There is a very interesting piece of news which was published on the front cover of the Straits Times on 3rd May 2013.
The heading reads "Tanjong Pagar Centre set to be tallest building at 290m"
This is an iconic development by GuocoLand which will be made up of a tower housing Grade A office space, residences and retail space.
Its office portion - to be called Guoco Tower - will occupy 38 storesy and have 850,000 sq ft of net lettable space. The residential portion will take up the 39th - 64th storey and it will be called TP180. It will have nearly 200 units ranging from one to four-bedders and penthouses.
This white site was previously purchased at $1.71 billion - or $1,006 psf per plot ratio back in February 2011.
What caught my eye is really the speculated launch price of $3,000+ psf due to the location and proximity of being right about above Tanjong Pagar MRT station.
It will be very interesting to see how the lauch will impact the prices of surrounding residential developments.
Monday 20 May 2013
Friday 3 May 2013
Searching for a home or an investment property
On many occasions whenever I speak to potential clients who are shopping to buy a new home or for investment purposes, I realise that a lot of them are going around calling up listings advertised either on the papers or various online portals and then arranging viewings on their own. This process can be significantly shortened if only they engage a professional and competent real estate salesperson to assist them.
A person is usually very tied up in going about their day to day activities, let alone to squeeze the extra time in searching through the papers or web portals to look for a home or investment property on their own.
This is especially so when they are 1st timers in purchasing an investment property. It is not easy to find a good investment property, especially if you choose one whose value drop and/or remains very difficult to rent out over time.
A lot of people confuse buying an investment property over one for own stay. One thing to note about property investment is that you see with your mind and not with your heart as you'll not be living in it. It is going to be your passive income tool which helps you to grow your wealth.
Our job as professional consultants come into play and a good real estate salesperson would be in a better position to assist in identifying good properties with good potential. After all, we do this day in and day out. We have a good feel of what is happening on ground level even before any transactions appear on URA's website. By the time a transaction is reported, there is already a time lag of approximately 8-10 weeks.
We are also able to research and point out ongoing or future developments in a certain locality that may not be apparent to a typical buyer or they may overlook potential issues.
In the real estate realm, transactions occur all the time and it is no different from the stock exchange. The only difference is the volume, quantum and time taken for transactions to take place. It is precisely the long duration for a transaction to be reported to the public is when buyers and sellers are able to capitalise on either entering or exiting the market before a trend emerges. Of course, not everyone will get it right but it's usually either gaining a bit more or losing a bit less.
I notice that most savvy and successful property investors usually have a real estate salesperson whom they work regularly with regarding their purchases, sales and rentals of their property portfolio. This is no different from building a good professional relationship with your private banker. After all, the bankers help you manage your wealth by advising on various instruments that benefit you. Building a long term relationship with a competent real estate salesperson is the same. The only difference is they advise you on acquiring, selling and renting your million dollar investments.
In summary, engage a competent real estate salesperson and they will be able to assist you based on your requirements.
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