I had this conversation with one of my NS mates a few days ago:
“Wah Ken, thanks for the write up last week.
Until I read your post, I didn’t know we had so many more things we need to pay for man! (Click here)
Jialat leh, I think we (people in our age group) really have imperfect information sia.
We do not know where to find the relevant and important information for our property purchase.”
“What is relevant and important to you then?”
“Things like past transactions so we can compare? Things like what are the available properties on the market?”
“Things like Stamp Duties payable? Things like what will be the future development of your surroundings?
“YA YA YA!”
“How about you join me as an agent la? Then you will know everything mah! Hahaha, just kidding la. Ok, i know what to write this coming week already!”
Do you have similar worries as well?
That you are not well informed and have imperfect information?
In today’s A Little Property Class, we will touch on the 5 Must Know Websites For Every Property Purchaser!
It is presented in no particular order. These sites are of my humble opinion.
Of course there are definitely more sites to these, but these are 5 which I personally feel is a Must-Know.
If you have any other sites which you feel are important and should be shared with everyone, please kindly leave a comment or contact me to let me know! 🙂
1. Property Guru
“Where to are the available Properties for sale and rent on the market?”
Established in 2007, PropertyGuru.com.sg was one of the first property portal in the market. Within a short space of 3 years, it became the #1 portal in Singapore in 2010. It currently has over 3.5 million visitors viewing more than 52 million page views monthly. It has the most comprehensive property listings, with a 6-month aggregate of more than 230,000.
Property Guru (and also Commercial Guru) is highest used property site by Real Estate Salespersons to post their listings (both residential and commercial) for sale and rent. They boast a total of more than 900,000 property listings regionally.
Its effective search engine allows users to refine their search to meet their specific needs.
Specific Needs include:
-Type of property
-Location/District of Location
-Tenure of land
and many more
An screenshot of the search engine
Property Guru has evolved over the years. They have developed a mobile app that is more handy and ready to serve its users. You can download Property Guru app from your App Store and Google Play.
2. HDB Website
“What are the transacted prices?”
“What are the available Grants?”
“After I sell my house, what are my sale proceeds?”
“Am I eligible to buy/sell?”
“What are the things to do if I want to sell my house without an agent?”
These questions can be easily answered in the HDB Website.
You just have to play around with the page.
The HDB website can also help you check your Resale Appointment, ethnic quota etc.
This is one particular Function which I find very useful.
CENTRALISED MAP SERVICES
It allows you to find out about the past transacted prices/past rental prices of your flat and neighbouring prices.
It also gives you important information such as:
– Lease Details
– Flat types & number of units per block
– Ethnic Group Eligibility
– Non-Citizen Quota for Subletting
– Subletting Rental Rates
– HDB upgrading program
– Distance Enquiry for CPF Housing Grants
and many more..
Screenshots of useful information you can derive using Centralised Map Services.
3. URA Website (Private Property Price Index)
“How about Private Property transacted prices?”
“What will the government plans for my surrounding neighbourhood?
Similar to the HDB website, the URA website allows you to get hold of private housing transacted prices.
URA will publish these information on a quarterly basis.
It also publishes articles that talk about the recent market conditions.
Similarly, you can search the Master Plan and find out what the government is planning to do with the land that is near your house.
An example of the transacted prices of a Condominium I am currently Marketing.
A screenshot of the Masterplan 2014.
Find out more about it here.
“What is the agar-agar valuation of my property?”
SRX is an information exchange formed by the leading real estate agencies in Singapore.
Its purpose is to disseminate market pricing information and facilitate property transactions.
Screenshot of leading Real Estate Companies In Singapore
Why is SRX useful?
SRX provides X Value – which is the agar valuation you can get without a valuator.
X-Value is a computer-generated market estimate of nearly every property unit in Singapore. It is the result of a 12-month project co-funded by the Singapore Government through the Infocomm Development Authority of Singapore (IDA). The project involved leading estate agencies, academic institutions, government agencies, peer review by certified appraisers, and StreetSine Technology Group, the technology provider for this project.
For more information, please read X-Value FAQ
A Screenshot of a randomly selected 5 room flat in Singapore
You are able to use this service effectively for the pricing of your unit for sale.
At the same time, it allows you to better decide whether it is a good time to sell your property.
Of course there will be a difference from the actual valuation done, but this serves as a pretty good gauge.
SRX is also a property portal that showcase exclusive listings for Sale and Rent, but it is significantly less than that of Property Guru, as Property Guru also feature open listings.
5. INLIS (Integrated Land Information Service)
“How do I know whether the seller/landlord is the rightful and legal owner of the property I am buying/leasing?”
INLIS is a government website run by the Singapore Land Authority (SLA)
It allows you to purchase important information such as land title information, and many other services.
Prices are listed in the website.
It is especially important to ensure that you are buying/leasing from the rightful owner of the property because they have been cases where the sellers/landlords are bogus, fraudulent and cheated many victims of their hard earned money!
Indeed, you can argue that you can check income statements, official letters mailed to the mailbox, etc.
However, these are documents that may not be so easily acceptable as they are personal.
There can be so many scenarios in which things can happen, please be careful and do your due diligence!
This is especially important to friends who decide to go directly to a seller/landlord who happen to not engage an agent as well. You are thus responsible to ensure that you have confirmed your sellers/landlords are the owners so as not to infringe the law!
I hope that this article have further helped you in finding the crucial information that you need before you purchase your first property!
Do you have websites that I have missed out and you think is important to share with everyone?
Kindly comment, subscribe and like if my posts have benefited you!
Thank you my faithful readers, for being so kind and sending me words of encouragement and saying thank you to me. I hope that my articles will continue to help you!
You may also be interested in:
Little Property Education!
1. 10 “ADDITIONAL” THINGS YOU ARE PAYING WHEN YOU BUY A HDB FLAT
2. Different Types Of Flooring
3. 5 Money Traps Couples Fall Into When Buying Their First Property
4. What To Bring For First Appointment?
5. Contra Facility
6. Financing Using Hdb Or Bank Loan
7. HDB Housing Grants