Gurmit Singh 1.77 mil Heron Bay

[Lovelle]

Heron Bay penthouse sold for record $1.774m

[Night]

Heron Bay penthouse sold for record $1.774m

I wonder how pple with income under 12k is to clear such high loans? High downpayments?

[phantom_opera]

some ppl are finding ways to park their money to hedge inflation, they think that the higher the quantum for EC, the more subsidy they get from the garmen

however, they forgot about two things:

1. your money is tied down for 3y construction + 5y MOP ... for private it is only 4y SSD ... 8y is a long time ... a recession can come in between and suay suay when MOP is over, market hits bottom

2. location location location

Why not dual key ...

[leftfield]

Title says Gurmit Singh? He bough the place? I remembered he bought a Lamborghini as well, no way he qualifies for an EC.

[leesg123]

Great! we all tax payers subsidising his new purchase & lifestyle! Dont play play!

[Lovelle]

sorry, it's not gurmit who bot the unit but he marketed it in the advertisement

[leftfield]

sorry, it's not gurmit who bot the unit but he marketed it in the advertisement

That's not Gurmit, that's Phua Chu Kang.

[mantrix]

so it's Upper Serangoon where the most expensive EC resides now, no longer Yishun.

[price]

I wonder how pple with income under 12k is to clear such high loans? High downpayments?

@ $1.774m, 30 years loan 2% interest rate monthly repayment when completed is around $5.2k per month.

Question is where is the $400k cash coming from? (20% DP + SD of almost $50k)

[buttercarp]

Heron Bay penthouse sold for record $1.774m

The selling price is not an auspicious number .........
The buyer should ask for $1.768m or something like that.

[Night]

@ $1.774m, 30 years loan 2% interest rate monthly repayment when completed is around $5.2k per month.

Question is where is the $400k cash coming from? (20% DP + SD of almost $50k)

Oh my, 5.2k is like 43% of 12k. Almost half of income goes to repaying the house loan.

[fclim]

The selling price is not an auspicious number .........
The buyer should ask for $1.768m or something like that.

Nah... developer will say, $1.778m better. Take it or leave it...

[DKSG]

Nah... developer will say, $1.778m better. Take it or leave it...

Butter is indeed a shrewd investor ! Haha~!

But I agree with Ah Lim. Developer should market it as $1.888 mil. And throw in some freebies to lower the net price.

Then win win lor! Nice price, same quantum!

For those who keep wondering where did the downpayment come from, dont forget there is a bunch of poor old folks who are ka-cha out of the market recently due to the CM, so what they do ? they quickly park money with their children and urge them to cheong the Heron Bay!

There are PLENTY of liquidity out there in the market!
Dont believe just go to ANY showflats, sit around for a short while, you will realise that 300-500K is NEVER an issue with many people.

So, if you are like Office Boy, got a few dollars think he already very rich, then you are wrong like him! Haha!

Sniff out the next segment of Cheongster Style! I suspect it is going to be commercial/retail proeprties.

DKSG

[jacelynchia]

A Very Impressive EC, fittings also not bad!

[DKSG]

A Very Impressive EC, fittings also not bad!

Office Boy cannot buy EC. But think I have to go visit this one!

When is PCK making guest appearances ?

I was so happy the last time I saw Lah-Tee-Sha at Ripple Bay, nearly bought one! Hahaha~!

DKSG

[price]

Office Boy cannot buy EC. But think I have to go visit this one!

When is PCK making guest appearances ?

I was so happy the last time I saw Lah-Tee-Sha at Ripple Bay, nearly bought one! Hahaha~!

DKSG

DKSG,

so are u eligible for ECs? maybe u should park some money too!

[rymccondo77]

Would not be surprised the one who bought the PH has lots of cash stacked somewhere - so the $12K income ceiling is not a problem.

[PN]

$1.774m sounds like 一起去死

[danntbt]

@ $1.774m, 30 years loan 2% interest rate monthly repayment when completed is around $5.2k per month.

Question is where is the $400k cash coming from? (20% DP + SD of almost $50k)

Donate back proceeds from Miliion$ HDB/HUDC sales.......

[hyenergix]

Likely parents' investing in child's name.

[stiook]

12k income... but 12mth bonus? businessman underdeclare? 7k taxi driver? many possibilities but for a normal household, it is quite unimaginable to get into such debt at this income level.

[radha08]

fyi...

http://www.kiasuparents.com/kiasu/fo...hp?f=1&t=33348

[leesg123]

fyi...

http://www.kiasuparents.com/kiasu/fo...hp?f=1&t=33348

ah nan drive slk200

[price]

Likely parents' investing in child's name.

you need a pair of married children.

[DC33_2008]

Heard that this place is 90% sold. It is really hot along upper serangoon area.

[hyenergix]

Likely to be sold out in December due to bonus coming.

[price]

Likely to be sold out in December due to bonus coming.

have u seen their show flat? did they feature the private pool in living room?

[hyenergix]

have u seen their show flat? did they feature the private pool in living room?

Not really. I am very tied down by work recently. My projection is also based on the estimated selling price of new launches from end of this year onwards. Many people will find ECs still more value for $.

[price]

Not really. I am very tied down by work recently. My projection is also based on the estimated selling price of new launches from end of this year onwards. Many people will find ECs still more value for $.

of course... ECs are always valued for money. the problem is whether you are eligible to buy 1.

[Laguna]

of course... ECs are always valued for money. the problem is whether you are eligible to buy 1.

I was thinking of this question for my son, 23. And decided not to get EC.
By the time, he finds my daughter-in-law will be 28, then construction 3 years, MOP, he will have to wait till at least 35-37 to buy a PC....

Also, my girl's friend, together with her bf, broke off after applying for EC...losing monies...