Watertown : Punggol Waterfront Living

[Jonathan0503]

Hi Jonathan, sorry if my post offended u. Just my general frustration with forummers who say there are props in good location where price is good, but never say which development to back it up. It's like edmw forum NPNT

No problem. I got over it already

[graveyard]

and in the CBD.

projects near CDB more ex leh. Thg those are safe bets, nowadays many offices and businesses shifting to outskirts like harborfront, paya lebar, changi, esp the backend operations which has no dealings with customers because rent is much cheaper. As technology keeps advancing with video conferencing, online transactions, increasingly online based work activities, the shift of offices to cheaper more "rural" location is a real option. So there may be good rent demand outside CDB

[teddybear]

Backend operations, even for financial institutions, pay very much much less than their front-end employees. So you can expect that their rent paying capability will be low as well.

projects near CDB more ex leh. Thg those are safe bets, nowadays many offices and businesses shifting to outskirts like harborfront, paya lebar, changi, esp the backend operations which has no dealings with customers because rent is much cheaper. As technology keeps advancing with video conferencing, online transactions, increasingly online based work activities, the shift of offices to cheaper more "rural" location is a real option. So there may be good rent demand outside CDB

[hopeful]

projects near CDB more ex leh. Thg those are safe bets, nowadays many offices and businesses shifting to outskirts like harborfront, paya lebar, changi, esp the backend operations which has no dealings with customers because rent is much cheaper. As technology keeps advancing with video conferencing, online transactions, increasingly online based work activities, the shift of offices to cheaper more "rural" location is a real option. So there may be good rent demand outside CDB

backoffice operations not sure whether they shift out to "rural" Singapore or shift out of Singapore.

[graveyard]

Backend operations, even for financial institutions, pay very much much less than their front-end employees. So you can expect that their rent paying capability will be low as well.

Hm i did thought of tht as i was writing. but its not covering just the admin and bank ops. there are many well paid professionals too in backend doing technical stuff ..like engineers, financial analysts, ops manager, project managers. morever, the rent paying capability will be matched by lower rent compared to rent in CDB

[graveyard]

backoffice operations not sure whether they shift out to "rural" Singapore or shift out of Singapore.

that depends on how well the SG gov is doing to attract FDI. cost structure in SG is known to be high but govt could give subsidies, tax rebates etc. at the moment, SG still has something to offer like superios infrastructure. Evergreen the logistics giant moved to tanjung pelepas port in msia because it tot its gonna save heaps of rent ..then realized the port has substandard facilities and infrastucture that increases its operating expenses .. in the end has to move back to sg

[DC33_2008]

A lot of call centres of banks already move out of singapore. Traders, economist, HR, Investment banking, etc are the ones remain in the CBD. These are the ones who can pay top rental.

Hm i did thought of tht as i was writing. but its not covering just the admin and bank ops. there are many well paid professionals too in backend doing technical stuff ..like engineers, financial analysts, ops manager, project managers. morever, the rent paying capability will be matched by lower rent compared to rent in CDB

[hyenergix]

and in the CBD.

CBD is beyond my range so I never study it in detail. I'm more comfortable in the suburbs. Most of the subsidised housing are in the suburbs i.e. citizens and PRs who qualify to buy are virtually given $200-400k worth of subsidies compared to market value. The free cash and higher rental yield allow them to transit to pte condos easier. Moreover more $ is being pumped by the government into those regions for development. The % of psf increase is higher over there.

[solsys]

Director who works in a MNC located in CBD versus a Director who works for a MNC in suburban pay can be quite wide I think.

Manufacturing companies pay lose out to CBD ones.

I once joined the largest FMCG company in the world briefly but remuneration never quite match the other industry I came from.

Which is why I think rental will pick up for North and North East for Seletar Aerospace Hub but not the super high end, expensive sort.

Suburban is best played in the mass segment of the mass market segment where rental is key in this interesting times.

[graveyard]

A lot of call centres of banks already move out of singapore. Traders, economist, HR, Investment banking, etc are the ones remain in the CBD. These are the ones who can pay top rental.

for every foreign investment banker, there are prob at least 10 foreign middle exec, professionals. those in suburb need not settle for top rental like 3-4K, just afford a decent 5% onwards rent yield. there are quite a nbr of foreigners in my office - of course the directors stay in CDB as most are on expat and coy paying for housing. but most are pinoys, indians. Quite a nbr who must be earning >6K are staying in hdb in groups. Not all who have earning power desire lifestyle CDB living. a few i know rather send $ money back to build house, as u would imagine. the strong SGD and their very decent pay would allow them to build decent houses back in hometown

[gfoo]

wow this thread is now 220 pages long... has anybody stopped to think why?
it's simply because the 'record' pricing of WT is so polarizing, that it sets off debate. The sentiments and opposing views here almost exactly mirror those in 98/99, and at that point for PC the hot 'record' areas was hillview, and for HDB it was punggol with the PG21 story. property for own stay is a function of affordability, as own-stay properties are an expense. but property for investment should be examined like every other investment - you buy low, and sell high.

would you invest a record price of over 50% premium in a penny stock company, in an unproven sub-sector, facing almost unlimited competition and new companies springing up every other week, against a backdrop of global economic uncertainty, where the government has warned against, and where the larger sector is already facing a slowdown? just because the penny stock company held an excellent roadshow, made queues of people lining up, pricing it up 70% above par and giving a 20% 'discount'?

it is one thing rationalizing one's purchase. it's a totally different thing when people sit on the fence and are swayed by PMs. Let them read the debates and make their own decisions. people's savings are on the line here.

do not forget the lessons of the past. investments should be rational, and not swept up by emotion or 'michael jackson concert' showflats with lots of lights and smoke.

every person i talk to - middle class, upper middle, hnwi - all uses wt as a benchmark of the craziness of the mass market property prices. it's used as the butt of jokes now. let's hope that they are wrong.

[minority]

Well said. But given all the debat. Only time will tell. There will be winners n there will be losers a matter of fact of investing.

[ysyap]

Now that WT is near 100% sold, which project will take over as the next talking point for setting high psf?

[bargain hunter]

ST

Feb 19, 2012

The sky's the limit for this investor

Boss of interior design firm plans to continue overseas expansion and build up his property portfolio

By Joyce Teo

Mr Sky Tan Keang Leng, 35, invested $100,000 to start his own interior design business Sky Creation here in 2008.

Today, it has an office in Shanghai and is moving its office in Johor Baru to Kuala Lumpur soon. There are plans to enter other regional markets such as Thailand and Hong Kong.

'If my business doesn't grow, I won't attract

talent,' Mr Tan says. 'I want to see how far I can go.'

But his expansion is carefully planned, he says.

'I have to think of rainy days. Everyone will go through life with ups and downs, so we have to be prepared for it.'

Now that his business is on track for growth, Mr Tan can look at building up his property portfolio. He is also studying for a professional postgraduate diploma in marketing. His wife Angel Ong, 33, helps out with his company's accounts. The couple have two children, aged one and four.

Q: Are you a spender or a saver?

I save more than half of my monthly pay. I spend mostly on food, comic books and foot reflexology.

I collect comics. I have at least 1,000 of them in my collection. In recent months, I have been spending a few hundred dollars a month to build up my collection.

Q: How much do you charge to your credit cards every month?

I charge about $2,000 plus every month. These are for my personal expenses and I pay up every month.

Q: What financial planning have you done for yourself?

I have insurance coverage of around $1 million and I invest in properties and my business. I try to make more money while I can so that I can give my family more security. I don't want them to have to suffer.

Q: Moneywise, what were your growing-up years like?

I grew up with my parents and an elder brother. My dad was a warehouse supervisor and my mum was a housewife. We were poor so I understood the importance of money and planning for the future.

I have not taken a single cent from my family ever since my dad was retrenched from his job during my national service days. That and his subsequent death taught me that I need to work hard and have good financial planning for my loved ones in case of unforeseen circumstances. My family is what keeps me going.

Q: How did you get interested in investing?

My childhood friend Keegan Chan, who is a financial consultant, got me interested in investing. My first investment was an investment and savings plan that I bought from him 10 years back.

Q: What property do you own?

I have a fully paid-up five-room flat in Hougang, which I bought for $330,000 in 1999.

I also own a 1,367 sq ft four-room condominium unit in The Luxurie in Sengkang. I bought it for $1.44 million last year. It will be ready in a few years' time.

Last month, I bought a 527 sq ft suite in the newly launched Watertown in Punggol for $660,000, or just more than $1,200 per sq ft. I will rent it out when it is built. I believe it is a good buy because it is integrated with Punggol MRT station and is near many shops.

I will continue to grow my property portfolio yearly but I want to buy only something within my means. I am therefore thinking of buying a property in Johor Baru next.

Q: What's the most extravagant thing you have bought?

My car, an Audi A7. I bought it for around $280,000 last year. I have no regrets as it was all along my dream car. Previously, I drove an Audi A6.

Q: What's your retirement plan?

I am a workaholic. I enjoy my work and never think of retiring. I want to be financially independent before the age of 40.

I will reach my goal with my property investments and my business. Although I have no intention of retiring, it is my wish to travel around the world with my wife when we are older.

Q: Home is now....

My five-room HDB flat in Hougang.

Q: I drive....

A white Audi A7.

---------------------------------------------

WORST AND BEST BETS

Q: What's your worst investment to date?

I invested around $30,000 to open a bag shop in Queensway Shopping Centre in 2008 with a partner. I had previously done retail sales.

But we closed the shop after several months when we went into the red and I made a loss of $2,000.

Q: What is your best investment to date?

I bought a three-bedroom condo unit in Thomson area for nearly $900,000 at the end of 2008 and sold it for about $1.3 million a year later.

Sky Tan also bought a 527sqft suite for $660k, $1200psf at Watertown. So does that make him a carrot? This guy made lots of money from property before.

[propertychap]

Anyone has idea wat is the current sales figures?

[gfoo]

Now that WT is near 100% sold, which project will take over as the next talking point for setting high psf?

looking at the way things are, probably kranji

[ysyap]

looking at the way things are, probably kranji

Interesting... Parc Rosewood gaining ready acceptance too...

[fclim]

ST

Feb 19, 2012

The sky's the limit for this investor

Boss of interior design firm plans to continue overseas expansion and build up his property portfolio

By Joyce Teo

Mr Sky Tan Keang Leng, 35, invested $100,000 to start his own interior design business Sky Creation here in 2008.

Today, it has an office in Shanghai and is moving its office in Johor Baru to Kuala Lumpur soon. There are plans to enter other regional markets such as Thailand and Hong Kong.

'If my business doesn't grow, I won't attract

talent,' Mr Tan says. 'I want to see how far I can go.'

But his expansion is carefully planned, he says.

'I have to think of rainy days. Everyone will go through life with ups and downs, so we have to be prepared for it.'

Now that his business is on track for growth, Mr Tan can look at building up his property portfolio. He is also studying for a professional postgraduate diploma in marketing. His wife Angel Ong, 33, helps out with his company's accounts. The couple have two children, aged one and four.

Q: Are you a spender or a saver?

I save more than half of my monthly pay. I spend mostly on food, comic books and foot reflexology.

I collect comics. I have at least 1,000 of them in my collection. In recent months, I have been spending a few hundred dollars a month to build up my collection.

Q: How much do you charge to your credit cards every month?

I charge about $2,000 plus every month. These are for my personal expenses and I pay up every month.

Q: What financial planning have you done for yourself?

I have insurance coverage of around $1 million and I invest in properties and my business. I try to make more money while I can so that I can give my family more security. I don't want them to have to suffer.

Q: Moneywise, what were your growing-up years like?

I grew up with my parents and an elder brother. My dad was a warehouse supervisor and my mum was a housewife. We were poor so I understood the importance of money and planning for the future.

I have not taken a single cent from my family ever since my dad was retrenched from his job during my national service days. That and his subsequent death taught me that I need to work hard and have good financial planning for my loved ones in case of unforeseen circumstances. My family is what keeps me going.

Q: How did you get interested in investing?

My childhood friend Keegan Chan, who is a financial consultant, got me interested in investing. My first investment was an investment and savings plan that I bought from him 10 years back.

Q: What property do you own?

I have a fully paid-up five-room flat in Hougang, which I bought for $330,000 in 1999.

I also own a 1,367 sq ft four-room condominium unit in The Luxurie in Sengkang. I bought it for $1.44 million last year. It will be ready in a few years' time.

Last month, I bought a 527 sq ft suite in the newly launched Watertown in Punggol for $660,000, or just more than $1,200 per sq ft. I will rent it out when it is built. I believe it is a good buy because it is integrated with Punggol MRT station and is near many shops.

I will continue to grow my property portfolio yearly but I want to buy only something within my means. I am therefore thinking of buying a property in Johor Baru next.

Q: What's the most extravagant thing you have bought?

My car, an Audi A7. I bought it for around $280,000 last year. I have no regrets as it was all along my dream car. Previously, I drove an Audi A6.

Q: What's your retirement plan?

I am a workaholic. I enjoy my work and never think of retiring. I want to be financially independent before the age of 40.

I will reach my goal with my property investments and my business. Although I have no intention of retiring, it is my wish to travel around the world with my wife when we are older.

Q: Home is now....

My five-room HDB flat in Hougang.

Q: I drive....

A white Audi A7.

---------------------------------------------

WORST AND BEST BETS

Q: What's your worst investment to date?

I invested around $30,000 to open a bag shop in Queensway Shopping Centre in 2008 with a partner. I had previously done retail sales.

But we closed the shop after several months when we went into the red and I made a loss of $2,000.

Q: What is your best investment to date?

I bought a three-bedroom condo unit in Thomson area for nearly $900,000 at the end of 2008 and sold it for about $1.3 million a year later.

I dun see what's so special about this guy? I am sure many forummers own much better properties than him, but not in the news. $400K profit considered best investment. Not impressive leh. Many people aso make that amount wat.

[ysyap]

I dun see what's so special about this guy? I am sure many forummers own much better properties than him, but not in the news.

Many others who own more properties are not in this forum too.... its just a random interview lah...

[fclim]

Many others who own more properties are not in this forum too.... its just a random interview lah...

Not impressive leh. Best investment $400K. Many HDB and pte owners oso make that amount wat.

[ysyap]

Not impressive leh. Best investment $400K. Many HDB and pte owners oso make that amount wat.

It is impressive to the majority of Singaporeans who don't invest in properties mah... to a community of investors, that amount looked mediocre but to one who barely earns $2k/mth without investment, its alot... ...

[mantrix]

i think he bought meadows @ peirce...

[Ilikeu]

I dun see what's so special about this guy? I am sure many forummers own much better properties than him, but not in the news. $400K profit considered best investment. Not impressive leh. Many people aso make that amount wat.

I agree but not bad for a guy who is only 35. He has a fully paid HDB (or PC?) and vested into another two PCs.

[Ilikeu]

ST

Q: What property do you own?

I have a fully paid-up five-room flat in Hougang, which I bought for $330,000 in 1999.

I also own a 1,367 sq ft four-room condominium unit in The Luxurie in Sengkang. I bought it for $1.44 million last year. It will be ready in a few years' time.

Last month, I bought a 527 sq ft suite in the newly launched Watertown in Punggol for $660,000, or just more than $1,200 per sq ft. I will rent it out when it is built. I believe it is a good buy because it is integrated with Punggol MRT station and is near many shops.

I will continue to grow my property portfolio yearly but I want to buy only something within my means. I am therefore thinking of buying a property in Johor Baru next.

Does it cost so much like $330k for a Hougang 5 room back in 1999, was it a HDB or PC? Sorry, I was still in school. I bot my new HDB 5 room in 2003 in AMK at $330k too...

[fclim]

It is impressive to the majority of Singaporeans who don't invest in properties mah... to a community of investors, that amount looked mediocre but to one who barely earns $2k/mth without investment, its alot... ...

So what's the moral of the story? That WT and Luxurie are good buys, since this guy sees the potential? Or property investment is THE way to grow your wealth? Quick quick, buy up all the new launches.

[chanel]

HDB prices have escalated almost like PC prices. Yesterday saw a notice near Hougang Mall posted by some agents, selling several HDB units & a unit in Block 833 Hougang Central asking for $750K, didnt indicate size but assume old HDB are quite sizeable above 1,500sf. Thought this price for District 19 is rather high until I discovered from propertyguru website, same block 833 of other units approx. 1,650sf asking $900K - quite taken aback by HDB prices with no condo facilities but good location, near to MRT, bus interchange & mall. Supposed some people are looking for bigger units, they dont mind to pay as new units are so small like shoeboxes. Probably sellers asking skyhigh prices to test waters, sometimes ppl will bite like the Bedok case.

[mantrix]

Does it cost so much like $330k for a Hougang 5 room back in 1999, was it a HDB or PC? Sorry, I was still in school. I bot my new HDB 5 room in 2003 in AMK at $330k too...

i suspect his HDB is a 5rm A...one of the older 5rms with more than 1500 sq ft...now should easily be worth 500K (especially if he has the lift upgrading)

[Ilikeu]

If one day the govt moves the red light away from Geylang, those recent FH launches at $1100-1200 will certainly shoots up! Will that happen?

[ysyap]

This guy is v daring... in 1999, he's probably only 22 years old. To buy a flat, I assume its HDB. Therefore he must be married or share name with parent or something... hmmm.. $330k back then in Hougang is a little expensive...

[ysyap]

If one day the govt moves the red light away from Geylang, those recent FH launches at $1100-1200 will certainly shoots up! Will that happen?

Govt will not move it away lah... too much at stake plus inconveniences...