Singapore Buyer’s Stamp Duty May Elevate the Prices of New Condo Development in 45 Amber Road

Due to the recent outline for a rate hike of the Buyer’s Stamp Duty, this may however affect developer’s prices for new condo developments in the future. The developer pays a significant premium to develop on residential sites as the need for newer developed condo property rises but; Are these premiums in need of a hike in higher price rate? Should developers pay more for new condo projects that are underway and coming in the near future?

While it’s certain due to the condo real-estate market, the hikes are inevitably going to take place in order to keep the economy stable. However, it’s not much clarity as to why developers should pay more in premium property prices. For developers of newly developed condo buildings like the Amber 45 condo building located at 45 Amber Road, this means it will force a slight increase in site purchases for future condo building sites. As uncertain as it is, it may even elevate the buying price of new condo units.

Friction in transactions for Singapore condos

The buyer’s stamp duty will certainly cause some friction in transaction volumes throughout the Singapore real-estate market. With potential buyers proving that they are not really ready for the prospect of elevated realty prices, these price hikes are inevitable, especially, if developers have to pay more premium prices for their new developments. With friction inevitability, a clarifying glimpse of the market for Singapore condos may show why buyer are still sensitive to the initial price hike of private condo property.

With the new development condo property market in the earliest stages of recovery from its past 15 quarter decline, the optimism of potential buyers is still growing after the optimism decline for the real-estate market. Although Singapore real-estate prices are considered higher than average property prices, these prices are still within affordable range compared to other areas with luxury real-estate. As the market buyer’s stamp duty rises the sales momentum may take a few years or more before it strengthens the real estate market for new condo developments.

How to keep the friction down for Amber 45 Condo

It’s simple to give all the right methods and strategies for keeping friction down for Amber 45 condo. One method and/or strategy would be to leave the buyer’s duty stamp right where it is and not even think of a hike, until there is more clarity of why the rate hike should be made. The friction will most likely slow the market growth, even though it’s on an upturn. Potential buyers will move slower to purchase newly developed condo properties, due to the buyer’s stamp price.

Why will people be slower to purchase newly developed condo property? Simple to answer, they will have to pay higher prices for their condo units as their BSD rises and higher because developers BSD rises. To avoid this, keep the BSD at the same rate for maybe 3 more year’s time, when it will be easy to understand why it should be risen. Keeping potential buyer active now instead of slowing them down will help to get the real-estate market to grow faster before the 3 years expect market growth strength time is up.

Buying Your First Home

Things to Know Before Buying Your First Home

Buying a new home is a dream come true for almost all of us. All is undoubtedly one of the toughest things that you are going to do in your life. Most of you looking out for help are first-time buyers. There are a lot of factors that influence your purchase. These factors make the act of buying a house a complex task, and this makes a lot of people to push their plans for home investments quite always. But do not worry. We are here to help you realize your dream of buying a new house. All you have to do is to remember the tips and you are done. So here are the tips that you should before investing in a new house, especially if you are first-timer:

Buying Your First Home

Decide on the basic facilities:

The first thing that you have to do when you are looking for a new house is to list the facilities that you are looking for in the new house. These facilities that you are looking for will be profoundly influenced by the number of people in the family, your profession, kids and seniors at home and even at times your medical conditions. Only after listing the factors, you will have to decide the type of house that you are looking for.

Measure your Affordability:

Your financial fitness is of paramount importance before you buy a house. It is not a wise idea to invest in a house that is beyond your affordability. It is fine to borrow funds and buy a house but your ability to repay counts. Simply remember one point your assets have to more than your liabilities. Also in most of the countries, there are a lot of financial support facilities that are extended to help the first time buyers. So make sure you avail the benefits and strengthen the financial position.

Strengthen your credit score:

There is something called your credit score. Most of the countries except the south Asian countries follow a system called credit score. The credit score is a means to measure the creditworthiness of a person. This helps the seller analyze your financial credibility. Thereby it is important you strengthen your credit score. This will improve the chance of you receiving good offers and deals.

Check out the location:

Understand the location where you are going to buy your house. The location of your house should match your needs and the external facilities that you would often look for. For example, if you have a senior person at home, it is highly important that your place has a hospital nearby, or if you have kids at home, it is important that you have a daycare nearby.

Do not Compromise:

Especially if you are a first-timer, it is not a great idea to compromise on the deals that you strike. It is agreeable if the deals are beneficial. But if you are buying a house just for the sake of buying it, then you will be put into a situation where you have to compromise a lot. In this case, we would rather advise you to push your plan of buying a house than buying something that you don’t like.