Online search for long-term and short-term stay in Singapore

You might rent out a master bedroom for 1000 SG$/month in the conventional way. But you could as well charge 100 SG$ for a single night and earn up to 3000 SG$/month!

You are a homeowner and consider renting out a room on long-term or short-term basis, this website is for you. They make it easy and simple for you to rent out your place, be it long-term or short-term rentals.

roomsDB.net helps you to do exactly this. They accept short term bookings of your room on your behalf, manage the availability of your room and inform you via email and sms about new bookings.

Your offer will be online for a whole month. If you featured your offer, it will be online for the featured period + an additional month. They do not charge any kind of commission, hence regular offers are indeed completely free. However, the paid-for featured offers enjoy a much higher priority than regular offers.

If you are agent, don't worry, there are a so many agents who already successfully use roomsDB.net to boost their business.


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Deferred Payment Scheme (DPS)

Under the DPS, buyers can purchase uncompleted residential properties by paying 10 to 20 percent downpayment to the developer. The remaining 80 to 90 percent of the purchase price has to be paid only when the temporary occupation permits of the properties are issued. This scheme was introduced in October 1997 and withdrawn in October 2007. Given the fall in property prices, we are concerned about buyers who have purchased properties under the DPS.

There were 10,450 units under the DPS as at 30 November 2008. Of these units, 4,560 units (43.6 percent) were expected to be completed in 2009, 2,540 (24.3 percent) in 2010 and 1,934 (18.5 percent) in 2011. We will first focus on the 4,560 units in 2009. As construction of private properties normally take about three years, it is most likely that the 4,560 units were bought at 2006 prices. In 2006, the URA residential property price index went up by 9.8 percent. The 2,540 units to be completed in 2010 would have been bought at 2007 prices, when the URA price index went up by a hefty 28.1 percent. We believe that those who bought at 2006 prices will still be able to make a small, if any, profit when completion occurs in 2009. However, those who bought in 2007 and later will encounter losses as the prices had risen by huge amounts and price correction would take place in 2009.

Furthermore, banks are tightening credit and buyers may have difficulties securing loans. Therefore buyers, who are unable to obtain loans, may have to sell their properties at lower prices in the open market or forfeit their downpayments and return the properties to the developers. The developers would have to sell their properties at much lower prices to entice buyers as the downturn in the property market continues. This supply of properties from the DPS will add further pressure to the falling property prices.

Response from the government. Due to the economic uncertainties, in December 2008, the government announced that no new sites will be added to the Government Land Sales (GLS) Programme for the first half (1H) of 2009. Moreover, it has reduced the supply of commercial space and will not have new supply of private residential units from government agencies, outside the GLS Programme, for 1H 2009.

We feel that the measures are timely as the response to the GLS Programme has been poor for 2008. This will not add to the supply of land in the market and further depress prices.


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Singapore Property Transaction Price History

Ever wonder where can you get the transaction price history for a property in Singapore. As the housing market appears to be hot now, I suggest you do more homework before making a decision. And this website, can show you all the transactions history.

The details provided include:
- Project Name
- Project Type: condominium, apartment or....
- Street Name and District
- Floor/Land Area *(sqm)
- Price ($) and Price ($psf)
- Date of Option

An example of Ang Mo Kio Grandeur 8 Transaction Prices

Project, Street Name, Floor Area (sqm), Price ($) Price ($psf) Date of Option
GRANDEUR 8, 10 Ang Mo Kio Central 3, 111, 578000, 483.77,  1-Oct-03
GRANDEUR 8,  2 Ang Mo Kio Central 3, 105, 534160, 472.62,  2-Sep-03
GRANDEUR 8, 14 Ang Mo Kio Central 3, 160, 689000, 400.06,  2-Sep-03
GRANDEUR 8, 14 Ang Mo Kio Central 3, 132, 704287, 495.68,  1-Sep-03
GRANDEUR 8, 10 Ang Mo Kio Central 3, 104, 578730, 516.98, 28-Aug-03
GRANDEUR 8, 14 Ang Mo Kio Central 3, 132, 596000, 419.47, 25-Aug-03
GRANDEUR 8, 10 Ang Mo Kio Central 3, 113, 530000, 435.74, 25-Aug-03
GRANDEUR 8, 12 Ang Mo Kio Central 3, 148, 641869, 402.92, 22-Aug-03
GRANDEUR 8,  2 Ang Mo Kio Central 3, 105, 528000, 467.17, 21-Aug-03

Unfortunately, this website only keep the transacted records for the period Jan 2000 to Apr 2004. For transactions after April 2004 got to find from URA, where only the recent one year transaction is shown.

For first timer: What do to do on the property launch?

For new or first time purchasers, you may like to know how the things work on the first day of property launch. The details is shown below:

1) Purchasers note down the units of his/her desired choice, we advise to chose 2 to 3 units and prioritise your main choice. But is good to have a few backup choices in case being sold out. There is a case where someone mass book the whole block.

2) The property agent will collect 1 cheque from you : 1)Cheque payable to project account, 2) crossed and signed with the 3) amount leave blank. Alternatively, if you have an agent, you can ask him/her to issue the check on your behalf. The check just to show your sincerity to join in the property launch.

3) Do up document signing for the booking.

4) On the day itself or earlier when the price list is out, the agent will call you to let you know the price of the unit you have chosen.

5) We will also advise you from time to time whether any purchaser has place cheque on the unit of your choice. If yes, you may like to decide whether to change your priority.

6) If you feel the given price is not attractive nor any other issues and wish to withdraw the purchase, instruct the property agent to withdraw. Your cheque is return to you on the same day. (No cost and No penalty)

7) If you are glad with the Preview Price, on verbal, you will instruct property agent to hand in the cheque for booking. They will fill in the amount on your cheque based on 5% of the quantum price of the unit. Option To Purchase from developer­ will generate out for your signing.

But of course, for you to join the preview, you must always get yourself an agent, if not, you won't be able to attend the preview. So how to get an agent? Well, you can know the agent from any other projects, and let them to inform you on the future launch. Or you can register yourself at those agent websites, like those shown in my link or those property websites in my previous posts.


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Make sure you check this MRT map before buying any house in Singapore

Compared with Japan, London, New York or even Hong Kong, Singapore public train services (or MRT) is still far from complete. This is the plan of the future train line. No doubt that, your house will have much higher return or rental value if it is within walking distance to any of these train station. No one would like to take an extra ride of bus.

There is an investment guru once said that "buy the house at the most expensive area that you can afford, rather than buy the biggest house at the rural area". No matter be it for investment, for rent, or for self stay. It is good to stay close to city and be convenience.


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List of new condo projects in Singapore

Here I provide a list of condo projects, with their location and price information for your reference. It will be updated time to time.

Project (Year, Developer): Location, Launch Date, PSF, Unit Sold (Unit unsold), TOP.

East:

Livia (99, CDL): Paris Ris, July 2008, $650 psf, 340 units
Livia (99, CDL): Paris Ris, Feb 2009, $620 psf, 60 units (384 unsold), 2011.

Quartz: Buang Kok, Mid 2007, $650 psf
Quartz: Buang Kok, Early 2009, $595 psf, 160 units.

Waterfrount Waves: Bedok, Jan 2008, $600 to $620 psf, 169 units (240 unsold), Q4 2012.

Coastal Breeze Residences: Loyang Besar, Feb 2009, $610 to $620 psf, 20 units (23 unsold), Q1 2011.

East Coast Residences: East Coast, Feb 2009, $810 psf, 15 units (44 unsold), Dec 2010.

Poshgrove East: East Coast, July 2006, $810 to $880 psf, 68 units (8 unsold), Dec 2008.


Central:

Alexis (free): Queenstown, Feb 2009, $850 to $1150 psf, 150 units (150 unsold)

St Patricks Residences: St Patrics, Feb 2009, $675 to $900 psf, 17 units (13 unsold), Dec 2012.

Nova 88: Bhamo Road, Jan 2009, $950 psf, 35 units (53 unsold), Q2 2012.

Nova 48: Prome Road, Feb 2009, $950 psf, 17 untis (31 unsold), Q2 2012.

Ferraria Park: Flora Park, End 2006, $600 to $630 psf, 451 units (21 unsold), Q3 2009.

Woodsville 28: Woodsville Close, July 2008, $850 psf, 22 (90 unsold), Q1 2012.


West:

Caspian (99, Fraser): Lakeside, Feb 2009, $580 to $600 psf, 527 units (712 unsold), Mid 2013.

Centris: Boon Lay, 1Q 2009, $550 psf

Lakeholmz: Lakeside, 3Q 2008, $564 to $626 psf

Lakeshore: Lakeside, 3Q 2008, $750 psf



DBSS:

Natura Loft (QingJian) : Bishan, $418 psf
The Peak @ Tao Payoh (HoiHup): Tao Payoh, $450 psf
Parc Lumiere (Simlian): Simei

Last Update: 17 Apr 2009.



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Read Singapore Master Plan before you buy a house in Singapore

So make sure you have read the Master Plan before choosing where to buy a house. By doing so, after a few years, if your area is being developped as promised by the Master Plan, your house will increase its value much faster than other area.

The Master Plan is the statutory land use plan which guides Singapore's development in the medium term over the next 10 to 15 years. It is reviewed every five years and translates the broad long-term strategies of the Concept Plan into detailed plans to guide development. The Master Plan shows the permissible land use and density for every parcel of land in Singapore.

Like the Concept Plan, the Master Plan is a collaborative effort between agencies to ensure that plans meet immediate economic and social needs while maintaining a good quality living environment.

The Master Plan is one of the most important tools used to shape Singapore’s physical development. Many proposals put forth in the Master Plan have been realised by the private and public sectors. Examples are the transformation of Singapore River and the development of new commercial centres at Tampines and Novena.

As for when to buy a house in Singapore. Recently the report says that HDB resale prices could dip soon. Prices of HDB resale flats have continued to rise even as the economic downturn takes its toll on jobs, wages and private home prices. But analysts warn this recent steady rise may not last long.
According to flash estimates of HDB's Resale Price Index released yesterday, prices of flats in the fourth quarter of last year rose 1.5 per cent over the preceding quarter. This figure is considerably lower than the 4.2 per cent increase in the third quarter, and it is the first time that growth has dipped below 3 per cent in six months, said real estate agency PropNex.

But while average prices of HDB resale flats are now at an all-time high, property analysts say that they are likely to dip some time this year. 'Sentiment is pretty soft as many people are taking a wait-and-see approach,' said Mr Eric Cheng, executive director of HSR Property Group. 'If prices dip, they will do so in the second and third quarters of this year.'



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