Manulife Real Estate Purchases Its 2nd Largest Property in Singapore

Manulife Real Estate, Canada's largest insurance company, has recently acquired a significant Singaporean property. The insurance giant purchased 8 Cross Street on April 11. The said property is located in Raffles Place Central Business District. 

8 Cross Street is composed of 28 stories and spans an area of 355,000 square feet. The property is close to public transportation and eateries. For the handsome price of US $526 million, the Class A property is Manulife's second largest property acquisition.

Manulife has not purchased any Singaporean property prior to 8 Cross Street. They plan to make the newly acquired property headquarters for their Singapore operations.

Manulife Real Estate is based in Toronto, Canada. Established in 1887 by then Prime Minister Sir John A. McDonald, the firm started out as a private stock company. Its first operations were in its home country Canada but quickly branched out to other countries such as Hong Kong and Macau.

The company is now known as one of the world's leading insurance companies and financial providers. Known as John Hancock Real Estate in the United States and Manulife to the rest, this Canadian finance giant has helped shape the world to what we know it is today.

As of this writing, Singapore is the third largest market in Asia. The acquisition of 8 Cross Street marks as Manulife Real Estate's first purchase of Singapore property.

5 drool-worthy condo swimming pools that can rival Marina Bay Sands

If gorgeous swimming pools are your kryptonite, you’ll appreciate this article. Why bound yourself to having access to beautiful, drool-worthy pools only when you’re out on vacation? Check out these 5 condominium swimming pools in Singapore, and buy a unit to relax with your blend of choice, all day err day! 

1. The Sail @ Marina Bay 

Standing at 245 m, The Sail is not only the tallest condo in Singapore, but one of the top 10 highest residential buildings in the whole world as well. Other than an absolutely impressive infinity pool, there’s also a children’s pool, lap pool and aqua pool featuring several workout machines. It’s also right smack in the Central Business District, so those who work near might just can get away with sneaking home for a fast dip during lunchtime.

2. Reflections at Keppel Bay

Don’t like crowded condo swimming pools? At the contemplation of Keppel Bay, you’ll not ever encounter that problem. Presenting an Olympic size swimming pool, an enormous 100,000 sqft of water space and two Jacuzzis, this is kind of what dreams are made of. Also, just visualize coming home after a long and hard day of work to a heart-arresting and captivating view. Indeed a place of haven.

3. Sky Habitat

Don’t be too fast to dismiss Sky Habitat as ‘just one more condominium in Bishan’ – captioning the design team of this property is the similar person who designed the elegant Marina Bay Sands. At Sky Habitat, the 38-storey high infinity pool park yourself above two other sky gardens, with intentionally positioned palm trees offering a tropical, just about festive resort ambiance to the place.

4. Skyline Residences

Skyline Residences, situated at Telok Blangah, has got a lovely 50-meter lap pool enclosed by large numbers of lush greenery. If you are a sucker for a pleasant view, you’ll also appreciate the sky gardens on the 24th storey, which offers incomparable views of Telok Blangah Hill Park and the sea. Do take note that Keppel Golf Club’s tenancy is scheduled to end in 2021, however, which means that those comprehensive views won’t be around for long.

5. OUE Twin Peaks

Forget about flying to Bali, Thailand, or either one of our nearby countries – the rejuvenating pool at OUE Twin Peaks is living evidence of how you can take a slice of paradise right here near Singapore. Stunning pool aside, OUE Twin Peaks is one of the condominiums in Singapore which includes with a Deferred Payment Scheme, that means buyers’ initial cash amount is massively reduced.

Amusing fact: If you choose to stay here, you will also be including JJ Lin as one of your neighbors!

Dribbling over these elegant condo swimming pools, but don’t know if you can actually pay for to get a condominium? Opt for more cheap yet elegant projects – such as these condominiums that you can buy with a family monthly income of $7,000, and these other condominiums that you can buy with a family monthly income of $6,000!

All you need to know about smart homes before you buy one

Nowadays, with the advancement in the technology, smart designing is almost becoming a very important part of life. Designing of the products smartly from macro level (use of the data analytics by the architects to design such flats which are capable of dissipating heat), and also from micro level (such as designing of the smart homes as well as applications of the smart homes which are capable of added convenience in the lives of people). In the following section of this reading you will be reading about more projects related to the smart design wave in Singapore, and also the pros and cons of the smart homes will also be discussed.

Smart Home Projects: Current and Future

There are some of the smart home projects which are working nowadays include My Smart HBD Home at Yuhua as well as Visionaire at Sembawang. Other than these projects, there are some future projects includinhg Punggol and Northshore Residence BTO are also meant to be smart home projects. 

What are the specifications of Smart Homes?

The key feature of the smart homes includes the smart home owner using various features of the house through a remote from the point where he is at. This includes the control of automatic doors as well as air conditioning. Smart lighting concept is also being used in many of the smart homes projects, which is actually a movement controlled lighting. 

Other than that, smart homes are also capable of keeping their maintenance up to date, having a function which permits the home owner to check the wastage as well as the power usage of the house. The function enables the trigger to alert the owner in case of any water leakage or whenever servicing of any part of the house is due, and also detecting the temperature increase in the house. 

These features of the smart homes enable the home owner to live their life without any worry. Those people living in condominiums, they can also enjoy the facility of the access of the concierge services just by using the smart home app.

Expenditures of Getting a Smart Home 

For getting a smart home at Northshore Residence, you should have about $28,000 which includes the housing grants. This smart home includes the two-room units, and if you go for five room units, it will cost $354,000. The units at Northshore Residence are 8-20 percent costlier in comparison to the units which were previously launched at Punggol. This is may be because of the waterfront location of the Northshore’. 

And if we talk about the Visionaire, which is considered as the Executive Condominium, there are additional costs due to the inclusion of some smart home features approximately by $6,500 – $8,000. And for the people who don’t want these extra features of smart home, they are allowed to go for it and pay less. 

Security and Privacy Concerns of Smart Homes

When we talk about the security, smart homes provide the best feeling to their residents mentally as well as physically. The built-in sensors in the house will protect any of the unexpected movement in the house, which might be because of any intruder. 

Smart home technology is pretty new, that is why it is very much vulnerable to viruses as well as hacking. So, in order to avoid such kind of things, the owners of the smart homes should try using the most secured passwords, using a strong combination, and also updating their passwords regularly. 

The Asia’s smart home market is expected to grow at about US $115 million by the year of 2030. So, smart homes are here in any case. So, this is the time to start embracing the smart home technology, and all the features to change life that they bring. 

Buying property in Singapore: How to ensure you can afford the home you want?

For the last three years, property prices in Singapore have gone down. The decline however, people forget, that it **was preceded by a 60 percent rise on private homes in the global financial crisis of 2008-2009. The government of Singapore has, as a result, established regulations for controlling the home-loan amount limit for those looking to buying property.

What remains despite the success of the measures, is the wide range of home prices, even extending to public housing. That even property sites do not include the comprehensive price on the properties advertised. Thinking of owning an affordable home in Singapore? Work out the additional costs first before any decision.

TDSR & MSR Fulfilment

The Total Debt Servicing Ratio (TDSR), which came into being on June 2013, is a measure that sees to it that your monthly debt repayments are within a 60 percent limit of your monthly income.

A TDSR calculator is all you need to come up with the maximum loan amount allowed for you to acquire property. Some banks will provide these calculators, the DBS or UOB type, where with only keying in a few details, you will have revealed, your maximum loan amount, the maximum property price allowed alongside the down payment required.

The Mortgage Servicing Ratio (MSR) is something that potential HDB flats and Executive Condominiums owners need to take a peek at. The MSR limits to 30 percent your monthly income, what you should spend on mortgage repayments. TDSR and MSR aside, the funds in your CDF OA and cash are important in seeing that you can make the upfront payments. With the 20% upfront pay for private properties being seen a barrier for those not settled on a resale HDB or a private condominium.

Keen interest is not given on matters stamp and legal fees. Buyer stamp duties coming to a 4 percent of your home price; mortgage agreement stamping counting to $500; another $500 for stamp duty for taking a home loan, not to mention other small charges which include bank processing and legal fees bringing the total amount higher.

Cost of Borrowing

With the standard HDB Concessionary loan interest rates being used in the example above, one should take note that depending on the type of bank loan you choose, borrowing fees can total up to a fairly large amount.

Currently, the interest rates for bank loans are considerably lower in comparison to HDB loans. Many do prefer the HDB loans over bank loans as with HDB loans one can access a 90 percent loan-to-value, making it possible to afford an amount, 10 percent less the down payment.

The monthly repayment may come up as small; with $120 over a period of 20 years, but the additional interest payments you will be making sums up to $28,513. Thus in the long term perspective, you might have to rethink your decision.

Renovation & Furnishings

Oblivious to most home-buyers, renovation costs are much expensive, no matter how simple. With costs being much higher for an older flat or resale, an approximate cost for renovation would fall in the scale of $50,000- $70,000.

What you do not want to see is the total cost, if furnishing is to be included. Furnishing however should not be a worry since you can furnish your home at your own pace as you continue.

With property purchase, the stated price is not enough to convince you; rather, the additional costs should serve as your best guide.
As a buyer, your CPF money and upfront cash is all you need to have in mind in order to comfortably service your home loan in the long-term.

Strong buyer interest in Seaside Residences

Near to 5,000 people visited the display suite over the weekend. 

The highly-foreseen Seaside Residences condominium at Siglap Link captivate firm buyer interest at its viewing over the weekend (April 8 and 9), with convenient to 5,000 population visiting the show apartment over 2 days, said builder Frasers Centrepoint Singapore.

Majority of the household claimant designated that they remain in eastern districts like 18, 15 and 19. The 843-unit deal will consist of 1 to 5 bedroom units advance across 4 towers. Ground areas scope from 420 square feet to 3,294 square feet. At 27-storey big, it will bluster open sea outlook when ended in 2021.

Head of Development, Cheang Kok Kheong and Property in the vicinity of Frasers Centrepoint Singapore, said: “No new property with panoramic sea outlook have been built onward the East Coast Parkway in the last 15 years, best to a suppress demand for advanced housing choice in the area. The property enlarges its sea-facing frontage, with somewhat 70% of the units appreciate a sea outlook.”

Recent indications fair that there is identical interest in both the bigger and tinier unit composition, with abundant plant  in  a excellent opportunity to alive next  to the beach.

Jevon Koh, a keen buyer at the viewing, said: “It gives us a extra important mood, compared to the many projects we have observed recently.”

The 99-year leasehold condominium is a stone throw away from East Coast Park through a crossroad, and is near to the forthcoming Siglap MRT station on the Thomson-East Coast line . Purchase of units will start on April 22.

According to URA data, the middle psf for the fabulous District 15 is $3.16. This property, the Seaside Residences is also the one new property to come to the zone since Villa Marina in 1999. As this project is too rapid for prices to be laid-off, any form of rumor right now will be tough.

Nevertheless, given the established location, new MRT station, the propinquity to the ECP and the possible of having a sea view (if you are on a high adequate floor), prices are anticipated to reflect those qualities strongly.

Other stunning properties surrounding Singapore includes The Vales EC and Elite Residences. Come and visit one now.