Tenants currently looking to extend their leases can expect to do so either at the same rate or slightly lower, depending on the property involved. Although rental prices are currently soft, they did increase over the past two years before dropping back down.
For the sale market, bear in mind that bank valuations on the same property can vary drastically. A recent property I was involved with was valued at $6 million and $7m by different valuers from the same bank. So it’s well worth getting at least three valuations before making a price decision.
Singapore being the third-most densely populated country in the world (ahead of Hong Kong), scarcity of land creates a pent-up demand. The introduction last year of the TDSR (Total Debt Servicing Ratio), however, brought about a rapid cooling effect. Figures from the Monetary Authority of Singapore indicate that one in five borrowers has a loan repayment of between 40 and 60 percent of monthly income while 5 to 10 percent are overburdened with loan repayments above 60 percent of their monthly incomes. However, with high savings, low unemployment and an average salary of above $6K per month, the real thing for Singaporeans to watch for would be any increase in interest rates.
Happy hunting! If you see a property that interests you below, email firstname.lastname@example.org or call 6255 1027.
Bright and Breezy: Buckley 18
This apartment is in great condition and is perfectly located in the highly sought-after Buckley Road, Novena and Newton area. The good-sized rooms, generous light, private lift and breezy balcony are a perfect escape for busy professionals. It’s also just a few minutes’ walk to Novena MRT station and nearby shopping malls. The property comes either fully or partially furnished. Pics in the gallery above.
Size: 1,055 sq. ft
World’s Largest Eco Park: Funtasy Island
Exclusive Ocean Villa for sale on a new island development 16km from Singapore’s Sentosa Cove. You’re close to attractions such as Universal Studio, Resorts World, Marina Bay Sands and Orchard Road, while enjoying the natural seclusion of island living in what is envisioned to be the world’s largest eco theme park. This property is for rare sale by a private owner. The pristine islands spread over 328 hectares and house a limited number of villas carefully designed to sit harmoniously with nature. Outdoor types can enjoy nature trails, aquaculture, adventure and water sports, while there is shopping, dining and entertainment for all. Pics in the gallery above.
Price and information on application
Charmed: Chatsworth One
Space and sophistication are key to this centrally located, renovated apartment overlooking the prestigious landed homes in the Chatsworth and Jervois areas. The light-filled living room and formal dining area feature marble flooring, high ceilings and French doors onto a generous balcony. Entertaining will be a joy in the open-plan chef’s kitchen equipped with top-of-the-line appliances and solid wood cabinetry. A fifth bedroom on this level could be used as a family or TV area, guest room or study. On the upper level, the master suite features polished wood flooring, an en-suite bathroom with inlaid marble tiling, French doors and a walk-in closet. The other three bedrooms have polished wood flooring and en-suite bathrooms. Additional amenities include a separate helper’s area, a washer and dryer and ample storage. Pics in the gallery above.
Size: 3,400 sq. ft
Creative Living: Interlace
Perfectly placed for professionals working in Alexandra Road, Pasir Panjang or the Harbour Front area, this beautiful, brand new two-bedroom apartment is a walk away from Labrador MRT station and bus stops. It features quality modern finishings, beautiful greenery and a quiet aspect. It comes partially furnished and with new kitchen appliances. Pics in the gallery above.
Size: 1,000 sq. ft
Duplex Delights: Calrose
This gorgeous new two-bedroom duplex unit with private whirlpool spa and roof terrace, just 10 minutes’ walk from Yio Chu Kang MRT station, is tastefully decorated. On the first level is a very spacious living area, balcony, master bedroom and kitchen; the second bedroom and roof terrace are upstairs. A host of recreational facilities include a unique pool made up of meandering waterways and cave-like rock features. Convenient location for people working in Thomson, Bishan, Ang Mo Kio, Novena, Newton and Orchard. Available fully or partially furnished. Pics in the gallery above.
Size: 2,024 sq. ft