Moving to Singapore - should I just buy rather than rent?

Discuss about where to live, renting a property, tenancy issues, property trend and property investment in Singapore.
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SingMark
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Post by SingMark » Wed, 14 Dec 2011 10:25 am

No problem at all!

Banks are usually willing to lend up to 80% on a first purchase. Rates are low at around 2%.

But the Govt just introduced a stamp duty of 13% on the purchase of a property. Which kind of throws a spanner in the works :(

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ecureilx
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Post by ecureilx » Wed, 14 Dec 2011 10:32 am

SingMark wrote:No problem at all!

Banks are usually willing to lend up to 80% on a first purchase. Rates are low at around 2%.
For foreigners ?? WOW .. where ?????????????????????

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Post by Segue » Wed, 14 Dec 2011 11:25 am

SingMark wrote:Thanks -apart from the luxury market, how about older style places in nice areas such as near the bottanical gardens. Places that have a nice layout, higher cielings, but are a little outdated inside in terms of furnishings, etc? Some are around 1800 per square foot. That seems quite high to me!

$1,800/sq ft is quite a low price for that kind of prime area. Yes, you can only get an older place for that kind of price.

Districts 9/10/11 typically you can't touch less than $2,500 for a newer place.

Also, when they refer to "luxury" here its more about the location than the actual building. If you see condo in those price ranges in CBD, you won't think its "luxury" by any standard. To get to the "wow" type of building you need to be in the $3,500+ range.

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Post by SingMark » Wed, 14 Dec 2011 2:40 pm

That is extremely expensive. If you look at some nice places in Hong Kong where I live, the places are around 1000 to 1500 per square foot (if you measure in Sing dollars). And these are apartments in Hong Kong for expats:

http://parkislandhongkong.blogspot.com/ ... -rent.html

http://parkislandhongkong.blogspot.com/ ... sland.html

Now these are not in the most prestigious locations like the Peak in HK or Repulse Bay, but still extremely nice.

So it seems Singapore is now more expensive than HK?

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Post by Segue » Fri, 16 Dec 2011 3:14 pm

SingMark wrote:That is extremely expensive. If you look at some nice places in Hong Kong where I live, the places are around 1000 to 1500 per square foot (if you measure in Sing dollars). And these are apartments in Hong Kong for expats:

http://parkislandhongkong.blogspot.com/ ... -rent.html

http://parkislandhongkong.blogspot.com/ ... sland.html

Now these are not in the most prestigious locations like the Peak in HK or Repulse Bay, but still extremely nice.

So it seems Singapore is now more expensive than HK?
If you look in the East Coast, I think you might be able to get something with ocean view for $1,500.

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Post by SingMark » Wed, 21 Dec 2011 2:19 pm

Well 1500 is still pretty pricy! But I will consider it. Can you provide any specific suggestions?

I looked at buying the new SoHo apartments in Singapore today. 3000+ per square foot. Crazy prices.

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Post by SingMark » Mon, 26 Dec 2011 9:20 pm

Another thought. How feasible would be to live somewhere isolated, perhaps by the airport, but then just get a car to drive around. If its nice and peaceful out there, and good for kids and a dog etc, is that a good option? What could you get in such an area for 2-3 mil?

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Post by zzm9980 » Tue, 27 Dec 2011 9:09 am

That's pretty far out there. If you a pick an area like Pasir Ris, that is in the rough general vicinity of the airport and you will do a little better for your money. If you mean Changi right by the actual airport, you'll do a lot better for your money, but there is nothing there. I guess it really depends on you, how much sq/ft-age vs a convenient location mean to you.

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Post by ecureilx » Tue, 27 Dec 2011 9:11 am

SingMark wrote:Another thought. How feasible would be to live somewhere isolated, perhaps by the airport, but then just get a car to drive around. If its nice and peaceful out there, and good for kids and a dog etc, is that a good option? What could you get in such an area for 2-3 mil?
Merry Christmas to you chief ..

If you had 2-3 million (I am assuming S$ or US$, not HK$), wouldn't you know what to do ?? :) :)

Well, that's what a property guy whom I know, who owns a few apartments said

The said guy has bought apartments in Arcadia, Compass Heights, and Kovan Melody and The Sail, and has slowed down since the property cooling measure ..

Maybe I am wrong :)

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Post by sundaymorningstaple » Tue, 27 Dec 2011 9:41 am

Maybe.
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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Post by SingMark » Tue, 27 Dec 2011 1:09 pm

ecureilx wrote:
SingMark wrote:Another thought. How feasible would be to live somewhere isolated, perhaps by the airport, but then just get a car to drive around. If its nice and peaceful out there, and good for kids and a dog etc, is that a good option? What could you get in such an area for 2-3 mil?
Merry Christmas to you chief ..

If you had 2-3 million (I am assuming S$ or US$, not HK$), wouldn't you know what to do ?? :) :)

Well, that's what a property guy whom I know, who owns a few apartments said

The said guy has bought apartments in Arcadia, Compass Heights, and Kovan Melody and The Sail, and has slowed down since the property cooling measure ..

Maybe I am wrong :)
I have ability to borrow 2-3mil Sing Dollars. But just because I can borrow, it does not mean I know where to buy in Singapore. I am new here!

How about a more isolated location near the Biopolis. Any suggestions?

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Post by ecureilx » Tue, 27 Dec 2011 1:39 pm

SingMark wrote: I have ability to borrow 2-3mil Sing Dollars. But just because I can borrow, it does not mean I know where to buy in Singapore. I am new here!
Sounds fair .. cos I thought you are paying "CASH" :D :D

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Post by SingMark » Tue, 27 Dec 2011 3:35 pm

Ha ha - like those rich mainlanders you mean? Nah, not me. I prefer to borrow and leverage anyhow.

So, any suggestions about a more remote place, more in the countryside area, near One North/Biopolis?

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zzm9980
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Post by zzm9980 » Tue, 27 Dec 2011 8:51 pm

You really won't find many places like what you're looking for... There is no designated "cheap/remote" area. Any developer who built anything has an angle and will be trying to milk maximum profits.

Or, to look at it from a "Glass half full" perspective, any area outside of District 9/10 is the cheaper more remote areas you're looking for :P

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Post by boffenl » Thu, 29 Dec 2011 10:31 am

Um, One North/Biopolis is certainly NOT remote. Just because it's outside the CBD doesn't mean it's remote. In fact, with the new MRT line it's become a hot location. Remote in Singapore means Kranji or possibly Tampines.

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