Shawn Wee Properties

05/08/2024

𝐖𝐡𝐚𝐭 𝐲𝐨𝐮 𝐧𝐞𝐞𝐝 𝐭𝐨 𝐤𝐧𝐨𝐰 𝐚𝐛𝐨𝐮𝐭 𝟗𝟗-𝐭𝐨-𝟏 & 𝟏𝟎𝟎-𝐬𝐞𝐥𝐥-𝟏 𝐒𝐡𝐚𝐫𝐞𝐡𝐨𝐥𝐝𝐢𝐧𝐠 𝐀𝐫𝐫𝐚𝐧𝐠𝐞𝐦𝐞𝐧𝐭𝐬

99-to-1 means a buyer with a 99% ownership together with a buyer with a 1% ownership

There have been some articles on the news reporting that IRAS has cracked down on buyers using a 99-to-1 arrangement. This may be misunderstood, as not all instances of 99-to-1 are not allowed. What's actually prohibited is the "100-sell-1" loophole.

The difference between the 2 arrangements and main info would be on slide 4:
‣ So a 99-to-1, 1 step transaction, with both First time buyers, is Ok
‣ But a 100-sell-1, 2 step transaction, whereby a 100% Ownership First time buyer sells 1% to Existing Property Owner, with the intention of tax avoidance, is Not Ok

These buyers would have had their transactions disregarded as individual transactions, and have them assessed as a single joint purchase. In doing so, the right amount of ABSD due is to be recovered, along with a 50% surcharge 😧

Wishing this is useful to your property plans!

26/06/2024

May was a flurry of deals, a couple of rentals, and a record breaking HDB sale!
Why does it have to happen all of a sudden sometimes though?

Thankful for the clients and friends who entrusted me with their properties,
As well as the team support around all this 🙏

Here's to keeping it consistent 💪

11/06/2024

Thank you company for featuring the exclusive listing for my Seller along the ERA Building at Toa Payoh

Well located next to the HDB hub, prospective buyers and heartlanders take this path in their daily commutes, headed out to the town centre after their HDB appointments, or perhaps walking to the MRT, bringing maximised exposure for my seller’s listing ☀️🏡

If you are in the area, please feel free to check it out!

01/05/2024

Blessed Labour Day!👷‍♂️
Here would be some updates regarding the HDB market for Apr 2024 in Bukit Merah / Queenstown 🏠🏠

15/04/2024

Glad to have the opportunity to market this suite of beautiful Studio and 2 Bed 2 Bath units for Rent

Along Rochor Road, these gorgeous Conservation Shophouse Apartments are located in the heart of Bugis!

Next to Bugis+ and right opposite Bugis Junction and Bugis MRT Interchange station, it is well connected to town and the CBD by the East-West and Downtown Lines.

With prices starting at:
$4000/month for a 1B 1B Studio
$5000/month for a 2B 2B Apartment

These come all inclusive of utilities, wifi, aircon maintenance and weekly cleaning

Feel free to contact me if you or someone you may know would be looking for such a place to rent!

28/03/2024

You may have already heard of this news in the property market,
But it is very significant news for the market that this project 𝐂𝐮𝐬𝐜𝐚𝐝𝐞𝐧 𝐑𝐞𝐬𝐞𝐫𝐯𝐞 has just relaunched earlier in March at a 𝟐𝟎% discount!

Located at 8 Cuscaden Road, District 10
Googlemaps link - https://maps.app.goo.gl/uu383u97HeFJheyY6

- Cuscaden Reserve was 𝐢𝐧𝐢𝐭𝐢𝐚𝐥𝐥𝐲 $𝟑,𝟑𝟐𝟕 – $𝟑,𝟖𝟑𝟎 𝐩𝐬𝐟 in its initial pricing
- As of 3 Mar 24, 𝐫𝐞𝐥𝐚𝐮𝐧𝐜𝐡𝐞𝐝 𝐚𝐭 $𝟐𝟗𝟎𝟎+ 𝐩𝐬𝐟, at around 𝟐𝟎% discount!
- Why was it relaunched at a lower price? Units were not moving, and already had ABSD extension. Thus developers have incentive to sell their units
- Developed by SC Global, HK-listed New World Development and Far East Consortium
- 𝟖𝟓 𝐮𝐧𝐢𝐭𝐬 𝐡𝐚𝐯𝐞 𝐛𝐞𝐞𝐧 𝐬𝐨𝐥𝐝 so far (as of 28 Mar 24) with 𝟏𝟎𝟕 𝐬𝐭𝐢𝐥𝐥 𝐫𝐞𝐦𝐚𝐢𝐧𝐢𝐧𝐠!

Userful article 27 Mar 24 -
𝐒𝐡𝐨𝐮𝐥𝐝 𝐘𝐨𝐮 𝐁𝐮𝐲 𝐂𝐮𝐬𝐜𝐚𝐝𝐞𝐧 𝐑𝐞𝐬𝐞𝐫𝐯𝐞 𝐁𝐞𝐜𝐚𝐮𝐬𝐞 𝐎𝐟 𝐓𝐡𝐞 𝐇𝐮𝐠𝐞 𝐏𝐫𝐢𝐜𝐞 𝐃𝐫𝐨𝐩?
https://stackedhomes.com/editorial/should-you-buy-cuscaden-reserve-because-of-the-huge-price-drop/ .71sruz

23/03/2024

A wonderful question from Edgeprop,
Which HDB Towns have the highest and lowest price growth?
And deep analysis with insightful data on the HDB market -

🔎 Here are some key insights and summary from the article:

- HDB Resale Prices are expected in increase for 2024, albeit at a slower pace
- We have actually been in a period of relatively high transaction volumes since 2021.
Transaction volumes have gone as low as 16,090 in 2013 and 15,854 in 2014.
In 2021, it was a high of 29,065 and has been decreasing gradually till now
- In 2024, the new classifications of Standard, Plus and Prime Categories having a wait time of 10 years and a 6% subsidy clawback on resale, may encourage some buyers to turn to the resale market.

🏠 Which HDB Towns have the highest and lowest price growth?

Resale HDB Flats in
1. Bukit Batok +14.1% increase (2022-2023)
2. Bukit Merah +10.7% increase (2022-2023)

Why Bukit Batok? (+14.1%)
- A record high of 1415 transactions last year
- High number of flats reaching MOP - 42,000 Bukit Batok flats reached MOP in 2023.
- Proximity to the buzz of Tengah new town, just next door
- Government plans to transform Jurong Lake District into the "2nd CBD" and regional centre.
- No BTO flats launched in 2023

Why Bukit Merah? (+10.7%) while it is not stated in the article…
- Now much of Bukit Merah is newly classified under PLH, making the existing resale flats a more attractive proposition
- Attractiveness of the area in close proximity to the CBD

Why Not Kallang/Whampoa? (-1%)
- Transaction volumes for resale flats fell from 929 in 2022 to 790 in 2023.
- A bumper crop of 5000 BTO flats launched in 2023. Thus increasing the supply for non-urgent buyers in the area.

Best Regards,
Shawn Wee
ERA Realtor
9221 5324

The results may surprise you