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Thread: Pine Grove - Good buy?

  1. #1
    Join Date
    Feb 2009
    Posts
    24

    Default Pine Grove - Good buy?

    Is Pine Grove a good buy ? I read about the development being tried for enbloc for 4 times but all failed attempts.

    I'm looking to buy for my own stay and if it gets enbloc some day, that is a bonus.

    But overall, is this development good to buy in this market since it has used up 30 years out of its 99 leasehold.

    I'm considering a unit that is asking for 1.17m for 1,324sqft which is about 883psf...

    What are your views?

  2. #2
    Join Date
    Aug 2013
    Posts
    83

    Default

    I have visited this place many times over the years. It definitely feels its age. Also does not feel like a condo, more like a HDB (which begs the question - why not buy a new HDB instead?).

    Pricewise, 883 psf feels about right (although I haven't checked the price history), considering that the famous Horizon Towers near Orchard (which is also 30 years) is 1100-1200 psf - albeit for big units.

    Quite risky to buy such a short lease no? particularly in a falling market, freehold or longer lease better to ride out the downturn.
    Yes you might say its for your own stay for the rest of your life, but what if you urgently need the money for emergencies or just want to liquidate for cash in future? Priorities change in life.

    Quote Originally Posted by trixie View Post
    Is Pine Grove a good buy ? I read about the development being tried for enbloc for 4 times but all failed attempts.

    I'm looking to buy for my own stay and if it gets enbloc some day, that is a bonus.

    But overall, is this development good to buy in this market since it has used up 30 years out of its 99 leasehold.

    I'm considering a unit that is asking for 1.17m for 1,324sqft which is about 883psf...

    What are your views?

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