The New Savvy is a financial platform that aims to empower women through meaningful content that are relevant and practical. We want to make money interesting to women and transform women’s relationship with money.
Should you or should you not leap into the Singapore housing market today? If you were holding off on investing in one of the most expensive housing markets in Asia, Singapore property prices have hit a new low. Prices declined 4 percent last year and could decline another 4.5 percent this year.
Fortunately, there has been a boom in property websites to make your search for property investments easier. These sites provide lots of tools to help you make that buying decision. With mortgages rates rising, you will want to make use of the rate comparison and affordability calculators. To make smart buying decisions, also take advantage of their free expert advice through news, guides and videos.
- Property Website #1: PropertyGuru
PropertyGuru is a good place to start your housing search. You can peruse a thorough listing of residential and commercial properties, as well as overseas properties. If you want to check out new condo launches, they are listed too. Property investors may also compare rates for new mortgages and refinancings. Use the Affordability calculator, which takes into account all buying costs, to determine the down payment and monthly payments you can afford.
This website is valued for the quality of its education and information resources on the Singapore real estate market. The PropertyGuru provides expert commentary via video on current issues of importance to real estate shoppers. Updates on the property outlook and prices can help you time purchases and sales. Tips on how to broaden your portfolio into, for example, mixed use development or other Asian markets are provided. Find out how new developments such as the expanded city will affect the property scene. Property news, investor blogs and market valuation and pricing guides can help you make smarter buying decisions.
- Property Website #2: 99.co
99.co has developed a niche providing both sale and rental listings in the residential housing and condo market. Agents pay to list properties. The map-based search is easy to use and the company promises relevant and high quality listings. If you like the simple, modular visual presentation of AirBNB with lots of high quality photos and easy navigation, you will like 99.co. Search by housing type, neighbourhood, or nearby station. A unique feature is its free photo service. Type in your address and availability, and 99.co will send out a photographer.
- Property Website #3: iProperty
iProperty is a popular search portal across Asia and billed as “Asia’s No. 1 Property Website.” A standard search interface is provided for residential and commercial real estate. Its main educational offering is iProperty.tv. The website also provides a blog and guides. Guide topics include different types of investments (e.g., shoebox apartments), districts, renting, and property outlooks. While some of the content such as iProperty.tv is Malaysian-focused, a growing pool of resources targets the Singapore property investor. You can also shop for mortgagee deals on iProperty and use the Rate Comparison and Affordability calculators.
- Property Website #4: TheEdgeProperty
TheEdgeProperty is the new kid on the block, launched in May 2015 by The Edge Media Group. Here you will find a one-stop shop for property and rental searches, news, data and analytics. The website leverages the journalism resources of the business publications of its parent company to provide real-time real estate news. Narrow down your property search with its strong analytical tools. Find out where the hot locations are in property sales. Historical data lets you compare how similar properties were selling, such as before the price decline. A useful tool is a desktop valuation tool that calculates the fair value of a property, using the same method as a licensed assessor in Singapore.
- Property Website #5: The Singapore Real Estate Exchange
The Singapore Real Estate Exchange is using technology to make the real estate market more engaging. A 360 virtual tour shows you around a home before you visit. The mobile Property Tracker app will provide you with your home’s value by SMS once a month. With the Heat Map, you can view housing price trends by neighbourhood at a glance. News, podcasts and videos are also offered.
With these search and information tools and falling prices, finding good buys in the Singapore residential property market has never been easier. The question is when to buy. Property investors blogging on PropertyGuru’s Property Experts Guide are not expecting the market to recover anytime soon. If the government halts its property cooling measures, however, investors will want to get in the market before prices rise. This decline, now in its eighth quarter, has surpassed the length of the decline in 2002.
Each of these property website has its own unique value-added services. All provide mobile apps.
This article is by The New Savvy.