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If you came here to learn all about Additional Buyer Stamp Duty, or, ABSD, you have come to the right place. Below are some frequently asked questions about ABSD as well as some tips we can offer you on how to legally avoid it. If our article doesn’t answer any of your questions on ABSD, be sure to write in to us at sales@auctionjia.com.sg. So let’s begin shall we?

  1. What is ABSD?

ABSD was first introduced on the 8th of December 2011. In the simplest of terms, ABSD is a government tax that is typically charged on the purchase of a second and subsequent residential property. These include HDB flats, residential shophouses (ABSD not applicable on commercial shophouses), condos and landed properties. However ABSD is charged depending on the buyer’s residential status. 

 

  1. Why do we pay ABSD?

ABSD is a cooling measure implemented by the government to keep property prices affordable for Singapore citizens by managing the demand for residential properties. It also aims to discourage foreigners and other entities from purchasing residential properties, and more so multiple residential properties.

 

  1. Who needs to pay ABSD?

- Singaporean citizens who are purchasing a second and subsequent residential property. 
- Singaporean permanent residents (PRs) who are buying their first residential property. 
- Foreigners who are buying any residential property (except those under FTA*).
- Entities* buying any residential property.

* Foreigners under Free Trade Agreements (FTAs) include Nationals and Permanent Residents of Iceland, Liechtenstein, Norway or Switzerland and Nationals of the United States of America.
* Entities refer to an 1. unincorporated association/ 2. a trustee for a collective investment scheme when acting in that capacity/ 3. a trustee-manager for a business trust when acting in that capacity/ 4. the partners of the partnership whether or not any of them is an individual, where the property conveyed, transferred or assigned is to be held as partnership property.

Read more: 9 things you need to know about ABSD and 10 tips to avoid it!

With the URA's release of its 3rd Quarter 2020 real estate statistics, we can learn that the private residential property index has increased since the 2nd Quarter. This increase can be seen in the table below. The increase of 1.2 points from 152.6 points in 2Q 2020 to 153.8 points in 3Q 2020 represents an increase of 0.8%, compared to the 0.3% increase in the previous quarter.

Specifically for condominiums (non-landed private residential properties), there was a strong performance in prices of condos in the Rest of Central Region (RCR) and Outside Central Region (OCR), while there was a sharp decline in the prices of condos in the Core Central Region (CCR). Prices in RCR increased 3.3%, compared to the 1.7% decrease in the previous quarter, and the prices in OCR increased by 1.7%, compared to the 0.1% increase in the previous quarter. Prices in CCR however has decreased by 4.9%, compared to the 2.7% increase in the previous quarter. This can be seen in the third chart below. 

COMPARISON OF PROPERTY PRICE INDEX FOR 2ND QUARTER 2020 AND 3RD QUARTER 2020

  Price Index1 % Change over Previous Quarter
2Q20 3Q20 2Q20 3Q20
All Residential (1Q09=100) 152.6 153.8 0.3 0.8
Landed Property 170.3 176.8 0.0 3.8
Non-landed Property 148.7 148.7 0.4 0.0
CCR2/ 134.6 128.0 2.7 -4.9
RCR3/ 150.0 155.0 -1.7 3.3
OCR 177.4 180.4 0.1 1.7
Read more: URA release of 3Q 2020 real estate statistics

How do I pick the right property agent? Now that you have decided to use a sales agent to assist you with either the sale of your property or your search to purchase a property, it is important to ask the right questions so to ensure that you are appointing a strong and reliable agent. In this article we will be covering all the things that you need to know and ask before you make the decision to appoint any specific agent. 

But if you are still thinking about whether you even need a sales agent, make sure to go to our last article by clicking here. In that article, we talk about everything  from the role of a property agent to what you can expect from an agent vs doing it yourself. 

So let’s begin shall we?

1. License

The first thing to do before appointing an agent is to check if they are licensed and registered with CEA (Council for Estate Agents). The CEA is a statutory board under the Ministry of National Development where they are responsible for the licensing of estate agents in Singapore. To check your agent’s registration all you have to do is to type in the agent’s name or registered mobile number to https://www.cea.gov.sg/public-register. The CEA is also who you can turn to if you have issues or a complaint against the conduct of your agent.

2. Experience

The second thing to check is the experience of your sales agent. Ask questions like how long have they been in real estate, what real estate company are they working for, what is their success rate, do they have a portfolio of closed transactions or active listings to show you, etc. These questions will reveal the strength of your sales agent. I mean it’s pretty straightforward. The more transactions (experience) they have, the better they are at handling your property through negotiations, deals or any problems that may occur. 

Read more: 7 Factors To Consider When Picking A Property Sales Agent!

As Singaporeans, one of our best qualities is our frugality. Wherever and whenever we can save the extra buck, we do it. And if there is an option to do it yourself, the better. But is it really worth skimping when it comes to buying and selling properties? There’s no doubt that you can buy or sell properties yourself. Hey, it’s the 21st century. It’s easy to just post your listing online, for free. But then again, should you?

A property agent’s job is more than just settling paperwork or posting properties online to bait buyers/sellers. In this article, we hope to broaden your mind to duties of your property sales agent and the many perks that come with finding a great agent.

In 2019, 81% of Sellers and 46% of Buyers used an agent (*data only available for HDB market)

It is crucial to make a distinction between buying and selling. The number of individuals buying property without an agent has undoubtedly increased over the years, with the ease of property portals providing individuals with the ability to search for relevant listings and information. On the other hand, we think sellers benefit the most from hiring an agent, and the market evidently agrees. With that in mind, let’s get started onto the first of five points on why you should use a property agent!

1. A smooth transaction aka an easy experience

It comes to no surprise that when you use a property agent your job will be 10 times easier. That’s the main reason why people hire agents in the first place right? Well, not really there’s a lot more to it than that. A smooth transaction only touches the surface. So what do we mean by that? To simply put it, your agent does everything. From the paperwork to dealing with buyer/seller enquiries, even the aggravating ones that waste your time, posting on property portals, coming up with creative ways to market your property, handling the property viewings, following up with interested parties, negotiating with the buyer or his agent, etc etc. 

Read more: 5 reasons why you need a property agent!

Back to find more property resale transactions? In this article we are showing you July landed property caveat date. So let's delve into it. In July we have seen many resale gains and minimal losses of only two in both semi-detached and detached landed properties. Curious to know the details? The data is shown below in according to their landed property types. 

Got a property you're looking to sell and a make a profit out of whether it be landed or condo? Then contact us via email at sales@auctionjia.com.sg or call us at 62232801, we are happy to be of service to you. 

For more property resale transaction data, click here to view our full series!

(Source for all tables : URA Realis)

Terrace House - Resale Gains

Address Area (sqf) Purchase Price ($) Purchase Date Transacted Price ($) Unit Price
($ psf)
Sale Date Gains (%) Annual Gains (%) Tenure Completion Date Postal District
XX Pasir Panjang Drive 2260 $ 2,360,000 May-11 $ 3,200,000 $ 1,413 1-Jul-20 26% 3% Freehold 1990 5
XX Lichi Avenue 1765 $ 2,360,000 Feb-16 $ 2,750,000 $ 1,554 24-Jul-20 14% 4% Freehold 1999 13
XX Jalan Muhibbah 2045 $ 2,000,000 Aug-17 $ 3,650,000 $ 1,787 3-Jul-20 45% 15% Freehold 2020 13
XX Jalan Melor 2400 $ 2,180,000 Feb-18 $ 4,078,000 $ 1,700 6-Jul-20 47% 23% Freehold 2020 13
XXX Bedok Road 2594 $ 2,150,000 Jun-07 $ 3,300,000 $ 1,271 3-Jul-20 35% 3% Freehold 2006 16
XX Bedok Garden 2131 $ 1,470,000 Aug-02 $ 3,028,000 $ 1,424 8-Jul-20 51% 3% Freehold 2004 16
XX Mariam Close 2196 $ 1,360,000 Jun-06 $ 2,810,000 $ 1,282 8-Jul-20 52% 4% Freehold 2006 17
XX Golden Walk 1615 $ 1,410,000 Jun-04 $ 3,000,000 $ 1,858 27-Jul-20 53% 3% Freehold 2004 19
XX Tai Hwan Crescent 1647 $ 1,410,000 Jul-97 $ 2,580,000 $ 1,568 13-Jul-20 45% 2% Freehold 1990 19
XX Eng Kong Drive 3079 $ 1,300,000 Oct-05 $ 3,300,000 $ 1,072 20-Jul-20 61% 4% Freehold 1996 21
XX Pavilion Green 1615 $ 2,580,000 May-12 $ 2,680,000 $ 1,660 24-Jul-20 4% 0% Freehold 2013 23
XX Pavilion Rise 1615 $ 1,670,000 Aug-09 $ 2,560,000 $ 1,586 1-Jul-20 35% 3% Freehold 2011 23
XX Pavilion View 2347 $ 2,400,000 Jul-10 $ 3,089,000 $ 1,319 27-Jul-20 22% 2% Freehold 2013 23
XXX Hazel Park Terrace 2400 $ 1,350,000 Jan-07 $ 3,050,000 $ 1,272 17-Jul-20 56% 4% 999 Yrs From 25/09/1882 1995 23
X Lentor Place 2034 $ 1,775,000 Jun-11 $ 2,725,000 $ 1,339 9-Jul-20 35% 4% Freehold 1992 26
XX Countryside View 1819 $ 1,975,000 Aug-11 $ 2,570,000 $ 1,414 13-Jul-20 23% 3% Freehold 1996 26
X Mimosa Place 2228 $ 1,519,000 Jun-06 $ 2,850,000 $ 1,277 22-Jul-20 47% 3% Freehold 2007 28
Read more: July landed property resale transactions

In the month of July, we have seen many resale gains and only one resale loss when it comes to executive condos. To find the exact details on these transactions, you may take a look at the tables below. However, if you have an executive condo that you are trying to sell, or maybe you have your eyes on one that you are looking to purchase, then why not take a look at some of the past month's resale transactions? This way you can have a better gauge on what the market prices are at the moment so you can better prepare yourself price wise. Here is our list of executive condo resale transactions from April 2020 onwards.

For more on this series including resale transactions for private condos and landed property, click here.

(Source for all tables : URA Realis)

Resale Gains:

Project Name Address Area (sqf) Purchase Price Purchase Date Transacted Price ($) Unit Price ($ psf) Sale Date Gains (%) Annual Gains (%) Completion Date Postal District
WATERCOLOURS 33 Pasir Ris Link #10-XX 1141 $ 891,800 Mar-13 $ 975,000 $ 855 21-Jul-20 9% 1% 2014 18
WATERCOLOURS 33 Pasir Ris Link #04-XX 915 $ 656,000 Jul-13 $ 760,000 $ 831 17-Jul-20 14% 2% 2014 18
WATERCOLOURS 35 Pasir Ris Link #08-XX 958 $ 699,900 Mar-13 $ 850,000 $ 887 13-Jul-20 18% 3% 2014 18
WATERCOLOURS 21 Pasir Ris Link #10-XX 969 $ 732,400 Aug-12 $ 850,000 $ 877 21-Jul-20 14% 2% 2014 18
THE TAMPINES TRILLIANT 23 Tampines Central 7 #13-XX 1001 $ 861,000 Apr-12 $ 1,150,000 $ 1,149 17-Jul-20 25% 3% 2015 18
THE TAMPINES TRILLIANT 17 Tampines Central 7 #10-XX 1130 $ 922,000 Sep-12 $ 1,170,000 $ 1,035 16-Jul-20 21% 3% 2015 18
THE EDEN AT TAMPINES 21 Tampines Street 34 #05-XX 861 $ 780,000 Jul-12 $ 780,000 $ 906 30-Jul-20 0% 0% 2003 18
THE EDEN AT TAMPINES 23 Tampines Street 34 #06-XX 1238 $ 970,000 Sep-16 $ 975,000 $ 788 28-Jul-20 1% 0% 2003 18
ARC AT TAMPINES 3 Tampines Avenue 8 #01-XX 1001 $ 651,100 Mar-12 $ 828,000 $ 827 14-Jul-20 21% 3% 2014 18
ARC AT TAMPINES 7 Tampines Avenue 8 #07-XX 958 $ 716,400 Mar-12 $ 900,000 $ 939 9-Jul-20 20% 3% 2014 18
ARC AT TAMPINES 9 Tampines Avenue 8 #06-XX 1152 $ 827,200 Nov-11 $ 1,050,000 $ 912 16-Jul-20 21% 2% 2014 18
AUSTVILLE RESIDENCES 11 Sengkang East Avenue #15-XX 1227 $ 916,000 Apr-11 $ 1,168,000 $ 952 17-Jul-20 22% 2% 2014 19
AUSTVILLE RESIDENCES 11 Sengkang East Avenue #08-XX 1227 $ 895,000 Nov-12 $ 1,180,000 $ 962 9-Jul-20 24% 3% 2014 19
ESPARINA RESIDENCES 121 Compassvale Bow #12-XX 1367 $ 1,082,000 Jan-11 $ 1,600,000 $ 1,170 3-Jul-20 32% 4% 2013 19
ESPARINA RESIDENCES 125 Compassvale Bow #03-XX 1001 $ 726,000 Dec-10 $ 1,010,000 $ 1,009 20-Jul-20 28% 3% 2013 19
TWIN WATERFALLS 114 Punggol Walk #03-XX 1238 $ 879,570 Jun-12 $ 1,170,000 $ 945 24-Jul-20 25% 3% 2015 19
TWIN WATERFALLS 104 Punggol Walk #13-XX 1087 $ 782,000 Jul-12 $ 1,058,000 $ 973 22-Jul-20 26% 3% 2015 19
TWIN WATERFALLS 104 Punggol Walk #09-XX 1087 $ 765,000 Apr-12 $ 1,070,000 $ 984 20-Jul-20 29% 4% 2015 19
RIVERPARC RESIDENCE 90 Punggol Drive #03-XX 1238 $ 833,000 Nov-11 $ 1,088,000 $ 879 6-Jul-20 23% 3% 2014 19
RIVERPARC RESIDENCE 90 Punggol Drive #04-XX 1238 $ 843,000 Nov-11 $ 1,090,000 $ 881 23-Jul-20 23% 3% 2014 19
RIVERPARC RESIDENCE 90 Punggol Drive #06-XX 1238 $ 849,000 Oct-11 $ 1,080,000 $ 872 1-Jul-20 21% 2% 2014 19
RIVERPARC RESIDENCE 94 Punggol Drive #05-XX 1227 $ 829,000 Sep-11 $ 1,025,000 $ 835 15-Jul-20 19% 2% 2014 19
BISHAN LOFT 31 Bishan Street 11 #31-XX 1141 $ 1,370,000 Apr-15 $ 1,390,000 $ 1,218 27-Jul-20 1% 0% 2003 20
THE QUINTET 38 Choa Chu Kang Street 64 #14-XX 1259 $ 499,000 Mar-06 $ 905,000 $ 719 9-Jul-20 45% 3% 2006 23
THE QUINTET 42 Choa Chu Kang Street 64 #18-XX 1259 $ 484,852 Mar-05 $ 970,000 $ 770 29-Jul-20 50% 3% 2006 23
THE RAINFOREST 337 Choa Chu Kang Avenue 3 #08-XX 1238 $ 936,000 Mar-12 $ 1,238,000 $ 1,000 27-Jul-20 24% 3% 2015 23
THE RAINFOREST 337 Choa Chu Kang Avenue 3 #10-XX 1249 $ 979,000 Nov-12 $ 1,350,000 $ 1,081 24-Jul-20 27% 3% 2015 23
THE RAINFOREST 343 Choa Chu Kang Avenue 3 #17-XX 1152 $ 900,000 Jun-12 $ 1,100,000 $ 955 28-Jul-20 18% 2% 2015 23
THE RAINFOREST 343 Choa Chu Kang Avenue 3 #11-XX 1367 $ 1,012,000 Feb-12 $ 1,290,888 $ 944 6-Jul-20 22% 3% 2015 23
NORTHOAKS 26 Woodlands Crescent #04-XX 1249 $ 492,200 Oct-98 $ 700,000 $ 561 3-Jul-20 30% 1% 2000 25
THE TOPIARY 23 Fernvale Lane #09-XX 1055 $ 789,820 Apr-13 $ 1,008,000 $ 956 29-Jul-20 22% 3% 2016 28
Read more: July executive condo resale transaction

If you have never been here before, it is now about the time where we bring up the numbers in our monthly caveat data series. In this series, we uncover resale transactions for private properties in three categories; private condos, executive condos and landed property. And in this article, we will be covering July's private condo resale transactions, where we show you the resale gains and losses of private condos in each of Singapore's 3 regions; the Core Central Region (CCR),  Rest of Central Region (RCR) and Outside Central Region (OCR).

To track our past monthly caveats simply click here.

(Source for all tables : URA Realis)

CCR - Resale Gains

Project Name Address Area (sqf) Purchase Price ($) Purchase Date Transacted Price ($) Unit Price ($ psf) Sale Date Gains (%) Annual Gains (%) Completion Date Postal District
EMERALD GARDEN 33 Club Street #10-XX 1313 $ 2,035,150 Jul-07 $ 2,450,000 $ 1,866 15-Jul-20 17% 1% 1999 1
EMERALD GARDEN 33 Club Street #09-XX 1033 $ 1,400,000 Jun-07 $ 1,975,000 $ 1,911 5-Jul-20 29% 2% 1999 1
VIDA 5 Peck Hay Road #15-XX 861 $ 1,630,000 Feb-16 $ 1,700,000 $ 1,974 8-Jul-20 4% 1% 2009 9
THE CLAYMORE 25 Claymore Road #02-XX 2680 $ 6,680,000 Mar-10 $ 7,500,000 $ 2,798 9-Jul-20 11% 1% 1985 9
RIVERGATE 93 Robertson Quay #14-XX 1798 $ 3,596,000 Oct-11 $ 3,800,000 $ 2,114 15-Jul-20 5% 1% 2009 9
URBANA 1 River Valley Close #33-XX 3229 $ 5,166,400 Aug-08 $ 5,400,000 $ 1,672 9-Jul-20 4% 0% 2007 9
THE COSMOPOLITAN 202 Kim Seng Road #09-XX 1141 $ 1,882,650 Jul-09 $ 2,500,000 $ 2,191 29-Jul-20 25% 2% 2008 9
THE MERCURY 38 Shanghai Road #07-XX 1044 $ 1,120,000 Mar-09 $ 1,830,000 $ 1,753 1-Jul-20 39% 4% 2012 10
THE MERCURY 38 Shanghai Road #18-XX 1927 $ 2,000,000 Jun-12 $ 2,450,000 $ 1,272 16-Jul-20 18% 2% 2012 10
REGENCY PARK 9 Nathan Road #25-XX 3649 $ 6,050,000 Dec-09 $ 6,450,000 $ 1,768 15-Jul-20 6% 1% 1990 10
LATITUDE 31 Jalan Mutiara #18-XX 2680 $ 5,064,000 Aug-09 $ 5,600,000 $ 2,089 21-Jul-20 10% 1% 2010 10
GRANGE RESIDENCES 95 Grange Road #13-XX 2583 $ 3,800,000 May-06 $ 6,280,000 $ 2,431 17-Jul-20 39% 3% 2004 10
BALMORAL GATE 33 Balmoral Road #06-XX 1259 $ 1,700,000 Jan-15 $ 2,140,300 $ 1,699 1-Jul-20 21% 4% 1994 10
BALMORAL HEIGHTS 8 Balmoral Crescent #02-XX 1270 $ 1,670,000 Jun-07 $ 2,250,000 $ 1,771 24-Jul-20 26% 2% 2004 10
AVALON 25 Anderson Road #07-XX 1163 $ 1,690,000 Jan-16 $ 2,170,000 $ 1,867 17-Jul-20 22% 6% 1999 10
DUCHESS RESIDENCES 110 Duchess Avenue #04-XX 1464 $ 2,708,400 Sep-11 $ 2,770,000 $ 1,892 7-Jul-20 2% 0% 2011 10
VIZ AT HOLLAND 221 Queensway #11-XX 1109 $ 1,225,000 Sep-08 $ 1,730,000 $ 1,560 7-Jul-20 29% 2% 2008 10
LUSH ON HOLLAND HILL 21 Holland Hill #02-XX 1561 $ 2,033,000 Jun-10 $ 2,365,000 $ 1,515 8-Jul-20 14% 1% 2012 10
SKY@ELEVEN 11 Thomson Lane #09-XX 2271 $ 2,384,550 Apr-07 $ 3,500,000 $ 1,541 29-Jul-20 32% 2% 2010 11
VIVA 8 Suffolk Walk #21-XX 1346 $ 2,039,640 Sep-09 $ 2,760,000 $ 2,051 9-Jul-20 26% 2% 2012 11
TEN @ SUFFOLK 10 Suffolk Road #13-XX 1206 $ 1,600,000 Oct-15 $ 1,780,000 $ 1,476 15-Jul-20 10% 2% 2006 11
EVELYN MANSIONS 20 Evelyn Road #01-XX 1227 $ 1,390,000 Apr-14 $ 1,750,000 $ 1,426 7-Jul-20 21% 3% 1997 11
PAVILION 11 25 Akyab Road #23-XX 1485 $ 2,380,000 May-14 $ 2,400,000 $ 1,616 16-Jul-20 1% 0% 2009 11
Read more: July private condo resale transactions
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