Bricks & Mortar
Does anyone know there is a cap on the upper limit or max. Psf that EC can be launched and sold at since there is a cap on household mthly income to $10k per mth for applicant?Originally Posted by phantom_opera
EC land price close to 400psf
http://www.hdb.gov.sg/fi10/fi10296p....2?OpenDocument
It is quite far from Tampines MRT
Junior
Will be sellin at 800+ psf..... Rewind a few years back... Ho bee bid for sentosa berth condo atthisnprice lolx...
Senior
Sim Lian is so gung ho, want to build a $900psf EC in Tampines.
Senior
Perhaps that limit needs to be reviewed and raised.
Exalted
interest still low....so can borrow more...
was told 3k salary can get 400k loan...quite relax isnt it
so 10k can borrow 1.2mil loan.....1st timer can take 80% loan....so can buy up to 1.5mil ppty!!!
Junior
just got infor from property agent. Viewing activities is heating up in CCR region but buyer holding back hoping to get lower price. Seller is holding up strongly for their target price. Activites are definately looking up in March n April.Dow failed to clear 12,400 and falling back to test the 50dMA ... low interest rate is safe for now ... CCR sentiment will remain soft
http://chart.finance.yahoo.com/z?s=%...n-US®ion=US
Senior
3k salary draw 400k loan? So CPF +1k cash per month to service the loan??
Exalted
low int rate now....400k loan....mthly installment ard 1.3k only....so prolly CPF+$300....correct calculation rite? hehe
Junior
3k salary probably cpf contribution to OA ard $550-650.
Cash no need 1K. estimate $600-700+ cpf
Bricks & Mortar
$900psf EC, think would be record price..in terms of psf
Senior
Ok so after CPF $2.4k, car $800, house $700, kid $500 lunch $400. Just nice no savings...
Junior
wad about the petrol,carpark,cashcard, and maintainance fee etc.??
no savings plus just nice to pay mortgages at 1%.
if spike up, history repeat.
huat to some smarties hiding in this forum
Exalted
no nid car lor....
if husband+wife=6k mah....take 800k loan....buy up to 1mil ppty...
6k salary can buy 1mil ppty....LOL
Senior
I assume $800 includes all that. But yes, the point is only the current low interest environment can they afford this.
Bricks & Mortar
Like that very tight, no$ to give parents, no $ to set aside for misc like wedding, birthdays, meal with kakis, eating out, monies for maintenance and repairs..., need to wait for 13mth and bonus..., quite miserable, like work and enjoy condo onlyno nid car lor....
if husband+wife=6k mah....take 800k loan....buy up to 1mil ppty...
6k salary can buy 1mil ppty....LOL
Exalted
yeah...buy HDB 500k better....hehe
but den still better den those who rent a HDB...4rm flat cost 2k....
come to tink abt it....MM single tenants of 2-2.5k rental...at least aso getting a package of 7-8k....no wonder CCR 1bedder 4k....abit tough to rent out....nid to find expats earning >12k
Junior
Petrol smelly smelly $400 min. plus ppl these days want drive new car,installment alone can set back $600-$800.. If conti cars, half the pay throw into the car payment lolx.. Car maintenance lei.?
unless car is fully paid,still got some chance to play with the above figures
Senior
The commodity with one of the highest depreciation is car. Can't afford then better don't play so much. Made a calculation, if take cab always, it'll still be more expensive than driving a car. So no choice but to take MRT and bus or walk (healthy living). But if can afford, then go ahead and buy.
Now new car is at super high price... no pt buying new car either. Guai guai wait for next announcement on COE quantum. Mean time buy 4 year old car will do...
Junior
Agreed.
The commodity with one of the highest depreciation is car. Can't afford then better don't play so much. Made a calculation, if take cab always, it'll still be more expensive than driving a car. So no choice but to take MRT and bus or walk (healthy living). But if can afford, then go ahead and buy.
Now new car is at super high price... no pt buying new car either. Guai guai wait for next announcement on COE quantum. Mean time buy 4 year old car will do...
In anticipation of car running costs remaining high, it is prudent to purchase property for own stay near main road or MRT station so that kids can come and go by themselves. No need to be their chauffeur and no need to buy them car. Let them buy their own driving lessons/car when they start working. Do your bit for the environment.
Newbie
For me, my place is like 1km away from the MRT. So I walk sometimes to MRT which is actually good. Morning/evening time it is not hot and I actually enjoy the walk sometimes.
The commodity with one of the highest depreciation is car. Can't afford then better don't play so much. Made a calculation, if take cab always, it'll still be more expensive than driving a car. So no choice but to take MRT and bus or walk (healthy living). But if can afford, then go ahead and buy.
Now new car is at super high price... no pt buying new car either. Guai guai wait for next announcement on COE quantum. Mean time buy 4 year old car will do...
Music of the night
While private condo is flat ... 5r HDB heating up and COV is up up up again
Next measure target HDB again?
Ride at your own risk !!!
Newbie
I don't want to start a new thread cuz of this. Tried to look at caveats lodged in streetsine a few times, but seems like the info is no longer available under transacted data => sale? for free at least? or is it just me?
Senior
Its not been available for some time le...
Senior
Where did you get the figures that HDB heating up and COV up up again? Thought just announced COV is down down although agreed that prices of HDB is up up....While private condo is flat ... 5r HDB heating up and COV is up up up again
Next measure target HDB again?
Newbie
Yea i haven't been keeping up for awhile. Thanks anyway.
Senior
A NEW record price has been set for executive condominium (EC) housing land.
A state tender yesterday for an EC plot at Tampines Central 7, about 800 metres from Tampines MRT Station, drew just four bids; but the highest, from Sim Lian Land, was $278.8 million or $392.45 per square foot of potential gross floor area.
This bust the recent record of $320.86 per square foot per plot ratio (psf ppr) set just last month for EC land by a City Developments and TID partnership for a plot at Choa Chu Kang Drive.
Sim Lian's bid at yesterday's tender for the Tampines plot was also a whopping 14.7 per cent higher than the next highest offer of $342.05 psf ppr by Quingdao Construction (Singapore).
'This is one of the best-located EC sites ever to be released,' said Diana Kuik, executive director of Sim Lian Group, pointing to the site's proximity to Tampines MRT Station and the proposed Tampines Town Hub, a one-stop lifestyle destination that will include a mega community club (CC), performing arts theatre, retail shops, food and beverage outlets, a library and a bowling alley.
Sim Lian is planning to develop a 14- to 15-storey EC project on the site with about 660 apartments (comprising two- to four-bedders) slated for launch in the first quarter 2012. The majority of units are likely to be three-bedders, with typical sizes of 1,100-1,200 sq ft, Ms Kuik said.
Analysts note that the developer is no newbie to the location; it is behind two design, build and sell scheme (DBSS) public housing flat projects just a stone's throw away from the EC plot tendered yesterday. In addition, the group is involved in the construction business, giving it a firm handle on construction costs and confidence to bid aggressively for yesterday's EC site, suggest some analysts.
ECs are a hybrid of public and private housing with initial buyer eligibility and resale restrictions - all of which are lifted 10 years after the project's completion.
The other two bids at yesterday's tender came from a tie-up between Frasers Centrepoint and Keong Hong Construction ($330.79 psf ppr); and Soilbuild Group Holdings ($279.98 psf ppr).
Market watchers estimate Sim Lian's breakeven cost could be in the $650-700 psf range and that it would have assumed an average selling price of at least $750 psf - or close to the price at which Esparina Residences, an EC project near Buangkok MRT Station, which was released around October last year.
Colliers International director of research and advisory Chia Siew Chuin said that given the uptrend in EC land prices, which would translate to higher launch prices for new EC projects under buoyant market conditions, 'it may perhaps be timely for the government to review the EC scheme, which is intended to provide affordable housing to buyers in the sandwich class'.
She suggests mechanisms could be introduced for guide prices for both land bids as well as selling prices for the resulting EC projects - although she acknowledged difficulties in implementing such a system.
BT in a commentary last month suggested the government may wish to consider bringing back the old system of directly allocating some EC sites - at prices set by the state - to the likes of NTUC Choice Homes Co-operative with accompanying guide launch prices for the projects to be built on them.
Choice Homes has a mission of developing quality housing at affordable prices to help more Singaporeans own private property. The co-op has been absent at state tenders in recent months, including those for EC sites.
Exalted
at current int rate of 1.5%, 3k income can get max 400k loan(provided no other debt/loan)
den wat if int rate goes up to 3%.....3k income can get how much? any banker here?
Junior
using affordability ratio 30%, 35 year tenure as constraints.
3k income cannot get 400k loan. can only get 300k loan. monthly payment is $900 approx.
if interest up to 3%. 3k income can get $235k loan approximate. monthly payment is $900 approx.
not banker here.
Newbie
have...i have friends family combined income is 8K+ buy 1.3mil ppty!no nid car lor....
if husband+wife=6k mah....take 800k loan....buy up to 1mil ppty...
6k salary can buy 1mil ppty....LOL
Junior
gamblers. and asking for trouble. Our family income is n times as much, and we buy only OCR property at $500+ psf.have...i have friends family combined income is 8K+ buy 1.3mil ppty!
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