Category Archives: Property Edge
Renting a property in Singapore, whether you’re a local or expatriate, can be exhausting. From looking at tens of properties at a time to dealing with brokers and legal paperwork, the process gets pretty old quick. Here are 5 tips to finding the right rental property in Singapore while limiting spent resources.
Decide Your Starting Point
If you are an expat moving to Singapore and is searching independently, you can approach a property agent or use an online portal that can offer leads to good properties in specific neighbourhoods. Most property portals in Singapore have extensive listings, so it should be fairly easy to find a property that suits your lifestyle needs and demands. On the other hand, if you are being sponsored by a company, approach them for housing assistance.
Decide on Location
It’s very common for people to have a hard time deciding where to move to. Pick a location that is generally more convenient for your family and yourself. Areas that are close to your school, work, or place/s of interest should be your primary target locations. Keep in mind that the closer you are to business centres and financial or tech hubs, the cost of rent generally climb higher.
Decide on Budget
How much are you comfortable allocating to monthly rent in Singapore? Is it a personal lease or is your employer shouldering all or some of it? Have a range in mind, such as $1,000 to $3,000 per calendar month. Knowing your budget beforehand is vital as it determine which property rentals you can entertain. Ideally, you should set a budget that does not eat up your entire monthly income. A safe range would be a monthly rent that’s equal to 50-60 percent of your monthly income.
Decide on the Type of Housing
Eighty percent of people living in Singapore are in public housing or what is colloquially termed as HDB, which is short for Housing Development Board. HDB flats are more affordable and some even come furnished, making moving in much simpler. On the other hand, a house for rent in Singapore is ideal for larger sized families yet tends to cost more. If you plan on staying permanently, leasing a house is a much wiser investment.
Decide on Amenities and Facilities
Consider the accessible amenities close by. Does the property have access to an MRT station? Are there supermarkets and department stores you can go to for basic needs and supplies? Aside from outdoor amenities, consider available indoor facilities, such as an in-house laundry room, swimming pool, gym, Jacuzzi, tennis court, and whatever your heart desires. Apparently, rental properties that carry these luxury amenities will charge a higher premium, so again it comes down to your budget.
Start your Singapore property search right using the five tips above. A few hours of taking the time to read this guide along with other helpful resources online can save you money and time from getting sucked into a bad property or a bad contract.
You may have heard about the soaring prices of Singapore’s Properties. This new up and coming country is taking the West by storm. Now, inflation is emptying the pockets of well-meaning visitors. We hope to provide you with a few tips to keep prices low on your next stay at Singapore.
The typical Singapore condo rental can run you upwards to 4 or 5 thousand dollars for a few people to 10 thousand for a family stay! Privately owned condominiums can cost a pretty penny in Singapore due to their crammed quarters. Most of the land is owned and operated by the government and only rented out for native Singapore people. If a private condo price isn’t in your budget, consider an HDB for rent.
The Housing Development Board Loophole
The government owned housing that comprises 80% of the market is only sold to a Singapore native. However, there is a loophole a foreigner can take advantage of. If the renter wants to share the apartment or condo with a foreigner, they can do so. Condos will go up for rent with one room blocked off that a renter will claim is their living space, while you have the rest of the condo to yourself. This loophole gives you the chance to rent at a reasonable price. TheseSingapore condo rentals won’t have amenities or luxuries like most privately owned properties. It will give you everything you need in the rental to live comfortably.
The most frugal way to go is an older HDB for rent. If it is 8 years old or older, you can get the best deal. At 8 years you can ask for 30% less than the price of a newer condo the same size. A 20-year-old HDB rental can be half the price of a brand new condo.
Find What You’re Looking for in Singapore
Searching for a rental property can always be difficult. A new country you are unfamiliar with can just make things even more daunting. HDB properties for rent can help you make a cheap option while still getting the basic needs in a rental. Check out properties in districts your interested in and see what kind of savings you can achieve!
A Singapore resident may want to rent a home, apartment or room in his or her locale. Sometimes finding a property to rent is not as easy as it sounds. The following are some suggestions for places to search for a place to live in your Singapore locale. The interested person should be able to find something based on the following information.
Check Finances First
Before anyone goes out to look for apartment rentals, that person should ensure that his or her finances are in good standing. A Singapore resident should calculate his or her disposable income. The disposable income is a figure that results from subtracting the monthly bills from the monthly income. It will tell the person how much money can go toward the room for rent each month. The figure will help narrow the person’s search to avoid wasting time on things that he or she cannot afford. Obtaining a credit report will help too as it will let the person know what to expect from apartment complexes and people who run a check.
The first place that a Singapore resident should look for a room to rent is a place where private owners advertise. Many private owners are lenient about the rules, the security deposit and the background checks. A person who has poor credit may want to find a private owner for that reason. Singapore residents can find a private owner in several places. One place that the person can find a private owner is the classified ads. Classified ads are in the Singapore newspapers and online on various Singapore sites. Some of the sites allow people to list free rental ads and free requests for rental properties. The benefit to using classified ads is that they can provide the person with a quick answer to a homelessness problem.
Another way that a Singapore resident can find a local rental room is by contacting a real estate company. The benefit to using an online company like iproperty is that the company has in its database connections to thousands of properties. The Singapore resident can search for a rental by price range, property type, district, size and number of rooms. A studio is an excellent option for a Singapore resident who wants a little bit more than a basic room. The interested person can contact the landlord for additional information about the property.
A Singapore resident might be able to find a magazine in the grocery store or laundromat that has information about local property rentals. The person can ride around in the neighbourhood and look for such magazines. Automobile magazines and home rental magazines commonly show up in the lobby of many grocery stores. The Singapore rental seeker can start his or her journey to an apartment there.
The previously mentioned tips should help a person to find a reliable place to rent in a brief period. Ideally, the person will find a place to live within 30 days from the start of the search.
Singapore properties are on the hot list of every local and foreign investor around the globe. The country’s stable GDP figures, strategic physical location in Asia, and highly-effective Free Trade policy are only few of the key reasons why you should be parking some of your savings into the country-slash-state-slash-island.
While Singapore housing prices have suffered a setback last year, it’s mostly the result of deliberate government policy. The demand for properties, both residential and commercial, remain relatively high over neighbouring Asian countries. As an investment, Singapore’s real estate market is promising thanks to the country’s strategic location, which places it at the heart of the trade channel used by major cities and locations including Tokyo, New Delhi, Beijing, and Bangkok.
Property Types To Choose From
There are several types of investable property you can choose from in Singapore. HDB flats appear to be the more common form of living accommodation in the country. 80 percent of Singaporeans are reported to live in HDB flats, which are also referred to as public housing.
Condominiums are another housing option you can invest in, albeit pricier than other real estate investments. When browsing advertisements for condominium units, you may see the term TOP, which is short for Temporary Occupation Permit. This simply pertains to the year when building work was finished.
Single-family homes are categorized as landed buildings in the country. Expat investors may find it difficult to purchase this type of land due to stringent restrictions imposed on foreign ownership. Nonetheless, they are one of the most demanded accommodations in Singapore and can generate a sizable income stream from the monthly rent and thus a worthwhile addition to your investment portfolio.
How to Start Investing
Identifying both obvious and hidden cash-flow factors is imperative to gauging future demand for the real estate, whether as a rental unit or a buy-and-hold asset. Singapore property taxes are a predictable cost, but there are variables at play that can affect the real estate’s appeal. For instance, for a rental unit, you may think adding utilities in the monthly rent will entice renters, but it’s not always a fixed cost since the renters may secretly bring in more tenants, which would increase consumption of heat and water and, ultimately, expenses.
Contact a broker as soon as you sort out your personal finances and preferences. Zoom in on promising locations that attract consistent demand and is poised to become a busy landmark in the future. Do your research of future projects that could affect demand and valuation of properties in the area.
What Not To Do
The number one deterrent of successful real estate investing is thinking you’ll get rich quick. It’s not a career that will reap six figure salaries every year after only a few months of legwork. You’ll need to dedicate considerable time and effort to look for properties, add on your portfolio, and manage existing ones to ensure they don’t get blown to pieces by renters or drastically decrease in value due to changes in policy you failed to see and prepare for.
As an investment, there is definitely more to Singapore property purchases than what can be contained in this article. However, all the information above should give you a core knowledge base for you to work around in.
If you’re looking to invest in Southeast Asian properties, Singapore is a great place to park capital. In 2010, all eyes were on Singapore as it was presented as the fastest growing economy in the planet. Whether it’s the successful free-market economy or the impressive GDP to thank for the prestige, it’s no secret that the country is a goldmine for local and foreign real estate investors. Here’s things you should know about and take to heart before signing any paperwork.
Real estate is an expensive investment. Decide first how much you can allot for investment properties without endangering your family’s lifestyle. Aside from capital, identify how long you want the investment to last before needing to be liquidated, what kind of properties you are looking for, the locations you’d like to focus your search in, and the anticipated returns on investment.
Despite being a no-brainer, it’s seldom prepared for by most inexperienced investors. Just like finding the right stockbroker for investing in companies, you need the right real estate agent to legally and profitably invest in land. Singapore-based realtors become a necessity for expat investors who lack knowledge about the market and the step-by-step procedures for acquiring houses. An important filter for choosing a good realtor is to only pick those that are members of the Institute of Estate Agents or IEA.
Being proactive is an important quality in real estate investing. The process is meant to be face-to-face rather than online. If you wish to invest in Singapore’s real estate without having to travel, you can purchase REITs or real estate investment trusts. For those who want to be long-term successful investors, talk with the seller and verify that they are indeed allowed to sell the property. If the seller of a mortgaged house incurred capital losses upon the sale, the bank may not approve of the transaction thereby rendering anything the seller says or does void.
Your real estate agent will provide a list of properties that meet your criteria. Make sure you visit them in-person. Bring your laptop or a notebook and pen to jot down what you liked and didn’t liked about the properties you viewed. Having a detailed record of these properties can prove useful later on when you make the final decision. You don’t want to be visiting the Singapore property a second time just to verify a key feature or flaw that may influence your final decision.
After you’ve found the perfect investment Singapore property, make an offer immediately. You don’t want to take too long as there are other interested buyers and investors submitting their offers to the seller. Gauge if the property is in high demand or if buyer interest is low. If it’s the former, make your strongest offer. If it’s the latter, leave some leeway for negotiations.
Singaporean properties are a great addition to any long-term investment portfolio. The country’s economy is anticipated to skyrocket further. Alongside it will be the demand and prices for land and housing.
If you have a house for sale in Singapore, there are some important tips that you should seriously consider. These tips not only act as a guide, but also play a major role in determining whether you sell your home or not. There are five crucial and sure tips you can use to sell your home.
Begin by standing outside and comparing your home to the rest in your area. If you feel slightly mortified after doing this, it is probably the same feeling your potential buyers will have. Answering the following questions will help you make steps in the right direction:
- Do the weeds say that I am a lazy person who probably has failed to maintain the rest of the property or I embrace all forms of nature?
- Is there an embarrassingly overgrown shrub that prevents people from seeing my house number?
- Is there a place the children toys can be stored?
- Are the paving slabs uneven?
- Do the window frames need fresh paint?
- Have the gutters ever been cleaned?
Those pretty photos of your spouse, nephew, kids, friends, pest and so forth that are present in certain rooms should be taken down. Contrary to popular belief, your buyers will not want to see the life you have made for yourself in the home. Instead, they would prefer to imagine the great life they could make in their potential new home.
Get rid of any clutter in your home. This is the time to store, throw out or give to charity the bits and pieces you have accumulated over the years. Clutter is normally created by items that you hold on to, yet you really do not need. A good idea would be holding a sale to purge your home of all unnecessary ‘stuff’. Pay specific attention to:
- Posters on the walls of your children’s bedroom
- Potted plants
- Appliances and kitchen tools
- Knick-knacks and ornaments
- DVDs, CDs and Books
three easy steps to minimize clutter
- Scrub the oven clean
- Bleach tile grout
- Clean out and deodorise the refrigerator
- Polish mirrors and taps
- Get rid of cobwebs
- Vacuum like it’s the last thing left to do on earth
- Dust furniture and light fixtures
- Clean the windows and follow by polishing them for that extra shine
- Dusting the skirting board
Revamp, restore and repair
The sale of your home could be tampered by simply things that you may have stopped paying attention to. Try to look at your house from the buyer’s perspective. Think of the details that may dismay or impress you if you were the buyer. Take care of details such as:
- Replace curtains, bedspreads and cushion covers that have garish colours and patterns or are worn
- Eradicate odours, especially those from pets, mildew and cigarette smoke. Open windows to air out your house. Simply using a perfumed air freshener to mask bad smells will not work
- Get rid of your old wallpaper. Paint the walls afterwards. Painting over the wallpaper will not only make it hard to remove in future, but it will also look bad
- Get a new bathmat and shower curtain
- Fresh towels should be placed in the bathroom
- Touch up the paint. If the house needs a fresh coat of paint, repaint using neutral colours
- Any cracks in your walls should be repaired
- Fix drawers and doors that do not close or open properly
- Fix leaky taps and faulty plumbing
- Replace all broken lights