Clover By The Park, Bishan

[Condo owner]

Wow, $1m loan, that's a lot! Only think to buy a normal 3 bedder, loan of $600k and serve for 20 years!

currently combined income of $10K+, no car and no children yet. monthly saving is more than 65% at the moment.

one more thing, both of us only at the age of 27-28, if after several years more of working, i think we should feel more confortable on the loan.

one more thing, my partner is working in the bank, so got discount for the bank loan interest.

For me, my current loan is less than 500K. Will be topping up with another 300K from CPF to try to make the loan to be below 200K. That works out to be slightly above 1K on a 20 years loan tenure. Not too much and will be pretty relax.

But I got another condo not yet TOP. Potential loan is also around 500K. With no CPF topup to bring down the loan, the mthly works out to be above 2.5K. Hope I can use my rental to cover the loan as the TOP of this condo will be end of 2010. With the two IRs on line, hope the rental market will be good by then...

[SIBOR]

The current SIBOR is low, so if u take the package Sibor+0.7 you are only servicing 2% p.a.
I think if you have spare cash, you can make it work harder to offset the interests.
Thats why i prefer to invest myself rather than buy unit trusts or give to fundmanager....
Some stocks looks cheap now, so pick the good ones with high dividend yield and you should get better returns...

The best is of coz bank staff rates. I heard DBS staff pay 1% only and Stanchart staff pay SIBID which is currently 1.18%

so, its not about the amount of loan you take. Sometimes its leverage.
try not to commit all your cash to take a lower loan. Imagine CPF can still earn 3.5% while loan only currently cost you 2%.
So, if i were you, i will leave it in CPF and do partial repayment later when SIBOR rises.....

[condo owner]

The current SIBOR is low, so if u take the package Sibor+0.7 you are only servicing 2% p.a.
I think if you have spare cash, you can make it work harder to offset the interests.
Thats why i prefer to invest myself rather than buy unit trusts or give to fundmanager....
Some stocks looks cheap now, so pick the good ones with high dividend yield and you should get better returns...

The best is of coz bank staff rates. I heard DBS staff pay 1% only and Stanchart staff pay SIBID which is currently 1.18%

so, its not about the amount of loan you take. Sometimes its leverage.
try not to commit all your cash to take a lower loan. Imagine CPF can still earn 3.5% while loan only currently cost you 2%.
So, if i were you, i will leave it in CPF and do partial repayment later when SIBOR rises.....

Hi Sibor,

Thanks for your advise. But I really had phobia doing stocks and unit trust investment. Too afraid to look at my paper loss now. So that is why I am thinking of leaving low cash in my CPF and use the amount to lower the loan. Sometime you know, leaving CPF with some money will make you tempting to commit in more investments. (Can be bad at times)

[bb123]

The current SIBOR is low, so if u take the package Sibor+0.7 you are only servicing 2% p.a.
I think if you have spare cash, you can make it work harder to offset the interests.
Thats why i prefer to invest myself rather than buy unit trusts or give to fundmanager....
Some stocks looks cheap now, so pick the good ones with high dividend yield and you should get better returns...

The best is of coz bank staff rates. I heard DBS staff pay 1% only and Stanchart staff pay SIBID which is currently 1.18%

so, its not about the amount of loan you take. Sometimes its leverage.
try not to commit all your cash to take a lower loan. Imagine CPF can still earn 3.5% while loan only currently cost you 2%.
So, if i were you, i will leave it in CPF and do partial repayment later when SIBOR rises.....

you are right, my partner is working with DBS. Their staff rate is 1% below SIBOR or the minimum interest rate is 1%.

[jacuzzi]

wow! the crowd is worse than a public pool,not forgetting that it is smaller! If I use the power of reasoning, it really doesn't make sense to buy a condo at the first place. Spend $$$$$ but get back so little. No offence!

if pool is crowded, go back up to your room and enjoy the bathtub with jacuzzi!!

[stamp]

any stamp duty rebate from developer?

[no-stamp]

any stamp duty rebate from developer?

i dont think so
its 3% of purchase price less $5400

[Unregistered guy]

i wonder how much is the penthouse? Any available? Hopefully can make it to showflat when i'm back in town.

We are looking to get either a landed or penthouse in D20. But our agent is telling us 'wait and see' saying that property might slowed down further in the next 1-2 yrs.

[Unregistered1111111]

i wonder how much is the penthouse? Any available? Hopefully can make it to showflat when i'm back in town.

We are looking to get either a landed or penthouse in D20. But our agent is telling us 'wait and see' saying that property might slowed down further in the next 1-2 yrs.

i'm also wait n see. hope next year can get a cheaper one.

[penthouse]

There are 2 types of penthouse....
38th floor which is horizontal penthouse... means it occupies 2 stacks that gives you 6 bedrooms!!
and the other is the 39th + 40th floor which is the vertical penthouse..

sadly, all sold out during first day i believe.....

[crowded]

Don't you think the swimming pool shared by 616 household is too much??? feel like public pool????

at least better than kovan melody and livia, both more than 700+ units...

[cl0ver]

the other plus point is only 2 blocks leaving so much space to landscaping...
good idea from Sim lian to build it really high.....

[cloverSeeker]

the other plus point is only 2 blocks leaving so much space to landscaping...
good idea from Sim lian to build it really high.....

Thumbs up for this project.
Most buyers will have either parkview and/or city skyline.

[OwnerStack1]

at least better than kovan melody and livia, both more than 700+ units...

My friend home at Floravale... swimming pool was madness during weekend!

I believe it will be very very crowded....

so sad.

[Clover King]

i wonder how much is the penthouse? Any available? Hopefully can make it to showflat when i'm back in town.

We are looking to get either a landed or penthouse in D20. But our agent is telling us 'wait and see' saying that property might slowed down further in the next 1-2 yrs.

Every agents who are selling resale flats are saying the same thing. Properties will slow down in 1-2 year times. Believe they are just "parroting" the reports issue by Credit Suisse and another foreign bank (forgot the name). Ask those agent who are selling new apartments in new launches, they give you a different perspective...buy now buy now
Moral of the story is no one really know and can predict what the market will be like in 2 years time. With the IR coming up and subprime crisis cooling off, we could be experiencing another upsurge in prices. Go with your heart man....

[careful man]

Every agents who are selling resale flats are saying the same thing. Properties will slow down in 1-2 year times. Believe they are just "parroting" the reports issue by Credit Suisse and another foreign bank (forgot the name). Ask those agent who are selling new apartments in new launches, they give you a different perspective...buy now buy now
Moral of the story is no one really know and can predict what the market will be like in 2 years time. With the IR coming up and subprime crisis cooling off, we could be experiencing another upsurge in prices. Go with your heart man....

not so easy man. $80 item can go with the heart, $800 watch can go with the heart , $8,000 honeymoon tour package can go the heart. even $80,000 car can go with the heart. But $800,000 property even if my heart says go ahead, my balls wouldn't let me.......I think i am destined to stay in HDBs.....hiaz.....

[you made my day]

not so easy man. $80 item can go with the heart, $800 watch can go with the heart , $8,000 honeymoon tour package can go the heart. even $80,000 car can go with the heart. But $800,000 property even if my heart says go ahead, my balls wouldn't let me.......I think i am destined to stay in HDBs.....hiaz.....

That is an interesting way to sum up ballless-ness!

[hehehe]

That is an interesting way to sum up ballless-ness!

that's ballful-ness, since the balls are in control....

[Unregisteredppp]

not so easy man. $80 item can go with the heart, $800 watch can go with the heart , $8,000 honeymoon tour package can go the heart. even $80,000 car can go with the heart. But $800,000 property even if my heart says go ahead, my balls wouldn't let me.......I think i am destined to stay in HDBs.....hiaz.....

hdb prices these days aren't that cheap either. private property is an investment.

[Unregisteredzzz]

The usual old saying still holds very much here again. If for investment, no one can predict anything. This is surely not the peak, nor the bottom of all times. We are at a flat line now, it could go up or it could go down. More bad news, goes down. Construction cost rises, prices remains. It is a very much guessing game!

Good luck to all.

[goodie]

good but bad for the following:
1 access questionable; when fully completed may worsen traffic congestion, bottle neck at Bishan/AMK traffic lights
2. anyone can talk without phones between balconies, 10-15 mtrs apart
3. 99 yrs

[be careful]

good but bad for the following:
1 access questionable; when fully completed may worsen traffic congestion, bottle neck at Bishan/AMK traffic lights
2. anyone can talk without phones between balconies, 10-15 mtrs apart
3. 99 yrs

Prices will fall for sure if the situation in middle east worsens, be careful dont over invest if you are less liquid otherwise you will really have to eat grass.

[friend]

My wife and I combined already more than 20K a month... yet I find it "siong" to service.... for the larger units ...assuming you take a $1m loan... the monthly servicing is almost 4.5K to 5K using cash (since my current property is using CPF), depending on interest rate. Monthly car maintenance will be almost 2.5K considering installment, petrol, ERP, carpark etc. Childcare another 2.5K.

End of the day.... can service... but leaving little for savings.

Unless you have extra extra cash, even you are drawing 20k monthly as a wage earner it is very risky to invest heavily in properties. Companies may come and go esp, nowadays economies are very uncertain. Doing your own business may be less risky la.

[UnregĄstered]

My wife and I combined already more than 20K a month... yet I find it "siong" to service.... for the larger units ...assuming you take a $1m loan... the monthly servicing is almost 4.5K to 5K using cash (since my current property is using CPF), depending on interest rate. Monthly car maintenance will be almost 2.5K considering installment, petrol, ERP, carpark etc. Childcare another 2.5K.

End of the day.... can service... but leaving little for savings.

Unless you have extra extra cash, even you are drawing 20k monthly as a wage earner it is very risky to invest heavily in properties. Companies may come and go esp, nowadays economies are very uncertain. Doing your own business may be less risky la.

We never use our combined $30k salary to buy.
We used our $1M cash to buy.
Not so bad! Quite relaxing!
We, together with the rest who are like us, are accumulating and waiting to another opportunity to accumulate more wealth.

[Unregistered 14]

I REMMEBER THAT 3YRS AGO I SAY MY FRIEND "SEOW... BUYING A STUDIO FOR 380K I CAN BUY A BISHAN 4RM OR EVEN 5RM FLAT U KNOW" NOW HE CAN EASILY SELL IT AT 600K.
JUST IMAGINE THAT IN ANOTHER 3YRS TIME WHEN CLOVER IS TOP AND THE SURROUNDING FLATS N CONDO ARE MOSTLY COMING TO 20YRS OLD.SO I THINK CLOVER WILL BE STANDING HIGH AND STRONG NOT ONLY THE TWO TOWER BUT ALSO IN PRICING.

[Boast]

We never use our combined $30k salary to buy.
We used our $1M cash to buy.
Not so bad! Quite relaxing!
We, together with the rest who are like us, are accumulating and waiting to another opportunity to accumulate more wealth.

haha, what a boastful statement....

just read Farrer Court new condo will have 1500 units and the breakeven price would be around $1400 and its 99 yrs !!!!
i think capitaland should be more worried !!!!

so, all clover buyers, its not that bad.... if prices fall, it wont hit us that bad compared to others.....

[Bishan]

It a cycle..If you are staying then you just need to catch another cycle..
At least in Bishan rates the highest in terms of House hold income.
And HDB prices there is high

[No upside]

Upside will be limited here though as MRT spring up in all the prime areas in next 5-10 years. But happy can already. those who bot the most expensive HDB/condos in 1996 in Bishan are still crying now - still negative equity after the boom. It's not the best area for drivers due to CTE jam and exorbitant ERP. so must be prepared if others make more money, don't be red-eye. Also 99 yr LH with no chance of MRT EVER, so in recessionary times, will be hardest hit.

haha, what a boastful statement....

just read Farrer Court new condo will have 1500 units and the breakeven price would be around $1400 and its 99 yrs !!!!
i think capitaland should be more worried !!!!

so, all clover buyers, its not that bad.... if prices fall, it wont hit us that bad compared to others.....

[Wake up]

Bishan has the highest household income in Singapore? You come from which planet? Bishan is not even a private property area with so many HDBs! No freehold land even, how to have highest income? Bishan residents have also been complaining that they bought the expensive HDB, now Redhill, Queenstown, Clementi, Holland V, Marine Parade, more expensive. It no longer fetch best price for HDB already. Time to wake up.

It a cycle..If you are staying then you just need to catch another cycle..
At least in Bishan rates the highest in terms of House hold income.
And HDB prices there is high

[central]

Location is still central.... right in the middle of singapore....
Bishan will serve 2 MRT lines.....
and Bishan is popular because of good schools in its vicinity, notably Raffles Institution/JC and Cathalic High / Ai Tong.

I think its popular among middle income class.....

There's still 2 roads to the city, CTE and Thomson..
its not the best location, but where is in singapore nowadays as it gets more and more crowded....