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singapore property market
Singapore Property Market is considered as a safe haven for investors. Here are some of the reasons why Singapore Real Estate is resilient.
Facts
- Positive Market Sentiment
- One of the top cities in the world
- Singapore is a vibrant city
- Small geographical size with limited land
- Singapore as a regional hub and is well-connected to the world
- Highly developed country supported by good infrastructure
- High quality of living and healthcare
- High level of affluency and spending power
- Property is a long-term investment, providing an annual return of as per annum
- Properties are a tangible asset class. This makes real estate an ideal value store for investors looking to diversify their investment portfolios and hedge against inflation.
- Average annualized return of residential properties over the past decade was 5%
Government
- Singapore is known for its transparency, political stability, and ease of doing business—factors that people look for in an investment destination.
- Robust legal system and strict law enforcement protecting personal safety and property.
- Safe and multicultural society
- Simple, efficient and attractive tax rates.
- Imposes measures that regulate the quality of housing e.g. Min unit size
- Ensuring Singapore housing and neighbourhoods is liveable - reduce uncertainties to investors
- Proactive in implementing measures to keep the market stable and prevent dangerous bubbles from forming
- Sing dollar is pegged to a basket of currencies and MAS don't control by playing with monetary supply
- A need to grow population and national GDP imply that there is a consistent demand for real estate
Building under construction (BUC)
New Condominium
Have you wonder why many people loves to buy new Condominium instead of resale units?
Here are some of the key factors that contribute to this preference.
Modern Amenities and facilities
Higher Quality Standards
Potential Capital Appreciation
customization and Personalization
Developer Reputation
Progressive Payment Scheme
Did you know that when you engage agent to purchase private Condominium, there is actually no fees required? How often do you purchase properties and how much do you understand the current government rules and regulations? With no fees payable, why go through the hassle on your own?
engage us now!
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Public Awareness
During this period of time, these are the typical activities from agents from the appointed agencies
Hyping - Putting up standee by the street and handing out flyers to all passerby.
Door Knocking - Agents knocking on your door (for landed and HDB), asking if you have intention to upgrade or invest in the new launch.
Mailers - Mailing out flyers to residents telling you that there is an upcoming new launch and some might even provide link or QR code for you to register interest or book showflat appointment online.
Digital Marketing - Facebook and Google Ads are the most common paid digital marketing that many agents will either do themselves or pay third party vendors to do it. -
Preview Period
Developers will typically do a press announcement a few days before the start of the Preview to announce the "starting price" for all the various unit types. This is also when all agencies will start to work backwards on the "starting PSF" for the development. They will then come out with a Price Matrix table to present to the buyers a price range with the starting psf to the highest possible psf.
The first day of the preview is typically a Saturday and for some reasons, buyers love to come on the first day of the Preview. The packed hours are usually 11am onwards until 7pm. There will always be a newspaper article usually on Monday to talk about the number of viewership for the showflat. Many often this will be an indicator if the project is going to be a sell-out. For those who doesn't like crowded places, it is advisable to go during weekdays. You can then have adequate time to view the show units without being squeezed.
During the preview period, all agents will convince you that this is a "must buy" project and get you to fill in 2 forms i.e. "Expression of Interest" (EOI form) and Personal Particulars Form (PP form) as well as submitting a blank cheque. This will be your entry ticket for the balloting day. -
Balloting Day
After the last day of the preview period, all agencies will need to stop collection of EOIs and Cheques. They will then need to merge all completed EOIs with all agencies to ensure that no duplicate submission by any buyers to multiple agencies in attempt to increase their chance of getting a good queue number. The agencies will then cross check each other's EOIs to ensure that they are all properly submitted.
On the balloting day (typically via YouTube or Zoom), developer will start to draw ballot numbers. If you are expecting it to be a manual process, then you will be disappointed. It is usually machine driven. Buyers who are super "gan cheong" can choose to watch it otherwise just sit back and wait for your agent to inform you of your queue number. -
Special Booking Day
Special Booking day a.k.a. VVIP booking day usually happen at the showflat a day before the public booking day. Buyers who qualify for this special booking day usually falls under these categories;
1. Developer Staffs Purchase
2. Bulk Purchase (Buyer(s) who are booking more than 1 unit)
3. Developer Special Customers
4. Developer Loyalty Customers (regardless direct or via agents)
5. Agent Purchase -
Public Booking Day
The Pandemic has changed the way some developers manage public booking day. In the past, booking day always happen at the showflat. This is where you will see long queue outside the showflat, waiting to book their choice unit. Ever since the start of covid, many developers have preferred doing satellite booking. Buyers from the respective agencies will report to the agencies basing on their queue numbers. Upon reaching, the agent will then release price of their preferred units. As the buyers are waiting, they will start to see more and more "SOLD" stickers pasted on the diagrammatic chart. So it is advisable to choose more preferred units in case they got sold in the process.
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Launch Day
After the last queue number has been served, it marks the end of public booking day and also marks the start of the launch day. Any buyers who are keen to book any available units no longer have to go through any hassle. They can just book any units that are available immediately. Prices might have increased immediately depending on sale result on the booking day.
Subsequently, the showflat will be opened daily typically from 10am till 6 or 7pm depending on developers. There will be agents on duty daily. Some developers might even have their Sales stationed in there as well.
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