Вы находитесь на странице: 1из 12

Issue 344

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


CONTENTS FROM THE

p2 The 7 Deadly Sins of Singapore Property Buyers


EDITOR
Welcome to the 344th edition of the
Singapore Property Weekly.
p10 Resale Property Transactions
Hope you like it!
(January 15 – January 19) Mr. Propwise

Contribute Advertise
Do you have articles and insights and articles that you’d like to share Want to get your brand, product, service or property listing out to
with thousands of readers interested in the Singapore property thousands of Singapore property investors at a very reasonable
market? Send them to us at info@propwise.sg, and if they’re good cost? Head over to www.propwise.sg/advertise/ to find out more.
enough, we’ll publish them here, on our blog and even on Yahoo!
News.
SINGAPORE PROPERTY WEEKLY Issue 344

The 7 Deadly Sins of Singapore Property Buyers

By Property Soul (guest contributor)

I was recently invited to speak at


the Investors Exchangeorganized by
BIGScribe – a half-day seminar offering retail
investors useful investment advice and
concepts from successful investors.I could
have chosen the title “7 Common Mistakes of
Singapore Property Buyers”, but no one likes
to admit that they have made a mistake.So, I
called it the “7 Deadly Sins” instead to
highlight the sinful “temptations” faced by
many property buyers.

Back to Contents Page | 2


SINGAPORE PROPERTY WEEKLY Issue 344

Sin #1: The “worship” of properties ownership and improvement has long been
flowing in our blood.
Singapore is a property-crazy nation and
Singaporeans are property-obsessed. This could be traced back generations ago
when our ancestors landed on this Little Red
What is the Singapore dream? Firstly, apply
Dot to look for a better life. Once they settled
for an HDB or BTO flat. Then upgrade to an
down and started their families, they wanted
executive condo or private condo after five
to have a place to call home.
years. Next, save enough money for a
second private property for investment. In the last 50 years, Singapore has evolved
from an emerging market to a developed
Can you see that the whole life of a
country. With improved infrastructure, stable
Singaporean revolves around properties? As
economy and easy financing, housing prices
we upgrade from one type of property to the
have multiplied many times.
other, we are also paying off one mortgage to
another until the day we retire. That gives local property buyers the faith (and
illusion) that the value of properties will
Property is our life goal. Property is what we
continue to go through the roof in the coming
live for. We pin ours hopes on property
decades. But we forget that the GDP growth
ownership and investment. Every time after
in this mature country can never go back to
we buy a property, we pray very hard that its
where it was decades ago.
value will go up.In fact, the desire of home

Back to Contents Page | 3


SINGAPORE PROPERTY WEEKLY Issue 344

Sin #2: Looking for free advice If my advice helps you in some way, you will
most likely forget to thank me. If the advice
As a property blogger, a common message I
influences you to make the wrong decision,
receive in my mailbox reads like this: “I am a
you will conveniently put the blame on me.
44-year-old with two school-going children.
Our monthly household income is $xx,xxx Time is a precious resource for all of us so it’s
and we have a combined savings of $xxx,xxx. best invested in activities that reap
We have an outstanding loan of $xxx,xxx for measurable returns (both for you and me). If
our 4-room HDB flat and we are planning to you’re about to make a million (or multi-
upgrade to a condo (or buy a private property million) dollar decision, would asking for free
for investment). Do you think it’s the right time advice be in your best interest?
to buy? What do you think about condo X and
Ask yourself: When you need advice for a big
condo Y? Which layout is a better buy…”
business deal or in a tricky lawsuit, will you go
Do you know the problem with asking for free for paid professional advice, or just settle for
advice? Because I don’t know you, I can only free advice?
offer you general advice based on
Sin #3: The herd mentality
assumptions. Because it is free advice, I
know you will either take it at face value or Do you know Singapore’s national sport?
trust me half-heartedly and forget about the Swimming? No. Running marathons? No.
whole thing. Shopping? Try again.

Back to Contents Page | 4


SINGAPORE PROPERTY WEEKLY Issue 344

Queuing is what we are good at. With asking prices as high as $4,300 to
$7,000psf, all except two of the 116 shop
It is a no-brainer to join the longest queue in
units in Alexandra Central were snapped up
front of the hawker stalls because the food
on the first day of launch. An upper floor unit
must be good. Any hawker can get ten people
under 200 sq ft attracted 150 cheques from
to stand in front of his stall to draw another
buyers.
ten “real customers” joining at the end of the
queue. But two years after the mall was opened,
buyers had to face dismal occupancy rates,
We like to play safe and go along with others.
poor (or non-existent) rental yields and low
Who wants to be a guinea pig when buying
footfalls.
big ticket items like properties? The bigger
the crowd in the sales gallery, the better buy Another hot project J Gateway was released
the new project is. with a record-breaking price of $1,450 to
$1,800 psf in Jurong on that fatal date of 28
A lot of property buyers are not aware that it
June 2013. A total of 1,400 blank cheques
is the job of the marketing agent to ensure
were submitted for balloting. Buyers booked
that the carpark, showflats and discussion
their units but returned home only to find that
tables must look full during the first weekend
the government introduced the infamous Total
of the new launch.
Debt Servicing Ratio that evening.
But reality is cruel.

Back to Contents Page | 5


SINGAPORE PROPERTY WEEKLY Issue 344

The two incidents are nothing new. The same quote anyone outside the herd or anti-herd.”–
thing happened before when buyers entered Ken Fisher, Beat the Crowd: How You Can
at the peak of the property market in droves Out-Invest the Herd by Thinking Differently
in 1995, 2000 and 2007.
Property buyers tend to trust what is
Many people buy properties under ignorance published in the media, which unavoidably
and greed with the “kiasu” or herd mentality. It has a tendency to interview all the industry
is ironic that we find it easier to accept our stakeholders and quote their comments in
investment loss than to realize that we catchy headlines.
missed a buying opportunity. Even though we
This is no different from asking the
regret the wrong purchase, it is a “relief to
fishmongers whether the fish is fresh today. It
see that there are many people who are in
is equally awkward to ask anyone working in
the same boat.”
the property industry questions that obviously
Sin #4: Trust the media and conventional attract answers with vested interests.
wisdom
“Humans accumulate a lot of knowledge, and
“Mass media reflects and also influences 95 percent of that knowledge is not true.
sentiment, and most of it has become steadily Instead of using knowledge as a tool for
more groupthink … Modern media makes it communication, we become puppets of
pretty easy to spot widely held beliefs and knowledge.
mass sentiment. The media will only rarely

Back to Contents Page | 6


SINGAPORE PROPERTY WEEKLY Issue 344

We give life to that knowledge, and that be clear-headed to avoid making the same
knowledge begins to create a lot of drama mistakes that everyone else is making.
and suffering because it isn’t based on
Sin #5: Avoiding legwork
truth.”– Don Miguel Ruiz, The Four
Agreements Companion Book We can spend hours and hours researching
and test-driving while shopping for our next
When it comes to buying our homes, we tend
car. But buying a home can be a very
to trust conventional wisdom, without verifying
different story.
the facts behind those traditional beliefs.
These include but are not limited to: We limit our choices to new projects being
advertised at that time. We walk inside a
– Freehold is better than leasehold
sales gallery and book a unit in an hour’s
– Brand new is better than resale properties time. We follow the property agent to eight to
ten places and find that they look the same.
– Any time is a good time to buy
Why waste time on more viewing
– Property prices will always go up appointments?
– Putting money in properties is better than There may be over 10,000 resale
putting money in banks transactions of private residential properties
It’s better to be slapped with the truth than this year. How many buyers have done their
kissed with a lie. Do your own research and homework to study Singapore’s property

Back to Contents Page | 7


SINGAPORE PROPERTY WEEKLY Issue 344

cycles, past transactions and government As a conservative value investor, I bought all
policies in last three decades? How many my private properties strictly in compliance
bother to do their personal research to look with my 3-3-5 rule. I know many buyers who
for a good bargain, housing loan, property can do the same, if not better.
agent, or conveyancing lawyer?
And don’t forget that I bought and profited
I cannot stress this point more – to make a from mortgagee sale and fire sale properties
sound property-related decision, you have to before, from buyers or investors who
do all the necessary homework which overcommitted or overstretched in a boom
requires time, effort and patience. market. I certainly hope that you won’t be the
next one.
Sin #6: Overstretch financially
Sin #7: Fantasize about being landlords
We listen to the media, property agents and
bankers who show us how we can afford our Remember the Singapore dream of buying a
dream home. We are motivated when we see second private property for rent? Or staying
other property buyers with equal or lower in a newly bought condo while renting out our
affordability going into the market now. HDB flat for passive income? To many, this is
an important step to financial freedom and
That’s why many feel like they are slapped
early retirement.
when I share the 3-3-5 housing affordability
rule.

Back to Contents Page | 8


SINGAPORE PROPERTY WEEKLY Issue 344

Whenever I go for a flat viewing, I ask the It is certainly a rewarding experience to be a


property agent why the owner is selling. An landlord. But make sure you learn all the tips
answer I often get is: It is not easy to be a and tricks before you look for a tenant.
landlord. The owner finds that there is too
By guest contributor Property Soul, a
much hassle managing the tenants,
successful property investor, blogger, and
compared with the humble rent he collects.
author of the No B.S. Guide to Property
I wrote a previous blog post on “Dealing with Investment.
4 types of tenants from hell”. The reality is:
Tenants from hell are not limited to four types,
but with infinite possibilities.

There is no “Being a Landlord 101” manual


out there offering one-size-fits-all solutions for
all aspiring landlords out there. There are
many things to learn – sometimes through
hands-on experience, others through painful
experience. Above all, you need the right
character and knowhow to be a good
landlord.

Back to Contents Page | 9


SINGAPORE PROPERTY WEEKLY Issue 344

Non-Landed Residential Resale Property Transactions for the Week of Jan 15 – Jan 19

Postal Area Transacted Price Postal Area Transacted Price


Project Name Tenure Project Name Tenure
District (sqft) Price ($) ($ psf) District (sqft) Price ($) ($ psf)
3 THE CREST 947 1,798,000 1,898 99 10 THE MARBELLA 1,582 2,588,888 1,636 FH
3 THE CREST 1,216 2,142,000 1,761 99 10 GLENTREES 1,711 2,550,000 1,490 999
3 THE METROPOLITAN CONDOMINIUM 1,787 2,110,000 1,181 99 11 VIVA 2,992 6,000,000 2,005 FH
4 CARIBBEAN AT KEPPEL BAY 926 1,520,000 1,642 99 11 LINCOLN SUITES 1,098 2,180,000 1,986 FH
4 CARIBBEAN AT KEPPEL BAY 1,335 2,050,000 1,536 99 11 ADRIA 850 1,500,000 1,764 FH
4 THE INTERLACE 1,066 1,368,888 1,285 99 11 NOVENA HILL 710 918,000 1,292 FH
5 THE MAYLEA 990 1,368,888 1,382 FH 12 TRELLIS TOWERS 840 1,370,000 1,632 FH
5 SEAHILL 1,130 1,510,000 1,336 99 12 TREVISTA 915 1,220,000 1,333 99
5 CARABELLE 947 1,220,000 1,288 956 12 TREVISTA 1,733 2,050,000 1,183 99
5 HUNDRED TREES 1,302 1,630,000 1,251 956 12 VETRO 474 560,000 1,182 999
5 BOTANNIA 1,270 1,415,000 1,114 956 13 BARTLEY RIDGE 969 1,340,000 1,383 99
8 CITYLIGHTS 678 1,100,000 1,622 99 13 8@WOODLEIGH 958 1,275,000 1,331 99
8 CITY LOFT 344 506,500 1,470 FH 14 SIMS EDGE 409 600,000 1,467 FH
8 SUITES 123 581 780,000 1,342 FH 14 ASTORIA PARK 1,173 1,055,000 899 99
8 R66 APARTMENTS 581 776,000 1,335 FH 14 SIMSVILLE 1,238 1,105,000 893 99
8 THE MERLOT 883 1,050,000 1,190 FH 15 THE ARISTO @ AMBER 646 1,250,000 1,935 FH
9 THE COSMOPOLITAN 1,141 2,450,000 2,147 FH 15 MODA 969 1,520,000 1,569 FH
9 ESPADA 646 1,350,000 2,090 FH 15 448@EAST COAST 431 665,000 1,545 FH
9 THE TRILLIUM 1,399 2,870,000 2,051 FH 15 RIVEREDGE 1,593 2,195,000 1,378 99
9 111 EMERALD HILL 2,120 4,290,000 2,023 FH 15 POSHGROVE EAST 1,432 1,850,000 1,292 FH
9 MACKENZIE 88 710 955,000 1,344 FH 15 FORTUNE JADE 1,216 1,450,000 1,192 FH
10 THE NASSIM 6,598 17,000,000 2,576 FH 15 MANDARIN GARDENS 829 968,000 1,168 99
10 THE ORANGE GROVE 2,960 6,500,000 2,196 FH 15 MANDARIN GARDENS 829 960,000 1,158 99
10 RV RESIDENCES 850 1,785,000 2,099 999 15 CRESCENDO PARK 1,711 1,855,000 1,084 FH
10 ONE JERVOIS 1,324 2,300,000 1,737 FH 15 TIVOLI GRANDE 1,528 1,650,000 1,079 FH

Back to Contents Page | 10


SINGAPORE PROPERTY WEEKLY Issue 344

Postal Area Transacted Price Postal Area Transacted Price


Project Name Tenure Project Name Tenure
District (sqft) Price ($) ($ psf) District (sqft) Price ($) ($ psf)
15 N.A. 1,163 1,046,700 900 FH 20 BISHAN 8 1,163 1,270,000 1,092 99
15 THE GERANIUM 1,582 1,370,000 866 FH 20 THE GARDENS AT BISHAN 1,227 1,250,000 1,019 99
16 COSTA DEL SOL 1,561 2,050,000 1,313 99 21 THE CASCADIA 883 1,460,000 1,654 FH
16 WATERFRONT WAVES 1,550 1,750,000 1,129 99 21 THE NEXUS 1,195 1,800,000 1,507 FH
16 EAST VILLAGE 1,195 1,100,000 921 FH 21 SYMPHONY HEIGHTS 1,152 1,168,000 1,014 FH
16 KEW GREEN 3,369 1,775,000 527 99 22 THE LAKEFRONT RESIDENCES 1,055 1,239,999 1,175 99
17 HEDGES PARK CONDOMINIUM 484 520,000 1,074 99 22 CASPIAN 1,238 1,345,000 1,087 99
17 PARC OLYMPIA 646 675,000 1,045 99 22 PARC OASIS 1,378 1,250,000 907 99
17 BLUWATERS 2 958 860,000 898 946 23 ECO SANCTUARY 753 975,000 1,294 99
17 BALLOTA PARK CONDOMINIUM 1,066 788,000 739 FH 23 ESPA 850 1,032,000 1,214 999
18 MODENA 1,356 1,280,000 944 99 23 THE LINEAR 1,238 1,050,000 848 999
18 DOUBLE BAY RESIDENCES 1,819 1,620,000 891 99 23 NORTHVALE 1,270 925,000 728 99
18 LIVIA 1,345 1,150,000 855 99 26 THE CALROSE 1,442 1,950,000 1,352 FH
18 CHANGI RISE CONDOMINIUM 1,496 1,140,000 762 99 26 BULLION PARK 807 860,000 1,065 FH
18 OASIS @ ELIAS 1,249 918,000 735 99 27 EIGHT COURTYARDS 861 850,000 987 99
18 MELVILLE PARK 1,475 920,000 624 99 27 EIGHT COURTYARDS 1,152 1,060,000 920 99
19 MIDTOWN RESIDENCES 635 830,000 1,307 99 28 MIMOSA PARK 2,153 1,938,000 900 FH
19 CARDIFF RESIDENCE 420 540,000 1,286 99 28 SUNRISE GARDENS 1,453 1,140,000 785 99
19 KOVAN RESIDENCES 883 1,070,000 1,212 99 28 SELETAR SPRINGS CONDOMINIUM 1,302 875,000 672 99
19 PARC CENTROS 1,163 1,260,000 1,084 99
19 THE MINTON 1,496 1,618,888 1,082 99
NOTE: This data only covers non-landed residential resale property
19 THE MINTON 1,755 1,785,000 1,017 99
transactions with caveats lodged with the Singapore Land Authority.
19 THE MINTON 980 950,000 970 99 Typically, caveats are lodged at least 2-3 weeks after a purchaser
19 THE QUARTZ 1,066 1,010,000 948 99 signs an OTP, hence the lagged nature of the data.
19 COMPASS HEIGHTS 1,324 1,088,000 822 99
19 KOVAN RESIDENCES 3,563 2,780,000 780 99
19 EVERGREEN PARK 1,249 845,000 677 99
20 THOMSON GRAND 1,765 2,000,000 1,133 99

Back to Contents Page | 11

Вам также может понравиться