Watertown : Punggol Waterfront Living

[testtest]

Owners of both, pop the champagne!!!

interesting that you would celebrate and ignore the high price....typical herd instinct - safety in numbers

[Ilikeu]

All trying to launch first in case cm6 gets announced.

What's everyone's guess on the measures in cm6? or we shouldn't even discuss here in case kbw got "eyes" in this forum?

My guess is capital gain tax.

[Hillier]

Ic, your discount is more simple than the FEO's one.
For your case, your caveat price lodge should be after the 8% discount.

But for my case when I buy WT, the price lodge in caveat is after 18% discount (10% + 5% +2% from HDB address +1%vincinity discount).
Which mean, after the 18% discount, the sales price for my unit is $600k
600K is the price that I will see in the caveat.

Then, there are further discount like 3% stamp duty Absorption and 2% furniture voucher etc. The net price I pay is ard 570K.
But 570K is not the caveat price. It is the net net purchase price.

When bank loan me 60%, they loan me based on after all the net net discount. (18% +3% SD absorption +2% FV).

This means that bank loan me based on 60% of 570K and not 60% of 600k. That is why alot of people got confused and thought bank will loan you more. So in simple context, more cash upfront.

Bro, I could see many people including myself who bought FEO project were told by the agents that bank will loan for the caveat price and we do not have to declare the discounts to the bank and subsequently caught off the guard with the bankers and lawyers that "not declaring the discounts" is a punishable offence which amounts to false declaration to the bank and the loan will get cancelled and MAS can take action. No one has a clear explanation of the consequences of declaring "NO discounts received" in bank's letter of offer. Just like to share my experience with my recent FEO Purchase.

[amk]

more supplies coming in Punggol:

http://www.hdb.gov.sg/fi10/fi10296p....0?OpenDocument

you guys really are in the heat....

[Ilikeu]

Bro, I could see many people including myself who bought FEO project were told by the agents that bank will loan for the caveat price and we do not have to declare the discounts to the bank and subsequently caught off the guard with the bankers and lawyers that "not declaring the discounts" is a punishable offence which amounts to false declaration to the bank and the loan will get cancelled and MAS can take action. No one has a clear explanation of the consequences of declaring "NO discounts received" in bank's letter of offer. Just like to share my experience with my recent FEO Purchase.

The agents are in the wrong to do so. If the discount is substantial, say all the discounts 20+% are now given on top and declaration not made, all the buyers will be able to get away with a higher LTV as a loophole from govt 40% LTV measure.

[Hillier]

Bro, I could see many people including myself who bought FEO project were told by the agents that bank will loan for the caveat price and we do not have to declare the discounts to the bank and subsequently caught off the guard with the bankers and lawyers that "not declaring the discounts" is a punishable offence which amounts to false declaration to the bank and the loan will get cancelled and MAS can take action. No one has a clear explanation of the consequences of declaring "NO discounts received" in bank's letter of offer. Just like to share my experience with my recent FEO Purchase.

FEO buyers, before signing OTP do your maths correct, all discounts offered from the caveat price should come from your pocket first before the bank loan or CPF can be disbursed. Do not get misled by some agents who can say discounts will hep your cash flow if you take up 60% loan. However i should also say if you have no issues with cash component, then net psf after all discounts is really attractive for the recently launched FEO projects which is a real puller.

[Ilikeu]

more supplies coming in Punggol:

http://www.hdb.gov.sg/fi10/fi10296p....0?OpenDocument

you guys really are in the heat....

Interesting to note that the 3 land parcels (including the existing bus interchange) around the MRT are reserved for "high rise development" and the one beside Watertown will get another "high rise commercial and residential development" - same as Watertown.

[hopeful]

Interesting to note that the 3 land parcels (including the existing bus interchange) around the MRT are reserved for "high rise development" and the one beside Watertown will get another "high rise commercial and residential development" - same as Watertown.

but no waterside living

[hopeful]

Bro, I could see many people including myself who bought FEO project were told by the agents that bank will loan for the caveat price and we do not have to declare the discounts to the bank and subsequently caught off the guard with the bankers and lawyers that "not declaring the discounts" is a punishable offence which amounts to false declaration to the bank and the loan will get cancelled and MAS can take action. No one has a clear explanation of the consequences of declaring "NO discounts received" in bank's letter of offer. Just like to share my experience with my recent FEO Purchase.

did you complain the agents to CEA?

[Hillier]

did you complain the agents to CEA?

Obviously the agents will push you to ink the deal asap and practically not enough time to get those statements verified. Especially in WT, day one of the launch was so chaotic and not enough time to choose your choice unit, even discounts needs to be negotiated, not sure how the agents will benefit from lowering the discounts offered. On the positive side, if they do not push you to take the unit in the shortest possible time, you will end up paying 50-100 psf higher on the next day or next tower released. So it's game on the day one and we should have the guts to play it decisively.!

[Ilikeu]

Obviously the agents will push you to ink the deal asap and practically not enough time to get those statements verified. Especially in WT, day one of the launch was so chaotic and not enough time to choose your choice unit, even discounts needs to be negotiated, not sure how the agents will benefit from lowering the discounts offered. On the positive side, if they do not push you to take the unit in the shortest possible time, you will end up paying 50-100 psf higher on the next day or next tower released. So it's game on the day one and we should have the guts to play it decisively.!

Can share the room type/size/psf u bought in WT on day 1?

[Hillier]

Can share the room type/size/psf u bought in WT on day 1?

I have got 2 bedder, mid-floor, LRT facing condo for 855k. Believe that other blogger Worsty got a better deal 875k for patio.

[Montaigne]

Agree with u!
But...a lot had listen to so call "expert" view that market will crash & sell their HDB,EC,CONDO & rent to stay past 2yrs,this group getting more nowadays.
And they are very worry now as their 20-40% property crash never happened...

Example -
2010 - average 700psf
2011 - average 900psf
2012 - even 30% crash will just go back to700psf,opportunity cost too high,
the crash may not happened or crash so much too...Don't ever sell u HOME & rent to hope property CRASH!

Now can la, downside risk is super high. My friend trying to sell nuovo and then rent first.
See who wins.

[Nman]

I want to get a unit there, potential place but psf super high, not worth it. prefer mature estate.

[Worsty]

I have got 2 bedder, mid-floor, LRT facing condo for 855k. Believe that other blogger Worsty got a better deal 875k for patio.

My unit's not from WT but i would think both our deals are not bad compared to the later buyers.

[ysyap]

Generally those who bought in 2008-2010 and even early 2011 should have witnessed price appreciation. Now its just seeing how much price correction, if any...

[phantom_opera]

hmm ... resale can get better deals?

CASA MERAH TANAH MERAH KECHIL AVENUE Apartment 1 1,118,000 1,249 Strata 895psf Feb-12

WATERFRONT KEY BEDOK RESERVOIR ROAD Condominium 1 1,100,000 1,216 Strata 904psf Feb-12

[Worsty]

hmm ... resale can get better deals?

CASA MERAH TANAH MERAH KECHIL AVENUE Apartment 1 1,118,000 1,249 Strata 895psf Feb-12

WATERFRONT KEY BEDOK RESERVOIR ROAD Condominium 1 1,100,000 1,216 Strata 904psf Feb-12

Resale is better if you have the budget for a higher quantum.

[amk]

Resale is better if you have the budget for a higher quantum.

in other words, those who do not buy resale lower psf but rather buy new higher psf is because they do not have the budget, i.e. cannot afford ?

btw how come no one says a thing seeing gov releases immediately 2 more plots in punggol ? shouldn't the stakeholders be concerned about the upcoming supply ?

[kane]

in other words, those who do not buy resale lower psf but rather buy new higher psf is because they do not have the budget, i.e. cannot afford ?

btw how come no one says a thing seeing gov releases immediately 2 more plots in punggol ? shouldn't the stakeholders be concerned about the upcoming supply ?

there is a lot more grassland on the road to the marina club that still hasn't been released yet.

[testtest]

there is a lot more grassland on the road to the marina club that still hasn't been released yet.

Other than the malls and waterway, there is nothing much there...except houses and more houses

[kane]

Other than the malls and waterway, there is nothing much there...except houses and more houses

well in all honesty, that's the case with most estates isn't it? That's why when I want something different, I have to go across the causeway or take a plane/boat to a nearby resort.

even the malls in Singapore (orchard road or suburban) have more or less the same shops...

[Worsty]

in other words, those who do not buy resale lower psf but rather buy new higher psf is because they do not have the budget, i.e. cannot afford ?

btw how come no one says a thing seeing gov releases immediately 2 more plots in punggol ? shouldn't the stakeholders be concerned about the upcoming supply ?

I cannot speak for all but i can only say from my own experiences. First, some background.

1)I'm years from becoming 35.
2)Not married
3)In the workforce for a few years only hence not much CPF and cash savings although i can manage the monthly mortgage.

That least me not being able to buy HDB either new or resale.

My budget's up to 1mil for a PC. If you look around for PCs that are 1000sqft and above and in D14/15/16 (areas i am interested in). I am somewhat limited in what is available unless i get very old units.

For new developments though, i can find units at 1k or more sq ft and less than a million in these districts.

If i can afford, i will definitely get a resale since it's cheaper psf-wise. This is on the standpoint of buying to stay. Buying smaller units for investments/rentals is another ball game altogether.

[fclim]

in other words, those who do not buy resale lower psf but rather buy new higher psf is because they do not have the budget, i.e. cannot afford ?

btw how come no one says a thing seeing gov releases immediately 2 more plots in punggol ? shouldn't the stakeholders be concerned about the upcoming supply ?

They are ECs some more and quite near to MRT. More to come, across the waterway. Even if stakeholders are concerned, they won't admit it. Dunno gahmen released more land to ease prices or riding on WT's momentum to get the best land prices.

Probably both. Smart...

[ikan bilis]

.....Buying smaller units for investments/rentals is another ball game altogether.

agree!!..

[amk]

Buying smaller units for investments/rentals is another ball game altogether.

but even buying for investment, it still doesn't change the fact that, there are cheaper (in psf terms) and better alternatives ? the key point is still, the quantum is beyond your reach right ? Had you gotten the additional x00k, would you still want to invest in something that will give u 0 yield for 4yrs, or something with immediate yield? Don't you feel FEO is capitalizing on this fact ?

[Molotov]

Other than the malls and waterway, there is nothing much there...except houses and more houses

U sound sour and STUPIG!
LOL.

[Xan]

Other than the malls and waterway, there is nothing much there...except houses and more houses

Why? U expect a casino or a grand canyon there?

[Xan]

but even buying for investment, it still doesn't change the fact that, there are cheaper (in psf terms) and better alternatives ? the key point is still, the quantum is beyond your reach right ? Had you gotten the additional x00k, would you still want to invest in something that will give u 0 yield for 4yrs, or something with immediate yield? Don't you feel FEO is capitalizing on this fact ?

I believe he knows what he is doing rather than need others to advise him what to do. The so called better alternatives usually turns out to be sub standard alternatives.

[pineapple]

in other words, those who do not buy resale lower psf but rather buy new higher psf is because they do not have the budget, i.e. cannot afford ?

btw how come no one says a thing seeing gov releases immediately 2 more plots in punggol ? shouldn't the stakeholders be concerned about the upcoming supply ?

Would be if WT are less than 50% sold and these 2 Plots are for PC dev beside mrt.