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Funding homes for life is the aim of new CPF rules

Click on Funding homes for life is the aim of new CPF rules
for the source.
Author: Ravi Philemon

The new CPF usage rules which was touted as being able to provide more flexibility for Singaporeans to funding homes for life will not affect the majority of home buyers, said a report by List Sotheby’s International Realty (List SIR). It said home buyers will not be affected as they are already purchasing a property which lasts them to the age of 95.

The Government said on May 9 that the new CPF usage rules will now focus on whether the remaining lease of the home can cover the youngest buyer until at least the age of 95.

Under the new CPF usage rules, the total amount of CPF that can be used for property purchase will depend on the extent the remaining lease of the property can cover the youngest buyer to the age of 95.

Remaining lease of property is at least 20 years and can cover youngest buyer until at least the age of 95 New rules on total use of CPF
(with effect from 10 May 2019)
Yes Buyer can use CPF to pay for the property up to the VL
No Use of CPF will be pro-rated based on the extent the remaining lease of the property can cover the youngest buyer to the age of 95. This will help buyers set aside CPF savings for their housing needs during retirement (e.g. a replacement property).

The authorities said to ensure prudent use of CPF monies, as well as for funding homes for life, there will still be a minimum lease requirement for the use of CPF for property purchases.

Previously, buyers of HDB flats faced restrictions on the amount of HDB housing loan they could get to purchase flats with remaining leases of less than 60 years. With this update, buyers will now be able to take an HDB housing loan of up to the full 90% Loan-to-Value (LTV) limit , if the remaining lease of the flat can cover the youngest buyer to the age of 95.

New CPF usage rules disadvantage the young from buying resale flats

If the remaining lease of the flat cannot cover the youngest buyer to the age of 95, they can still take an HDB loan but the LTV limit will be pro-rated from 90%, based on the extent that the remaining lease can cover the youngest buyer to the age of 95.

Commenting on the rules change, List SIR said rules have now been updated to take into account the changing needs and higher life expectancy of Singaporeans.

Commenting on the impact of rules change for private properties, the real estate agency said: “We envisage the announced changes to have some impact on buyers and sellers of private properties. First, besides the fact that freehold properties will be more sought afters, the pool of buyers for older leasehold properties with 30 to 40 years of lease left will be increased and with more liquidity injected into the market for such properties.”

“Older buyers will be more open to buy such older properties, while younger buyers will be more akin to look for newer leasehold homes. Older people with larger CPF accounts would also be more willing to invest in properties.

“As for sellers, existing homeowners with properties with 20 to 40 years of lease remaining will likely see a smaller drop in the prices of their properties. This would also extend the economic life of older leasehold properties such as Mandarin Gardens, Pine Grove and Horizon Towers which were unsuccessful in their collective sale process.”

Commenting on the CPF withdrawal rules after age 55 with property, List SIR noted that previously, CPF members above the age of 55 could withdraw their CPF savings above the Basic Retirement Sum (BRS) if they owned a property with a remaining lease of at least 30 years.

List SIR said this was to ensure that they have secured a home in retirement and a basic level of retirement income. To encourage funding homes for life and to secure at least a basic level of retirement income, CPF members will now need to have a property with sufficient remaining lease to cover them until at least the age of 95, before they can withdraw their CPF savings above the BRS.

As all HDB flats and the vast majority of private properties have leases that can last a 55-year old member until the age of 95, this change is not expected to affect most CPF members List SIR said.

Along with the changes in the use of CPF to buy properties, which includes private properties and executive condominium units, there were also updates to HDB housing loan rules for HDB flat buyers, List SIR said. Previously, buyers of HDB flats faced restrictions on the amount of HDB housing loan they could get to purchase flats with remaining leases of less than 60 years. Basically, buyers will now be able to take an HDB housing loan of up to the full 90% Loan-to-Value (LTV) limit, if the remaining lease of the flat can cover the youngest buyer to the age of 95.

Put together, these changes will give buyers more flexibility in funding homes for life while safeguarding their retirement adequacy, List SIR said.

Buyers who bought properties before 10 May 2019 and are still servicing their housing loans will not be affected by these changes. Those who bought their property and turned 55 years old before 10 May 2019 can continue to apply to CPF Board to withdraw their CPF savings above their BRS under the previous rules.

The authorities have also advised those who are mid-way through a property purchase can approach CPF Board or HDB for clarifications and assistance.

In its report, List SIR also released a flow chart below to help home buyers find out how much CPF they can use to buy their property and how much loan they can take.

funding homes

Funding homes for life

How to Secure a Home Loan Quickly

Are you planning to invest in properties during this period of private home price decline but ensure of funds availability for purchase? Don’t worry because iCompareLoan mortgage broker can set you up on a path that can get you a home loan in a quick and seamless manner.

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CBRE: Largest data centre market in region, S’pore, to remain a tenants’ market

Click on CBRE: Largest data centre market in region, S’pore, to remain a tenants’ market
for the source.
Author: Ravi Philemon

I recent research by CBRE reported that Singapore, the largest data centre market in this region, will remain as a tenants’ market because of ample supply.

largest data centre market

Screengrab: CBRE

The CBRE report titled ‘Asia Pacific Data Centre Trends Q1’, said the region’s data centre market continues to expand. Colocation supply across the ten Asia Pacific markets covered by CBRE Data Centre Solutions Services totalled of 1,772 MegaWatts (MW) in Q1 2019.

Demand is predominantly coming from large technology and global cloud corporates from the U.S. and China, ensuring fitted capacity remains tight across the region, said the report.

“The pipeline is totaled for about 800 MW which will help to ease the tight availability over the past few years. Nonetheless, Singapore, the largest data centre market in this region, will remain as a tenants’ market with the ample supply.”

The report noted that with 20 submarine cable systems landing, Singapore is the best connected tier I market in Asia Pacific. It added that strong connectivity along with reliable power supply sources has helped Singapore become not only the largest data centre market in this region, but also a data centre hub.

“The city-state’s conducive business environment has also allowed the data centre industry to flourish and created a highly competitive market. The presence of reputable international and local operators with strong track records has ensured end users have greater leverage and options for their deployments.”

Take-up and demand in the largest data centre market in this region

CBRE said that large-sized technology and cloud companies have been the major demand drivers, displaying large and unprecedented requirements and accounting for a significant amount of colocation space in the last 18 months. A colocation data centre is a standalone building in which multiple companies share space for storing and running their IT equipment, akin to a multi-tenant office building or apartment complex.

A Hyperscale Colocation typically denotes large power requirements (>500 kilowatts, kW) but end-user is specifically a cloud or large tech company with requirements for scalable power, storage, and cooling; whereas wholesale colocation typically denotes large power requirements (>500 kilowatts, kW).

CBRE said in its report that it only tracks carrier neutral colocation markets which excludes non-carrier neutral facilities, system integrators and self owned facilities (including the hyperscale cloud).

Supply in the largest data centre market in this region

CBRE expects significant new supply to enter the market in the next three years, with an estimated pipeline of 177.2 MW, equivalent to around half of existing supply.

Pricing in the largest data centre market in this region

The research said that Singapore will remain an end-user market over the next 24 months due to its ample pipeline. However, data centres with strong connectivity will still be able to command premium rents for retail colocation requirements, the research added.

The report on Asia Pacific Data Centre Trends comes after CBRE launched a specialist service for investors who want to buy into data centers. The new Data Center Capital Markets practice, will be led by a newly-appointed SVP: Kristina Metzger, who comes to the job after nine years at CBRE’s Data Center Solutions division, a real estate team which handles data center consulting, brokerage, project management, and operations. As a data center tenant advisor, she worked with AT&T, American Express, Boeing, Broadcom and others.

The move comes in response to huge demand for data center investments: CBRE says there was more than $12 billion invested in North American data centers in 2018, and “capital availability remained abundant throughout the year.”

“Demand for data center investment has never been greater as aggressive foreign capital, institutional investors and infrastructure funds have started targeting the asset class. As many of these groups enter the space, they are targeting direct investments and also joint ventures, recapitalizations, and the outright purchase of data center operating companies. There have never been more creative solutions to capitalize data center transactions than there are today,” Metzger said.

The new business will be complementary to CBRE’s existing Data Center Solutions business and CBRE Capital Advisors, the company’s North American investment banking business, CBRE says.

“Kristina is a nationally recognized data center expert with deep client relationships and is well qualified to drive our capital markets in this space to the next level,” Chris Ludeman, global president of capital markets at CBRE, said. Metzger will run the practice from San Diego,

CBRE also has a valuation and advisory service for data centers based in Chicago, led by Christopher Fudacz.

How to Secure a Commercial Loan Quickly

Are planning to purchase properties for investment in the the largest data centre market in this region but unsure of funding? Don’t worry because iCompareLoan mortgage brokers can set you up on a path that can get you a commercial loan in a quick and seamless manner.

Alternatively you can read more about the Best Commercial Loans in Singapore before deciding. Our brokers have close links with the best lenders in town and can help you compare Singapore commercial loans and settle for a package that best suits your commercial purchase needs.

Whether you are looking for a new commercial loan or refinance, our brokers can help you get everything right from calculating mortgage repayment, comparing interest rates all through to securing the loan. And the good thing is that all their services are free of charge. So it’s all worth it to secure a loan through them.

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Money-saving Tips for the Self-employed

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for the source.
Author: Marubozu

This article was originally published by Uncapped Mortgage

Gone are the days when the American dream means climbing the corporate ladder. Over the last years, the mindset of the American worker has shifted to valuing flexibility and freedom over stability. Self-employment continues to be a rising trend as employees leave their day jobs to do freelance work or start their own business.

 

One of the major challenges self-employed individuals face is managing cash flow. Since you do not have the regular pay that a day job provides, not to mention health insurance and tax duties, it can be challenging when all these things fall on your shoulders. Saving and budgeting can be taxing, too, as there will be months when you’ll be flushed with cash, while there will be months when you’ll need to tighten your belt a little.

 

Below are a few money-saving tips for the self-employed.

 

Set a budget.  Whether you are a business owner or a freelancer, this is very crucial. Good financial planning can determine the success of your new venture. Total all your income sources. Make sure to list down all your expenses every month. Determine all the fixed costs such as monthly bills, subscriptions, and mortgage, which takes up a huge part of your budget. You may want to consider paying off your mortgage early to get it out of the way and have more room in your budget for other things like savings and retirement fund.  After listing down the fixed costs, add the variable expenses such as payment to freelancers if you hire some, and any other expense that vary month-to-month. By doing this, you’ll know the amount of cash you need every month to live comfortably. Stick to the budget as much as you can. There are plenty of budgeting apps and tools that can assist you with this.

 

Set your rate. Do not undersell yourself and do not be shy to increase your rates as you gain more experience. In terms of billing, it’s better to be billed in installments rather than in lump sum at the end of a project. It would be harder to budget your money if your cash comes in once every three months rather than having them sent in monthly installments.

 

Build your emergency fund. And maintain it. It is important to always save for the rainy days. An emergency fund can save you from high-interest debts in times of financial stress. Make sure you have a fund, ideally a 6-month cushion – for when something unexpected happens such as a big client backing out. This 6-month cushion cannot be built right away, but you must work towards building it as soon as you begin getting paid. Set a certain percentage of your income to be allotted to this fund every month.

 

Know your taxes. Now that you are self-employed, you no longer have your HR department’s compensation and benefits people to look after your taxes. You must do them yourself now. Be aware of the tax bracket you are in now that you have gone solo. If you are a business owner, seek the help of a financial advisor in determining the best entity type to register your business as.

 

Get help. Time is money. If you think it would be best to delegate some of your tasks to freelancers in order for you to focus on more crucial tasks, hiring help could be a great idea.

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8 steps for getting out of crippling personal loans debt

Click on 8 steps for getting out of crippling personal loans debt
for the source.
Author: Ravi Philemon

It’s always important to put yourself in a solid financial position, and one good way to do that is to dig out of personal loans debt.

By: Phoenix Lee/

personal loans debtA structured, disciplined approach can help you get out of personal loans debt whether your balance is $5,000 or $50,000. Follow these eight tips to get out of personal loans debt as quickly as possible.

1. Take stock
Before you start reducing your personal loans debt, know where you stand. A lot of people will say they’ve got a certain amount of debt when in reality, it’s a lot more. You’ll never hit your target if you don’t know where it is, so be brutally honest with yourself.  What you need to do is write down the debt and the interest rate on every personal loan you have.

2. Improve your rates
The quickest way to save big on your personal loans debt is to try and negotiate a lower interest rate. If you can shave off even a percentage point or two, you can save hundreds as you pay off your debt. A simple phone call and a polite request may be all it takes. While your credit score will play a large role in whether or not you get a rate cut, it’s not the only factor. Every lender has its own approach to this issue. It never hurts to give it a shot.

3. Track your costs
Write down all your regular, committed expenses (mortgage, utilities, insurance, transportation, minimum credit card payments, phone, internet, etc.), and track other variable expenses such as restaurant meals, entertainment and travel. This will serve as the foundation to your budget.

4. Create a budget
It’s time to take an ax to some of those expenses. The key is to be realistic: You’ll have to make some sacrifices, but you don’t need to live on bread and water. Cutting back can be more effective than cutting out. It’s hard to adjust your lifestyle too dramatically, and often, little adjustments can add up to big savings. Cutting out a single restaurant dinner each week, ratcheting down your fibre TV plan and changing your thermostat by a few degrees can give you the jump start you need. Be sure to give yourself a bit of breathing room in your budget in case an unexpected expense pops up.

5. Choose your payoff strategy
There are two personal loans payoff strategies. The first is to plow all your extra cash into the highest-interest personal loan while paying the minimums on the others — which is the fastest way, overall, to lower your debt. Once the first loan is paid off, you have even more extra cash, and should apply it to the loan with the next-highest rate, and so on, creating a debt payoff snowball effect.

Loan consultant could be your best friend when you need that extra money in tough times

A second strategy to tackle your personal loans debt is to pay off your loan with the lowest balance first while continuing to pay the minimums on the others.

Though this is not the most cost-effective way to banish your debt, it’s the fastest way to eliminate debt on a single loan, and it can be a psychological boost to eliminate a bill for good.

6. Pay for everything with cash
People use less cash when they pay for the purchase with hard cash then with borrowed money.

Financial crisis – How to resolve it? A step-by-step guide

7. Find your motivation and support
Create concrete goals to stay focused. Maybe getting rid of personal loans debt will allow you to save to go on a dream vacation or stop worrying about every bill that hits your mailbox. Swap stories, successes, and challenges with your family. Or perhaps an online forum where you can feel supported – where you can say “I’m so tired of trying to save money.” There are hundreds of personal finance bloggers and forums where you pull up a virtual chair.

8. Track your progress
While you don’t want to spend every day fretting over your bills, keep an eye on your spending. Revisit your progress every few months,. You don’t want this to consume your life. It took you awhile to get into debt, and it’s going to take you awhile to get out of it.

These 8 steps are only guides to help you get out of personal loans debt and to put yourself in a solid financial position. Very often, you would have to exercise a good dose of flexibility and common sense to deal with personal loans debt.

How to Secure Personal Loans Quickly

If you are in a financial crunch and are searching if personal loans useful to expand your business, the loan consultants at iCompareLoan can set you up on a path that can get you a it in a quick and seamless manner. Our loan consultants have close links with the best lenders in town and can help you compare various loans and settle for a package that best suits your needs. Find out money saving tips here.

Our Affordability Tools help you make better property buying decisions. iCompareLoan Calculators help you ascertain the fair value of a property and find properties below market value in Singapore.

If you are looking for a new home loan or to refinance, our Mortgage brokers can help you get everything right from calculating mortgage repayment, comparing interest rates all through to securing the best home loans in Singapore. And the good thing is that all our services are free of charge. So it’s all worth it to secure a loan through us for your business expansion needs.

Contact us for advice on a new home loan.

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Parc Botania: A Silent Haven Surrounded By Lush Greenery

Click on Parc Botania: A Silent Haven Surrounded By Lush Greenery
for the source.
Author: iCompareLoan Editorial Team

Image Credits: Parc Botannia, Sing Holding Ltd and Wee Hur Holdings Ltd

Situated along Fernvale Road in Singapore’s District 19, Parc Botannia is an exciting new condo development brought to you by Sing Holding Ltd and Wee Hur Holdings Ltd, who are on a joint venture. With it unique and iconic nature, the development is set to be a major highlight in the Sengkang area.

The residential development features 4 blocks rising 22-storey high and housing a total of 735 units. In terms of unit types, Parc Botannia comes with a mixture of 1 to bedroom apartments perfect for everyone to choose from. 1 Bedroom units (420 t0 506 sqft) are designed for singles and small families, while 2-bedroom units (581 to 936 sqft) feature ample space with decent living, dining, bathroom and balcony areas.

3 bedrooms (861 to 1055 sqft) and 4 bedrooms (1130 to 1453 sqft) are reasonably bigger, with extended living space, and are just ideal for fairly large families. Parc Botania’s 5 bedroom units, on the other hand, measure between 1410 to 1668 sqft and come with everything there’s to expect for comfortable living, including a private lift.

A Close-Up Look At the Amenities around the Area

Sengkang/Fernvale , where Parc Botannia is located, is an area that’s undergoing rapid development. So any home seeker or investor would expect to find a great number of well-developed and easily accessible amenities around.

Here are some of the key amenities surrounding or located close to the Parc Botannia residential development:

Shopping Malls

The Selectar Mall is the nearest shopping mall around, lying just 700 meters away. Within this mall, there is a supermarket, a cinema, tutorial center as well as an enrichment center. Compass One is also located not-so far away from the development and offers great shopping opportunities for general stuff, specialty goods and dining. Another conveniently accessible shopping outlet in the area is Greenwich V, which comprises a supermarket as well as food and beverage outlets.

Schools

Educational institutions are available in plenty with Parc Botannia’s immediate neighborhood. Some of the nearest schools around include Fernvale Primary, Sengkang Green Primary and Pei Hwa Secondary. Fern Green Primary, which was opened in 2018, is roughly 500 meters from the residential development. Hence this is good news for parents with school-going kids.

Recreational Amenities

The Sengkang Riverside Park lies just one LRT station from Parc Botannia and has amazing facilities for cyclists and those interested in doing exercises. Sengkang Sports Complex is conveniently accessible from the park via a floating wetland. Within the sports complex, there are swimming pools, tennis & badminton courts, a gymnasium and more for sports lovers to use.

Other Notable Amenities

Along the Jalang Kayu Road, there are a sizable number of eateries and shops where residents can enjoy a quick meal or shop for regular items. The Senkang General & Community Hospital, which opened in August 2018, is also a tiny distance away from Parc Botannia, making access to medicare emergency treatment easier.

Transport Accessibility

The Thanggam LRT Station, linking to Sengkang MRT Station in the NE-Line, is found a mere 2 minutes’ walk away from Parc Botannia. Public transport here is also breezy, thanks to the numerous bus services in Jalan Kayu, plying to such areas as Punggol, Hougang, Yishun and Ang Mo Kio.

For those who would prefer to drive, the residential development is just a few turns away from major expressways like the Tampines Expressway (TPE) and Central Expressway (CTE). This makes travelling to and from Parc Botannia via Jalan Kayu and arterial roads seamless.

Latest Parc Botannia Price Guide

The cost of land for the Parc Botannia project was at $517. That when added to construction cost, expenses and margin, the estimated selling price comes to about $1,127. The prices are bound to fluctuate based on demand and market sentiment.

Lessen The Burden of Home Loan Acquisition with iCompareLoan Mortgage Broker

If you’re looking for an easy channel through which you can search and secure a home loan in Singapore, iCompareLoan mortgage broker has got your full back. Having been in the industry for a minute, we know exactly what home buyers need and what lenders are willing to offer. So we come in the middle to ensure we connect you to the best of loan items in the market.

With us, you are able to compare mortgage loan Singapore, choose from the friendliest of packages and proceed to complete the acquisition process quite seamlessly. Working with top banks and lenders in the country, we ensure you don’t just have access to loans with favorable terms and interest rates but also get to secure the loan as fast as possible.

Though our brokerage services are comprehensive, we don’t charge anything at all. So ours is ensuring you enjoy greater value on your loan search and application, literally without paying a dime.

Get started here today.

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Kandis Residences: A Silent Home Where Comfort & Luxury Thrive

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Kandis Residences: A Silent Home Where Comfort & Luxury Thrive


for the source.
Author: iCompareLoan Editorial Team

Image Credits: Kandis Residences, Dillenia Land Pte Ltd

Kandis Residences is a unique up and coming condo development that sits along Jalan Kandis in the highly sought-after District 27. The development, by developer Dillenia Land Pte, will consist of 4 blocks, with one block being 3-storeys high and the rest of the 3 rising 7-storeys up. The project is expected to yield a total of 130 lavishly furnished units, featuring a thoughtful mix of 1 to 3 bedroom units, with some having Study options.

Condo Facilities

With the Kandis Residences being among the most iconic residential developments in the area, any home seeker or investor would expect it to come with lots of amenities. And for sure, the developer didn’t disappoint when choosing the communal facilities to include within the development. That means residents can actually relax, exercise, play and enjoy great social fun all hassle-free within the condo.

Some of the key facilities found within the condo include a 33-meter infinity pool, bubble pool, lounge deck (with trellis), children’s playground, courtyard water garden, Reflexology, Tai-Chi Lawn and reflecting pool. There’s also a club with gymnasium, a multi-purpose function room, 2 BBQ pavilions and more that residents can enjoy.

Location

Kandis Residences in nestled in a quiet and serene enclave along Kandis Link. This means the condo will provide a perfect escape from the somewhat noisy and stressful city life for future residents. It is also located near Sambawang Park and beach, where enjoy nature walks, do morning exercises and relax as they soak in the beautiful natural scenery around. The condo is also a few minutes away from the new and buzzing Woodlands Regional Center, which presents numerous opportunities not just in terms of shopping and employment but also setting up businesses. Kandis Residences’ immediate neighborhood is also replete with schools, malls and other social amenities, making life on this side both exciting and rewarding.

Connectivity and Transport

The easiest way to get to and from Kandis Residences is by bus, servicing the Sembawang bus interchange. The Sembawang MRT Station, which is minutes away from the condo, is a great alternative for those who prefer travelling by train. And with the future Canberra MRT station being the closest MRT around, residents will enjoy greater convenience travelling once it’s completed.

For those who prefer driving to and from town or other parts of the island, the development is just a tiny distance away from major expressways. These include the Seletar Expressway (SLE), which connects to the Buki Timah Expressway (BKE), the Central Expressway (CTE), Tampines Expressway (TPE) and the future North-South Expressway (NSE).

Schools

There are many prestigious schools and educational institutions within Kandis Residences’ immediate proximity that parents and students can take advantage of. Some of the schools located nearby include Northoaks Primary, Wellington Primary, Canberra Primary & Secondary and more. Tertiary learning institutions like Republic Polytechnic and Yishum Junior College are found a little further away from the development but can still be conveniently accessed.

Shopping Amenities

Upscale shopping malls and centers abound within the condo’s immediate neighborhood. The main highlights though include the Sun Plaza, Canberra Shopping Center, Sembawang Shopping Center and the future Canberra Plaza.

F&B Outlets, Banks and Others

For those who love dining out, there are countless restaurants, trendy cafes, food courts, fast food joints and coffee shops in the immediate neighborhood that they can visit. Further, there are pet shops, banks, a library, KTV and many more amenities located either within or close to the major shopping malls and complexes, lying not-so far from the condo.

Kandis Residences Selling Points

-Low-density condo with only 130 units

-Nestled in a private residential enclave, surrounded by nature and close to the beach

-Walking distance to the Sembawang Park

-Short driving distance from major shopping malls, MRT stations and Expressways

Condo Prices

Kandis Residences, despite its luxurious units, has attractive prices. Prices for the units start at $1,100 going up. 1 Bedroom unit prices begin from $600k while 2 and 3 bedroom units’ price start from $800k and $1.1 mil going up.

iCompareLoan: Walking With You Through Your Loan Acquisition Process

Getting a new home loan can be quite a daunting task if you don’t have a reliable broker to work with. iCOmpareLoan is here to help you out get your hands on the best loan packages from the top lenders in the country. Through our platform, you can compare home loan Singapore, choose the most favorable of options and link up with the lenders to complete the loan acquisition.

The steps for getting a loan are easy through us and the whole process in quite seamless. Why don’t you begin your home ownership journey with us by making use of FREE our brokerage services?

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Riviere condo to open for preview on May 25

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for the source.
Author: Ravi Philemon

Frasers Property Singapore announced today that it will open Riviere condo for preview on May 25 (Saturday). Riviere condo, a luxury residential development, will feature 455 units spread across two 36-storey towers.

The 99-year leasehold property located by the Singapore River and expected to be completed by 2023, offers one to four-bedroom apartments ranging from 560 square feet to 2,002 sq ft.

Pricing for Riviere condo starts from S$2,580 per sq ft.

The development which is to be launched in phases starting from July 2019, can easily be accessed from the future Great World MRT station that links with the Thomas East-Coast Line set to be operational by 2021. This means that future residents will enjoy easy access to the famous Orchard Road which will be just one train station away. The Orchard Train Station also allows residents to directly connect to East Coast Parkway, Marina South Station, Shenton Way Station and more.

Private vehicle owners can enjoy easy access to Marina Bay Financial District and Downtown Financial District through the major expressways linking the area. The Marina Coast Expressway, East Coast Parkway and Central Expressway connect River Valley Road to other parts of Singapore providing its resident’s easy rides. With excellent transportation, you can expect to enjoy easy access to nearby shopping centres, schools and other amenities in the precinct.

Speaking about Rivière’s location, Frasers Property Singapore chief executive officer Christopher Tang said: “Every great city has an iconic river, and so does Singapore. With Rivière, we have thoughtfully set out to create a space that would take full advantage of its rare and significant location.”

Riviere Condo Factsheet

Condo Riviere
Address Jiak Kim Street, Kim Seng Road
Developer Frasers Property
Tenure 99 Years
Condo District  9
Site Area 13,481.7 sqm
Gross Floor Area 145,120 sqft
No of Blocks  1
No of Storeys To be advised
No of Units 525 Units
Unit Types  1 to 5 br
Unit Sizes To be advised
Architect To be advised
TOP To be advised
Price Guide 2400-2800psf
Land Lot Number MK25-04111N
Plot Ratio 3.8
Price Guide
Price Bedroom Type
From $2400-2800 psf 1 Bedroom
2 Bedroom
3 Bedroom
4 Bedroom
5 Bedroom
Riviere condo

Image credit: Frasers Property Singapore

With all 455 units elevated over 18 m above ground level, most residents will have unimpeded views of the Singapore River, while the Sky Deck on the 37th storey will offer impressive city views along with spas and an eatery. Riviere will be built as a residential cum commercial site with its larger development consisting of three conserved 100-year-old godowns along Jiak Kim Street, and newly built four-storey serviced apartments. The godowns will host a specialised grocery store, food and beverage outlets and more.

Riviere Condo was originally reserved by on the GLS programme with a 99-lease period. The site at Jiak Kim Street also enjoys a high unit land price on a psf basis for all the GLS sold except white and commercial sites.

According to real estate experts, Riviere might have a breakeven cost of around S$2,450 psf. So, assuming that Frasers property needs a profit margin of 5-10 per cent then the average selling price will be around S$2,700 psf. And, with the prevailing buoyant sentiment, the Riviere could enjoy up to 10% price appreciation within 1 year which would result in a price of S$2,727 psf for the site.

River Valley properties are on demand by foreigners as well as the locals for various good reasons. Being an area in district 9 of Singapore, properties in this area are sited on prime land. There are lots of benefits to enjoy living in Riviere condo and the neighbouring developments ranging from unique facilities to incredible shopping options, easy access to other parts of Singapore, proximity to plenty amenities to the prestige associated with living here.

The River Valley area is packed with various amenities, and it doesn’t fall short when it comes to educational institutions. Just a few minutes from Rivere Condo will get you to the nearby River Valley Primary School. Other schools which are easily accessible from Rivere include:

  • St. Margret Primary School
  • School of the Arts
  • River Valley Primary School
  • Moppeteers at River Valley
  • Dimensions School of Higher Education
  • Outram Secondary School

Besides, there are other plenty of tertiary and postgraduate educational institution a few distances away from Riviere such as Nanyang Academy of Fine Arts and the University of Chicago Booth School of Business. International schools in the vicinity include The Swedish Supplementary School and the Finish Supplementary School. There are also childcare centres and preschools to cater to the educational needs of young children.

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Retail leasing market in Singapore remains steady but headwinds remain

Click on Retail leasing market in Singapore remains steady but headwinds remain
for the source.
Author: Ravi Philemon

CBRE’s Asia Pacific Retails Trends said that the retail leasing market in Singapore remains steady, but restrictions on hiring foreign labour are set to weigh on sentiment in the coming quarters.

Besides its analysis of the Singapore retail leasing market, the report also looked at the China, Hong Kong, Japan, Korea, India and Australia markets.

The report summarises the trends of retail leasing market as such:

  • Asia Pacific retail leasing markets were quiet in Q1 2019 as most retailers adopted a cautious approach to expansion amid downcast sales performance.
  • Demand was led by cosmetics and personal care tenants, which are increasingly sought after by shopping mall landlords due to their strong sales and ability to attract high footfall. F&B expansion remained steady, led by cafes, dessert outlets and casual dining establishments.
  • Weaker consumption is expected to inhibit leasing activity over the course of 2019. Economic headwinds will force a rethink of operating strategy, with retailers expected to slow their pace of expansion and focus more on enhancing the overall shopping experience.
  • Shopping centres and department stores will undergo renovations or repositioning exercises, such as introducing new store formats and experience-based offerings.
retail leasing market

Image credit: NLB – The retail leasing market’s rate of expansion has slowed in recent months said the CBRE report.

Sporting goods retailers and gyms remained key drivers of leasing demand in Singapore said the report. Even with this trend, the retail leasing market’s rate of expansion has slowed in recent months said the CBRE report. Entertainment retailers such as children’s indoor activity park are displaying strong demand for large spaces in shopping malls, the report added.

F&B is reaching saturation in the retail leasing market said the report.

But nevertheless Q1 saw selected groups experimenting with new formats said the report. These include an online provider which opened a central kitchen for F&B retailers to reach a new catchment area. Cosmetic brands, led by Korean and western names, continue to utilise pop-up stores for new product launches. As for luxury retailers, their leasing demand was limited, but there were no cases of downsizing or store closures. The report warned that retailer sentiment, especially among labour intensive trades, will turn cautious in the coming quarters.

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It added that new pipeline supply remains limited beyond this year in the retail leasing market.

The report noted that following trends in Singapore’s retail leasing market:

  • New restrictions on the hiring of foreign workers will negatively impact leasing demand from leabout intensive segments such as F&B.
  • The Strategic Development Incentive Scheme may prompt the renovation of older retail properties in the Orchard area.
  • On online grocery retailer received special dispensation to open a supermarket and F&B store in a warehouse this quarter.

The report presented the following selected leasing transactions:

Tenant Size (SQ FT GTA) Property Location
Decathlon Singapore Lab 53,820 Kallang Fringe
Library@HarbourFront 32,000 VivoCity Fringe
Don Don Donki 26,000 City Square Mall Suburban
SK-II Boutique Spa by Senze Salus 4,000 Raffles City Fringe

Source: CBRE Research

Commercial property landlords may be recalibrating rents and occupancy levels

CBRE had earlier commented on the Q1 statistics released by the Urban Redevelopment Authority (URA) and said, the data suggests a plateauing of the retail property market.

Mr Desmond Sim, CBRE’s Head of Research for Southeast Asia, said: “On the back of the introduction of new supply, vacancy rates have risen from 9.6% in Q4 2018 to 9.9% in Q1 2019. Orchard Road and Outside Central Region submarkets have seen higher vacancy rates of 6.1% and 11.1%, respectively, this quarter.”

He added: “Looking ahead, with the physical occupation of recent completions, the likes of Jewel Changi Airport and the AEI of TripleOne Somerset, being taken into account, we expect the vacancy rate to compress.”

CBRE believes that in addition, the supply pipeline om the retail property market is expected to tighten over the next few years, which will further equalise the demand and supply balance.

The retail property market continues to be a two-tier market with resilience in the prime spaces while secondary spaces and floors remain challenging, noted CBRE. It added that landlords for such secondary spaces would have to strike a fine balance between occupancy and rental values.

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