View Full Version : High Park Residences from 3xxk?
propertyreview
20-05-15, 20:27
Launching soon at Fernvale, High Park Residences seems to be launching at super low quantum... Haven't seen this type of quantum for awhile. Average price should be about $1,000 psf. Seems pretty attractive for a private condominum with full condo facilities? almost like a condo selling at EC Price?
Developer now seems to price units at lower quantum..
Latest Indicative Price
Studio: 3xxk
1 Bedroom: from 4xxk
2 Bedrooms: From 5xxk
3 Bedrooms: from 7xxk
4 Bedrooms from 1.0xm
5 bedrooms from 1.3m
Specification
Developer: JV between Kim Seng Heng, Heeton Holdings and Chip Eng Seng.
Total Units: 1,399 Units
Type: Full Condo Facilities
Tenure: 99 Years
RSVP for High Park Residences Showflat Preview (http://www.propertyreview.sg/high-park-residences/). Will share brochure soon. stay tune.
EC price is around 800psf... si how is this considered like EC price??
EC price is around 800psf... si how is this considered like EC price??
Advertisement. Can believe meh?
Advertisement. Can believe meh?
As the news put it, 13**psf in Yishun and Bartley is conservative pricing.
So the new EC pricing is 1000psf.
Believe?
As the news put it, 13**psf in Yishun and Bartley is conservative pricing.
So the new EC pricing is 1000psf.
Believe?
News also get its source info from developers. Hence need to take it with a pinch of salt.
EC pricing hard to exceed way beyond the psychological level of 800psf, amidst EC oversupply currently.
http://www.theedgeproperty.com/content/bargain-hunting
Latest EC to be launched is Westwood. It's also priced at 800psf, 50psf lower than the previously launched Lake Life, despite [quote]...Westwood's developers remain upbeat about the EC's potential to move units, citing a strong value proposition due to strategic location and product differentiation. "In Jurong, this is the second EC in 18 years, so the pent-up demand is there...[unquote]. Plus they even throw in [quote]...a free foldable bike with every purchase of a unit. They also stand a chance to win S$18,000 Pinarello and S$28,000 Storck bikes in lucky draws conducted every 120 units moved...[unquote]. So can guess the amount of effort put in to move this latest EC using low psf, discount in kind and free gifts in lucky draw.
http://www.channelnewsasia.com/news/singapore/signs-of-pricing-pressure/1844760.html
http://business.asiaone.com/news/lower-indicative-price-new-ec-jurong
http://business.asiaone.com/news/westwood-residences-rides-ec-market
The upcoming EC to be launched is Brownstone just beside the newly announced Canberra station. This may have a possibility to hit 850-900psf given its location and proximity. IMHO it's the next best thing to buy besides North Park Residences if u r eligible for it. But even so, it will be a very high risk for CDL to price it at 950-1000psf given that there are other competition lurking nearby - 1) another new development besides Brownstone, 2) Skypark, 3) another new development besides Skypark, 4) Bellewoods, 5) Forestville and 6) Twin Fountains.
Therefore, to sum things up, the observation is that the new EC pricing is 1000psf is true if the definition of "new" is "not within these few years". Hence, belief depends on how the sales talk is spun and sugar coated.
Very true. ECs need to meet very stringent conditions to qualify. Household income cannot exceed 12K, yet must meet MSR ratio instead of TDSR (if I am not mistaken). Don't know if the ministry made a mistake about it.
News also get its source info from developers. Hence need to take it with a pinch of salt.
EC pricing hard to exceed way beyond the psychological level of 800psf, amidst EC oversupply currently.
http://www.theedgeproperty.com/content/bargain-hunting
Latest EC to be launched is Westwood. It's also priced at 800psf, 50psf lower than the previously launched Lake Life, despite [quote]...Westwood's developers remain upbeat about the EC's potential to move units, citing a strong value proposition due to strategic location and product differentiation. "In Jurong, this is the second EC in 18 years, so the pent-up demand is there...[unquote]. Plus they even throw in [quote]...a free foldable bike with every purchase of a unit. They also stand a chance to win S$18,000 Pinarello and S$28,000 Storck bikes in lucky draws conducted every 120 units moved...[unquote]. So can guess the amount of effort put in to move this latest EC using low psf, discount in kind and free gifts in lucky draw.
http://www.channelnewsasia.com/news/singapore/signs-of-pricing-pressure/1844760.html
http://business.asiaone.com/news/lower-indicative-price-new-ec-jurong
http://business.asiaone.com/news/westwood-residences-rides-ec-market
The upcoming EC to be launched is Brownstone just beside the newly announced Canberra station. This may have a possibility to hit 850-900psf given its location and proximity. IMHO it's the next best thing to buy besides North Park Residences if u r eligible for it. But even so, it will be a very high risk for CDL to price it at 950-1000psf given that there are other competition lurking nearby - 1) another new development besides Brownstone, 2) Skypark, 3) another new development besides Skypark, 4) Bellewoods, 5) Forestville and 6) Twin Fountains.
Therefore, to sum things up, the observation is that the new EC pricing is 1000psf is true if the definition of "new" is "not within these few years". Hence, belief depends on how the sales talk is spun and sugar coated.
It's very interesting to market an EC with bike garage...
I am not really sure about the rate of buy-ins.
Although cycling (to work?) is an extremely common thing especially in the west, I suspect that the cyclists predominantly prefer to live in or to rent HDBs? Then again, who knows if the developer has seen something I haven't?
It's very interesting to market an EC with bike garage...
I am not really sure about the rate of buy-ins.
Although cycling (to work?) is an extremely common thing especially in the west, I suspect that the cyclists predominantly prefer to live in or to rent HDBs? Then again, who knows if the developer has seen something I haven't?
A private condominium situated right next to Westwood, called 'Floravale' is currently going for $650- $700 psf. The usual pricing is for an EC to be $200 psf below that of a comparable private condo, given the limitations that come along with an EC, ie, income caps, MSR ratio, resale levy, 5 years MOP, another 5 years S'poreans only etc...
If Westwood EC is to succeed despite the above factors with its $800 psf pricing, it shows the extent S'poreans place a premium on new constructions over existing properties....or the ignorance that exists in the marketplace today.....
Very true. ECs need to meet very stringent conditions to qualify. Household income cannot exceed 12K, yet must meet MSR ratio instead of TDSR (if I am not mistaken). Don't know if the ministry made a mistake about it.
This article is even more interesting, addressing all your concerns in the final line.
http://www.theedgeproperty.com/sg/content/700000-downpayment-ec-unit-jurong
Dun know if that's the reason why ECs have more returned units than private developments.
A private condominium situated right next to Westwood, called 'Floravale' is currently going for $650- $700 psf. The usual pricing is for an EC to be $200 psf below that of a comparable private condo, given the limitations that come along with an EC, ie, income caps, MSR ratio, resale levy, 5 years MOP, another 5 years S'poreans only etc...
If Westwood EC is to succeed despite the above factors with its $800 psf pricing, it shows the extent S'poreans place a premium on new constructions over existing properties....or the ignorance that exists in the marketplace today.....
I think it makes more financial sense to get a built property based on the situations for most with the investor mindset. Greater cash flow, more flexibility of funds etc.
New properties might be more for own stay (psychological reasons) / saving more capital as buffer etc.
Sometimes its also due to the increased costs and lack of labour that developers and construction firms have to deal with.
A private condominium situated right next to Westwood, called 'Floravale' is currently going for $650- $700 psf. The usual pricing is for an EC to be $200 psf below that of a comparable private condo, given the limitations that come along with an EC, ie, income caps, MSR ratio, resale levy, 5 years MOP, another 5 years S'poreans only etc...
If Westwood EC is to succeed despite the above factors with its $800 psf pricing, it shows the extent S'poreans place a premium on new constructions over existing properties....or the ignorance that exists in the marketplace today.....
Floravale started out as a EC, right? It TOP in 2000. MOP and all other restrictions r over now and hence a pte condo now. Land price then and now r not comparable already. Construction costs then and now r also not comparable already, esp now when prefab tech is mandatory for all new EC construction nowadays. Therefore to price an EC $200psf below a "old" nearby comparable private development is not feasible. A perhaps more appropriate apple-to-apple approach is to price an EC $200psf below a "new" nearby comparable private development.
Regardless Westwood succeeds or not, and/or regardless ignorant or not, Singaporeans definitely place a premium on new constructions over existing developments. "New is always better than old" is a common human nature mentality, with a price to pay to opt for the former. Now it all boils down to the price paid and the premium placed on whether they are worth that value or not. And different people have different interpretations to it depending on their different needs and different wants and different wishes. Therefore, to each his own. It's a free market.
It's very interesting to market an EC with bike garage...
I am not really sure about the rate of buy-ins.
Although cycling (to work?) is an extremely common thing especially in the west, I suspect that the cyclists predominantly prefer to live in or to rent HDBs? Then again, who knows if the developer has seen something I haven't?
Perhaps the developer envisions the residents to cycle to nearby schools and universities to study, to cycle to nearby army camps to serve NS, to cycle to nearby industrial areas to work, and to cycle to the 2nd CBD in Singapore to work, play, eat and shop.
But if I do not know how to cycle and/or I have cyclephobia, why would I pay for the maintenance of the bike garage, velodrome, bike maintenance area, cycling pit stop, bike trail, traffic garden, bicycle moulds and box adventure? Jus wondering why the developer chose this activity as its selling point. This will reduce their targeted market size. Also, are these facilities open to electric bicycles? How abt skaters and bladers? Guess a lot of teething issues will surface and they need to be resolved once this whole thing go operational.
We have very similar viewpoints pertaining to property indeed. Glad to meet a like-minded individual. Haha...
Perhaps the developer envisions the residents to cycle to nearby schools and universities to study, to cycle to nearby army camps to serve NS, to cycle to nearby industrial areas to work, and to cycle to the 2nd CBD in Singapore to work, play, eat and shop.
But if I do not know how to cycle and/or I have cyclephobia, why would I pay for the maintenance of the bike garage, velodrome, bike maintenance area, cycling pit stop, bike trail, traffic garden, bicycle moulds and box adventure? Jus wondering why the developer chose this activity as its selling point. This will reduce their targeted market size. Also, are these facilities open to electric bicycles? How abt skaters and bladers? Guess a lot of teething issues will surface and they need to be resolved once this whole thing go operational.
The last 3xxk new launch was at rosewood suites 3 years ago.
The last 3xxk new launch was at rosewood suites 3 years ago.
Rosewood suites got launched at 3xxk meh? Think minimum is 4xxk bah? And believe it was launched in 2008, 7 yrs ago. Last but not least, the developer is El Development, the same developer for Trivelis.
http://www.straitstimes.com/Money/Story/STIStory_302149.html
November 14, 2008 Friday
Condo launch goes ahead despite gloom
Developer to roll out Woodlands project on back of solid soft launch
By Joyce Teo, Property Correspondent
http://www.straitstimes.com/STI/STIMEDIA/image/20081113/ST_IMAGES_ROSE14.jpg
Prices at the 200-unit, 99-year leasehold development start from $435,000 for a two-bedroom unit and go up to $1.1 million for a four-bedroom ground floor unit. -- PHOTO: EL DEVELOPMENT
A DEVELOPER is rolling out a rare condominium launch in Woodlands this weekend - optimistic that lower-than-planned prices will draw buyers, despite the gloomy market conditions.
EL Development is launching the 99-year leasehold, 200-unit Rosewood Suites at $580 per sq ft (psf) on average.
The developer held a sneak preview to test the market a fortnight ago and then a soft launch last weekend, when it sold half of the 60 units launched.
Launches have been few and far between in recent months as most developers continue to hold off, given the volatile markets and poor sentiment.
'We tested the market...and we were pleasantly surprised that the response was good, so we are going ahead with the launch,' said Mr Lim Yew Soon, managing director of EL Development, a unit of local builder Evan Lim & Co.
'If we had waited till next year, there would be a lot of competition. It's better to have a first-mover advantage.'
Rosewood Suites is a five-storey development with one- to four-bedroom apartments. It is in Rosewood Drive, next to the 99-year, 478-unit Casablanca condominium and opposite Innova Junior College. The popular suburban mall, Causeway Point, and Woodlands MRT station are both within walking distance.
Prices start from $435,000 for a two-bedroom unit and go up to $1.1 million for a four-bedroom ground-floor unit. This works out to $500psf to $660psf.
'Our earlier price expectations were higher. We benchmarked current prices against the prices of older condos in the area,' said Mr Lim. Those who bought at the soft launch received a 2 per cent discount from these price levels, he said.
'It is a fair value in today's market,' said Knight Frank director of research and consultancy Nicholas Mak. 'There has not been a major development launch in the area for a long time so there will be some latent HDB upgrader demand.'
Mr Lim said the buyers were mostly dwellers of nearby flats and condominiums. There are two other condominiums in Rosewood Drive - Casablanca and Rosewood.
At Casablanca, two caveats lodged in September and October showed that two 1,184sqft units were sold at $541psf and $549psf, or $640,000 and $650,000.
Caveats lodged in the same months at the 437-unit Rosewood showed that two 1,173sqft units were sold for $537psf to $550psf, or at $630,000 and $645,000.
Rosewood Suites' penthouses, priced from $700,000 to $1.4 million, will be released only when 'times are better'.
EL Development bought the Rosewood Suites site from the Singapore Land Authority in November last year when prices were strong. It topped a tender that drew eight bidders with a price of $56 million or $232psf per plot ratio.
Mr Lim had then said that they had planned to launch the project in the third quarter of this year, and sell it for about $600 psf to $650 psf.
[email protected]
High park 3xxk new launch is for studio units at approx 400sqft or 40sqm. Currently there r 2 different groups of sources saying 2 different areas - 1 group says 388-398sqft while the other says 398-431sqft. Gotta wait till official announcement in order to know the real measurements. Nevertheless, we may be looking at a price of 926-1028psf.
[quote] High Park Residences developer bid for Fernvale Road Parcel A which is 178,723 sq ft is $234.9 million and Parcel B which is 187,441 sq ft is $252.1 million. Basing on the land bid amount, we estimate an average breakeven price of $847 psf thus assuming a 15% profit average price should be $974 psf which mean bigger unit may start at low to mid side of the $9xx psf. Assuming the 1 Bedroom has size of 495 sqft then price should be starting from in around low side of $4xxK. And if size are closer to 400 sqft then we will probably see $3xxK type of starting prices.[unquote]
Oops its parc rosewood. Many of their 2nd floor units were selling at 398k during vip preview.
Oops its parc rosewood. Many of their 2nd floor units were selling at 398k during vip preview.
Ah. Then it sounds about right lah. Those r 1 bedders @ 431sqft translating to 923psf and up. There r a total of 282 of these 1 bedders, out of a total 689 units. Site was original meant for 390 units but the JV developers reconfigured it to accommodate more smaller studio apartments. Can't help it but wonder if is it because one of the developers is Fragrance Group. Anyway, the gamble worked and it is fully sold out now. As for high park, their 3xxk units are a subset of the 40sqm configuration totaled 72 units, out of the total 1390 residential units in this development. Hence clearly, the strategy is different.
Home Lover
23-05-15, 09:34
Hi
3xxK looks very attractive. What would be the monthly maintenance ?
Hi
3xxK looks very attractive. What would be the monthly maintenance ?
Ya. And 40sqm looks very attractive too. And it's so convenient. Everything is all within touching distance. No need remote control liao. :D
3xxk can rent for 1.5k and still get positive yield.
3xxk can rent for 1.5k and still get positive yield.
If can get tenants lah with so much supply in that area recently...
If can get tenants lah with so much supply in that area recently...
Exactly. With interest rates rising soon, many owners are already starting to face difficulties. While I hope deep inside that all of you will continuing purchasing units for rental so that I can grab your cheap units from the auctions in the following years, I advise you to make sure that you have sufficient buffer.
$3xxk to buy high park residence is better than u buy oversupply iskandar property.
At least it is in Singapore. I say buy this high park if u plan to buy iskandar. Iskandar run high risk of no rental.
Near LRT, not too near from seletar mall. Tenants maybe come from seletar aerospace.
Site plan, the 3xxk studios all facing sengkang west way and the fernvale foliage and flora bto, with an overhead bridge in the middle.
http://slc.com.sg/wp-content/uploads/2015/05/25699/High-Park-Residences-site-plan.jpg
$3xxk to buy high park residence is better than u buy oversupply iskandar property.
At least it is in Singapore. I say buy this high park if u plan to buy iskandar. Iskandar run high risk of no rental.
Near LRT, not too near from seletar mall. Tenants maybe come from seletar aerospace.
True. Buy high park is better than buy iskandar. Buy EC is better than buy high park. Buy hdb/bto is better than buy EC. Dun buy becos it's low quantum. Buy becos u need it u want it u wish for it. Buy becos u believe in it. Whether it comes true or not only u will know down the road.
Ah. This is very good info. Now we know there are 3 stacks for studios. There are 72 studios in total. That means each stack has 24 units. 3xxk is the starting from indicative price only. Assuming that this is only for low floor units, we are looking at a possible 5 x 3 = 15 units only with this 3xxk pricing. So for those who wanna grab these low quantum units, hurry up while stocks last. :)
Site plan, the 3xxk studios all facing sengkang west way and the fernvale foliage and flora bto, with an overhead bridge in the middle.
http://slc.com.sg/wp-content/uploads/2015/05/25699/High-Park-Residences-site-plan.jpg
True. Buy high park is better than buy iskandar. Buy EC is better than buy high park. Buy hdb/bto is better than buy EC. Dun buy becos it's low quantum. Buy becos u need it u want it u wish for it. Buy becos u believe in it. Whether it comes true or not only u will know down the road.
Not many here can qualify for EC or bto. Must compare private to private. Whether u prefer private condo in iskandar or private condo in singapore.
If can buy EC or bto no matter u got private property people here sure chiong in liao. I think some may even buy whole floor of bto flat. Hahaha.
Some like to stretch themselves to buy private even though they r qualified to buy ec or bto. Even if they are ineligible, still can buy resale right? Anyway, ur point noted. In short, apple to apple comparison mah...
The last cheapest unit in fernvale is riverbank 495sqft 1 bedder at 476k.
Rental performance of those 398k parc rosewood units have a minimum rental of $1500 in April so far.
Where is high park and where is Parc rosewood? When does high park top and when did Parc rosewood top? Risky to use historical trend to predict future performance.
If can buy EC or bto no matter u got private property people here sure chiong in liao. I think some may even buy whole floor of bto flat. Hahaha.
Yeah if can freely buy hdb I will aim to buy a block of it.
Just kidding. A floor is super ambitious already.
Yeah if can freely buy hdb I will aim to buy a block of it.
Just kidding. A floor is super ambitious already.
Lol. I immediately think of - should I buy a whole floor of executive maisonettes on the highest level of a point block in bishan, or should I buy Mt Sinai? :D
They mentioned high park residences is Water theme park condo, Any idea what it is? they might have some play ground in pool?.
Recently HDB announced 2 Room Flat in Punggol area for $28000.This price has any impact in condo price?
After purchase price may drop? my concern is to buy or not. Currently i rent HDB and share with my friends.
Any suggestions are welcome.
They mentioned high park residences is Water theme park condo, Any idea what it is? they might have some play ground in pool?.
Recently HDB announced 2 Room Flat in Punggol area for $28000.This price has any impact in condo price?
After purchase price may drop? my concern is to buy or not. Currently i rent HDB and share with my friends.
Any suggestions are welcome.
Not selling for 28k. If you qualify for 60k grant, it is starting from 28k. But the grant will be recovered if you sell one day.
If you qualify why don't get HDB?
Not selling for 28k. If you qualify for 60k grant, it is starting from 28k. But the grant will be recovered if you sell one day.
If you qualify why don't get HDB?
Oh OK , I am not aware of 60K grant. Thanks
I am not local,So I am not qualified.
I am looking for cheaper condo for my own stay. I feel high park residence is more attractive price compared to other condo price .
I am just waiting for others suggestion
Oh OK , I am not aware of 60K grant. Thanks
I am not local,So I am not qualified.
I am looking for cheaper condo for my own stay. I feel high park residence is more attractive price compared to other condo price .
I am just waiting for others suggestion
It is cheap indeed. If have the funds ready and it's compatible with your lifestyle (work or study) why not? Do factor in 5% ABSD rate and (3%-5400) BSD rate plus lawyer fees. So whichever selling price, need to upfront pay up about 28% of it. So if selling price is 360K, you need about 100K. Do get a banker to verify if all the figures work based on your income and current debts.
Property now is a highly individualised game. One man's meat is another's poison, because everyone is paying different prices for the same property. Therefore, you have to be very clear what you are doing.
Good luck!
Oh OK , I am not aware of 60K grant. Thanks
I am not local,So I am not qualified.
I am looking for cheaper condo for my own stay. I feel high park residence is more attractive price compared to other condo price .
I am just waiting for others suggestion
U not citizen r u pr? Can buy resale hdb? Guess u know urself best when u say u not qualified to buy new hdb. Guess u can't buy EC also. So if u wan to buy a property and if u can't buy resale hdb, then private is the only option for u. Buy private also got 2 choices - buy new or buy resale. It all depends on what what u want (purchase vs rental; new vs resale; have to wait for few yrs before can move in for new vs can move in soon for resale) and what you have (future income, cash, other assets, liabilities, risk appetite). Best to check with a banker first then a property agent before u plan ur next move.
As on comment on this development, as kelonguni said, it is cheap indeed. But the floor area is small also. Average psf is abt 1k, which is comparable to other ocr developments launched recently, not including the mixed and the integrated ones. Therefore, look cautiously before u leap, plan carefully before u buy. And to quote kelonguni - "...you have to be very clear what you are doing. Good luck!" And from me - ALL THE BEST!!!
U not citizen r u pr? Can buy resale hdb? Guess u know urself best when u say u not qualified to buy new hdb. Guess u can't buy EC also. So if u wan to buy a property and if u can't buy resale hdb, then private is the only option for u. Buy private also got 2 choices - buy new or buy resale. It all depends on what what u want (purchase vs rental; new vs resale; have to wait for few yrs before can move in for new vs can move in soon for resale) and what you have (future income, cash, other assets, liabilities, risk appetite). Best to check with a banker first then a property agent before u plan ur next move.
As on comment on this development, as kelonguni said, it is cheap indeed. But the floor area is small also. Average psf is abt 1k, which is comparable to other ocr developments launched recently, not including the mixed and the integrated ones. Therefore, look cautiously before u leap, plan carefully before u buy. And to quote kelonguni - "...you have to be very clear what you are doing. Good luck!" And from me - ALL THE BEST!!!
I am PR and wife n kid in long term pass and I m 34 yrs old. as you said can't buy hdb n EC. looking for possibilities . Thanks for your feedback. How about location? it's good in future if i rent .tthank
I am PR and wife n kid in long term pass and I m 34 yrs old. as you said can't buy hdb n EC. looking for possibilities . Thanks for your feedback. How about location? it's good in future if i rent .tthank
Can buy resale hdb? Location is near to LRT station. Location good or bad best if u can bring ur wife n kid down to the actual site and assess it for urselves personally. Different people have different preferences different tastes different wishes. Good in future if u rent? Rent a unit there or rent ur unit out? Good for former cos there will be a lot of supply in the same area for u to choose and price competition there will mean a good price for u to rent a unit there. Challenging for latter cos there will be a lot of supply in the same area there to compete with u and hence price competition there will mean a challenging price for u to rent out ur unit there.
Can buy resale hdb? Location is near to LRT station. Location good or bad best if u can bring ur wife n kid down to the actual site and assess it for urselves personally. Different people have different preferences different tastes different wishes. Good in future if u rent? Rent a unit there or rent ur unit out? Good for former cos there will be a lot of supply in the same area for u to choose and price competition there will mean a good price for u to rent a unit there. Challenging for latter cos there will be a lot of supply in the same area there to compete with u and hence price competition there will mean a challenging price for u to rent out ur unit there.
Cant buy resale HDB, My wife must be a PR and Complete 3 yrs of PR .
Good to rent out in future? In case i may move to other country ,Not sure How long i will stay in Singapore.
I will go to actual location and have a look.
Thanks
Hi
can you provide the pictures of the site and is the price negotiable ?
Hi
can you provide the pictures of the site and is the price negotiable ?
SStill price not announced. Must wait till July. You can Google for floor plan n roughly how much is the price
Probably average will be less than $1k PSF. But of course, like all condos, the smaller the unit the higher the PSF pricing.
So expect the Studio and 1 bedders to be above $1k PSF. The studios will likely start from high $3xxK, so maybe like $39xK. Only a few of those.
Not a fantastically good location, but not the worst either, especially considering the price. No MRT, but at least next to LRT station. And got Seletar Mall within walking distance. The units with unblocked views facing Jalan Kayu could be nice, if you don't mind the West sun.
Lol! Rare breed! An honest and truthful agent. Bravo! :D
Can someone help with the brochure or floor plan. I'm looking at studio. Thanks
can't get loan for below 200k. :gun2: Want to consider also very difficult
can't get loan for below 200k. :gun2: Want to consider also very difficult
Do you have many properties or luxury cars under loans?
usually bank min loan size is 300k for BUC
usually bank min loan size is 300k for BUC
I see. Try to loan more first, when all disbursed then clear all?
I see. Try to loan more first, when all disbursed then clear all?
think i am not clear enough. This will be my 2nd housing loan, hence i am only able to get up to 50%. Based on the guide price of below 400k for studio, i doubt any bank will able able to provide me with any loan as the min loan size for BUC is at least 200k thereabout.
supermanz88
03-06-15, 20:15
I thought this forum can't do anymore advertisement? Why there are still people advertising like this thread?
proud owner
03-06-15, 20:46
I thought this forum can't do anymore advertisement? Why there are still people advertising like this thread?
what advertisements are you referring to ?
i dont see any adverts .....
think i am not clear enough. This will be my 2nd housing loan, hence i am only able to get up to 50%. Based on the guide price of below 400k for studio, i doubt any bank will able able to provide me with any loan as the min loan size for BUC is at least 200k thereabout.
A happy problem to have.
Can still aim for the 400 or 500k units if can't loan for the lowest.
The CMs are creating very individualised situations for everyone. Everyone has a different tax and loan situation and structure. Interesting indeed.
For those aiming for rental, it is very competitive here. A stone throw away 4br hdb flat beside Seletar Mall is about 2.2k to 2.5k monthly. The resale property and rental price in Sengkang has dropped very badly due to overly supply units here. It is not easy now to have a reasonable recursive income.
For those aiming for rental, it is very competitive here. A stone throw away 4br hdb flat beside Seletar Mall is about 2.2k to 2.5k monthly. The resale property and rental price in Sengkang has dropped very badly due to overly supply units here. It is not easy now to have a reasonable recursive income.
4rm or 4BR?
The price commensurates with the competition here. Strangely, Sengkang has persisted in being the most searched HDB area although the condo market is not so.
One possibility is the HDB offers a clean and modern place to live in at the lowest price entry point, but for the condos, those who can afford it might also consider HDB prices almost islandwide as well as smaller units in better locations?
I guess the private buyers in this area appears more to aim for own stay purposes than for renting?
think i am not clear enough. This will be my 2nd housing loan, hence i am only able to get up to 50%. Based on the guide price of below 400k for studio, i doubt any bank will able able to provide me with any loan as the min loan size for BUC is at least 200k thereabout.
Think the developer will probably tie up with some bank to offer loans of this quantum, probably the interest rate just higher. Prob need to visit the showflat to ask. They can't expect to have that many pple with few hundred k plonk everything down in this project bah.
For those aiming for rental, it is very competitive here. A stone throw away 4br hdb flat beside Seletar Mall is about 2.2k to 2.5k monthly. The resale property and rental price in Sengkang has dropped very badly due to overly supply units here. It is not easy now to have a reasonable recursive income.
This area one of those where prices have taken a roller coaster ride. From ghost towns to popular area for certain FT /PRs to now somewhere in between. The area needs a boost apart from the hospital. Maybe a IHL would be good.
Which developers have most unsold units?
anyone can share the floor plan for studio?
All floor plans here. https://www.dropbox.com/sh/za8cosf3oktfoaa/AADKKYgBipep69iTqPnfSaNDa/Unit%20Floor%20Plans?dl=0
Basically the studios are like a hotel room.
Recently there is this trend of selling void spaces as if they exist. Have seen it in a few projects including this one.
But actually these void spaces are just higher ceilings that are very hard to be used.
I wonder if these void spaces are included in the total GFA allowed for the project.
Anyone feel the same way?
If they do not count the void spaces, it will only result in an inflated PSF price. In the end, the price of the unit will be the same.
High ceilings offers that unique feel and is only available at the top floor units. Many includes furniture decks as well.
I drove past High Park Residences and there's quite a crowd there.
Can't tell if more agents or more customers.
I drove past High Park Residences and there's quite a crowd there.
Can't tell if more agents or more customers.
I was there. Think should be 50 50. Just submitted my cheque for studio. Don't know if I should buy for investment and capital appreciation
Any comments about this project. Looks like not a very popular project
key selling point i find is the low quantum and psf ...but at the back of a declining general market... its hard to make it a very attractive buy when u can patiently wait for bargains at the near horizon i feel
If they do not count the void spaces, it will only result in an inflated PSF price. In the end, the price of the unit will be the same.
High ceilings offers that unique feel and is only available at the top floor units. Many includes furniture decks as well.
high ceilings are also there for the older freehold condos i feel or those old freehold apartments ...better locations out there as compared to this current project location no ?
Riverbank @ Fernvale (http://launchpropertysingapore.com.sg/condo/property/
[email protected]) might be another interesting project to look up too.
Below $1,000psf Average
North-South Orientation For All 4 Blocks
Functional, Flexible & Efficient layout: Movable Dining Table, Extendable Kitchen Worktop
Developed By UOL Group Limited - Winner of President’s Design Award 2013
Hi, anyone going for the balloting on Friday? What constitutes a good buy for an investment in terms of psf? Looking at 2rm/3rm. Thanks.
Any idea how many cheques were collected for this project?
homeworld76
16-07-15, 18:42
Any idea how many cheques were collected for this project?
Last I saw on some website was that over 3000 cheques collected but many are for the small units.
homeworld76
16-07-15, 19:01
Hi, anyone going for the balloting on Friday? What constitutes a good buy for an investment in terms of psf? Looking at 2rm/3rm. Thanks.
Hi, I am going for balloting tomorrow too but the news as of now isn't pretty. As of today, there's a developer "associates" preview booking currently going on where only those whom are invited are allowed to book ahead of tomorrow's so-called VVIP preview launch. I just got this news from my agent that the 2Br deluxe (2D5 floor plan) at Blk 31, 8th floor is selling for $640K (@ $1011 psf). Looks pricey to me and this might burst my budget of 650K as I'm too looking at 2Br deluxe (2D3 floor plan) for staying.
A Good buy for an investment requires some diligence in doing your homework as I take it that you intend to rent out. Be wary of a lack of tenants due to over-supply in the Sengkang region i.e. projects such as Riverbanks, Rivertrees, H2O Residences. Remember, tenants can afford to be picky as the tagline for the other projects also quoted their close proximity to the nearby amenities such as Seletar Mall. On top of that, if you're buying it as an investment, you should do your sums wisely to sustain at least 6 months without rental income and yet still able to pay off the mortgage. Today's news just announced that Janet Yellen of Fed Reserve will be increasing the interest rate which some people estimate the increments to be 2 quarter-point increase. So factoring that in which assuming SIBOR increases from the current 0.82 to 1.32, will the mortgage loan still be serviceable if assuming under duress whereby there are no tenants for 6 months?
How possible is to have no tenants for 6 months? It's all about pricing
Hi, I am going for balloting tomorrow too but the news as of now isn't pretty. As of today, there's a developer "associates" preview booking currently going on where only those whom are invited are allowed to book ahead of tomorrow's so-called VVIP preview launch. I just got this news from my agent that the 2Br deluxe (2D5 floor plan) at Blk 31, 8th floor is selling for $640K (@ $1011 psf). Looks pricey to me and this might burst my budget of 650K as I'm too looking at 2Br deluxe (2D3 floor plan) for staying.
A Good buy for an investment requires some diligence in doing your homework as I take it that you intend to rent out. Be wary of a lack of tenants due to over-supply in the Sengkang region i.e. projects such as Riverbanks, Rivertrees, H2O Residences. Remember, tenants can afford to be picky as the tagline for the other projects also quoted their close proximity to the nearby amenities such as Seletar Mall. On top of that, if you're buying it as an investment, you should do your sums wisely to sustain at least 6 months without rental income and yet still able to pay off the mortgage. Today's news just announced that Janet Yellen of Fed Reserve will be increasing the interest rate which some people estimate the increments to be 2 quarter-point increase. So factoring that in which assuming SIBOR increases from the current 0.82 to 1.32, will the mortgage loan still be serviceable if assuming under duress whereby there are no tenants for 6 months?
Did u get a unit?
The prices for 2br with decent facing seems pricy. It's around $1000 Psf. its not exactly near to the aerospace hub. However, the agent mentioned about capital gain from the buy but there's hardly any historic data to support.
3br prices seemed reasonable but its off budget for me.
homeworld76
18-07-15, 08:30
How possible is to have no tenants for 6 months? It's all about pricing
That's why we call it worst-case scenario. Remember the last crisis took a year before it started tapering off. Our government had to dip into the reserves before the economy started recovery in late 2009.
Pricing will only get you this far. You need to see for yourself the rental market and the audience you're targeting. Eg. Condo market usually try to aim professionals, expats, foreign students. These are in limited supply mind you. If you've looked at the recent figures, it doesn't paint you a rosy picture at all and most condo rentals are bleeding. If the owners price their rentals too low, they hurt their own ability to repay the mortgage loans. Please bear in mind, Janet Yellen had announced just a few days ago, interest rates will creep up. This will affect your mortgage loans.
On the other hand, HDB rentals are still going strong. Based on what I'm seeing, the support base is there. Of course, the audience they attract could be your typical Malaysian chef from the nearby eateries in the shopping malls or even chap chye png chef in the kopi-tiams renting the HDB. So there you have it, rentals hardly drop at all if assuming the HDB location is decent. Don't believe go check out HDB website for the market rentals :
http://services2.hdb.gov.sg/webapp/BR12AWRentalEnquiry/BR12PSearch.faces
I'm speaking from experience after helping my Mom to rent out her HDB rooms which is not in a fantastic location but still decent.
homeworld76
18-07-15, 09:00
Did u get a unit?
The prices for 2br with decent facing seems pricy. It's around $1000 Psf. its not exactly near to the aerospace hub. However, the agent mentioned about capital gain from the buy but there's hardly any historic data to support.
3br prices seemed reasonable but its off budget for me.
I didn't manage to get. The queueing system is not very transparent and certain agents have all their ballot numbers of their clients called while mine can wait until the cow comes home and I don't get called. In the end, the units I wanted are sold. So I walked away after deliberating for some time in the thinking box. The agents were trying their best to convince me to buy the units which I don't want. Upgrading to a 3 bedder did cross my mind but I have to think of the interest rates later on that's gonna affect my monthly mortgage repayments , even though I have an IPA from the bank that is within the range of most 3 bedders.
The 2 Br lower floors are near to the average indicative pricing of 960 psf. Higher floors obviously isn't. Capital gain only works if the prices you bought are cheap at that point in time as compared to current pricing. Doesn't mean a person buy high can sell high. Gone are the days where people "flip" within one year in part due to SSD. Case-in-point, look at Kingsford waterbay. Had a person bought a 2Br at launch will now probably experience a drop in their value as the last done transaction is now lower.
Certain properties have more resale value than others. For instance, a 2 Br Rivertrees residences low floor commanded a high premium selling for about $922psf. Now their last done transaction is almost 40K cheaper, whereas a 3 Br apartment at the same development is still experiencing slight growth.
Even ECs like Ecopolitan is not spared. Their almost million dollar 3 Br Cospace has now diminished in value by almost $80K.
At the end of the day, the properties' value depends on many factors. On average, most properties should increase their value as time goes by. Ultimately, it depends on your holding power. Please use SRX X-value to determine the value. I usually look at the floor plan, site plan, key in the apartment numbers into SRX and see for yourself. Another noteworthy website is squarefoot research. This also shows generic data of the project.
so many other unsold condos...why u ppl die die must buy this one?
homeworld76
18-07-15, 12:02
so many other unsold condos...why u ppl die die must buy this one?
The answer is very simple. I buy something that is affordable and for staying instead for investment. Obviously, the 2 parameters I look for is vastly different from investment perspectives. Investment parameters such as Net Rental Yield and Cash-on-Return in my opinion is quite weak as far as HPR is concerned after you factored in the operational costs of renting out the condo and assuming if you've the tenants to rent from you.
As for other unsold condos, it's usually they've already achieved capital gains so I'm most unwilling to pay for such condos especially those sold during 2012 and recently TOPed. Of course, we can talk about Rivertrees also giving out $15K discounts for unsold units but these are for those big units that cost above $1Mil and is therefore not within my budget.
So what % sold after 2 full days of preview ?
homeworld76
18-07-15, 15:45
So what % sold after 2 full days of preview ?
Anything 2 Bedders and below should be sold out as of now. Go work-out the %.
Was hoping for leftovers for the 3pm public launch, but nothing left Liao, only big units.
http://i.imgur.com/5YXXaW0.jpg
http://i.imgur.com/5YXXaW0.jpg
Really impressive. Applause...
Can smell the winds changing as predicted.
Really impressive. Applause...
Can smell the winds changing as predicted.
Impressive. Most impressive.
The force is strong with this one.
I sense something…a presence I haven't felt since…
my aunt queued and brought a 2 bedders...8th floor
Impressive. Most impressive.
The force is strong with this one.
I sense something…a presence I haven't felt since…
It strongly signals the underlying willingness to buy.
The only curtailing factor is the ability to buy.
Even that and interest rate is no longer becoming an issue for the masses because of the TDSR buffer.
my aunt queued and brought a 2 bedders...8th floor
My friend queued and waited and waited from morning till night for her ballot number to be called and finally bought a 2+study... 17th floor. Not her first choice though. Initial choice is a 2 bedder.
Seems like everyone here will know someone who has bought a unit there... :)
my aunt brought it because she stays in fernvale and its just nearby. buying for own stay not for rental.
my aunt brought it because she stays in fernvale and its just nearby. buying for own stay not for rental.
Lol. Sama Sama for my friend too. But whether or not she's going to sell her punggol HDB or rent it out is another story already. :D
bargain hunter
19-07-15, 18:29
how many sold, or is it easier to count, how many left? after 3 days. :)
I wonder if punggol and sengkang area would face an oversupply of concrete walls.
If bought for own stay should be fine... worried for those who is buying for rental yield.
homeworld76
19-07-15, 21:18
If bought for own stay should be fine... worried for those who is buying for rental yield.
Precisely. I calculated the net rental yield. It's like less than 3% and that's optimistically speaking depending on what unit a person buys.
How to calculate rental yield etc? I would like to do the calculation should I attempt to get a 2nd one. Please share the calculation methodology. Thanks.
Fernvale feels like a mini Hong Kong with all the flats there over 20 floors. Seletar mall is always very crowded.
Fernvale feels like a mini Hong Kong with all the flats there over 20 floors. Seletar mall is always very crowded.
Very true. But HK property prices also unbelievably high.
They must build more centres to offload some of the hotspots there. Punggol also.
BT ' Nearly 1,100 of the 1,399 units (~78%) available were sold at an average price of S$970 per square foot in its first weekend of sales'!
I think it has crashed some 30% from Northpark and Botanique.
Hehe, congrats!
Crashed some 30%? U mean in terms of psf? Location is different mah. Not a like to like comparison mah.
Crashed some 30%? U mean in terms of psf? Location is different mah. Not a like to like comparison mah.
I am joking Mr Tan. But someone in this forum would read it this way, or any way that "proves" his point.
I am joking Mr Tan. But someone in this forum would read it this way, or any way that "proves" his point.
Phew. Scare die me for one sec. Sekaly ur joke becomes trigger and fuel for his point. :D
The High Park Residences condominium in Sengkang has received strong interest from buyers, with 1,100 units sold during its first sales weekend, reported The Straits Times.
This works out to 78 percent of the 1,390-unit project, said the developers in a statement.
Set for completion in 2020, the 99-year leasehold project is being developed by CEL Development and Unique Residence, which is a joint venture between Kim Seng Realty and Heeton Homes.
Situated next to Thanggam LRT station, High Park Residences is a short distance away from the Seletar Mall.
CEL Development’s executive director Chng Chee Beow revealed that the new project attracted a diverse range of buyers from across Singapore due to its wide selection of units, free lifestyle classes and 118 recreational facilities on offer.
Notably, buyers snapped up all of the project’s studio, shop, “one plus study” and bungalow units.
“We are indeed very encouraged by the overwhelming response,” shared Chng.
The showflat for High Park Residences at Fernvale Road is open daily from 11am to 7pm.
Look like I need to up my condos price liao.
It is Singaporeans dream of owning a private property. When cooling measures r removed u can feel the power!!!
It is Singaporeans dream of owning a private property. When cooling measures r removed u can feel the power!!!
Based on your comments I think the Govt will realise that CMs actually do not need to be removed.
Still need to be removed when interest rate hit 3%. Its all about interest rate.
The High Park Residences condominium in Sengkang has received strong interest from buyers, with 1,100 units sold during its first sales weekend, reported The Straits Times.
This works out to 78 percent of the 1,390-unit project, said the developers in a statement.
Set for completion in 2020, the 99-year leasehold project is being developed by CEL Development and Unique Residence, which is a joint venture between Kim Seng Realty and Heeton Homes.
Situated next to Thanggam LRT station, High Park Residences is a short distance away from the Seletar Mall.
CEL Development’s executive director Chng Chee Beow revealed that the new project attracted a diverse range of buyers from across Singapore due to its wide selection of units, free lifestyle classes and 118 recreational facilities on offer.
Notably, buyers snapped up all of the project’s studio, shop, “one plus study” and bungalow units.
“We are indeed very encouraged by the overwhelming response,” shared Chng.
The showflat for High Park Residences at Fernvale Road is open daily from 11am to 7pm.
Wow!!
New home sales in July will be a big jump.....
darkseed73
20-07-15, 16:25
My friend went ahead to buy a unit 2br despise me pouring cold water (that's how strong the force is)
I told her
1) 1399 units is a huge development and huge development never gives u the exclusive feel
2) Too gimmicky - cooking class? Yoga class? Violin class? FREE for all resident? Ermm that's provided you get a chance to book lar. 1399 units can translate to 2000-3000 ppl staying in the estate.
3) The pricing is not really EC....my friend paid almost $1200 psf
4) Fernvale area is full of condos....very diluted market
5) Interest rates concern - so if u loan 80% means u are living on the edge.....better off lower the standards
Well.....anybody here thinks I am talking crap?
Agree with u on your points except for point 5. I thought it is only the privileged that gets to loan 80%, all others get a lower %.
My friend went ahead to buy a unit 2br despise me pouring cold water (that's how strong the force is)
I told her
1) 1399 units is a huge development and huge development never gives u the exclusive feel
2) Too gimmicky - cooking class? Yoga class? Violin class? FREE for all resident? Ermm that's provided you get a chance to book lar. 1399 units can translate to 2000-3000 ppl staying in the estate.
3) The pricing is not really EC....my friend paid almost $1200 psf
4) Fernvale area is full of condos....very diluted market
5) Interest rates concern - so if u loan 80% means u are living on the edge.....better off lower the standards
Well.....anybody here thinks I am talking crap?
My friend went ahead to buy a unit 2br despise me pouring cold water (that's how strong the force is)
I told her
1) 1399 units is a huge development and huge development never gives u the exclusive feel
2) Too gimmicky - cooking class? Yoga class? Violin class? FREE for all resident? Ermm that's provided you get a chance to book lar. 1399 units can translate to 2000-3000 ppl staying in the estate.
3) The pricing is not really EC....my friend paid almost $1200 psf
4) Fernvale area is full of condos....very diluted market
5) Interest rates concern - so if u loan 80% means u are living on the edge.....better off lower the standards
Well.....anybody here thinks I am talking crap?
No lah. U r not talking crap lah. But as always, there is always a half full view and a half empty view in every situation.
1) yes, 1399 units is a huge development. That's because it's on 2 plots of land. Divide it by 2 and that's 700 units per plot, which is the usual number of units per development. Plus they have 2 tennis courts and multiple pools. The only con is that they have only one drive in drive out entrance exit point which may be jammed during morning evening peak hours.
2) "free" lifestyle classes - marketing gimmick. Yea. No choice. Competition is stiff. Anyway think lakelife is the first to come out with this. Others just follow suit. Luckily it's only for the first 2 years or till MSCT is formed whichever is earlier. Unlike some other developments which have a permanent marketing gimmick such as Westwood having a cycling hub and velodrome of which part of the monthly maintenance fee will go into maintaining it perpetually.
3) $1200psf? Wow. Ur friend must have bought a very small unit at a very high floor with a very nice view to pay such a high psf. I heard average is around $1000psf. Anyway she bought it with her eyes open and she die die wanna buy that unit so respect her choice lor.
4) agree fernvale full of condos. Diluted if objective is to rent it out. If for own stay and only sell it after years, think it's still a good/ok buy lah.
5) interest rate concern - yah. It's hitting everyone anyway. As long as she has done her sums and she knows what's she in for, congratulate her and give her your blessings lor.
Try not to stand in between a woman and her clothes, shoes, handbags and in this case, property. Unless she's ur mother or sister or wife or daughter or girlfriend or lover or mistress where u know u will be dragged down also in case anything goes south.
For those who queued more than 10 hrs on 17th and 18th just to get a unit at Highpark Residences, welcome to join our closed fb solely for owners only.
Https://www.facebook.com/groups/Highparkresidences/
homeworld76
21-07-15, 22:29
For those who queued more than 10 hrs on 17th and 18th just to get a unit at Highpark Residences, welcome to join our closed fb solely for owners only.
Https://www.facebook.com/groups/Highparkresidences/
Hi there,
I've sent a request to join aka Paladine. Please kindly accept. Tks.
Dark Knight
21-07-15, 23:38
Good buy. Folks who pour cold water do not know this area well. Those who dare put in their money here will reap good returns upon TOP. There was a time when people say that Kovan condo not worth $800psf 7 years ago to me and laugh at me. There was another group of people who says that Fernvale is a remote place with little amenities and not worth 900psf 4 years back. There was even one funny guy on this forum who mentioned that Sengkang West LRT goes only in 1 direction and waiting time for light train took very long hence horrible to invest in property here. Surely these are myopic views without foresight. Once again, I extend my congrats to those who purchased a unit at High Park. I said it and I say it again: Time will prove the view of detractors are simply short sighted ones.
Good buy. Folks who pour cold water do not know this area well. Those who dare put in their money here will reap good returns upon TOP. There was a time when people say that Kovan condo not worth $800psf 7 years ago to me and laugh at me. There was another group of people who says that Fernvale is a remote place with little amenities and not worth 900psf 4 years back. There was even one funny guy on this forum who mentioned that Sengkang West LRT goes only in 1 direction and waiting time for light train took very long hence horrible to invest in property here. Surely these are myopic views without foresight. Once again, I extend my congrats to those who purchased a unit at High Park. I said it and I say it again: Time will prove the view of detractors are simply short sighted ones.
As we speak, there is one lurking in this forum that is the master detractor.
Congrats guys!
proud owner
22-07-15, 00:57
care to share why this project is so hot ?
i heard those who couldnt get went over to Kingsford
No lah. U r not talking crap lah. But as always, there is always a half full view and a half empty view in every situation.
1) yes, 1399 units is a huge development. That's because it's on 2 plots of land. Divide it by 2 and that's 700 units per plot, which is the usual number of units per development. Plus they have 2 tennis courts and multiple pools. The only con is that they have only one drive in drive out entrance exit point which may be jammed during morning evening peak hours.
2) "free" lifestyle classes - marketing gimmick. Yea. No choice. Competition is stiff. Anyway think lakelife is the first to come out with this. Others just follow suit. Luckily it's only for the first 2 years or till MSCT is formed whichever is earlier. Unlike some other developments which have a permanent marketing gimmick such as Westwood having a cycling hub and velodrome of which part of the monthly maintenance fee will go into maintaining it perpetually.
3) $1200psf? Wow. Ur friend must have bought a very small unit at a very high floor with a very nice view to pay such a high psf. I heard average is around $1000psf. Anyway she bought it with her eyes open and she die die wanna buy that unit so respect her choice lor.
4) agree fernvale full of condos. Diluted if objective is to rent it out. If for own stay and only sell it after years, think it's still a good/ok buy lah.
5) interest rate concern - yah. It's hitting everyone anyway. As long as she has done her sums and she knows what's she in for, congratulate her and give her your blessings lor.
Try not to stand in between a woman and her clothes, shoes, handbags and in this case, property. Unless she's ur mother or sister or wife or daughter or girlfriend or lover or mistress where u know u will be dragged down also in case anything goes south. good for those who buy! They help the market to strengthen the market , they hear too many stories oversea investment and decide that Singapore is the best! cheers!
1100 units sold in a day is an obscene number...forget about removing property measures....hahaha
care to share why this project is so hot ?
i heard those who couldnt get went over to Kingsford
Kingsford? Kingsford waterbay? Why leh? They lower their prices? Or still at launch level? Got rivertrees riverbay. Why waterbay? Hhhmmm...
homeworld76
22-07-15, 09:50
Kingsford? Kingsford waterbay? Why leh? They lower their prices? Or still at launch level? Got rivertrees riverbay. Why waterbay? Hhhmmm...
Based on X-value. Even for a low-level 2 bedder, Kingsford waterbay has lost by about 50K on average based on last-done transactions. If anyone intending to buy Kingsford, should strike a hard bargain with the developer.
Based on X-value. Even for a low-level 2 bedder, Kingsford waterbay has lost by about 50K on average based on last-done transactions. If anyone intending to buy Kingsford, should strike a hard bargain with the developer.
Interesting. Never thought of using x-value as reference price for new transactions. Good idea. :)
Btw, it's riverbank, not riverbay in my earlier post. Paiseh. Typo. Too many river, water, bay, bank, park recently. Confused. :p
As we speak, there is one lurking in this forum that is the master detractor.
Congrats guys!
Lol. And I'm amazed at ur patience and perseverance in entertaining him. Dun know if u r toying with him or trying ur best to convert him. :D
1100 units sold in a day is an obscene number...forget about removing property measures....hahaha
Lol. Ya. MAS just said too early to lift property curbs. Though no specific development is mentioned, everyone is aware of the hype surrounding highpark and northpark. Even highline first launch was overwhelmingly taken up on preview day. And of course who can forget hillford sold out on launch day, even though it's 60 years lease. So removing CMs? Nah. Can count our blessings already that no new/additional CM coming our way. :D
homeworld76
22-07-15, 14:23
Lol. Ya. MAS just said too early to lift property curbs. Though no specific development is mentioned, everyone is aware of the hype surrounding highpark and northpark. Even highline first launch was overwhelmingly taken up on preview day. And of course who can forget hillford sold out on launch day, even though it's 60 years lease. So removing CMs? Nah. Can count our blessings already that no new/additional CM coming our way. :D
True true. With the current supply glut. Government is now tapering the GLS. More land parcels are now put under reserve list and usually it's a hit-and-run issue where the place you like might not have any land parcels that are put up for sale.
https://www.ura.gov.sg/uol/media-room/news/2015/jun/pr15-30.aspx
So personally, I feel that unless one can afford to wait for many years otherwise if the current finances can already afford a decent unit, should go in already considering that when age catches up, the loan tenure will be shorter and more difficult to get loan.
True true. With the current supply glut. Government is now tapering the GLS. More land parcels are now put under reserve list and usually it's a hit-and-run issue where the place you like might not have any land parcels that are put up for sale.
https://www.ura.gov.sg/uol/media-room/news/2015/jun/pr15-30.aspx
So personally, I feel that unless one can afford to wait for many years otherwise if the current finances can already afford a decent unit, should go in already considering that when age catches up, the loan tenure will be shorter and more difficult to get loan.
this reminds me many years back I think in 2008 when the government decided to cut on the CPF rate.Untill now it has not fully recovered back to the 20-20% level
Hi there,
I've sent a request to join aka Paladine. Please kindly accept. Tks.
So you managed to get a unit?
Buyers happy
Agents happy
Developers happier
Govt happiest
Removal of CM? haha
homeworld76
22-07-15, 20:39
So you managed to get a unit?
Yes but not the low level units I wanted initially.
propertyreview
22-07-15, 22:38
Yes but not the low level units I wanted initially.
Congrat though.. more than 1000 units has been sold within a week... lol
Simply amazing.. something not seen for awhile..
chrislovecindy
23-07-15, 00:38
congrats all the buyer here...I also want to get a unit here, but I already buy another pc recently..miss the chance
my friend also buy a unit in HPR..good price!!!
invigorated
23-07-15, 08:26
Good buy. Folks who pour cold water do not know this area well. Those who dare put in their money here will reap good returns upon TOP. There was a time when people say that Kovan condo not worth $800psf 7 years ago to me and laugh at me. There was another group of people who says that Fernvale is a remote place with little amenities and not worth 900psf 4 years back. There was even one funny guy on this forum who mentioned that Sengkang West LRT goes only in 1 direction and waiting time for light train took very long hence horrible to invest in property here. Surely these are myopic views without foresight. Once again, I extend my congrats to those who purchased a unit at High Park. I said it and I say it again: Time will prove the view of detractors are simply short sighted ones.
This is flawed logic. Just because correct guesses were made on two throws of dice doesn't increase the chance of a correct guess on a third throw.
Yes there's history and history has also taught us that there were some who bought at the wrong time. Go check the CCR thread for those who sold at losses. Not to mention some who bought in 1997 who have not broke even.
I'm not against this area but I'm against people who use this line of logic to support their ideas.
Dark Knight
23-07-15, 23:10
This is flawed logic. Just because correct guesses were made on two throws of dice doesn't increase the chance of a correct guess on a third throw.
Yes there's history and history has also taught us that there were some who bought at the wrong time. Go check the CCR thread for those who sold at losses. Not to mention some who bought in 1997 who have not broke even.
I'm not against this area but I'm against people who use this line of logic to support their ideas.
You missed the essence of the posting. You need to peruse again carefully. Property investing and purchase is all about reading into the future development of an area and not just history. Also, you do not seemed familiar with this area. Life is not about empty theories or beliefs....but having lived through the 1997, 2003 and 2008 cycles to derive practical perspective on investment and due diligence.
invigorated
24-07-15, 00:01
You missed the essence of the posting. You need to peruse again carefully. Property investing and purchase is all about reading into the future development of an area and not just history. Also, you do not seemed familiar with this area. Life is not about empty theories or beliefs....but having lived through the 1997, 2003 and 2008 cycles to derive practical perspective on investment and due diligence.
It's not tough to get your essence, that you see potential in the area and others who don't stay there don't.
You don't get my essence that your logic on basing past developments to determine future progress is flawed.. ironically you talk about property investing not about looking at the history and you quote all the past historical prices and data?
How do you know that I don't know about the area? You're being presumptuous here. People who have lived through 1997,2003 and 2008 can still make mistakes, as some have made then. Those who have not may not as they have learnt from mistakes made by others.
Unless you are telling me all those who have made money now must have gone through those eras? It's not a prerequisite in my opinion.
homeworld76
24-07-15, 09:45
I see two sides of an argument just like 2 sides of a coin. In any property cycle, there are always winners and losers. I know of people who were over-leveraged back in 1997 owning more than 3 properties only to lose it all when they defaulted on their payments. I have also read about people who have the holding power to withstand the turbulence of financial crisis and turn out as winners.
Regardless of the different viewpoints, it all depends on the risk appetite and whether one goes into buying a property for staying or purely for investment with the latter being less risk averse. To me personally, I buy a property for staying and not for investing. Of course, if the capital gains that come along the way many years later will be a bonus, if it doesn't, it's fine as I'm not into flipping the property. Ultimately, what matters is affordability and whether one has a backup plan if all else fails pursuant to the economic climate, the interest rates, etc.
By affordability, I mean to say the prevalent prices around the vicinity as opposed to future prices. This is common sense as nobody can predict the future given that Singapore is subjected to the global economic forces. Is the property much more expensive than those in the nearby area? I believe in comparing apple to apple so I don't do stuff like comparison between CCR vs OCR or vs RCR for that matter as the attributes of the properties are all different. These are the fundamentals to my thinking and I don't believe in paying exorbitant prices upfront in the hopes of capital gains "gold rush" along the way.
By backup plan, I mean if assuming the interest rates increase by 2 percent and mortgage loans are no longer sustainable, does one possess an exit strategy (like a fully-paid HDB flat that can yield rental) or will one be forced into defaulting?
I believe we all know location is key but what is one man's meat is another man's poison. I don't drive so a transportation node such as LRT/MRT is crucial to my well-being as I need to commute to my workplace. Take that away, and I feel the property is not worth buying. That's one of the key considerations when I look into HPR. Aside from that, amenities is another consideration. Supposedly if I want to eat out. Where do I go? Where's the nearest Kopitiam outlet ? Do I have to travel some distance to get there ?
As you all can see, perspectives differ vastly between individuals, home-makers like myself, and last but not least investors. Property cycles are always there, all it matters is whether at the point in time when you entered the market, is it sustainable and thereby affordable? If not, perhaps waiting is better but surely one has more considerations that this. What about age ? It affects loan tenure to a great extent especially for BUC properties. The older one gets, the less amount of $$$ one can loan which translates to coughing out more cash to make-up for it. Can one afford to wait until 50 years old and buy a property? Perhaps yes or maybe no. It depends on the person's cash on hand, his CPF less half of the minimum sum ($80,500) to be put aside and how long is the loan tenure. And even if one gets the loan, how does one service the loan? I know of people who are still searching for their "dream" property and they're almost 50 years of age. Time is running out for them.
For those who queued more than 10 hrs on 17th and 18th just to get a unit at Highpark Residences, welcome to join our closed fb solely for owners only.
Https://www.facebook.com/groups/Highparkresidences/
hi there, i've got a unit in HPR too! would you approve my request on this facebook page? profile name Jason Tang
http://highparkresidences.com.sg/floor-plans/
High Park Residences @ Fernvale Road D28 Buy Sell Rent - https://www.facebook.com/groups/2106121572780868/
Powered by vBulletin® Version 4.2.2 Copyright © 2024 vBulletin Solutions, Inc. All rights reserved.