Realtor logo

Category: News

What is the park colonial condo property tax in Singapore now

Property Taxes! Are these taxes lower for condos? Are they lower for townhouses? If you’re seriously planning on owning a new home, these are some issues you should consider when it comes to buying a condo or townhouse for your own stay. There’s often the debate of whether or not buying a condo or a townhouse will save you the most on property taxes.

This seems like a legitimate debate, but for those who are not sure about taxes between both property types, this article will help you to understand the differences between the two.

Townhouses and condos have distinct differences

Understanding the differences between a condo and a townhouse is great for knowing the distinctions between both properties and how they are sold to you. The purchase of Park Colonial Condo Singapore will provide you ownership of a particular area within the condo building. With a townhouse you’ll own the full plot of land as well as maybe having sole ownership of the property around the house, per the bylaws that has been drafted by the authority. With both properties you can own with sharing ownership of common areas, especially in a condo. If you own a Park Colonial Condo @ Woodleigh MRT, you take up co-ownership of the communal spaces that’s outside of your residential unit space. It also makes a difference on the way you’re taxed for the property.

What are the factors that affects property tax?

The amount of property taxes that you must pay at the end of the year stems from two main factors. First of all, determination of your assessed home value is a factor. An assessor, assesses the necessary things that are taxable like acreage, number of bedrooms, number of baths, square footage, and even comparable condos or townhouses in the immediate area that you live in. These things are determinant of how much you’ll pay in yearly property taxes. The second factor is the mill levy, which is the tax rate for the area that you live in. It is also expressed in a determined percentage. The mill levy of your area is focused on number of parks, public schools, and local emergency aid like police precincts, fire departments, etc. The more in-town amenities that your town has, you will have a higher mill levy.

Are condo or townhouse property taxes lower?

Due to the factors which includes size, number of bedrooms and square footage and more, you will typically pay lower taxes on both a townhouse and a condo. These taxes are lower than that of the detached single-family home. Both condos and townhouses have lesser space than a single-family home. Living in a condo, taxpayers will share their due tax for land and other common areas, including the lobby, hallways and stairs. People living in townhomes may or may not be solely responsible for paying land taxes but are certainly solely responsible for paying taxes on the townhome. On average townhouses and condo taxes are lower than single-family homes, but within the same taxable range.

Artra Redhill Condo by Tang Group of Companies

Artra Redhill Condo by Tang Group of Companies

Have you ever wondered why majority of our citizens are chasing after the quality of life in every corner of our island? Is it due to the relentless prosperity our city state have been enjoying over the past few decades? Whatever the reason may be, it became much more evident and justifiable on residing within a private condo over a housing board flats anytime.

In terms of the many amenities offered by the private developer as compared to the shared communal public facilities, it is certainly a no-brainer in choosing the former. Although it comes with a maintenance fee price tag, residents are generally well-to-do enough to support these incentives.

One such development lately will be this Artra Redhill Condo, it is currently under construction and developed by Tang Group of Companies. They have won the plot of land parcel during a public tender exercise released by the Urban Redevelopment Authority of Singapore, it attracted many keen bidders during then, due to the attractiveness of being adjacent to Redhill MRT station.

The winning factor does not lie on being next to the train station alone, it is also a piece of mixed site plot of land, meaning the successful bidder will be able to build a residential development with commercial component within the entire project. How cool is that? It is the only such development in the neighbourhood and will be a landmark for many years to come due to the prominent locale.

This is certainly one of the few reasons to purchase this premium Artra redhill condo, especially by our hdb upgraders around the vicinity. It is situated in a very mature and established neighbourhood and sitting right next to our major transportation node.

It is almost exactly the main reason why it attracts the residents already residing around the same town or next. Not only does the condo provide nice amenities for them, it is also a mixed development right next to MRT station. It’s like having the best of both worlds within a specific location.

As a resident of the artra condo, you will be able to rest longer in the night than your colleagues who live further than you and you will also be able to reach home earlier for dinner as compared to them. Who has the edge in just three stations to our Central Business District (CBD)? No doubt, all the conveniences stated here will come with a heavy price tag and it’s a big-ticket item of your life, but would you trade in your money for all of these when you can afford to pay for the monthly instalment? Are you one of the person along the streets that will be chasing after the endless good quality of life that I’ve mentioned earlier?

Well, if you’re looking to upgrade your lifestyle by purchasing a condo of your own for your family, Artra Condo by Tang Group could be your best bet in Redhill or Alexandra Road precinct.

Margaret Ville Singapore Condo

Margaret Ville Singapore

Singapore – As of December 2016, MCL Land has since emerged in a brutal competition by being the best of the best in beating 13 other major customers for a precious residential land site along Margaret Drive in Singapore. The highest price bid of $238 million came from MCL Land (Regency), a wholly-owned subsidiary under the Hongkong Land Holdings. It translates to a reasonable $997 per square foot per plot ratio according to the black paper.

Based on the maximum allowable gross floor area (GFA) of this land parcel which could yield about three hundred homes in future, it is only about eight percent more than the second highest bidder Allgreen Properties at $220 million.

Such intense and aggressive bids for a city fringe leasehold land shows the extreme hunger of local and foreign major property players. Not only are they super hungry in their own land bank inventory, but it is also an indication that all of them are reading the future market outlook positively.

Betting big on a real possible upswing in real estate prices, simply by timing the sales period of their new project when it is ready for them to put in the market for sale. Said JLB International, a director for research and development Mr Mohd Sohai.

This rare and exclusive land parcel came from the Reserve list site, under our state land sales program that was called for a tender procedure soon after a prominent builder submitted their application and promised to bid at a price level which satisfies the government. It was eventually made known to be at least $186 million for it in November, a baseline for all interested parties.

Margaret Ville breakeven price

According to market watchers, based on MCL’s best price bid, the breakeven price point range for this site is expected to be between $1,450 to $1,550 per square foot when it is ready for sale.

The strong and solid involvement from 14 major customers, and a slightly higher than anticipated best bid of $997 per square foot per plot ratio doesn’t come as unexpected to market observers. Given the nice attributes of this premium site and the relatively palatable land size made it so much easier to digest with the smaller price tag since market outlook seems bearish at that very moment. Mr Mohd Sohai said.

The result of this positive tender exercise could also encourage the state land department in releasing more land parcels while planning for their subsequent years program. In view of the higher bidding price war interest coming from major players in the industry market, that will be one of the main source of income for the country when the land is scarce and precious.

Among the big boys in this industry, CB research mind for Singapore and Asia Pacific, Mr Alan Smith had observed the insatiable needs of major builders from this hotly contested tender exercise. Some of those participated have not even successfully secured any lands in their inventory over the past 18 months.

Will Singapore home prices rise by 8% in 2018

will home prices rise 8%

According to Morgan Stanley, a Singapore style property bull run may last till 2020, estimating the city state home prices to climb by at least 8 per cent in 2018.

Property analyst Mr Wilson of Morgan Stanley said, valuations across all Singapore developers were deemed to be very attractive in terms of allowances to net asset value as well as P/B ratios. They have especially high ratings for both City Developments (CDL) and CapitaLand currently.

Fund managers foresee that shares of Singapore property holdings will experience a rally from now till 2018 at least on a bottoming out housing market. After gaining double digits in 2017, Mr Wilson sees a 24% and 42% jump in shares in the coming 12 months from both City Developments and CapitaLand respectively.

Property firms in Singapore are already on track for their best performance since 2012 while developers such as UOL Group and City Developments are the winning performers this year.

There are many promising signals prompting a Singapore property market revival such as record land deals in value, the first ever home prices increase in the past 4 years and the collective sales fever going forward.

However, this seemingly buoyant sentiment has been somewhat thwarted by a statement issued from the Monetary Authority of Singapore (MAS), flagging the risk of more unsold residential units amid the slowing down of population growth but according to property watchers, every residential project requires a minimum of 3 years to completion thus the risk of having oversupply damage does not look that imminent.

In fact, most of the resulting development numbers will not hit the local market before 2020 as the city state only began to increase the supply of available land for open tender bidding. Said Mr Raj, director of Tolaram family, managing US$500 million and owning shares in Singapore listed property firms CapitaLand, Guocoland and Frasers Centrepoint.

Having said that, it doesn’t seem like everyone is being positive on Singapore’s property market. Mr Teo, a trading strategist from KGI Securities (Singapore) shared that there are essentially a lot of factors in play for any sustainable home prices rally. They include the rising interest rates from the US Federal Reserve, rising vacancy rates and weaknesses in the domestic rental demand. Additionally, the government has in place some of the most stringent home buying restrictions that will probably limit the home prices from sky rocketing.

So which camp will you be sitting on?

Will you be the firm believer on the up cycle preparing for a fantastic bull or the bearish side of crowd hoping to witness more turbulence on the local market scene?

If you are bracing yourself for a bull run and considering making a purchase or invest on our local property market in the next few months like everyone do to avoid the “impending” increase of 8 per cent forecast then probably and most likely, home prices in Singapore will continue to increase albeit rather slowly as compared to bitcoin!

But if you’re still sceptical about the outlook of it, please hold on tight to your cash and we shall come back to this page again at the end of 2018.

Can Foreigners Buy Property in Singapore?

Singapore is in a firm position as one of the most prominent destinations for investing in properties since 90’s. A lot of people who have invested in Singapore in earlier days have tripled their wealth. The most common question raised is, can foreigners buy property in Singapore?

Property in Singapore


  • In the year 1973, the Singapore Government forced limitations on foreign ownership of private property in Singapore. The Residential Property Act administers such possession.
  • The Act intends to give Singapore locals a stake in the nation by having the capacity to purchase and have their own particular private property at a moderate cost. They also support foreign talents by permitting them as permanent occupants. Foreign companies that make an economic contribution to Singapore to buy such properties for their own particular occupation are also encouraged.
  • The Residential Property Act (RPA) is then changed on 19 July 2005 to enable non-natives to buy flats in non-apartment suite establishments of below 6 levels without the need to get an earlier endorsement.
  • Restricted properties, for example, empty land, landed properties, for example, cottages, semi-isolated, and porch houses may still need prior approval if a foreigner wants to purchase them. Landed properties are a unique class of private property that Singaporeans try to claim, and ought to remain restricted. Non-natives need to apply for an approval from Singapore Land Authority before purchasing.

Non-restricted Properties:

  • Foreigners are not limited from purchasing the following properties,
  • Buildings and constructions approved as condo developments under the planning act
  • An apartment flat in a building with less than or equal to 6 levels
  • Privately owned phase I and phase II flats and HUDC flats

Restricted Properties:

  • Foreigners are limited from purchasing the following properties,
  • Empty land
  • Residential properties, Bungalows, houses in terraces, and detached houses
  • Residential property in a building which has fewer than 6 levels

Other requirements:

  • You may need to consider some factors, for example, your age, pay level, and aggregate obligation ensuring that you are an EP holder, your monthly salary must be above $3000. Thus buying a property of significant worth between $500,000 shouldn’t be excessive of an issue. There is no restriction for a foreigner who wishes to buy commercial property in Singapore.
  • Even if you are a foreigner (who isn’t a PR), the Singapore government has cut out a special case to such an extent that you are qualified to purchase a limited private property at Sentosa Cove. For these properties, you can get a fast-track permit and approval from the Singapore Land Dealing Unit.