3 Benefits to Buying Foreclosure Properties in Singapore

If you have been paying attention to property news related to the Singapore market recently, you may have heard that real estate prices for many property types are declining and that foreclosures are on the rise. This can seem like pessimistic and even foreboding news to some. However, real estate markets generally will not remain depressed or declining forever. The real estate market is cyclical, and it has its ups and downs. In fact, there are three key benefits that you could enjoy if you consider buying Singapore properties in foreclosure.

A Great Price

Foreclosure properties are those that have been seized by the lender who held the mortgage on them. Generally, this occurs when the previous owner did not make timely required payments to the lender. The lender who foreclosed on the property typically will attempt to sell the property below current market value. While real estate prices in Singapore may be declining and great deals may be available with non-foreclosure properties, foreclosure properties may have an even lower price. A great option to consider is to compare the price per square foot of foreclosure real estate to non-foreclosure properties. By doing so, you can see the value for yourself.

A Motivated Seller

Lenders are in the business of extending loans and offering other types of financial services. They may have foreclosed on a property due to lack of payment by the previous owner, but lenders typically do not want to be property owners. Instead, they want to sell the property as quickly as possible. Foreclosed properties generally have very motivated sellers who want to sell right away. Because the price is already below market in most cases, you may not be in a position to negotiate the price. However, the seller may do what is necessary to close quickly.

Many Options to Choose From

There are always foreclosure properties available in the Singapore market, and this is similar to any other real estate market. However, due to current market conditions, foreclosures have been rising. This means that there are currently a higher number of foreclosure properties for buyers to consider. Amidst this great selection, buyers like you may have an increased ability to quickly and easily find a number of properties in your price range and in a desirable location. With so many choices available for you to choose from, you will not feel limited by the selection of foreclosure properties in the Singapore market.

Real estate prices have generally been declining in recent months in the Singapore market for most regions and most property types, and this presents buyers like you with a wonderful opportunity to find a great deal on a property. Foreclosure properties are generally priced at an even lower level, presenting an even greater opportunity for savings. Those who are interested in buying property in the near future may consider meeting with a property agent to learn more about market conditions and to begin researching property listings in detail.

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Basic Tips for Renting Property in Singapore


The moment the need to relocate strikes, people are often caught up in a myriad of thoughts. This is not because there are no appropriate properties to rent, but partially because finding one can take longer than expected. Therefore, to save on time while searching properties to rent in Singapore, it is advisable to first understand the dynamics of the market as this will avail several options to choose from. Making the right decision while searching for rental property does not have to be costly. Utilizing tips from experts as outlined in this piece comes as the most invaluable choice ever.


Define your priorities

The moment you make up your mind to rent property, it becomes easier to search for the most suitable if you have made priorities that are supposed to be fulfilled. Talking to friends to get some information regarding how some areas are can prove useful. Go through various listings to confirm whether the features you have in mind are included. This is the easiest way to get matching property that will satisfy all your specific needs.




Start early and search regularly

Getting property that is made with exact features as one needs can be daunting sometimes. Therefore, starting the search early is important so as to ensure your plan to relocate by a certain date is fulfilled. Go through different pages that list rental houses to get basic facts about the best deals available. To make the search easier, you can involve a real estate expert as these people have links to better properties. Looking for Singapore condo rental property does not need to be a difficult task. Using referrals and the internet can be one of the easiest ways to catch up with what you need.



Hire a professional

One of the reasons most people delegate their services to professionals is the level of experience they hold. A professional is able to distinguish between good and poorly constructed properties. Getting an apartment for rent in Singapore through a professional allows one to get something that fits with the right budget. Professionals also make the search process quick, meaning no unnecessary delays may be experienced.



Ask for referrals

You may be leading a busy life yet you may want to get property to rent. This does not mean you will have to quit what you are doing so as to start searching. Utilizing referrals from friends can prove amazing as this helps you to save up on time. Simply save contacts of more than one people who work in the real estate field and they will be of help when you need to rent property.




Availability of amenities

Living in a neighbourhood that lacks special amenities like sporting grounds and a gym can make life difficult. Take some time to understand about the features that are available in a certain area before relocating. There should be good access roads as well as easy access to things like schools and shopping centres. Nobody would like to spend much time travelling so as to access a shop.




General condition of the property

One of the reasons people end up in frustrations is living in environments that are build with despicable conditions. Before paying any rent, ensure that all things that are installed are working well. It is better to live in a neighbourhood with modern features as this make life easier.

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Paying rent is something that should come with relevant compensation. The property should be worth the mount of rental that is demanded. This is why searching keenly before making a decision helps. Get information about properties before thinking about renting one.



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4 Factors to Consider When Searching for a Property Agent to Assist With Your Purchase


If you are in the market to purchase a new property in Singapore, you may understand the benefits associated with working with a property agent. A property agent is a well-trained professional who has received special education in real estate transactions, and this person may have expert insight and knowledge that can help you to locate the right property and to get the best price for you. The agent may also help you to negotiate with the seller and to facilitate the entire transaction. However, not all property agents are the same. Before you contact property agents in Singapore, you consider how important these factors are with your selection.


The Experience of the Agent

Some property agents in Singapore have been working in this field for only a few months, and others have several decades of experience serving clients. Experienced property agents may have already successfully helped hundreds of people or more purchase property, and they may have learned many things from these various transactions. While all agents are required to complete various courses in order to obtain and maintain a license, the fact is that experience may indeed play a role in how well your agent is able to serve you. Experience with property location, contract negotiations and more are all important. More than that, many property agents will also have established contacts and relationships in the industry after many years of service, and these relationships may also benefit you.


Areas of Specialization

It is important to note that some property agents take a broad approach to serving clients, and others focus on a specific type of property or a specific area of Singapore. For example, some may specialize with flats, and others may specialize in the northwestern region of Singapore. It is important to research the area of specialization for the agent you are interested in working with and to ensure that the property agent has the focus that will benefit you. You may not need to work with an agent who has specialized in a specific property type or location, but this can benefit you due to their focused knowledge.

Areas of Specialization


Availability and Promptness

While you can research the above factors online in most cases, you will also need to contact a property agent in order to determine if the Singapore professional is the right one for you to work with. You may need to reach out to and communicate with your property agent numerous times per day, and you may need a prompt response at certain critical times in the transaction. Therefore, pay attention to the availability and promptness of the individual when making your decision.


Overall Professionalism

As a final point, take note of how professional a property agent is with your initial interactions with him or her. Buying real estate can be stressful, but you need your property agent to remain level-headed throughout the process. The property agent will represent you to the seller and seller’s agent, and you want this representation to be professional. You want to choose a property agent who is personable and who you enjoy spending time with because you may be working closely with this individual for several weeks or months, you also want to ensure that professional continues to treat you with respect and courtesy throughout the process.


A skilled and experienced property agent can be a true asset to you when you are buying property in Singapore. There are many agents that you may consider interviewing and contacting as you make your decision, but the best one for you likely will rank highly in each of these areas.


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6 Great Reasons to Buy Property in Singapore in 2015



Admit it: You want to own a piece of property in Singapore but every year you put off the decision to become a homeowner for a variety of reasons. If your list of reasons has finally run out and every last excuse you’ve conjured has vanished, perhaps you need a final push to make that decision. We’d like to help you out by listing six great reasons to stop stalling and start shopping. Consider them all and don’t be surprised if a few more come up that will convince you to make 2015 the year you own property in Singapore.


1. Singapore property agents are amazing.

And you only need one skilled at interpreting your wishes, desires and budget to achieve success. Sure, agents in Singapore share the same portfolio, but that doesn’t mean that each representative hasn’t got a unique personality, perspective and expertise and wait until you see how easy they make it to find exactly what you’re looking for. Your job is to be frank and clear about what you seek in terms of price, location, dimensions and aesthetics. A great property agent doesn’t stop when you shop—she can also refer you to dependable legal and financial help throughout the process.


Top 10 Reasons to Hire a Real Estate Agent. Keith Tan Boon Kee is a Real Estate Agent in Singapore for more than 12 Years. Call Keith Tan @ 97501055 to invest in Singapore properties.


2. You’ll find exactly what you want.

Suitable properties in Singapore are everywhere and they run the gamut from land to houses to condos. Identify the type of property you seek so your property agent doesn’t accompany you on a wild goose chase! Tour each property with your favorite communication device: anything from legal pad and pen to an electronic device that allows you to take notes on furnishings, fixtures, appliances, landscaping, prices and more. If you have special needs and require, for example, an elevator so your elderly parents can visit, make sure that criteria is met or cross a non-suitable property off your list immediately.




3. It’s easy to negotiate.

Once you have narrowed down your list to prime candidates, take a second tour of each so you can be sure you haven’t missed anything during your first review. Identify the property that best suits your needs and prepare to put down a 1-percent retainer as a consideration in exchange for the Option to Purchase. You will have 14 days to decide if this is really the property for you, at which point, you sign and forward to the seller’s solicitor the completed option paperwork with an additional 4-percent to 9-percent of the purchase price to seal the deal. Involve your own solicitor at this point to protect yourself!

4. The hardest part is waiting.

It takes around eight to 10 weeks to complete a property transaction in Singapore even if your solicitor is the “take charge” type. The hardest part of this process will be waiting and waiting! Expect to take one more tour of the property as the bureaucratic portion of your sale is handled by solicitors, lenders and government officials requiring a stamp duty of 3-percent of the purchase price paid to the Inland Revenue Authority of Singapore if the price tag on the property exceeds S$300,000. While the seller is responsible for paying agency commissions, you are responsible for legal expenses (on average, a one-off fee of S$3,000).


Top Tips on Selling your Home


5. Let out the property if you don’t want to live there.

As a new property owner, maximize your real estate investment now that property taxes are a new part of your lexicon. Expect your property tax rate to be around 10-percent annually if you’re planning to let the property or take advantage of a lower taxation rate of just 4-percent if you reside on premises. If you don’t plan to occupy your new property, offset part of your tax burden by working with your property agent to lease—especially if you own in prime areas like Districts 9, 10 and 11!

6. Jump on board the HDB train!

More than 80-percent of all Singaporeans live in Housing Development Board properties within self-functioning towns where all amenities are steps away. Non-Singaporeans are prohibited from buying in these areas, but as a national, you can invest in one of these properties under various laws, such as the Executive Condominium Housing Scheme Act and Planning Act. Anticipate a lot of complex negotiations if you opt for this type of property purchase, so your property agent and solicitor could become your closest friends the moment you tour various HBD in Singapore sites. Whether you choose a new unit or go the resale market route, you’ll quickly discover advantages to becoming a property owner in Singapore, not the least of which is finally having a place you can call your own and not the landlord’s!


Why invest Real Estate in Singapore

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Some Useful Tips On Finding A HBD Rental In Singapore

So, you have decided to move to Singapore. How are you going to find the right place to live? It may be difficult to adjust to the new environment, as well as the different culture. Do you need more information on finding rental flats in Singapore? Then read on. The information below will help you in your hunt for that perfect, elusive flat.


How should I get a flat?

Naturally, before you move to Singapore, you will want to find comfortable accommodation. Property prices and rents have increased in recent years, so it is important to ensure you get the best home for your money. Although the flat-finding process works out best if you wait until your arrival in Singapore to commence the hunt, you can start your research before moving
with the help of many Singapore property guides on the Internet. This work will allow you to communicate with realtors while you are still abroad.


Singapore HDB Info Web

Singapore HDB Info Web: http://www.hdb.gov.sg/



99.co HDB Property Search

99.co HDB Property Search



When should I start looking?

You should begin actively searching for homes a month before the date you have planned for moving in. After deciding where you want to stay and your property preferences, you should be able to locate a property within three days. However, do not give up the search for your property until the last possible moment. Rushing to sign a contract can leave you at a financial risk. Ask friends or online sources in Singapore for advice on the best places to live and the pros and cons of the various locations. Identify and develop your criteria and standards. Do you want a fancy HBD rental or a less sophisticated one? What is the maximum distance you are willing to travel to and from work? There are many online databases to help filter your search according to your specifications.


Trying to find a flat more than a month in advance can be a bad idea. Because others are looking at the same properties at the same time, the land may be occupied by the time you are ready to sign the papers. To maximise your property viewing a month or so before you plan to move in, provide your real estate agent with the details of your criteria and budget so he can build an accurate shortlist.


Can I find the flat myself or should I use a real estate agent?

Using more than one real estate agent simultaneously may work, but typically isn’t practical. If you decide engage the services of multiple agents, hire only those who are working in differing areas of practice to prevent confusion. Because an agent will come to know your preferences, it is best to work with just one agent.

An easy way to find a good agent is to ask people you know or online forum members located in the area you are researching. If you decide to find property on your own, research newspapers and property listings online, and then make a direct connexion with the owner’s real estate agent. If you pursue this option, don’t allow the agent to represent both you and the owner; you will have to pay a double commission fee if you do.


Once the flat is found

After you find that perfect HBD flat, congratulate yourself! The first and most important step in your move to Singapore has been completed. Now, you should investigate other important parts of a move, such as where you will go shopping, where your children will go to school and how you will acquire an internet connection. Be sure to take care of these important problems before you get swept away in the moving process.

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A Guide to Buying Property in Singapore for Expats

Here are some general guidelines for buying property in Singapore as an expat, whether you are buying a condo in Singapore or a house. You may be a stranger in a strange land, but that doesn’t mean you can’t find the right property for you.

Find the right property agent

As in many other parts of the world, you will have better luck finding the property you want if you hire a local agent. This individual will already have the connections and knowledge of the market you lack. Talk with as many prospective property agents as you want, but decide on one and stick with that person. Be crystal clear about exactly what type of property – house, condo, etc. – you wish to purchase.


Figure out what property you want

With your property agent, visit the sites that he or she has found and make your decision. It’s fine to negotiate; this is expected. Don’t commit to anything until you are sure that you have found the property that you want. A decision this important can’t be rushed.

99.co HDB Property Search

99.co offers latest listing on Singapore properties & real estates for sale and rent.



Make your offer

Once you have made your decision, put together 1% of the price of the property and contact the solicitor for the seller. Depositing the 1% gives you 14 days to make a decision. If you decide to buy, be prepared to have available 10% of the price of the property.


Complete the sale

You have the option to inspect the property one more time before the final sale; make sure that you do so. After that, the transaction will be worked out between your solicitor and the seller’s solicitor.


Get a loan

Arrange a loan through a Singapore bank. If your credit is good, expect to get up to 80% of the value of the property. Singapore banks offer decent rates. As a foreigner, however, you will not get as good of a deal as a native.

That’s it! Once the property is yours, make sure to pay your taxes. If you are renting the property, make sure to obey all applicable laws. Buying and renting property in Singapore is like much else there: if you follow the rules and regulations it is a great place to do business. As a foreigner, you are at a slight disadvantage doing business in Singapore, but this is a cosmopolitan city with a great overall business climate.



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