The Problems with Investing in Mickey Mouse Units

Mickey Mouse Apartments? Think Again. Image Credit: Cake by Nesrin, Flickr
Mickey Mouse Apartments? Think Again. Image Credit: Cake by Nesrin, Flickr

Definition of Mickey Mouse/ Shoebox Units

This term could be unique to Singapore for micro sized apartment that has really a small built-in area that could be just enough to function. You could have sizes like a studio unit with only 258 sqft (Suites at Guillemard) and have penthouses of up to 1,000sqft. At current, URA only approves units which are more than 300sqft according to a Business Times article cited in October 2009.

The trend could have started from February last year with the successful sale of Alexis at Alexandra.

Advantage

Affordable Overall Price

Developers are smart these days when it comes to planning for sizes and the affordability of the units. With more units that could be built in a single development because of the small sizes, developers (eg. projects such as Siglap V) will price them in accordance to the affordability level of most mass market income group, starting prices could be even slightly lower than $500,000.

With such type of affordability price, banks are more willing to lend to you as the risk of defaulting a mortgage is much lower as compared to apartment quantum that goes over the $1,000,000 mark.

Continue reading “The Problems with Investing in Mickey Mouse Units”

Singapore Property Auctions for the Month of July 2010

DTZ Singapore Property Auctions

DTZ Singapore Auction will be on the of 29th of July 2010, Thursday.

Venue:
The Amara Hotel Singapore, Connection Room 1, Level 3

Time:
02:30 PM

Download DTZ Auction List here

Knight Frank Singapore Auctions

Knight Frank Singapore will be having its Auction on the 27th of July 2010, Tuesday

Venue:
The Amara Hotel Singapore, Connection Room 1, Level 3

Time:
02:30 PM

Download Knight Frank Auction List here.

Jones Lang Lasalle Property Auction

JLL Singapore will be having its Auction on the 28th of July 2010, Wednesday

Venue:
The Amara Hotel Singapore, Connection Room 1, Level 3

Time:
02:30 PM

Download JLL Auction List here.

HDB Issues Reminder to Register Room Sublets

HDB has issued a reminder today to room rental Landlords to register their sublets with the them. The deadline is 31st of July 2010.

HDB Info-web

Date issued : 15 Jul 2010

Flat owners who sublet their rooms are required to register with HDB. HDB would like to remind flat owners with ongoing subletting tenancies commencing before 1 Feb 2010 that the deadline to register the subletting with HDB is in two weeks’ time, on 31 July 2010.

Background

On 12 Jan 2010, HDB announced that with effect from 1 Feb 2010, flat owners who sublet rooms in their HDB flats will have to register with HDB within 7 days of doing so. They are also required to notify HDB when they renew or terminate their subletting contracts, and when there are changes to their subtenants’ particulars. There is no need to seek prior approval for subletting of rooms.

This requirement supports Ministry of Home Affairs (MHA)’s ongoing efforts to eradicate loansharking activities, and to better protect HDB residents. Currently, some people use their old addresses to borrow from loansharks while they rent a room in another HDB flat. As they have moved their place of residence without updating their addresses in their NRICs, innocent new flat occupants ended up being harassed by the loansharks while the borrowers are untraceable.

The new rule will allow HDB to capture particulars of those who rent rooms in the HDB flats. With information on the addresses of owners and subtenants, MHA will be able to trace the movement of borrowers.

The new rule applies to all new and existing cases of rooms sublets:

o For new cases of subletting from 1 Feb 2010, owners are required to register with HDB within 7 days from the start date of the subletting; and

o For subletting tenancies that commenced before 1 Feb 2010, owners are given a 6-month grace period from 1 Feb 2010 to register their subletting of rooms with HDB. The 6-month grace period will expire on 31 July 2010.

As at 30 June 2010, about 32,000 flat owners have registered their subletting of rooms with HDB. This includes those with tenancies commencing before and after 1 Feb 2010.

Register by 31 July 2010

Flat owners who sublet their rooms before 1 Feb 2010 are reminded that they have about 2 weeks to register their subletting. They are advised to register early to avoid a last minute rush. Registration can be done online at www.hdb.gov.sg or at the HDB Branch Offices, where HDB staff will be on hand to guide residents on the process.


Penalty For Non-compliance

HDB may impose a penalty on those who flout the rule. The penalty may involve a fine of up to $3,000 or for recalcitrant cases, compulsory acquisition of their flats.

Far East’s Skyline at Orchard Boulevard Previews

Far East’s most luxury brand, Inessence has launched Skyline at Orchard for private preview. Since Inessence is their creme de la creme and just like their other Inessence products, they sell white plans for Skyline at Orchard.

The Inessence Brand

Every Inessence residence shares four uncompromising qualities: the most prime of locations in and around the famous shopping and lifestyle destinations of Singapore, a unique design from a master architect, thoughtfulness in space and details, and unprecedented levels of personalisation and bespoke customisation.

What Are White Plans?

Blank plans. Or allow-yourself-to-custom-your-home plans. You have a choice to take their recommended layout, or with the help from their qualified people, ink your own layout based on your lifestyle. Not only in your layouts, you get to pick and customize the finishes and fittings.
Continue reading “Far East’s Skyline at Orchard Boulevard Previews”

Upcoming Singapore Auction – Knight Frank and Jones Lang Lasalle for the month of June 2010

Knight Frank Singapore Auctions

Knight Frank Singapore will be hosting its June monthly 2010 Auction on 29th June 2010.

Date : 29th June 2010, Tuesday
Venue : The Amara Hotel Singapore, Connection Room 1, Level 3
Time : 2.30 pm

Jones Lang Lasalle Singapore Auctions

JLL will be hosting its June monthly 2010 Auction on 30th June 2010.

Date : 30th June 2010, Friday
Venue : The Amara Hotel Singapore, Connection Room 1, Level 3
Time : 2.30 pm

Do refer to my auction guide FAQ if you’re new to Singapore Auctions.

To Express Interest

To express interest in any of the properties listed in any of the Auction, you can contact me (+65 9125 3045) to make arrangement.

Facelift for ION Orchard’s & Tangs Plaza Underpass

Orchard Underpass to get a facelift. Source: Channel News Asia. Photo credit: costner_v, flickr
Orchard Underpass to get a facelift. Photo credit: costner_v, flickr

Sun Hong Kai and Capitaland will join hands together to give the underpass a face lift.

A spokesperson from ION Orchard said the pedestrian passageway will be widened to double the existing width, and there will be shops on both sides of the underpass. According to the CEO of Orchard Turn Developments, Soon Su Lin, there will be a facelift which will be similar to the underpass connecting Orchard ION and Wheelock Place.

The last time any major work was done there was in 1988. The move is expected to inject vibrancy to the old tunnel. Details of the upgrading will be out at a later stage.

Also, if you are unfamiliar with Sun Hong Kai and Capitaland’s joint ventures, Orchard ION and The Orchard Residences Orchard most highest and iconic residential building as of present, are championed by the two developers.

Upcoming Singapore Auction – DTZ & Colliers for the month of June 2010

DTZ Singapore

DTZ will be hosting its June monthly 2010 Auction on 24th June 2010.

Date : 24th June 2010, Thursday
Venue : The Amara Hotel Singapore, Connection Room 1, Level 3
Time : 2.30 pm

Colliers Singapore

Colliers will be hosting its June monthly 2010 Auction on 23rd June 2010.

Date : 23rd June 2010, Wednesday
Venue : The Amara Hotel Singapore, Connection Room 1, Level 3
Time : 2.30 pm

Do refer to my auction guide FAQ if you’re new to Singapore Auctions.

To Express Interest

To express interest in any of the properties listed in any of the Auction, you can contact me (+65 9125 3045) to make arrangement.

Market Sentiments – Will Singapore Property Market Turn?

Gloomy outlook? Hmm. Photo credit: hsalnat, Flickr
Gloomy outlook? Hmm. Photo credit: hsalnat, Flickr

Everyone is asking the same question with regards to the current financial market as Singapore Exchange (SGX) seem to be volatile with no directions.

Greece/ Europe Situation

With over 54 billion euros in debt, Greece as alongside with Spain and Portugal sent a shock wave to the global economy to end Singapore Exchange’s bullish streak from over 3,000 index point back to the 2,700 point in a matter of 1 week.

This highlights the fragility of the Euro dollar and its economy with 16 countries of the EU zone tied to one currency. As there’s no solution to Greece’s pressing issues at this stage, the world economy’s eyes will be watching and following tightly.

Here’s how the Greece problem happened. Continue reading “Market Sentiments – Will Singapore Property Market Turn?”

Singapore Property Auctions for May 2010

Knight Frank's May 2010 Auction

Knight Frank will be holding its monthly property auction on the 25th of May 2010.

Date: 25th May 2010 (Tuesday)
Time: 2.30PM
Venue: Amara Hotel, Connection Room 1, Level 3

Jones Lang Lasalle

Jones Lang LaSalle will be holding its monthly property auction on the 26th of May 2010.

Date: 26th May 2010 (Wednesday)
Time: 2.30PM
Venue: Amara Hotel, Connection Room 1, Level 3

Do refer to my auction guide FAQ if you’re new to Singapore Auctions.

To Express Interest

To express interest in any of the properties listed in any of the Auction, you can contact me (+65 9125 3045) to make arrangement.