At least four GCB deals sealed since start of the year

At least four properties in Good-Class Bungalow (GCB) areas have been transacted so far this year.

Among the latest is a bungalow along Peirce Road that has changed hands for almost S$24 million. The price works out to S$1, 479 per square foot (psf) based on the freehold land area of 16, 224 square feet.

Located in the Ridout Park GCB area, the two-storey property is understood to have been bought by Tan See Leng, managing director and chief executive officer of IHH Healthcare Bhd. It was previously transacted a decade ago, in April 2006, for S$9. 5 million, according to SISV REALink caveats information.

Other recent transactions in GCB areas include a property at Mount Echo Park in the Chatsworth Park GCB area, sold at S$22. 25 million or S$1, 322 psf on 16, 826 sq ft of freehold land.

Along Yarwood Avenue, a GCB on a 16, 163 sq ft plot has fetched S$15. 7 million – translating to S$971. 35 psf.

Last month, The Business Times reported that upscale property developer Simon Cheong sold a King Albert Park bungalow that the guy built quite a while ago. The value was S$25 million (S$1, 493 psf on a area area of 12, 750 sq ft).

The home or property of about 10, 000 sq toes in built-up area was bought by means of Fang Koh Look, the founder of Absolute Kinetics Consultancy, gives workplace safe practices training and medical products and services in addition to distributing mobile phone pre-paid memory cards.

More than S$700 million of deals had been transacted on GCB areas last year, exceeding beyond the S$626 million on 2014.

GCB prices are actually estimated to obtain declined regarding 10 to fifteen per cent not too long ago. Prices need to continue styling down during the first 50 % of this year during the absence of any sort of positive government, before stabilizing in the second half.

The silver blackout lining is that the number of transactions will be better in 2016 amid an even better matching of price objectives between sellers and buyers.

Resell condos opting for under $1m – and never all are shoebox units

The Visionaire Sembawang EC is an ec with smart home concept. For ec, Northwave Woodlands are also having it pool of buyers.Programmers may be grumbling about the cooling steps, but for purchasers they mean deals can be found in the private house resale marketplace – at $1 million or even much less.

For instance, the proportion of freehold or perhaps 999-year leasehold homes re-sold at this price point rose coming from just six per cent coming from 2010 towards the end of 2013, to 17 per cent in the period from 2014 to this month.

And if you imagine these types of homes were all shoebox-size, you would be wrong. Some large units on good spots such as Bayshore Road have been completely selling during this amount.

The tide has turned, a number of years after the Total Debt Repairing Ratio (TDSR) was carried out in mid-2013.

In 2010 to 2012, $1 million must have been a sort of ordinary or envisioned price to pay, and it was extremley unlikely buyers could easily get something suitable for less than the fact that. Now, opportunistic buyers are actually referencing them as a limit price. They are simply scouring just for properties clearly lower than $1 million. It happens to be still quite hard to acquire these promotions, but unquestionably much easier than ever, noted a great analyst.

Those value tends to buy are typically that comes with the resale current market, he talked about.

Property owners just who bought previous to home price ranges spiked right from about 2010 can still profit, even on current stressed property current market conditions. Also those who purchased in 2010 to 2012 may perhaps still be able to make your money back as price ranges peaked on 2013.

The purchase price gap among resale houses and lately completed or perhaps new assignments is still about 20 per cent or twenty-five per cent.

Still buying a resell property does mean financing kicks in right away, which means your buyer who will be an investor need to contend with the soft local rental market.

According to SRX data, projects with or nearby the central location with products going for lower than $1 mil include Citylights in Jalan Besar, Smailus and The Tier in Novena, The Interweave in Balestier, RiverBay with Bendemeer, MOTORHOME Edge with Tanglin and Wilkie 70 in Dhoby Ghaut.

Inside the popular East Coast, this kind of projects consist of Questa @ Dunman and also the Bayshore with Upper East Coast.

Additional bargains could be found in the auction industry, where even more mortgagee sales and profits are taking destination.

Since the start of fourth district of in ’09, units regarding auction with opening selling prices of not as much as $1 million dollars included some 527 sq ft item at the freehold Dunearn Suite, an master’s sale; as well as mortgagee sale of a 790 sq legs walk-up dwelling in Tiong Bahru.

Mortgagee sales needs to be on a fixed uptrend this and sometimes exceed 270 in amount, more than the amount recorded while in the global financial crisis for 2008.

The rising rate of will add more further overload on applicants, particularly for the ones holding multiple properties. Yet , the details are not is actually spike when the recruitment rate for Singapore continues high, this enables most keepers to service most of their mortgage loans.