Singapore’s property market remains a hot topic, with forum discussions buzzing about new launches, resale prices, and mortgage rates. From the latest condo developments to HDB resale timelines, Singaporeans are actively navigating the evolving landscape. This post dives into the key takeaways from recent HardwareZone discussions, focusing on what matters most to local property enthusiasts.
Key Insights
- New Launch Pricing Trends: Forum users note a trend of increasing prices for new launches, with some developments in areas like D15 seeing transactions above 3000 psf. Even developments previously considered less desirable are seeing strong sales, suggesting a broad market demand. For example, ‘Continuum sees new high of $3,091 psf’.
- HDB Resale Dynamics: Discussions reveal that HDB resale timelines can vary, especially when dealing with inheritance. One user shared, “Selling will take longer, because the beneficiary need to get grant of probate/letter of execution from court…” However, once the documentation is in order, the completion timeline is similar to regular resales.
- Location Still Matters: While new developments gain traction, some forum members emphasize that location remains a crucial factor. One user highlighted the appeal of Lentor’s entry price and new environment, while another noted that D15 attracts buyers from all over Singapore. Milodrink also mentioned Woodlands as a peaceful estate with good connectivity.
- Compact Units for Investment: There’s a growing interest in compact 3-bedroom units for investment purposes, with some users seeing them as offering good value for money. These units, while not always ideal for own-stay, are considered accessible to HDB upgraders. A user said, “This is a dumbell 3 bedder with an enclosed kitchen and a storeroom behind it and will sell out on launch I believe as it seems excellent bang for buck for investment.”
- Property Cooling Measures: While the government has indicated they are not averse to implementing new cooling measures, it seems that for now, the focus is on letting current supply and demand measures work themselves out. One user noted, “The G wanting to maintain a stable property market. I think DL is a smart guy, so far he’s been making all the right moves.”
Recent Developments
- Orie Launch: The launch of Orie has generated significant buzz, with indicative starting prices considered “cheap” by some. One user said, “I just got it too.. TBH, I’m surprised it’s ‘so cheap’.” However, some forum members are wary of potential price staging.
- Continuum’s High: The Continuum has seen a new high transaction of $3,091 psf, indicating the strong demand for properties in D15.
- Mortgage Rates: Discussions on mortgage rates highlight fluctuating offers from banks. One user shared, “After Dec 24 FOMC the rate was at 2.68%. Today’s offer is at 2.6%”, while another reported getting a repricing offer of 2.55% fixed for 2 years with OCBC.
Community Experiences
- One user, tamgm_ shared their excitement about their HDB acceptance, “We just got our acceptance! Completion Date: 17th February” (23 Dec 2024)
- Users debated the practicality of dual toilet layouts in master bedrooms. Applejack joked, “master bath has 鸳鸯poop。 after all as the saying goes, couple that poop together, stay together bro.” (24 Dec 2024)
- Some forum members expressed concerns about the quality of new developments. One user mentioned, “CDL is more mass-market in terms of design and fittings, quality not the same as some of CDL’s past projects eg. copious use of vinyl.” (4 Jan 2025)
- There were discussions on the impact of new launches on nearby resale properties. One user said, “whenever got new launches in the area, the nearby resale will get a mention. Sure, a comparison is inevitable, but if these resale properties were any good in the first place, surely people would have gone for them already, no need to wait until now?” (4 Jan 2025)
- Users debated the merits of different investment strategies, with some favoring new launches and others advocating for resale properties. One user said, “Most areas of the resale market no longer ‘cheap’ liao. 2025 is the year to go for new launches.” (13 Jan 2025)
Practical Takeaways
- Due Diligence: Buyers should thoroughly research new developments, including floor plans and amenities. Pay attention to the quality of materials and the practicality of layouts.
- Mortgage Options: Shop around for the best mortgage rates, and consider using a mortgage broker to compare options. Be aware of lock-in periods and potential cancellation fees.
- Resale Timing: Be prepared for longer timelines when dealing with inherited HDB flats. Ensure all necessary documents are in order to avoid delays.
- Investment Strategy: Consider compact 3-bedroom units for investment, but be aware of potential drawbacks like lack of ventilation. Assess if the location and amenities suit your needs and investment goals.
- Stay Informed: Keep abreast of market trends, new launches, and government policies to make informed decisions.