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Home mortgage refinance calculator is most beneficial to save money

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Author: Ravi Philemon

For many people, the best way to learn if in fact they should refinance is to use a home mortgage refinance calculator

By: Hitesh Khan/

Refinancing is often booked as one of the most beneficial ways to save money on your home mortgage. This is not always true and the fact is where you save the money may not be exactly where you want to.

For many people, the best way to learn if in fact they should refinance is to use a home mortgage refinance calculator to help them to break down the facts of their loan and really understand if this is the right decision.

For a good amount of those that do this, the benefits are there. For others, you may end up paying far more than you realized that you would.

What Makes Refinancing Worth It?
There are many things that play a role in whether or not refinancing is a good move. The first thing is to determine what your overall goal is by refinancing. It can answer many questions for you including providing you with these benefits. Why do you want to refinance?

  • Do you want to save money on your loan in total?
  • Do you want to save money per month on your mortgage payment?
  • Do you want to borrow more money and still have just one loan?
  • Do you want to cut down your terms so that you are paying off your loan sooner?
  • Do you just want a lower interest rate or a different type of loan?

The humble mortgage calculator is an essential tool for all types of home buyers

All of these things are good reasons to refinance, but the picture has to be brightened a bit more so that you can see the details of how this will affect your total home ownership abilities.

home mortgage refinance calculatorYou can learn the details by using a home mortgage refinance calculator to help you.

Depending on what your goals are, you will be able to see if this is a wise move or if you should be looking for another solution to your problem.

How To Break It All Down
For anyone looking to invest in a mortgage or to refinance their mortgage, the goal is to know what to expect. You should know what you are going to pay per month. You should know how much you will pay in all (interest and principle together) as well as how long you will be making payments. When you refinance your loan, you take what you currently have and make changes to it in the hopes of accomplishing your goals.

For example, if you want to save money on your loan in total, then you will want to be sure to get a lower interest rate on your loan or use a shorter terms for that loan. If you want to have a smaller monthly payment to pay on your loan, then the best course of action here would be to extend the terms of your loan back to their original terms (if you have been paying on your 30 year mortgage for 5 years, instead of having just 25 more to go, you would re-extend them to 30 years and start over.)

Mortgage Broker Singapore – Should I use one?

Using A Mortgage Calculator To Get Answers
When it comes to refinancing, you want to know what you will save. You can use a home mortgage refinance calculator to help you to learn this. Here’s an example of what refinancing may cost you or save you.

Your original interest rate: 2.6 per cent
The original amount you borrowed to buy your home: $2,000,000
The original loan term that you had: 30 years
The number of months left to repay the original loan: 120
New interest rate you can get: 2
New loan amount you are borrowing: $1,800,000
New loan term: 30 years

The results are simple to see. Your old loan would cost you about $9,073 per month in payments while the new loan will save you by reducing your monthly payment to $7,629. This is a savings per month of $1,444, which is significant for most people. This saves you over $17,328 per year by refinancing.

This is an ideal investment because you are doing several key things. First, you have a reduction in the interest rate of your loan, which nearly always saves you money. More so, you are also seeing a reduction in the amount of money that your new loan will be. If this is the same as the original loan, you may not see as much savings.

In this type of loan, you are refinancing and will save money, but that is not always the case. If you refinance for a longer term, as in this case, you do lose the time and payments that you have made currently on your home. Yet, when you reduce the amount that you are borrowing this is not a factor. What is important to note is that all of these variables can change. The interest rate available to you can be based on your credit score. If you are looking for an adjustable rate loan, then there is no definite way to see what could and could not happen in terms of cost.

The best thing for anyone that is considering a mortgage refinance to consider is to use a good home mortgage refinance calculator to help you to clearly see how much money you could save, how much money you can keep in your pocket each month!

For most people, the goal is to lower their monthly payment, but remember too that you can drop your terms, increase them, or even borrow against the equity that is in your home to pay down credit cards or to buy something. Refinancing your loan puts you in the position to make decisions with your money.

Use a home mortgage refinance calculator to help you to see where and how you should do this. It will clearly help you to find the most beneficial investment in the short term and in the long term.

The humble mortgage calculator is an essential tool for all types of home buyers

After reading this article, if you are persuaded into trying out a mortgage calculator, you can try the range of useful ones we have at at www.iCompareLoan.com.

For advice on a new home loan.

For refinancing advice.

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Price of executive condominiums shoot up with supply and demand imbalance

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Author: Ravi Philemon

The price of executive condominiums have shot up almost 25 per cent due to the supply and demand imbalance say property market observers.

JLL in noting that the supply of executive condominiums are drying up said “only three new EC units were sold in December 2018, from among the few left-over units in new EC projects.”

It added: “An EC in Rivercove Residences was sold for $964 psf while two units in Northwave were sold at a median price of $908 psf. The year as a whole saw 628 new ECs launched and 1,137 units taken up. The supply and demand imbalance resulted in the median prices of new ECs shooting up from $793 psf in 4Q17 to $989 psf in 4Q18, a 24.7 per cent increase.”

Executive CondominiumsCBRE too noted that the December sales data released by the Urban Redevelopment Authority (URA) indicated that just 3 units were sold from existing EC projects as there were no new launches. This brought the annual total of Executive Condominiums sold in 2018 to 1,137 units against 628 units from the only EC launch in 2018, which was Rivercove Residences, where median prices were already breaching $1,000 psf.

CBRE noted that this demand and supply imbalance is likely to favour the next launch of executive condominiums at Sumang Walk.

Executive Condo in Singapore – Step by Step Buyer Guide

Nicholas Mak, executive director of ZACD Group said the demand for executive condominiums is expected to remain robust in 2019, but the supply of new EC launches will continue to be limited. He noted that while the number of executive condominiums launched decreased significantly by 59.6 per cent year-on-year in 2018, the number of units sold dropped correspondingly by 72 per cent over the same period.

He believes that the sales of new EC units will increase when the next EC project at Punggol is launched sometime in the 2nd Quarter of 2019. The EC project by City Developments Ltd is estimated to have 820 units and is located at Sumang Walk. “If priced reasonably, the take-up rate of this project is expected to be very high,” he added.

The 628-unit Rivercove Residences EC project was launched in July last year, and saw 80 per cent of the units snapped up on the first weekend at an average of $965 per square feet (psf).

Colliers International said that given the tight supply of executive condominiums over the next few quarters, the market continues to draw strong interest from developers.

Colliers said: “The Tampines Avenue 10 site, with 7 bidders, saw a close winning margin of 0.7% between the winning and second-highest bids. The appeal of this site is that it is a relatively large, regular size plot which can support up to 695 units, located in a mature housing estate surrounded by schools and amenities.”

It noted that”the last EC site sold was at Anchorvale Crescent which was triggered for launch from the reserve list in July last year, and hotly contested with 7 bids.”

Colliers further commented that the developers’ sales last month fell by 49.9% from November to 602 (excl. ECs), but were up by 39.7% against the 431 units transacted in December 2017. After accounting for units that were returned in the quarter, we estimated the total new home sales for the full 2018 to come in at 8,706 units, down by 17.6% from the 10,566 units in 2017 – broadly in line with Colliers’ forecast.

Including Executive Condominiums, developers sold a total of 605 new units in December.

No new Executive Condominium project on the market despite high demand

But just a few years ago, with an oversupply of Executive Condominiums, the story was quite different for the EC market. The demand for Executive Condominiums were driven by their relatively affordable price points for the ‘sandwiched’ class. In recognising this demand, the Government opened for application several sites on its reserved list for Executive Condominium developments.

An Executive Condo is a hybrid type of housing under Singapore’s public housing scheme. In the past, Executive Condo was better known as Housing and Urban Development Company (HUDC) flats. The HUDC system was later overhauled and replaced with Executive Condo.

In the first 10 years of ownership, an Executive Condo takes the properties of an HDB. It is considered as a public housing, which means that the unit can only be sold to Singapore citizens or permanent residents. Furthermore, an Executive Condo will need to fulfil the 5-year minimum occupation period (MOP) before it can be sold on the secondary market, just like any HDB.

Executive condominiums take on the characteristics of an HDB in the first 10 years. But once an Executive Condo hits the ten year mark, it will become fully privatised – this is when the executive condominium will then take the properties of a private property.

How to Secure a Home Loan Quickly

If you want to buy an executive condominium but are ensure of funds availability for purchase, our mortgage consultants at iCompareLoan can set you up on a path that can get you a home loan in a quick and seamless manner.

Our consultants have close links with the best lenders in town and can help you compare Singapore home loans and settle for a package that best suits your home purchase needs. Find out money saving tips here.

Whether you are looking for a new home loan or to refinance, the Mortgage broker 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 advice on a new home loan.

For refinancing advice.

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Park Colonial: Where Grandeur Meets Convenience

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Author: iCompareLoan Editorial Team

Image Credits: Park Colonial, CEL Unique Development Pte Ltd

Park Colonial: A Perfect Fusion of Grandeur and Convenience

Situated a few steps away from Woodleigh MRT Station in the prime District 13, Park Colonial is an exciting new property launch by CEL Unique Development that is expected to draw a lot of attention from investors and home seeker alike. The iconic development, which sits on a 210, 402 sq ft piece of land, has 6 blocks each rising 15 storeys high and housing a total of 805 premium residential units.

Unit Mix

Park Colonial will consist of different units that are highly investible and ideal for all family sizes. All units will be designed with space, comfort and luxury living in mind. The unit types will basically feature a thoughtful mix of 1 to 5 bedroom configurations.

Here are the options you can expect:

-1 Bedroom

-1 Bedroom + Study

-2 Bedroom Classic

-2 Bedroom Deluxe

-2 Bedroom + Study

-2 Bedroom Dual Key

-3 Bedroom Classic

-3 Bedroom Deluxe

-4 Bedroom Classic

-4 Bedroom Deluxe

-5 Bedroom Luxury

Condo Facilities

Park Colonial will have a number of shared facilities put up within the development for a fun, fit and sociable life. Some of the noticeable condo facilities include a clubhouse, function room, swimming pool, gymnasium, tennis courts, sunset bar and hammock pool. Others are BBQ pits, children’s splash pool, sun decks and fun garden.

Condo Pricing

CEL Unique Development bought the plum site area where Park Colonial lies at a staggering cost of $700.7 million. That translates to about $1,110 per square foot (psf) per plot ratio (ppr). And factoring in all the construction costs plus other miscellaneous expenses, experts estimate the selling price to range between $1,720 psf to $1,800 psf.

Accessibility

Park Colonial’s strategic location assures residents of convenient movement to and from the development. There are three major roads stemming from the residential, which include the Upper Serangoon Road, the Braddell Road and the Bartley Road.

Major expressways such as the KPE, PIE and CTE are also highly accessible from the residential. That means travelling the CBD and other places a breeze.

Furthermore, Woodleigh MRT Station, which serves the North-East Line, sits right at Park Colonial’s doorstep. This provides a seamless link for commuters heading to the Serangoon MRT interchange and those further connecting to the Circle MRT.

With so many transport means and options to choose from, getting to work and/or travelling to other parts of the island will no doubt be quick, affordable and hassle-free for future residents.

Nearby Amenities

There are innumerable amenities found in the immediate vicinity of Park colonial including schools, shopping centers, restaurants and more. Some of the prestigious schools located in the precinct of the development include Cedar Primary and Secondary Schools, Stamford American School, the Maris Stella High, CHIJ Katong Convent and more.

In terms of shopping, residents will have convenient access to the NEX Mall and the Venue Shoppes, which are 1 MRT stop away each. NEX Mall comprises 2 food courts, 2 supermarkets, public library, cinema and a set of more than 350 shops. The Venue Shoppes, on the other hand, consists of 28 retails units with a total of 23 Food & Beverages outlets as well as 5 shops.

Park Colonial squarely sits in an upscale location and there are many country clubs within the neighborhood where residents can meet friends, partners and clients for networking and/or building contacts. Some of the prestigious clubs residents can have easy access to include Raffles Town Club, Singapore Islands Country Club, The Tanglin Club and the Serangoon Gardens Country Club.

Get a Home Loan More quickly and effortlessly with iCompareLoan Mortgage Broker

Wondering how to get enough finances to purchase a unit or two at the prestigious Park Colonial condo? Don’t worry because iCompareLoan Mortgage broker has got your back. Our brokerage firm provides an ideal platform where clients can search, filter and compare mortgage loan Singapore from different top lenders in the country in order to identify the best packages.

Whether the project in question is under construction or completed, you can always find a suitable loan package to work with. Sifting through the various loan options and getting in touch with favorable lenders though our platform is quick and seamless and you don’t have to part with a single cent in the process.

For advice on a new home loan.

For refinancing advice.

Download this article here.

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Margaret Ville: Picture-Perfect Living in a Royal Suburb

Click on Margaret Ville: Picture-Perfect Living in a Royal Suburb
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Author: iCompareLoan Editorial Team

Image Credits: Margaret Ville, MCL Land Ltd

Margaret Ville is a newly launched luxury condominium property that elegantly sits along the Margaret Drive in the prime District 3. The masterpiece, which is developed by MCL Land, a renowned property developer in Singapore, will feature a collection of 309 premium units, each fitted with high-end furnishings. Margaret’s luxurious finishing, with close resemblance to a luxurious boutique hotel, is one of its selling points, which makes it attractive to both investors and homeowners.

The 40-storey condo building is surrounded by lush greenery and from its upper floors; residents can enjoy unblocked views of the graceful Bukit Timah Hill as well as the nearby city skyline. Its serene outdoors offer undisturbed tranquility and that seamlessly melds with the area’s urban living dynamism to make life truly rewarding for residents.

About Margaret Ville’s Location

Margaret Ville squarely sits on the city-fringe location of Queenstown, just minutes away from the action yet not so crowded, something that promises residents the best of both worlds. Lying on the south-western part of Singapore’s Central Region, Queenstown is considered one of the best places to live in, in the larger Rest of Central Region (RCR). It is just 10-minute drive from the Central Business District (CBD) and about 6 minutes or so drive away from One-North, which is a boon for those working in these areas.

Unit Mix

The development will consist of smaller investible units ranging from 1 to 4 bedroom configuration. All the units within the condo will feature a uniform quality of materials used for such areas as flooring, bathroom, kitchen & bedroom cabinetry systems as well as brand appliances. Smart home systems and overhead storage systems will also apply across the unit types.

Here is a breakdown of the condo’s units as per the developer:

Nearby Amenities

Future residents of Margaret Ville will have the privilege of accessing a lot of amenities that sit close-by including transport amenities, schools, shopping outlets and social amenities. Here is a breakdown of the major amenities available nearby:

Transport

The Commonwealth MRT Station, which serves the East-West Line, is a mere stone’s throw away from the residence. It only takes a few stops to reach the Central Business District (CBD) and the Orchard Shopping belt, making it convenient for those commuting to and from or going to shop in these areas.

The Commonwealth Avenue West arterial road is perfectly linked to the Ayer Rajah Expressway, providing a quick exit to and entrance from other parts of Singapore. To access the Singapore CBD, residents can conveniently use the Holland Road.

Schools

Reputable educational institutions abound within the Margaret Ville neighborhood. So enrolling children or applying for a course will be a hassle-free thing. Some of the prestigious schools found in the immediate vicinity include New Town Primary, Queensway Secondary, Singapore Polytechnic and Anglo-Chinese School, among others.

Shopping Centers

Residents of Margaret Ville who love shopping can go to the nearby Queensway Shopping Centre, Alexandra Central and IKEA Alexandra. When it comes to foodstuffs, residents can pick local food and fresh produce form the Alexandra Village Food Center, Tanglin Halt Food Center and ABC Brickwork Food Center, which also good cafes around that serve delicious meals.

Recreational Amenities

Residents hoping to enjoy some nature-inspired outdoor fun can visit West Coast Park, Kent Ridge Park and Hort Park, which are just within a walking distance. Queenstown Stadium and Tangling Golf Course are also a short drive away from the residence, providing great convenience for those who would want to enjoy relaxing or adrenaline-pumping sporting action.

Take Advantage Of iCompareLoan Mortgage Broker Services

If you find the process of hunting for a home or housing loan in Singapore to be a daunting and costly affair, iCompareLoan Mortgage broker can make you breathe a sigh of relief. For the many years we’ve been in the industry we have helped thousands of home seekers compare home loan Singapore and choose suitable packages for their property investment needs. And we believe you can get a suitable loan in a fast, reliable manner for the condo unit(s) you’re eyeing.

Our work is simple. We lay out to you the many loan packages from the country’s top lenders and leave you to browse and choose the most favorable one. Whether you’re searching for a home loan for the first time or are in for a refinance, there are plenty of loans available that can match your needs.

For advice on a new home loan.

For refinancing advice.

Download this article here.

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The record government shutdown, if not resolved soon, could be ‘fodder for recession’: Moody’s

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The record government shutdown, if not resolved soon, could be ‘fodder for recession’: Moody’s


for the source.
Author:

“If this drags on into February, March, then growth rates are going to fall to a place where unemployment will start to rise,” economist Mark Zandi warns.
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Refinancing needs can be complex as no two homeowners are in exact same situation

Click on Refinancing needs can be complex as no two homeowners are in exact same situation
for the source.
Author: Ravi Philemon

Finding a mortgage provider and loan that meets your refinancing needs can be a complicated process and customers always have several questions.

By: Hitesh Khan/

The most common reason for refinancing is to save money. Saving money through refinancing can be achieved in two ways:

  1. By obtaining a lower interest rate that causes one’s monthly mortgage payment to be reduced.
  2. By reducing the term of the loan, thus saving money over the life of the loan. For example, refinancing from a 30-year loan to a 15- year loan might result in higher monthly payments, but the total of the payments made during the life of the loan can be reduced significantly.
refinancing needs

Image credit: iCompareLoan

People with refinancing needs also seek to convert their adjustable loan to a fixed loan.

The main reason behind this type of refinance is to obtain the stability and the security of a fixed loan. Fixed loans are very popular when interest rates are low, whereas adjustable loans tend to be more popular when rates are higher. When rates are low, homeowners refinance to lock in low rates. When rates are high, homeowners prefer adjustable loans to obtain lower payments.

A third reason why homeowners refinance is to consolidate debts and replace high-interest loans with a low-rate mortgage. The loans being consolidated may include second mortgages, credit lines, student loans, credit cards, etc.

In many cases, people with refinancing needs believe that debt consolidation will result in savings.

The answer to the question “Should I refinance?” is a complex one, since every situation is different and no two homeowners are in the exact same situation. Even the conventional wisdom of refinancing only when you can save 2% on your mortgage is not really true. If you are refinancing to save money on your monthly payments, the following calculation is more appropriate than the rule of 2%:

  1. Calculate the total cost of the refinance – example: $2,000,
  2. Calculate the monthly savings – example: $100/month,
  3. Divide the result in 1 by the result in 2 – in this case 2000/100 = 20 months. This shows the break-even time.

If you plan to live in the house for longer than this period of time, it makes sense to refinance.

Can a new refinancing loan offer you savings? Typically, a home loan package offers attractive rates for the first three years, following which the interest rates are adjusted upwards, which usually coincides with the end of the lock in period, offering borrowers a good opportunity to relook at their loan.

Let’s take a look at how refinancing can lead to potential savings over a 3-year period.

Current loan:

Outstanding loan amount: $400,000

Interest rate: 2.5% fixed for 3 years
Tenure: 30 years

Using our mortgage payment calculator, the monthly payment is S$1,580.48

Year Monthly Installment Monthly Principal Paid Monthly Interest Paid Annual Principal Paid Annual Interest Paid Balance
1 1,580.48 747.15 833.33 8,965.76 10,000 391,034.24
2 1,580.48 765.83 814.65 9,189.90 9,775.86 381,844.34
3 1,580.48 784.97 795.51 9,419.65 9,546.11 372,424.68

 

Total interest paid over 3 years is $29,322

New loan:

If you are able to refinance your loan to a lower rate, for example:

FHR-18 + 0.9% (Assume that FHR-18 = 0.6%) = 1.5%
Using our mortgage payment calculator, the monthly payment is S$1,380.48

Year Monthly Installment Monthly Principal Paid Monthly Interest Paid Annual Principal Paid Annual Interest Paid Balance
1 1,380.48 547.15 833.33 6,565.76 6,000.00 393,434.24
2 1,380.48 888.69 491.79 10,664.25 5,901.51 382,769.99
3 1,380.48 902.02 478.46 10,824.21 5,741.55 371,945.78

Total interest paid over 3 years is $17,643.

The difference in interest payment over 3 years ($29,322 – $17,643) is $11,679.

Refinancing a home loan would mean reassessing your credit standing. You have to consider questions such as:

  • Has your salary increased/decreased since the last assessment?
  • Have you taken up more loans?
  • Have you been paying your bills on time?

These factors will affect your credit score and willingness of the bank to refinance your loan.

10 things to consider before Refinancing your Home Loan

Sometimes, you do not have a choice – you are forced to refinance. This happens when you have a loan with a balloon provision, but with no conversion option. In this case it is best to refinance a few months before the balloon comes due.

Banks can come up with customised solutions to meet your needs whether it is to change the loan tenure or lower your monthly payments. Find the bank that offers you the best solutions. However, do note that generally if you stretch your loan tenure over a longer period, the interest payable at end of loan is higher.

Whatever you choose to do for your refinancing needs, consulting with a seasoned mortgage professional can often save you time and money. Make a few phone calls, check out a few web sites, crunch on a few calculators and spend some time to understand the options available to you.

Mortgage Broker Singapore – Should I use one?

How to Secure a Home Loan Quickly

Are you seeking new mortgage loans for your refinancing needs? Don’t worry because iCompareLoan mortgage brokers can set you up on a path that can get you a home loan in a quick and seamless manner.

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

Whether you are looking for a new home 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.

Talk to us if you need refinancing advice.

For advice on a new home loan  or Personal Finance advice.

To speak to our Panel of Property agents.

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Freehold commercial building near Farrer Park MRT for sale

Click on Freehold commercial building near Farrer Park MRT for sale
for the source.
Author: Ravi Philemon

JLL, as the exclusive marketing agent, announced the sale of 291 Serangoon Road, a freehold six-storey commercial building located within a short walking distance to Farrer Park MRT station.

291 Serangoon Road291 Serangoon Road is located on a corner plot and commands a 35-metre wide dual frontage onto Serangoon Road and Burmah Road.

The property occupies a land area of 5,455 sf and spans an estimated area of 19,913 sf. Based on the Master Plan 2014, the site is zoned “Commercial” with a Gross Plot Ratio of 3.0.

291 Serangoon Road houses a food and beverage (F&B) tenant on the ground floor, a night club on the second and third floor, as well as offices on the upper floors. Subject to approval from relevant authorities, potential uses include retail, showroom, fitness centre, medical suites, entertainment and serviced apartments, amongst others. The incoming owner has potential naming and signage rights for the property.

The building has a highly accessible location that is 200 metres from Farrer Park MRT Station and a short 10-minute drive to the Central Business District (CBD). Major expressways are located in close proximity, including Pan Island Expressway (PIE), Central Expressway (CTE) and East Coast Parkway (ECP).

With its excellent city fringe location and strong transport infrastructure, the Farrer Park area has evolved into a bustling commercial and medical hub, well-served by a myriad of trendy F&B and lifestyle offerings.

The area is undergoing further rejuvenation with the development of several new developments including Centrium Square, a 19-storey commercial development comprising of retail, medical suites and office space; Uptown @ Farrer, a mixed-use development by Low Kheng Huat, which will consist of retail, residential; and a 240-unit serviced residence operated by lyf Farrer Park Singapore.

Mortgage Broker Singapore – Should I use one?

Mr Clemence Lee, Senior Director, JLL, says: “The property was first launched for sale in September 2018 with a guide price of $52 million. Upon the close of the EOI, we received a few offers which fell short of the owner’s expectation. The property was subsequently withdrawn from the market.

With the improving office market in Singapore, we are seeing more investors shift their focus back to the commercial sector. We feel that it is timely to put the property into the market again to offer buyers another chance to reconsider this exceptional opportunity. With the pricing lowered to between $46 to $49 million, we expect strong interest from both investors and owner occupiers who are looking to acquire a centrally-located freehold commercial building in a bustling area undergoing rejuvenation and gentrification.”

The latest transaction in the vicinity is Wanderlust Hotel, which transacted at $37 million or around $2,466 psf on GFA in April 2018. Located opposite 291 Serangoon Road, the entire two-storey commercial podium at Centrium Square transacted at $135 million or around $4,967 psf on strata area in July 2016.

The indicative guide price for 291 Serangoon Road is in the region of $46 to $49 million, which reflects around $2,300 to $2,450 psf on the total area.

As the property sits on land zoned for commercial use, foreigners are eligible to purchase the building. There is also no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) imposed on the purchase of the property.

The property is being marketed through an Expression of Interest exercise, which will close on Thursday, 21 February 2019 at 3pm.

Singapore residential market will see volume and price weaknesses in 2019, DBS Research

Mr Paul Ho, Chief Mortgage Consultant at iCompareLoan, said that despite the property curbs introduced by the Government last year, Singapore is still an attractive residential market for investors.

Although the property market exuberance has been curbed to some extent with the property cooling measures introduced last year, Singapore as a property market investment destination still remains among the top – shoulder to shoulder with other cities in the world like London, New York, Shanghai and Sydney.

“We have to be mindful that there is a lot of excess capital fluidity here and at 1.9 – 2 percent, Singapore has one of the lowest interest rates for home loans in the region,” he added.

The mixed landed development site in the Braddell Heights residential enclave will be especially attractive to investors because of its freehold tenure with redevelopment potential, which is becoming increasingly scarce.

How to Secure the Best Commercial Loans Quickly

iCompareLoan is the best loans portal for commercial loans, buyers, investors and real estate agents alike in Singapore. On iCompareLoan, you will be able to find all the latest news and views, informational guides, bank lending rates and property buying trends, and research data and analysis.

Whether you are looking to buy, sell or refinance apartments, condominiums, executive condos, HDB flats, landed houses or commercial properties, we bring you Singapore’s most comprehensive and up-to-date property news and best home loans trends to facilitate your property buying decisions.

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.

Our trademarked Home Loan Report is Singapore’s first one-of-a-kind analysis platform that provides latest updates of detailed loan packages and helps property agents, financial advisors and mortgage brokers analyse best home loan packages for their clients, so that they may give unbiased home loan/commercial loan analysis for their property buyers and home owners. Our distinguished Panel of Property Agents who are users of our Home Loan report can give the best all-rounded advise to real estate seekers.

All the services of our mortgage consultants are ABSOLUTELY FREE, which means it’s all worth it to secure a loan through us.

Whether it is best home loans, best commercial loans or refinancing of existing loans or SME loans, CONTACT US TODAY!

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