PropertyBT: Is it worth paying a premium for a new private home? (Ep 20)

Should one buy a new or resale home amid high interest rates? PHOTO ILLUSTRATION: BTVISUAL

Published Thu, Jun 22, 2023 · 06:44 AM

With high interest rates, does it make more sense to buy a new uncompleted home instead of a completed resale home? Examine the pros and cons of buying new versus resale. Is maxing out the use of CPF funds on a home purchase wise? Crucially, should one hold back on buying a private home because of high interest rates and economic uncertainty? Senior correspondent Leslie Yee does a deep dive with ERA’s key executive officer Eugene Lim.

Synopsis: Hosted by senior correspondent Leslie Yee, PropertyBT from The Business Times shares insights on all things Singapore property to help you on your property investment journey. Episodes feature views and insights from property analysts.

Highlights of the podcast:

01:13 Paying using the progressive payment scheme

07:01 Pros and cons of new versus resale units

11:06 Financing home purchases with CPF funds

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13:23 Timing the market

15:25 Is it sensible to rent?

Read Leslie’s article

PropertyBT: Foreigners’ love for Singapore property (Ep 19)

With high interest rates, developers may benefit from buyers choosing new homes sold off-plan because of the progressive payment scheme.

New uncompleted private homes may be better buys than resale units amid high interest rates

In line with government efforts to optimise land use, the land where the Singapore Turf Club in Kranji sits will be redeveloped for housing and other developments.

Supply is ample, yet there is value in Singapore property

Car-owning private home buyers may need to be increasingly savvy in finding homes where they can park their cars fuss-free.

Buying a condo? Check if there are enough car park spaces

Including ECs, which are a public-private housing hybrid, developers sold 1,055 units last month.

New private home sales up 17% in May from April, on the back of a doubling in launches

ULI notes that the median price of Singapore’s private-sector homes now stands at US$1.2 million, compared with Hong Kong at US$1.16 million.

Singapore private homes the most expensive to own and rent in Asia-Pacific: report

Written and hosted by: Leslie Yee (lyee@sph.com.sg)

With Eugene Lim, key executive officer, ERA Realty Network

Edited by: Howie Lim & Claressa Monteiro

Produced and edited by: Janice Tan

Recording engineer: Joann Chai Pei Chieh

Produced by: BT Podcasts, The Business Times, SPH Media

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Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice.

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