Singapore Real Estate

It's not every day that I get to sell a 4 room flat at a 5 room flat price. Grateful for the my clients' trust and confidence in me!

I have broken my own record high at Country Park Condo which was set in Sep 2023. I am grateful for the trust my client has placed in me!!

🤩SRI has achieved the 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐭𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐞𝐝 𝐩𝐫𝐢𝐜𝐞 for a 3 bedroom unit at Country Park Condo in February 2024! 𝐓𝐡𝐞 𝐝𝐞𝐚𝐥 𝐜𝐥𝐨𝐬𝐞𝐝 𝐚𝐭 $𝟐,𝟒𝟑𝟖,𝟎𝟎𝟎 𝐨𝐫 𝐚𝐭 $𝟏,𝟕𝟗𝟖𝐩𝐬𝐟.

Comparatively, records show that the next highest transacted price for another similar unit in the development was done in February 2022 at $1,548psf, which was transacted at $2,100,000.

Congratulations on your amazing feat, Nick! 👏👏👏

My client told me that she had spoken to 4 different agents before deciding to engage me. I am both grateful and relieved that I'm was able to repay her trust by achieving a record high price for her unit!

📍𝟑𝟎𝟒 𝐇𝐨𝐮𝐠𝐚𝐧𝐠 𝐀𝐯𝐞 𝟓 | 𝟒𝐀 𝐇𝐃𝐁
𝟑 🛌 𝟐🛁 𝟏𝟎𝟗 𝐬𝐪𝐦

🔷 Top Floor Corner Unit + Recess Area
🔷 North-South Facing | Bright & Windy
️🔷 Short stroll to Hougang MRT, Cross Island Line, Hougang Mall, Kang Kar Mall & Coffee Shops
🔷 Within 1km from Holy Innocents', Montfort Junior, CHIJ Our Lady of the Nativity & Punggol Primary School

☎️ Contact Nick at 96444854 to arrange for a home tour!
📞 https://wa.me/qr/X6VRPGSSIHN5D1
🌐

📍 𝟭𝟬𝟵 𝗧𝗲𝗰𝗸 𝗪𝗵𝘆𝗲 𝗟𝗮𝗻𝗲 | 𝗘𝘅𝗲𝗰𝘂𝘁𝗶𝘃𝗲 𝗠𝗮𝗶𝘀𝗼𝗻𝗲𝘁𝘁𝗲
𝟰 🛌 𝟯🛁 𝟭𝟰𝟲 𝘀𝗾𝗺

🔷 Tastefully Renovated just 5 years ago
🔷 Unblocked and Open Greenery View from Living & Bedrooms
️🔷 North South Facing | Bright & windy
🔷 Within 1km from South View, Teck Whye and West View Primary School

Virtual Tour: bit.ly/109TeckWhyeL

☎️ Contact Nick at 9644-4854 to arrange for a home tour!

📞 https://wa.me/qr/X6VRPGSSIHN5D1
🌐

📍 𝐓𝐡𝐞 𝐓𝐞𝐦𝐛𝐮𝐬𝐮 | 𝐃𝐢𝐬𝐭𝐫𝐢𝐜𝐭 𝟏𝟗
𝐅𝐑𝐄𝐄𝐇𝐎𝐋𝐃 𝟑 𝐁𝐞𝐝𝐫𝐨𝐨𝐦 𝟐 𝐁𝐚𝐭𝐡 + 𝐔𝐭𝐢𝐥𝐢𝐭𝐲 | 𝟏𝟎𝟒𝟒 𝐬𝐪𝐟𝐭

✔️ North-South Facing | Unblocked Landed & Greenery View
✔️ Extensively Renovated 5 years ago | 101% Move-in Condition
✔️ Walking distance to Kovan MRT, Heartland Mall, Market & Amenities
✔️ Within 1km from Holy Innocents' and Xinghua, within 2km from Rosyth School, Montfort Junior, Paya Lebar Methodist Girls', CHIJ Our Lady of the Nativity and Xinmin Primary School

🎬 Virtual Tour: bit.ly/TheTembusu3br

☎️ Contact Nick at 96444854 to arrange for a home tour!

📞 https://wa.me/qr/X6VRPGSSIHN5D1
🌐 www.nicktan.com.sg

📍 𝐒𝐨𝐥 𝐀𝐜𝐫𝐞𝐬 | 𝐃𝐢𝐬𝐭𝐫𝐢𝐜𝐭 𝟐𝟑
𝟑 𝐁𝐞𝐝𝐫𝐨𝐨𝐦 𝟐 𝐁𝐚𝐭𝐡 | 𝟗𝟐𝟔 𝐬𝐪𝐟𝐭 | 𝟏.𝟐𝐱 𝐦𝐢𝐥 𝐨𝐧𝐥𝐲!!

✔️ Best Stack with Unblocked View
✔️ North South Facing | Bright & Windy
✔️ Direct Buses to Choa Chu Kang MRT, Bukit Panjang MRT, Lot One, Junction 10 & Hillion Mall
✔️ Stroll to Amenities such as NTUC and Coffeeshops
✔️ Within 1km from South View, Choa Chu Kang & Teck Whye Primary School

🎬 Virtual Tour: bit.ly/solacres3

☎️ Contact Nick at 9644-4854 to arrange for a home tour!
📞 https://wa.me/qr/X6VRPGSSIHN5D1
🌐 www.nicktan.com.sg

Grateful to the trust and support extended to me by my clients! Both units were sold with high Cash Over Valuation (COV)!

When a married couple purchases a HDB flat, they can structure the ownership such that one party is the owner, while the other party is the essential occupier, to meet the family nucleus requirement. This arrangement allows the couple to enjoy the full benefits of the CPF housing grant and "save" a name to purchase a private property after the Minimum Occupation Period (MOP) without having to pay Additional Buyer's Stamp Duty (ABSD).

However, as of today, HDB will be changing the way housing grants are distributed. Grants will now be distributed equally, meaning the essential occupier in the scenario described above will no longer be able to use his or her share of the housing grant to finance the flat, as only the owner is allowed to use CPF. Additionally, the essential occupier will be considered a 2nd timer and subjected to a resale levy in the future.

This could signal HDB's intention to discourage couples from buying a flat under such an arrangement.

Changes to income assessment, housing grant disbursement as HDB streamlines home buying process SINGAPORE: From Tuesday (May 9), people looking to buy Housing and Development Board (HDB) flats will have their incomes assessed over a period of 12 months, instead of the most recent three or six months. Announcing the changes on Monday night, HDB said it would also make changes to grant disbursem...

Our government has announced yet another round of measures aimed at keeping the market in check. Given the many rounds of measures in the past, it is likely that we can anticipate a decline in sentiments and transaction volumes in the next quarter or two.

However, there is always a silver lining. Buyers, especially first timers or those looking to upgrade stand to benefit from these market conditions. Since they are not subjected to ABSD, they will have more bargaining power during price negotiations. Couples can still achieve their dreams of owning more than one property by legally decoupling without exploiting any tax loopholes.

Congrats to my clients on securing a new home with such a serene and therapeutic view!

I often receive this question from my clients who are landlords: 𝐂𝐚𝐧 𝐭𝐡𝐞𝐲 𝐝𝐞𝐜𝐥𝐚𝐫𝐞 𝐚𝐥𝐥 𝐭𝐡𝐞𝐢𝐫 𝐫𝐞𝐧𝐭𝐚𝐥 𝐢𝐧𝐜𝐨𝐦𝐞 𝐮𝐧𝐝𝐞𝐫 𝐭𝐡𝐞𝐢𝐫 𝐬𝐩𝐨𝐮𝐬𝐞'𝐬 𝐧𝐚𝐦𝐞 𝐢𝐟 𝐭𝐡𝐞𝐢𝐫 𝐬𝐩𝐨𝐮𝐬𝐞 𝐢𝐬 𝐧𝐨𝐭 𝐰𝐨𝐫𝐤𝐢𝐧𝐠 𝐨𝐫 𝐞𝐚𝐫𝐧𝐢𝐧𝐠 𝐚 𝐥𝐨𝐰𝐞𝐫 𝐢𝐧𝐜𝐨𝐦𝐞?

𝐓𝐡𝐞 𝐚𝐧𝐬𝐰𝐞𝐫 𝐢𝐬 𝐍𝐎.

IRAS requires all owners to declare their individual share of the rental income. If the property is held under joint tenancy, each party must declare 50% of the rental income. If it is held under tenancy in common, each party must declare according to their share of the property.
Here's an additional tip for landlords: You can take advantage of deemed rental expenses, which are calculated as 15% of the gross rental income, when declaring rental income.


Source: The Sunday Times, 9th April 2023

Rental prices in Singapore going up and up! Have we reached the peak already?? Watch and find out more. Like and follow for more real estate tips!

Nick Tan on TikTok Rental prices in Singapore going up and up! Have we reached the peak already?? Watch and find out more..like and follow for more real estate tips!

My clients first engaged me in 2019, and I was able to successfully sell the unit back then. However, due to unforeseen circumstances and a change in their plans, the sale ended up being aborted.

They came back to me recently, and this time around, we had a smooth and seamless transition from their 4-room HDB flat to a 4 bedroom condo - making their upgrading experience a positive one!

The red-hot private rental market showing signs of slowing down?? The number of private units rented out in November was the lowest in the past 12 months.

Is this decline due to the quieter festive period or are tenants feeling the pinch of higher rental rates? The figures for the next few months should provide us with a better picture!

Singapore reported our 1st COVID case sometime in January 2020. Since then, prices of HDB flats have moved up steadily with an increase of about 30% in the median PSF price.

However, the number of HDB flats transacted in October 2022 has dipped below the 2000 units mark, the first time in many months. With ex-private property owners kept out of the market for the time being, prices may start to soften in the coming months.

Source: SRI BigData HDB Transaction Volume & Median PSF (Jan 20 to Oct 22)

📍 𝟵𝟲 𝗕𝗲𝗱𝗼𝗸 𝗡𝗼𝗿𝘁𝗵 𝗔𝘃𝗲 𝟰 | 𝟱 𝗥𝗢𝗢𝗠 𝗛𝗗𝗕
𝟯 🛌 𝟮🛁 𝟭𝟮𝟯 𝘀𝗾𝗺

🔷 Mid Floor | North-South Facing | Bright & Windy
🔷 Point Block with only 4 units per floor | Spacious Layout
🔷 Amenities, NTUC and Market at your doorstep
🔷 Within 1km from Red Sw****ka School, Yu Neng, Feng Shan and St. Anthony's Canossian Primary School.

Virtual Tour: bit.ly/96BedokN

☎️ Contact Nick at 9644-4854 to arrange for a home tour!

📞 https://wa.me/qr/X6VRPGSSIHN5D1
🌐 www.nicktan.com.sg

Another round of cooling measures was announced close to midnight. Let’s examine how these new measures may impact the market.

1. Banks will use 4% instead of 3.5% to compute the TDSR and MSR when granting a loan – With income unchanged, buyers will now be granted a LOWER LOAN AMOUNT. This is to safeguard homeowners and ensure that they do not overstretch themselves and are still be able to service their mortgage loan given the rising interest rates in the short to medium term.

2. 15 months wait-out period for private property owners and ex-private property owners to buy a non-subsidized HDB resale flat – Individuals who sold their private properties (except seniors above age 55) are excluded from the HDB market for 15 months! This move is to cool the HDB market as this group of buyers have the highest budget and are often more willing to pay a high Cash Over Valuation (COV) to secure their replacement homes. Expect the median COV to come down and the number of million-dollar HDB transactions to drop significantly.

3. HDB Loan-to-Value (LTV) for HDB housing loan from 85% to 80% - Again, to cool the HDB market as more cash or CPF outlay from the buyers are required to buy the same flat.

Cooling measures WILL NOT crash the market. These measures are introduced to provide an additional safety net for home buyers in a high interest rate environment and as always to promote a sustainable real estate market.

https://www.channelnewsasia.com/singapore/government-imposes-new-property-cooling-measures-maximum-loan-quantum-limits-tightened-loan-value-limit-lowered-2974776?cid=FBcna&fbclid=IwAR2A5uFp-Ihhk2uZxd0G47Jjy4m3ysPAEHfqc00k8kLasiEop7y48tm38dc

Singapore introduces new property cooling measures: Maximum loan quantum limits tightened, loan-to-value limit lowered SINGAPORE: The Government on Thursday (Sep 29) introduced a slew of new property cooling measures aimed at moderating demand amid rising market interest rates. The measures include tightening maximum loan quantum limits and introducing a 15-month wait-out period for private home owners buying Housin...

Happy to receive the Salespersons Achievement Award (Platinum) again! Grateful to all my clients for their kind support and referrals! :)

Rental scams are increasing due to the strong demand in the rental market. Sharing a real case which happened to one of my landlords recently.

We had leased the unit to a local family which consists of a couple and a baby and it was supposed to be a good tenant profile. Unfortunately, the tenants illegally sublet the unit out and also impersonated as the landlord and collected rental deposits from at least 3 victims. The victims each lost a high 4 figures sum of money.

Potential tenants should take note of the following:

1.      If it is too good to be true, it is probably a fraud. This rule of thumb is applicable to all kinds of scams. In our case, the victims are attracted to a lower than market rental rate. Logically speaking, why would a landlord want to settle for a lesser rate in a bullish market?

2.      Source for units only on reputable platforms such as Propertyguru and 99.co. The listings on these platforms are put up by licensed salespersons and due diligence is often conducted on the unit owners before they are advertised. Avoid those free online classified advertisements.

Sold above client's expectations!!

Grateful to clients who made an effort to write me an appreciation note!! 🙏🙏

Congrats to my clients who sold their unit at a great price and we managed to break the $900psf mark!

Buying a property together with friends or relatives is always a tricky affair. Everyone is excited during the purchase and usually there isn't much discussions on when to sell in the future or the target price to exit.

It gets even more complicated when unrelated parties come together and collectively purchase a property through a company!

This is the reason why I always tell my clients that they should always have an exit plan in mind before the purchase!

Source: The Sunday Times, 24th July 2022

📍𝗦𝗸𝘆𝗣𝗮𝗿𝗸 𝗥𝗲𝘀𝗶𝗱𝗲𝗻𝗰𝗲𝘀 | 𝗗𝗶𝘀𝘁𝗿𝗶𝗰𝘁 𝟮𝟳

𝟑 🛌 𝟑 🛁 𝟏𝟏𝟒𝟏 𝘀𝗾𝗳𝘁

🔷 𝗧𝗼𝗽 𝗙𝗹𝗼𝗼𝗿 | 𝟯.𝟳𝗺 𝗛𝗶𝗴𝗵 𝗖𝗲𝗶𝗹𝗶𝗻𝗴 | Best Stack with Unblocked View
🔷 MUJI Style Interior Design | 100% Move-in Condition
🔷 Walking Distance to Sembawang MRT/Bus Interchange, Sun Plaza & Canberra Park
🔷 Within 1 km from Canberra Primary School, Sembawang Primary School and Wellington Primary School

🎬 Virtual Tour: bit.ly/SkyparkResi

☎️ Contact Nick at 9644-4854 to arrange for a home tour!
📞 https://wa.me/qr/X6VRPGSSIHN5D1
🌐 www.nicktan.com.sg