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Great video. Message with creativity and feel happy vibe to finish off. All thumbs up buddy. An analysis on impact on rental/sale of property with increasing property tax over the years will bring great insights. Not sure though that it can be linearly extrapolated for future.

@savvyericchiew

6 ай бұрын

🙏🏼🙏🏼

Thanks for featuring this question! Now i shall aspire to pay more property tax 💪

@savvyericchiew

6 ай бұрын

✌️✌️

Love your style and honesty ❤

@savvyericchiew

4 ай бұрын

🙏🏼🙏🏼

Thanks for sharing Eric. Good information. Now I know what I am paying for 😅

@savvyericchiew

6 ай бұрын

Paying for huatness! 🥳

a consolation video, just when we need it, haha.

@savvyericchiew

6 ай бұрын

High AV means you are rich too! 😎

Great insights and analysis from from different perspectives. Thanks for sharing Eric 🫶

@savvyericchiew

6 ай бұрын

🥂🥂

Eric which is your most huat new launch this dragon year?

@savvyericchiew

6 ай бұрын

I’m eyeing less than 5 this year 😎

Eric, Why bukit timah landed cheaper than condo? Why sentosa cove bungalow so expensive for property tax? Pay so much tax, the rental and capital appreciation can make back?

@savvyericchiew

6 ай бұрын

It’s based on rental. Sentosa cove rental can be $50k to $80k. The appreciation is way more than property tax

@anonymousman9824

6 ай бұрын

@@savvyericchiew condo rental more expensive than landed? Why people don’t want to rent landed instead? If you pay 250k in property tax for sentosa, that is more than 1/3 of annual rental and hard to make it back thru appreciation

@savvyericchiew

6 ай бұрын

@@anonymousman9824 the Sentosa cove owner made double! 🤩

Hi Eric. If rental property is sold within the year, can the sale commission paid to agent be deducted under rental expenses?

@savvyericchiew

3 ай бұрын

Can be expenses if paid in 2023.

Hi Eric, finally i will mop in a few months time.. this video is v timely.. was considering buying a 4 bedder condo and renting out first as its a hassle to change my kids preschool.. wasnt sure whats the AV and tax, seems like the rental income dont make sense unless i rent out like co living apt, plus i will be tax on a higher bracket with the extra rental income.. 😢

@savvyericchiew

6 ай бұрын

Just take it 1 month of your rental as tax will be fine 👍

@pearlynyap2689

6 ай бұрын

eh but based on my calculations, renting out the 4 bedder based on recent rental transactions, minus property tax, income tax, condo maintenance, the nett income is lower than my monthly mortgage.. means still need to top up cash.. so doesnt seem like all rental can cover mortgage.. especially if quantum is big..

@anonymousman9824

6 ай бұрын

@@savvyericchiewadd MCST fee, repairs, income tax (can be up to 24%)

@pearlynyap2689

6 ай бұрын

Eg Sims Urban Oasis Purchase 4 Bedder $2M 25% DP + 3% 30year loan - $6324/mth mortgage MaintenanceFee - $350/mth Cost of holding the property - $6674/mth Recent Monthly rental - $7k/mth Property Tax based on low Est. AV $36K - $4800 Total equity is - ($7000 - $6674) x 12 - $4800 = -$888 It’s a NEGATIVE HUAT HUAT HUAT, I havent even add income tax!

@pearlynyap2689

6 ай бұрын

and if i can buy 2M, means my income is also quite high to take loan, so can u imagine the income tax on me? dont make sense wor..

How much is ur land size for the Bukit Timah? How come ur SD just 1 m more than ur friend IT

@savvyericchiew

6 ай бұрын

2400sf

It’s a given SG will only get costlier and costlier over time, not cheaper.

@savvyericchiew

6 ай бұрын

True

Hmm you have a SIL by the name Jennifer? Just wondering as your Mrs is Janet rt 🤭 (knew someone staying @Avon Park)

@savvyericchiew

6 ай бұрын

Yes yes! Cool! 🥂

love the intro lol

@savvyericchiew

6 ай бұрын

Suddenly got the idea while swimming 😆

wahlao eh... like that buy unit for investment, rent out at $4000 a month. Need to pay $4000 agent fee, $4000 property tax.. in the end 2 months of rental just gone like that. In your Mr Loo video you never mention this leh

Whoa Eric. Tis opening video i thought your own home swimming pool. V v beautiful pool. Issit some condo pool??

@savvyericchiew

6 ай бұрын

It’s a heated pool in Zermatt Swiss hotel 😆

@barcaewok7229

6 ай бұрын

@@savvyericchiew v v pretty. Tot u owned tis whole building.

@savvyericchiew

6 ай бұрын

@@barcaewok7229 thanks for looking me so up sia! 😆

Next year rates will go up again?

@savvyericchiew

5 ай бұрын

No more increase unless AV increases 👍

My 3br condo is almost 1.5 months of rental 😢

@savvyericchiew

6 ай бұрын

Your condo must be less than 3-4 years old correct?

@UserCM

6 ай бұрын

Haha yes correct. Btw am curious, I thought in general, getting the condo beside the integrated will be quite safe since it doesn't pay the premium but enjoy all the convenience? How come it seems like park colonial is not doing better than woodleigh capital gains wise?

@savvyericchiew

5 ай бұрын

@@UserCM PC growth is good too

All rentals are losing money if you calculate the costs, taxes and dont forget the opportunity cost from your downpayment as well as capital gains. Your money and profit that is stuck in the property has a monthly cost to it, because if you unlock that cash, you get to invest in tbills reits stocks earning 4-8%. While rentals are at 2% gross.. The nett rental is negative.

@savvyericchiew

6 ай бұрын

If you did the right calculations, the ROI is 15-20% on your money per annum which is why people get rich from investing good properties ✌️

@andrewufo

6 ай бұрын

​@@savvyericchiew i know you are a little bias, but if you reason from purely rental, it is loss making. Excluding price appreciation or depreciation to be fair.

@savvyericchiew

6 ай бұрын

@@andrewufoif you put appreciation away, just rental alone is 7-10% nett after all costs 👍 You can get higher than this if you add value to it 👏

@andrewufo

6 ай бұрын

@@savvyericchiew your rental yield after cost is 7-10%? Then before cost? What kind of miscalculations are you making

@savvyericchiew

6 ай бұрын

@@andrewufo I’m using one of my families unit to calculate. Rental minus interest, tax, etc over downpayment 🥂

Prop tax takes 1 month of rental, agent fee takes another 1 month, maintenance fee goes up higher....adding all cost, is it still worthy to buy for investment? No guaranteed capital appreciation now that its all time high. Quote - never ask a barber if you need a haircut😆

@savvyericchiew

6 ай бұрын

Yes still worth if buy the right property which has good appreciation 🥂

@User89000ss

6 ай бұрын

@@savvyericchiew I'm eager to buy but worried if will make money cos we are buying at the peak now and also super worried of retrenchment😫

@savvyericchiew

6 ай бұрын

@@User89000ss the risk is always the choice of property. Buy right and you will be fine 👍

Yr tax only $6k plus... hmm.. my friends stay at Park Infinia with approx 1700sqft pays $5k plus..

@savvyericchiew

6 ай бұрын

Condo rental is much higher 👍

Don’t forget, you have to pay income tax …

@savvyericchiew

6 ай бұрын

Pay less means earn less, pay more means earn more 🥂

Forget to include an interesting category. Those renovated 1-story or 2-story landed valued at $4m has a property AV of $30k only. Paid less than $1,000 for property tax.

@savvyericchiew

6 ай бұрын

Oh yes! Those old landed instead pay very little for property tax 👍

While Singaporeans are complaining, it is cheaper than when I come from, which is about 1% of the property value per year!

@savvyericchiew

6 ай бұрын

Wow

Greedy government!

@savvyericchiew

6 ай бұрын

😢😢

Eric you so huat kueh, additional 1.5k is nothing to you lah 😂

@savvyericchiew

6 ай бұрын

No choice right 😆