Residential Property Financing

 Property finance is a key component for purchase new residential project in Singapore. When comes to financial part of investing in new poject, there are several major items that buyers should keep in mind.

First, it’s about the project payment scheme and timeline. Normal Progressive Payment Scheme or Standard Payment Scheme is the most common used by developer sales. Some projects like Executive Condominium, or after Completion of Statuary Certificate (CSC) projects use deferred payment schemes as alternative method. Timeline

Second, unless you are planning to make payment by cash and/or CPF, home loan is an essential instrument to finance your new home, which is regulated by Total Debt Servicing Ratio framework, Loan-To-Value ratio, and so on. 

Third, it’s about property related taxes, including Stamp Duty, Additional Buyers’ Stamp Duty, Seller’s Stamp Duty, Property Tax.

Fourth, it’s about use of CPF money which is relevant to Private Home Scheme and Retirement Sum Scheme. Other costs will involve legal fee, mortgage loan stamp duty, bank valuation fee, condo maintenance fee and the like.

EC project developments

EC development is a unique hybrid housing scheme for eligible Singaporean family to buy condominiums at affordable price. Comparable in design and facilities to private condominiums, EC units are meant for middle-class Singaporeans who can afford more than an HDB flat but find private property out of their reach.

The government will continue the scheme, saying that it is still a “relevant” and “market friendly” way of allowing “sandwiched” class to benefit from the EC project.  As former National Development Minister Khaw Boon Wan likened the EC scheme to offering buyers an upmarket Lexus car at the much lower price of a Toyota Corolla.

The government have worked out a series of regulations to promote the healthy continuity of EC housing scheme. Developers offer very market-friendly and affordable EC projects with up-to-date design, condo facilities and quality finishes for qualifying buyers. Here are a group of popular EC developments for sale in the market for your reference.

Private residential developments are upscale dwellings in Singapore. There are over 20% residents living in such estate clusters which including either condominium apartments or landed houses.

Non-Singaporeans may purchase private residential flats in apartments and condominiums. They are restricted from purchasing landed residences unless they first obtain approval from the Land Dealings (Approval) Unit of the Singapore Land Authority.

Private residential projects are steadily slated into the market by following the pace of the Government Land Sales and collective sales. Either brand-new 99-year leasehold or freehold new launch projects, you can both enjoy the well-designed private landscape, comprehensive condo facilities, multiple-choices of layouts, quality furnishes and fittings provided by private developers.

As the proud owners of private development, you are build your property asset progressively and create wealth and abundance for loved ones which can pass on to generations.

Let’s read some private residential projects, you can look into them by your preference and needs. Besides the attributes of projects, you are advised to follow the proven property investment tips.  

Luxury Residential Projects

Luxury residential developments is the brightest jewel in the crown in Singapore housing market. Given the pricest housing, they are sited in the prime districts in the centre area of the island. We have heard that many luxuruious homes are along Orchard Road, River Valley, Marina Bay, Sentosa, Tanglin, Holland Road, Bukit Timah Road and so on. Those upscale class homes are strategically in the central region with abuandant amnenities and close to the business district that spreads across the central and southern parts of the city.

The high-end residential projects are quite popular among high net worth individuals, either locally or internationally. This is the most international sector of Singapore proeprty market where wealthy Singaporean, Singapore Permenant Residents and foreign investors play the game together.

Luxury home prices have falled over 20% for the past several years given the cooling measures in place. Singapore’s luxury residential property has been priced competitively as compare to other global gateway cities. Market sentiment in the high-end segment have been improved. 2016 witnessed the shining sales performance from Cairhill Nine, Twin Peaks, Gramercy Park, Leedon Residence and so on. The luxury market had been the first to turn around.

Singapore’s economy shows more outlook confidence with over 3% increase in 2017. Reaching the four year high, develoeprs also sold the most private residnetial projects in 2017. The luxury project market have gone with good start in 2018. The luxury condominium, New Futura developed by City Develoments, has sold 20 units in its released South Tower in the private appointment-only sale activty during the period of 18 to 19 January. 

The Government has made great efforts to tranform the city country during the disruption of new technologies and diversify of global ecomony. Far away from over the hill, Singapore still deserves to its reputation for the conducive business environment, clear regulatory framework and a progressive ecosystem of financial and business services.

Singapore keeps on the way to enhance its status amongst the wealthy as a preferred location to live and do business in Asia. The established world-class infrastructure, education and healthcare systems further anchors its global city accolade by promoting a vibrant economy, which will in turn boost the country’s real estate landscape within the next decade.

As the essential part of wealth management, utra-high net worth individuals can still invest in the high-end residential projects to enhance its versatile asset portfolios. It’s the time to create more wealth and abundance for loved ones which can pass on to generations.

New Residential Property Buyer’s Guide

Do you need some useful property buyer guide? When comes to purchase new development in Singapore, you are strongly suggested to have a good idea about the country of Singapore, Singapore district guide, Singapore property market, Singapore growth areas, buying new project from developer and relevant topics.