Singapore Property Weekly Issue 105

7/30/2019 Singapore Property Weekly Issue 105

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Issue 105Copyright 2011-2013 www.Propwise.sg. All Rights Reserved.
http://www.propwise.sg/http://www.propwise.sg/


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CONTENTS

p2 All Property Developers are Liars?

p8 Property Renting Tip #10: Rental Income

from Property

p9 Singapore Property News This Week

p11 Resale Property Transactions

(May 8 May 13)

Welcome to the 105th edition of the

Singapore Property Weekly.

Hope you like it!

Mr. Propwise

FROM THE

EDITOR
mailto:[email protected]://www.propwise.sg/advertise/http://www.propwise.sg/advertise/mailto:[email protected]


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SINGAPORE PROPERTY WEEKLY Issue 105

Page | 2Back to Contents

By Property Soul (guest contributor)

I was reading Seth Godins book All

Marketers are Liars. Although I am a veteran

marketer myself, being a liar has never

crossed my mind. In his book, Godin talks

about the power of telling authentic stories ina low-trust world. I know not everyone who

read my posts agree with what I say. But Im

not a property developer, real estate

marketer, property agent, conveyancing

lawyer or mortgage banker. Im not selling

you a get-rich-quick book, or a propertyinvestment seminar. Thats why I am free to

say what I believe, without having to look at

the bottom line or worrying too much about

being liked.

All Property Developers are Liars?


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Have you been brainwashed by

conventional property wisdom?

Of course, I understand what kind of

messages can please the largest audience,

drive the most traffic and sign up the most

followers. You know the conventional

wisdoms that you always hear from people

such as:

- Buy HDB first, then upgrade to a condo,

before settling in a landed home- Freehold is better than leasehold

- Anytime is a good time to buy

- Properties prices will always go up in the

long-term

- The market cannot collapse because ofdemand from foreigners

- Mickey mouse units are the trend of the

future

They may not be the truth. But they make up

the average Singaporeans view on properties

Marketers lie

Godin said in All Marketers are Liars,Identify a population with a certain

worldview, frame your story in terms of

that worldview and you win.

A worldview is not what you are. Its

what you believe. Its your biases.

A worldview is not forever. Its what the

consumer believes right now.

Thats why you see property ads on TV or in

the local papers with images completely

irrelevant to the development:

- A young family running at the beach

- A sexy lady swimming or resting by the pool


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- A group of yuppies sipping wine in a bar

- Two well-dressed Caucasians overlooking

the fantastic night view

Fantasy vs. reality in property ads

Whereas the reality is:

- The condo is most likely far from the beach,

with a pool too small and frequented often by

too many noisy kids.

- Your unit most likely comes with a blocked

view. Its size makes it unrealistic to fit in a bar

counter.

- Expatriates are most likely not interested to

move into an area inhabited mostly by locals.

But developers are selling you a dream, not a

commodity.

And because its a consumers fantasy, they

are not obliged to tell just the boring facts, but

are inclined to expand your imagination with

an artists impression in an abstract

wonderland.

As Godin said:

Successful marketers are just the

providers of stories that consumers choose to

believe.

Property ads: then vs. now

I would like to end this post with a comparison

of property launch advertisements in the

Singapore papers in 1985-6 versus 2012.


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Take a look and let me know what you think.


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By Property Soul, a successful property

investor and enthusiast who shares her

experiences and knowledge on her blog.

SINGAPORE PROPERTY WEEKLY I 105
http://propertysoul.com/http://www.crei-academy.com/choose-to-invest-safely-profitably/http://propertysoul.com/http://propertysoul.com/http://propertysoul.com/


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SINGAPORE PROPERTY WEEKLY I 105
http://www.propwise.sg/adv-how-to-earn-a-24-fixed-return-in-24-months-and-get-a-piece-of-donald-trump/


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(Reference: www.iras.gov.sg)

Rental income is taxable in

Singapore.However, there are expenses that

you can deduct from your rental income:

Interest on mortgage loan

Property tax

Fire insurance

Commission paid on getting a subsequent

Tenant

Cost of renewing a lease or getting a new

Tenant and

General repairs and monthly maintenance

charges paid to the Management

Committee

Below are expenses that cannot be deducted

from your rental income:

Any expenses incurred outside the

tenancy period

Mortgage or bank loan repayment i.e. the

principal repayment

Agents commission, advertising, legal

costs for getting the firstTenant

Depreciation of furniture and fittings and

Cost of renovation, additions and

alterations to the propertyBy Eileen Tan and Ui Wei Teck, property

investors and authors ofEnjoying Mid-Life

Without Crisis. This tip and dozens more

are from theirbook.

Property Renting Tip #10: Rental Income from Property

http://www.iras.gov.sg/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://aktive.com.sg/store/enjoying-mid-life-without-crisis/http://www.iras.gov.sg/http://www.iras.gov.sg/http://www.iras.gov.sg/http://www.iras.gov.sg/http://www.iras.gov.sg/http://www.iras.gov.sg/http://www.iras.gov.sg/


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Singapore Property This Week


Residential

Private home deals see a slip in

foreigners share

Foreigners share in private home

transactions slipped to 20.8% in April,

following the recovery to 26.7% in March

from Febs 23.3% and Jans 28%.

Conversely, Singaporeans share saw the

highest monthly share in a year an increase

from 72.5% in March to 78.3% in Apr. On a

quarterly basis, the total number of private

home caveats lodged fell 34.4% (8,725 in

4Q12 to 5,721 in 1Q13). Caveats by

Singaporean buyers declined 36.6% quarter

on quarter to 4,153 in Q1 while those by

foreigners only fell by 25.3%. It is predicted

that there will be more Singaporean buyers

for 2Q and 3Q13. Knight Frank noted that

China buyers retained their no.1 position in

their share of the foreigner buyer pie (from

25% in 4Q12 to 29.6% in 1Q13).

2 housing projects ready for preview

Two north-eastern properties in Singapore

are set for preview this Vesak Day weekend.

One is a condominium project by CDL at

Jewel @ Buangkok, within walking distance

to Buangkok MRT station. The development

has 99-year leasehold 15-17-storey towers

totaling 616 units with one bedroom (463 sq

ft) to five bedrooms (1,701 sq ft), and plush

penthouses (2,067-2,540 sq ft). CDL plans to

market the development at an average



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of $1,250 psf. The other is a Charlton 27 a

clutch of 27 landed homes (16 corner units

and 11 intermediate terraces) near Kovan

MRT station, developed by Surindipity Pte

Ltd. The smallest unit takes up 3,900 sq ftpriced at $800 psf or $3.3 mil. The largest

unit, 6,000 sq ft will cost $600 sqf or $3.9 mil.

Each unit consists of at least 5 bedrooms,

apart from a lounge/study, a private lift and

direct pool access. Both developments, with

their strategic locations, are expected toattract strong attention from buyers.

Measures discourage ownership of

multiple properties

Theres been a rise in the proportion of

private housing loan applicants without any

outstanding mortgages in 1Q13, according to

Credit Bureau (Singapore), thanks to the

January measures that discourage multiple

property ownership. CBS data shows that in

1Q13, 65% of the 16,208 Singaporeans and

PRs granted private home mortgages did not

have any outstanding home loans. On the

other hand, the proportion of second and third

loan cases of the same group has beendropping. Among the 1,392 non-PR

foreigners granted private housing loans,

79.6% are first loan cases. Also, the 11,423

private home mortgages to Singaporeans and

PRs in 1Q13 translated to a higher 16,208

individual applicants due to the possibility ofmarried couples to be joint applicants for a

single loan, according to CBS.

http://www.moneymatters.sg/


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Non-Landed Residential Resale Property Transactions for the Week of May 8 May 13

Postal

DistrictProject Name

Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

3 RIVER PLACE 1,033 1,520,000 1,471 99

4 REFLECTIONS AT KEPPEL BAY 2,605 5,200,000 1,996 99

5 HERITAGE VIEW 1,195 1,470,000 1,230 99

5 PASIR VIEW PARK 990 1,200,000 1,212 FH

8 D'CAMBRIDGE 732 1,010,000 1,380 FH

9 THE COSMOPOLITAN 1,679 3,700,000 2,203 FH

9 THE COSMOPOLITAN 1,399 2,950,000 2,108 FH

9 LEONIE STUDIO 926 1,800,000 1,944 99

9 BELLE VUE RESIDENCES 5,425 10,500,000 1,935 FH

9 WATERFORD RESIDENCE 980 1,710,000 1,746 999

9 PEACE CENTRE/MANSIONS 2,605 1,735,000 666 99

10 THE MONTANA 700 1,230,000 1,758 FH

10 BEAVERTON COURT 3,229 4,500,000 1,394 FH

11 ROCHELLE AT NEWTON 1,507 2,433,000 1,615 99

12 SHAN COURT 1,916 3,600,000 1,879 FH

12 SHAN COURT 1,916 3,600,000 1,879 FH

12 THE RIVERINE BY THE PARK 980 1,600,000 1,633 FH

12 SUITES @ TOPAZ 388 618,000 1,595 FH

12 EURO-ASIA APARTMENTS 1,281 1,400,000 1,093 FH

14 CITY PLAZA 1,615 1,638,000 1,014 FH

14 CITY PLAZA 1,615 1,600,000 991 FH

14 GUILIN COURT 1,216 950,000 781 FH

15 CUBIK 484 750,000 1,548 FH

15 THE MAKENA 1,152 1,625,000 1,411 FH

15 THE MAKENA 926 1,280,000 1,383 FH

Postal

DistrictProject Name

Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

15 COTE D'AZUR 1,313 1,605,000 1,222 99

15 EBONY MANSIONS 1,302 1,320,000 1,013 FH

15 DE CASALLE 1,184 1,190,000 1,005 FH

15 LAGOON VIEW 1,647 1 ,320,000 802 99

16 PARBURY HILL CONDOMINIUM 2,196 2,650,000 1,207 FH

16 CHANGI COURT 1,389 1,450,000 1,044 FH

17 BLUWATERS 2 872 872,000 1,000 946

19 KOVAN RESIDENCES 947 1,400,000 1,478 99

19 SUNGLADE 1,238 1,438,000 1,162 99

20 THE WINDSOR 1,647 1,700,000 1,032 FH

21 SPRINGDALE CONDOMINIUM 926 1,054,000 1,139 999

23 THE JADE 1,087 1,200,000 1,104 99

23 GUILIN VIEW 840 880,000 1,048 99

23 THE LINEAR 1,249 1,192,000 955 999

26 CASTLE GREEN 947 905,000 955 99

NOTE: This data only covers non-landed residential resale propertytransactions with caveats lodged with the Singapore LandAuthority. Typically, caveats are lodged at least 2-3 weeks after apurchaser signs an OTP, hence the lagged nature of the data.

Singapore Property Weekly Issue 105

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