All penthouses at The Topiary EC costing up to S$1.6m each sold

**dtrax** · 07-12-12, 20:47

Who says money not enough?

Source: http://www.channelnewsasia.com/stori...241599/1/.html

SINGAPORE: All 16 penthouses going at between S$1.3 million and S$1.6 million have been snapped up as sales opened on Friday for yet another Executive Condominium (EC) project in the market.

About a third of the units at the Topiary, located along Fernvale Lane, were sold within four hours.

Prices start from S$580,000 for a 2-bedroom unit.

Its developer Kheng Leong said recent transactions in the area show that the price difference between The Topiary and private condominiums is higher than in most other neighbourhoods. The difference is approximately 30 per cent to 40 per cent.

It also added that the interest in The Topiary is indicative that ECs continue to enjoy strong demand from buyers.

National Development Minister Khaw Boon Wan recently urged developers of ECs to be mindful about the intent and spirit of the EC policy.

He had said developers should ensure that units are affordable to the targeted EC applicants.

ECs were introduced to help Singaporean families earning within S$12,000 per month acquire a condominium at below market rate.

- CNA/jc

Bring forth and draw your swords... PROPERTY WARRIORS! ChArGeEEEEEEEEEEEEEEEEE!

**phantom_opera** · 07-12-12, 20:53

Singaporeans very sharp ... they know where the good deals are

Very soon, EC developers will build even more penthouses, from 2% to 5% to 10% to eventually 20% penthouses

**radha08** · 07-12-12, 20:59

Originally Posted by phantom_opera

Singaporeans very sharp ... they know where the good deals are

Very soon, EC developers will build even more penthouses, from 2% to 5% to 10% to eventually 20% penthouses

dont be too sure the dark forces are watching and ready to launch...the counterstrike....CM7....With IMMEDIATE effect EC size shall not EXCEED 1444 sqft...

**azeoprop** · 07-12-12, 20:59

Big 5 bedroom penthouses with unblocked city view for only 1.6 million, everybody also want.

http://www.thetopiary.com.sg/

**lajia** · 07-12-12, 21:05

hahaha....ya they watching. effective CM would be anything above 1500sqft, tax of 15% additional stamp duty so as to put it slightly lower then PC, not on par as PC because there is MOP of 5yrs and 10yrs; no grant given of course...

Originally Posted by radha08

dont be too sure the dark forces are watching and ready to launch...the counterstrike....CM7....With IMMEDIATE effect EC size shall not EXCEED 1444 sqft...

**dtrax** · 07-12-12, 21:09

can we all agree 1.6mil EC PH unit top floor... is simply toooo cheap?

**gfoo** · 07-12-12, 21:14

i feel so much better now

**rymccondo77** · 07-12-12, 21:15

Definitely cheaper than the PH units at Citylife EC !

**yjcai** · 07-12-12, 21:18

Hmm holiday season not very quiet after all

**ikan bilis** · 07-12-12, 21:49

URA Curbs on suburban 'shoeboxes'.... private condo cannot build too many MM.... so average size must be >70sqm min

very soon hor.... URA Curbs on 'Giant EC'.... EC cannot build too many penthouse.... so average size must be <100sqm max....

**teddybear** · 07-12-12, 22:30

Strangely, so many cooling measures for PCs but none targeting HDB & ECs? No wonder we are seeing HDB approaching $1m and ECs more expensive than many PCs now!

quote=lajia]hahaha....ya they watching. effective CM would be anything above 1500sqft, tax of 15% additional stamp duty so as to put it slightly lower then PC, not on par as PC because there is MOP of 5yrs and 10yrs; no grant given of course...

[/quote]

**kane** · 07-12-12, 23:41

Hdb and EC are driven by the most basic needs of a basic roof. And i think it is almost impossible to say you build 25k and plan to house another 1mio without ending up with higher prices

**Komo** · 08-12-12, 06:39

probably buyers are those who have sold and had been waiting for market crash ?

nice move

**bakasa2002** · 08-12-12, 08:15

Interesting if a 5rm HDB owner flat can fetch 650k today and commit for a 1.3mil EC that will TOP in 3 yrs time thinking that his shortfall is about 650k loan if he make lumpsum payment at TOP. If prices 3 yr later, market correct about 20%, when he sell his HDB and it is worth about 500k, then he will be caught it a bind?

**chestnut** · 08-12-12, 08:22

Originally Posted by bakasa2002

Interesting if a 5rm HDB owner flat can fetch 650k today and commit for a 1.3mil EC that will TOP in 3 yrs time thinking that his shortfall is about 650k loan if he make lumpsum payment at TOP. If prices 3 yr later, market correct about 20%, when he sell his HDB and it is worth about 500k, then he will be caught it a bind?

Bro, if family income is say 12 k. Ex max qualification is 12 k rite? How much will they save a month? In 3 years time, how much would they have saved?

Bro, can I ask you, over last 3 years, how many % increase did you get?

U must do forward thinking... If u have no forward thinking of your pay, means u scared and not competent in your job. If that is the case, then u are right, don't buy... But if you confident in your capability and your boss appreciates it and you know, will u buy??

Cheers

**roly8** · 08-12-12, 08:26

how come singaporean so rich ar?

**radha08** · 08-12-12, 08:54

Originally Posted by bakasa2002

Interesting if a 5rm HDB owner flat can fetch 650k today and commit for a 1.3mil EC that will TOP in 3 yrs time thinking that his shortfall is about 650k loan if he make lumpsum payment at TOP. If prices 3 yr later, market correct about 20%, when he sell his HDB and it is worth about 500k, then he will be caught it a bind?

In order for that to happen bto price must drop
By 20%...

**bakasa2002** · 08-12-12, 09:14

Originally Posted by chestnut

Bro, if family income is say 12 k. Ex max qualification is 12 k rite? How much will they save a month? In 3 years time, how much would they have saved?

Bro, can I ask you, over last 3 years, how many % increase did you get?

U must do forward thinking... If u have no forward thinking of your pay, means u scared and not competent in your job. If that is the case, then u are right, don't buy... But if you confident in your capability and your boss appreciates it and you know, will u buy??

Cheers

these are good points ... Need to start thinking positively.

**bakasa2002** · 08-12-12, 09:16

Originally Posted by radha08

In order for that to happen bto price must drop
By 20%...

Very true ... Likelyhood of that happening? 10%?

**bakasa2002** · 08-12-12, 09:19

Topiary has this R/C ledge, what is it ah? does it goes into the floor area that the buyer is paying for?

http://www.thetopiary.com.sg/

**solsys** · 08-12-12, 09:33

Originally Posted by radha08

dont be too sure the dark forces are watching and ready to launch...the counterstrike....CM7....With IMMEDIATE effect EC size shall not EXCEED 1444 sqft...

I think you are right..... this may come out.

**bakasa2002** · 08-12-12, 10:22

Originally Posted by solsys

I think you are right..... this may come out.

I think the first thing that might happen is they bar the people from renting out DK apt before MOP. That is a loophole ...

**azeoprop** · 08-12-12, 10:34

Originally Posted by bakasa2002

Topiary has this R/C ledge, what is it ah? does it goes into the floor area that the buyer is paying for?

http://www.thetopiary.com.sg/

RC ledge is not counted into the floor area. It's meant as a sunshade only.

**flagship74** · 08-12-12, 10:42

This EC design can beat PC pant down..

**bakasa2002** · 08-12-12, 10:44

Originally Posted by azeoprop

RC ledge is not counted into the floor area. It's meant as a sunshade only.

Oki thks ...

**bakasa2002** · 08-12-12, 10:48

Originally Posted by flagship74

This EC design can beat PC pant down..

like the PH layout too... no excessive roof terraces and on single floor.

Some got like 5 bathroom!

**Komo** · 08-12-12, 10:49

howcome only see a ghostly figure from the link?

**buttercarp** · 08-12-12, 12:26

Originally Posted by bakasa2002

Interesting if a 5rm HDB owner flat can fetch 650k today and commit for a 1.3mil EC that will TOP in 3 yrs time thinking that his shortfall is about 650k loan if he make lumpsum payment at TOP. If prices 3 yr later, market correct about 20%, when he sell his HDB and it is worth about 500k, then he will be caught it a bind?

Yup, it is scary!
Earn 12k per month and dare to buy 1.3 - 1.6 mil EC?

There are a few groups of people who buy EC.
1. HDB upgraders - these are middle aged people who have children.
2. 1st timers - these are young people whose parents are financing them.
3. New citizens.
4. People who have sold their private properties for the last 30 months and perhaps living overseas, who are planning to return on TOP of the EC.

So the most vulnerable group will be the first group.
If at TOP of the EC, there is a price correction or sudden crash due to recession, how are they going to sell their HDB and finance their EC? Or worse still, what if they lose their jobs

? It will be hard for them to find another as they are middle aged.

**azeoprop** · 08-12-12, 12:31

Convert the penthouse into triple key units of 2 bedroom each and rent out.

**focus** · 08-12-12, 12:31

Originally Posted by bakasa2002

like the PH layout too... no excessive roof terraces and on single floor.

Some got like 5 bathroom!

Excessive A/C Ledges if you looked at it.

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