As you may already know, you actually don’t need an agent to buy or sell a home, particularly an HDB flat where the transaction and process is very structured and transparent. Information on HDB resale prices and recent transaction are readily available for anyone to see. In Singapore, the legal aspect of a sale is handled by lawyers. So in addition to using sites like Propertyguru, don’t forget to include FSBO (for-sale-by-owner) sites. Here are some popular FSBO sites (pronounced fizz – bo) in Singapore:
The first thing I ever bought at an auction was not property or a car. Nor was it jewellry, watches, or artwork. It was two giant bags of clothing that weighed at least 5kg each. But this spontaneous purchase, as it turned out, was one of the smartest buys and lessons in arbitrage. (more…)
Upon graduation, many of my friends had big dreams to do good things in this world. They realised how privileged they were and wanted to use their knowledge and skills to help the less privileged. They wanted to help the needy, build homes for the homeless, or provide medical care to the disadvantaged. But after a decade, none of them did this. Why did they not “follow their dreams”, and what forces caused them to drastically alter their life and choices?
[This article is written by Timothy Ho, and first appeared on Dollars and Sense] If you have been thinking about buying a condominium, or are intending to upgrade from a smaller apartment, you may have met a few enterprising real estate agents claiming they can help you buy your “dream condo for free”. You may even have seen Facebook ads from agents that claim you can easily own multiple properties with little or no money. But just how genuine are these claims? (more…)
The new generation is being priced-out of the market. Many young Singaporeans are worried they won’t have good-paying jobs in the future, let alone earn enough to afford a decent home. If the economy is not booming, then what’s keeping home prices up? Why haven’t the government cooling measures brought home prices back down to historical values? Why are interest rates on loans still near zero? Are there good reasons to want home prices to come down? Here are some things to consider.
Affordable and quality housing is one of the cornerstones of building social stability, and the sense of nationhood. Singapore’s public housing programme is no doubt one of the most successful public housing programmes in the world, resulting in low rates of homelessness, the elimination of slums, higher cultural and social integration, and lower crime rates. By comparison, in Los Angeles, when I grew up, public housing (aka the projects) was a hotbed for crime, drugs, gangs, violence, and disease, with little chance of upward mobility or even integration. Because homelessness results in a whole host of problems, keeping housing affordable and accessible, still remains one of Singapore’s top priorities. Though with all the various government schemes, it’s hard to keep track of what’s what. Here’s an attempt to help simplify the various public housing schemes available in Singapore:
The recent ease of the Singapore property cooling measure has made property transactions less costly for prospective buyers and sellers, and some companies are trying to further reduce that cost by cutting out one of the biggest transaction expenses – the agent’s commission. (more…)