Saturday, 12 May 2012

Singapore Investment Property Information Best Understood by a Real Estate Agent

There are many individuals found in search for some reliable information based on real estate or properties for sale, rent or to put on lease. It is found not always to be an easy task to accomplish with concept relating to put a house on sale we lived for years together or to buy a new one and turn it as per our requirements into a home. This is because we all look for a profitable agreement out of the property or asset we possess.

To have an assurance on the deal we made on such factors can at times prove worth making only with the proper advices and suggestions from a real estate agent. The information and guidelines of these agents can help us find ourselves on the satisfactory side after agreements on selling or buying of a real estate is done successfully. The service of these experts on real estates is not that easy enough. Because they have to keep in mind to ensure the client get the most of out the percentage he or she holds in an agreement. Besides they also have to offer judgmental and authenticated decisions taking both the parties at par and maintaining a neutral viewpoint.

It is both challenging and also exciting to hunt for any property available for sale or to be kept for a rent. The conditions and also the perspectives vary with any local property of a buyer and also the investor based on the knowledge of the market related with real estate values. In Singapore investment property deals can be both profitable and also satisfactory. This is because Singapore is a city that is embedded with high quality recreational centers, skyscraper offices, shopping centers, schools, public amenities and also eateries. The residential apartment at W Singapore Sentosa Cove by prominent property developer, CDL is placed to be best Sentosa Cove condominium. CDL has laid down a complete new standard of living in Sentosa. With well furnished hotel, admirable retail outlets and private condominium, W Residences is a property with excellent seafront view. People can also look for the Tivoli Grande located at the Still Road which is a newly launched in District 15. There are a total of 82 freehold condos divided into two blocks to hold the privacy of a residential apartment. Interested buyers can go 2BHK and 3BHK penthouses even. Tivoli Grande is also very near to the East Coast Park.

There are 105 luxurious residential apartments in Starlight Suites located in River Valley of District 9. It is a 35 storey building with superb amenities, great layout and convenience. Such deals in Singapore investment property are always worth making as they are available at affordable prices. All these are well facilitated with both leisure and work for any individual. So to make a successful deal in a multi facilitated metropolitan city like Singapore, a real estate agent can provide worth countable suggestions to any client that approaches him.

Friday, 11 May 2012

Singapore Real Estate is Making Promises

It isn't that Singapore real estate is making verbal promises, but when you look at the numbers you cannot deny that the market is very promising for buyers. When looking at the figures as of 2006, we see that the private residential property price index showed a healthy 10.2% increase over its 3.9% increase from 2005. If you really want to get into the nitty gritty of the figures, then let's take into consideration that property prices in Singapore are up 15.8% since 2004.

It's not a mystery as to why the Singapore real estate market is on the rise since the economy is more or less taking it with it. The economy showed a 7.9% gross domestic product growth in 2006 versus the 2005 growth rate of 6.4%. However, it isn't just the economic growth that is fueling the Singapore Real Estate market. It is also new policies within the housing market that were put into place in 2005. These new policies include:

The loan-to-value increased from 80% to 90%
Foreigners are more likely to be able to purchase apartments due to certain rules no longer being put in place (foreign purchase no longer has to meet the criteria of: the building must be over 6 stories high and must be a condominium).
The allowance of single people who are not related to jointly purchase properties via their Central Provident Fund (social security pension).
Cash down payments are down to 5% from the previous10% on home purchases.

Home ownership has become a significant goal of the Singapore government. Due to this commitment and cooperation with the Housing and Development Board, Monetary Authority of Singapore, Urban Redevelopment Board, and the Central Provident Fund, home ownership has increased to 92% from its previous 27% as recorded in 1970. This is a success story in itself since Singapore encountered a housing crisis not long after it acquired its independence, but now Singapore real estate is certainly making a statement.

Upon achieving economic stability, the demand for housing in Singapore has increased and the housing prices have increased as well. The higher price of property makes for a stronger Singapore real estate market and as long as these higher prices continue, so will the promises and high expectations of real estate within Singapore. Without a doubt the numbers speak for themselves and they most certainly cannot be overlooked.

Thursday, 10 May 2012

The Real Estate Scene in Singapore

In the course of my real estate career journey, I have seen the ugly and the beautiful sides of this industry in Singapore. Unfortunately, the ugly side takes most of the roles:

1) The unbelievable poor attitude of some realtors;

2) The wrong education imparted by some team leaders from various agencies to their down-lines;

3) Customers are culprits too. Yes.

4) Some solicitors with very little knowledge of conveyance procedures, try to prove their worth, push all the blames to the realtors, so as to get away with, because, the word 'solicitors' carries more weight than the word 'realtors' I supposed;

With all that, no wonder the stigma of 'cowboy industry' adheres to the industry, here in Singapore.

Agents with little or no knowledge of their prospects' requirements, often waste their time, their prospects' time and the co-broke agents' time, in the name of self-center.

Team managers imparting wrong education to their down-lines, is the birth of unethical agents.

Agencies and team managers who often grade themselves as the '1st' in the industry, cause the formation of goose bumps all over my body.This keeps appearing on the classified ads every single day with:

'The Number 1 Real Estate Agency'; or 'The Number One Team in ABC Agency'.

In Singapore, most property buyers prefer to deal with the number one real estate company and the number one agent. In my opinion, this is over-rated. Clients are misled, confused and overwhelmed by many number 1s out there.

Pages on the Singapore Classified Ads of The Straits Times will be a lot cleaner if the relevant department from the Singapore Code of Advertising Practice keeps a watchful eye on this.

Customers(Sellers/buyers) who do not respect the time of realtors and owners, often arrive late, without prior notice.No words of apologies when they have finally arrived at the scene, an hour later.

Customers' responsibility to pay GST to registered agencies, refuse to acknowledge the tax, openly ask the realtors to absorb that expense, which is rightfully the formers'.

The move by the Singapore government to regulate the industry, through the newly formed Council for Estate Agencies (CEA) will certainly help to eliminate the obvious. Strict rules are set to fine and or jail unethical agents who try to perform pressure selling; dual representation - receiving commissions from both sellers and buyers.

The Consumers Association of Singapore (CASE) role is to protect the consumers, which, I fully agree. However, there is a need to protect the agents too. The unethical and unprofessional practices by solicitors and consumers must be looked into as well.It is not fair to smack rules that penalize all agents when there are agents who are lawful, ethical and honest, suffer from the strict rules being imposed by the Ministry of National Development (MND).

I guess, it is the beginning and the approaches will be fine tuned as the industry grows, but, don't take too long please. The industry was given the opportunity to self-regulate, it is a real pity that, the opportunity was taken too loosely, resulting the lost of 10 good years.

Recent Comments