carpark and is up for sale by
expression of interest. The guide price ranges
from S$8 million to S$10 million. Located at
21 Yung Ho Road, it is located directly
opposite
the
entertainment
complex
Superbowl and near Jurong Gateway. The
building has a land area of 62,087 sq ft and a
gross floor area of about 80,676 sq ft. The
Agape is particularly attractive for investors
as it is one of the few stand-alone buildings
up for sales.
(Source: Business Times)

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SINGAPORE PROPERTY WEEKLY Issue 273

Non-Landed Residential Resale Property Transactions for the Week of Aug 1 Aug 5
Postal
District
3
4
4
4
4
4
5
5
5
5
5
5
5
5
7
9
9
9
9
9
9
9
9
9
10

Project Name
THE REGENCY AT TIONG BAHRU
SKYLINE RESIDENCES
REFLECTIONS AT KEPPEL BAY
SKYLINE RESIDENCES
THE OCEANFRONT @ SENTOSA COVE
THE INTERLACE
HERITAGE VIEW
THE GRANDHILL
VENTANA
DOVER PARKVIEW
MENDON SPRING
VARSITY PARK CONDOMINIUM
TREASURE PLACE
WESTCOVE CONDOMINIUM
SOUTHBANK
HILLTOPS
HILLTOPS
OUE TWIN PEAKS
MARTIN PLACE RESIDENCES
CITYVISTA RESIDENCES
URBANA
SCOTTS HIGHPARK
8 @ MOUNT SOPHIA
WILKIE COURT
ARDMORE THREE

Back to Contents

Area
(sqft)
1,281
484
1,367
1,475
1,711
2,325
1,163
1,841
1,270
936
1,055
2,013
2,120
1,292
592
829
1,184
549
592
2,142
1,012
3,466
1,464
980
1,776

Transacted
Price ($)
2,030,000
1,000,000
2,428,000
2,600,000
2,610,000
2,308,000
1,382,000
2,030,000
1,388,000
960,000
1,000,400
1,850,000
1,940,000
990,000
905,000
2,756,700
3,482,000
1,361,600
1,370,000
4,455,360
1,800,000
5,900,000
2,130,000
1,298,000
6,807,395

Price
Tenure
($ psf)
1,585
FH
2,064
FH
1,776
99
1,763
FH
1,525
99
993
99
1,189
99
1,103
FH
1,093
FH
1,025
99
948
FH
919
99
915
FH
766
99
1,529
99
3,326
FH
2,941
FH
2,480
99
2,314
FH
2,080
FH
1,779
FH
1,702
FH
1,455 103
1,325
FH
3,833
FH

Postal
District
10
10
10
10
10
10
10
10
10
10
10
10
10
11
11
11
11
12
12
13
14
14
14
15
15

Project Name
ARDMORE THREE
GOODWOOD RESIDENCE
RV RESIDENCES
D'LEEDON
THE CAPRI
D'LEEDON
D'LEEDON
D'LEEDON
MUTIARA VIEW
THE TRIZON
WATERFALL GARDENS
D'LEEDON
THE SERENADE @ HOLLAND
TRILIGHT
ROCHELLE AT NEWTON
AMARYLLIS VILLE
WATTEN ESTATE CONDOMINIUM
SKYSUITES17
THE VERVE
WOODSVILLE 28
WATERBANK AT DAKOTA
WATERBANK AT DAKOTA
THE VINES
THE BELVEDERE
THE SEA VIEW

Area
(sqft)
1,776
2,928
420
1,076
764
1,679
2,239
1,518
1,173
2,260
4,844
2,153
1,507
2,099
1,862
980
2,594
355
818
1,184
1,141
883
1,055
1,012
1,216

Transacted
Price ($)
6,738,035
7,180,000
916,000
1,721,000
1,200,000
2,522,000
3,360,000
2,256,000
1,688,000
3,200,000
6,700,000
2,861,000
1,760,000
3,500,000
2,700,000
1,380,000
2,850,000
580,000
905,000
1,265,000
1,700,000
1,230,000
1,048,000
1,625,000
1,805,000

Price
Tenure
($ psf)
3,794
FH
2,452
FH
2,182 999
1,599
99
1,570
FH
1,502
99
1,501
99
1,486
99
1,439
FH
1,416
FH
1,383
FH
1,329
99
1,168
99
1,667
FH
1,450
99
1,409
99
1,099
FH
1,633
FH
1,106
FH
1,068
99
1,490
99
1,394
99
993
FH
1,606
FH
1,484
FH

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SINGAPORE PROPERTY WEEKLY Issue 273

Postal
District
15
15
15
15
15
15
15
15
16
17
18
18
18
18
19
19
19
19
19
19
19
19
19
20
20
20
21

Project Name
THE SHORE RESIDENCES
THE ATRIA AT MEYER
AURALIS
KING'S MANSION
PINEHURST CONDOMINIUM
COSTA RHU
PALM OASIS
RITZ REGENCY
BLEU @ EAST COAST
BALLOTA PARK CONDOMINIUM
EASTPOINT GREEN
LIVIA
EASTPOINT GREEN
TAMPINES COURT
PARK RESIDENCES KOVAN
KOVAN MELODY
THE QUARTZ
ROSALIA PARK
CENTRAL VIEW
COMPASS HEIGHTS
CHUAN PARK
CHUAN PARK
FLORENCE REGENCY
GOLDENHILL PARK CONDOMINIUM
GRANDEUR 8
FAR HORIZON GARDENS
GARDENVISTA

Back to Contents

Area
(sqft)
1,292
1,475
732
1,604
1,690
4,036
1,453
3,143
1,012
1,442
958
1,324
1,141
1,711
355
1,227
1,152
1,518
1,216
1,399
1,981
1,496
1,679
1,335
1,227
1,948
1,345

Transacted
Price ($)
1,760,000
1,810,000
875,000
1,900,000
1,665,000
3,850,000
1,220,000
2,400,000
1,150,000
888,000
788,000
1,050,000
890,000
941,000
592,000
1,200,000
1,100,000
1,200,000
955,000
1,020,000
1,400,000
1,000,000
920,000
1,750,000
1,360,000
1,330,000
1,700,000

Price
Tenure
($ psf)
1,363 103
1,227
FH
1,195
FH
1,185
FH
985
FH
954
99
840
FH
764
FH
1,137
FH
616
FH
823
99
793
99
780
99
550
101
1,667
FH
978
99
955
99
791
FH
785
99
729
99
707
99
668
99
548
103
1,311
FH
1,108
99
683
99
1,263
99

Postal
District
21
21
21
21
22
22
22
22
23
23
23
26
27
28

Project Name
PINE GROVE
PINE GROVE
PINE GROVE
PINE GROVE
PARC OASIS
PARC VISTA
LAKEHOLMZ
LAKESIDE TOWER
GLENDALE PARK
HILLVIEW REGENCY
REGENT GROVE
MEADOWS @ PEIRCE
THE MILTONIA RESIDENCES
SELETAR SPRINGS CONDOMINIUM

Area
(sqft)
1,755
1,173
1,163
1,744
1,507
1,055
1,582
1,970
1,410
1,119
926
915
1,518
1,302

Transacted
Price ($)
1,420,000
910,000
890,000
1,080,000
1,250,000
870,000
1,280,000
970,000
1,470,000
915,000
740,000
970,000
1,200,000
920,000

Price
Tenure
($ psf)
809
99
776
99
766
99
619
99
829
99
825
99
809
99
492
99
1,042
FH
817
99
799
99
1,060
FH
791
99
706
99

NOTE: This data only covers non-landed residential resale property

transactions with caveats lodged with the Singapore Land Authority.
Typically, caveats are lodged at least 2-3 weeks after a purchaser
signs an OTP, hence the lagged nature of the data.

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