The Quartz @ Buangkok (99LH By Guocoland)

[Unregistered]

I also bought TQ when it 1st launch last year at $490 psf. But unlike you, I have not sold my present house and am hoping to sell even more in end 2008 when TQ TOP. Alternatively, I can rent out my entire HDB as the yield is good in view of its low capital cost. Holding/investing in HDB is less risky as govenment will support it due to 80% of population living in it. No regrets and quite happy with current situation. The uptrend is sustained by the impending IR that's earmarked to be operational in 2009. Afterthat growth might not be that bullish I think.

Same situation here. Wish I could hold 2 property but must keep at least 90K in CPF...thus no choice but to sell my Sengkang flat. Hope I can sell at better price next year

[Unregistered]

Yes, it's right. I just sold my HDB flat is Sengkang for 13k above valuation. And the valuation is about 8-10% above as compared to Jan 2006.

So the overall price is about 10-15% as compared to Jan 2006.

And I just bought a unit at TQ last year when it was first launch. :-)

13K above valuation is good sell! Which block & floor you previously staying?

[Unregistered]

13K above valuation is good sell! Which block & floor you previously staying?

Blk 319C on a high floor

[Unregistered]

I also bought TQ when it 1st launch last year at $490 psf. But unlike you, I have not sold my present house and am hoping to sell even more in end 2008 when TQ TOP. Alternatively, I can rent out my entire HDB as the yield is good in view of its low capital cost. Holding/investing in HDB is less risky as govenment will support it due to 80% of population living in it. No regrets and quite happy with current situation. The uptrend is sustained by the impending IR that's earmarked to be operational in 2009. Afterthat growth might not be that bullish I think.

In fact I rent out my flat before I sold it. I decided to sell it now because I notice the price is good. Nobody knows if the price will go up or down. Even if it is to go up, I think it will be small as there are just too many empty flats in Sengkang and ponggol.

As for the yield for renting out, the gross yield may be look good (4-5%). But taking into account of income tax, higher property tax and other misc, the yield is only about 3-4%. And considering the interest loss in CPF or the interest you pay to HDB or the new condo for the loan, the yield is actually about 1-2% or even less depending on the interest.
It is not worth the effort or the hassle (this is my opinion), unless you are not taking any loan.

[martin wee]

good price for $490. not sure the block and thefloor though. i paid $584 last month for a 18th floor unit. so good for you. facing the field though..low floor selling around $521 then..that was just before they closed the bookings for next launch..

saw today's add for sub sale in ST..asking $850k for a 1141 pool facing unit..that"s $744..wonder who will buy..i would rather wait and see how the developer will price for new launch.

[ht]

In fact I rent out my flat before I sold it. I decided to sell it now because I notice the price is good. Nobody knows if the price will go up or down. Even if it is to go up, I think it will be small as there are just too many empty flats in Sengkang and ponggol.

As for the yield for renting out, the gross yield may be look good (4-5%). But taking into account of income tax, higher property tax and other misc, the yield is only about 3-4%. And considering the interest loss in CPF or the interest you pay to HDB or the new condo for the loan, the yield is actually about 1-2% or even less depending on the interest.
It is not worth the effort or the hassle (this is my opinion), unless you are not taking any loan.

Actually, HDB flat can serve as a very good leverage. It allowed me the luxury of selling the condo I got 18 mths ago before its TOP. If I had sold my HDB sooner (which I did consider), I will be denied of the opportunity.

Just my

Really curious how Guocoland is going to price TQ in its re-launch...

[Unregistered]

good price for $490. not sure the block and thefloor though. i paid $584 last month for a 18th floor unit. so good for you. facing the field though..low floor selling around $521 then..that was just before they closed the bookings for next launch..

saw today's add for sub sale in ST..asking $850k for a 1141 pool facing unit..that"s $744..wonder who will buy..i would rather wait and see how the developer will price for new launch.

What is the area? which blk?

[Unregistered]

If your HDB loan is not a lot & using only partial cpf to pay for your HDB, it would be good to rent it out. Use that cash to finance part of your condo loan together with the balance cpf. This will be a win win situation. When old age, HDB loan would be fully repaid, at least still have rental income. If condo loan is high, of course it will be better to sell off and reduce current loan amount. Really have to see if one can afford to finance 2 houses Not easy, especially given the CPF withdrawal limit..must watch out

[ht]

If your HDB loan is not a lot & using only partial cpf to pay for your HDB, it would be good to rent it out. Use that cash to finance part of your condo loan together with the balance cpf. This will be a win win situation. When old age, HDB loan would be fully repaid, at least still have rental income. If condo loan is high, of course it will be better to sell off and reduce current loan amount. Really have to see if one can afford to finance 2 houses Not easy, especially given the CPF withdrawal limit..must watch out

You are exactly right.
I have been thinking about renting the HDB flat out as well like what you said, with due consideration of the fact that we will need to manage 2 loans. Fortunately, my HDB flat loan is not high, even then, the decision is not that straight forward.

Sound advice indeed !!

Thanks

[Unregistered]

You are exactly right.
I have been thinking about renting the HDB flat out as well like what you said, with due consideration of the fact that we will need to manage 2 loans. Fortunately, my HDB flat loan is not high, even then, the decision is not that straight forward.

Sound advice indeed !!

Thanks

No problem Good that your HDB loan is not high..my bf's one is...bought at peak time...sigh...neverminid..forward looking..maybe tomorrow will strike lottery!! haha...
Btw, for how many years did you loan your condo for?

[Unregistered]

good price for $490. not sure the block and thefloor though. i paid $584 last month for a 18th floor unit. so good for you. facing the field though..low floor selling around $521 then..that was just before they closed the bookings for next launch..

saw today's add for sub sale in ST..asking $850k for a 1141 pool facing unit..that"s $744..wonder who will buy..i would rather wait and see how the developer will price for new launch.

Saw a May 07 transaction at $489 psf (THE QUARTZ $ 689,400 1,410 $ 489 05-2007 see website http://www.condo.com.sg/mycondo/uras...?condoid=2890). I think this is the new release stack 33, ie. the bigger 3 + 1 type of 131 Sqm or 1410 SqF (exact showflat layout). Very good stack as it is pool facing, NS, living room additional adjacent window view, best privacy with no side by side neighbour and also have rare secret gardens in its block. Very good pricing and hope to buy one at $498 psf or so as well. Wonder who's the lucky one?

[martin wee]

I guess more likely sub sales. i was scouting for bigger unit last month but no more left. The May figures could be those transacted in April or earlier in March. URA only reflects those with Caveat Launch. normally it takes 6 to 8 weeks to process.

If you look at that the transcations done in May..it varies quite a fair bit. A pity it never reflects the blocks and floors...

NameStreet NameTypeLand/
Floor Area(Sqm)Land/
Floor Area(Sqft)Price($)Date of Option Exercised / Sales Agreement Signed THE QUARTZCOMPASSVALE BOWCondominium 1041119710,100May-07THE QUARTZCOMPASSVALE BOWCondominium 991066574,200May-07THE QUARTZCOMPASSVALE BOWCondominium 1311410689,400May-07THE QUARTZCOMPASSVALE BOWCondominium 991066588,600May-07THE QUARTZCOMPASSVALE BOWCondominium 1061141606,600May-07THE QUARTZCOMPASSVALE BOWCondominium 981055579,600May-07THE QUARTZCOMPASSVALE BOWCondominium 1061141680,400May-07THE QUARTZCOMPASSVALE BOWCondominium 991066569,700May-07THE QUARTZCOMPASSVALE BOWCondominium 1041119707,400May-07

[martin wee]

arhh...can't cut and paste.

please find attached link...

http://spring.ura.gov.sg/lad/ore/rea...sac_action.cfm

[ht]

No problem Good that your HDB loan is not high..my bf's one is...bought at peak time...sigh...neverminid..forward looking..maybe tomorrow will strike lottery!! haha...
Btw, for how many years did you loan your condo for?

25 years.
I think there are differing school of thots, some of which prefer to stretch to the max loan term so that they can use funds available for other investments, while others prefer to shorten the loan to minimise the interest payments.
We are kind of in-between, we dun want to stretch too long, while we also want to keep some money (cpf and cash) for investment, such as financing 2 properties, etc.

Have a good weekend !!

[Unregistered]

I also bought TQ when it 1st launch last year at $490 psf. But unlike you, I have not sold my present house and am hoping to sell even more in end 2008 when TQ TOP. Alternatively, I can rent out my entire HDB as the yield is good in view of its low capital cost. Holding/investing in HDB is less risky as govenment will support it due to 80% of population living in it. No regrets and quite happy with current situation. The uptrend is sustained by the impending IR that's earmarked to be operational in 2009. Afterthat growth might not be that bullish I think.

I think if you have both a HDB apartment and a private property, you can only rent out the private property and not the HDB. And then government will levy a higher property tax on the rented unit.

[Unregistered]

I think if you have both a HDB apartment and a private property, you can only rent out the private property and not the HDB. And then government will levy a higher property tax on the rented unit.

yup, think there's some sort of regulations.
btw, you also owner of TQ?
how often do you visit TQ to see its progress?

[Unregistered]

25 years.
I think there are differing school of thots, some of which prefer to stretch to the max loan term so that they can use funds available for other investments, while others prefer to shorten the loan to minimise the interest payments.
We are kind of in-between, we dun want to stretch too long, while we also want to keep some money (cpf and cash) for investment, such as financing 2 properties, etc.

Have a good weekend !!

OIC..but have to be careful of the withdrawal limit...longer loan terms will means hitting it faster cos of the interest payments
U must be looking forward to your Infiniti? btw, when is the TOP?

[Unregistered]

yup, think there's some sort of regulations.
btw, you also owner of TQ?
how often do you visit TQ to see its progress?

I am not owner, but while reading through this forum I thought it's good to highlight this housing regulation so that people don't do things wrongly and then have to reverse course later when the law catches up with them. You can find more information from HDB website:

Subletting of Whole HDB Flats

Starting from 1 Oct 03, owners of all HDB flats who have occupied their flats for 15 years or more will be able to sublet their whole flat. This is irrespective of whether the flats are bought from HDB or from the resale market, and whether the flat owners have an outstanding loan from HDB. In addition, HDB flat owners who do not have an outstanding HDB loan can sublet their whole flat after occupying it for at least 10 years. Those with an outstanding HDB loan can qualify by either fully redeeming their loan or refinancing their loan with the banks.

Terms and Conditions for Subletting of Whole Flat

Application
1 Lessee must obtain HDB's prior written approval before subletting of whole flat.

2 Lessee must provide subtenants’ particulars at the time of application and inform HDB of subsequent changes.

3 An administrative fee of $20/- is charged for the processing of each application.

4 After the subletting period expires and if the lessee wishes to continue to sublet, a new application must be submitted and will be subjected to a reassessment of the eligibility of the lessees to sublet the whole flat.

5 If the lessee is overseas during the period of subletting a valid Power of Attorney is required.


Responsibility of Lessee

1 The lessee or his attorney is responsible for:

(a) Ensuring the flat is sublet to eligible subtenants only:

(b) The covenants in the lease and all infringements committed by the subtenants;

(c) Informing the Comptroller of Property Tax of the subletting and the HDB of any changes in the subletting;

(d) Surrendering vacant possession of the flat in the event that the flat is repossessed by the HDB.

(e) Ensuring that the subtenants entered Singapore and are remaining in Singapore lawfully at all times while the subletting is in force.


2 Lessee and family must resume occupation of the flat and ensure subtenants vacate the premises when the subletting is terminated or when he ceases to be eligible to sublet the whole flat.
Subtenants

1 The subtenants must be Singapore citizens, Singapore permanent residents, or non-citizens legally residing in Singapore (holders of Singapore Blue Identity Cards, Employment Passes, Work Permits or Student Passes).

2 The maximum number of subtenants allowed is 4 persons per flat for 1- and 2-room flats, 6 persons per flat for 3-room flats, and 8 persons per flat for 4-room and bigger flats.

3 The subtenants must not be tenants/owners of other HDB flats except for:-

(a) tenants/owners who are divorced/legally separated and are able to produce documentary evidence of the divorce/legal separation. Only one of the divorced/separated parties can be a subtenant of another HDB flat;

(b) owners who are eligible to sublet their whole HDB flat. They must sublet their own flat within one month after they have rented an HDB flat from other flat lessee. They must resume occupation of their own flat if they fail to sublet the flat within the one-month period.

4 The subtenants must not be owners of any Executive Condominium units where the 5-year Minimum Occupation period has not expired.

5 The subtenants must observe and comply with all the terms, conditions and covenants of the lease and the provisions in the Housing & Development Act.

[Unregistered]

You can find more info at HDB website under HOME OWNERS > Use And Ownership Of Flat > Subletting Your Flat / Room & Investing In Private Properties

Do take note of the policies, eligibility of flat owners and the terms & conditions.

[ht]

OIC..but have to be careful of the withdrawal limit...longer loan terms will means hitting it faster cos of the interest payments
U must be looking forward to your Infiniti? btw, when is the TOP?

Yup, stated TOP is June 09, though as usual, it shd be about 6mths earlier.

Thanks to the rest for the comments and inputs about sub-letting HDB or private property.
Indeed, we will study closer the regulations, and weigh our options nearing the TOP.

But, I do know of a collegue who is staying in his condo and sub-letting his HDB...will check with him how he does it??

[Unregistered]

OIC..but have to be careful of the withdrawal limit...longer loan terms will means hitting it faster cos of the interest payments
U must be looking forward to your Infiniti? btw, when is the TOP?

Went down today to checkout the progress. They are now on 12-13th floor. They are also fitting the windows & patios frame up to 3rd floor. Seems like they are making good progress. The commericial units opp TQ has also finished with tiles laid & painted. Heard from someone that The Aspella guys will be getting their keys by month end.

[Unregistered]

Yup, stated TOP is June 09, though as usual, it shd be about 6mths earlier.

Thanks to the rest for the comments and inputs about sub-letting HDB or private property.
Indeed, we will study closer the regulations, and weigh our options nearing the TOP.

But, I do know of a collegue who is staying in his condo and sub-letting his HDB...will check with him how he does it??

I thought official TOP is in 2010 as stated in their brochure?
6 months earlier means that TOP should be june 2009 right?

[ht]

I thought official TOP is in 2010 as stated in their brochure?
6 months earlier means that TOP should be june 2009 right?

Sorry for the confusion, I was referring Infiniti (in response to the query), which I bought recently. I was on this thread as I was also looking at TQ, waiting for them to re-launch, until I gave up, as time is definitely on the buyer side in these times.....

[Unregistered]

anyone knows a rough estimate on how much the Quartz can be rented out for?

[Unregistered]

anyone knows a rough estimate on how much the Quartz can be rented out for?

Are you trying to compute property tax or assess its value? haha...
Well..I guess its $1800 at the most..not sure either...but if you do get the answer, do share

[Unregistered]

Are you trying to compute property tax or assess its value? haha...
Well..I guess its $1800 at the most..not sure either...but if you do get the answer, do share

trying to assess its value.
$1800 is too cheap.
Was expected at least 2.5K because next to MRT

[Unregistered]

trying to assess its value.
$1800 is too cheap.
Was expected at least 2.5K because next to MRT

I am just making wild guess..think the agent would know better...maybe $2.5K is a better guess..I hope so too

[Unregistered]

I am just making wild guess..think the agent would know better...maybe $2.5K is a better guess..I hope so too

Just to share.
I rented out my 5 room flat in SengKang last year for about $1100 (fully furnished), should be able to get about $1200-$1400 now. I have a relative who rent out his unit in Rio Vista (Hougang Ave 7) for $2200 (not furished). So I think the range could be between $2200-$2600 depending on the size.
So the gross yield is about 4-6%.

[Unregistered]

Just to share.
I rented out my 5 room flat in SengKang last year for about $1100 (fully furnished), should be able to get about $1200-$1400 now. I have a relative who rent out his unit in Rio Vista (Hougang Ave 7) for $2200 (not furished). So I think the range could be between $2200-$2600 depending on the size.
So the gross yield is about 4-6%.

How big is Rio Vista??

[Unregistered]

I feel that TQ seems to be rather quiet in terms of advertisements...what do you all think? WOnder what's GL's strategy..