To sell or not to sell our pty

[fightingmom]

Tania:

fightingmom:

[quote=\"Tania\"]Is it the right time to sell private pty?

First thing first, what is the reason for selling ?

take profit lor[/quote]If your purpose is to cash out and has an alternative place to stay, then IMO sell now. Or you manage to find another place that can give you a better yield.

However, if you are selling your one and only house and intend to buy another , then maybe have to reconsider because you sell high , buy high too unless you change the district - say you sell a district 9 house to buy a district 23 or 25 ; then maybe feasible.

And I agree with what vk2010 mentioned earlier , the basic \"rules\" of house hunting is always location, location, location !

Just my 2 cents worth and Hope it helps !

[fightingmom]

verykiasu2010:

MMM:

I think the type of housing you are currently in also matters.


We've a relative who sold off their cluster house in Upp Thomson area as they anticipate the property to slump. They wanted to get a landed in bukit timah area. However.... till now.... the slump esp for landed properties has not happen. So they are currently renting.

the URA data on landed houses in bukit timah shows no slowing down. there is no new supply in those area, all land are occupied; hence whoever wants it will have to pay a premium to dislodge the current owner. an old terrace of land 18xx sq ft was sold for 4.19m recently, plus factor in another million to rebuild it, plus stamp duty and prof cost ....it is anything above $5.5m

Land is scarce in Singapore !

[MMM]

fightingmom:

verykiasu2010:

[quote=\"MMM\"]I think the type of housing you are currently in also matters.


We've a relative who sold off their cluster house in Upp Thomson area as they anticipate the property to slump. They wanted to get a landed in bukit timah area. However.... till now.... the slump esp for landed properties has not happen. So they are currently renting.

the URA data on landed houses in bukit timah shows no slowing down. there is no new supply in those area, all land are occupied; hence whoever wants it will have to pay a premium to dislodge the current owner. an old terrace of land 18xx sq ft was sold for 4.19m recently, plus factor in another million to rebuild it, plus stamp duty and prof cost ....it is anything above $5.5m

Land is scarce in Singapore ![/quote]Precisely. I think not just in bukit timah. Most landed in decent location are rising across the board. Also, there is less speculation for landed since it's only open to citizens. We do see cases of people letting go their landed hoping to cash in and get a good deal later on. But many a times, I find it risk as they might not be able to get it a low price and instead have to \"give up\" their landed dreams.

[autumnbronze]

Can someone please advise/clarify/elaborate what is meant by location location and location when purchasing a property here??


Right now, what comes to my mind is BT, HV area, Orchard etc ...

MTIA

[MMM]

autumnbronze:

Can someone please clarify or elaborate what is meant by location location and location when purchasing a property here??


Right now, what comes to my mind is BT, HV area, Orchard etc ...

MTIA

Personally, I think besides the hot and expensive area. D15 and D19 are popular choices too. Not as expensive as those but it's not that cheap either nowadays. Popular with foreigners as it's near to town as well.

For man on the street, location is also about being near to MRT and close to amenities and most important, convenient.

[fightingmom]

MMM:

Precisely. I think not just in bukit timah. Most landed in decent location are rising across the board. Also, there is less speculation for landed since it's only open to citizens. We do see cases of people letting go their landed hoping to cash in and get a good deal later on. But many a times, I find it risk as they might not be able to get it a low price and instead have to \"give up\" their landed dreams.

Hi MMM,

Can i correct this : landed properties are also opened to PRs too provided they have LDUA approvals. I know cos one of my girlfriend and her DH are PRs and they managed to buy a landed house @ Lucky Heights area. However, I know recent years our gahment has tightened the criteria so not so easy to get approval now.

Also one and only area in Singapore where foreigners can buy landed properties is at Sentosa Cove.

[MMM]

fightingmom:

Hi MMM,


Can i correct this : landed properties are also opened to PRs too provided they have LDUA approvals. I know cos one of my girlfriend and her DH are PRs and they managed to buy a landed house @ Lucky Heights area. However, I know recent years our gahment has tightened the criteria so not so easy to get approval now.

Also one and only area in Singapore where foreigners can buy landed properties is at Sentosa Cove.

Yes I agree. I've a gf who is a PR but hubby is a Sporean. They need to get approval before they can buy a landed as well. But indeed read that they have tighten control.

[verykiasu2010]

autumnbronze:

Can someone please advise/clarify/elaborate what is meant by location location and location when purchasing a property here??


Right now, what comes to my mind is BT, HV area, Orchard etc ...

MTIA

Landed - Location : secluded yet near to all amenities and good schools, rent-able to diplomats or foreign CEOs, convenient to town, surrounded by low rise development, normally there is height restriction imposed, built density restriction, so it narrows down to those surrounding the GCB areas, cul-de-sac worth more than along-the-road, freehold / 999 / 9999 better than 99. 99-yrs Landed surrounded by mass-market 99-yrs suburban condo are not investment property

Condo - Location : posh area in districts 9 / 10 / 11; failing which dist 21 / 15 / 16, iconic developments designed by famous architects, generous layout and facilities (think about shoebox units!!)

HDB - Location : good neighbourhood with fully developed and established town centres with brand name malls, self-sufficient without the need to go to Orchard or Suntec; good schools nearby, walking distance to MRT but not next to it, lift level (these days hardly any block without lift to every floor), corner unit, point block better than slab block, no afternoon sun, high floor, good view, unit without the number \"4\", no loan shark history or violence history....

above criteria not exhaustive

for a contrarian view : buy those in opposition ward

[MMM]

verykiasu2010:

for a contrarian view : buy those in opposition ward

Now we find another selling point of our house.

[verykiasu2010]

MMM:

verykiasu2010:

for a contrarian view : buy those in opposition ward

Now we find another selling point of our house.

the rate of return should be higher compared with those in PAP wards for eternity