My clients have been discussing with me lately on the option on buying private resale units or purchasing newly launched project from the developer. More and more buyers are perceptive to private resale as private resale has been more attractive in comparison to new launched and the HDB flats in prime area. Buying resale seems to be a more feasible alternative to many house buyers now.

1. Great demand from HDB upgraders:

HDB resale flat prices raises, narrowing the price gap with private housing. It has also made it easier for HDB dwellers to upgrade to a private home. Also the existing HDB flat dwellers are deterred by the high COV (cash over valuation) if they are looking for a bigger homes.

Let’s look at the record breaking 4 room flat inQueenstown appearing in the headline just 3 months ago: A FOUR-ROOM QUEENSTOWN HDB FLAT HAS SOLD FOR $653,000. It works out to be a new record for price per sq ft at $674!!! And we are talking about a HDB flat with no exclusivity, privacy and facilities as granted in condominium.

The recent news reported that prices of resale Housing and Development Board (HDB) flats rose 3.8 per cent in the fourth quarter of 2009, reaching the highest level since 1990, amind the red hot demand for HDB flats. http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1028513/1/.html

With the prices of HDB and private resale narrowing, it has drawn many buyers to look at private resale lately. Why not??? Since there are a couple of resale projects I am able to introduce at good areas and facilities.

2. Ample ready supply of recently completed home:

If you looking for brand new apartment units, there are many units for sale with projects just obtaining TOP. Normally the sellers will be asking prices making up adequate profit on top of their initial purchase price. If the asking prices are still lower than the surrounding newly launched project selling price, they may attract buyers for its immediate occupation made available.

3. Great variety & ADDITIONAL INCENTIVE of older developments of different ages and nature:

Some buyers are interested in purchase of more established developments. It is especially so for old apartments with spacious floor plan and less density built up areas.

Have you ever made comments on the spaciousness of older apartments in comparison to the new ones even though both are having the same strata area? STRATA AREA OF NEW PROJECTS INCLUDES MANY UNUSEABLE AREAS SUCH AS PLANTER BOXES, BAY WINDOWS AND AIRCON LEDGES!!! Pls read my another article to find out the details about it. It may make you think twice in buying certain projects. http://keithyip.com/2010/01/03/be-aware-of-the-planter-areas-bay-windows/

4. Prices make the BIG difference: The prices of subsale projects are discounted in comparison to the newly launched projects.

With all the factors mentioned above, you will be bound to ask me which are the projects or locality that are worth-for-value in comparison. NO HARD SALES, but I do have some good for value projects at good areas for your consideration. Today I am going to cover Balestier first. There will be more to come, but pls be patient:)

Balestier is a popular hunt for resale buyers

Balestier has been popular with many buyers since the en-bloc fever started few years back. Many retirees got GOOD money from the enbloc and would like to retain the big portion of it for their retirement. On the other hand, they are not so keen on fanciful new launched projects and rather pay more attention on the establishment of the locality and accessibility factor. Many turned to Balestier for their 2nd homes.

Other than its fame for good food eaters, the proximity to city and established amenities like schools and facilities have attracted many people. Moreover, the resale prices of the existing developments appear like a steal in comparison to the adjacent Novena area, which are just few steps away. New projects in Novena are calling more than $1500 psf, while you are able to find Balestier existing apartments below $900 psf.

I list some of the available units for your easy reference. Do call me at 9681 7684 if you want to find out more.<