126
Special shoutout to the Sun Rosier deal as the owner made 101per cent even after factoring the SSD in 6 months.
As you can see, it’s possible to profit off an en-bloc sale, even taking into account the SSD. This was why, in 2017 or prior, it wasn’t uncommon for investors to show interest even in very old properties (or sometimes, interest because the property was old).
However, we should note that 2017 was an exceptional year, and there have been many changes since
In 2017, local and foreign developers were both competing to build their land banks. This resulted in an en-bloc fever, with unusually high land prices. For example, Sun Rosier, in the above transactions, was bought at a total cost of $271 million.
Grants
None
Proximity Housing Grant of up to $30,000 (if unit is within 4 km of children or parents)
Family Grant and Enhanced Housing Grant, but there are income ceilings
Resale prospects
Pool of prospective buyers tends to be smaller, but fewer eligibility requirements for buyers
Buyers must be eligible to buy HDB properties, but there tends to be a much bigger pool of buyers
Lease decay issues
All resale flats are on 99-year leases Average island-wide, as of January 2021. The following is the price for leasehold and freehold shoebox units, as well as 5-room resale flat prices across Singapore, on a psf basis:
10.4
Divorce statistics in Singapore should you be interested
Just in case the worst happens, here’s what you need to know about retaining your property. Special thanks to Withers KhattarWong’s Ivan Cheong and Shaun Ho, for contributing their legal knowledge of the matter:
The situation may not be as “black and white” as we often assume
When talking to homeowners about the property as a marital asset, we often encounter oversimplifications. Statements such as “I paid more for it, so the house is mine”, or “It was willed to me by my parents, so my spouse has no claim”.
February 02, 2021
Stackedhomes
Maybe you’re not interested in waiting till you’re 35 to get an HDB flat; or maybe you’re ready to start investing in property already. Either way, with the recent surge of low-quantum properties, there’s a growing number of single Singaporeans who can now afford a private home.
This has led to an increasingly common question: is it a good idea for singles to start with a private condo? And what are some of the less apparent risks besides affordability? For those of you making this decision, these are the key factors to know about:
What are the key concerns of buying private property when single?