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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

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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.

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8 steps for getting out of crippling personal loans debt

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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.

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Parc Botania: A Silent Haven Surrounded By Lush Greenery

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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

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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.

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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.

How to Secure a Home Loan Quickly

Are you planning to invest in properties in Australia 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. We are the experts who do the work for you for free, while you lean back, rest and rely on our professionalism at absolutely no cost to you.

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. 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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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.

Independent mortgage broker – 10 reasons why every homebuyer needs him

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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Personal loans useful to get out of tough financial crunch

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Author: Ravi Philemon

Personal loans useful as one of the most widely chosen options, in case you are in a spot and need some urgent cash. However, personal loans are tricky and you need to know as much as possible about their basics before applying for one.

Personal loans useful but what are some common questions about them?

What is a personal loan?

Personal loan is credit that is granted to the borrower for personal use. These loans are usually unsecured (no security or collateral required/asked) and is based solely on the borrower’s integrity and ability to pay.

If personal loans useful, who is eligible for a personal loan?

The eligibility criteria and their specific details may differ from lender to lender based on their perception of the risks associated with given out personal loans. However, nearly all lenders divide the potential borrowers into three categories:

  • Salaried individuals
  • Self employed individuals
  • Self employed professionals

Other factors which are taken into consideration are, age, residence, work experience, repayment capacity, past obligations and place of work.

What kinds of interest rates are offered on personal loans?

Personal loans are offered in:

  • Fixed rate
  • Floating rate
  • Flat rate

Of the three, flat rates turn out to be the most expensive since the other two are calculated on a reducing balance basis.

What is the average interest rate for personal loans?

The interest rate for a personal loan is decided on the basis of your credit repayment capability and history. Depending on this, interest rates could be anywhere between 18% and 25%, depending on the financial institution.

What documents are required for personal loans?

Personal loans require the least number of documents, making it the fastest to be approved. Typically, financial institutions would require proof of identity, residence, income and also 3 to 6 months of your bank statements. Some banks also require guarantors and the same set of their documents.

How is a personal loan repaid? Is prepayment of a personal loans useful or possible?

Normally, personal loans are offered between 3 to 5 years. The loan is repaid with Equal Monthly Installments. Prepayment is possible but will generally carry a significant prepayment charge.

When getting a personal loan it is important to ask yourself ‘Will I be able to pay it off?’ Some things which can help you pay back your personal loans are:

  • Pay off your credit cards: Try to pay off your credit cards as soon as possible, since credit card debts inadvertently hamper loan payments.
  • Budget your spending: Once you have taken a loan, ensure that you budget your spending, so that if in any unforeseen circumstance you cannot make a monthly payment, your savings will help you out.
  • Personal loans if not utilized and repaid properly, can become a curse in disguise. Make your decisions prudently to ensure a safe financial future.

Most personal loans are granted as unsecured loans. Borrowers don’t necessarily need to have the best credit or even any type of collateral as that is not the primary concern for the providers of these types of loans. Unsecured loans are provided more on good faith and what lenders need to provide are their name, social security and income verification.

If you are in a bit of a pinch and all the doors appear to have closed, you can also consider licensed moneylenders for personal loans. Moneylenders in Singapore have to be registered and licensed with the Registry of Moneylenders. Most moneylenders operate with the goal of offering instant cash loans to Singaporeans, Permanent Residents and foreigners in Singapore. Moneylenders offer fast, hassle-free and efficient services to their clients.

Licensed moneylenders are useful to people who may find it highly challenging to procure a significant amount of money in a short span of time. Licensed moneylenders being providers of non conventional personal loans will simplify your application process thereby making the cash loan more readily available.

personal loans useful

Image credit: Alpha Stock Images

But before you approach a licensed money lender, consider other alternatives, such as the various financial assistance schemes offered by various Government agencies. As you are legally obliged to fulfill any loan contract you enter into with a licensed moneylender, consider whether you are able to abide by the contractual terms, bearing in mind your income and financial obligations.

Borrow only what you need and are able to repay. Be mindful that if you are unable to meet the contractual terms, the late payment fees and interest payment will be a financial strain not just on yourself but also on your family. The law requires moneylenders to explain the terms of a loan to you in a language you understand and to provide you with a copy of the loan contract. Make sure you fully understand the terms of the contract, in particular, the repayment schedule, the interest rate charged and the fees applicable.

Regardless of how much of a financial crunch you are in, you should always shop around different moneylenders for the most favourable terms. You should not rush into and commit yourself to a loan until you are satisfied with the terms and conditions.

But whatever your financial difficulty may be, never, ever borrow from unlicensed money lenders. The loans they offer are predatory in nature, with much higher interest rates, and will entrap you.

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.

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Prime office rents in Singapore recorded the highest increase

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Author: Ravi Philemon

Prime office rents in Singapore recorded the highest year-on-year increase says a recent report by an independent global property consultancy, Knight Frank.

prime office rentsKnight Frank in launching its Asia-Pacific Prime Office Rental Index for Q1 2019, said the index fell 0.4% quarter-on-quarter in Q1 2019 to a reading of 142.6, though it remains up 6.2% year-on-year.

Results for Q1 2019

  • Of the 20 cities tracked by the index, 15 recorded either stable or increased in prime office rents; two less than the 17 reported in the previous quarter.
  • Singapore recorded the highest year-on-year increase in prime office rents at 23.7% in the last quarter, driven in part by limited supply for mid-sized units.
  • Jakarta saw the biggest drop in prime office rents at -16% in the 12 months from Q1 2018 to Q1 2019, continuing its downward trend since Q4 2014.

Nicholas Holt, Head of Research for Asia-Pacific, said, “Prime office markets in Asia-Pacific saw a soft start to 2019, as sentiment continues to be dampened by uncertainties following major elections across the region, an unresolved Brexit and the re-escalation of trade tensions between the US and China. The muted start is likely to carry through the year, with moderate increases in rents compared to 2018.”

Asia-Pacific Prime Office Rents

City Submarket(s) 3-month % change (Q4 2018 – Q1 2019) Forecast next 12 months
Brisbane CBD 0.3% Increase
Melbourne CBD 2.8% Increase
Perth CBD 0.0% Increase
Sydney CBD 1.1% Increase
Tokyo* Central 5 Wards -1.9% Same
Beijing Various -1.4% Decrease
Guangzhou CBD 0.0% Same
Shanghai Puxi, Pudong -2.1% Decrease
Hong Kong Central -1.6% Decrease
Taipei Downtown 1.0% Increase
Seoul CBD, GBD, YBD 0.2% Same
Bengaluru CBD 0.0% Increase
Mumbai BKC 0.1% Increase
NCR Connaught Place 1.4% Same
Phnom Penh City Centre 0.5% Same
Jakarta CBD 0.0% Same
Kuala Lumpur City Centre -0.3% Decrease
Singapore Raffles Place, Marina Bay 1.5% Increase
Bangkok CBD 6.1% Increase
Manila Various 3.5% Decrease

Source: Knight Frank Research / *Sanko Estate

Singapore is a cost-effective premium office location for regional head quarters

The Knight Frank report mirrors another report which said that Singapore prime office rents should continue to outperform the rest of the region in 2019 as a limited supply pipeline and healthy demand raises landlords’ expectations.

M&G Real Estate which released this finding in February this year in its Asia Real Estate Market Outlook report said demand for Singapore prime office is likely to remain positive as the city continues to position itself as a business hub for foreign corporates seeking to establish an APAC or South-East Asian head office.

The M&G Real Estate report said that healthy occupier markets and stable domestic macro fundamentals should continue to attract real estate investment in the region in 2019 despite cyclical, geopolitical and structural challenges.

“Furthermore, most market sector yields are still around 200 basis points above local 10-year government bond yields, providing a sufficient buffer to absorb a rise in interest rates and borrowing costs. Investment momentum is likely to be slower than the previous year, however, as diminishing returns may lengthen the search for investable assets and the underwriting process.”

Pricing for real estate assets may have reached its peak as yield compression across most market sectors plateaus, the report added. It suggested that investors should increasingly focus on income returns and profile in their investment decisions; assets with secure and stable income streams could prove to be more defensive against upcoming macro headwinds.

M&G Real Estate noted that the services sector has seen growth across the five developed APAC economies over the last two years, with the rise of financial and business services, as well as info-communications, media and technology industries.

Coworking has made a lasting impact in real estate industry

Competition for talent in APAC economies has ensured that prime office rents continue to grow in Singapore.

“This has driven demand for office space in the region, particularly prime buildings in the CBD due to competition for talent, as per Australia’s key cities as well as in Singapore. With the services sector expected to continue supporting growth of developed APAC economies, and potentially contributing more towards overall GDP in the medium term, demand for office space is expected to remain healthy overall.”

The report added that demand and supply fundamentals across most office markets in the five developed APAC economies should remain positive in 2019 with vacancy rates below long term averages and future supply relatively moderate. But regional Japanese cities, such as Osaka and Nagoya, are expected to show relatively strong office rental growth in the next 12 months as supply has been slow to respond to growing take-up.

Rising rents in the CBD, coupled with low vacancy, are likely to encourage more occupiers to consider taking up space in fringe sub-markets where costs are lower. But external headwinds remain the key threat to the five developed APAC economies, said the report.

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Whether you are looking for a new commercial loan or refinancing for your commercial properties, our brokers can help you get everything right from calculating mortgage repayment, comparing interest rates, all through to securing the best commercial loans which fits your profile. And the good thing is that all our services are free of charge. So it is all worth it to secure the best commercial loans through us.

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To speak to our Panel of Property agents.

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Funan’s Tree of Life envisions retail woven into its architecture

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Author: Ravi Philemon

Behind Funan’s copper-brass coloured façade along North Bridge Road, a giant “tree” has taken root in the centre of the mall – christened Funan’s Tree of Life, it is ready to support retailers in their storytelling and shelter shoppers taking a break from their exploration. Extending from Basement 2 to Level 4, the 25-metre tall majestic Tree of Life is the design centrepiece of Funan.

Predominantly made of steel, the 25-metre-tall Tree of Life offers spaces for brands to showcase their products and crafts, and for entrepreneurs and design ateliers to conduct classes and workshops.

Visually, Funan’s Tree of Life is the first thing that visitors see when they step into the mall; symbolically, it functions as the source of life to enliven Funan through fostering creativity and curiosity.

Predominantly made of steel, Funan’s Tree of Life houses 20 retail pods for brands to showcase their products and crafts, and for entrepreneurs and design ateliers to conduct classes and workshops. Representing Funan’s commitment to offer differentiated experiences for shoppers, it supports coretailing by providing a platform for brands – both emerging and established – to stage their brand moments with limited period pop-up concepts.

Funan’s Tree of Life is complemented by a variety of creative retailing formats and experiential offerings to keep consumers engaged throughout the day, every day.

Queensway Shopping Centre getting geared-up for en bloc sale

These include W!ld Rice theatre, Golden Village cineplex, TFX fitness centre, Climb Central indoor rock climbing, The Ark futsal facility, ABC Cooking Studio and farm-to-table dining at Japanese restaurant Noka in collaboration with Edible Garden City.

Funan's Tree of Life

Funan’s Tree of Life – The skylight above mimics the growth conditions of a tree in Mother Nature. In a way, the display symbolises the growth and flourishing of retail talents from the creative centre of Funan towards the rest of the city.

Mr Chris Chong, Managing Director, Retail, CapitaLand Singapore, said: “As the retail landscape undergoes disruptions, the formula for a successful mall has to evolve as well. While a decade ago a mall can succeed largely on the merit of its tenant brands, today it must be able to anchor its own community of supporters and followers.

“Consumers of today don’t just buy products or services, they invest their time and effort in understanding brands and supporting relevant causes. Against this backdrop, Funan is CapitaLand’s interpretation of the mall as a platform for meaningful and enriching exchanges beyond the transactional. Its passion-led retail model, as embodied in the Tree of Life, aims to build interactive communities clustered around passion themes covering Chic, Craft, Fit, Play, Taste and Tech.

“Funan’s vision for retail reimagined is woven into its architecture. Designed as an open and inviting space, Funan welcomes consumers from all walks of life looking to expand their perspectives and engage in new activities. It brings together a wide range of passion-led experiences at a scale not seen before in Singapore’s Civic District.

“By incorporating spaces for performance, connection, collaboration and experimentation, Funan creates an exciting environment for shoppers to explore and provides retailers with a dynamic environment to innovate within. Funan also features plenty of green spaces, rest areas and interactive corners to encourage visitors to discover and experience.”

Funan’s Level 7 is home to a 18,000 sq ft Food Garden, where shoppers can experience a variety of edible plants through smell, touch and sight. The heart of the Food Garden is the 5,000 sq ft Urban Farm operated by Edible Garden City. One of the few urban farms in Singapore open to the public, it is designed as a production and functional space where visitors can learn how vegetables are produced and harvested.

A total of 250 tonnes of composite steel – equivalent to the weight of three massive mature rain trees – were used in the construction of Funan’s Tree of Life. The structure deploys long cantilevers, which provide a clear space underneath the beam without any supporting columns or bracing.

Funan obtains Temporary Occupation Permit as it gears up for opening in 2Q 2019

This allows visitors to see through the structure, thereby creating a sense of spaciousness. The Tree of Life is supported by three main columns, from which some intermediate supports branched out. As the floor plan differs at every level, the structure needs to be adjusted and catered to connect with every floor. This makes the planning and construction of the Tree of Life especially challenging.

How to Secure a Commercial Loan Quickly

Are you planning to purchase a prime commercial redevelopment site 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 on your purchase.  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. Our services are also very personalised and tailored to the unique needs of the buyers.

Whether you are looking for a new commercial loan or to refinance and existing one, our brokers can help you get everything right from calculating mortgage repayments, comparing interest rates, all through to securing the final loan. 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 next purchase.

If you need advice on a new commercial loan  or Personal Finance advice.

If you want to speak to our trusted Panel of Property agents.

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