View Full Version : just to share: surprising thoughts of an ec owner
My friend who just bought an EC told me that he hates it when he needs to clarify that he bought an EC and thought that an EC is still a class lower than private even tho he enjoys good investment returns plus full private facilities as he bought a 4 bedder dual key at topiary. For the amount he pay, he can get at most a 2 +1 bedder PC at d19. He told me that once his property reaches the ten year mark, he will announce his property as private rather than EC. I have always thought that EC owners should be proud to own EC since not everyone is eligible to be entitles to this privilege due to income ceiling etc. surprised to know that he felt this way.
rymccondo77
14-07-13, 17:35
My friend who just bought an EC told me that he hates it when he needs to clarify that he bought an EC and thought that an EC is still a class lower than private even tho he enjoys good investment returns plus full private facilities as he bought a 4 bedder dual key at topiary. For the amount he pay, he can get at most a 2 +1 bedder PC at d19. He told me that once his property reaches the ten year mark, he will announce his property as private rather than EC. I have always thought that EC owners should be proud to own EC since not everyone is eligible to be entitles to this privilege due to income ceiling etc. surprised to know that he felt this way.
Topiary EC design is quite good (comparable to some PCs if not better) - too bad your friend don't seem to appreciate what he has bought!
My friend who just bought an EC told me that he hates it when he needs to clarify that he bought an EC and thought that an EC is still a class lower than private even tho he enjoys good investment returns plus full private facilities as he bought a 4 bedder dual key at topiary. For the amount he pay, he can get at most a 2 +1 bedder PC at d19. He told me that once his property reaches the ten year mark, he will announce his property as private rather than EC. I have always thought that EC owners should be proud to own EC since not everyone is eligible to be entitles to this privilege due to income ceiling etc. surprised to know that he felt this way.
no surprise, even though it might have past the 10yrs mark, we still view it as EC. some more left 8x years lease.
But if someone asked what property he owns, can he said private property after the tenth year mark? this is not wrong right as others will not said that he lied right?
Birth as an EC, always an EC, how to become private condo? :scared-3:
That is obviously an outright lie right?
But if someone asked what property he owns, can he said private property after the tenth year mark? this is not wrong right as others will not said that he lied right?
so far physically can tell the difference between a pc or ec, be it when walked into a show room or a completed project. nevertheless utimately pc or ec it's about better value to an investor and a place called home to a stayer:D
rymccondo77
14-07-13, 18:18
After 10 years, EC attains private status (i.e. can sell to foreigners like private condos) - so not wrong to say to its a private condo after 10 years.
(See article here:
http://sgexecutivecondo.com/executive_condominium_ec/ )
Anyway, those who bought ECs - just enjoy them :)
EC will always be sold at a lower rate compared to PC, it will always be lower than the PCs around the area. Having said that, owners have purchased at a lower cost than pc, so should not complain.
But yes, it appears that there is a stigma for EC owners. My friends also mentioned this. But for me, if I can get an EC, why not:cheers4:
rymccondo77
14-07-13, 18:28
That's one of the problems with Singaporeans - overly concerned about status and "face".
That's one of the problems with Singaporeans - overly concerned about status and "face".
What is the point of living if it is a life of self pity and disgrace ?
People like this dont know the meaning of life. They just live in the shades of others (who probably dont give a damn about them!).
So if you one of those who pass remarks like "Why you still single ?" "Why married still no kids?" "Why kids not in branded school?" "Why children not a professional?" ... you should start thinking about your own life lo!
We dont come to this earth to follow other people's life, we came here to lead our own lives !
Have a great journey my friends !
DKSG
rymccondo77
14-07-13, 18:44
What is the point of living if it is a life of self pity and disgrace ?
People like this dont know the meaning of life. They just live in the shades of others (who probably dont give a damn about them!).
So if you one of those who pass remarks like "Why you still single ?" "Why married still no kids?" "Why kids not in branded school?" "Why children not a professional?" ... you should start thinking about your own life lo!
We dont come to this earth to follow other people's life, we came here to lead our own lives !
Have a great journey my friends !
DKSG
One of my friends said this about his daughter who just graduated from the university:
"I am not concerned about what kind of job my daughter would get. I am more concerned about what kind of person my daughter would be in her job - I am more concerned about her character than her status."
One of my friends said this about his daughter who just graduated from the university:
"I am not concerned about what kind of job my daughter would get. I am more concerned about what kind of person my daughter would be in her job - I am more concerned about her character than her status."
This is the kind of friends you want to keep for the rest of your life!
Congrats! You found a real human being as a friend.
DKSG
rymccondo77
14-07-13, 18:49
This is the kind of friends you want to keep for the rest of your life!
Congrats! You found a real human being as a friend.
DKSG
Thank you :D
Hmmm so I guessed for ppl who really cares about face should spend more to get PC. But still, I have friends who still said her property is an Ec even tho it had way passed the tenth year mark. so if u really care about face, should continue to say your pty is an Ec even after ten yr in case ppl thought u are lying then lose more face! :tongue3:
... actually why are you surprised ? ... "face", is almost one of the most distinctive "feature" of Asian ( or shall I say Chinese ?) mindsets.
Why are there ppl willing to pay more and live in a small 2bd condo rather than a spacious 5room HDB ? "For the facilities, pool, etc". Really ?
And why are some condos blatantly advertising they are "more high class than others " ? There is a market for this.
Actually some Ec enjoys higher pricing than PC, eg Nuovo vs Castle green....albeit newer than Castle green by 7 yrs....but got quite a bit of their land chop by the new highway, leaving a much smaller common area that is already quite a bit smaller than Castle Green.
And Bishan loft:
SOLDON ADDRESS UNIT AREA(SQ FT) SALE PRICE($PSF) BOUGHTONPURCHASE PRICE($PSF) PROFIT($) HOLDING PERIOD ANNUALISED
(%)
2013-06-24 #XX-XX 1,378 1,198 2001-08-29 421 1,070,706 4,317 9.2
2013-04-15 #XX-XX 1,464 1,085 2001-09-12 426 964,776 4,233 8.4
2013-03-14 #XX-XX 1,184 1,060 2001-11-15 379 806,304 4,137 9.5
2013-03-11 #XX-XX 1,173 1,095 2009-04-01 571 614,652 1,440 17.9
2012-10-15 #XX-XX 1,346 1,174 2001-08-29 472 944,892 4,065 8.5
Million dolalr profit....
... actually why are you surprised ? ... "face", is almost one of the most distinctive "feature" of Asian ( or shall I say Chinese ?) mindsets.
Why are there ppl willing to pay more and live in a small 2bd condo rather than a spacious 5room HDB ? "For the facilities, pool, etc". Really ?
And why are some condos blatantly advertising they are "more high class than others " ? There is a market for this.
M surprised because if I can get an EC, I will be so proud of it cos not everyone can be eligible! it's like getting a good deal and worth celebrating isn't it? Those who bought PC are mostly those who are not eligible, if not everyone of course go for EC first!
Good house
14-07-13, 21:52
He is paying a Good price for a 4 bedder DK which he can only buy a 3 room Pc.
He should be proud of it as only ciitizen enjoy this privilege when certain criteria are fulfilled.
The so call PC EC class segregation are man make and all in the mind.
But one thing for sure, we are all paying a lot for housing here :doh:
Good house
14-07-13, 21:56
One of my friends said this about his daughter who just graduated from the university:
"I am not concerned about what kind of job my daughter would get. I am more concerned about what kind of person my daughter would be in her job - I am more concerned about her character than her status."
:cheers4: if only more more parents think and teach this way, we can have a much better society:)
bargain hunter
14-07-13, 23:13
frankly, i would stay in the 5rm hdb and invest in the 2 bd condo. that's just me. hahaha.
but u r right lah, sure there is this face thinghy which is getting worse.
so is singapore getting better or worse as more pple get sucked into the "face" thinghy?
... actually why are you surprised ? ... "face", is almost one of the most distinctive "feature" of Asian ( or shall I say Chinese ?) mindsets.
Why are there ppl willing to pay more and live in a small 2bd condo rather than a spacious 5room HDB ? "For the facilities, pool, etc". Really ?
And why are some condos blatantly advertising they are "more high class than others " ? There is a market for this.
aiyo, this fella so face conscious, then those who stay in HDB flats how?
he should consider himself privileged enough to have the chance to buy a 4 bed at an EC.
just name the project you staying lor, if it really matters so much to them whether it is EC or PC.
That's one of the problems with Singaporeans - overly concerned about status and "face".
The best part is they don't even have money, and yet want status and "face". Feel sorry for them. If the person really had the means and was so status conscious why buy EC?
That's one of the problems with Singaporeans - overly concerned about status and "face".
+1 ........
What is the point of living if it is a life of self pity and disgrace ?
People like this dont know the meaning of life. They just live in the shades of others (who probably dont give a damn about them!).
So if you one of those who pass remarks like "Why you still single ?" "Why married still no kids?" "Why kids not in branded school?" "Why children not a professional?" ... you should start thinking about your own life lo!
We dont come to this earth to follow other people's life, we came here to lead our own lives !
Have a great journey my friends !
DKSG
Well said bro. I live under such constant questioning until I tak boleh tahan moved out by myself at age 30 and never look back since.
The best part is they don't even have money, and yet want status and "face". Feel sorry for them. If the person really had the means and was so status conscious why buy EC?
My kind advice to him or her is please do go buy an MM fast. Then can announce to the whole wide world owner of a private boutique condo. How atas is that?!?
Good house
15-07-13, 09:41
My kind advice to him or her is please do go buy an MM fast. Then can announce to the whole wide world owner of a private boutique condo. How atas is that?!?
This is a good one
* HDB vs condo - people go for condo because have facilities, obvious.
* apt vs condo - people go for condo because have facilities, obvious.
* Orchard vs Jurong - people go for orchard if can afford it because of life-style, centralised location, convenient to anywhere, high-end shopping, varieties of shops, Orchard Road being touted as "one of the best shopping street in the world...", obvious. Add on bonus is "got more face"!
* J Gateway vs Lakeholmz - People pay $1700 psf to buy J Gateway when they can buy Lakeholmz at $900 psf???! <- Now this is what I can't understand!
Both are in JLD, J Gateway priced at $800 psf OR 89% more than Lakeholmz, still need to pay interest for next 4 years before it TOP while Lakeholmz can straight away collect rental. Want new? Spent $100 psf on renovation and you can make you house like new! Don't need to buy new launch because you still don't know what you see (in showroom) is what you will finally get (and 99.9999999% you don't get exactly what you see)!
... actually why are you surprised ? ... "face", is almost one of the most distinctive "feature" of Asian ( or shall I say Chinese ?) mindsets.
Why are there ppl willing to pay more and live in a small 2bd condo rather than a spacious 5room HDB ? "For the facilities, pool, etc". Really ?
And why are some condos blatantly advertising they are "more high class than others " ? There is a market for this.
But to think in another way, what is there to be proud of when you are also announcing to the world that you family household income is only less than $10k per month? (that you earning so little and that is why govt allow you to buy an EC) :doh:
M surprised because if I can get an EC, I will be so proud of it cos not everyone can be eligible! it's like getting a good deal and worth celebrating isn't it? Those who bought PC are mostly those who are not eligible, if not everyone of course go for EC first!
My friend who just bought an EC told me that he hates it when he needs to clarify that he bought an EC and thought that an EC is still a class lower than private even tho he enjoys good investment returns plus full private facilities as he bought a 4 bedder dual key at topiary. For the amount he pay, he can get at most a 2 +1 bedder PC at d19. He told me that once his property reaches the ten year mark, he will announce his property as private rather than EC. I have always thought that EC owners should be proud to own EC since not everyone is eligible to be entitles to this privilege due to income ceiling etc. surprised to know that he felt this way.
First n foremost don borther to explain to ppl.
You don need a assurance from other to live your live..tell to your fiend to lie low profile if possible. . You can't change other perception.
rymccondo77
15-07-13, 10:38
But to think in another way, what is there to be proud of when you are also announcing to the world that you family household income is only less than $10k per month? (that you earning so little and that is why govt allow you to buy an EC) :doh:
Its $12K now. If its one person in the household earning close to $12K (the spouse is not working, and less than 35 years old), that person is doing quite well!
But to think in another way, what is there to be proud of when you are also announcing to the world that you family household income is only less than $10k per month? (that you earning so little and that is why govt allow you to buy an EC) :doh:
Small correction, is 12k gross monthly household now..:D
darkseed73
15-07-13, 10:58
That's one of the problems with Singaporeans - overly concerned about status and "face".
+1
To me "Value for money" is really more important then anything else.
People can laugh and mock at others staying in EC but frankly speaking EC is more value for money then PC especially these days EC have theme like (Fraser's Esparina with 7 spa and near MRT, CDL's Rain Forest etc) all these from good developers and cost only like??
Plus EC tends to be bigger in sizes - some ECs even remove 1-2 bedders only sells 3 bedroom onwards.
For own stay EC is sure worth it - yet some ppl doesn't see "value" in that sense and for such ppl they will never be rich becos they don't know true "value" even if they sees one.
Totally agree with value for money statement. Wish I had the privilege of buying an EC.
+1
To me "Value for money" is really more important then anything else.
People can laugh and mock at others staying in EC but frankly speaking EC is more value for money then PC especially these days EC have theme like (Fraser's Esparina with 7 spa and near MRT, CDL's Rain Forest etc) all these from good developers and cost only like??
Plus EC tends to be bigger in sizes - some ECs even remove 1-2 bedders only sells 3 bedroom onwards.
For own stay EC is sure worth it - yet some ppl doesn't see "value" in that sense and for such ppl they will never be rich becos they don't know true "value" even if they sees one.
But to think in another way, what is there to be proud of when you are also announcing to the world that you family household income is only less than $10k per month? (that you earning so little and that is why govt allow you to buy an EC) :doh:
You will surprised that many who claims to earn below $10k per month drove branded cars wearing bermudas to EC showflats.
They will asked the max income required for EC and get their secretary to type into the salary declaration letter for HDB.
rymccondo77
15-07-13, 11:32
Topiary is sold out if I am not mistaken.
If this person is so "ashamed" about his EC, he can give it up - there will be people wanting to buy his DK unit !!!
I am aware of that, but let's be practical:
If you are earning $20k per month from business, declaring <$12k per month may not be easy to detect.
If you are earning >$100k per month from business, you try declaring <$12k per month and you think IRAS don't know and won't be able to find out? :rolleyes:
You will surprised that many who claims to earn below $10k per month drove branded cars wearing bermudas to EC showflats.
They will asked the max income required for EC and get their secretary to type into the salary declaration letter for HDB.
EC buyers are earning $12k and below ONLY AT THE POINT of buying EC. Even a day after HDB approved the application and the buyer turned into a millionaire, no one can make this buyer forfeit his EC purchase. Be proud and feel privilege to be able to be eligible to own an EC folks!
it is all in the mind. i would rather stay HDB and own 10 PCs...
anyway, can always say "stay in condo" lor... haha.
What's the point of telling ppl what u buy?
Mostly not into ppty also dunno what is EC.
They only scare u wanna borrow $ from them:D
I have never met anybody who own more than 1 condo and does not live in a condo... may be you are the only odd one out? :p
it is all in the mind. i would rather stay HDB and own 10 PCs...
anyway, can always say "stay in condo" lor... haha.
bargain hunter
15-07-13, 14:02
i know a lot of pple who stay in hdb who own multiple condos.
I have never met anybody who own more than 1 condo and does not live in a condo... may be you are the only odd one out? :p
bargain hunter
15-07-13, 14:05
the hint comes from the fact that there are some hdb carparks where you can find residents driving BMW 7 series, porsches, higher end models of audis, volvos and jaguars.
bargain hunter
15-07-13, 14:17
actually, other than the pple i know, i am sure there are many other MM investors who have a family and thus cannot stay in an MM. They would stay in a comfortable sized HDB and invest in multiple MM units.
an MM unit costs 4xxk? 2 of it would be 8xxk "only".
astroboy8681
15-07-13, 14:17
bargain hunter, how do you even know all transactions / units for project launches?:beats-me-man:
Is this info a paid service from some website or working for URA?:D
bargain hunter
15-07-13, 15:32
this information is from URA website:
https://www.ura.gov.sg/realEstateIIWeb/price/search.action
simply select "Jun" for last month's sales. :)
bargain hunter, how do you even know all transactions / units for project launches?:beats-me-man:
Is this info a paid service from some website or working for URA?:D
astroboy8681
15-07-13, 16:06
this information is from URA website:
https://www.ura.gov.sg/realEstateIIWeb/price/search.action
simply select "Jun" for last month's sales. :)
many thanks!!! i'm such a newbie... :ashamed1:
Prefer bargain hunter old style post all project sales figures under one posting.
I have never met anybody who own more than 1 condo and does not live in a condo... may be you are the only odd one out? :p
Yes there is one I knew who pulled resources together to buy 3MMs RCR, 1cluster landed, 1city fringe 3 bedder, Penang, Philippine, London. Staying in a 3 room HDB flat in city. It's not me, but a gung ho I salute. Started only 2009, planning to retire by end of this decade. Not an agent but a very savvy, gutsy S'porean
Allthepies
16-07-13, 13:40
* HDB vs condo - people go for condo because have facilities, obvious.
bro, may not be always true, some go for condo because of "face" :D:D:D
i go for condo for investment
bargain hunter
16-07-13, 14:21
ok ok, next month. :ashamed1:
i did post the top 30 sales in that 1 post leh. but i see no one respond there mah, so updated each thread lor. :D
Prefer bargain hunter old style post all project sales figures under one posting.
rymccondo77
16-07-13, 16:29
ok ok, next month. :ashamed1:
i did post the top 30 sales in that 1 post leh. but i see no one respond there mah, so updated each thread lor. :D
I saw that post - thanks and keep up the great work :cheers4:
Birth as an EC, always an EC, how to become private condo? :scared-3:
That is obviously an outright lie right?
Who F care? EC look like PC . PC look like EC. EC not like HDB flat or even BTO. so its a PC.
its in the mind thats a EC stigma. its great value buy too bad they get bluff by people like u painting fake perception.
He is paying a Good price for a 4 bedder DK which he can only buy a 3 room Pc.
He should be proud of it as only ciitizen enjoy this privilege when certain criteria are fulfilled.
The so call PC EC class segregation are man make and all in the mind.
But one thing for sure, we are all paying a lot for housing here :doh:
yes way too much for the kind of cmi quality and workmanship ... esp ch developer :doh:
I have never met anybody who own more than 1 condo and does not live in a condo... may be you are the only odd one out? :p
You never met that does not mean don't have.
ok ok, next month. :ashamed1:
i did post the top 30 sales in that 1 post leh. but i see no one respond there mah, so updated each thread lor. :D
Quietly reading in silent appreciation ma... Teehee. But realised the single list no have "out of x units"....
it is all in the mind. i would rather stay HDB and own 10 PCs...
anyway, can always say "stay in condo" lor... haha.
Brudder, your thinking is fabulous.....
Do not spend to current earning... Spend to future retirement earning... So when u retire, u will still be living to your current standard of living... No need to downgrade...
But if u have 10 condo, don't be so hard on yourself, stay in one... :)
Why, u have attained a certain degree of financial capability and must pamper yourself lah.... I thin once u reach 4 condo, shift into one and enjoy the fruits of your work hard... :)
Today in a mood for tcss... But this is my belief that u must enjoy a bit once u reach your goal if not the money also useless...
Cheers bro:D
Brudder, your thinking is fabulous.....
Do not spend to current earning... Spend to future retirement earning... So when u retire, u will still be living to your current standard of living... No need to downgrade...
But if u have 10 condo, don't be so hard on yourself, stay in one... :)
Why, u have attained a certain degree of financial capability and must pamper yourself lah.... I thin once u reach 4 condo, shift into one and enjoy the fruits of your work hard... :)
Today in a mood for tcss... But this is my belief that u must enjoy a bit once u reach your goal if not the money also useless...
Cheers bro:D
agree, enjoy the process of growing the wealth. when you have 5, i think you can afford to semi retire and go use the condo facilities everyday.
people drop dead like flies for no reason these days.
better dont keep everything till the end to enjoy.
bargain hunter
17-07-13, 09:59
just to share why one of my friends who is a multiple condo owner stays in hdb and does not move into one of the condos. becoz he has attained that certain degree of capability, he would rather bring his family on frequent lavish holidays. he is also often touring and enjoying himself, hence did not see the need to stay in a condo.
he is also quite giam siap lah (that's how he got very rich haha). his carribean's $600+/month maintenence for a 3 bedder, he cannot bring himself to stay there as he is an investor. he said it does not make cash flow sense. better to let tenant cover the $600.
Brudder, your thinking is fabulous.....
Do not spend to current earning... Spend to future retirement earning... So when u retire, u will still be living to your current standard of living... No need to downgrade...
But if u have 10 condo, don't be so hard on yourself, stay in one... :)
Why, u have attained a certain degree of financial capability and must pamper yourself lah.... I thin once u reach 4 condo, shift into one and enjoy the fruits of your work hard... :)
Today in a mood for tcss... But this is my belief that u must enjoy a bit once u reach your goal if not the money also useless...
Cheers bro:D
bargain hunter
17-07-13, 10:01
that's very true. but its lifestyle choices. some people simply enjoy staying all over the world than in a condo in sg.
people drop dead like flies for no reason these days.
better dont keep everything till the end to enjoy.
just to share why one of my friends who is a multiple condo owner stays in hdb and does not move into one of the condos. becoz he has attained that certain degree of capability, he would rather bring his family on frequent lavish holidays. he is also often touring and enjoying himself, hence did not see the need to stay in a condo.
he is also quite giam siap lah (that's how he got very rich haha). his carribean's $600+/month maintenence for a 3 bedder, he cannot bring himself to stay there as he is an investor. he said it does not make cash flow sense. better to let tenant cover the $600.
Brudder, I understand... I have friends who are super rich... Bungalow 12k sq ft. Multi props, also hagger over 10cents...
But I believe in enjoying abit lah.... So every ones philosophy diff...
I found out those rich buggers tend to be damn Kim siap... Hahahaha
There are still quite some of these people who have not reach "enlightenment".......................
They think they can bring the money to next life?
They leave so much money to their kids they don't know actually detrimental to their kids than being good to them?
End up many of these kids squander all their money that they don't want to enjoy or get cheated or .......................
What for? :rolleyes:
just to share why one of my friends who is a multiple condo owner stays in hdb and does not move into one of the condos. becoz he has attained that certain degree of capability, he would rather bring his family on frequent lavish holidays. he is also often touring and enjoying himself, hence did not see the need to stay in a condo.
he is also quite giam siap lah (that's how he got very rich haha). his carribean's $600+/month maintenence for a 3 bedder, he cannot bring himself to stay there as he is an investor. he said it does not make cash flow sense. better to let tenant cover the $600.
bargain hunter
17-07-13, 19:30
i don't know how to put it. they choose to live a frugal lifestyle not becoz they choose to "suffer". they are just contented. that's good right? then the next generation will also be brought up frugal instead of being brought up in an atas condo and take everything for granted?
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