Monday, 22 July 2013

Featured - An interview with Mr Fendy Lee, on housing issues

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We have seen many BTOs coming up in the past 2 years. However the ratio of supply to demand remains high. Take for example a 4-Room flat, waterway unit at Punggol. The ration may seemed to be 1:3.

Congrats to those who are given a queue number. But we have seen the drop out rate among the potential buyers. So maybe those who have been given a number only wanted the best unit or nothing at all. Have they considered their options?

Whether it is BTO, Resale, Private property, there will definitely be a market for everyone.

Today, we are privillege of speaking to Huttons Real Estate Group's Associate Division Director, Mr Fendy Lee. Who will be sharing on the resale/private market.

JD: Thanks for accepting our interview Fendy, 1st up, do you personally thinks the current resale market is sky high?

Fendy: Current market is high, not yet sky high. As Supply here is still limited. Looking at recent new launches, buyers are still buying (example J-Gateway at Jurong East sold within a day 700+ units)

JD: Previously, we saw that you gave some tips on buying a condo at Punggol, so is punggol really that great place to be? as we all know it is so far from town.

Fendy: Punggol is an ideal place for mostly young couple who wants a "New" property (age less than 10yrs) with high capital gain in next 5yrs. Location does not really play a part now, as each town have their own unique selling point, self sustaintable, probably they do not need to go town where they need to queue for expensive carpark space and pay ERP.

JD: Nice answer, any word of advice for couples who earned more than 10k? Should they get a resale HDB or condo?

Fendy: It will be dependent on their personal expenses every month. If the couple owns a car, several credit cards and other liabilities, i would suggest buying a HDB unit. It is "easier" for young buyers who is buying for own stay, as HDB flat is the "cheapest" and heavily subsidised by government. Unless they are buying for investment and they are staying with parents, then it's a different.

JD: Whats your inspiration in life?

Fendy: My family, my wife, and passion keep me going!

JD: Nice to hear that! We know that in DWG, you guys work as a team, do you co-close a deal and profits will be divided?

Fendy: I have recently switched over to Huttons. Team work is important in any company you are working. However you need a good mentor who is willing to guide them through. Deals closed together may not be shared, as HDB buyers pay to the buyer's agent, as sellers pay to their seller's agent. We help each other to get the right clients.

JD: Interesting. Lastly, Do you have any message for anyone who wants to go into this line? We all know the commission can be quite good :)

Fendy: My message is simple. Start now!
You only live once, don't you? Ask yourselves, how you want to lead your life? Are you passionate with your current job? Where you want to be in next 10yrs? What will your lifestyle you really want?

Wow, with that, we conclude the interview with Fendy. Interesting answer given and lots of great information shared. For buyers like me who have no problem fitting into the current BTO programe, the choice is yours. You want your flat to come faster, go for resale flat. Want new and no waiting time, look out for Sale of balance flat. But take note that this is like buying lottery with sky high prices.

For potential Sellers/Buyers who might want to know more about resale flat or private property, you may contact Mr Fendy Lee at 9388 5825.

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