Finding your dream home
OUE Twin Peaks
33 Leonie Hill Road
The only luxury condo for sale in Orchard that offers lower entry price for you to enter into this segment. Take advantage of up to 3 years deferred payment scheme that is offered by 2 condo projects.
Close To MRT
Selling below replacement cost
Buying Condo for Sale in Singapore
Condo for sale in Singapore offers you an excellent opportunity to own or invest in property locally that had shown outstanding performance over the years. Condos are the property of choice for many aspiring Singaporeans especially those who wish to growth their wealth. With the high numbers of projects TOP over next few years, present both opportunities and challenging times ahead.
Buying a condo for sale in Singapore involves several steps. First, you must look into your financial situation, then search for the property that fits your current or investment needs. Which follows by the need to consider several factors that will affect the future pricing of the unit and get into the negotiation stage where you will try to get the best price. You would then passing the option to purchase (OTP) to the conveyancing lawyer upon the right price met and down to find the right tenant as well as managing them during their course of stay. The list just goes on.
Take a look at how to buy a condo for sale in Singapore.
Finances and Government Policies
First and foremost, your finances must be in good shape so that bank will loan you and you can fund the mortgage when it comes to buying condos. The overriding principle governing your options is the Total Debt Servicing Ratio (TDSR) in Singapore. The government’s cooling measures TDSR policy states you can only have debts up to 60 percent of your gross monthly income. For example, if you make $10,000 per month, your total debts cannot exceed $6,000 in monthly payments. Debts include car loans, any property loans and credit cards outstanding including overdraft.
The purpose of TDSR is to strengthen the financial position of banks further. TDSR tries to ensure that property owners are more prudent when comes to purchasing of real estates. If you think these government policies are way too confusing, Dylan Tan is a real estate salesperson who knows how to guide you through these complex regulations. He will assist you in comprehensive financing planning on your purchase before showing you to the bankers.
Other financial considerations come into play. Your credit must be high enough, and banks perform a stress test on your finances before agreeing to a loan. Investors may even have a choice to go with a deferred payment scheme on selected projects where you pay 20 percent up front and settle the remainder 80% within the next three years.
Dylan can show you how the deferred payment scheme works in your favour and which developers offer this incentive because not every developer has a deferred payment scheme with the same offer. Note all developers offer with little or not limitation.
Once you determine your financial strength, it is time to start searching for your ideal condo. With property prices bottoming out in the Singapore real estate market, now has never been a better time to buy a condo for sale in Singapore.
Types of Condos
Singapore has a few different types of condos for sale. In general, condos offer common facilities, such as a swimming pool, tennis court, workout gym, function room and 24/7 security. Your unit size may range from one to three bedrooms or more. Prices vary based on the level, the facing (whether premium), the tenure of the project, land size and most importantly the location of the project.
Executive Condos in Singapore is a hybrid of the public and private housing. These types of homes are ideal for those who can afford more than a BTO and household income not exceeding $14,000 per month. As the housing market stands right now, executive condos are $200 to $300 per square foot cheaper than other condos while providing the same types of amenities.
The only setback is that EC still needs to comply with HDB regulation till the MOP period. However, it proves to be assert that had seen more than 100% appreciation in the last ten years if you had brought the right project. These properties cater to the sandwich class, or middle class, in Singapore. There are even other types of private real estate geared towards the sandwich class.
Mass-market condos outside core central region had the standard condo facilities and located in the outlying suburbs of Singapore. Think places like District 19 and District 27, where condos are hot property choices. The amenities here aren’t as luxurious as condos in the CCR, but they do provide residents with an opportunity to own private property at a much affordable rate.
Mid-market condos in rest of core central region have what mass market condo has except that located nearer to the CBD. However, the amenities still aren’t as posh as luxury high-rises. Places like Upper Bukit Timah, Newton, East Coast, and Novena are some of the mid-market condos. Projects such as Costa Rhu and Pebble Bay has units that offer unblocked sea view.
Luxury condo in core central region, typically found in Districts 9, 10 and 11 where is located in the heart of the city. Such luxury condo has similar or even better condo facilities with some comes with resort themes, a concierge service, perhaps a private lift lobby dedicated to your unit and even with the 270-degree unblock city. Newer condos, such as OUE Twin Peaks, have rare entry level price ranging from $1.5 million for a one-bedroom and about $5 million for a three-bedroom unit. Moreover, most interestingly the developer fully furnished it and sold it.
So far are you overwhelmed by the various types of condos and options; Dylan will advise you on which type suit your portfolio best and has the highest potential upside for your purchase. The research will be done for you to determine the best entry price and why that project is a good buy.
The facing of a condo has a bearing on the price, so does the level of the floor, proximity to the amenities and many other considerations. Even for projects under construction offer different opportunities for your investment. If it all sounds confusing, let an expert ease your mind about buying private property in Singapore hassle free way.
With so many options and lower prices, you should start to investigate condos for sale in Singapore. Dylan knows which condo for sale has the best potential for your portfolio, which ones are popular and which ones have a fair price.
Why Buy Now?
Private developers are facing the deadline of qualifying certificate and ABSD; many are taking proactive action to reduce prices to clear their inventories. Some projects are selling below replacement cost, or at launch prices, you potentially will benefit from today’s market if you were to buy now.
Talk to Dylan about your property ownership goals and he can point you condo for sale suit your portfolio best. Are you looking to live in the CCR or would prefer a mass market condo, there are plenty of condos for sale in Singapore. Dylan can explain the complexities of what your finances must show and the kinds of properties available that best fit your goal. He can be your guide from your first inquiry up until you get your keys or handing over the unit to the tenant.
Hire a professional real estate salesperson like Dylan who has the sales experience, knowledge of latest policy, ability to give a financial overview of the purchase and network to find your dream home or investment real estate that is of low risk with good potential. Whether it is you are looking at the condo for sale or condo for rent, he can advise you while keeping in mind your best interests as the top priority.
Get up to date financial consultation to make your assert work harder for you.
Knowledge, skill and network that technology couldn’t replace; expect professional assistance in the transaction with a personal touch.
Policies & Measures
Understand the latest policy & cooling measures and how can you use it to your advantage.
Dylan has a pool of reliable bankers, lawyers and contractors supporting him to make your work easier.