Make your home the bestseller in this market

While waiting for that Circuit Breaker (in Singapore) or Lockdown to be over, what can you do to make your property a quick sell in today’s market? The following  steps will prepare your home for a quicker sale and possibly a better price. The same applies to the Landlord who is looking to rent out his home quickly in the subdued market.

1. Overhaul your Home

If you have been dragging your feet to make all those repairs, now is the time to fix all of those nagging things that you just lived with. Inside the house, look for things like stained ceilings, missing tile, broken windows and doors, heavily scratched floors and other signs of neglect. If you have a wooden deck or parquet flooring, check for cracks in floor boards and loose railings. Make a list of everything you see and then decide which things you’re going to tackle. A competent Realtor can be very helpful in determining what needs to be done and what doesn’t.

2. Declutter

Resist the urge to roll your eyes at this one. It is imperative that your home looks livable. Potential buyers may not be able to see past your clutter. Think of it this way—don’t move things you no longer want or need. Make decisions now and your house will sell faster and your move will be easier.It’s no secret that getting started is the hardest part of decluttering. Take one room, or even part of one room, at a time and dive in. Recycle or shred paper. Donate books, toys, clothing and duplicate household items. If you’re getting frustrated and you can’t deal with one more stack of papers or shoebox of old photos, put them in a plastic tub, label the box and stack it somewhere out of the way. A stack of boxes doesn’t look like clutter.

3. Increase Home Appeal

It’s important that your home makes a good first impression. To make sure buyers want to see the inside of your home, make sure the outside is well-kept, tidy and inviting. It’s important to touch-up or completely repaint trim, keep the grass cut, edge along sidewalks and paths, maintain flowers and shrubs and keep the yard tidy. You never know when curious buyers will pass by. This is especially important as most impressions are first made online via images and videos. Getting your home to be Instagramable will be key to beat your competition.

4. A Paint job

A paint job can cover the unsightly cracks on the walls due to age and weather. If you decide to do some interior painting, stick to neutral colors. Neutrals don’t distract and they allow potential buyers to imagine their things in your home.

5. Clean up the place.

This may be the most important step you take toward getting your home ready to sell. For a home to live up to the “move-in condition” description, it has to be clean.If you already keep a clean house, simply keep up the good work, checking to make sure you don’t overlook little-used closets and other nooks and crannies that aren’t part of your weekly routine. This needs to be a deep cleaning.

6. Rearrange Your Furniture

Your furniture is arranged the way it best suits you and your family. When you’re staging your home to sell, you’ll need to use your furniture as marketing tools to help create that enhanced appeal. Avoid having furniture lined up along the walls. Pull the sofa away from the wall and pull chairs close to create a conversation area. Also, you may need to remove some furniture so it’s easy for people to walk around in the rooms.

7. Fresh Flowers and Plants

Greens are the cheapest makeover one can find to enhance the interior look. If the weather allows, plant flowers in pots, window boxes or right in the ground to add color and pump up the curb appeal. Pay close attention to the plants, keeping them watered and trimmed.Inside the house, fresh flowers in vases add color, life and the feeling that you, as the home seller, are putting your best foot forward. It may not matter to some buyers but others will appreciate this detail and take it as a sign that your home has been well cared for. The current trend of urban gardening and farming can help push that hesitant millenial buyer make that purchasing decision.

8. Upgrade Lighting

If your lamps and other light fixtures are outdated, consider replacing them with modern ones. Buyers don’t want to feel like they’re taking a step back in time with outdated fixtures. This is an easy fix that will help sell your home.

9. Engage a Professional

At the end of the day, you will need a professional to advise you on the current market in terms of price, stock turnover and trends. There are many DIY avenues to teach you sell your own home but most of the time, they are not as effective and efficient as engaging a competent Realtor to assist you in your home selling. In terms of price, effectiveness and efficiency, it is better to leave it to the professional. He can save you the time and efforts involved in what could be the greatest deal one may deal with in that year or years.

These are simple stuff that won’t cost you a bomb but will definitely increase the appeal of your home and get it sold in double quick time.

Advertisement

Recent Collective Sales in Mar 2018

1. Goodluck Garden (SGD $610M), Upper Bt Timah/Beauty World

The 210-unit residential developmen)t along Toh Tuck Road, has been sold collectively to the Qingjian Group of Companies for S$610 million. The sale price translated to a land price of about S$1,210 per square foot per plot ratio (psf ppr).  Each owner  should receive from S$924,000 to S$3.51 million upon the successful sale. The apartment sizes range from 95 sq m to 182 sq m, and the two shops are 30 sq m and 91 sq m, respectively. The development has a site area of 33,457.2 sq m. It is within minutes’ walk from Beauty World MRT Station. Based on a potential gross floor area of 46,840.08 sq m.3

2. Toho Mansion (SGD $120.43M), Holland Village

KBD Ventures, a subsidiary of construction and property developer Koh Brothers, has won the collective sale tender for Toho Mansion in Holland Road for S$120.43 million or around S$1,805 per sq ft per plot ratio. The freehold site, which has an area of 4,427.8 sq m and a plot ratio of 1.4, can be redeveloped into a potential gross floor area of 6,818.7 sq m, including a 10 per cent bonus balcony area.

Toho Mansion is a walk-up apartment complex with two four-storey residential blocks consisting of a total of 32 apartments. It sits on an elevated site next to a Good Class Bungalow housing estate and is in close proximity to Holland Village Shopping Centre and Chip Bee Gardens. Its many positive attributes include the coveted freehold tenure, single ownership, prestigious Holland Road address, high development baseline and the convenience of Holland Village, Chip Bee Gardens and the MRT station located right at its doorstep.

3. Makeway View (SGD $168M), Newton

A unit of Bukit Sembawang Estates has successfully tendered for the sale en bloc of the freehold Makeway View for S$168 million. The sale price reflects a land rate of S$1,626 per sq ft per plot ratio (psf ppr), including an estimated development charge of about S$21.26 million. Owners of the estate’s 28 apartments and four penthouses are expected to receive gross sale proceeds of between S$3.86 million to S$10.74 million per unit.

4. Katong Park Towers (SGD $345M). District 15

The owner of the biggest penthouse in the development will rake in $12.08 million after a unit of Bukit Sembawang Estates bought the estate for $345 million, which was about 20 per cent above the reserve price of $288 million.

The four other penthouse owners can expect proceeds starting from $4.95 million.

Other owners will receive proceeds ranging from $2.25 million to $3.23 million, depending on their floor area and size. Katong Park Towers comprises 111 standard apartments, five penthouses and two commercial units, all on a land area of 140,758 sq ft. It is about 200m from Katong Park MRT, which is slated for completion in 2023.

The site has a plot ratio of 2.1 and a maximum building height of 24 storeys. The site is not affected by any traffic impact study. Katong’s rich heritage and rejuvenation initiatives under the Kallang Masterplan presents a great value to the developer.

5. Eunos Mansion (SGD $220M), District 14

Fragrance Group has snapped up the freehold Eunos Mansion for S$220 million in a collective sale. The owners at the 111,735 sq ft site, bound by Jalan Eunos and Bedok Reservoir Road, are expected to receive between S$1.48 mil ion to S$2.19 million, while the those of penthouses will receive S$3.55 million and S$4.7 million, respectively.

With a plot ratio of 1.6, that translates to S$1,118 per plot ratio, including a 10 per cent bonus balcony. The site could yield a mid-sized condominium project, given its proximity to the up-and-coming Paya Lebar Regional Centre and business parks at Eunos and Bedok Reservoir. There are no development charges payable due to its high development baseline.

 

Recent Collective Sales in Feb 2018

1. City Towers (SGD $401.9M). District 10

The freehold condominium development in District 10 was sold for $401.9M in early Feb 2018. Each unit’s owner was to receive between $2.78M – 11.5M. The project consists of 77 units and sold 13% above reserve price. The rate was $1,847 psf ppr (including a $3.5M development charge). The site has a land area of about 104,531 sq ft (with a plot ratio of 2.1), and can be redeveloped to 24 storeys of 190 new units (average size of 1098 sqft). JAPURA Development, linked to Hong Kong tycoon Li Ka-shing’s Cheung Kong empire, is the party that clinched City Towers.

2. Pearl Bank (SGD $728M), Outram Park Vicinity

The iconic Pearl Bank Apartments was recently sold to Capitaland at $728M in mid Feb 2018. The price matches the reserve price of the owners, which translates to $1psf. ,515 psf ppr after factoring a $201.4M premium for a lease top-up to a fresh 99-year lease. The site has a land size of 82,376 sqft of existing plot ratio of 7.45. There are plans to redevelop the site into a 800-unit condo project of total GFA of 613,530 sqft. Break even prices are expected to be $2,000-2,250 psf. The project is located near to the Outram Park MRT interchange and Chinatown, and future units are likely priced to be between $2,400 – $2,600 psf.

3. Brookvale Park (SGD $530M), Sunset Way

Brookvale Park, a 160-unit development in Sunset Way, has been sold to Hoi Hup Sunway, a joint venture between Hoi Hup Realty and Sunway Developments, for $530 million. The sprawling 999-year leasehold land is in a central yet lush setting. The sale price reflects a land rate of about $932 per sq ft per plot ratio, after factoring in an estimated development charge of about $26 million. Each owner would expect to receive gross sales proceeds of between $2.5 million and $4.4 million per unit. The site is a short drive away from Holland Village and Bukit Timah Nature Reserve, and near reputable tertiary and international education institutions such as Ngee Ann Polytechnic, Singapore Polytechnic, National University of Singapore, Singapore University of Social Sciences and Canadian International School.

4. Riviera Point (SGD $72M), River Valley area

Riviera Point in Kim Yam Road was sold to Macly Group, a Singapore property developer in Mid Feb for $72M. Riviera Point’s site area stands at 14,579 sq ft. The use of the land has been zoned as “residential” with a plot ratio of 2.8 and a height control of 36 storeys. The verified existing gross floor area is about 49,265 sq ft, which translates to a plot ratio of 3.379.

5. Cairnhill Mansion (SGD $362M), Cairnhill Road at District 9

The development in Cairnhill Road was sold to Singapore-listed property developer Low Keng Huat for SGD $362M. Cairnhill Mansions, an 18-storey block comprising 61 apartments, sits on a land area of about 43,103 sq ft. The price tag works out to $2,311 per square foot per plot ratio (psf ppr).

 

 

Open House for Condo @ $788K! For Sale Kovan: Isuites

Are you looking to buy a freehold condo for less than $800K? Well look no further, as I have a 999-year leasehold (as good as freehold) condo in Kovan area for sale. Totally move-in condition! As owner bought it new 3 years ago and had a beautiful renovation for the home.

With balcony in a serene environment. In the hottest region in Singapore’s property market at the moment, after the recent sales in Serangoon Ville and Rio Casa. Call King for details @ 94772121.

http://www.sgbayhomes.com/16469602

Tokyo Properties Gallery

Due to overwhelming response, we are having another session this coming Sunday at Grand Hyatt Singapore 1-5pm. You are welcome to grace our event here if you are interested to invest into Tokyo properties, or even just to know abit more. Call 94772121 to book a slot.

Japan Property Gallery-Tokyo Roppongi

Are you looking at opportunities for Japan Real Estate? Come to our Property Gallery which will be held on 17/18 March 2018, at Hyatt Hotel Singapore, from 1 to 5 pm. Call David King @ 94772121 for more details.

9999 years heritage home for only $1.55M @ Farrer Park vicinity

Rare walkup apartment that contains memories of distant past. Looking to own an heritage home? With Collective sale potential! Call David King @ 9477-2121for more details

Accessibility (Location) : Joo Avenue (Walking distance to Farrer Park MRT and City Square Shopping Mall.

Budget: S$ 1.56M for almost Freehold space.

Capacity/Size: 1700 sqft   |  3+1+1 Beds   |  4 baths

Date of Availablity: Competitive offers are coming. Please hurry to secure your chance for great value!

http://www.sgbayhomes.com/20466444

District 9 Luxury Home for sale (Luma)

Are you looking to buy a prime District 9 freehold condo before it becomes less affordable? Here is your chance at the Luma.

Breathtaking view of the Prime Districts of 9 and 10 (Orchard Road, Paterson and Grange). Minutes to prime shopping belt of Ion Orchard, Ngee Ann City, Takashimaya, Wisma Atria and Paragon, this is the best ideal choice for expats. Selling with Tenancy. Upcoming MRT station coming soon.

Accessibility (Location) : Luma @ 6 River Valley Grove

Budget: S$ 1,818,000   (S$ 2000+ psf)   | 

Capacity/Size: 904 sqft (83.98 sqm)    |  2 Beds   |  2 baths

Dateline: Selling with Tenancy till 2019

http://www.sgbayhomes.com/18635169

Call 94772121 for details or you can fill up the form for future correspondence.

Name(required)

Email/Contact No(required)

Comment(required)

Submit

Δ

 

Freehold Orchard Condo 5th attempt at Enbloc Windfall

Home owners at freehold condominium Cairnhill Mansions are looking to ride the wave of collective sales as they gear up for their fifth attempt at selling their estate, according to local news media.

The estate in Cairnhill Road consists of a 61-apartment complex with a maximum gross floor area of about 172,240 sq ft, yielding potentially 140 new units in the redevelopment.

At a guide price of $362 million the owners are seeking a higher rate than their last bid in 2011 — translating to $5.7 million each, or about $2,800 per sq ft (psf). Similar projects nearby have sold at between $1,700 psf and $4,000 psf for the past few months.

The estate’s prime address is expected to carry a premium. Not too far away at the former Zouk club address in River Valley area, a developer committed to bid at least $689.4 million for the government reserve site, triggering an URA land sale tender. https://www.ura.gov.sg/uol/media-room/news/2017/Sep/pr17-62

The Jiak Kim Street site can accommodate 525 apartments in a development up to 36 storeys, with ground floor commercial use.

 

En Bloc fever catches on (updated: Normanton Park sold at $830.1M on 5 Nov)

The collective sale fever in Singapore is gathering steam as the news of record enbloc deals and potential sites looms. Among the latest that are joining the fever are:

1. Pine Grove ($1.65B)
Owners of the 660-unit former HUDC estate are aiming to achieve the largest collective sale deal in Singapore. The price tag of $1.65B is much higher than the last record of $1.34B deal made in Farrer Court in 2007.

An extraordinary general meeting will be held on Oct 29 to get at least 80 per cent of owners to back the en-bloc sale. Based on the minimum reserve price, each owner is looking at receiving $2.08 million to $2.64 million per unit.

It will be the estate’s 3rd attempt for a collective sale after a no-bid attempt in 2011 following the owners raising the reserve price from $1.33 billion to $1.7 billion. Its first try was in 2008. The 99-year leasehold project has 66 years left on its tenure

2. Braddell View ($2B)
Braddell View, the largest of Singapore’s 18 HUDC estates and the last to be privatised in March this year, is planning to jump on the en bloc bandwagon.

The 918-unit estate is holding an extraordinary general meeting on Oct 10 to form a collective sales committee to kick-start the process.

The reserve price for the 1.124 million sq ft development is S$2 billion. If successful, this would easily eclipse Pine Grove’s S$1.65 billion en bloc attempt. The 99-year lease Braddell View development has 63years left on its lease.

3. Spring Grove ($1B)
Owners in the 325-unit estate are targeting at least $1 billion sales price. They had asked for $1.39 billion in 2014. A $1 billion price works out to about $1,807 per sq ft (psf), based on a maximum gross floor area of 553,377 sq ft. This is above the $1,285 psf to $1,438 psf that units in the estate have fetched so far this year.

There are quite a lot of sales en bloc going on now, but not that many are in the prime district, so that’s something going for this development.

4. Normanton Park ($0.8B) — updated: sold at $830.1M
It will be second-time lucky in its collective-sale bid at an $800 million reserve price for the hopeful owners at Normanton Park.

The Normanton Park owners are among those capitalising on the collective-sale fever. It failed in its previous bid in 2015. The tender will close today on Oct 5 at 3pm.

Based on the reserve price, each Normanton Park unit owner could get between $1.6 million and $1.8 million. This translates to a land rate of about $898 per sq ft per plot ratio (psf ppr), which includes a differential premium for intensification of the site of about $225.3 million, and a top-up premium of $220.6 million for a fresh 99-year lease.

Update: Normanton Park has been sold to Kingsford Huray Development for S$830.1 million — translating to a land price of approximately S$969 per square foot per plot ratio (psf ppr), is the highest land rate for a 99-year leasehold collective sale site this year.

Each home owner will stand to receive about S$1.68 million to S$1.86 million. Kingsford will have to fork out a premium of about S$231.1 million top up the lease to another 99 years, and top up about S$283.4 million to redevelop the site to a gross plot ratio of 2.1.

5. ICB Shopping Centre ($65m)
This is the first en bloc attempt by ICB Shopping Centre, a mixed-use development in Yio Chu Kang Roadwhich is more than 30 years old. It comprises six apartment units (of between 1,324 sq ft and 1,550 sq ft) and 13 retail units. The site about 1 km from Nex shopping mall and Serangoon MRT station, and is also near eateries and other small retail shopping areas.

The development’s residential and commercial owners are looking for a price of S$65 million to S$70 million. Based on its maximum potential gross floor area (GFA), the asking price range translates to a unit price of about S$1,390 per sq ft (psf) to S$1,500 psf.

The development sits on a freehold plot with a land area of 15,548 sq ft. It has a current GFA of 25,123 sq ft, but with a plot ratio of 3.0, it can be built to a maximum permissible GFA of 46,643 sq ft.
Concerns about current enbloc fever
Though the enbloc fever looks to getting even hotter, the concerns among the industry players are about the sustainability of the momentum over the long run. The market can only absorb one or two big sites. Some of the record-aiming enbloc sites have such huge sizes that the interested developers will need to factor in expected costs if they cannot finish selling the completed units.

Selling all the units within five years of buying the land to avoid additional buyer’s stamp duty (ABSD) will pose a challenge. This could affect the price developers are prepared to pay for the site.

Projects such as The Interlace and d’Leedon, which were built on large sites sold during the 2007 en-bloc boom, are still left with unsold units, together with the existing launches which have unsold inventory. New launches will face some fierce competition among the existing unsold units as well as among themselves.

To top it off, the property rental market has yet shown signs of shaking off its lull as well amidst the economic/employment uncertainty. Unless the authorities loose up the policy of workforce, and new jobs emerge from the current lacklustre market, it remains to be seen if new launches can provide good returns to prospective buyers.