Properties in Geylang Area: Potential?

[Fleur]

i noticed NV 1bedder selling 11xxpsf and 3bedder 7xxpsf during preview launch....any smart person will grab the bigger units rather den 1bedder....

however, in general....mm px disparity shdnt vary by so much.....and its vy dangerous to use the worse example to compare.....bcoz u hf the choice....always sniff out the best deals....

i din use waterfront isle as an example oredi....their 1bedder psf is almost similar to their 2bedder psf.....and our savvy investors in this forum bot the 1bedders

True about sniffing out the best deals. How about this? Bedok court near to existing mrt at 6xx psf compared to waterfront isle mm at almost 1100 psf near future mrt? Unfair comparison? Sure it is. I don't have any issues with psf differential as long as there are readily buyers.

[Regulators]

I think I overestimated liao I find geylang very tempting, not the vice there but the property prices, but I don't have the guys to dump my money there.

Friend, you had better do your homework properly. Many older geylang freehold projects are going for a song, approx at just $500psf to $600psf at best

[Fleur]

God can only help us this much after given us a brain to think, eyes to see and ears to listen.

That is rather unkind.

[irisng]

[quote=Fleur]

Ya lor, I'm prepared for the worst. sighhhh....

With so many properties coming out in the Geylang area and their prices are so much more attractive, I also doubt that I can fetch a good price now if I want to sell. Just hope that with the Paya Lebar Hub, some miracles might happen. Oh God, pls help!![/QUOTE

Aiyo, should not sound so desperate when buying properties. Stay positive, as properties is a long term investment. Although I myself would not buy even lorong geylang properties, some gurus have actually came out to say geylang is a developing area. Just think, when atrium was launched, the owners had problems getting bank loans, but not now with the recent launches.

Also, it is unfair to compare psf with 8 courtyards. The comparison was new mm and two bedder within the same development, whereas we are talking about new mm with old condo and even old apartments without facilities in geylang. I was looking at nv and the differential within the same development was about 400 psf. If you talk nv mm and old condo in pasir ris, it can be about 500 psf.

Few more years, I will reach my retirement age, I don't have much time and money to spare. We bought property is for our old age retirement plan. As money value is getting smaller and smaller, that's why we invest in property.

[devilplate]

True about sniffing out the best deals. How about this? Bedok court near to existing mrt at 6xx psf compared to waterfront isle mm at almost 1100 psf near future mrt? Unfair comparison? Sure it is. I don't have any issues with psf differential as long as there are readily buyers.

ur $$...can flip den gd for u lor.....no hard feelings

jus curious....u bot La Fleur? hmmm but u mentioned u wun touch Even lorong

[Regulators]

Congrats on nearing retirement, for me still distant horizon. What is most important is enjoy your life, wherever you live coz when it comes to a certain stage in life, time more previous than money liao[QUOTE=irisng]

Few more years, I will reach my retirement age, I don't have much time and money to spare. We bought property is for our old age retirement plan. As money value is getting smaller and smaller, that's why we invest in property.

[irisng]

ur $$...can flip den gd for u lor.....no hard feelings

jus curious....u bot La Fleur? hmmm but u mentioned u wun touch Even lorong

Is okay, sometimes it is good to say it out rather than keep it to yourself. I don't want to get any depression, hey hey.

[jwong71]

That is rather unkind.

Wait til reality bites, like the cycle in 1996-1997 etc..
That will be the most unkind.

Vices will stay on for good,becos it's centralished making easier for all corners of police stations and CID within their reach.

[Fleur]

ur $$...can flip den gd for u lor.....no hard feelings

jus curious....u bot La Fleur? hmmm but u mentioned u wun touch Even lorong

Haha, I like this kind of objective intellectual debate with you.

Nay, I had this nick long before la fleur exist. No offense to owners of la fleur but this is one of the silliest name for a condo, especially in geylang when the last thing would be to be associated with the sleaze.

[irisng]

God can only help us this much after given us a brain to think, eyes to see and ears to listen.

Sometimes, I found that your words are really too much. We are not GOD. Everybody makes mistakes, nobody is perfect, maybe you are the only exceptional one. To be more positive, whether this is a wrong move or not, wait until 5 yrs later or more for the Paya Lebar Hub to complete, then the answer will be out.

[irisng]

[quote=Regulators]Congrats on nearing retirement, for me still distant horizon. What is most important is enjoy your life, wherever you live coz when it comes to a certain stage in life, time more previous than money liao

I agree, that's why if I can make some money from this property, I will use the money to travel and wait for the time to come, haha.

[devilplate]

Sometimes, I found that your words are really too much. We are not GOD. Everybody makes mistakes, nobody is perfect, maybe you are the only exceptional one. To be more positive, whether this is a wrong move or not, wait until 5 yrs later or more for the Paya Lebar Hub to complete, then the answer will be out.

relax sis....

anyway, i believe there will be tenants willing to rent ur ppty....its only a matter of how much u can fetch....

FYI: many criticise Cosmo....a project just outside geylang....a MM of about 400sqft fetches 2.4-2.7k a mth

[jwong71]

Sometimes, I found that your words are really too much. We are not GOD. Everybody makes mistakes, nobody is perfect, maybe you are the only exceptional one. To be more positive, whether this is a wrong move or not, wait until 5 yrs later or more for the Paya Lebar Hub to complete, then the answer will be out.

Dont need to wait for the 5yrs or hub. Gd luck waiting for the hub when there are plenty of projects at kembangan, for the banks to loan at ease. I think is better to wait for the ALL banks willing to loan those old existing even lorongs geylang projects at 80% first.

I not god, do make mistakes but I don't screwed myself big time.

[devilplate]

[quote=irisng]

Congrats on nearing retirement, for me still distant horizon. What is most important is enjoy your life, wherever you live coz when it comes to a certain stage in life, time more previous than money liao

I agree, that's why if I can make some money from this property, I will use the money to travel and wait for the time to come, haha.

dun flip aso nvm lor....rent out for mabe 2k shd be ok for u rite? den keep it for ur son since its a FH ppty....can keep until it breakeven or finally make some profit

[irisng]

Wait til reality bites, like the cycle in 1996-1997 etc..
That will be the most unkind.

Vices will stay on for good,becos it's centralished making easier for all corners of police stations and CID within their reach.

Then it will be a free publicize for Geylang, hehe.

[devilplate]

Dont need to wait for the 5yrs or hub. Gd luck waiting for the hub when there are plenty of projects at kembangan, for the banks to loan at ease. I think is better to wait for the ALL banks willing to loan those old existing even lorongs geylang projects at 80% first.

I not god, do make mistakes but I don't screwed myself big time.

come to tink about it,....recently sold out project Centra Hts is a better bet den those even lorong MMs....

sims ave address.....jus like cosmo having guillemard address....makes a hell lotsa diff....can expect centra hts MM to fetch about 2.5k pm based on current market

[irisng]

[quote=devilplate]

dun flip aso nvm lor....rent out for mabe 2k shd be ok for u rite? den keep it for ur son since its a FH ppty....can keep until it breakeven or finally make some profit

Thanks, we have such planning too, to wait for breakeven or some small profit margin. Wise man think alike, haha.

[irisng]

come to tink about it,....recently sold out project Centra Hts is a better bet den those even lorong MMs....

sims ave address.....jus like cosmo having guillemard address....makes a hell lotsa diff....can expect centra hts MM to fetch about 2.5k pm based on current market

Good luck to Central Heights @ Sims.

[DC33_2008]

One should be more ambitious like "since retirement is still a distant horizon, achieve sufficient passive income from property and other investments to retire in say 2 years time". That should be your goal instead of achieving your company's goal for eg. going listing in two years, if are an employee. [QUOTE=irisng]

Thanks, we have such planning too, to wait for breakeven or some small profit margin. Wise man think alike, haha.

[irisng]

[quote=DC33_2008]One should be more ambitious like "since retirement is still a distant horizon, achieve sufficient passive income from property and other investments to retire in say 2 years time". That should be your goal instead of achieving your company's goal for eg. going listing in two years, if are an employee.

Sorry, I don't get what you mean.

[DC33_2008]

Set goals for you and your family and not for your company. For eg., you are earning $10000/mth and if your net rental income from fully paid-up properties (less tax and maintenance, etc) or mortgage properties (less maintenance fee, tax, interest from mortgage, etc) is $10,000 or more, you do not need your job and can relax to do some part-time job or help the less fortunate. Otherwise, if you help your company to make millions, you will only get a fraction of it. Worst still, you have to work harder to help them to make more subsequent years. When recession comes, hardworking ones may be axed becos they are not smart enough to curry favour the boss. I meant you have a choice when you have options. [QUOTE=irisng]

One should be more ambitious like "since retirement is still a distant horizon, achieve sufficient passive income from property and other investments to retire in say 2 years time". That should be your goal instead of achieving your company's goal for eg. going listing in two years, if are an employee.

Sorry, I don't get what you mean.

[Fleur]

http://hsrproperty.com/2009/11/16/pa...r-of-the-pack/

Read Patrick liew's comments on geylang in one of last para.

[devilplate]

http://hsrproperty.com/2009/11/16/pa...r-of-the-pack/

Read Patrick liew's comments on geylang in one of last para.

i am sure he is refering to those 6xxpsf geylang apts and not 12xxpsf MMs

triple confirmed!!! as the article is posted on nov 2009.....MM geylang havent born yet

[kaizhe]

aiya dun fight la, any nice showroom to visit to spend this boring saturday?

[irisng]

[quote=DC33_2008]Set goals for you and your family and not for your company. For eg., you are earning $10000/mth and if your net rental income from fully paid-up properties (less tax and maintenance, etc) or mortgage properties (less maintenance fee, tax, interest from mortgage, etc) is $10,000 or more, you do not need your job and can relax to do some part-time job or help the less fortunate. Otherwise, if you help your company to make millions, you will only get a fraction of it. Worst still, you have to work harder to help them to make more subsequent years. When recession comes, hardworking ones may be axed becos they are not smart enough to curry favour the boss. I meant you have a choice when you have options.

Yes, our initial plan is to buy a 2nd property so that after our retirement, we can collect the rent for our daily allowance or the rent can help to service our loan and we still have the 2nd property in hand. But one thing for sure, our net rental income from the fully paid properties won't be that much of $10k or more.

Now, I'm a bit lost, not sure whether did I enter at the right time and the right location. My plan and thinking seems to go a bit "hay-wire" now. The only thing I can do now is wait till TOP and see how is the market condition and decide from there.

[DC33_2008]

$10,000 is just an example. Not sure how much you will really need for the kind of lifestyle you want to have. It is never too late. One will have to plan for it. There is a saying that: Man is selfish. You can strategize like sell before TOP if price is right. Stay in condo and lease out EC if rental yield is better than condo rental yield. All of us started like you with one property.

[QUOTE=irisng]

Set goals for you and your family and not for your company. For eg., you are earning $10000/mth and if your net rental income from fully paid-up properties (less tax and maintenance, etc) or mortgage properties (less maintenance fee, tax, interest from mortgage, etc) is $10,000 or more, you do not need your job and can relax to do some part-time job or help the less fortunate. Otherwise, if you help your company to make millions, you will only get a fraction of it. Worst still, you have to work harder to help them to make more subsequent years. When recession comes, hardworking ones may be axed becos they are not smart enough to curry favour the boss. I meant you have a choice when you have options.

Yes, our initial plan is to buy a 2nd property so that after our retirement, we can collect the rent for our daily allowance or the rent can help to service our loan and we still have the 2nd property in hand. But one thing for sure, our net rental income from the fully paid properties won't be that much of $10k or more.

Now, I'm a bit lost, not sure whether did I enter at the right time and the right location. My plan and thinking seems to go a bit "hay-wire" now. The only thing I can do now is wait till TOP and see how is the market condition and decide from there.

[irisng]

[quote=DC33_2008]$10,000 is just an example. Not sure how much you will really need for the kind of lifestyle you want to have. It is never too late. One will have to plan for it. There is a saying that: Man is selfish. You can strategize like sell before TOP if price is right. Stay in condo and lease out EC if rental yield is better than condo rental yield. All of us started like you with one property.

Thank you so much but some said that Geylang is not a place for a family to stay, what do you think?

[DC33_2008]

It depends how far from epic centre. [QUOTE=irisng]

$10,000 is just an example. Not sure how much you will really need for the kind of lifestyle you want to have. It is never too late. One will have to plan for it. There is a saying that: Man is selfish. You can strategize like sell before TOP if price is right. Stay in condo and lease out EC if rental yield is better than condo rental yield. All of us started like you with one property.

Thank you so much but some said that Geylang is not a place for a family to stay, what do you think?

[irisng]

http://hsrproperty.com/2009/11/16/pa...r-of-the-pack/

Read Patrick liew's comments on geylang in one of last para.

Thanks for the link. Though the report is in 2009, at least the expert has seen the potential in Geylang.

[irisng]

[quote=DC33_2008]It depends how far from epic centre.

My property is in Lorong 28.