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Singapore REIT Price / NAV Range Chart October-2019

Click on Singapore REIT Price / NAV Range Chart October-2019
for the source.
Author: Marubozu

Singapore REIT Price / NAV Range Chart base on Oct 8,  2019 Singapore REITs Table.

See last Singapore REITs Price/NAV here to see the changes.

 

Disclaimer: This chart is NOT a recommendation to buy or sell. Do NOT use it if you don’t understand how to interpret it.

 

 

Check below on other events:

http://mystocksinvesting.com/course/singapore-reits-investing/REITs Investing Course 

http://mystocksinvesting.com/course/private-portfolio-review/REITs Portfolio Advisory 

http://mystocksinvesting.com/events/

Podcast Ep#37: Finding Gems In The Property Market (Part II)

Click on Podcast Ep#37: Finding Gems In The Property Market (Part II)
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https://i1.wp.com/www.propertysoul.com/wp-content/uploads/2016/12/cropped-heading.jpg?fit=32%2C32&ssl=1 Author: Property Soul

Episode 37 is a recording of the second half of my presentation “Finding Gems In The Property Market” at the SMART Expo on 5 October 2019 at Suntec Singapore Convention & Exhibition Centre. I will touch on the following in Part II of my presentation: 1. When were the two times I was passionate about… [read more]

The post Podcast Ep#37: Finding Gems In The Property Market (Part II) appeared first on Property Soul.

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3 Orchard By-The-Park – The Epitome of Luxurious Living

Click on 3 Orchard By-The-Park – The Epitome of Luxurious Living
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Author: iCompareLoan Editorial Team

Image Credits: 3 Orchard By-The-Park, YTL Westwood Properties Pte Ltd

The 3 Orchard By-The-Park is a project that defines the true essence of luxurious living. Located at the heart of one of Singapore’s most prestigious districts, the property consists of 77 Exclusive Apartments, providing you with a wide array of choices to befit your status and lifestyle. You can choose between 2-bedroom, 3-bedroom, and 4-bedroom units, depending on your needs and preferences.

Our new property launch provides aspiring homeowners with a chance to view the finest work of architecture by renowned Italian designer Antonio Citterio. The condominiums consist of a blend of highly advanced designs, premium fittings, and contemporary finishes, delivering the kind of sophisticated living everyone yearns for.

Why choose 3 Orchard By-The-Park

A visit to 3 Orchard By-The-Park will leave you in awe, thanks to the stunning elegance this residential project has to offer. You will encounter well-maintained, lush greeneries right from the entrance lane to the building. What’s more, is that the property is situated away from the crowded areas of Orchard Road guaranteeing residents, the serenity and tranquility that they truly deserve.

Here are some of the reasons you should choose 3 Orchard By-The-Park as your next home:

– Prime Location

3 Orchard By-The-Park is located at the heart of Orchard Boulevard, which is widely regarded as one of the most prestigious regions in Singapore. The district boasts of iconic retail destinations, and some of the finest names in the hotel industry. As if that is not enough, the 3 Orchard By-The-Park is just a stone throw away from the Singapore Botanic Gardens, which is a UNESCO World Heritage Site.

– Accessibility

One of the major highlights about 3 Orchard By-The-Park is that it is easily accessible. The property connects to a well-defined transport network that includes several major highways and public roads, with at least two taxi stands and eighteen bus stops in the proximity. Moreover, the area has several MRT stations, including the Boulevard MRT Station that is a stroll away from the development.

– Design and Architecture

Every inch of the 3 Orchard By-The-Park is a masterpiece. The architectural design of the project is the work of renowned Italian designer and architect, Antonio Citterio. The units consist of exquisite interiors handcrafted using elegant majesty wood and other superior materials that bear the mark of excellence.

– Amenities and Attractions

3 Orchard By-The-Park is close to a number of malls, banks, schools, cinemas, restaurants, hospitals and retail outlets. These amenities are ideal for shopping, banking, dining, and other entertainment activities.

Moreover, the property is strategically located to some of the best attractions and historical landmarks that Singapore has to offer. One notable spot is the Fort Canning Park which is renowned for its unusual plants and walking trails.

– Facilities

The residential park offers its residents a wide range of private facilities for the ultimate fine living. Residents can gain access to the clubhouse that consists of various function rooms ideal for recreational activities and social gatherings. The property also has a huge playground ideal for hosting multiple sports events for kids as well as adults.

– Green Living

The developers of 3 Orchard By-The-Park care about the environment as suggested by their commitment to embracing sustainable luxury living using various green technologies.

– Financing Options

Units at the 3 Orchard By-The-Park are available at different price tags to fit budget and resources. Moreover, you have the option to buy or rent a home, depending on your needs. Aspiring homeowners can also access a wide range of financing options. If you compare Singapore housing loans, you will discern that 3 Orchard By-The-Park is available at one of the best rates in the market.

Register your interest

Buying property is a long-term investment that requires some thought into it to make the right choices. Essentially, you must consider factors such as floor plans, location, proximity to amenities, and the price range, among others. This will ensure that you select the ideal home that fits your style, taste, and preferences.

With the official launch of the 3 Orchard By-The-Park looming, you do not have to wait to find the perfect home for your family. Call iCompareLoan mortgage broker today to compare home loan Singapore and find the most suitable loan to fund your dream home!

For advice on a new home loan.

For refinancing advice.

Download this article here.

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Getting business loan – 5 steps to secure one

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for the source.
Author: Ravi Philemon

Getting business loan may become that much more easier with an economy that is on the mend.

By: Hitesh Khan/

In Dec 2018, Forbes ranked Singapore as number 8 in the best countries for business. In 2017, Singapore was ranked as the world’s second most open economy by the Heritage Foundation’s Index of Economic Freedom, as well as the world’s second most pro-business regime by the World Bank’s Doing Business report.

Prime Minister Lee Hsien Loong  recently said the Republic’s economy is doing well and that the productivity has been high. He added that the economy was not just expanding but also is upgrading and improving. As the economy recovers, small businesses that want to expand are going to need capital.

Getting business loan, though, always works better if you lay the groundwork in advance.

Here are suggestions on how to get a business loan.

1. Establish a relationship

If possible, get to know your business banker now, before you need financing. This will give your banker an opportunity to get to know you and your business, how you think, what your goals are, what the financial situation of your business is.

getting business loan

image credit: Alpha Stock Images

Building a relationship with the lender you are currently working with can help them get to know the intricacies of how you operate your business. They want to know who your customers are, who your vendors are, and what’s going on in your industry. If they can measure different kinds of health and stability indicators for your business, they might be more likely to renew your financing at a lower rate down the line, or graduate you to a better product.

Letting the lender understand your business can only help you out. But if you aren’t open to building a relationship with your lender, then it may be best to work with a reliable loan specialist who may have established relationship with the many lenders in Singapore.

And the best news is, the services of an independent loan specialist is often free. For starters, you should read up more so that you have some basic understanding of how an independent loan specialist can help you in your search for the right loan.

2. Develop a plan

Lenders like to see an owner with a business plan. The business owner needs to show why the business will be successful before getting business loan.

And they should have projections to show that they’ve thought about what kinds of revenues and costs they’re going to generate.” In other words, a business plan clarifies why you need the money, how much you need and how you will repay it.

Overdraft facility is useful for business growth and expansion

3. Be prepared

The documents required will be determined by the type and amount of credit you need. It may be as simple as a single-page application for a business credit card, or it may require business and personal tax returns, and financial statements.

It is good to understand the legal jargon in that stack of papers you will have to sign before the small business loan is disbursed. A close look at those documents now could save you a lot of headaches later. Be mindful that your bargaining power over your small business loan vanishes completely after you’ve signed the documents.

The small business loan documents could be a bit overwhelming, but with the help of a lawyer of an independent loan specialist, you can get a full understanding of what the legalese means. In fact, many independent loan specialist encourage loan applicants to understand the loan documents before they even complete a formal application for a loan.

Generally, it’s a good idea to get the loan documents ahead of time so you have a chance to review them for a couple of days before getting business loan. Most lenders won’t have a problem sending advance copies of the documents, but they will generally only do so if they’re specifically asked.

The documents can be somewhat complex – which is why you may need an independent loan specialist to help you understand what the fine print means.

Close look at small business loan documents now could save you headaches later

4. Make Choices

There are many loans in the market for small business owners and not all products may be the best fit for your business. What’s worse is, taking an unsuitable loan could be a huge setback to you personally, as well as to your business. So, an important factor is, work with your lender to determine the type of loan that fits your needs.

5. Think Long-term

Along with your company secretary your lender should become one of your trusted advisers. The relationship should not end once you have gotten your loan. As your business grows and your needs change, you should allow your lender to provide recommendations on other services, such as additional credit, cash management, merchant services, and retirement and succession planning.

Before getting business loan though, you need to talk to loan consultants. They can set you up on a path that can get you a it in a quick and seamless manner. 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. You should also get yourself up to speed by reading up on some money saving tips.

Affordability Tools are also an important tool if you are considering to buy a property to house your business. Calculators especially, come in handy to help you ascertain the fair value of a property and find properties below market value in Singapore. You will also do good to find out more about Peer to peer lending versus that of SME loans so as to make an informed decision.

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Office market rental hike faces resistance as tenants seek ‘flight to value’

Click on Office market rental hike faces resistance as tenants seek ‘flight to value’
for the source.
Author: Ravi Philemon

Office market rental hike to face resistance as flexible workspace sector continue to drive space take-up in Q3 2019

  • Office market rental hike faces resistance as CBD Grade A office rents grew at a slower pace, rising 1.5% in Q3 from Q2 2019
  • ‘Flight to value’ observed as tenants resist office market rental hike
  • Flexible workspace sector continued to drive space takeup in Q3 2019
  • Rental growth expected to slow amid weaker economic outlook; shadow space could potentially emerge

Colliers International today published its latest research report which tracks the performance of the office property market in Singapore in Q3 2019 and its outlook ahead.

Office market rental hike

Office market rental hike faces resistance (Image credit: Colliers International)

Office market rental hike faces resistance

Colliers Research noted that there are signs that tenants are resisting further hikes in rents following nine consecutive quarters of increase in Grade A office rents in the central business district (CBD). Cumulatively, CBD Grade A office rent has risen by 27% since Q2 2017, driven in part by tightening supply.

Given the weaker economic outlook, Colliers Research expects occupiers to exercise more caution with regards to their space needs and real estate cost. This could potentially curtail any further sharp increases in office rents in the coming quarters.

Tricia Song, Head of Research for Singapore, Colliers International, said, “We are starting to see ‘flight to value’ in the market where some tenants eschewed higher lease renewal rate and opted to relocate to another building with a lower rent. Whether this trend would become more widespread will depend on market dynamics and the state of the economy. Broadly, we expect rental growth to continue to slow in line with a slower economic growth. Some trade sectors may have already felt some pressure. We may see some shadow space emerge from large occupiers, such as financial institutions.”

Rents
Based on data tracked by Colliers Research, average Grade A office rents in the CBD rose by 1.5% quarter-on-quarter (QOQ) to SGD10.08 per square foot per month (psf pm) in Q3 2019, slower than the 3.0% increase achieved in the previous quarter. On a year-on-year (YOY) basis, average CBD Grade A office rents in Singapore grew by 9.6% in Q3 2019.

In Q3 2019, Grade A office rental growth was the strongest in the Shenton Way/ Tanjong Pagar and Raffles Place/New Downtown Premium micro-markets, driven by tight vacancies and new builds. Meanwhile, office rents at Raffles Place/New Downtown Grade A micro-market – which comprises of older buildings – were flat QOQ, narrowing the gap between rents for this sub-segment and that of Shenton Way.

For the full year 2019, Colliers Research projects that overall CBD Grade A office rents should grow by 8%, moderating from the strong 15% rise in 2018. It forecasts rents to continue to growth at a slower pace of 5% in 2020.

“We expect new CBD Grade A supply to remain limited in 2019-2021, averaging 678,000 sq feet (63,000 sq metres) p.a. This should keep CBD Grade A vacancy tight, below the 10-year average of 6.3%. We expect CBD Grade A office rents to grow 8% in 2019 and 5% in 2020, moderating from a strong 15% in 2018.”

Demand, supply and vacancies
The flexible workspace sector continues to drive takeup with WeWork reportedly due to lease the entire building at 21 Collyer Quay (formerly HSBC Building) in Q2 2021 after HSBC moves out. Meanwhile, East Japan Railway Company (JR East) opened a coworking space at Twenty Anson taking 13,000 sq feet (1,200 sq metres).

“In 2019, we expect CBD Grade A net absorption to be driven mainly by expansion in the technology and flexible workspace sectors. In 2020, we expect demand to be more broad-based.”

Rick Thomas, Head of Occupier Services in Singapore, Colliers International, said, “The flexible workspace sector remains a key driver of demand for office space and it now accounts for about 5% of CBD Grade A space in Singapore. We are positive on the sector’s prospects as it provides more flexibility to occupiers and offers an alternative real estate solution amid rising uncertainty in the business environment. While we believe the flexible workspace sector will continue to grow, the tight availability of space may limit its growth to some extent.”

Colliers Research observed that the supply of new CBD Grade A office space will remain limited in 2019-2021, averaging 678,000 sq feet (63,000 sq metres) per annum. This should keep CBD Grade A vacancy tight, below the 10-year average of 6.3%. The next major supply hike (about 7% of stock) is due to come onstream in 2022.

” In 2020, we forecast a slower rental growth of 5%, in line with slower economic growth.”

Investment market
In Q3 2019, transactions remained robust and rose 11.9% QOQ even with a strong Q2 2019. The transaction volume of SGD2.91 billion in the quarter brought rolling 12-month volumes of office and mixed-use commercial transactions to SGD8.71 billion (+23% QOQ).

The notable transactions in the quarter included: DUO Tower and DUO Galleria; 71 Robinson Road; and Anson House. Colliers Research noted that the unveiling of development plans for Greater Southern Waterfront – during the National Day Rally on 18 August – likely boosted investor sentiment in the Shenton Way/Tanjong Pagar micro-market where 71 Robinson Road and Anson House are located.

With optimistic valuations achieved in major transactions in Q3 2019, the average imputed capital value of CBD Grade A office properties rose 0.7% QOQ to SGD2,512 psf. Meanwhile, the cap rates remained unchanged in the quarter at between 3.15% and 3.5% on average.

“We expect yields to compress in 2019 on a favorable interest rate outlook and the large capital allocation to Singapore. We recommend occupiers, particularly those requiring large contiguous space, to review and explore lease options early.”

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Podcast Ep#36: Finding Gems In The Property Market (Part I)

Click on Podcast Ep#36: Finding Gems In The Property Market (Part I)
for the source.
https://i1.wp.com/www.propertysoul.com/wp-content/uploads/2016/12/cropped-heading.jpg?fit=32%2C32&ssl=1 Author: Property Soul

Episode 36 is a recording of the first part of my presentation “Finding Gems In The Property Market” at the SMART Expo on 5 October 2019 at Suntec Singapore Convention & Exhibition Centre. I will touch on the following in Part I of my presentation: 1. Why are there so many gems in a soft… [read more]

The post Podcast Ep#36: Finding Gems In The Property Market (Part I) appeared first on Property Soul.

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Millennial property consumers will define real estate landscape in 2030

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Author: Ravi Philemon

Millennial property consumers will play a major role in influencing investors and occupiers’ real estate decisions

Launched today at CBRE Symposium: The Singapore Journey, CBRE’s flagship thought leadership offering, Real Estate 2030 – Singapore, examines how our living and work spaces will transform over the next 10 years, driven by five major structural changes – demographics, infrastructure, occupier trends, sustainability and technology. The report explores how these changes will impact real estate investors and occupiers who will have to stay nimble and start preparing for these fundamental shifts.

Mr Moray Armstrong, Managing Director of CBRE Singapore, said, “The Singapore government continues to demonstrate vision and creativity in its approach to urban planning. This is fundamental to supporting long term economic growth, developing new growth areas and sectors, while helping to transform existing industries. Real estate investors and occupiers will face rapid changes in the market over the next decade. Changing demographics, infrastructure investment and technology advancements will present both challenges and opportunities for real estate players.”

Millennial property consumers are defined loosely as those born between the early 1980s to the mid 1990s, are projected to form the largest consumer group in Singapore by 2030, as they reach their prime working and spending years.

Mr Desmond Sim, Head of Research, Southeast Asia, CBRE, commented, “While technological innovations have continuously redefined the real estate landscape, by 2030, millennials will also play a major role influencing investors and occupiers’ real estate decisions. They will be the driving force behind the sharing economy where co-living and co-working are expected to be prevalent. Meanwhile, there will be more decentralized office stock; and in 10 years’ time, occupiers will have to adopt workplace strategies to cater to a five-generation workforce.”

Report highlights:

1. Demographics shifts to affect the fundamental demand for real estate

Millennial property consumers possess a particular set of values which are unique from other generations; one of these is the ability to be highly adaptive and more willing to share facilities and services.

  • Home sizes for private housing have been declining – from 103 square meters in 2008 to 70 square meters in 2018. This is partly due to rising land costs which have induced developers to reduce unit sizes in a bid to keep overall prices affordable.
  • Nonetheless, this may not necessarily translate to smaller living space per person due to shrinking household sizes, lifestyle changes, digitization and better space optimization. Living space per person has remained at about 28 square meters based on an average five-room HDB flat for the past two decades.
  • Given that Singapore’s population is greying at a faster pace than a decade ago, there are schemes to help the elderly plan for retirement. This, in turn, could result in more residential sites of shorter tenures which would provide buyers and developers with more options.
  • Millennial property consumers, who will form the largest consumer group by 2030, are highly adaptative, more willing to share facilities and services, and place more importance in seeking experiences.  They will help drive the sharing economy and influence how developers and landlords make decisions.

Millennial property consumers also place more importance in seeking experiences, influencing how retailers and landlords shape the shopping experience.

millennial property consumers

Millennial property consumers are projected to form the largest consumer group by 2030, as they reach their prime working and spending years.

2. Infrastructure to pave the way for growth

  • Satellite strategic gateways (Jurong Innovation District, Punggol Digital District, Agri-Food Innovation Park, Changi Aviation Park and Tuas Mega Port) which possess their own unique propositions will encourage commercial growth outside the city and help to support innovation in various niche industries such as high-tech manufacturing.
  • Infrastructure, such as storage facilities, if moved underground, can free up extensive tracts of land. Singapore has made good progress in tapping underground spaces and such space exploration will continue in the future to ensure that as more areas are freed up, land plots of higher value are preserved.
  • Two current major challenges pertaining to the last mile in Singapore are unconsolidated deliveries and high delivery failure rates. The future of retail could see fulfilment centres moving closer to homes, increasing the overall efficacy of last-mile delivery. One viable option is for fulfilment centres to be located in residential precincts (for example, Marsiling, Aljunied and Ang Mo Kio), given the availability of industrial land parcels in these areas.
  • Guided by the 20-minute town and 45-minute city vision, the expansion of the MRT network will result in increased connectivity, resulting in the narrowing of real estate premiums between the central and fringe areas.

Millennial property consumers will help to drive the sharing economy and influence how developers and landlords make decisions.

3. Occupier trends that will shape Singapore real estate in 2030

  • Decentralization efforts are set to continue on a larger and wider scale, supported by improvement in infrastructure and accessibility. The portion of decentralised offices has grown from 17% in 1998 to 24% of total islandwide stock as of end 2018. This is expected to increase to 30% by 2030.
  • There will be a wider acceptance of the sharing economy which will result in an asset light society. Each car sharing could reduce the number of vehicles by an estimated four cars, which could also reduce up to 15%-20% of building space previously used for roads and parking. The rise of co-living will also reduce the demand for three additional housing units for every home share.
  • As at June 2019, approximately two in five of all office buildings tracked by CBRE Research has some flexible office component. By 2030, at least three out of five such buildings will have a flexible office component.
  • Technology will be more widely used to create a convenient and seamless in-store retail experience. By 2030, stores will likely be equipped with artificial intelligence, sensors, self check-out stations, cameras and mobile devices. All items will have a RFID tag which can provide real-time inventory information to retailers who can then better manage inventory and reduce the amount of space needed for in-store warehousing.
  • Co-retailing, which offers shareable spaces and community-based experiences between retailers and customers, will be on the rise. This will benefit entrepreneurs and start-ups who have smaller size requirements and may not be able to afford prime retail spaces.
  • By 2030, Singapore will see a five-generation or 5G workforce comprising baby boomers, Generation X, Millennials, Generation Z and Post-Generation Z. Occupiers will have to strike a balance in their workplace strategies to meet the differing needs of these generations.

4. Sustainability continues to be a growing part of corporate agendas

  • According to the Building and Construction Authority, it is expected that at least 80% of buildings (gross floor area) will be certified green. Some developers have pushed out green leases where landlords share energy consumption data with tenants, with the aim of achieving a lower energy consumption rate collectively. While such green leases are not yet prevalent today, CBRE expects such leases to be more common by 2030.
  • Property developers are increasingly looking towards green financing as an additional source of capital. This includes any form of financing linked to environmental, social and corporate governance metrics such as green bonds, green loans and sustainability-linked loans.
  • Driven by the state’s ’30-by-30’ vision to produce 30% of our food locally by 2030, developers will realise the value of converting under-used or alternative spaces for food gardening; urban farming will eventually be integrated into real estate.

5. Technology will be integral to the built environment

  • On the back of widespread adoption and pervasiveness of cloud technologies, companies no longer need space for servers nor maintenance staff onsite. This reduces the need for commercial spaces, while increasing the demand for data centres as cloud storage.
  • The rollout of 5G in Singapore will provide economic growth drivers by enhancing what industries can do with mobile connectivity, as well as give significant competitive advantages for applications with high bandwidth requirements. Specific to real estate, improved connectivity will help facilitate
    communication between teams and promote flexible or remote working.
  • As the amount of big data increases, data storage and computing power facilities will have to keep up. However, with the introduction of stronger networks like 5G, data will increasingly be propagated from data centres and the cloud into mobile or edge devices. This trend, known as edge AI, will enable real-time decision making for applications such as autonomous logistics and predictive maintenance.

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Boost home value and valuation with the right kind of renovations

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Author: Ravi Philemon

Improve is the mantra of our times, but not all home improvements will boost home value.

By: Hitesh Khan/

We are constantly assailed with advice about what to do to boost home value, but what changes push prices down and make a property less attractive to a future would-be buyer?

The answer? According to some leading property agents, it’s bad news for you if you have just turned your home into an open-plan space with a flash kitchen and a converted your toilet to have a gaudy jacuzzi.

Professional appraisers surveyed agree that kitchen remodeling is the best kind of home improvement which will boost home value.

Remodeling the kitchen provides an average payback of 72 per cent. What if you don’t want to spend tens of thousands of dollars to remodel? Try some lower-cost quick fixes such as updating the lighting, replacing the cabinet doorknobs, or installing new counter tops. The payback will be lower, of course, but it might just tide your kitchen over until you’re ready for a major overhaul.

Your kitchen is probably the most used room in your house. Poor layout, inadequate lighting, cramped spaces, outdated fixtures and old cabinetry are common complaints of homeowners. Before you decide to go ahead with a kitchen renovation, it is important to clearly identify the features you want in your new kitchen. Just as important is a thorough pre-renovation inspection to identify any existing problems.

If you are trying to make a quick profit from the sale of your home, remember that dodgy decorations do very little to boost home value.

Decorations that reflect the eccentricities of the owner can be a turn-off for buyers, which is why estate agents and house doctors say “de-cluttering” and a large tin of neutral-coloured paint tend to maximise the appeal of a property going on the market.

Purchasers look for quality – not necessarily gimmicky improvements, but high-quality finishes. Neutral ivory or white in a classic modern or period style is always the safest bet. Owners preparing to sell should remember most buyers make near-instant decisions about a home.

boost home value

Image: Megapixel

So, another good way to boost home value is to be selective about your painting.

Painting – Sprucing up the walls and ceilings with a coat of fresh paint can be one of the best uses of your renovation dollars with an average potential payback of 73 per cent. A new paint job leaves a good overall impression. And it’s one of the easier do-it-yourself jobs that can save or eliminate labor costs. Experts advise selecting colors that are neutral or in keeping with today’s styles.

Interior Painting and Decorating – One of the best ways to make your home more comfortable, healthier and less expensive to operate is to upgrade the cooling and ventilation systems. Energy-efficient equipment upgrades can be expensive, but can be offset by lower operating costs.

Mechanical upgrades – Before you decide to upgrade mechanical equipment, it’s also critical to understand how the overall performance of the house will be affected. Keep in mind that your lifestyle, the number of occupants and their age all have an impact on the performance of mechanical systems. This type of upgrade will require professionals to do it right and to avoid causing other problems in the house. It’s important to weigh the benefits against the costs.

When planning your home renovation, remember that the house is much more than just four walls and a roof – it’s an interactive system made up of many components including the basic structure, ventilating and air conditioning equipment, the external environment and the occupants. Each component influences the performance of the entire system. A renovation provides an opportunity to improve how your house performs.

The Bathroom. This is right up there in the value-for-money area with a payback of 68 percent for a full renovation. Experts suggest updating the look, but keeping the fixtures neutral. Quick fixes for a lower payback: install an updated mirror, medicine cabinet, or vanity. New lighting can also work wonders.

Flooring Upgrades. Attractive floors add value, with an average potential payback of 62 percent according to the survey of professional appraisers. But experts caution that this payback could be reduced if potential buyers prefer carpeting, rather than hardwood floors, for example. If you’ve got wood floors, refinishing them could bring new life.

Knowing how to calculate the property valuation is of paramount importance to any owner wanting to boost home value. It can help you determine whether you are overpaying for a home, or whether you have gotten yourself a real bargain. Paying the right price is just one way you can avoid overspending on your property.

If you are considering a home renovation, make sure you research your project carefully to ensure you are making a wise financial decision and getting the biggest bang for the buck. Not all home renovation is what they are cracked up to be. When deciding what type of renovation to undertake and how much to spend, consider the payback on your investment.

If you are thinking of selling your property, you don’t need to splash out on expensive renovations. At most times, you just have to stay practical and functional to boost home value. It’s the fundamental question facing anyone who has ever embarked on a home renovation – “how likely am I to get the money back when I sell my house?” There’s no easy answer if you can get your money back, because what a buyer might be willing to pay depends on many factors — everything from the choice of project to the materials you use to the value of other homes in your neighborhood.

The post Boost home value and valuation with the right kind of renovations appeared first on iCompareLoan Resources.

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Mortgage default rises in Singapore as economy slows

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Author: Ravi Philemon

In what is perhaps another sign of a slowing economy, the number of mortgage default cases in the Singapore has seen a significant uptick, according to a report by the South China Morning Post (SCMP)According to the Credit Bureau Singapore, there have been 79 cases of mortgage default cases from January to July of this year.

mortgage default

Mortgage default cases on the rise (Image credit: Wikimedia Commons)

In 2015 mortgage default cases were lower in that there were only 65 cases for the whole year. In 2017, there were 112, and last year, 156.

Moreover, according to Colliers International Singapore, mortgagee sales were up to 213 for the first six months of 2019. In all of 2018, there were only 258 such cases in total, while five years ago, the number of mortgagee sales was only at 123 cases, although data from Colliers includes homes that have been re-listed.

Experts are saying that the number of mortgagee sales could be a sign that the economy is stagnant. The SCMP quotes Chua Hak Bin, an economist with Maybank, as saying, “Bankruptcies are also rising, in line with the mortgagee sales, as the economy grinds to a standstill.”

This year there have been 1,847 applications for bankruptcy in the first six months alone. In 2017 there were 2,932, and in 2018, 3,079. Two months ago, the GDP growth forecast for 2019 was downgraded to 0.0-1.0 percent.

Additionally, houses offered in auctions are not moving quickly, with numbers of houses sold declining from 6.4 percent in the first quarter of 2018, to 1.4 percent in the same time frame this year, according to Knight Frank, a real-estate consultancy.

Director of research and consultancy at Suntec Real Estate Consultants Colin Tan calls the mortgage default cases “a slow death,” and points our that foreclosure on properties is usually a bank’s last resort, as most financial institutions choose to restructure loans or give clients leeway in paying only interest for a short time period.

Mr Tan said,“If you can pay the interest, you’re not in default. But these people can’t even service the interest. It’s a reflection that the economy is not so good that you’re seeing more and more defaults.”

According to industry experts, the rise in number of mortgage defaulters can be attributed to higher unemployment, a slower economy, a smaller number of buyers, as well as a shortage of tenants for properties bought by investors.

For this year, the sector that saw the highest number of retrenchments are the professionals, managers, executives and technicians (PMETs), who make up over three quarters of those retrenched in the second quarter of the year.

However, in spite of signs of a declining economy, there seems to be continued growth in the number of private homes being constructed, with 24,000 vacant units and another 44,000 planned to be built.

A report in early June said that there are 24,000 private housing units that are empty. Additionally there are 44,000 private housing units in the pipeline, made up of 39,000 unsold units from GLS plus another 5,000 units from sites pending planning approval.

The Ministry of National Development (MND) made an announcement on June 6, Thursday, that five confirmed list sites and eight reserve list sites yielding around 6,430 private homes, 92,000 sq m gross floor area (GFA) of commercial space and 1,100 hotel rooms had been released.

While the first half of the year’s GLS programme had 2,025 units of private homes from confirmed list sites, for the second half there were only 1,715 units, which is a reduction of 15 percent. To address the problem of mortgage defaulting, the Credit Bureau urged would-be homeowners to plan their finances well.

A spokesperson from the Bureau said, “Singapore is a country that is constantly growing, and so is her population. Therefore, housing is constantly in demand and on the rise, which means that more and more people will take real-estate loans.

We strongly advise all consumers to plan their finances in advance, in order to prevent defaulting on their repayments to lenders later on.”

CBS said earlier in January that seven months after the Monetary Authority of Singapore (MAS) announced the latest housing curbs on property purchases, buyers are taking up lesser mortgage loans. The CBS study follows the recent guidelines by MAS in July last year, with the raise in Additional Buyer’s Stamp Duty (ABSD) rates and tightening of Loan-ToValue (LTV) limits on residential property purchases.

The ABSD rates for Singapore Citizens and Singapore Permanent Residents (SPR) purchasing their second and subsequent residential property were raised by 5 per cent for all individuals and 10 per cent for entities. LTV limits were tightened by 5 per cent for all housing loans granted by financial institutions.

Statistics based on new mortgage loan applications show that in December 2018, there were 4,423 new applications. This represents a 64.9 per cent decline from 12,619 applications in July 2018 and a 54.0 per cent decline from 9,611 applications in December 2017.

CBS is Singapore’s consumer credit bureau which provides objective and accurate information to credit providers in the financial services industry to strengthen their risk assessment capabilities. By enabling clients such as banks, credit card companies and institutions to make better lending decisions, CBS aims to enhance Singapore’s risk management capability.

As the leader in managing consumer credit information, CBS also seeks to enlighten, empower and engage consumers to manage and protect their financial health. CBS maintains data accuracy and integrity by using advanced technology to update millions of consumer information.

Throughout its operations, CBS observes a strict Code of Conduct that its members comply with. This ensures the highest moral and ethical standards in data handling in all business activities. Established in 2002, it is a joint venture between The Association of Banks in Singapore (ABS) and Infocredit Holdings Pte Ltd.

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