What is the Difference between Option to Purchase (OTP) and Offer to Purchase?

When you’re diving into the property-buying world, you’re gonna run into these acronyms: “Option to Purchase” (OTP) and “Offer to Purchase” (also, OTP – confusing, right?). 

To keep it simple, we usually call “Option to Purchase” just “OTP,” while “Offer to Purchase” gets shortened to “Offer.”

1H2024 Has the Highest Housing Supply Since A Decade Ago. What Are the Interesting Sites Released?

“On December 6, 2023, the Urban Redevelopment Authority (URA) unveiled a promising outlook for the 1H2024 Government Land Sales (GLS) with the release of 10 Confirmed List sites and 9 Reserved List sites. These sites are projected to yield a substantial 8,910 private residential units, 107,750 sqm gross floor area (GFA) of commercial space, and 530 hotel rooms.

The Confirmed List sites, contributing significantly to this surge, will introduce 5,450 private residential units in 1H2024. This marks an increase from the 5,160 units in 2H2023 and represents the highest supply on the Confirmed List within a single GLS program since 2H2013.”

How Does the Singapore Government Cope With The High Rental Demand?

Singapore’s rental price index has surged by 55% since the fourth quarter of 2020. This means that it is much more expensive to rent now compared to three years ago. However, there is a glimmer of relief as it has shown signs of stabilisation in the most recent quarter. Source: URA The substantial increase in […]

Soaring EC Land Prices and Bids Contrast with Declining Trends in Private Properties

“In the wake of the recent harmonisation of Gross Floor Area (GFA) definitions, a notable trend has emerged in the Government Land Sales (GLS) landscape. Developers, in response to the changes in GFA calculations, are now submitting lower bids for land.

The decline in land prices is primarily attributed to a significant shift predating GFA adjustments. Previously, developers had the flexibility to construct “”free”” aircon ledges and curtain walls, which were excluded from GFA calculations. These elements constituted around 4% to 5% (air con ledges) and 1% to 2% (curtain walls) of the total saleable area in private condo developments. However, with the harmonisation of GFA definitions from June 1, 2023, all strata areas, including air con ledges and curtain walls, are now considered in GFA calculations and, consequently, in the saleable area presented to homebuyers. As developers must now account for the full 7% of “”free space”” within GFA, they have to adjust land bid prices downward by 6.5% in order to maintain profit margins.”

Everything You Need to Know About Singapore’s Tenancy Agreement

“The Tenancy Agreement is a legally binding document that establishes the terms and conditions agreed upon by both the landlord and tenant. Instead of seeing it as restrictive, it’s more aptly viewed as a tool to safeguard the interests of both parties. In situations involving disputes or breaches of the agreement, this document serves as a reference point for resolution.

In this article, we’re breaking down all the crucial info you need to know about tenancy agreements in Singapore. Plus, we’ll be tackling some of the most Frequently Asked Questions about these agreements. Let’s get into it!”

What is the Singapore Private Residential Property Market Outlook for 2023 Q3?

Are you in search of your next home or seeking undervalued investment opportunities? Understanding today’s property market dynamics is absolutely key. What better way than to analyse the data from Urban Redevelopment Authority’s (URA) quarterly report.  Just recently, URA released their 2023 Q3 report and it unveiled a striking observation: there has been a substantial […]