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Singapore Properties & Neighborhoods

Singapore Properties & Neighborhoods

Old Jan 11th 2011, 3:12 pm
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Default Singapore Properties & Neighborhoods

Hi All - I'm currently exploring an exciting opportunity in Singapore and would welcome some insight on housing and neighbourhoods for a family of four.

Having trawled a few expat forums I've noticed that most properties are available for rent but as my opportunity could be long term I may be interested in buying. Is this possible and if so, where are the best locations?

Our boys are 12 & 10 and are sporty so any information on football and basketball clubs would also be welcome.

Many thanks in advance for any consideration that can be offered.
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Old Jan 11th 2011, 11:18 pm
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Default Re: Singapore Properties & Neighborhoods

IIRC not all properties are available to non citizens or non PRs.

Don't remember what is what you'll have to google for that.

But to give you an idea of price, last May we sold a 2 bedroom apartment in a condo, nothing special, well a bit above average for standard of finishes and 1368 square feet area.

We sold it for GBP 800,000.
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Old Jan 12th 2011, 9:01 am
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Default Re: Singapore Properties & Neighborhoods

Originally Posted by ex reg View Post
IIRC not all properties are available to non citizens or non PRs.

Don't remember what is what you'll have to google for that.

But to give you an idea of price, last May we sold a 2 bedroom apartment in a condo, nothing special, well a bit above average for standard of finishes and 1368 square feet area.

We sold it for GBP 800,000.

Thanks Ex Reg, this is very informative. Was your condo in an exclusive part of Singapore?
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Old Jan 12th 2011, 9:46 am
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Default Re: Singapore Properties & Neighborhoods

Originally Posted by Andre Espinet View Post
Thanks Ex Reg, this is very informative. Was your condo in an exclusive part of Singapore?
No.
It was in Tanjong Rhu.

In our opinion a nice area with good access to everywhere.

Dunno exactly but there are probably over 2000 apartments in that area.
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Old Jan 12th 2011, 4:00 pm
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Default Re: Singapore Properties & Neighborhoods

Be very careful buying property in Singapore especially at these levels. If you do make sure you are in it for the very long term. The property market is extremely overvalued and notoriously volatile. Check out the Investment section of Expat Singapore, there are some good discussions on the subject
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Old Jan 12th 2011, 4:34 pm
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Default Re: Singapore Properties & Neighborhoods

Originally Posted by heartofdarkness View Post
Be very careful buying property in Singapore especially at these levels. If you do make sure you are in it for the very long term. The property market is extremely overvalued and notoriously volatile. Check out the Investment section of Expat Singapore, there are some good discussions on the subject
That's good to know. Thank you.
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Old Jan 12th 2011, 5:55 pm
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Default Re: Singapore Properties & Neighborhoods

In terms of Football and Basketball. Singapore American School has great weekend sports programs open to all. They are held at the school in the Woodlands which is northern Singapore..
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Old Jan 17th 2011, 11:52 am
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Default Re: Singapore Properties & Neighborhoods

Originally Posted by heartofdarkness View Post
In terms of Football and Basketball. Singapore American School has great weekend sports programs open to all. They are held at the school in the Woodlands which is northern Singapore..
That's great to know. Many thanks.
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Old Jan 17th 2011, 12:15 pm
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Default Re: Singapore Properties & Neighborhoods

Hi- can anyone clarify this topic for me: I am also interested in buying in Singapore. Are there any legal restrictions on buying a property there since I already own one in the UK (and an outstanding mortgage)? Will I face any obstacles with the banks? ie loaning less LTV because of that?

Also, does anyone know if Singapore banks would even have a way of checking if I had any outstanding mortgages with non-MAS regulated institutions?

thanks!
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Old Jan 17th 2011, 11:43 pm
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Default Re: Singapore Properties & Neighborhoods

Originally Posted by exile_bet View Post
Hi- can anyone clarify this topic for me: I am also interested in buying in Singapore. Are there any legal restrictions on buying a property there since I already own one in the UK (and an outstanding mortgage)? Will I face any obstacles with the banks? ie loaning less LTV because of that?

Also, does anyone know if Singapore banks would even have a way of checking if I had any outstanding mortgages with non-MAS regulated institutions?

thanks!
If you have to ask that type of question on a forum you really don't know enough to invest what would be a lot of cash no matter your financial position.
Over the week end Singapore tightened it's banking and mortgage stuff.

You should investigate more at source and just use a forum for very basic stuff.

IMO.

And if you are considering pulling the wool over MAS you really shouldn't be involved with anything in Singapore.
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Old Jan 18th 2011, 2:34 pm
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Default Re: Singapore Properties & Neighborhoods

Originally Posted by ex reg View Post
If you have to ask that type of question on a forum you really don't know enough to invest what would be a lot of cash no matter your financial position.
Over the week end Singapore tightened it's banking and mortgage stuff.

You should investigate more at source and just use a forum for very basic stuff.

IMO.

And if you are considering pulling the wool over MAS you really shouldn't be involved with anything in Singapore.
The question was pretty basic, hence using the forum, as the guidelines haven't yet been clear to me anywhere else.
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Old Jan 20th 2011, 2:32 am
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Exclamation Re: Singapore Properties & Neighborhoods

The penthouse apartment we are renting is only 2 years old - and the design and build quality is very poor. We get cracks in the walls and ceilings and rainwater seeps through. We've often had to have guys coming in to patch up the cracks and leaks.

I once found some tiny mushrooms growing on a skirting board in our bedroom...

If I were the owner of the property I'd be very unhappy, I'm just relieved that we are tenants and don't have to worry about the maintainance! The problem is that there are badly paid workers brought in from Bangladesh, mainland China etc. and they are working very long hours (they're lucky if they get a Sunday off, they don't get a day off at a nearby construction site and they start at daybreak - 7am and work until 7pm and beyond.) There is too much of a rush to build and I think it leads to a reduction in quality. Our rental apartment must have cost a few million Singapore dollars and I doubt that it was worth it tbh.

It does seem to be the case that anything built 15-20 years ago is slated to be razed to the ground, the whole city is a construction site!
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Old Apr 13th 2011, 10:33 pm
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Default Re: Singapore Properties & Neighborhoods

Where you live in Singapore most often depends on where your children attend school. Some even have residency requiements in the same area and an easy commute for the kids themselves can be quite important.
The nearer Orchard Road the more expenvice property is. Overall Singapore property is a giant bubble (IMHO) but locals will tell you there is little risk of a fall becuse the Gvt won't allow it.
Stamp tax changes have made it necessary for owners/speculators to own property for several years b4 selling so it may well be that MORE property will find its way onto the market.
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Old Apr 22nd 2011, 2:37 pm
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Default Re: Singapore Properties & Neighborhoods

Originally Posted by IanR View Post
Where you live in Singapore most often depends on where your children attend school. Some even have residency requiements in the same area and an easy commute for the kids themselves can be quite important.
The nearer Orchard Road the more expenvice property is. Overall Singapore property is a giant bubble (IMHO) but locals will tell you there is little risk of a fall becuse the Gvt won't allow it.
Stamp tax changes have made it necessary for owners/speculators to own property for several years b4 selling so it may well be that MORE property will find its way onto the market.
Thanks for the insight Ian. It's very helpful
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Old Apr 26th 2011, 8:04 am
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Default Re: Singapore Properties & Neighborhoods

Just to add a bit.
Having sold a property a year ago. see above, no sales were made in our block for the 11 months after our sale.
But last month 4 sales were made all approx 10% up on our sale price and ours was in the best knick of the similar properties that we had seen in the block.

All that on top of the fact that during the last year the Singapore Gov had introduced measures to cool any price rises.
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