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Home equity loan is the loan available against equity in a property, which is calculated on the basis of its current market value.

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Father’s Day falls on 20 June 2021. For most Singapore dads, the celebration is poignant and often reflective due to the pandemic, as they spent the past 1.5 years being mostly at home with their children than being outdoors, travelling or working in the office.  In his book, Life Without Father (1996), Dr David Popenoe,...

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Rachel (not her real name) and her husband were in between selling and buying houses. So they had to rent for a year. Everything went well over the phone enquiries; one reason could be due to her English name. But when Rachel went to visit the house, the property agent started prying where she’s from...

The post We need to talk about racial discrimination in Singapore’s rental market  appeared first on 99.co.

If you’ve recently sold your flat and are looking to move into a home that’s in move-in ready condition, you’re probably looking to buy a resale condo. 

But with prices of resale condominiums rising due to pent-up demand, you may feel hard-pressed to find a condo that’s well within your budget. 

Don’t fret, however, because we’ve compiled a list of resale condos with 3-bedrooms that are $1.5 million and below.

Recommended article: New Launch Property vs Resale Condos in Singapore: Which is Better?

 

1. Edelweiss Park Condo

Condo	Edelweiss Park
3-bedroom size	1,270 to 2,680 sq ft
3-bedroom latest transacted price	$1.13 million
District	17
Tenure	Freehold
Completion year	2006

Edelweiss Park Condo is located in Changi, in a private area that’s cordoned off from suburban buildings and developments. What’s more, it’s a full facilities condo so you can find a wide-range of condo facilities for the whole family to enjoy, including a barbeque area, fitness corner, jacuzzi, tennis court, children’s pool, playground and swimming pool. 

At the point of writing, the condo is about 15 years old. However, as an older development, units are also spacious — the biggest 3-bedroom unit is 2,680 sq ft.

Changi Airport is less than a 5-minute drive away, and nearby amenities include Changi Jewel, Changi Village, Changi City Point. 

Nearby schools include The Japanese School Singapore, White Sands Primary School, East Spring Primary School, East Spring Secondary School, Dunman Secondary School, and Ngee Ann Secondary School. 

Find Edelweiss Park units for sale on PropertyGuru.

 

2.  Guilin View

Condo	Guilin View
3-bedroom size	1,259 to 1,830 sq ft
3-bedroom latest transacted price	$1.30 million
District	23
Tenure	99-year leasehold
Completion year	2000

Guilin View is a 99-year leasehold development located in Bukit Batok in District 23. The condo is surrounded by several nature parks and is known for having beautiful views of Little Guilin, which is adjacent to the condo. Being an old development, units are much bigger than newer condo developments. 

The development is only a 5-minute walk to Bukit Gombak MRT station and is also close to several other basic amenities including West Mall, which is five minutes by car. Moreover, Lianhua Primary School, Dazhong Primary School, Hillgrove Secondary School, and Swiss Cottage Secondary School are also nearby. 

The facilities offered by the condominium include a barbeque area, covered car park, clubhouse, gym, jacuzzi, jogging track, playground, a squash court, swimming pools, and tennis courts. 

Find Guilin View units for sale on PropertyGuru here. 

 

3. Hedges Park Condominium

Condo	Hedges Park
3-bedroom size	1,001 to 1,798 sq ft
3-bedroom latest transacted price	$1.30 million
District	17
Tenure	99-year leasehold
Completion year	2015

Hedges Park is a 99-year leasehold development located at Flora Drive in District 17. Like Edelweiss Park on this list, the condo is close to several nearby amenities in the Changi area, including Changi Airport, Changi Jewel, Changi Village, Changi City Point, and Changi Business Park. 

In addition to three different types of swimming pools, there’s also a clubhouse for hosting parties and gatherings, a gym, a basketball court, a tennis court, a steam room and landscaped gardens, among other facilities. 

In terms of accessibility, Tampines East MRT station, Upper Changi MRT station, and Simei MRT station are all close by, and if you drive, you can reach the CBD via Tampines Expressway (TPE), Pan-Island Expressway (PIE), and East Coast Parkway (ECP).

Find Hedges Park units for sale on PropertyGuru here.

 

4. Palm Isles

Condo	Palm Isles
3-bedroom size	990 to 1,324 sq ft
3-bedroom latest transacted price	$850,000
District	17
Tenure	99-year leasehold
Completion year	2015

Palm Isles in District 17 may not be very accessible by public transport, but if you drive, you can reach several key amenities in the Changi area within minutes (for example,Jewel Changi Airport and Changi Village). Furthermore, there are several wet markets and supermarkets nearby as well.  

There’s also a good range of condo facilities available, including a barbecue area, children’s pool, gym, steam bath, fitness corner, function room, lap pool, playground, tennis courts, and many more. 

Find Palm Isles units for sale on PropertyGuru.

 

5. River Isles

 

Condo	River Isles
3-bedroom size	893 to 2,088 sq ft
3-bedroom latest transacted price	$1.28 million
District	19
Tenure	99-year leasehold
Completion year	2016

River Isles in District 19 is a 99-year leasehold development and one of the newer condos that you can find in the secondary market. As such, you can expect to find most of the facilities in good condition. 

Although it is not within walking distance to an MRT station, accessibility and connectivity are decent. The condo is serviced by four LRT stations: Kadaloor station, Coral Edge station, Meridian, and Cove, and there are several bus stops closeby. 

As for schools, Greendale Primary School, Horizon Primary School, Mee Toh Primary School, Waterway Primary School, and Edgefield Secondary School are some of the nearby schools in the area. 

Find River Isles units for sale on PropertyGuru here.

 

6. Summerdale

Condo	Summerdale
3-bedroom size	1,195 to 2,045 sq ft
3-bedroom latest transacted price	$860,000
District	22
Tenure	99-year leasehold
Completion year	2001

Located at Boon Lay Drive in District 22, the 99-year leasehold Summerdale is a relatively exclusive development with only 432 available units. Furthermore, residents do not have to venture far to get basic amenities; Boon Lay Hawker Centre is just six minutes by foot, whilst there are also several other supermarkets and places to eat within walking distance. 

In addition, Jurong Point and Boon Lay Shopping Centre are a stone’s throw away, and there are also several schools nearby such as Boon Lay Garden Primary School, Dunearn Secondary School, River Valley High School, and Lakeside Primary School. Plus, Jurong Lake Gardens is just five minutes away by car. 

In terms of accessibility, Boon Lay MRT station and Lakeside MRT station are the nearest MRT stations (though they are quite a distance away). However, there are several bus stops in the area if you need to get to the MRT station or travel around. If you drive, you can reach Orchard Road via the Ayer Rajah Expressway (AYE), PIE or Tanglin Road in 30 minutes.

Find Summerdale units for sale on PropertyGuru here.

 

7. Hillview Regency

Condo	Hillview Regency
3-bedroom size	969 to 1,195 sq ft
3-bedroom latest transacted price	$1.05 million
District	23
Tenure	99-year leasehold
Completion year	2005

Located between the Bukit Batok and Hillview area in District 23, you may appreciate Hillview Regency if you want to live close to nature. The condo is within close proximity to several nature parks, including Bukit Batok Nature Park, Dairy Farm Nature Park, and Bukit Timah Nature Reserve.

Bukit Batok MRT and Bukit Gombak MRT are the nearest MRT stations and by 2025, the upcoming Hume MRT station on the Downtown Line (DTL) will also be a short distance away, providing residents direct access to the Downtown area. 

There are also a few schools in the area such as Keming Primary School, Bukit View Secondary School, Lianhua Primary School, Hillgrove Secondary School, and Yusof Ishak Secondary School. Furthermore, there are several supermarkets nearby and the Bukit Batok Town Centre is also just a short walk from the condo. 

Find Hillview Regency units for sale on PropertyGuru here.

 

8. Sandy Palm

Condo	Sandy Palm
3-bedroom size	1,249 to 1,528 sq ft
3-bedroom latest transacted price	$860,000
District	17
Tenure	99-year leasehold
Completion year	2002

Sandy Palm is a boutique condo development with only 48 units. This means that residents can enjoy more privacy as well as exclusivity compared to larger developments. 

The condo is ideal for families who enjoy spending quality time outdoors; just a stone’s throw away from the development are several recreation places: Pasir Ris Beach, Pasir Ris Park, and Wild Wild Wet @ Downtown East. 

In terms of amenities in the area, nearby schools are Pasir Ris Crest Secondary School, Hai Sing Catholic School, Pasir Ris Primary School, and Loyang View Secondary School. There are also a few places to eat around, including the Pasir Ris Central Hawker Centre, which is five minutes away by car. 

Find Sandy Palm units for sale on PropertyGuru here. 

 

Other FAQs Related to Resale Condos

Do Condo Values Go Up?

Condos generally appreciate in value, however, do remember that this is largely dependent on factors such as location, nearby amenities, remaining lease, etc. 

Can I Use CPF to Buy Resale Condo?

Yes, you can. However, you need to pay a 25% downpayment when buying a resale condo. Out of this, 20% can be CPF, or a combination of cash and CPF. 

What Should I Look For in a Resale Condo?

Aside from price, you should also look at the tenure or remaining lease, condo management, location, amenities in the area, unit size, number of units in the development, and types of facilities available.

 

For more property news, resources and useful content like this article, check out PropertyGuru’s guides section. 

Are you looking to buy a new home? Head to PropertyGuru to browse the top properties for sale in Singapore.  

Already found a new home? Let PropertyGuru Finance's home finance advisors help you with financing it.

 

This article was written by Victor Kang, Digital Content Specialist at PropertyGuru. When he's not busy churning out engaging property content* or newsletter copies, he's busy being a lover of all geeky things. Say hi at: victorkang@propertyguru.com.sg

*I mean, I'll try

If you live in a condo, you will receive a yearly invitation from your condo management, otherwise known as Management Corporate Strata Title (MCST), to attend the annual general meeting (AGM).

Whilst most people tend to skip the AGM without giving it a second thought, it pays to be involved in the discussion because it affects your property's value and rentability, among many other things.

So, without further ado, here are four reasons why you should be an active member in your condo AGMs. 

 

What Is the MCST?

As explained above, the MCST is basically your condo management/council. 

For new condo developments, the developer will employ a condo management company for about two months after the Temporary of Occupation (TOP) date. After the first AGM however, the property owners can choose to decide whether to appoint another condo management firm, form a management committee consisting of existing property owners, or stick with the existing management company employed by the developer. 

In most cases, a condo management may also employ a managing agent to handle day-to-day administrative and operational tasks such as ensuring that staff have a proper schedule, tending to car park matters, dealing with residents’ complaints and queries, etc. 

In general, here’s a lowdown of what your condo management or MCST does:

• Take care of common shared facilities in condos such as parking space, gardens, swimming pools, perimeter fence, security systems, gym and sports facilities
• Managing the staff’s (cleaners, gardeners, plumbers, electricians, technicians, security guards and other personnel needed) payroll to keep the development in good working order
• Collect maintenance fees from strata title (property) owners 
• Upgrading or creation of new facilities

Each month, the condo owners will pay a monthly maintenance fee to the condo management/MCST for the management of the tasks mentioned above. Depending on several factors, the fee can vary from a few hundred to even four-digit figures. 

Since you’re paying a monthly maintenance fee, it’s only fair that you should know what your MCST is doing with the collected funds. Hence, it’s important to be part of your condo’s yearly AGM, since that’s when all these matters are discussed.

 

4 Reasons You Should Join Your Condo’s AGM 

Here are our four most compelling reasons why you should attend your condo’s AGM:

1. The AGM Will Discuss The Maintenance of Your Condo, Which Directly Affects Your Condo’s Value

Things are usually rosy in the first few years of living in a new condo. However, problems will start to arise as your condo begins to age; especially if there’s negligence or a lack of proper maintenance of the facilities.

Some examples would be lifts that frequently break down (or are too slow), rusty and malfunctioning gym equipment, poorly maintained swimming pools, or underground car parks that look dirty and dark (or worse, if there’s graffiti). 

Why does this matter? The overall condition of your property plays a big part in your condo’s resale and rental value. If the general upkeep of the facilities is poor, it’s likely that you would also see your property’s value drop. 

Remember that you would probably also face competition from other projects in the area, including new and upcoming developments. If your condo isn’t well-maintained, buyers and tenants would most likely gravitate toward projects that are newer or better maintained.

That’s why being part of your condo’s AGM will help. During meetings, you get to raise concerns on the general upkeep of the property, or highlight something that needs to be repaired/replaced. These issues may seem small at first, but they will affect your property’s value in the long-run.

2. You’ll Know Exactly Where the Funds Are Going

As condo owners, you pay a monthly maintenance fee to your condo management for general upkeep. Naturally, you would expect the condo to be in tip-top condition. But if something breaks down, then you would begin to question where the money is spent. 

By being part of the regular AGMs, you will be informed on where the funds are going. For example, how much is being used to pay for lift repairs, whether funds have been used to address the water seepage issues, quotation for repairing the estate, and so on. You would also know whether the management has worked to try and rectify the problem, but maybe do not have sufficient funds to repair it. 

As such, you get a better overall picture of your MCST’s performance or whether your management is paying notice to the concerns raised. This would help you make a better-informed decision when you have to vote. 

3. You’ll Have a Say in What You Want to See Improved and Can Vote for It

The AGM is the only time of the year where the owners, council members, and board of directors come together to discuss the affairs of the condo. Not only will you get to hear the concerns of others, but also have the chance to provide your input. 

Being part of your AGM gives you the opportunity to vote for important issues or changes that you want to happen. For example, if you want to suggest the installation of electric vehicle (EV) charging lots. As Singapore gears towards a greener and sustainable future, having EV charging lots will not only benefit future EV owners, but also help to future-proof your condo over the next few years.

4. You Get to Keep Your Management in Check 

Aside from voting, you also have the chance to keep your condo’s council in check. For example, in 2017, residents of One Canberra executive condo (EC) were livid when the management agent planned to hold its first annual AGM at the Orchid Country Club for $19,000. After pressure from residents and community leaders, the venue was eventually shifted to the Chong Pang Community Club for less than half of the cost. 

As a resident, you have the right to keep your council’s integrity, so that no group or single person can dominate the decision-making process. For example, if the council suggests building a new water feature fountain for $10,000, but no one turns up at the AGM to go against it, then they can go ahead without any opposition.  

Also, it’s important to be involved in AGMs especially during financial reports. Typically, there will be an elected auditor who is tasked with auditing the condo’s account and disclosing financial statements.

Remember, the auditor represents the condo owners and thus is responsible for reporting to you and not to the council. If you’re not part of your AGM, you’re basically giving up your right and opportunity to question the auditor or council in regard to the financial health or operating expenses.

 

Conclusion: You Only Stand to Gain From Attending AGMs!

Most residents take it for granted that the management is managing the funds properly/efficiently. But you can’t be certain what the funds are being used for, unless you’re part of the AGMs. 

Whether you’re living at the property or renting it out to tenants, it’s important to be involved in the general discussions and decision-making because you get to understand everyone’s concerns, whilst ensuring that the general maintenance is well-managed.

Other FAQs on Condo AGM

What is a Condo AGM?

The annual general meeting (AGM) is where the condo management will provide a financial report and annual report to the condo owners. Owners and stakeholders also discuss the challenges that they face, as well as improvements that they want to see implemented.

When Is the AGM Held?

According to the Building Maintenance and Strata Management Act
(BMSMA), the AGM is held once a year, and not more than 15 months from the preceding AGM.

Who Can Attend the Condo AGM?

Condo owners, council members, as well as relevant stakeholders can attend the condo AGM. 

 

For more property news, resources and useful content like this article, check out PropertyGuru’s guides section. 

Are you looking to buy a new home? Head to PropertyGuru to browse the top properties for sale in Singapore.  

Already found a new home? Let PropertyGuru Finance's home finance advisors help you with financing it.

 

This article was written by Victor Kang, Digital Content Specialist at PropertyGuru. When he's not busy churning out engaging property content* or newsletter copies, he's busy being a lover of all geeky things. Say hi at: victorkang@propertyguru.com.sg

*I mean, I'll try

Looking for an HDB room for rent but on a tight budget?

Whether you need an interim place to stay while waiting for the (delayed) construction of your BTO flat, or you’re looking for a new place to stay (that’s available immediately), below are eight HDB rooms that are $800 or below monthly. Psst, they’re also mostly in move-in ready condition!

 

1. 958 Hougang Street 91

Furnishing	Fully furnished
Size of the room for rent	120 sq ft
Nearest MRT station	Hougang MRT
Monthly rental	$700

It’s no secret that the cost of renting in the city is high, so if you’re on a tight budget, it’s likely that you have to rent someplace that’s further away. 

But that’s not to say that you can’t find somewhere that’s still reasonably well-connected to the city with affordable monthly rent. This common bedroom in 958 Hougang Street 91, for example, is just a 11-minute bus ride to Hougang MRT on the North-East Line (NEL), which takes you to Dhoby Ghaut MRT station in just eight stops. 

The bedroom also comes fully furnished with a queen bed, wardrobe, and vanity table. Plus, there’s aircon and WiFi included.

In terms of amenities, the block is just a stone’s throw away from Hougang 1 Mall as well as several coffee shops and convenience stores. 

Checkout this unit’s listing on PropertyGuru.

2. 55 Marine Terrace

Furnishing	Fully furnished
Size of the room for rent	139 sq ft
Nearest MRT station	Kembangan MRT
Monthly rental	$750

This fully-furnished bedroom at 55 Marine Terrace comes with a queen bed, TV, aircon, wardrobe, and WiFi. According to the listing, you’re also allowed to cook your own meals in the kitchen.

Whilst there aren’t any MRT stations nearby, the Marine Terrace Market and Food Centre, as well as amenities like supermarkets and convenience stores are right at your doorstep. 

Most notably, however, the popular East Coast Park is just minutes away (which few can brag about), and popular restaurants and shopping malls in the nearby Katong area are within a 10-minute bus ride.

Checkout this unit’s listing on PropertyGuru. 

3. 375 Clementi Avenue 4

Furnishing	Fully furnished
Bedroom size	150 sq ft
Nearest MRT station	Clementi MRT
Monthly rental	$750

This bedroom in 375 Clementi Avenue 4 comes with a new aircon unit, wardrobe, bed, study desk, and WiFi.

The best part about living here is that the Clementi MRT and Clementi Mall/Cityvibe Mall are only five minutes away by foot. Eateries, shops, and supermarkets are also within walkable distance. 

And if you work in the Jurong area, then your commute time won’t take more than 15 minutes. Moreover, Buena Vista, Queenstown, and one-north are also a few MRT stops away. If you’re travelling to the CBD area, expect a 25-minute MRT journey.  

Checkout this unit’s listing on PropertyGuru. 

4. 259 Bukit Batok East Avenue 4

Furnishing	Fully furnished
Bedroom size	200 sq ft
Nearest MRT station	Bukit Batok MRT
Monthly rental	$800

Do you want to live close to nature, with several nature parks in the vicinity? Then this common room at 259 Bukit Batok East Avenue 4 is probably what you’re looking for. Bukit Batok Nature Park is right at the corner, and Bukit Timah Nature Reserve, Dairy Farm Nature Park, and Little Guilin are a short distance away. 

The unit is located on the top floor and comes furnished with a queen bed, wardrobe, and study table. WiFi is also included in the rent.

There are no MRT stations within walking distance, however, there are several eateries, supermarkets, and convenience stores around, as well as shopping malls such as West Mall, The Rail Mall, and HillV2.

Though it isn’t near to the city, your commute to the city is pretty straightforward; you can either travel from Bukit Batok MRT to Jurong East MRT station and switch to the East-West Line (EWL), or travel via Hillview MRT on the Downtown Line (DTL).  

Checkout this unit’s listing on PropertyGuru. 

5. 350 Bukit Batok Street 34

Furnishing	Fully furnished
Bedroom size	180 sq ft
Nearest MRT station	Bukit Gombak MRT
Monthly rental	$650

This room at 350 Bukit Batok Street 34 comes fully furnished with an aircon, a queen bed, wardrobe, and study table. It’s also a corner unit so you can expect some privacy. For $650, the price is quite reasonable, but do note that you’re not allowed to cook. 

However, that’s not too bad considering that there are plenty of places to eat in the area. The block is also conveniently located within walking distance to amenities, including Bukit Gombak MRT and Bukit Gombak Town Centre, which are five minutes away. The latter offers various other eateries, shops, and services.

Last but not least, Bukit Batok Nature Hillside Park, Seng Chew Quarry, and Little Guilin are all nearby too—great if you love hiking or want to be close to nature.

Checkout this unit’s listing on PropertyGuru.

6. 772 Bedok Reservoir View

Furnishing	Fully furnished
Bedroom size	120 sq ft
Nearest MRT station	Bedok Reservoir MRT
Monthly rental	$800

This place is probably for you if you enjoy living in a quiet neighbourhood that’s close to parks. 

As the name suggests, 772 Bedok Reservoir View is close to Bedok Reservoir Park, which is a great place for exercise or if you enjoy outdoor activities. In addition, the Bedok Park Connector is at your doorstep, and the network links to East Coast Park, Changi Beach Park, and Pasir Ris Park. Aside from that, hawker centres, shops, cafes, and markets are just a quick stroll away.

As for the room, it’s fully furnished and comes with a queen bed, a built-in desk, cabinet, and aircon, whilst utilities and WiFi are also included in the rent.

Checkout this unit’s listing on PropertyGuru. 

7. 211 Serangoon Avenue 4

Furnishing	Not furnished
Bedroom size	200 sq ft
Nearest MRT station	Serangoon MRT
Monthly rental	$800

This common room in 211 Serangoon Avenue 4 has just been renovated and so you can expect more comfort since the fixtures are brand new. However, the room is not furnished, so you would need to get your own furniture. The good news is that you can easily find affordable furniture on Taobao or pre-loved furniture at secondhand furniture shops for cheap.

If you’re into running or swimming, the Serangoon Stadium and Serangoon ActiveSG Swimming Complex are opposite the block, and there are also several other eateries and shops in the vicinity. 

NEX Shopping Mall and Serangoon MRT are about 15 minutes by foot, but they’re just eight minutes away by bus.

Checkout this unit’s listing on PropertyGuru.

8. Block 125 Pending Road

Furnishing	Fully furnished
Bedroom size	135 sq ft
Nearest MRT station	Bukit Panjang MRT
Monthly rental	$750

For just $750 per month, you get to rent this common room that comes fully furnished with brand new furniture (queen bed, air-conditioning unit, wardrobe, study table and chair), so you don’t have to worry about old/broken furniture and appliances. On top of that, the rent also includes high-speed WiFi and utilities. 

Although the nearest MRT station is not within walking distance, Pending LRT is just two minutes away by foot and two stops away from Bukit Panjang MRT station. 

Furthermore, there’s also a good choice of food options in the area, such as Bukit Panjang Hawker Centre, Kim San Leng Food Centre, and Chean Heng Eating House, and more. 

Checkout this unit’s listing on PropertyGuru.

 

Other FAQs on HDB Room for Rent

Who Can Rent an HDB Room?

Anyone can rent a HDB Room, however, you’re not allowed to rent on a short-term basis and the minimum rental period must be at least six months. You’re also only allowed to rent for residential purposes only. 

What Is the Minimum Rental Period for Renting a Room in HDB Flat?

The minimum rental period is six months.

Can Tourists Stay in an HDB Flat?

Tourists are not allowed to rent any HDB flat or bedroom. To be eligible to live in an HDB flat, you must be either a Singaporean, Singapore Permanent Resident, or hold a valid pass (Employment Pass, S Pass, Work Permit, Student Pass, Dependant Pass, or Long-Term Social Visit Pass) that has a validity period of at least six months.

 

This article was written by Victor Kang, Digital Content Specialist at PropertyGuru. When he's not busy churning out engaging property content* or newsletter copies, he's busy being a lover of all geeky things. Say hi at: victorkang@propertyguru.com.sg

*I mean, I'll try

4,607 units were sold during the first quarter of 2021, with demand likely spurred on due to COVID-19 construction delays.

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