Anchorvale Crescent EC by Sim Lian

The Treasure Crest is one of the most exclusive apartments in all of Singapore. There is so much to do and see here. A person can lease an apartment here for up to 99 years, there are around 535units for people to live in and there are still some that are open for rent. There are some additional units that are yet to be released.

Treasure Crest EC

The Treasure Crest apartments are located in district D19 and there gross floor plan is 187,833 square feet. The apartments are close to many of the great amenities in the area including the Sengkang Mall as well as the Community Hospital. The apartment is only a short distance MRT Station.

These apartments are rather popular due to the location as well the floor plans. There is also ne need to pay for a resale levy on these apartments. The resale of these apartments varies from $30,000 to $50,000 depending on the size of the apartments. Potential owners can enjoy the close proximity to many location. Pretty soon the Waterway Point will be opening so that residents can enjoy this. The apartments are also close to the Springdale Primary School as well as the Compassvale Primary School which offers children a top quality education.

Treasure Crest Sim Lian EC

People that live at the Treasure Crest apartments can enjoy access to the Sengkang Recreation Centre. This centre allows people to have access to fast food 24 hours a day. There is also an indoor water park that features a number of water slides. This centre will allow residents to keep busy even when the weather is not the best.

The Treasure Crest apartment complex is a great place to live. There is a lot to do near the apartments and they is easy access to transportation. The Treasure Crest complex is a great place to live.

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Higher than Average Asking Prices

The presumed downtime in the real estate market has prompt some real estate agents to come up with tricks for a bigger commission.

To earn more money, some unscrupulous property agents in Malaysia are quoting a higher asking price than the seller’s actual selling price, according to an opinion piece by Melati Mohd Ariff, reported Malay Mail Online. “This situation has persisted for quite some time, with buyers at times falling victim to ruthless real estate agents,” said Ariff.

“It was when I stumbled upon an advertisement for a landed property bearing two different prices that I realised something (was) amiss. The property owner quoted RM80,000 (S$26,781) lower than the agent!”

In addition, Ariff reckons that only those earning a five-figure salary or more can afford to buy a house in Kuala Lumpur, especially landed property.

A check of online listings of freehold landed homes shows that properties in Malaysia’s capital are priced from RM800,000 (S$267,812). Most of these homes were built 20 to 30 years ago. It is indeed higher than the average listings out there and this is a clear indication that the asking prices are marked up by these agent

Ariff said: “A friend of mine told me that a two-storey house in (the suburb of) Setapak purchased over 20 years ago (as a second owner) for around RM300,000 (S$100,430) is now worth some RM1.2 million (S$401,757)!”

Residential property prices in the area have soared after malls were constructed and roads were upgraded.

“Another friend purchased a three-room condominium in Kuala Lumpur for RM190,000 (S$63,586) in 2003 and its estimated market value today is RM700,000 (S$234,373),” noted Ariff.

Ariff added that there are many online property listings featuring absurd asking prices.

For instance, a one-storey bungalow in the city-fringe has an asking price of around RM400,000 to RM500,000 (S$133,921 to S$167,401). But if a buyer were to view it, he or she would be shocked to learn that it’s just a dilapidated wooden house standing on a freehold land site.

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Mortgage Listings on the Rise

It seems that there are more units available in the market that are put up for sale due to owners not being able to keep up with the mortgage payments due to rising interest rates as well as a slowing economy.

The economic slowdown and soft leasing market has led to staff cuts, which caused some affected homeowners to have difficulty financing their mortgages, revealed a DTZ Research report. This has prompted new auction listings for mortgagee sales to soar 85 percent to 87 units in 2015 from 47 units in the year before, stated the report. The number of auction listings for owners’ sale also surged to 135 properties last year from 77 properties in 2014.

“Given that properties that command higher price quantum tend to move slower in a quiet market, owners use auctions as an avenue to hasten disposal, so as to release their housing equity,” said DTZ. Moreover, the report noted that more landed properties and large apartments were put up for auction in the year. The number of landed properties listed for auction climbed to 53 units in 2015 from 39 units previously, while the number of apartments with a strata area above 2,000 sq ft rose from 17 units to 40.

However, buyers may not be too receptive of the new listings as the asking prices of the auction units are still high and a general correction is needed on the asking prices of these units

DTZ expects more choice homes to enter the auction market, given the recent equity sell-off in response to signals of an economic slowdown in Japan and China. “Sudden shocks in the equity markets tend to be a precursor for more auction listings, as owners need to adjust their financial position. This will offer prospective home buyers a window of opportunity to acquire homes at reasonable prices,” said Dr Lee Nai Jia, DTZ’s Head of SEA Research. It is also hope that first timers might get a better offer in Woodlands Northwave as Woodlands is an area that is slower in transactions and far away from the city.

In fact, DTZ’s upcoming auction on 25 February will showcase several luxury homes, including a 4,219 sq ft cluster bungalow in District 21 and two adjacent penthouses in District 15. Other listings include two split penthouses at the five-storey Veranda apartment development. Located along Lorong K Telok Kurau, just off East Coast Road, each unit has an indicative valuation of between $1.3 million and $1.6 million.

“Under current market conditions, it is difficult to acquire a good quality home through private treaty as the price gap between buyers and sellers tend to be wide due to mismatch of expectations. There are fewer good units available too as owners of such units will wait for the market to rebound first. Hence, auctions this year offer buyers a window of opportunity to seek choice homes at reasonable prices,” said Joy Tan, DTZ’s Head of Auction.

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