Issue 288

Copyright 2011-2016 www.propwise.sg. All Rights Reserved.

CONTENTS
p2

FROM THE

EDITOR

Management Committees and Managing

Welcome to the 288th edition of the

Singapore Property Weekly.

Agents What They Do, How to Spot a

Hope you like it!

Good One, and How to Deal With Them

Mr. Propwise

p7

Resale Property Transactions

(November 13 November 18)

Contribute

Advertise

Do you have articles and insights and articles that youd like to share
with thousands of readers interested in the Singapore property
market? Send them to us at info@propwise.sg, and if theyre good
enough, well publish them here, on our blog and even on Yahoo!
News.

Want to get your brand, product, service or property listing out to

thousands of Singapore property investors at a very reasonable
cost? Head over to www.propwise.sg/advertise/ to find out more.

SINGAPORE PROPERTY WEEKLY Issue 288

Management Committees and Managing Agents What They

Do, How to Spot a Good One, and How to Deal With Them

By Sophia Sim (guest contributor)

The Management Corporation Strata Title

(MCST), otherwise known as the managing
body for your condominium, manages private
properties
in
Singapore.
For
new
condominiums, the property developer has to
find a condo management company within
two months of the Temporary Occupancy
Permit (TOP). After the first Annual General
Meeting (AGM), the management committee
will form a management corporation (MC)
through an election.

Back to Contents

Page | 2

SINGAPORE PROPERTY WEEKLY Issue 288

Therefore, do not go after your developer
should you have any issues with the
maintenance
of
the
condominium
development it is the MC or the managing
agent that you need to go after.
What Is The Role of The MCST?
Why do we need the MCST? Within a private
property development, there is a need for
someone to provide maintenance and
manage the public facilities. Think about who
you should approach if the lights along the
corridors are out, the benches in the common
area are damaged, or if one of your
neighbour's shoe racks is blocking the
stairwell.

Doing all this maintenance work obviously

requires money, so that's where the MCST
also holds another important responsibility
taking care of the management fund. When
Back to Contents

you buy a condominium, you need to pay a

monthly maintenance fee. This fee is paid to
the MCST, who will split the funds into a
management fund and a sinking fund.
The management fund is used for the day-today expenses of maintaining the development
and other expenses such as payment of
insurance premiums. The sinking fund is
collected for future capital needs, such as
painting or the replacement of common
property.

Other than this, the MCST also manages the

staff who helps to maintain the facilities
technicians, cleaners and security. Those that
are more pro-active also take it upon
themselves to build a community spirit
through the organisation of events and parties
such as New Year parties and other
celebrations.
Page | 3

SINGAPORE PROPERTY WEEKLY Issue 288

As you can see, the MCST plays quite an
important role and can affect the living
environment for the unit owners. A good
MCST can enhance the asset value of the
property through the upgrading of facilities or
landscaping.

A good MA is extremely important, as he/she

will probably be the one you deal with when
you run into certain maintenance issues or
when doing renovation work at your place.
Here's what you can do to look for a good
MA:

What is a Managing Agent?

It is common for the MC to appoint a

managing agent (MA) to handle the daily
operations of the condominium development.
The appointed MA has the right to exercise
the powers assigned to them by the MC.
These include the smooth functioning of the
estate's cleanliness, security and scheduled
maintenance, administrative matters such as
the booking of facilities, car park matters,
contractual agreements, council meetings, as
well as financial matters.

As with buying a property unit itself, you

should do a check of the public area of your
condominium. Observe whether the common
area is well maintained are there any spoilt
facilities that are not replaced? Is the place
generally clean?

Back to Contents

Before You Buy A Condominium Unit

You can also talk to some of the existing

tenants to gather feedback. This is a good
way because you have real opinions from the
ground.

Page | 4

SINGAPORE PROPERTY WEEKLY Issue 288

Look out for the bulletin board of the
condominium are there any organised
activities, any updates on renovations being
done around the apartments? Do the
clubhouse and public facilities look sad or
popular among the residents? This can give
you an insight to the quality of life in this
condominium development.
After
You
Have
Condominium Unit

Bought

The nightmare comes when you've just

moved into your new home and you find that
the MA isn't the easiest person to deal with.
One of the first encounters you have with
him/her is usually when you apply for your
renovation permit. Take note what you can
and cannot do when you are renovating your
unit.
If you face problems with your MA during this
Back to Contents

period, what can you do?

First, check with your neighbours about their
interaction with the MA. Do they share your
sentiments? If not, perhaps you did cross
some boundaries that required the MA to
issue some strict warning.
A good MA is pro-active they should be
inspecting the premises and do not need to
wait for residents to complain about facility
issues before they take action.
Being proactive when dealing with the MA
Be active and attend the AGMs yourself to
have an idea of what the general state of the
MC is like. Through these interactions, you
might be able to see who dominates the
council. There have been stories of MAs
manipulating the council to get their way with
choosing certain contractors in order to get
some incentive.
Page | 5

SINGAPORE PROPERTY WEEKLY Issue 288

If you think this is happening, you should
request for the submissions of at least three
quotations as well as justification from the MA
on their choice.
As an owner of a unit in the development, you
can request for a motion to be included in the
agenda of the AGM through a written notice
to the secretary of the council. If you have a
pressing issue that you would like to resolve
or bring up and the AGM is too far away, you
can also gather some support from your
neighbours (at least 20% of share-value) to
convene an extraordinary general meeting.

extremely important if an en-bloc comes your

way!
By Sophia Sim, Associate Director, Redbrick
Mortgage Advisory. To get a free consultation
on your new loan or refinancing needs,
please head to www.propwise.sg/mortgage/

It is important to know the role of the MCST

before you buy a condominium unit as it can
impact your property value in the long run.
Stay in the know of the activities of the MC,
so that you can have a say in your living
environment. They can also become

Back to Contents

Page | 6

SINGAPORE PROPERTY WEEKLY Issue 288

Non-Landed Residential Resale Property Transactions for the Week of Nov 13 Nov 18
Postal
District
1
4
4
4
4
4
5
5
8
8
8
9
9
9
9
10
10
10
10
10
10
10
11
11

Project Name
PEOPLE'S PARK CENTRE
TELOK BLANGAH HOUSE
CARIBBEAN AT KEPPEL BAY
THE INTERLACE
THE INTERLACE
THE INTERLACE
HERITAGE VIEW
VARSITY PARK CONDOMINIUM
PARC SOMME
CITY SQUARE RESIDENCES
SUITES 123
OUE TWIN PEAKS
OUE TWIN PEAKS
PATERSON RESIDENCE
UE SQUARE
ARDMORE THREE
BISHOPSGATE RESIDENCES
THE ARC AT DRAYCOTT
BELMOND GREEN
D'LEEDON
SPRING GROVE
DUCHESS CREST
NEWTON ONE
SUITES @ SURREY

Back to Contents

Area
(sqft)
2,336
1,432
1,281
2,056
1,593
2,056
1,163
2,325
452
1,216
840
570
1,604
1,496
2,196
1,744
5,974
1,130
1,335
657
1,012
936
1,808
893

Transacted
Price ($)
1,460,000
2,000,000
1,680,000
2,400,000
1,750,000
2,171,000
1,385,000
2,240,000
622,000
1,610,000
1,100,000
1,640,000
3,929,800
3,135,000
2,600,000
6,776,880
20,680,000
2,160,000
2,133,300
1,020,000
1,380,000
1,250,000
2,980,000
1,395,000

Price
Tenure
($ psf)
625
99
1,397 FH
1,312
99
1,167
99
1,099
99
1,056
99
1,191
99
963
99
1,376
99
1,324 FH
1,310 FH
2,875
99
2,450
99
2,095 FH
1,184 929
3,886 FH
3,462 FH
1,911 FH
1,598 FH
1,553
99
1,364
99
1,335
99
1,648 FH
1,561 FH

Postal
District
11
11
12
13
14
14
14
14
14
14
15
15
15
15
15
15
15
15
15
16
16
16
16
17

Area
(sqft)
THE LINC
1,141
WATTEN ESTATE CONDOMINIUM
1,001
TREVISTA
1,098
8@WOODLEIGH
1,098
SUITES @ SIMS
753
CENTRAL IMPERIAL
420
THE SUNNY SPRING
1,023
CENTRAL GROVE
1,238
SIMSVILLE
1,528
N.A.
1,184
THE MEYERISE
1,302
THE SEA VIEW
1,647
38 I SUITES
506
PEBBLE BAY
2,088
EVERITT EDGE
431
TEMBELING GROVE
1,356
MANDARIN GARDEN CONDOMINIUM 1,001
MALVERN SPRINGS
2,153
NEPTUNE COURT
1,270
COSTA DEL SOL
1,475
COUNTRY PARK CONDOMINIUM
1,324
CHANGI GREEN
872
BAYSHORE PARK
936
FERRARIA PARK CONDOMINIUM
1,195
Project Name

Transacted
Price ($)
1,740,000
1,170,000
1,395,000
1,414,000
888,000
470,000
1,060,000
1,128,500
1,300,000
1,000,000
2,552,000
2,640,000
789,000
2,750,000
560,000
1,365,000
920,000
1,750,000
850,000
1,870,000
1,540,000
844,000
810,000
1,015,000

Price
Tenure
($ psf)
1,525 FH
1,169 FH
1,271
99
1,288
99
1,179 FH
1,120 FH
1,037 FH
912
99
851
99
845
FH
1,959 FH
1,603 FH
1,560 FH
1,317
99
1,301 FH
1,006 FH
919
99
813
FH
669
99
1,268
99
1,163 FH
968
FH
865
99
850
FH

Page | 7

SINGAPORE PROPERTY WEEKLY Issue 288

Postal
District
17
18
18
18
18
18
18
18
19
20
20
21
21
21
21
21
22
22
23
23
23
23
25
25

Project Name
WATERCREST
SEA ESTA
RIS GRANDEUR
RIS GRANDEUR
RIS GRANDEUR
THE TROPICA
MELVILLE PARK
MELVILLE PARK
THE QUARTZ
CLOVER BY THE PARK
GRANDEUR 8
SPRINGDALE CONDOMINIUM
SOUTHAVEN II
SIGNATURE PARK
PARC PALAIS
PINE GROVE
THE CENTRIS
CASPIAN
THE DAIRY FARM
THE MADEIRA
THE WARREN
NORTHVALE
CASABLANCA
WOODGROVE CONDOMINIUM

Back to Contents

Area
(sqft)
1,302
646
1,292
1,539
1,367
1,238
936
1,044
1,066
1,249
1,216
1,227
1,841
1,399
1,249
1,755
1,066
872
1,593
936
1,227
1,270
1,184
1,615

Transacted
Price ($)
950,000
686,000
1,150,000
1,370,000
1,190,000
1,020,000
710,000
721,000
918,000
1,510,000
1,180,000
1,220,000
1,750,000
1,320,000
1,150,000
1,270,000
1,220,000
900,000
1,510,000
880,000
1,010,000
900,000
950,000
995,000

Price
Tenure
($ psf)
729
999
1,062 99
890
FH
890
FH
871
FH
824
99
758
99
691
99
861
99
1,209 99
970
99
994
999
951
999
943
FH
921
FH
724
99
1,145 99
1,032 99
948
FH
940
99
823
99
709
99
802
99
616
99

Postal
District
27
27
28
28

Project Name
CANBERRA RESIDENCES
THE MILTONIA RESIDENCES
NIM GARDENS
SELETAR SPRINGS CONDOMINIUM

Area
(sqft)
1,313
2,077
2,217
2,067

Transacted
Price ($)
1,150,000
1,630,000
1,680,000
1,300,000

Price
Tenure
($ psf)
876
99
785
99
758
FH
629
99

NOTE: This data only covers non-landed residential resale property

transactions with caveats lodged with the Singapore Land Authority.
Typically, caveats are lodged at least 2-3 weeks after a purchaser
signs an OTP, hence the lagged nature of the data.

Page | 8