Sky Habitat - Bishan

[new2mondrian]

Bishan Park Condo lease started around 1990 but Is it selling at $33 psf now?

Including ABSD and agent fees, the folks buying today need to sell this cabriolet at $2kpsf to break even. Haha. I am sure going by the number of bulls here, the buyers will have no problem selling this at $3kpsf 10 years later given the inflation.

[new2mondrian]

At least you still got a roof over your head.
Please don't be sad.

From Desiderata:

If you compare yourself with others, you may become vain or bitter; for always there will be greater and lesser persons than yourself. Enjoy your achievements as well as your plans. Keep interested in your own career, however humble; it is a real possession in the changing fortunes of time.

Buttercarp, I love the phrases from desiderata too. Have always found them inspiring and meaningful.

Yowetan, the boat will always be back, property and economy are cyclical. Just make sure you have sufficient dry powder when that happens. no need to be sad.

[Wild Falcon]

It depreciates at an exponential rate, i.e. initial years low depreciation then becomes exponential. U can go SLA website for the formula for lease topup. It tells you the value of leasehold as compared to an equivalent freehold. In the first year, the value of leasehold is 99% of equivalent freehold. On the 40th year (60 years left), its value will be 80% of equivalent freehold. This means if you or if u want to enbloc, you have to topup 20% of the current value to 99 years which would be astounding which will eat into your enbloc proceeds. This is not insignificant - imagine if one unit is worth $1 million, $200k will go into lease topup and u only get 0.8 million wheareas had it been freehold, u get the entire $1 million in proceeds. Then its downhill. That's why its important to enbloc early. Or else its gone case. A freehold value is assumed to be 100% forever and will never require lease topup.

Didn't know Bishan Park is that old. Better start enbloc soon or esle every year of delay means value goes down.

http://www.sla.gov.sg/doc/ser/leasehold%20table.pdf

Bishan Park Condo lease started around 1990 but Is it selling at $33 psf now?

[azeoprop]

40 years later, will this project share the same fate as pearl bank apartments?

http://www.pearlbankapartments.com/
http://www.pearlbankapartments.com/04.00archive.htm

[yowetan]

Buttercarp, I love the phrases from desiderata too. Have always found them inspiring and meaningful.

Yowetan, the boat will always be back, property and economy are cyclical. Just make sure you have sufficient dry powder when that happens. no need to be sad.

Thanks for the encouragement and the quote from desiderata.

[phantom_opera]

Not to discourage youwetan, I would expect more inflation more money printing, unless sg garmen want to hurt the developers and their own land sales income, it will be very hard for correction in next 3years, just look at china, they need to bankrupt the smaller developers to bring prices in suburbs down, prime hardly affected

In sg Coe price is normally inflation leading indicator so up up up

[kal]

roof top lap pool opens to all resident la

[speculator]

Thanks for the encouragement and the quote from desiderata.

Given your income level, I strongly encourage you to buy EC if affordability is not an issue especially since you're so eager to buy a property now.

the pricing of EC are at very very 'safe' support level

[ecimbew]

I suddenly realised that the tiles provided at SH are similar to d'Leedon.
FEO gives better value then.

[amk]

To wind30, u can see the HDB prices ard Bishan and around AMK, huge differences. Market is always correct
One thng MRT around AMK is above ground, near MRT actually means more noisy.
The anchor tenant in AMK HUB is Jean Yip What's the anchor tenant(s) in Junction 8 ? You can tell even the retail industry knows Bishan crowd is more affluent than AMK crowd.

... Ok enough OT. I'm waiting for tomorrow morning CAPL press release. I would guess something around 120-150 sold.

[cl0ver]

I never understood the "much better" comment.

From MRT perspective, the time difference is just 1 stop and change train which is about 10mins including the changing train?

One more thing about Bishan is that the MRT station is like SUPER CROWDED due to circle line. people taking NS line will know. It is TERRIBLE to enter the mrt at bishan as you get packed like sardines with "smelly" people, etc.

Better to get in the train in AMK station and move to a less crowded area.

Driving, I think AMK is slightly better because the entrance to CTE is better. From CTE it is very simple to enter braddel road too.

Frankly AMK and Bishan is so close I can't really see what is the difference in terms of convenience.

They have the same advantages (NS line) and problems (CTE jams)

bro, alot of difference. i lived in Bishan Park Condo for 5yrs and then moved to Sengkang. I can tell you during the days when i take MRT, TPY residents are the ones that cannot go in. Bishan still ok. Bishan has aircon stations while AMK is open air.
and who you calling ppl "smelly"? notherners? lol

as for driving, the entrance to AMK Ave 1 has 2 big lanes while AMK Ave 3 is only one that branches out to 2. Ave 5 even worse if u missed it.
Bishan is still centrally located with access to Braddel Rd and also Lornie / Thomson. AMK just lead you to a maze of HDBs.

if u ask me, Bishan has more green with Bishan Park and McRitchie closed by.
SH 3 bedder with open terrace is my pick but pricing is really high...
Happy to stay at Newton for its convenience.

[amk]

I suddenly realised that the tiles provided at SH are similar to d'Leedon.
FEO gives better value then.

Value is relative. FEO CMI location has marbles so they can mark up 10yrs forward. I would consider location well above the marble

[DaytonaSS]

I suddenly realised that the tiles provided at SH are similar to d'Leedon.
FEO gives better value then.

that will depend u value tiles or location then. some things are cheap relatively to the value of the property. Site in a location(town) is more impt factor FOR ME. No west sun, no highway beside and no religious temples/sites, industrial area for me. These are more important than tiles, which can be settled with little $$$

[ysyap]

I have missed the boat... I am sadden that I am incapable comparing to many fellow Singaporeans.

There are less Singaporeans who are more capable than you so don't always subject yourself to such critical perception! I missed the boat many times too for various reasons like when prices were good, I don't have sufficient ammunition and I was simply too slow to react... but I must constantly keep my spirits high.

The main cause of unhappiness is probably discontentment which stems from excessive comparisons... Keep your mind happy and healthy so that you will be alert to notice the next opportunity and strike decisively.

[lufu]

Stocks always gap up amd down, depending on data points and political talk. Nothing like 2005 where it is more driven by fundamentals.

Volatility in equities market is the order of the day with unprecedented government intervention. Using MSCI world as a proxy for world stocks, one would have gained nothing over the last decade. The rally from 2003 to 2007 had all been wiped off after Lehman crash and extreme volatility thereafter. The old school thought of buy and hold in stocks market no longer applies. One needs to trade actively in stocks maket to make it work.

Investing in property is a different ball game and should be strategised accordingly. What some people did was to treat investing in properties like trading equities and tend to make costly mistakes that way.

[ysyap]

Just left the place, actually not as crowded as I thought ...

But, looks like it's doing ok. One full stack of 3bd all sold, the corner one facing ITE , supposedly the best stack. Price about 1.9m with the top floor reaching almost 2m ! Another 2bd stack also doing quite well, just left a 14th floor or something.

1.9m for a 1215 3bd and there are many takers. Bishan ppl are rich. What rubbish report "punggol and pasir ris have the richest HDB households". Compared with Bishan pungol is chicken feet men !

Surprisingly the 1bd "investor" units are not moving THAT well. Still sells, but not like others immediately sold out. Psf for 1bd is very high. Easily 1800.

4bd got very few interest. A jump of quantum to 2.7m stops most OCR buyers' interest.

Overall I think Liew should sleep well. For buyers, own stay, if you can afford, I dun think there is anything wrong. Bishan location IS very very convenient, much better than TPY or AMK. For investment, hmmm, dun know...

For all you know those buyers hail from Punggol and Pasir Ris?

At that sort of price, what investment are you talking about? Resale value must be CCR price before any decent profits can be considered. Also, rental yields will not be good with so much more competition around...

[ulrich76]

Buttercarp, I love the phrases from desiderata too. Have always found them inspiring and meaningful.

Yowetan, the boat will always be back, property and economy are cyclical. Just make sure you have sufficient dry powder when that happens. no need to be sad.

Think it's impt to ask yourself wats important in life. My wife and I are earning good income but are contemplating for one of us to stop working to spend more time with our son. In the process, we may shift to a HDB flat and own only a 2nd hand Jap car. We just do not want to follow the common "wisdom" and regret later on

[DaytonaSS]

I have missed the boat... I am sadden that I am incapable comparing to many fellow Singaporeans.

bro yow, u where got miss the boat..... didnt u sell a condo and move to a HDB? like that also call miss the boat ah....

miss the boat is those poor soul whom cant get a HDB during MBT time(2-3 yrs) and income have overshot the HDB limit. Those really miss the boat.

Personallyi think u better get those negative thought out of your mind. The boat will always sail n come. next 40 years min will have 4 trips. u are better off worrying when the next boat comes, got bring balls and $$$$ to get on the boat or not.

Anyway i shared with u, there is a small boat by PAP , forced anchored for the sandwich class. Still got some meat, ard 15% cheaper. if can get on good lah, if cannot , then store bullets for the next one.

24k rental a year over 10 years is = 240k +100k(what you have now) is 340k. When the boats comes prepare to load. Any more u save in-between accelerates the process. Hope you see some light and induce some motivation for you. I can tell you for sure its not about how much you earn, its how much you save.

[cl0ver]

yowetan,

dont buy for the sake or buying....
this is not the latest ipad or galaxy tab that ppl must own...

for property, just buy one that you would call your home. no need to keep borrowing and buy something high priced for investment because you are not the one staying there.
i think many ppl borrow the bank and buy something that they would never enjoy which i find is ridiculous because they get caught in the glamour and marketing.
why pay 1.2m for a 2bedder LH when you can buy one FH in London and another in Australia.

[teddybear]

Actually there are numerous luxury boats, forced anchored and can't move up now because of all their CMs, don't know why, so cheap historically but still can't move and yet CMs keep targeting them, as though purposely want to keep them cheap, don't know for how long? But then again, these properties' total quantum are large compared to those OCR properties (but cheap in terms of $PSF), majority of the people (>90% Singaporeans) can't afford anyway, that is why many people wonder why the CMs keep targeting at them when it only benefits a very small group of buyers to keep them cheap!

bro yow, u where got miss the boat..... didnt u sell a condo and move to a HDB? like that also call miss the boat ah....

miss the boat is those poor soul whom cant get a HDB during MBT time(2-3 yrs) and income have overshot the HDB limit. Those really miss the boat.

Personallyi think u better get those negative thought out of your mind. The boat will always sail n come. next 40 years min will have 4 trips. u are better off worrying when the next boat comes, got bring balls and $$$$ to get on the boat or not.

Anyway i shared with u, there is a small boat by PAP , forced anchored for the sandwich class. Still got some meat, ard 15% cheaper. if can get on good lah, if cannot , then store bullets for the next one.

24k rental a year over 10 years is = 240k +100k(what you have now) is 340k. When the boats comes prepare to load. Any more u save in-between accelerates the process. Hope you see some light and induce some motivation for you. I can tell you for sure its not about how much you earn, its how much you save.

[august]

I never understood the "much better" comment.

From MRT perspective, the time difference is just 1 stop and change train which is about 10mins including the changing train?

One more thing about Bishan is that the MRT station is like SUPER CROWDED due to circle line. people taking NS line will know. It is TERRIBLE to enter the mrt at bishan as you get packed like sardines with "smelly" people, etc.

Better to get in the train in AMK station and move to a less crowded area.

Driving, I think AMK is slightly better because the entrance to CTE is better. From CTE it is very simple to enter braddel road too.

Frankly AMK and Bishan is so close I can't really see what is the difference in terms of convenience.

They have the same advantages (NS line) and problems (CTE jams)

general consensus is bishan is more affluent and more "class" than AMK.. hard truth.

[kane]

My pick is the 4 bed facing the pool. Quantum is 2.8m and up gross. Ouch.

[Lovelle]

Unbelievable....


SINGAPORE: CapitaLand said it has received strong interest for its suburban condominium project, Sky Habitat.

As of 6pm on Sunday, it sold 70 per cent of the 180 units launched for sale this weekend.

The developer said eight in 10 buyers are Singaporeans.

Eighty-one per cent of units sold were two- and three-bedroom units.

Said to be the most expensive suburban condominium here, the development in Bishan Central is going for S$1,642 psf for a four-bedroom unit to S$1,747 psf for a one-room unit.

A three-bedroom room apartment will cost about S$2 million.

[ysyap]

Unbelievable....


SINGAPORE: CapitaLand said it has received strong interest for its suburban condominium project, Sky Habitat.

As of 6pm on Sunday, it sold 70 per cent of the 180 units launched for sale this weekend.

The developer said eight in 10 buyers are Singaporeans.

Eighty-one per cent of units sold were two- and three-bedroom units.

Said to be the most expensive suburban condominium here, the development in Bishan Central is going for S$1,642 psf for a four-bedroom unit to S$1,747 psf for a one-room unit.

A three-bedroom room apartment will cost about S$2 million.

Start believing man... so are these buyers ultimate carrot heads or is there more room for price appreciation come the next big launch nearby again?

[azeoprop]

My pick is the 4 bed facing the pool. Quantum is 2.8m and up gross. Ouch.

This price can buy a 3434sqft single level penthouse in Minton.

THE MINTON HOUGANG STREET 11 Condominium 1 2,866,500 3,434 Strata 835 May-11

[amk]

Very believable what I always look CAPL very up one...
See marketing works. Talk up 1700 - 1800 psf, and actual price 15xx to 16xx, just nice, ppl grab.

At this range, it's a sweet spot.

[kane]

126? Do these buyers have money printers at home like the Fed.

[minority]

Start believing man... so are these buyers ultimate carrot heads or is there more room for price appreciation come the next big launch nearby again?

I guess carrots are in the eye of the beholder.

[kane]

Very believable what I always look CAPL very up one...
See marketing works. Talk up 1700 - 1800 psf, and actual price 15xx to 16xx, just nice, ppl grab.

At this range, it's a sweet spot.

yeah, what puzzles me is how they fumbled on d'leedon. Actually if bedok and punggol can do 1400psf, 1500psf is a possibility of bishan. Hoe suburban prices got there in the first place though is mind boggling.

[3C]

126? Do these buyers have money printers at home like the Fed.

No, they have "BALLS" that many dont have