Can get a reasonable size bungalow with a personal pool on a freehold land.Originally Posted by august
Can get a reasonable size bungalow with a personal pool on a freehold land.Originally Posted by august
Well u cant compare to a high floor penthouse with seaview. The feeling is entirely different living near the clouds and facing the sea, and on a house on land.Originally Posted by DC33_2008
People nowadays are willing to pay a premium for penthouse unit with seaview, much higher than a normal sized condo unit in the same development.
Earlier on, some guys here mention that prices psf for penthouses should be lower than the average condo unit as penthouse has lots of wastage space like roof terrace, pool etc. But this is not the case especially for those with good sea facing units.
It may be worth it if it is like on the MBS terrace. 30 odd storey is no big deal. Had such experience and enjoyed it for a while and then back to normal. It is really glaring in the house. Even need sunglasses when looking outside.Originally Posted by Shawn
Originally Posted by DC33_2008
Yup its glaring to the eye also to see dozens of foreigners paying top million dollars to buy penthouse units near the east coast like those at Aalto, Amber Residences and Meyerise. Guess more will come with upcoming Far East projects near Marine Parade and Amber Road.
Haha you are funny.
Den y this 20mil penthse not snap up asap?Originally Posted by Shawn
Still unsold rite?
They just have a soft launch for Meyerise and 30% of units sold. I have no time to tell u whats the prices sold but I am sure u are aware of the high psf price achieved there. So, the penthouse will take a little more time to sell but I am confident it will be sold, just like the penthouses at Aalto.Originally Posted by devilplate
There are already enquiries for the penthouse but developer is holding and not selling until they can get the price they want to sell.
Not funny. See who has the last laugh. However, I am sure there are some naive people who might buy it during the coming F1 in Singapore. I am sure lots of agents have given them free F1 tickets and tour of properties here.Originally Posted by Shawn
NRI- i.e. expat Indians who look down on local Indians. Really full of them in Meyer and Tg Rhu.
Originally Posted by DaytonaSS
Wait till you see some of their children.Originally Posted by Wild Falcon
Hong Leong Holdings had sold 108 units as of yesterday at The Meyerise. It released a further 30 units for sale in the freehold condo over the weekend, taking total units released to 150 units in the 239-unit project. The Meyerise will comprise two- to four-bedroom units as well as penthouses housed in two blocks of 31 storeys. The project was previewed early this month.
Hong Leong has previously listed the project's unit prices as ranging from $1,400 psf to $2,540 psf. It is developing this project on a site of about 115,302 sq ft which it bought from Della Lee in 2007 for about $201 million.
the ah nei are really loving this project...., mayb it's kinda of a status thing if they tell others that they are staying at Meyer vicinity...?Originally Posted by bargain hunter
Y u say ah nei love this project?Originally Posted by land118
When i was at the showflat, i nvr spot any indian buyers at all.....all chinese....spotted some hongkie and prc
so all the snobbish "high class" FT?
Originally Posted by devilplate
PRC also like East Coast. But really a lot of Ah nehs in Meyer and Tg Rhu area. Yesterday drove past Tg Rhu, saw lots of Indian families milling around.
Originally Posted by devilplate
What is the price now? Read the thread on few pages earlier there was a price list. Is there an update on the price list again?
I am only earning 4kSGD basic and currently owns a condo in hillview. Can I chiong another one with my wife combine salary of 7kSGD+?
Can bank loan to us?
You will need to have at least $750k cash/cpf for 40% and stamp duty.Originally Posted by yowetan
The rest of the 60% will be bank loan. but based of your combined income and supposing outstanding loan from your hillview condo, taking a $1.1m (based on the cheapest unit of $1.7m) might not be possible. I might be wrong though. You can just call a banker and ask her to assess your loan limit.
if your hillview condo is fully paid up then u can loan 80% but based on a combined salary of 7k, bank may not be willing to lend to u unless u pledge your fully paid hillview condo (risky to do so in my view).
Originally Posted by yowetan
Thanks for the input; unfortunately the hillview condo is not fully paid for and I loan it 80% with 35 year lease.
I will like to take a gamble and buy myerise, or possibly place in mount sinai.
Now, which area is a better bet? Mount Sinai or myer road?
Have lah, the really white ones, got to look closely. i saw a few when i go on first day.Originally Posted by devilplate
why mount sinai?Originally Posted by yowetan
it's an acquired taste there
Based on combined income of $7k , u could be over stretching based on 2nd property average $2.5m and above on both location u mention.Originally Posted by yowetan
When interest reach 3.5% and above in the future, u could be super stretched unless u have additional side income.
but if we ignore all that detail, just on which is a better bet.... personally i feel Mount Sinai have better value, avg 1500 PSF @ the Trizon. However the quantum ard $3m is a killer. MeyeRise quantum is also easily more than that for sea vew units.
Mount sinai is centralise in my point of view, and near to many good schools...it somehow motivates my intent to get it as the place is also a freehold exquisit place.Originally Posted by Lovelle
With a pv of $1.1m, nper of 420 and rate of 2%pa, your pmt is $3640.Originally Posted by yowetan
That is more than 50% of your combined income. Very very risky.
If I were you, I would look for a smaller unit with lower loan quantum so that I would not be so stretched on my finances.
i think between the 2, there is more demand (hence also more expensive) at meyer road isn't it?
and given your current scenario, you have to put 40% down for your 2nd ppty, so u really gotta do your sums.
Originally Posted by yowetan
Hi all,
Yes, I admit the 40% is a top order for me at the current moment. I have vast interest in Mount Sinai area as it is nearer to schools and eateries and of coz the biopolis and many other exciting emerging developments.
I am also budgeting myself to 1.8mil project and hopefully I can get bank loan approval....
I aint sure if it will be a good bet in these years as I reckon there might be a recession near future...
Haha u are such a joker. A lot of buyers at Meyerise are rich families. They are either business people or people who just got rich from enbloc sales. As such, the issue of loan interest has never been a major issue for them. Some paid cash for the unit and they traditionally own houses in the east coast.Originally Posted by DaytonaSS
As such, the east coast with seaviews hold so much sentimental values to these people. U wont understand cause u need to take a loan to buy a house. As such, dont ever consider buying these prime areas. You should just focus on the outskirts.
I think you going to miss the boat. The East Coast particularly the Meyer/Amber stretch is slated to be the next prime area after Orchard Road. There are lots of upcoming projects coming up here.Originally Posted by DC33_2008
Dont forget that Malaysia-Singapore own land near the Marina East and there are plans to build up this area into either commercial or residential. Also, in 2016 Singapore will open its land to other casino licenses, meaning the big empty parcel of land near Marina East which is facing the open sea will most likely be targeted.
Also, Eastern Regional Line mrt will start construction next year. And it will pass both Meyer and Amber area from Changi Airport direct to Marina Bay.
In addition, the whole east coast stretch will be further redeveloped with new chalets, new resort and food outlet facilities to meet ever expanding demand.
And the Marina Coastal expressway will be in operation soon in 2012.
Katong Mall will be relaunched with the new shopping mall look in 2012. So as Katong Shopping Centre which is now going to be enbloc for future commercial use. Parkway Parade located nearby is probably the most popular shopping mall in the suburban area in Singapore.
Even the F1 grand prix is located much closer to the East side near to Tanjong Rhu flyover.
So arent all this good news ??? Who will benefit from these?? It is undeniable that the East Coast is the best place to live in Singapore.
Dr Della Suantio Lee, the wife of Mr Lee Seng Gee, the eldest son of late philanthropist Lee Kong Chian, was said to have sold a 115,300 sq ft piece of property in Meyer Road to the Hong Leong Group for about $200 million last year.Originally Posted by bargain hunter
----------------------
Della Suantio Lee of Lee Foundation is said to be selling her properties at Meyer Road and plans to move to new homes at Sentosa Cove.
Dr Lee, wife of Lee Seng Gee and brother of the former minister mentor Lee Kuan Yew, the eldest son of the late China-born philanthropist Lee Kong Chian, is believed to have signed a conditional agreement to sell the couple’s freehold Meyer Road properties, on which stand the lush bungalow they live in. The properties add up to slightly more than 210,000 sq ft of land.
The buyer is said to be a member of the Hong Leong Group.
The price is believed to be about $350-360 million, which works out to about $710-730 psf per plot ratio including an estimated $74 million development charge that Hong Leong will have to pay to the state.
The unit price is about 20 per cent higher than the previous record in the area - set in early 2000 when Viewpoint Condo was sold to Keppel Land for $598 psf ppr including DC. A couple of months before that, in November 1999, DBS Land bought First Mansion and Meyer Tower nearby for about $580 psf ppr.
The Meyer Road sites being sold by the Lees are zoned for residential use with a 2.8 plot ratio - the ratio of potential maximum gross floor area to land area - and a 36-storey height limit. The land can be redeveloped into a condo of about 330 units averaging 1,800 sq ft.
Assuming Hong Leong pays about $710-730 psf ppr for the site, its breakeven cost for a new luxury condo there could be about $1,200 psf.
The Lees have lived in their Meyer Road bungalow for many years but are expected to move to their new bungalows being built at Sentosa Cove. Dr Lee bought two bungalow sites at Sentosa Cove - one fronting the sea and another behind it, but separated by a road, facing the waterway.
When Dr Lee bought the seafront plot back in late 2003 - under the maiden tender of land parcels in the upscale housing district - she paid the highest unit land price for a bungalow plot of $456 psf during the tender.
On hindsight, that was a wise buy - prices of 99-year leasehold seafront bungalow plots at Sentosa Cove have now crossed $1,300 psf.
Savills, which is understood to have some involvement in the Meyer Rd deal, declined to comment when contacted.
Hong Leong Group is no stranger to the Meyer Road area. It developed The Atria at Meyer and The Makena during the 1990s property bull run.
More recently, in September 2005, it bought Eastern Mansion further up Meyer Road, closer to Amber Road, and an adjoining site at a combined unit land price of about $410 psf ppr, according to an earlier report.
Source : Business Times - 2 Feb 2007
Last edited by ecimbew; 19-09-11 at 22:54.
Yee ha! Did I tickle your funny bone?
The people who buy penthouses are not any Ah Seng or Ah Moy u found on the street. They are not naive. They have their own bankers and advisers. And they know what they are buying.Originally Posted by DC33_2008
Money is not everything for this people. They can buy a diamond studded watch for $3 million without blinking an eye. So what is $20 million for a 5382 sq.ft freehold penthouse on the 30th floor at a prime district in Singapore ????
U are extremely ignorant. Singapore is no longer like the 1970s Singapore. Lots of new money coming in.
Haha Dr Lee is also one of the buyers of the 4 bedroom unit high floor at Meyerise. All the agents marketing Meyerise know of this. As they said, when you used to stay in the East, no other place matters.Originally Posted by ecimbew