Will we be able to afford a Private Property in Singapore ANYMORE? PropertyLimBrothers | NOTG S3 Ep7
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- Опубліковано 27 чер 2024
- Melvin Lim, Grayce, George and Yu Rong delve into numerous topics, from their property of choice, to the possible oversupply of resale flats from the “Baby Boomers” inheritance. Will Singaporeans be able to keep up with property affordability? With plenty of caveats going around, leading from one topic to the next, strap in for this insightful and opinion-loaded episode of Nuggets On The Go!
00:00 Introduction
01:42 What property will you buy for $4 mil?
26:27 Landed vs Non-Landed Price Index
36:33 2030 Who is allowed to Buy What Types of Properties?
48:16 HDB Inheritance
58:05 Conclusion
#PropertyLimBrothers #notg #podcast
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© PropertyLimBrothers™ 2023
Melvin Lim and Adrian Lim started PropertyLimBrothers with an intention to market each property to its fullest potential for home sellers and to solve the core problem of the conventional brokerage method with the PLB Team Model, with reverse engineering to add immense value to consumers.
From humble beginnings as Singapore prison officers in 2004, co-founders Melvin and Adrian ventured into the real estate industry in 2007 as traditional agents. With the property industry getting increasingly competitive, they knew they had to be different. In 2017, they started the first video home tour in Singapore with a presenter show and tell format, and have never stopped since!
‘Til date, PLB has crafted more than 1,500 videos on our UA-cam channel since its formation. In the last 3 years, 720 of them were Home Tour videos. We have also successfully sold 516 properties in the last 24 months and helped 110 Home Buyers purchase their dream homes in the year 2021. We target the right audience, positioning each property in its truest and best form.
Since 2017, we have grown together with our audience, our clients and the real estate market. Our team has grown from a mere two people working in a small office to 105 full-time colleagues working hand-in-hand to provide our PLB 7-man Team Model to our extensive clients through in-house Media Production, Digital Marketing, Social Media, Inside Sales Consulting, Research, Insights, and Client Support.
In 2022, PropertyLimBrothers ventured out on our own under PLB Realty. Our newly established realty arm will harness the power of our existing media company to offer property sales, digital marketing, branding, research, and analytics tools on our one-stop online platform.
The tagline #RealEstateWithIntegrity lies within the heart of the entire team, as only through glorifying God in work and business, will our daily hustle be meaningful.
#LoveYourNeighbour as thy self is a commandment that should be innate for our marketplace. Naturally, excellence follows through this, while treating clients with love, integrity and care.
Interesting insights particularly the would be supply of HDB flats from 2026 and beyond, hope that the resale hdb flat prices would fall back to a more affordable price level
Melvin kudos for such videos. You and your team will definitely excel !
thank u for ur kind words!
deserves more views for sure
thank u i hope ask ur whole kampung watch as well ^_^
What’s the availability 4 bedroom resale condos （below $2.5mil) for OCR >2000sf or RCR 1300-1400sf?
Interesting point on the HDB supply due to death of owners
Hi Gilbert, thanks for dropping by! Hope you enjoyed this episode :)
what is a Cat 4 home? Didn't quite get the point of the developer needing to develop fast otherwise they will kena ABSD
Hi there!
Cat 4 homes are what we at PLB term as a brand new developer's landed home. Developers often have a fixed timeframe to sell off ALL their new-build units in order to fulfil the conditions for remission of ABSD.
More info on developer's ABSD: www.iras.gov.sg/taxes/stamp-duty/for-property/appeals-refunds-reliefs-and-remissions/common-stamp-duty-remissions-and-reliefs-for-property/sites-for-development-of-five-or-more-residential-units
so if I own a private and I get a HDB acquired after 2010 handed down to me I will have to sell my private to keep the HDB?
Hi there, yes that is correct :)
You would have to make a decision between the two properties.
Should you choose to keep the HDB flat, you have to sell your private property within 6 months.
If you were to pick to keep the private property, the same 6 month rule applies to the disposal of the HDB Flat (if it has attained its MOP status). If it has yet to attain MOP, you would have to approach HDB to appeal to sell the HDB.
Hope this helps.
@@notgpodcast wow :( that may change my plans then... I wanted HDB for defensive play/own stay and then condo for investment.
@@notgpodcastcan’t you use the de-coupling strategy to sell the private to the spouse n retain the HDB.?
Wah! Char siew thinking! Parents haven’t pass away thinking of their HDB.
Hi there, thanks for your reply. We believe it's forward thinking for Singaporeans as the main mode of property trajectory. While we're on that Char Siew topic, it's Ramadan season 🙏🏼
For Choa Chu Kang will he consider sol acres also?
Brb, will ask George and get back to you.
Update: He says yes :)
Response from George:
Yes and i will go for a 4 bedder due to the rarity effect.
1. There are sufficient hdb upgraders in Keat Hong vicinity
2. 1km to relatively good school at South View Pri
3. Proximity to new town hub at Tengah
4. New MRT Line (Jurong Region Line). Total of 3 lines (NS, DT, JRL)
5. Good size project with sufficient transaction volume
But disclaimer, these are not pointers that will help make an informed decision when it comes to purchasing real estate. If you'd like, come down for an in-depth consult with George korkor ok :)
@@notgpodcast solid la, wait for ur reply
💅🏻💅🏻 slay
@@notgpodcast thanks guys ❤️
most welcome!
What if china effectively blocks Chinese money? What will happen to Singapore property? Singapore has bucked the global trend of decline in property prices so far due to china money...but for how long? Depending on a factor that Singapore can't control is not a good place to be in
So what your suggestions? Sell cheaply to India national? PAP just need to remove the ABSD I can guarantee you RCR will be 5k psf immediately.
@@HawkishMerlion1965 you got some problem to be reasonable and respectful to people?
@@HawkishMerlion1965 any appreciation not tied to economy growth can't sustain. High prices and rentals are driving expats and jobs are being relocated outside Singapore... Singapore economy will suffer...people can't keep buying forever....5k psf in rcr? not possible and will result in a long-term disaster...unless it is all sold to foreigners...if you watched this episode properly you know what salary levels are needed for buy at 2k psf and how many Singaporeans can meet that salary range. If you look at rcr at $5k, how many Singaporeans you think can afford such properties? Completely baseless, irrational statement you are making.
@@raoplns hello, u got see the number? 90% of new launch buyer are Singaporean. Many of us are waiting to buy as many property as possible if there is no absd. Last time Singapore no foreigners we also huat. Foreigners really think SG need them? Our politicians are just been polite lah, and foreigners, like u, think too highly of themselves. We only need money to park here, we are the new Swiss bank of the world. Do u know that Singapore are the only few country and HK and china do not need to share bank client info with USA. More money will be coming in all over the world, with the banking crisis in the west. Just buy property in SG la, u sure huat till to the moon. Do you know that SG manufacturing contribution % to our GDP? Beside Vietnam, I can assure u ASEAN combined also cannot beat us. Some more our manufacturing is not low end one hor. U lucky, limpeh tonight no dinner appointment so talk cock to u. Lol.
@@raoplns Singaporean are all very talented one hor. Without foreigners I can assure u Singapore will be even better and keeping the city clean and order. Just look at the PLB team, all youngsters are hungry and professional , these youngsters go to any industry also huat one. We Singaporean are the best of the best.
I don't think SG population will reach 6.9 million in 2030.
Yes, currently its stands at a shade below 6mio. Projection is 6.25mio to 6.5mio by 2030. Singapore population actually falls during covid years but recently we really built alot alot of condo and HDB.
The current population of Singapore is 5,976,209 as of Friday, March 31, 2023, based on Worldometer elaboration of the latest United Nations data.
**Singapore population projection+growth**
Year population
2020 5,850,342 0.91%
2025 6,078,764 0.77%
2030 6,262,466 0.60%
2035 6,386,461 0.39%
if you keep up selling properties we will not be able to afford it
the color looks alittle weird.
Haha the color grading is horrible. The editor color grade just because he want to color grade. 😂
Even the sound recordings is sub par. The no have a audio editor?
Thanks for your inputs! We could use someone like you :-)
Please email your resume, portfolio and cv to careers@propertylimbrothers.com