S$ 300,000 Profit! When should you sell your BTO?

There’s a reason why many Singaporeans equate balloting for Build-To-Order (BTO) flats to a lucky draw. It’s not just because there’s always almost an oversubscription of hopeful buyers to obtain their first or second HDB flat; rather, it’s because up until now, BTO flats have almost always been sold at a profit. This lies largely with just how subsidized the flats are in the first place – the government sells them way below market price.

Up until this point, this is all common knowledge; what we want to analyze is, when is the best time to sell your BTO flat to maximize its profits? We’ll explore this article in 3 parts:

1. BTO resale transaction over a 5 year period

Firstly, we’ll talk about the hard data regarding the average psf of BTO flats, and analyze, based on the trends of 8 BTO estates, when exactly BTO flats can be sold at its peak price.

2. BTO Hard Profit

Secondly, we’ll talk about when you should sell your BTO flat based on how you paid for your BTO flat in the first place.

3. The reasons why you may not want to sell your BTO flat, even for a large profit?

Thirdly, we’ll conclude by giving our opinions on why you may not want to sell your BTO flat, even if you can sell it at a profit.


1. BTO resale transaction over a 5 year period

Many Singaporeans tend to sell their BTO flats immediately after the 5-year Minimum Occupation Period (MOP) is reached. Let’s take a look at the following table that includes the sale transactions of 8 BTO flats to see if this decision is the correct one to maximize the sale profits of BTO flats.

Highlighted in red are the peak BTO sale transaction prices within 5 years after its MOP period. As we can see from the table, 6 out of 8 BTO estates saw the prices of their units peak either on the year of MOP, or within 1 year of that, with only Sri Geylang Serai and Treelodge@Punggol continuing to appreciate over the 5 years. We should note that for Treelodge@Punggol, its average psf increased only by $10 5 years after its MOP period; as for Sri Geylang Serai, its location is pretty much unmatched, and is definitely an outlier in the charts due to its location.

Sri Geylang Serai Source: Archnet

We can see that in most cases, maximum profit can be made when the BTO flat is sold early, right after it MOP. In any case, let’s zoom in on an actual example, highlighting the clear profits and how the exact calculations go down.


 2. BTO Hard Profit

Let’s assume you and your spouse or fiancée are fresh graduates who have been offered starting pay, and you work for about two to three years before deciding to apply for a BTO flat together. On average, your individual salaries would be between 3.5 to 4 thousand dollars each.

Enhanced Housing Grant(EHG) Source:HDB

In this case, couples would be eligible for a HDB Enhanced Housing Grant (EHG) worth 15 thousand dollars, that counts as Central Provision Fund (CPF) savings in their Ordinary Account (OA) when used to buy their BTO.

Based OnAmount in CPF account when purchasing BTO Flat
Average monthly income of household$ 62,100*
Money earned from EHG Grant$ 15,000
Grand total$ 77,100
*CPF was calculated as follows: savings from OA are 23% of wages; assuming both individuals earn 3.75 thousand dollars a month, the combined total moved into their OA per month is 1.725 thousand dollars per month. This amount is multiplied by 36 months, as we assume that the couple buys their HDB flat 3 years after they begin working.

With that out of the way, let’s calculate what happens after five years, when the couple is ready to sell their BTO flat. Assuming they use a HDB loan, and using Coralinus as an example.

HDB Housing Loan
Down payment made with CPF$ 19,162
Down payment made with cashNIL
Total amount to be paid off after 25 years$234,715
Hard profit earned after reselling flat right after MOP$ 303,245
Amount to be placed back into CPF OA account,
including accrued interest
$ 21,680
Final Profit Remaining$ 46,850

The final hard profit that a couple selling their BTO flat would earn in this case, is $46,850. Who wouldn’t jump at the chance to earn such a sum of money, in just a span of 5 years? The thing is, things aren’t always as simple as that. As such,


3.  The reasons why you may not want to sell your BTO flat, even for a large profit?

To answer this question, end goal plays a huge part. We’ll split this segment into three parts.

A. Large Condominium

Firstly, let’s say that your end goal is to upgrade to a large condominium that your entire family can live in. A property like that with a good location doesn’t come cheap – 10 or 20 years later, it’s probably only going to be more expensive.

The calculations come in if you choose to sell your property now for its maximum profit, and relocate to a resale HDB flat or a smaller condominium using that profit. Even if your BTO flat can generate profit, it doesn’t mean that your next property will. With how the resale HDB market has been looking lately. You may either just breakeven, or sell at a price lower than what you bought it for in the future.

In this case, it may benefit you to be a little more prudent and continue holding on to your BTO flat until you’re ready to upgrade to a condominium. Because like we’ve said before, it’s almost impossible for BTO flats not to be sold at a profit. In any case, maximizing your profits doesn’t just mean selling your property at the highest price possible. It can also mean maximizing the use of your profits.


B. Large Resale HDB Flat

Secondly, your end goal may actually be to live in a large resale HDB flat in a prime location, because of how affordable it is for its size and location, as compared to condominiums.

In this case, you may as well sell your BTO flat and immediately upgrade to the resale HDB flat you are eyeing, putting the entirety of your profits into your next resale HDB flat.

C. M.O.P Period

Lastly, your end goal might actually change after you’ve moved in to your BTO flat. 5 years waiting for it to MOP is a long time. In those 5 years, you may have started a family, made friends, or maybe your elderly parents have joined you to live in that particular estate.

Moreover, you have to factor in the fact that you have to spend about 4-6 years waiting for your BTO flat to even be ready. After waiting for such a long time for your flat, it is inevitable that you might feel some hesitation towards selling your flat after a measly five years. There have been some people that were content enough with their lives in their BTO flat that, even though they could have sold it at a profit, have chosen not to. In simple terms, money isn’t everything.


Conclusion

The question of when you should sell your BTO flat isn’t as simple as it seems. Sure, the simple answer is right after it MOP, but there’s a lot more financial calculations, future goals, and personal priorities that come with it.

At Home Quarters, we take all these factors into account before we advise you on how to sell your property, or what property we believe you should buy. We’d be happy to provide you with various analyses, advice, and any sort of assistance you may require, whether you’re a buyer or a seller. Leave your contact details and any queries down below, and we’ll contact you ASAP.


Contact Us

If you have any opinions regarding this article, you can let us know through commenting on our YouTube that we did on this article, sending us a quick email, or hitting us up on our Facebook and Instagram pages to shoot us a quick direct message.

If you have questions or if you are thinking about properly showcasing your house for sale, whatsapp message or call KC from Home Quarters and begin finding your new home today: +65 8809 2889!

That’s all for this article! Stay safe, and remember, call Home Quarters and start packing!

Which Executive Condominium earn up to S$1,127,000 ?

In our previous article about when you should sell your Executive Condominium (EC). We discussed Bishan Loft as a major anomaly. Its average price psf has increased by about 167% since it first obtained its Temporary Occupation Permit (TOP) in 2003: from an average of $440.80 psf in 2003, to an average of $1176.30 psf in 2020.

Bishan Loft Source: Propertyguru

Amongst all its Executive Condominium counterparts, it has experienced the most explosive growth thus far. And this growth may not stop anytime soon. Well, that’s nice and all, but we sure this is the question that everyone is wondering. Why has it done so well?

In this article, we’ll be exploring several factors that may have contributed to Bishan Loft’s insane profit margin over the past 17 years, in hopes that we know what exactly to look out for when buying a property that we hope will experience large capital appreciation in the future, just as Bishan Loft is experiencing.


1. Demand and Supply

Demand and supply is an economic concept that we’re all familiar with. And it’s one that applies to property as well. When we talk about D&S with regards to Bishan Loft, we’d like to discuss the number of condominiums in close proximity to Bishan MRT station.

Bishan MRT Surrounding Private Property Source: URA

Looking at the Urban Redevelopment Authority (URA) private property map, we see that there are only six condominiums near Bishan MRT, including Bishan Loft. Let’s compare this to a similar region that’s also within the Rest of Central Region (RCR) circumference that’s also considered a mature estate like Bishan – Paya Lebar.

Paya Lebar MRT Surrounding Private Property Source: URA

There are more than twenty condominiums in the vicinity of Paya Lebar MRT. We can see from this comparison that there’s a huge difference in supply between Bishan and Paya Lebar MRT stations when it comes to condominiums.

And where supply is limited and demand is high, we see prices soar. A lack of condominiums in the area around Bishan MRT has directly contributed to the high prices of Bishan Loft.


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 2. Floor Plan

As a follow-up to the previous point, we’ll be directly comparing Bishan Loft to the other five condominiums in its vicinity.

Bishan 8 floor plan Source:SRX

One thing stands out when we compare Bishan Loft to its condominium counterparts, Rafflesia and Bishan 8, which were also built around the same time period: the two other condominiums have extremely odd-shaped units. Compared to them, Bishan Loft’s regular rectangular-shaped floor plans would be much more appealing to buyers.

Similarly, in 2012, Clover By The Park was launched with floor plans that were slightly atypical. While there isn’t much to say about Sky Habitat and Sky Vue, launched in 2015 and 2017 respectively, we can see that based on floor plan alone, we can confidently say that the measly five condominium competitors in the vicinity have already been narrowed down to simply two.


3. Location

It is arguable that Bishan Loft is located in one of the most enviable areas in a mature estate. As mentioned above, not only is it located less than 10 minutes away from Bishan MRT by foot, and thus also within walking distance of the shopping mall Junction 8, it’s also located extremely close to Raffles Institution (RI), Catholic High School, and also Eunoia Junior College.

Bishan surrounding amenities Source: openstreetmap

And again, as mentioned, it’s located in the RCR, and also a mature estate. Other than that, Bishan Loft is surrounded by HDB flats, and consequently has many childcare centres surrounding it. For the same reason, there’s a plethora of neighborhood coffee shops surrounding the property.


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4. Initial price

The three above factors talk mostly about why the current average psf of Bishan Loft is so high as compared to its other counterparts or alternatives; however, what contributes to profit margin isn’t just its final selling price, but also its initial price.

There are two factors that have contributed the most to its low starting average psf. First and foremost, Bishan Loft is an executive condominium, which means that most of its prices are sold at a discount as compared to its condominium counterparts.

Executive Condominium Eligibility Source: HDB

This is because Executive Condominiums can only be sold to Singaporeans and Permanent Residents (PRs), and the Minimum Occupation Period (MOP) of five years has to be fulfilled, much like a Housing Development Board (HDB) flat.

We see this clearly when we compare the starting average price psf of Bishan Loft, an Executive Condominium, and Rafflesia, a condominium, both with similar characteristics. Bishan Loft saw a starting average psf of $440.80, while Rafflesia saw a starting average psf of $708.00

Secondly, the launch of Bishan Loft in 2001 occurred right when the property market was experiencing a slight downturn.

Private Residential Prices Source: Edgeprop

From the graph above, we can see that in 2001, property prices were slowly declining, and market outlook didn’t seem too optimistic. We can assume that Bishan Loft units were sold at a slightly lower average psf so as to attract more buyers during that period.

With these two factors in mind, we can see why the average starting psf of Bishan Loft units are considered low compared to its condominium counterparts, and other Executive Condominiums in Singapore.


Conclusion

To sum up what we’ve mentioned in this article, we can conclude that demand and supply in a highly-sought estate or prime location has definitely been a key contributor to Bishan Loft’s continuously increasing average psf over the past 18 years. Moreover, when buying a property, taking into account the current stage in the property cycle is important as well: after all, buying at a low initial price contributes to an even greater profit margin in the future.

At Home Quarters, we take all these factors into account before we advise you on how to sell your property, or what property we believe you should buy. We’d be happy to provide you with various analyses, advice, and any sort of assistance you may require, whether you’re a buyer or a seller. Leave your contact details and any queries down below, and we’ll contact you ASAP.


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We’d also love to hear your opinions on this article. Do you think there are any other reasons why Bishan Loft did so well? Or are there any other properties you know did very well too, and would like us to write about?

You can let us know through commenting on our YouTube that we did on this article, sending us a quick email, or hitting us up on our Facebook and Instagram pages to shoot us a quick direct message.

If you have questions or if you are thinking about properly showcasing your house for sale, whatsapp message or call KC from Home Quarters and begin finding your new home today: +65 8809 2889!

That’s all for this article! Stay safe, and remember, call Home Quarters and start packing!

Five weird lifestyle-changing factors for HDB Flat

You’ve probably stumbled across this article if you’re kiasu like me – you don’t want to buy your dream HDB flat, be it BTO or resale, only to realize that your dream has somehow warped into a chilling nightmare. Sounds like an exaggeration?

For some of you, it may very well not be. To avoid such a situation occurring, we’d like to present to you five weird lifestyle-changing factors that you should look out for before buying a HDB flat.

Five weird lifestyle-changing factors for HDB Flat

1. HDB Flat Pets

The Housing and Development Board (HDB) is actually extremely strict about the specific types of pets that can be raised in a flat. If you’re planning to get a pet in the future, or you already own one and plan to bring it with you to your new HDB flat, this section is most applicable to you.

Five weird lifestyle-changing factors for HDB Flat

HDB Approved Dog Breeds Source: HDB

Let’s talk dogs. HDB allows for 62 breeds of dogs, and the full list can be found here. However, that’s not all, you can only keep one dog in your HDB flat. And if it is a mixed breed, it can only come up to a maximum height of 55cm.

Five weird lifestyle-changing factors for HDB Flat

Cast are not allowed in HDB flats Source: HDB

Regarding cats, though, HDB actually implemented a rule whereby cats are not allowed to be kept in HDB flats. We’ve actually covered all the finer details in our article, where we discuss why this rule was implemented, and other alternatives you can explore if you’re adamant on owning a cat.

Other pets like rabbits, guinea pigs, or fish, are fine though. Though, we should mention that if you’re a fan of exotic pets, you do need to take a look at exactly what can and cannot be kept in HDB flats, which you can find on the HDB website.


Scroll down to download the FREE 15 MOST IMPORTANT FACTORS CHECKLIST before buying HDB flat!


 2. HDB Flat Gentrification

Gentrification is a term that’s been on the rise for a while. In a traditional sense, the word is used to describe how a neighbourhood changes to become one that caters more to wealthier households than before.

Five weird lifestyle-changing factors for HDB Flat

Tiong Bahru Bakery Source:Casual Diner

We’ve been seeing something similar in various neighbourhoods, most notably with the example of Tiong Bahru. Tiong Bahru is a neighbourhood in a now-prime region that’s witnessed the emergence of a large number of artisanal cafes. While residents haven’t really been complaining about the changes to the area as they cite Tiong Bahru Market as a highly accessible option for cheap hawker food, this may not be the case for other estates that may undergo gentrification in the near future.

Five weird lifestyle-changing factors for HDB Flat

Tiong Bahru Club Source:SG Magazine

If you’re someone that prefers a wide variety of old school kopi and a delicious hokkien mee full of wok hei flavor over a pleasant cappuccino and a fancy eggs benedict, this may be a factor you want to take into account before you move into your new neighbourhood.

If this seems like a major concern to you, and you’re uncertain as to whether or not a neighbourhood you’re looking to buy a flat in might undergo gentrification, leave your contact details!

Home Quarters would be more than willing to take a look at your options and advise you on how to proceed.


3. HDB Flat with quirky shapes

This section applies more to those buying resale HDB flats; BTO flats today are thankfully shaped in a standardized way. There are some older HDB flats out there who have weirdly shaped floor plans, such as fan-shaped ones, or units that, for some reason, lack corners.

In any case, some of these shapes may not be obvious to you at first glance. This may not always necessarily be a bad thing, though; some owners just take it in stride.

HDB Flat Weird Floorplan

Curve shape corver unit Source:Renovation.sg

However, there are some problems that you may see cropping up. The problem that we personally would take the most seriously is the inability to maximize space. Most flats in Singapore are already not as large as most would like; having a shape that, for example, causes your dining table to be unable to fit into a certain corner, would mean that that table would have to be put somewhere else, that could have been empty.

This may give your house an illusion of being more cramped than it actually is. Well, this problem, like many others, can be easily fixed with money. Having a budget to buy or craft customized furniture that best suits the shape of the house, or to fully renovate the house, could possibly guarantee not only a complete utilization of space, but also capitalize on the special shape of the house.

This could also mean that your house looks especially unique and intriguing to guests. But of course, these benefits come at the expense of an increased cost of acquisition of the flat.


Scroll down to download the FREE 15 MOST IMPORTANT FACTORS CHECKLIST before buying HDB flat!


4. HDB Flat Hidden Fees

While HDB flat owners pay less in maintenance fees (officially called the Service and Conservancy Charges (S&CC)) than their condominium-owning counterparts, when you’re looking to buy a resale HDB flat, it would be best to look out for any sort of hidden fees that you might have to pay once you move in.

HDB Flat Hidden Fees

These can come in the form of pest problems (paying for a pest exterminator to come in), faulty water heaters (having to replace them in all the toilets), wiring problems (more applicable to those who aren’t planning on renovating their new home), or having to install your own air-conditioning units.

While these may not seem like they cost a lot, you might find better alternative flats that don’t require such troublesome services, despite being just a tiny bit more expensive.


5. Location of flat within the block

A lot of people talk about the floor level of their units as a key factor they take into consideration. Something else you can take into consideration. However, is where exactly your unit is located on whatever floor.

HDB Flat Corridor Unit

HDB Corridor Unit Source:shaheed salim

Take for example, a comparison between a corridor unit and a corner unit. A corner unit usually provides more privacy due to less foot traffic, and would also prevent people from accidentally destroying your houseplants or kicking your shoes by accident. On the other hand, some actually prefer corridor units as they feel less stuffy, and its orientation allows natural light into their living rooms.

HDB Recess Area Source: Fatema Design Studio

Another interesting tidbit here: you know that little area outside your HDB flat along the corridor? You can actually buy that space and have it renovated to your liking. It comes with quite a few conditions though – check out our article we did covering this topic for the specifics!

If this speaks to you, you might want to consider getting a resale flat that has a recess area available for purchase. Another example would be your unit’s proximity to the nearest garbage chute. If you’re like me, and you absolutely hate any form of creepy-crawlies, we would never get a unit that’s anywhere close to the garbage chute.


Conclusion

The five factors we’ve mentioned above are unlikely to apply to everyone – a lot of these factors depend upon your own personal preferences and where your priorities lie when you’re choosing a flat. However, we sure we all want to have every possible factor taken into consideration before buying a house, arguably one of the most important decisions in our lives.

Here at Home Quarters, we won’t just tell you about numbers and facts, but we’ll also pay extremely close attention to every little single preference that you have, talk to you about any future plans, and take a multitude of factors and opinions into consideration before advising you on buying your dream HDB flat.


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Contact Us

If you have any questions or want to share any opinions with us regarding this article, simply leave your contact details or send us a quick email ! Alternatively, you can contact us via whatsapp message or call KC at +65 8809 2889! Or direct messages on our Facebook and Instagram pages. 

At Home Quarters, we’re all about quality, efficiency, and most importantly, taking into account what exactly our client wants. If you want to hear about how we do this, take a look at our series Closing Thoughts, where we sit down with our clients after we’ve successfully sold or bought a property on their behalf! 

That’s all for this article! Stay safe, and remember, call Home Quarters and start packing!

How to choose your perfect fit cheap condominiums?

Condominiums are usually seen as expensive and luxurious private properties that Singaporeans continuously aspire towards. The thing is, though, not all condominiums have to be expensive – in our YouTube video. We covered three affordable condominiums that all cost less than or around half a million dollars.

However, the key question is: are they really worth buying? The scope is a little wide with this question, so we’ve narrowed it down to the following:

Based on the following age groups, 20-35 years old, 35-55 years old, and 55 years old and above. Are cheap condominiums truly worth its value?


Before we begin the article, you might ask, why those three age groups specifically? That’s because we understand that individuals of different ages have different priorities.


A. Age 20-35 years old

More specifically, younger couples and individuals in the 20-35 years old age group are most likely to be looking to buy their first property, and are looking at condominiums either because they have failed to obtain a BTO flat, or because they are not willing to buy a resale HDB flat.

Most people in this age group are likely to be unable to afford more expensive condominiums. Though, due to the fact that their incomes are likely to be entry-level pay.

B. Age 35-55 years old

Meanwhile, middle-aged folks in the 35-55 years old age group might be looking to upgrade their current property to a newer, bigger one, perhaps with more amenities.

C. Age 55 years old and above

Lastly, those in the silver generation that are 55 years old and above could be looking to downgrade into a cozy retirement property after their children have moved out of their previous house.

With that being said, let’s dive into the three factors that we believe best answer the question. Should you buy a cheap condominium?


1. Size

The first factor we’ll be addressing, of course, is size.

A. Age 20-35 years old

First, let’s take a look at this factor from the perspective of younger couples and young graduates that may plan on having children in the future. Most cheap condominiums are on the smaller side, and thus may not be suitable for their future needs and plans.

Most 4-room HDB flats are about 95 sqm in size, compared to most cheap condominiums that are 45 sqm in size. The size of the condominiums may thus not be ideal in the future.

On the flip side, couples that have no intention of having children. Or perhaps singles in this age group that can afford such a price point, may find that cheap condominiums are ideal for their living situation.

Condominiums are able to offer great amenities and possibly more privacy than HDB flats, and have the potential to be a great investment property for first-time homeowners. If we disregard the smaller size of most cheaper condominiums.

Moreover, singles could also choose to buy such a unit, and continue staying at their family home while renting out this property for the first few years, before moving back in once the mortgage has been covered by rental income.

B. Age 35-55 years old

Secondly, for middle-aged folks, regarding size, there are two key problems that we should consider.

The first one, like above, is if there is enough space for children to live in. Those in this age group may typically already have children. They have to keep in mind that moving into a condominium may not necessarily always be an upgrade.

If size is the key factor that holds the most sway in their decision-making process. There are resale HDB flats out there that are actually bigger than condominiums, that may be cheaper in price as well.

The second problem would be the fact that as the parents of those in this age group grow older, they may need more care. If the situation arises where one’s elderly parents may need to move into the same home so that they can be taken care of more easily, the unit may then again be too small.

In both these cases, we see the importance of having a larger house when taking into consideration one’s future plans and outlook. For those in this age group, cheaper condominiums may not be the right fit, considering the factor of size.

C. Age 55 years old and above

Thirdly, for those older than 55 years old, the size of cheaper condominiums may just be the perfect fit for their needs. A home for elderly people that is smaller may actually be better, for a multitude of reasons. One reason would be that the elderly do not usually require much living space.

And another more practical reason would be that a smaller unit means less surface area to clean, which is something that may be a key consideration for the elderly.


2. Accessibility

The next factor we’ll discuss is location of the condominium, and its accessibility

Most cheap condominiums are located in the Outside Central Region (OCR) districts, and also in non-mature estates. Do check out our previous video about Singapore Region.

Singapore Region Map Photo:Property Guru

This means that the area around such condominiums are likely to be less developed, and may not have many shopping malls or schools in its vicinity.

For this factor, we’ll group the first and second age groups together, to address the main problem: proximity to schools.

I. Schools

The location of the condominium plays a huge role in determining where children end up schooling. For those in the first age group, who may or may not have children in the future, they should keep this in mind if they have a specific school that they want their children to attend in the future.

Gan Eng Seng Primary School Photo: CIAP Architects

This applies for those in the second group as well. Upgrading to a cheaper condominium comes with its benefits. But this may mean that children would have to transfer schools, or their next level of education will be spent in a school in an unfamiliar neighborhood.

Moreover, for working adults who do not own a car, this accessibility might be a key factor to consider when deciding to buy a cheaper condominium, especially those with children.

II. Transportation Costs

What many forget to account for is transportation costs, which may actually offset the money saved from buying a cheaper condominium. Taking public transportation across long distances or hailing taxis to work five days a week eats into your accounts more than you think.

For the last age group, the location and accessibility of the property may not actually be a huge problem. Why do we say this?

Well, if you’re looking for a private property as your retirement home, chances are you’re already retired. This means that there’s not much of a reason for the elderly to leave their homes, other than maybe to take a walk around the neighborhood, or to venture out to the nearest wet market to pick up groceries for the week.

While the nearest shopping malls or markets may not be in close proximity to the condominium. One trip to the grocery store a week isn’t really much of an inconvenience.

This is even more so if you own a car. Perhaps one thing to consider is if there are hawker centres or coffee shops nearby. Because not every elderly is able or willing to cook every day.

All in all, we think that this factor may hinder the first two age groups the most, but doesn’t really apply to the last age group. 


3. Alternatives

Lastly, the last factor we definitely have to consider is alternatives

A. Age 20-35 years old

For the younger folks, a perfectly acceptable alternative would be a BTO flat, or perhaps a resale HDB flat.

There are definitely a lot of downsides and unpredictable factors when we talk about owning a cheaper condominium. In the first place, BTO flats are likely to be both more affordable and larger than even the most affordable condominium unit.

Even if you’ve been unsuccessful in obtaining a BTO flat for awhile, we’d still recommend a resale HDB flat instead of a cheaper condominium. In fact, just as we’ve covered in this article, we actually believe that resale HDB flats can be a better option as compared to a BTO flat.


B. Age 35-55 years old

For those in the 35-55 years old age range, your top priority right now may be simply to upgrade to a nicer property. However, we should keep in mind that condominiums have lost the prestige that used to be attached to it, as owning a condominium has become more and more common.

Large 4 Room HDB Flat

Now, a true ‘upgrade’ would come in the form of practicality. A larger HDB flat in a mature estate would be a good example. Just as we’ve covered in our article, we believe that it is possible for a larger resale HDB flat to be a better long-term investment than a cheaper condominium.


C. Age 55 years old and above

For those in the silver generation, deciding what property is going to be your retirement home is a decision that should not be taken lightly.

As we’ve covered in this article about where you should stay for your retirement home! There are a multitude of options available for you to choose from: it simply depends on what your priorities are.

For example, if you’re fine with a property that’s less luxurious and prioritise living in a house close to your children and grandchildren, a 2-room flexi resale HDB flat may be the way to go. 


Contact Us

Do share your opinions on this article with us by dropping us an email ! Contacting us through our Facebook and Instagram pages. What age group do you fall under? Do you think you will still want to buy a cheaper condominium after reading this article? 

If you’re still unsure of what property best suits your needs, no matter your age group. Do feel free whatsapp message or call KC at +65 8809 2889! At Home Quarters, we take all your priorities and circumstances into account before we advise you on how to sell your property, or what property we believe you should buy.

We’d be happy to provide you with various analyses, advice, and any sort of assistance you may require, whether you’re a buyer or a seller. Leave your contact details and any queries down below, and we’ll contact you ASAP.

That’s it for this article! Stay safe everybody, and remember, call Home Quarters and start packing!

Push for greater inclusivity may drive down resale potential of HDB flats

With a firm emphasis on equal opportunity and inclusiveness, National Development Minister Desmond Lee discussed the possibility of regulating the reselling of future Build-To-Order (BTO) flats located in prime locations.

Push for greater inclusivity may drive down resale potential of HDB flats_Home Quarters SG_KC Ng Keng CHong

National Development Minister Desmond Lee PHOTO: MCI

This announcement should not come as a surprise. In March this year, the previous Minister of National Development, Mr Lawrence Wong, had already highlighted in Parliament the need to curb “social stratification” that may arise due to the relatively high prices of resale Housing Development Board (HDB) flats in mature estates and prime locations, as shown below. 

Push for greater inclusivity may drive down resale potential of HDB flats_Home Quarters SG_KC Ng Keng CHong

Data taken from hdb.gov.sg

This may come as a surprise. Didn’t we just see in the news that HDB home prices have been dropping in the past 2 years? It seems that with the startling number of million-dollar and above resale HDB flats sold last year and in the first 10 months of 2020. The government has decided that it needs to firmly clamp down on the number of expensive resale HDB flats in prime locations being sold.


Before we can go into the exact details that Minister Lee highlighted, we might ask,

What’s the problem with these Resale HDB flats being sold at high prices?

Push for greater inclusivity may drive down resale potential of HDB flats_Home Quarters SG_KC Ng Keng CHong

Average Price per Sqft of resale HDB flats in CCR vs OCR regions in the past 15 years

It’s an undeniable fact that houses located within the Core Central Region (CCR) are relatively more expensive to their Rest of Central Region (RCR) and Outside Central Region (OCR) counterparts, for reasons such as surrounding amenities and their convenient locations.

[psst: still not sure what exactly the CCR, RCR and OCR are? Check out our super short video that succinctly explains these regions here.]

Why, then, is the government trying to interfere with the free market?


This is because the original goal of HDB flats being accessible to all members of the public at affordable prices has been skewed.

Minister Lee stressed that, as the purpose of public housing was to allow Singaporeans of all backgrounds to live in their desired regions, the “principle of fairness” was of utmost importance.

Push for greater inclusivity may drive down resale potential of HDB flats_Home Quarters SG_KC Ng Keng CHong

Data taken from squarefoot.com.sg

He explained this further by establishing that while BTOs in prime locations are sold to homeowners at a highly subsidised price through ballots to ensure that flats in all locations are made affordable to all hopeful applicants, in the future, the price of such flats undergo steep appreciation, allowing past homeowners to earn large profits with low initial cost.

From the table, the hefty profits are earned by all sellers. BTOs in prime locations and mature estates reap far greater profits than their non-mature estate counterparts.

After these flats undergo a few rounds of buying and reselling, it is highly likely that “only wealthy people can afford this type of housing”, limiting the diversity of households living in prime locations.

Thus, he has announced that the Ministry of National Development (MND) will be implementing cooling measures in the near future to prevent prices from soaring.


So what measures are being implemented, exactly?

Adopting a two-pronged approach, Mr Lee stated that the MND will continue to purposefully include two-room flats for elderly occupants and rental flats for lower-income households. Even in future estates located in the CCR, so as to boost inclusivity within estates. Furthermore, the MND may be rolling out new policies to curb the growing prices of resale HDB flats in the near future.

In a Facebook post made on 11 December, he notes that as the government has been taking feedback from the general public. The MND has received various suggestions to introduce “some restrictions on the resale conditions for future prime area projects”. However, he does not specify the exact measures that will be implemented.


Prediction

So, can we predict some of the measures that will be rolled out?

Let’s go through four measures that many speculate may be implemented.

  • Increasing Minimum Occupation Period (MOP): The government may choose to extend the current compulsory 5-year MOP. Forcing homeowners to stay in their BTO for another few years before they can sell their flat. However, many speculate that this would simply delay the inevitable sale of flats at windfall prices for a few years.  Moreover, this would inconvenience those who genuinely need to sell their flat after the usual stipulated MOP period.
  • Shortened lease: The government may choose to shorten the lease of HDB flats in prime locations. While interested parties may still end up buying these resale flats. They might do so at a lower price as they believe the value of the house has dropped. However, this may put those who bought the flat for the sake of staying in it for as long as possible at a disadvantage.
  • Resale to HDB: Some have speculated that HDB may enforce a rule stating that any flat in the CCR can only be sold back to HDB, who buys it at a set price based on the years left on its lease. HDB will then be the sole seller of any resale HDB flats in the CCR, at more affordable prices. While this may seem practical on paper, such a policy may cause dissent amongst homeowners as they are forced to sell their own flats at a price that they cannot control.
  • Limiting Final Price: Some have suggested that the government put a cap on the selling prices of flats in prime locations. However, this measure may simply backfire as it simply invites more buyers to buy the house at the maximum price. In other words, the price ceiling may simply turn into a fixed price floor.

Preparation

Taking into account these potential measures, How should we prepare ourselves for any policy changes?

While nothing will be confirmed until the MND officially implements any policies. We should begin viewing investment properties with increased prudence, and prepare ourselves for drops in the prices of resale HDB flats. Especially those in the CCR region, or larger flats in mature estates.

Most importantly, as buyers, we will have to consider our options with even more cautiousness. As we may see the future prospects of potential flats be severely limited in the near future.


Contact Us

In the meantime, as usual, life goes on. If you’re looking to sell your house and want some professional input, or find that your property is taking a little too long to sell, we’d be happy to help you out! Similarly, if you have any questions or opinions regarding this article, we’d love to hear them as well.

Just whatsapp message or call KC from Home Quarters and begin finding your new home today: +65 8809 2889! Drop us an email at homequarterssg@gmail.com! Shoot us a message on our Facebook or Instagram pages, and we’ll be glad to lend a helping hand. That’s it for this article! Stay safe everybody, and remember, call Home Quarters and start packing!

Selling Like Hot Cakes Now: Avenue South Residence Condominium

Imagine staying in one of the tallest residential buildings in Singapore. That will be the Avenue South Residence, a 99-year leasehold condominium located along Silat Avenue.

Consisting of 1,074 units across two 56-storeys high residential towers and low-rise buildings, it has a total land area of 245,974.6 square feet with a range of unit types from 1-Bedroom to 4-Bedrooms.

Slated for completion by 2023, residents will get to soak up amazing views of Keppel Terminal and Sentosa from the balcony on the top floors.


Avenue South Residence Condominium Fact Sheet

Property Type: Condominium

Tenure: 99 years

Address: 11 Silat Avenue Singapore 160149

TOP: 2023

Gross Floor Area: 84,550.69 sqm / 910,096 sqft

Blocks: 7

Units: 1,074

Floors: 56

Developer: UOL Group Ltd., Kheng Leong Co and UIC Ltd


The companies behind this brilliant creation 

Avenue South Residence is jointly developed by UOL Group Ltd, Kheng Leong Co and UIC Ltd.

UOL is one of Singapore’s top-performing listed companies with a rich portfolio in properties and hotels, including The Tre Ver and Spottiswoode Residences. Their developments are well-planned and of good quality.

Thus, we can be confident of project completion and the excellent standards of the condominium amenities and facilities.


What can you expect from living here

Avenue South Residence is located on the fringe of the CBD, in the Bukit Merah region, currently 1.2 km away from Outram Park MRT station.

However, a minute away from the residency is a bus-stop where residents could get to Outram Park or Harbourfront MRT station in just 5 minutes.

Also, with the Cantonment MRT station (0.7 km away) and Keppel MRT station (0.8 km away) along the Circle Line set to commence in 2025, commuting time for residents would be reduced.

At just a 10-minute drive away from the CBD and Orchard Road, Avenue South Residence is a perfect choice for those working in the CBD. Those who prefer to live in close proximity to their places of employment.

Though, with most people working from home these days due to the COVID-19 situation, maybe this will not be a key push factor — but when you buy a property, you are making a long term investment, and we are all hoping that life would go back to normal in the future!

Singapore General Hospital Source: SGH

With the Singapore General Hospital and the Tanjong Pagar Neighbourhood Police Station situated close to the condominium, residents do not have to worry about security and access to medical help.

Within walking distance from Avenue South Residence are various food and grocery options such as the Blk 148 Coffeeshop, a 24-hour grocery store and Silat Avenue FairPrice supermarket, so residents definitely can settle into life quickly.

The location of Avenue South Residence also offers much convenience for families with children of all ages. There are a number of PCF preschools within a 5-minute drive as well as primary and secondary schools such as CHIJ St. Theresa, CHIJ Kellock and Radin Mas Primary School at just a 10-minute drive away.

For future tertiary students, Singapore Polytechnic, National University of Singapore (NUS) and Management Development Institute of Singapore (MDIS) are relatively nearby.


Maintaining an active life with Avenue South

Apart from the usual facilities and amenities in condominiums such as function rooms, study rooms and tennis courts, Avenue South Residence would have a childcare centre and 8 commercial shops – making your life easy and convenient without even leaving your home complex.

Some interesting facilities are the rock climbing walls and mini golf area. For the avid swimmer, there is a 50 m lap pool, as well as a beautiful infinity pool on the top deck.


The biggest spotlight is also on the upcoming Great Southern Waterfront. The Urban Redevelopment Authority (URA) have plans to develop the area.

As a new major gateway for urban living along Singapore’s southern coast, this will include the Sentosa, Marina Bay and Labrador Park area.

Residents of Avenue South Residence can look forward to increased access to different parks and nature trails along the waterfront.


What do we think

Avenue South Residence has good investment prospects given its location and nearby amenities. Residents who enjoy nature and an active lifestyle would definitely have no lack of weekend activities once the Great Southern Waterfront is fully developed.

Its connectivity to multiple MRT stations and CBD makes it one of the more convenient residential developments in the recent years.


Contact Us

Do visit our others social media platform, YouTube, Facebook and Instagram pages for more! If you have any question, do sending us an email, or contact us right now!

That’s it for this article! Stay safe everybody, and remember, call Home Quarters and start packing!

Best Buys on Taobao to Elevate Your New Home

Now that you have a new place you can call your own – how do you elevate your house to become a home? You do not have to break the bank to fill your cozy little space! Just like many of your peers who have turned to Taobao, you may have scour the website to find yourself overwhelmed by the amount of choices there.

Taobao has made modern aesthetic decor so much easier, but first, you have to choose. Here, we have curated some of the best buys on Taobao that will bring style and everyday practicality to your daily routine.


Best Buys on Taobao for the Kitchen

#1 Kitchen Towel Dispenser

For those that enjoy cooking – whether is it a daily activity or a weekend hobby, you will find that having a good kitchen towel dispenser is absolutely essential! This nifty, handy dispenser can be suspended from a ceiling or a wall. This allows you to place it at a location where it is the most convenient for you.
Purchase link


#2 Fridge Side Carrier

For a welcoming and homey touch, you can hang this pretty fridge side carrier. It also provides extra storage space beside the fridge – perhaps to store some stationery or kitchen supplies. Not only that, it makes for easy cleaning – simply pop the entire carrier into the washing machine instead of having to wipe the fridge down.

Purchase link


Best Buys on Taobao for the Service Yard

#3 Hanger and Pegs Holder

Laundry chores are part of everyday life. As much as we want to imagine a Konmari-lifestyle and hide these unsightly things in the storage all the time, it may not be practical. This chic hanger and pegs holder is a must-have for minimalist home decor. This aluminium holder is in matte black, and does not require any drilling to secure it to the wall.

Purchase link


#4 Classy Umbrella Holder

For tropical dwellers in Singapore, it would be essential to have an umbrella holder for rainy days. What’s better is to get an elegant one that will greet you everytime you come home!

Purchase link


Best Buys on Taobao for Lighting

#5 Denmark Centrepiece Lamp

If you’re looking for a bit more oomph in your living room, consider investing more in a state of the art lighting centrepiece. Why not, since you would be looking at it everyday, and guests would certainly notice it and be impressed! These chic lamps from Denmark are eye-catching and not too loud. The shop that sells these lamps also have a range of styles to match your home decor. 
Purchase link


Best Buys on Taobao for Storage

#6 Stylish Storage Basket

Chances are, you would need storage baskets for laundry, extra magazines, or even pet supplies. These baskets help you hide the clutter – so they had better look good while doing it. These baskets are stylish and fit into the Nordic theme of most homes nowadays. 

Purchase link


Best Buys on Taobao for Drawers & Shelving

#7 Wooden Book Shelf

Shelves may appear to be mundane furniture, but any interior designer would tell you to never go easy on details. These shelves would nicely display your books and favourite souvenirs from memorable trips. The shape and cutting of this shelf is also not your run of the mill sort from Ikea, adding sophistication to any room you place this in. 

Purchase link


#8 Bedside Table

When we are sleepy from our slumber and trying to grab our smartphone or spectacles, how many times would these items fall to the ground? This bedside table is one with a smart design – notice the little catch at the edge? It helps to prevent this clumsy situation (and broken phone screens!) 

Purchase link


Conclusion

What other fantastic home items did you spot on the wonderful shopaholic haven of Taobao? There are so many new and ingenious items featured everyday – so let’s share the knowledge with others by commenting below! Let’s build the longest list of the best buys on Taobao for home decor and practical needs! 


Contact us

If you are looking to conduct any home buying, selling or renting, be sure to reach out to KC from Home Quarters on YouTube, Facebook and Instagram or email us, here at: homequarterssg@gmail.com!

That’s it for this article! Stay safe everybody, and remember, call Home Quarters and start packing!

Watch out for the up-and-coming Penrose Condominium!

Located right smack in the green oasis heartlands of Aljunied, Penrose Condominium is definitely one of the most-anticipated developments in 2020 to look out for. Located at the CBD city fringe, this 99-year leasehold condominium is slated for completion by 2025, with a total of about 17 blocks consisting of 560 premium residential units. There are many reasons why Penrose Condominium is highly sought after, which we will detail below for you. 

This 99-year leasehold condominium is slated for completion by 2025.


Penrose Condominium Fact Sheet

Property Type: Condominium

Tenure: 99 years

Address: 30 Sims Drive Singapore 387386

Built: 2025

Gross Floor Area: 16,225.2 sqm / 174,646.6 sqft

Blocks: 6

Units: 566

Floors: 17 or 18

Developer: Hong Leong Group & City Developments Limited


Anticipate the impeccable quality the developers can bring to Penrose Condominium


Come home to a fantastical forest-themed Penrose Condominium

What caught our attention was its forest themed inspired architecture and decor that will revitalize your soul and body whenever you come home to Penrose.

As a joint venture development by Hong Leong Group and City Developments Limited, excitement for this luxury project is definitely reasonable given their stellar past track record.

Both developers have a long-established reputation in the real estate industry. Hong Leong Group has started out since the 1960s and has since become the market leader, launching projects including The St. Regis Hotel and Residences, W Singapore Sentosa Cove and Residences, Quayside Isle and One Shenton.

Hong Leong Group has also bought a majority stake in City Developments Limited, which has since become a listed international property and hotel conglomerate. With that, you can already imagine the impeccable quality that the developers will be bringing to Penrose.

Seamless flow of the 50-meter lap pool and these green spaces will allow you to be immersed in the tranquility of nature.


Penrose Condominium’s Floor Plan

Looking at the floor plan of Penrose, the apartment blocks include a mix of 1-to-4 bedroom, penthouse and even dual-key units.

In a previous video, we had an in-depth analysis of the top dual-key condominium developments in Singapore, but during then, information of Penrose was not released yet.

The 2-bedroom units have a popular “dumbbell-shaped” layout with the rooms at each side of the living area. 

 

The forest-inspired estate includes 3 different luxurious woodland pavilions, of which includes a keen attention to detail and vast nature is realized from the moment of entry.

Seamless flow of the 50-meter lap pool and these green spaces will allow you to be immersed in the tranquility of nature.

Residents can also enjoy hosting dinner parties and alfresco dining amidst the greenery, with BBQ pits available as a bonding activity for families and friends.

Penrose also has a generally much larger unit size as compared to the neighbouring Sims Urban Oasis because they are being hit by the new URA policy that restricts developers from building small shoebox units right outside of the city centre.


Location is top-notch at Penrose

Aljunied MRT is the closest MRT and is located just a 5 minutes walk away from the doorstep of Penrose. On top of that, with its proximity to key expressways PIE, KJE and public transportation networks, it’s very convenient for those who drive.

Aljunied is also fairly close to the CBD, only a 10 minutes drive away from City Hall. Home owners can be rest assured that location is prime, here at Penrose. 

For your shopping and daily groceries needs, a vibrant neighborhood awaits around!

Watch out for the up-and-coming Penrose Condominium!_Home Quarters SG_KC Ng Keng Chong

Kinex Shopping Mall Source: The Smart Local

Nearby, residents can browse the Kinex Shopping Mall (previously One KM), Paya Lebar Square (where you can find Giant Hypermart), and Paya Lebar Quarter. Indulge in the many of Singaporeans’ favourite hawker options in Sims Vista Market and Old Airport Road Hawker Centre.

The location that Penrose sits at, also offers much convenience for families with school-going children of all ages. This includes many schools in the vicinity, including:

Geylang Methodist Primary School

  • Geylang Methodist Primary School
  • Geylang Methodist Secondary School
  • Macpherson Primary School
  • Canossa Convent Primary School
  • Kong Hwa School
  • Bendemeer Primary School
  • Cedar Primary School
  • Nexus International School
  • James Cook University

There is an integrated childcare centre in the development right at the first floor! You will also enjoy sheltered walkways from a bus stop, 1-1 parking lot allocation and a grand entrance drop off.
We will expect that Penrose condominium will  be popular among investors for its recession resilience qualities. Nearby, Parc Esta at Eunos MRT & Park Place Residences at PLQ at Paya Lebar MRT have been super popular since their launch.

The prices for Park Place Residences at PLQ integrated developments are even hitting $2,281 per square foot for a studio unit!


A hot favourite among property investors

Penrose Condominium is very popular among investors for its recession resilience qualities. Other than being backed by reputable developers, the surrounding neighbourhoods have very promising future growth in URA’s Master Plan.

As we all know, location is king when it comes to property, and with the Aljunied region so close to the central business district (CBD) the demand for both residents and tenants will be aplenty and moreover, the Singapore CBD is not going to shift anywhere else so soon.

Kallang Riverside Park will even include beachside lagoons and recreational water sports fun such as boating or canoeing.

Another transformation is happening at the other end of Aljunied, with Kallang Riverside poised to become a waterfront lifestyle destination.

This 64-hectare entertainment precinct will be presenting thousands of new homes, hotel rooms and around 400,000 sqm of office, retail and entertainment facilities.

Kallang Riverside Park will even include beachside lagoons and recreational water sports fun such as boating or canoeing.

Watch out for the up-and-coming Penrose Condominium!_Home Quarters SG_KC Ng Keng Chong

In the region, you get a lot of amazing food options in the Geylang neighbourhood including the tasty frog porridge, Wen Dou Sek Dim sum, Tan Ser Seng Herbs Soup Restaurant, and more. 


Conclusion

We will certainly be keeping an eye on the development of Penrose Condominium and also its demand! If you are interested in knowing more about this condominium, reach out to KC from Home Quarters.

At Home Quarters, we have helped many clients turned friends to find their dream home by guiding them through the journey of finding their ideal unit.


Contact us

You may have many concerns – it is perfectly normal – just contact Home Quarters by going over to www.homequarters.com.sg or send us an email at homequarterssg@gmail.com or visit our social media on YouTube, Facebook and Instagram.

You may be looking at resale condominiums instead of brand new condominiums, for that, read our previous article that compares between new launch or resale condominium flats. Let us know what you need, and we can start right away to address your needs.

That’s it for this article! Stay safe everybody, and remember, call Home Quarters and start packing!

5 Reasons People Love Parc Clematis Condominium!

When you think about the “Clementi” district, there is no doubt it is one of the most popular locations in Singapore. When word had it that Parc Clematis is about to launch, demand was buzzing non-stop! It is not hard to see why.

Parc Clematis is a hot favourite among buyers in 2020. It is not hard to see why.

Parc Clematis, a picture of sophistication and modern luxe living

Developed by SingHaiyi, Parc Clematis (formerly Park West condominium) is situated right at the heart of a private residential estate of Jalan Lempeng, just a stone’s throw away from Clementi MRT station.

With a lack of private condominium property located close to Clementi MRT station, when Parc Clematis was launched, many people who are staying in the West area and intended to upgrade would consider Parc Clematis as their top choice. 


Parc Clematis Fact Sheet

Property Type: Condominium
Tenure: 99 years
Address: 2 Jalan Lempeng, Singapore 128793
Built: 2023
Gross Floor Area: 11,484.8 sqm, 123,622.0 sqft
Blocks: 28
Units: 1,467
Floors: 24
Carpark Lots: 1,477
Developer: Sing Haiyi


Here are 5 reasons why Parc Clematis is so popular with buyers that got them buying even during this COVID-19 season.

1. Exceptional planning of compound units in Parc Clematis

Parc Clematis is separated into 4 different classes of units that cater to a wider range of buyers each fulfilling a different lifestyle preference. This thoughtful planning would mean that unlike a cookie-cutter residential compound, Parc Clematis has more customization within each unit that would better fit your lifestyle. There is a range of price differentiation across these classes.

Parc Clematis - Overall Facilities Plan and Overview.

Parc Clematis – Overall Facilities Plan and Overview

Parc Clematis - Overall Facilities Plan and Overview (Legend)

Parc Clematis – Overall Facilities Plan and Overview (Legend)


Signature

Parc Clematis Signature units

Parc Clematis Signature units

Exuding a premium resort aura, the Signature unit is equipped with smart home living facilities, including an IOT gateway, smart plugs, air-conditioning control, and digital lockset at your door. Perfect for the professional that needs a comfortable and intelligent living space to suit any busy lifestyle.


Contemporary

Parc Clematis Contemporary units

Parc Clematis Contemporary units

This avant-garde resort blocks would be the dream of trendy and fun owners, providing a fantastic array of lifestyle facilities. Life stays in style here, with a cool monochromatic grey outlook that emanates a timeless architectural look.


Elegance

Parc Clematis Elegance units

Parc Clematis Elegance units

With a classy earth-toned touch of Asian sophistication in the architectural design, Elegance units are closer to the leisure kids’ pool, dining pavilion and other recreational facilities, suitable for both the young and young at heart. 


Masterpiece

Parc Clematis is a hot favourite among buyers in 2020. It is not hard to see why.

Parc Clematis Masterpiece units

Exclusivity is the name of the game for luxury lovers looking at a Masterpiece bungalow or terrace unit, away from the hustle and bustle of the rest of the compound. Owners of a Masterpiece unit enjoy private lush landscaped gardens, providing a resort style ambience.

Classy living and dining area that will impress any guest that walk through those doors.

Classy living and dining area that will impress any guest that walk through those doors.

Parc Clematis also has the popular dual key unit options across 2-bedroom and 3-bedrooms units. Dual key condo units consist of two apartments alongside one another, and are legally considered as  one property.

The Master Bedroom exuding luxury hotel vibes.

The Master Bedroom exuding luxury hotel vibes.

Buying a dual key unit would allow the buyers to bypass the ABSD while buying “two property sub-units”. Naturally as such, one of the top choices that Singaporeans look at is a dual key unit.

Smart fittings throughout the units that would make you feel like you transported into the future.

Smart fittings throughout the units that would make you feel like you transported into the future.


2. Unrivalled convenience of residing in Clementi

Parc Clematis is a hot favourite among buyers in 2020. It is not hard to see why.

Clementi Mall provides nearly every daily necessity you may ever need.

A huge plus of Parc Clematis is its proximity to Clementi MRT station and Clementi Central’s malls and retail outlets, including: Clementi Mall, CityVibe, Courts superstore, and Clementi 321 mall. From Parc Clematis, it is only 4-minutes by car to these malls, where you can buy groceries at NTUC Fairprice, watch a movie, manage your banking needs and more. There is also a huge offering of neighbourhood hawker centres, coffee shops and markets with many locals’ favourite stalls that make for a vibrant area.

Parc Clematis is a hot favourite among buyers in 2020. It is not hard to see why.

Clementi is at a sweet spot on the Singapore SMRT Transport map.

Just one MRT stop away, you will find yourself at Jurong East with other malls – Westgate, JEM, JCube and IMM where all major retail brands available in Singapore can be found.


3. Parc Clematis is also perfect for families with young children

Nan Hua Primary School is located on the same street as Parc Clematis, 4 minutes away on foot.

Nan Hua Primary School is located on the same street as Parc Clematis, 4 minutes away on foot.

The Clementi area is one of the prime locations to be in for families with school-going children across all ages. Parc Clematis is located near prestigious educational institutes across a range of primary, secondary to tertiary education. Families can choose this location for their children’s entire education journey. Here is the list of schools nearby within 2km radius of Parc Clematis:

Kindergarten: PAP Community Foundation (PCF) Bukit Timah 319 Kindergarten

Primary Schools: Nan Hua Primary School, Clementi Primary School, Qifa Primary School, Peitong Primary School

Secondary Schools: Clementi Town Secondary School, Tanglin Secondary School

JC/ Tertiary: Anglo-Chinese Junior College, National University of Singapore, Singapore Polytechnic, Ngee Ann Polytechnic


4. Attractive to tenants, great for investors

Classy luxury living that would be perfect for any discerning buyer.

Classy luxury living that would be perfect for any discerning buyer.

Parc Clematis’ location appeals especially to a vast population of potential tenants that could afford luxury living. This includes expats working in the business park at the One-North area, professors working in the tertiary institutes nearby, and also expats working in the CBD who want to be living in a more residential area.

It would also attract parents who are looking for a home near the prestigious Nan Hua Primary School. As compared to the other condominium compounds nearby, Parc Clematis is relatively larger with more well-equipped and newer facilities, making it the preferred choice of tenants.


5. Top choice for home owners who need both practicality and luxury

Besides investors, Parc Clematis will appeal to owner-occupiers who appreciate convenience and practicality alongside the luxuries that the condo has to offer within! Across the sprawling estate of 633,644 square feet, the gorgeous beach-like pool takes centre-stage that is unlike any other condominium pool.

Besides that, with three 50-metre lap pools, hot tubs, two jacuzzi alcoves and a hydrotherapy pool, owners will be spoilt for choice on where to relax around the compound.

There are also many pet-friendly gorgeous dining and relaxing pavilions and BBQ pits to lounge at or to hang out with friends and furry mates.

For younger buyers that would like to stay nearer to their parents, this is also likely one of the last launches in this popular mature estate. The Jalan Lempeng luxury estate is also surrounded by two other condominiums, Regent Park and The Trilinq, and the Faber Hills landed enclave.

You may be looking at resale condominiums instead of brand new condominiums, for that, read our previous post that compares between new launch or resale condominium flats.


Contact Us

At Home Quarters, we have helped many friends to find their dream home by guiding them through the journey of finding their ideal unit. You may have many concerns – it is perfectly normal – just contact Home Quarters by going over to www.homequarters.com.sg or send us an email at homequarterssg@gmail.com or direct message us on Facebook or Instagram. Let us know and we can start right away to address your needs.

Do visit our others social media platform, YouTube, Facebook and Instagram pages for more!

That’s it for this article! Stay safe everybody, and remember, call Home Quarters and start packing!

Trying forever to BTO with your partner? Seal the deal with Resale Flats!

You have found someone to BTO with, but found it difficult to secure your dream home? You are definitely not alone. You may start to think about choosing a resale flat instead.

Common unspoken dilemmas: BTO applications sometimes take way too long.


In some situations, applying for BTO with your partner may not be the most efficient.

After all, in order to successfully BTO, the entire process takes time, a lot of research and one element that is out of your control: luck. BTO refers to the built-to-order flats which the government launches every few months for Singaporeans to purchase. There is also a list of eligibility criteria to fulfill in order to buy BTO flats. But it is often preferred because it is relatively cheaper, and buyers believe they make a good investment option.

Trying forever to BTO with your partner? Seal the deal with Resale Flats!_Home Quarters SG_KC Ng Keng Chong

However, BTO flats are often oversubscribed, especially the ones located in popular estates such as Kallang, Bidadari and Clementi. There are many cases in which couples make more than 3 BTO attempts and still are not able to obtain a BTO unit. On top of this difficulty, couples would also need to wait about 3-4 years before they can move in because the BTO flats need time to complete construction and renovation.

We have met many of our friends and clients who are in this unfavourable situation. Due to their personal timelines and reasons, they may not be able to wait or attempt for BTO flats repeatedly. Staying with their parents or in-laws could be an option, but not always. If that is the case, we would recommend that you start your first home with a resale flat. What are the pros and cons of getting a resale flat? Let’s break it down for you:


Choosing Your Preferred Location – something you would do even when you are choosing your BTO with your partner.

The number one advantage of getting a resale flat is to pick your preferred location. Getting a unit in a convenient location would help you cut down on hours on your daily commute to work or to town. It is also a timeless advantage when it comes to selling your unit in future.

After narrowing down the estates that you and your partner like, you can start looking for specific units for house-viewing. For couples who want to stay close to their parents, you do not have to wait for a BTO launch to occur in your neighbourhood. Furthermore, the government is no longer rolling out BTO launches in mature estates.

Buying a resale flat will give you greater control over which unit you would stay in eventually.

Check out the transportation network, the traffic noise in an existing thriving neighbourhood.


Greater Control Over Your Preferred Unit

Resale flats provide you an accurate sensing of what living in the unit would actually be like. You could visit the place and do a complete house viewing, know the neighbours, take note of traffic noise, transportation options, and surrounding facilities. There is also 100% certainty in the layout and space allocation for renovation and living space.

As compared, for BTO flats, you will neither know who your neighbours will be, nor will you know the final look of your flat. These are key considerations of living in a home which you will rely on your luck for. Facilities and traffic conditions may change over the course of the construction of the BTO flats as well, during which you would not be able to predict completely.

For resale flats, quick transactions can allow you to move in within 2 months but for BTO flats, you would have to wait for about 3 – 4 years. If you prefer to have control over your home purchase, resale flats would be a better choice for you.


Flat Features & Flat Size

Resale flats tend to be bigger than the newer BTO flats when we are doing a point-to-point comparison. 

For example, a 18-years old 5-room resale flat in Blk 596D Ang Mo Kio St 52 S(564596) of 110sqf, as compared to a 41-years old 5-room BTO flat in Blk 430 Ang Mo Kio Ave 3 S(560430) just a street away that is 119 sqf. Size is a necessary concern for couples who intend to raise children in a spacious environment. In addition, if they have parents, domestic helpers, or pets that may share the space with them, this would be an important point of consideration.

New residents of BTO flats may realize key differences between their family home and BTO flats. Namely, certain features such as balconies and in-house rubbish chutes are no longer made available. These are still present in some older resale flats, and if these are critical to you, resale flats could offer this benefit.


Costs and Grants

HDB Resale Grant Source: 99.co

There are many grants afforded to first-time buyers of BTO flats or resale flats.


CPF Housing Grants

Upon successful flat booking, CPF Housing Grants are fully credited into the applicant’s CPF Ordinary Account. This would offset the purchase price of the flat, thus, lowering the home loan amount required. The key grant that you can look at is the Enhanced CPF Housing Grant (EHG). These are the requirements:

Income Ceiling: Your average gross monthly household income for the 12 months before your flat application must not exceed $9,000.

Previous Housing Subsidies: You and all other co-applicants and essential occupiers are all first-timers

Employment: You and/ or your spouse/ fiancé(e) must: have worked continuously for 12 months prior, to the flat application, and would still be working at the time you submitted the flat application.

Remaining lease of flat: 20 years or more Flat must have sufficient lease to cover the youngest buyer and spouse/ fiancé(e) to the age of 95 to qualify for the full EHG. Otherwise, the EHG will be pro-rated.

Other property ownership: You and the other flat applicants must not own any of the following properties whether locally or overseas, or have disposed of any such properties in the 30 months before your new flat application: Private residential property (including privatised HUDC flats and ECs), House, Building, or Land

Grant amount: $5,000 – 80,000, depending on household income. (See here for more information)


For resale flats, there are two other grants available: Family Grant and Proximity Housing Grant.

Family Grant
Depending if you and your spouse are Singaporean citizens (or not), are buying a 2-room,

For 3-room, 4-room or 5-room apartment, you could receive between $30,000 – $50,000 of the Family Grant. (See here for more information)

Proximity Housing Grant
For those who are living with, or close to their parents or parents-in-law (within 4km), you could receive between $10,000 – $30,000 of Proximity Housing Grant. (See here for more information)

Whether you choose to BTO or to buy a resale unit depends on your lifestyle preferences and circumstances.

Future Property Plans

Just like buyers of BTO flats, buyers of resale flat have to fulfill a minimum occupancy period (MOP) requirement of 5 years. If you do intend to buy a BTO flat in future, in order to be considered a “first-time buyer”, do take note of the requirements as follow:

  • Not the owner of a flat bought from HDB, or an EC/ DBSS flat bought from a developer
  • Not sold a flat bought from HDB, or an EC/ DBSS flat bought from a developer
  • Not received any CPF Housing Grant for the purchase of an HDB resale flat
  • Not taken any form of housing subsidy

As such, you may need to consider not to apply for the CPF Housing Grant when you buy your resale flat in order to increase your chances of applying for a BTO flat in future. 


Conclusion

We understand that there are a lot of concerns that you may have especially if you did not manage to get your BTO flat of your choice time and again. It may seem like the traditional route to apply for a BTO flat before you can start your family.

However, you may be surprised to know that many other Singaporeans willingly choose to buy resale flats because they want to choose a unit with great location and features, not because they are pressured to choose resale flats as a ‘worse alternative’! 

You may be looking at resale condominiums instead of resale HDB flats, for that, read our previous post that compares between new launch or resale condominium flats.


Contact Us

At Home Quarters, we have helped many friends to find their dream home by guiding them through the journey of finding their ideal unit. You may have many concerns – it is perfectly normal – just contact Home Quarters by going over to homequarters.com.sg or send us an email at homequarterssg@gmail.com or direct message us on Facebook or Instagram. Let us know and we can start right away to address your needs.

That’s it for this article! Stay safe everybody, and remember, call Home Quarters and start packing!