In the first quarter of 2020, the HDB resale price index flash estimate remained unchanged after a 0.4% q-o-q expansion in 4Q2019. total paid by end of loan: $501,335 (total interest paid = $121,515), Monthly home loan repayment (at 2.6 per cent per annum): $2,156, Required monthly household income for MSR: Approx. Resale transacted prices within 200 metres from any HDB Block or DBSS Site/Project; Resale transacted prices for all flat types in each block; All other related information to the block (EIP/SPR Quota, Upgrading Programmes and Distance Enquiry for CPF Housing Grant) The data is based on registered resale applications and is updated daily. total paid: $527,679 (total interest paid = $59,279). Resale flat prices are now only down about 7.7 per cent, from the last peak in 2013: Source: Squarefoot Research. Source: HDB resale price index portal, average transaction prices (4-room resale flat), June 2019 to June 2020. Sometimes Singaporeans tend to overestimate the cost of HDB housing. total paid: $625,987 (total interest paid = $151,407), Monthly home loan repayment (at 2.6 per cent per annum): $2,561, Required monthly household income for MSR: Approx. Join our Telegram group for instant notifications, Top 10 Old Condos That Have Seen The Highest Gains Since 2010, HDB BTO Launch November 2020: We Review Each Launch Site, How Covid-19 May Have Ended Up A Boon To Resale Flats. Note that in the examples above, prices are before grants. The data is based on registered resale applications, and is updated daily. The data is based on registered resale applications and is updated daily. For an HDB 5 Rooms in Tampines GreenCrest, Tampines GreenGlade, and Tampines GreenOpal, the minimum income to choose between a BTO and a nearby resale is $6,000 per month. We also assume you use a loan tenure of 25 years in the following scenarios: Minimum down payment: $81,000 ($16,200 in cash, up to $64,800 from CPF), Monthly home loan repayment (at 1.3 per cent per annum): $949, Required monthly household income for MSR: Approx. Send us an email at: [email protected]. The down payment can be made via cash or CPF. This provides maximum financing of up to 75 per cent. For the whole of 2019, there was no change in resale flat prices, indicating that prices of resale flats have stabilized after a series of policy changes were made in recent months. Mature Estates prices decrease by 0.8% while Non-Mature Estates prices increase by 0.1%, as compared to February 2020. The main gripe is the initial five per cent down payment, which cannot be covered by CPF or any bank loans. It’s BTO launch time, and once again your eyes are being drawn to places like Bidadari and Bishan. Bank loans require you to meet both the MSR and the Total Debt Servicing Ratio (TDSR). Sun expects HDB resale prices to increase by 1.5 per cent to 3.5 per cent for the whole of 2020, with 20,000 to 23,000 units changing hands, while Mak expects prices to rise between 2.5 and 3.5 per cent for the year, with 23,000 to 24,000 units sold. HDB resale prices fell 0.7% q-o-q in 3Q17, the largest fall in 10 quarters. SINGAPORE - Housing Board resale prices were flat in the first three months of 2020 amid the Covid-19 outbreak, compared with the last quarter … Note that bank home loans rates fluctuate more than HDB loans. ft. $5,833, Est. There’s a chance of Cash Over Valuation (COV), such as if the seller wants $550,000 for a flat valued at $540,000. The Stacked Homes Editiorial began in 2017 to provide the latest news and analysis on property in Singapore. $6,607, Est. ft. 5-room = 1,184 sq. total paid by end of loan: $148,053 (total interest paid = $16,753), Minimum down payment: $83,500 ($16,700 in cash, up to $66,800 from CPF), Monthly home loan repayment (at 1.3 per cent per annum): $978, Required monthly household income for MSR: Approx. In actuality, the current mortgage rate is around 1.3 per cent. The second issue comes with resale flats. ft. 4-room = 969 sq. He also spends too much time and money on painting little plastic soldiers. HDB Resale Price Index DOUBLED from 2007 to 2013, dropped slightly to 2015 then stabilized. *Pricing for 2-room flats in Tampines may not be reliable due to low volume of transactions; there were only two units transacted for October 2020. As an aside, here are the resale prices for these areas, in case your balloting didn’t go as planned: *All data from Square Foot Research, based on Oct 2020 resale prices. We use the following size approximations: Note that flats built in the 1990’s or before tend to be larger than the above. Around 2618000 of 1834568000 changed hand on the market. Even if the balloting works out, the flats there look way out of budget. As an aside, here are the resale prices for these areas, in case your balloting didn’t go as planned: *All data from Square Foot Research, based on Oct 2020 resale prices. $4,180, Est. My name is Sean and our goal is to help home buyers and sellers in Singapore make the best decision for themselves. Based on an MSR limit of 30%, the cash outlay between the two choices are shown below. total paid: $433,950 (total interest paid = $105,270), Monthly home loan repayment (at 2.6 per cent per annum): $1,903, Required monthly household income for MSR: Approx. $7,847, Est. This trend is expected to carry on in 2020 as new launches hit the market, creating intense competition among developers to build more high-end properties to be sold at lucrative price … The first five per cent of the flat must be paid in cash, and the remaining 20 per cent can come from CPF. While the required income level appears lower for banks, remember that this is because a larger down payment is required (you’re borrowing less). Over the past 18 years, he's been a content developer for companies large and small, a co-founder in an education business, and sometimes a voice on the radio. While HDB resale prices may have dipped slightly at 0.3%, there was a significant 16.8% increase in sales volume compared to February, making for a total of 1,948 HDB … According to data released by the Housing and Development Board (HDB), the HDB resale price index also declined at a more gradual pace of 0.9 per cent year-on-year in 2018 against 1.5 per cent in 2017. For an easy comparison, here’s the HDB vs bank loan side by side. $9,417, Est. total paid: $428,016 (total interest paid = $48,196), Minimum down payment: $132,000 ($26,400 in cash, up to $105,600 from CPF), Monthly home loan repayment (at 1.3 per cent per annum): $1,547, Required monthly household income for MSR: Approx. HDB resale prices rebounded last year, with a second consecutive uptick in Q4 2019. Unlike BTO flats, resale flats are not always priced exactly the same as the valuation. Dual income families can likely meet the MSR even for 5-room units in mature estates, after grants. – at 60 per cent of your monthly income. Median resale prices by town and flat type, for resale cases registered in Q3 2020. $4,057 for MSR, Est. For Singaporeans who have to take a bank loan, the obstacle is seldom the MSR or TDSR. More HDB resale flats sold in March, prices down 0.3%. Please click the "Accept" button if you agree and accept the, You can also check the resale transacted prices using the, Resale transacted prices within 200 metres from any HDB Block or DBSS Site/Project, Resale transacted prices for all flat types in each block, All other related information to the block (EIP/SPR Quota, Upgrading Programmes and Distance Enquiry for CPF Housing Grant). With a remaining lease of 90 years and 11 months, … As a reference, we will use the base prices given for each of the flats. However, there are two sticky issues that could get in the way. But a part of you may be thinking: this is all a fantasy right? If you have the cash to … Home works had to be put on hold. Actually prices are rising in some towns while dropping in other towns. (Table: HDB) Singapore started a circuit breaker on Apr 7 to curb the spread of COVID-19. This is also happening despite an increasing supply of resale flats. Using the HDB resale price index, prices of HDB resale flats slipped marginally by 0.1 per cent q-o-q in Q3 2018. The median resale prices by town and flat type for resale cases registered in the 3rd Quarter of 2020 Arrow down icon The median price is the fiftieth percentile amount of HDB resale flat purchases. Thank you for subscribing to the newsletter. Monthly home loan repayment (at 2.6 per cent per annum): $1,528, Required monthly household income for MSR: Approx. Note that the Buyers Stamp Duty (BSD) is payable using CPF. There’s no way around this other than to save up, borrow from parents, etc. We’ve worked out the likely amount you need to purchase an HDB flat in some of the hottest estates – both new flats and resale. An HDB loan allows for financing of up to 90 per cent*, and a minimum down payment of 10 per cent. At the same time, the number of resale transactions could dip to 21,000 to 22,000, from 23,714 in 2019. While there are concerns regarding demand in the short term, we are confident that property prices will remain stable in 2020 (possibly a modest 2 to 4 per cent price growth) and there will be a gradual absorption of supply over the next five years. It is the second unit in the HDB town of Ang Mo Kio to have crossed the $1 million mark. In such a situation, you could use a bank loan. Queenstown HDB resale flat prices Source: HDB resale price index portal, average transaction prices, June 2019 to June 2020 Queenstown is the priciest mature heartland estate, with average prices for a 4-room HDB resale flat pushing the $700k mark. Topping the list is … Sign up to get the latest insights delivered to your inbox 2x a week. For all of the following we will assume the use of a 25-year loan, which is the maximum loan tenure to secure full financing. Monthly home loan repayment (at 2.6 per cent per annum): $1,323, Required monthly household income for MSR: Approx. Next reporting date: January 15, 2021: EPS forecast (this quarter) $0.54: Annual revenue (last year) $20.8B: Annual profit (last year) $3.8B: Net profit margin Well perk up, because you might be wrong. total paid: $844,127 (total interest paid = $203,717). Again, note that a projected interest rate of 3.5 per cent is used for MSR and TDSR calculations. In general, it’s best to have around $10,000 to $15,000 more than the asking price, in case HDB’s valuation turns out to be lower than what the seller asks. The level of affordability may surprise you: Let’s start with the mature towns available in the November 2020 launch, *Prices from HDB November 2020 BTO launch. total paid: $381,922 (total interest paid = $43,042), Minimum down payment: $115,000 ($23,000 in cash, up to $92,000 from CPF), Monthly home loan repayment (at 1.3 per cent per annum): $1,348, Required monthly household income for MSR: Approx. If you need help with the financing aspects, drop us a message on Stacked; we can help you out. Property experts said on Sept 3, 2020 that the HDB resale market was showing strong resilience despite the economic downturn. $4,867, Est. To use an analogy, if the cost of flour had gone up, it would impact the price of bread. The index is based on quarterly average resale price by date of registration. Singapore’s public housing market registered a stunning rebound in the third quarter of 2020, with HDB resale prices increasing 1.5% quarter-on-quarter (q-o-q) following a marginal increase of 0.3% in the previous quarter, showed Housing and Development Board (HDB) data. $7,930, Est. — TODAY pic. Once we factor in benefits like the Enhanced Housing Grant (EHG), the average Singaporean could afford, say, a 3-room flat in Toa Payoh even with a sole breadwinner; this is based on the reported median salary of $4,563 per month. $5,017, Est. 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